Silver Hammer Mining : Announces Non-Brokered Private Placement

Silver Hammer Mining Corp.

206-595 Howe Street,

Vancouver, BC

V6C 2T5

SILVER HAMMER ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Not for distribution to the U.S. newswire or for dissemination in the United States

May 27, 2024 - Vancouver, BC - Silver Hammer Mining Corp. (CSE: HAMR) (the "Company" or "Silver Hammer") is pleased to announce a non-brokeredprivate placement of units of the Company ("Units") at a price of CAN$0.09 per Unit (the "Offering"), for anticipated gross proceeds of up to CAN$2,400,000.

"Silver Hammer is supported by an exceptional board and technical team including Ron Burk, the previous Senior VP of Exploration for Centerra Gold and Silver Standard, Don Birak, the previous Senior VP of Exploration for Coeur Mining, Anglo Gold and Hudson Bay Mining & Smelting, and Lawrence Roulston, the current Non- Executive Chairman of Metalla Royalty & Streaming and we look forward to a busy exploration season evaluating our current portfolio of high-grade silver assets in two excellent mining jurisdictions of Idaho and Nevada," commented Peter A. Ball, President & CEO of Silver Hammer Mining. "With an exciting silver bull market emerging, we are pleased to be one of the few pure silver focused exploration and development companies ready for a busy exploration season testing three high-grade silver projects, where each asset contains historical silver mines that have had limited modern- day exploration for decades. As one of Silver Hammer's largest shareholders, I look forward to a busy 2024, and the patience and support of our shareholders pushing forward."

Each Unit will be comprised of one common share in the capital of the Company (a "Share") and one Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional share (a "Warrant Share") at a price of CAN$0.12 per Warrant Share for a period of two years from the closing date of the Offering.

13,547,853 Units for aggregate gross proceeds of CAN$1,219,307 under the Offering will be completed pursuant to the listed issuer financing exemption (the "LIFE Offering") under Part 5A of National Instrument 45-106Prospectus Exemptions ("NI 45-106"). The securities issued in the LIFE Offering will not be subject to a hold period in accordance with applicable Canadian securities laws. There will be an offering document related to the LIFE Offering that will be available under the Company's profile at www.sedarplus.caand at www.silverhammermining.com. Prospective investors should read this offering document before making an investment decision.

In addition to the LIFE Offering, the Company will complete a concurrent private placement of Units pursuant to applicable prospectus exemptions under NI 45-106 for gross proceeds of up to an additional CAN$1,180,693 (the "Concurrent Placement"), for total gross proceeds

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of a minimum CAN$2,343,709 and up to CAN$2,400,000 under the Offering. Such Units will be subject to a four-month and one day hold period following the closing date of the Concurrent Placement.

In connection with the Offering, the Company will pay finders' fees of up to 7.0% of the gross proceeds raised by the Company from the sale of Units to subscribers directly introduced to the Company by eligible finders. In addition, the Company will issue to eligible finders non- transferable finders' warrants of up to 7.0% of the number of Units sold in the Offering. Each finders' warrant will entitle the holder to acquire one Share at a price of CAN$0.12 per Share for a period of two years from the date of issuance.

The Company intends to use the proceeds raised from the Offering for exploration of its Silver Strand project in Idaho, Eliza and Silverton projects in Nevada and for working capital and general corporate purposes.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company focused on advancing past- producing high-grade silver projects in the United States. Silver Hammer controls 100% of the Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold discoveries.

On Behalf of the Board of Silver Hammer Mining Corp.

Peter A. Ball

President & CEO, Director

E: [e-mail]

For investor relations inquiries, contact:

Peter A. Ball President & CEO 778.344.4653

E: [e-mail]

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, without limitation, statements relating to the Offering and the use of proceeds therefrom and other statements which are subject to a number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management's ability to manage and to operate the business, and explore

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and develop the projects of the Company, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

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