Silver Mountain Resources Inc. announced results from fourteen (14) additional drill holes from its ongoing infill and resource expansion program at its 100% owned Reliquias mine, central Peru. Phase 2 of the 2023 drill program consists of 12,500 metres of NQ and HQ drilling aimed at confirming certain high grade areas of the historical mineral resource which was not included in the Company's current resource estimate. So far, drilling crews have completed approximately 7,600 metres of this program with two underground rigs, and the Company has received results from 22 drill holes.

Hitting 19% of combined zinc and lead grade confirms that some of the highest grade portions of the mineralizaed system remain outside of current mineral resource base and drill program is therefore good value for money. Drilling along the Sacasipuedes vein has tested its southeast extension, several hundred metres from the limits of the current mineral resource. The best results were obtained in drill hole SMR-136-23-SCS with 1.45 m @ 205 g/t Ag, 4.06% Pb, 8.20% Zn  0.26% Cu and 0.81 g/t Au.

Mineralization remain open along strike and at depth, and high grade trend can be identified towards the southeast and at depth near the northwestern extension of the vein. Drilling along the Perseguida vein ("PER")  has focused along the northwestern extension of the vein, aimed at testing the deeper levels of the vein, beyond the lowest mining levels from the historic mine. The PER vein was not included in the current mineral resource estimate for the Reliquias mine.

The latest results show significant silver equivalent grades extending the known mineralization along strike and down dip.