Agmr Announces Dtc Eligibility Of Its Common Shares

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN OR INTO THE UNITED STATES

TORONTO, Aug. 2, 2022 - Silver Mountain Resources Inc. ("Silver Mountain", "AGMR", or the "Company") (TSXV: AGMR) (OTCQB: AGMRF) (BVL: AGMR) is pleased to announce that its common shares (the "Common Shares") are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC").

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a United States company that manages electronic clearing and settlement for publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered to be "DTC eligible".

DTC eligibility is expected to simplify the process of trading and transferring the Common Shares and to enhance the liquidity of the Common Shares in the United States because of the accelerated settlement period and the expected reduction in costs for investors and brokers, enabling the Common Shares to be traded over a wider selection of brokerage firms.

Jean Pierre Fort, CFO of Silver Mountain stated, "DTC eligibility compliments our recent listing approval on the OTCQB Venture Market announced on June 16, 2022. The listing of AGMR's shares on the OTCQB and DTC eligibility will significantly increase Silver Mountain's visibility, trading volume, and will allow us to engage a broader audience of investors in the United States."

About Silver Mountain

Silver Mountain Resources Inc. is a silver explorer and mine developer planning to re-commence production at the Reliquias underground mine and undertake exploration activities at its prospective silver camps at the Castrovirreyna Project in Huancavelica, Peru.

Silver Mountain's subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and holds more than 28,000 Ha. in the district of Castrovirreyna, in Huancavelica, Peru.

Silver Mountain Resources Inc.
82 Richmond Street East
Toronto, ON M5C 1P1
info@agmr.ca
(647) 262-4017

www.agmr.ca

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Silver Mountain's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under "Statement Regarding Forward-Looking Information" and "Risk Factors" in the Company's final prospectus dated January 26, 2022 and other disclosure documents available on the Company's profile at www.sedar.com. Silver Mountain undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Silver Mountain to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Silver Mountain Resources Inc.