Silver Hammer reports on drilling progress on the Silver Strand project in Idaho

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VANCOUVER, British Columbia, Aug. 15, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR; OTCQB: HAMRF) (the “Company” Where “Silver Hammer”) is pleased to announce that the first drill hole of an 11-hole Phase II diamond drill program (“Phase II Drill Program”) has been completed at its former Silver Strand project in Idaho.

The Phase II drilling program, which utilizes the company‘s established underground drill station, is focused on expanding known silver-gold mineralization further down dip, while testing the potential for additional mineralized downfalls ( see figure 1). The Company has generated priority targets based on a drone-assisted magnetic survey, Phase I drilling results and the integration of historical drill data acquired from previous operators of the Silver Strand project (see the press release of January 26, 2022).

“We are excited to return to our flagship project and move forward with our Phase II drilling program at Silver Strand. We have drill holes designed to test up to three times deeper than our previous phase of drilling and a series of other holes that will test the system laterally with the aim of finding parallel troughs southeast of the main trend of the mine,” said Chairman and CEO Morgan Lekström. “We believe the potential for additional discoveries at Silver Strand is excellent and the discovery of new high-grade zones of gold-silver mineralization would demonstrate the large-scale potential that we believe is possible here.”

NISS, the Company’s drilling contractor, commenced drilling and successfully completed the first hole. Approximately 1,100 meters of drilling is currently planned with the possibility of expanding the program depending on core observations and initial assay results. Silver Hammer continues to use the company’s underground drill station to deliver a much better return on investment per meter drilled. The Phase II drilling program is expected to last approximately seven weeks, with assay results to follow in the fourth quarter of 2022.

Qualified person

The technical aspects of this press release have been reviewed and approved by Philip Mulholland, a Certified Professional Geologist (CPG) of the American Institute of Professional Geologists, a company contractor, and the Designated Qualified Person under the National Instrument 43-101. Disclosure standards for mining projects.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company advancing the former flagship Silver Strand mine in the Coeur d’Alene mining district of Idaho, United States, as well as the Eliza Silver Project and Silverton Silver Mine in one of the largest in the world. prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. The main objective of Silver Hammer is to define and develop silver deposits near old mines which have not yet been sufficiently tested. The Company’s portfolio also provides exposure to copper and gold discoveries.

Disclaimer: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s projects.

On behalf of the board of directors of Silver Hammer Mining Corp.Morgan Lekstrom, President and CEO Head office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada

For any questions relating to investor relations, contact: Kristina Pillon, High Tide Consulting Corp.E: [email protected]

For media inquiries, contact: Adam Bello, Primoris Group Inc.T: 416.489.0092E: [email protected]

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements or information under applicable Canadian securities laws (collectively, “forward-looking statements”) regarding the Company’s plans for its mining properties and projects, financial results, its operations and other matters. Any statements that express or imply discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions or future events or performance are not statements of fact and may be forward-looking statements. These forward-looking statements made as of the date of this press release or as of the effective date of the information described in this press release, as the case may be.

In addition, these forward-looking statements reflect management’s current beliefs and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a slowdown in general economic conditions in North America and at the International scale. (2) the inherent uncertainties and speculative nature associated with mineral exploration. (3) a decline in demand for precious metals, (4) any number of events or causes that may delay exploration and development of property interests, such as environmental liabilities, weather conditions, outages mechanical, safety and labor issues, (5) risk that the Company will not execute its business plan, (6) inability to fund operations and growth, (7) inability to obtain all necessary permits and financing; and (8) other factors beyond the Company’s control. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be those anticipated, estimated or expected. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this press release or in certain of the other documents filed with the Canadian securities authorities, which are available on the Company’s SEDAR profile at www.sedar.com. The Company and its directors, officers and employees each disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

CSE has neither approved nor disapproved of the contents of this press release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this ad is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6512acd0-9b0c-4bcb-8f8d-9425a2e84ea5

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Figure 1

Phase II drilling planned at Silver Strand

Source: Silver Hammer Mining Corp.

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