{"success":true,"data":{"pressRelease":{"id":"130663","rtpr_id":"nNFC8gJsjL","ticker":"HAMR","exchange":"","all_tickers":["HAMR","SDR"],"title":"Silver Hammer and Stroud Resources Announce Updated Mineral Resource Estimate for the Santo Domingo Silver-Gold Project, Mexico","author":"Newsfile Corp","published_at":"2026-08-28T22:50:56.264Z","article_body":"Vancouver, British Columbia--(Newsfile Corp. - August 28, 2026) - Silver\nHammer Mining Corp. (CSE: HAMR) (OTCID: HAMRF) (the \"Company\" or \"Silver\nHammer\") and Stroud Resources Ltd. (TSXV: SDR) (\"Stroud\") are pleased to\nannounce an updated mineral resource estimate (\"MRE\") for the Santo Domingo\nSilver-Gold Project (the \"Project\") located in Jalisco State, Mexico. This MRE\nreplaces Stroud's 2017 mineral resource estimate (see Silver Hammer news\nrelease July 20, 2026).\n\nA technical report prepared in accordance with National Instrument 43-101 -\nStandards of Disclosure for Mineral Projects (\"NI 43-101\") has been filed on\nSEDAR+ concurrently with the information circulars of Silver Hammer and Stroud\nrelating to the proposed amalgamations (the \"Amalgamations\") between Silver\nHammer, Stroud and SilverMark Resources Inc. (\"SilverMark\").\n\nThe information circulars of Silver Hammer and Stroud relating to the\nAmalgamations have been filed and are available under each company's profile\non SEDAR+ at www.sedarplus.ca. The meetings of Silver Hammer shareholders and\nStroud shareholders to consider and vote on the Amalgamations, as applicable,\nare each scheduled to be held on September 28, 2026. Shareholders of Silver\nHammer and Stroud are encouraged to read the applicable information circular\ncarefully and in its entirety. See \"Meeting Details\" below for additional\ninformation regarding the meetings.\n\nKey Highlights:\n\nThe following is a summary of the MRE with more detailed information provided\nin Table 1:\n*\nTotal Measured and Indicated mineral resources of 5.7 Mt at an average grade\nof 79 g/t Ag and 0.42 g/t Au, containing 14.3 Moz Ag and 76 koz Au, or\ncollectively 20 Moz of silver equivalent (\"AgEq\")((1)).\n*\nTotal Inferred mineral resources of 3.9 Mt at an average grade of 66 g/t Ag\nand 0.31 g/t Au, containing 8.3 Moz Ag and 36 koz Au, or collectively 11 Moz\nAgEq((1)).\n*\nExpected silver recoveries up to 86% and gold recoveries up to 95%.\n*\nMRE prepared by independent Qualified Person, Mr. Simon Mortimer (FAIG #7795)\nof Atticus Geoscience Consulting Ltd.\n\n((1))Silver equivalent: AgEq (ppm) = Ag (ppm) + Au (ppm) x 68.85 (see footnote\nand notes to Table 1)\n\nDr. Scott Jobin-Bevans, Stroud Resources' Interim CEO since July 2019,\ncommented, \"This updated Mineral Resource Estimate represents an important\nstep forward for the Santo Domingo Project. While the application of a more\nrigorous and contemporary geological and resource modeling methodology has\nresulted in a reduction in the reported contained ounces compared to the 2017\nMRE, we believe the resulting resource is significantly more robust,\ntransparent and representative of the current geological understanding of the\ndeposit. Importantly, this work provides Silver Hammer with a much stronger\ntechnical foundation from which to evaluate the economic potential of Santo\nDomingo and advance the project toward a Preliminary Economic Assessment. We\nbelieve this updated resource will give shareholders and the market greater\nconfidence in the quality of the mineralization and provide a clear roadmap\nfor the next phase of exploration and development.\"\n\nMineral Resource Statement\n\nThe MRE, constrained by underground mining parameters (see Notes to Table 1),\nis reported using a break-even underground mining net smelter return (\"NSR\")\ncut-off of US$90.0/t (Table 1).\n\nTable 1. Mineral Resource Statement, Santo Domingo Ag-Au Project, Mexico\n(effective August 21, 2026).\n\n Category               Tonnes     Grade                                      Contained Metal                     \n                        Ag  (ppm)      Au  (ppm)  *AgEq  (ppm)  NSR  (US$/t)  Ag  (koz)  Au  (koz)  *AgEq  (koz)  \n Guadalupe Vein                                                                                                   \n Indicated              740,000    63  0.20       77            139           1,500      5          1,800         \n Inferred               1,500,000  61  0.24       78            141           2,900      11         3,700         \n La Raya Vein                                                                                                     \n Measured               1,200,000  97  0.51       132           240           3,730      19         5,040         \n Indicated              3,700,000  76  0.43       106           192           9,100      51         13,000        \n Measured + Indicated   4,920,000  81  0.45       112           203           12,800     71         18,000        \n Inferred               2,000,000  69  0.35       93            169           4,400      23         6,000         \n Zopilote Vein                                                                                                    \n Inferred               460,000    68  0.36       92            168           1,000      2          1,100         \n Total Resources (3 vein systems):                                                                                \n Measured + Indicated:  5,660,000  79  0.42       108           195           14,300     76         20,000        \n Inferred:              3,900,000  66  0.31       87            159           8,300      36         11,000        \n\n \n\n*AgEq = Ag + Au *68.85 (calculated using a gold to silver price ratio of\n68.85, metal prices of US$73/oz Ag, US$4,550/oz Au, and presumed recoveries of\n86% for Ag and 95% for Au); Significant Figures (SF): 3 SF Measured Resources\nand 2 SF for Indicated and Inferred resources.\n\nNotes to Table 1:\n1. The independent Qualified Person for the Mineral Resource Estimate (MRE),\nas defined by National Instrument 43-101 - Standards of Disclosure for Mineral\nProjects (\"NI 43-101\"), is Mr. Simon Mortimer (FAIG #7795) of Atticus\nGeoscience Consulting Ltd. The effective date of the Mineral Resource Estimate\nis August 21, 2026.\n2. The MRE was prepared following the CIM Estimation of Mineral Resources &\nMineral Reserves Best Practice Guidelines (2019) and the CIM Definition\nStandards for Mineral Resources & Mineral Reserves (2014).\n3. The quantity and grade of the mineral resources reported in this\nexploration study are sufficient to define them as Inferred, Indicated, or\nMeasured mineral resources.\n4. Estimation domains were built from geological data of drill holes, surface\nmapping and using Ag grade thresholds of 15 ppm Ag based on statistical\nanalysis of the core assay.\n5. The Mineral Resource Statement is reported at a break-even NSR cut-off of\nUS$90.00/t (see Note 9 and Note 10), based on commodity prices, metallurgical\nrecoveries, selling costs, operating costs, and appropriate underground mine\nmodifying factors.\n6. Geological and block models for the MRE used data from a total of 61\nsurface drill holes, completed by Stroud Resources Ltd. The drill hole\ndatabase was validated prior to resource estimation and QA/QC checks were made\nusing industry-standard control charts for blanks, core duplicates and\ncommercial certified reference material inserted into assay batches by Stroud.\n7. Estimates have been rounded to 3 Significant Figures for Measured resources\nand 2 Significant Figures for Indicated and Inferred resources.\n8. A 2 m x 2 m x 2 m block model was created, and samples were composited at\n1.5 m intervals. Grade estimation from drill hole data was carried out for Ag\nand Au using the Inverse Distance Weight interpolation method in Micromine\nsoftware. The final resource was reported using a regularized block model with\na block size of 2 m x 2 m x 2 m, which was deemed appropriate for the\nmineralization style and potential mining selectivity.\n9. The MRE is reported above a base economic cut-off grade of US$90.00/t NSR\n(break-even), based on the continuity of mineralized blocks within the model.\nThe following parameters were applied to define this economic threshold:1.\nMining costs and revenues reported in US dollars (US$).\n2. Metal prices: US$73/oz silver (with a US$7.30/oz selling cost) and\nUS$4,550/oz gold (with a US$455.00/oz selling cost).\n3. Underground operational cost assumptions totaling US$90.00/t, consisting of\nUS$60.00/t for selective underground mining and US$30.00/t for processing and\nG&A, for a 3k tpd operation.\n4. Recovery percentage for the metals: Ag = 86% and Au = 95% (based on\ncomparative deposits in the region and their related economic studies).\n\n10. The Mineral Resource Statement reports resources using both calculated\nAgEq and NSR. Block value was calculated as:1. NSR ($/t) = Ag (ppm) * 1.82 +\nAu (ppm) * 125.07\n2. AgEq (ppm) = Ag (ppm) + Au (ppm) * 68.85\n\n11. The NSR values for each metal was determined using the metal prices and\nrecoveries stated in Note 9.\n12. Grade estimation was validated by comparison of input and output\nstatistics (Nearest Neighbour and Inverse Distance Squared methods), swath\nplot analysis, cross-plots of declustered samples, and by visual inspection of\nthe assay data, block model, and grade shells in cross-sections.\n13. The average density estimate of 2.65 g/cm³ (t/m³) is based on historical\nreference density information benchmarked to similar deposits in the area.\nMeeting Details\n\nSilver Hammer Meeting\n\nThe Annual General and Special Meeting of Silver Hammer shareholders (the\n\"Silver Hammer Meeting\") will be held in person at the offices of McMillan\nLLP, Suite 1500, 1055 West Georgia Street, Vancouver, British Columbia V6E\n4N7, on September 28, 2026 at 10:00 a.m. (Vancouver time).\n\nThe board of directors of Silver Hammer unanimously recommends that Silver\nHammer shareholders vote FOR the amalgamation resolution approving the\nAmalgamations.\n\nIn addition to the amalgamation resolution, Silver Hammer shareholders will\nalso be asked to consider certain annual business matters and other special\nbusiness, including: (i) the receipt of financial statements; (ii) the\nappointment of auditors; (iii) the election of directors to hold office until\nthe earlier of the next annual general meeting or the completion of the\nAmalgamations; (iv) conditional upon completion of the Amalgamations, the\nelection of the directors of the Resulting Issuer; (v) the creation and\nauthorization of the Contingent Value Shares; and (vi) the approval of the\nproposed 2026 Omnibus Equity Incentive Compensation Plan. Silver Hammer\nshareholders are encouraged to read the Silver Hammer information circular\ncarefully and in its entirety for a full description of all matters to be\nconsidered at the Silver Hammer Meeting.\n\nSilver Hammer shareholders may vote online, by mail, by telephone or by any\nother method provided in the form of proxy or voting instruction form which\nforms part of the Silver Hammer meeting materials. The proxy voting deadline\nfor the Silver Hammer Meeting is 10:00 a.m. (Vancouver time) on September 24,\n2026.\n\nSilver Hammer shareholders with questions or who require assistance may\ncontact Endeavor Trust Corporation at Suite 702 - 777 Hornby Street,\nVancouver, British Columbia, V6Z 1S4.\n\nStroud Meeting\n\nThe Annual General and Special Meeting of Stroud shareholders (the \"Stroud\nMeeting\") will be held virtually on September 28, 2026 at 10:30 a.m. (Toronto\ntime).\n\nThe board of directors of Stroud unanimously recommends that Stroud\nshareholders vote FOR the amalgamation resolution approving the Stroud\nAmalgamation.\n\nIn addition to the amalgamation resolution, Stroud shareholders will also be\nasked to consider certain annual business matters, including the election of\ndirectors and the re-appointment of the auditor. Stroud shareholders are\nencouraged to read the Stroud information circular carefully and in its\nentirety for a full description of all matters to be considered at the Stroud\nMeeting.\n\nStroud shareholders may vote online or by mail by returning the completed form\nof proxy to TSX Trust Company (Attention: Proxy Department) at 301 - 100\nAdelaide Street West, Toronto, Ontario M5H 4H1, or by voting online at\nwww.voteproxyonline.com, in each case not later than 10:30 a.m. (Toronto time)\non September 24, 2026.\n\nStroud shareholders with questions or who require assistance may contact TSX\nTrust Company at 1-866-600-5869.\n\nNational Instrument 43-101 Disclosure\n\nDr. Scott Jobin-Bevans, P.Geo. (PGO #0183), interim CEO of Stroud Resources\nLtd. and a Qualified Person as defined by NI 43-101 Standards of Disclosure\nfor Mineral Projects, has reviewed and approved the technical information in\nthis news release, on behalf of Silver Hammer Mining Corp. and Stroud\nResources Ltd.\n\nAbout Silver Hammer Mining Corp.\n\nSilver Hammer Mining Corp. (CSE: HAMR) is a mineral exploration and\ndevelopment company focused on acquiring, exploring and advancing precious\nmetals projects in the United States. Silver Hammer holds a 100% interest in\nthree exploration-stage silver properties: the Silver Strand Project in Idaho;\nthe Eliza Silver Project and the Silverton Silver Mine Project in Nevada.\nSilver Hammer also holds an option to acquire a 100% interest in the Fahey\nGroup Property in the Silver Belt portion of the Coeur d'Alene Mining\nDistrict, Idaho. Upon completion of the Amalgamations, Silver Hammer's\nportfolio will expand to include the advanced Santo Domingo silver-gold\nproperty in Jalisco State, Mexico, and an indirect interest in the Akka Mine\nsilver and polymetallic project and multiple exploration leases and mineral\nprojects in Morocco. The Company is led by a technical and management team\nwith extensive global experience in exploration, permitting, capital markets\nand development of mining projects. Silver Hammer's primary focus is to\nexplore, define and advance silver projects near past-producing mines, with\nadditional exposure to gold.\n\nAbout Stroud Resources Ltd.\n\nStroud Resources Ltd. (TSXV: SDR) is a Canadian mineral exploration company\nwhose mission is to create shareholder value through the exploration and\ndevelopment of its Santo Domingo silver-gold project located in Jalisco,\nMexico.\n\nOn Behalf of the Board of Silver Hammer Mining Corp.\n\nPeter A. Ball\nPresident & CEO, Director\nE: peter@silverhammermining.com\n\nOn Behalf of the Board of Stroud Resources Ltd.\n\nDr. Scott Jobin-Bevans\nInterim CEO, Director\nE: scott.jb@caraclecreek.com\n\nFor Investor Relations inquiries, contact:\n\nAndrew Gillin\nVP Corporate Development & Investor Relations\nC: 416.846.3581\nE: andrew@silverhammermining.com\n\nForward-Looking Information\nThis press release contains \"forward-looking information\" within the meaning\nof applicable Canadian securities legislation. Forward-looking information\nincludes, without limitation, statements relating to: the updated mineral\nresource estimate for the Santo Domingo Silver-Gold Project and the\nanticipated significance thereof; the proposed completion of the Amalgamations\nbetween Silver Hammer, Stroud and SilverMark; the anticipated benefits of the\nAmalgamations; and the anticipated results of the meetings of Silver Hammer\nshareholders and Stroud shareholders to be held on September 28, 2026 to\nconsider and vote on the Amalgamations. These statements are based upon\nassumptions that are subject to significant risks and uncertainties, including\nrisks regarding the mining industry, commodity prices, market conditions,\ngeneral economic factors, management's ability to manage and to operate the\nbusiness, and explore and develop the projects of the Company, and the equity\nmarkets generally. Forward-looking information is subject to significant risks\nand uncertainties, including, without limitation: the failure to obtain\nrequired shareholder, regulatory or third-party approvals; the failure to\nsatisfy other conditions to closing of the Amalgamations; risks inherent in\nthe mining industry, including risks relating to mineral resource estimation,\nexploration, development and operating activities; fluctuations in commodity\nprices, particularly silver and gold; changes in general economic conditions\nand financial markets; political and regulatory risks in the jurisdictions in\nwhich the resulting issuer will operate, including Mexico and Morocco;\ncurrency exchange rate fluctuations; and other risks described in the\nCompany's public filings available on SEDAR+ at www.sedarplus.ca. Because of\nthese risks and uncertainties and as a result of a variety of factors, the\nactual results, expectations, achievements or performance of the Company may\ndiffer materially from those anticipated and indicated by these\nforward-looking statements. Although the Company believes that the\nexpectations reflected in forward-looking statements are reasonable, it can\ngive no assurances that the expectations of any forward-looking statements\nwill prove to be correct. Except as required by applicable securities\nlegislation, the Company disclaims any intention and assumes no obligation to\nupdate or revise any forward-looking statements to reflect actual results,\nwhether as a result of new information, future events, changes in assumptions,\nchanges in business strategy or otherwise. This news release does not\nconstitute an offer to sell or a solicitation of an offer to sell any\nsecurities in the United States. The securities have not been and will not be\nregistered under the U.S. Securities Act or any state securities laws and may\nnot be offered or sold within the United States or to U.S. Persons unless\nregistered under the U.S. Securities Act and applicable state securities laws\nor an exemption from such registration is available.\n\nThe Canadian Securities Exchange does not accept responsibility for the\nadequacy or accuracy of this release. The Canadian Securities Exchange has\nneither approved nor disapproved the contents of this press release.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/312013","article_body_html":"","raw_payload":{"data":{"id":"nNFC8gJsjL","title":"Silver Hammer and Stroud Resources Announce Updated Mineral Resource Estimate for the Santo Domingo Silver-Gold Project, Mexico","author":"Newsfile Corp","ticker":"HAMR","created":"2026-08-28T22:50:56.264Z","tickers":["HAMR","SDR"],"exchange":"","article_body":"Vancouver, British Columbia--(Newsfile Corp. - August 28, 2026) - Silver\nHammer Mining Corp. (CSE: HAMR) (OTCID: HAMRF) (the \"Company\" or \"Silver\nHammer\") and Stroud Resources Ltd. (TSXV: SDR) (\"Stroud\") are pleased to\nannounce an updated mineral resource estimate (\"MRE\") for the Santo Domingo\nSilver-Gold Project (the \"Project\") located in Jalisco State, Mexico. This MRE\nreplaces Stroud's 2017 mineral resource estimate (see Silver Hammer news\nrelease July 20, 2026).\n\nA technical report prepared in accordance with National Instrument 43-101 -\nStandards of Disclosure for Mineral Projects (\"NI 43-101\") has been filed on\nSEDAR+ concurrently with the information circulars of Silver Hammer and Stroud\nrelating to the proposed amalgamations (the \"Amalgamations\") between Silver\nHammer, Stroud and SilverMark Resources Inc. (\"SilverMark\").\n\nThe information circulars of Silver Hammer and Stroud relating to the\nAmalgamations have been filed and are available under each company's profile\non SEDAR+ at www.sedarplus.ca. The meetings of Silver Hammer shareholders and\nStroud shareholders to consider and vote on the Amalgamations, as applicable,\nare each scheduled to be held on September 28, 2026. Shareholders of Silver\nHammer and Stroud are encouraged to read the applicable information circular\ncarefully and in its entirety. See \"Meeting Details\" below for additional\ninformation regarding the meetings.\n\nKey Highlights:\n\nThe following is a summary of the MRE with more detailed information provided\nin Table 1:\n*\nTotal Measured and Indicated mineral resources of 5.7 Mt at an average grade\nof 79 g/t Ag and 0.42 g/t Au, containing 14.3 Moz Ag and 76 koz Au, or\ncollectively 20 Moz of silver equivalent (\"AgEq\")((1)).\n*\nTotal Inferred mineral resources of 3.9 Mt at an average grade of 66 g/t Ag\nand 0.31 g/t Au, containing 8.3 Moz Ag and 36 koz Au, or collectively 11 Moz\nAgEq((1)).\n*\nExpected silver recoveries up to 86% and gold recoveries up to 95%.\n*\nMRE prepared by independent Qualified Person, Mr. Simon Mortimer (FAIG #7795)\nof Atticus Geoscience Consulting Ltd.\n\n((1))Silver equivalent: AgEq (ppm) = Ag (ppm) + Au (ppm) x 68.85 (see footnote\nand notes to Table 1)\n\nDr. Scott Jobin-Bevans, Stroud Resources' Interim CEO since July 2019,\ncommented, \"This updated Mineral Resource Estimate represents an important\nstep forward for the Santo Domingo Project. While the application of a more\nrigorous and contemporary geological and resource modeling methodology has\nresulted in a reduction in the reported contained ounces compared to the 2017\nMRE, we believe the resulting resource is significantly more robust,\ntransparent and representative of the current geological understanding of the\ndeposit. Importantly, this work provides Silver Hammer with a much stronger\ntechnical foundation from which to evaluate the economic potential of Santo\nDomingo and advance the project toward a Preliminary Economic Assessment. We\nbelieve this updated resource will give shareholders and the market greater\nconfidence in the quality of the mineralization and provide a clear roadmap\nfor the next phase of exploration and development.\"\n\nMineral Resource Statement\n\nThe MRE, constrained by underground mining parameters (see Notes to Table 1),\nis reported using a break-even underground mining net smelter return (\"NSR\")\ncut-off of US$90.0/t (Table 1).\n\nTable 1. Mineral Resource Statement, Santo Domingo Ag-Au Project, Mexico\n(effective August 21, 2026).\n\n Category               Tonnes     Grade                                      Contained Metal                     \n                        Ag  (ppm)      Au  (ppm)  *AgEq  (ppm)  NSR  (US$/t)  Ag  (koz)  Au  (koz)  *AgEq  (koz)  \n Guadalupe Vein                                                                                                   \n Indicated              740,000    63  0.20       77            139           1,500      5          1,800         \n Inferred               1,500,000  61  0.24       78            141           2,900      11         3,700         \n La Raya Vein                                                                                                     \n Measured               1,200,000  97  0.51       132           240           3,730      19         5,040         \n Indicated              3,700,000  76  0.43       106           192           9,100      51         13,000        \n Measured + Indicated   4,920,000  81  0.45       112           203           12,800     71         18,000        \n Inferred               2,000,000  69  0.35       93            169           4,400      23         6,000         \n Zopilote Vein                                                                                                    \n Inferred               460,000    68  0.36       92            168           1,000      2          1,100         \n Total Resources (3 vein systems):                                                                                \n Measured + Indicated:  5,660,000  79  0.42       108           195           14,300     76         20,000        \n Inferred:              3,900,000  66  0.31       87            159           8,300      36         11,000        \n\n \n\n*AgEq = Ag + Au *68.85 (calculated using a gold to silver price ratio of\n68.85, metal prices of US$73/oz Ag, US$4,550/oz Au, and presumed recoveries of\n86% for Ag and 95% for Au); Significant Figures (SF): 3 SF Measured Resources\nand 2 SF for Indicated and Inferred resources.\n\nNotes to Table 1:\n1. The independent Qualified Person for the Mineral Resource Estimate (MRE),\nas defined by National Instrument 43-101 - Standards of Disclosure for Mineral\nProjects (\"NI 43-101\"), is Mr. Simon Mortimer (FAIG #7795) of Atticus\nGeoscience Consulting Ltd. The effective date of the Mineral Resource Estimate\nis August 21, 2026.\n2. The MRE was prepared following the CIM Estimation of Mineral Resources &\nMineral Reserves Best Practice Guidelines (2019) and the CIM Definition\nStandards for Mineral Resources & Mineral Reserves (2014).\n3. The quantity and grade of the mineral resources reported in this\nexploration study are sufficient to define them as Inferred, Indicated, or\nMeasured mineral resources.\n4. Estimation domains were built from geological data of drill holes, surface\nmapping and using Ag grade thresholds of 15 ppm Ag based on statistical\nanalysis of the core assay.\n5. The Mineral Resource Statement is reported at a break-even NSR cut-off of\nUS$90.00/t (see Note 9 and Note 10), based on commodity prices, metallurgical\nrecoveries, selling costs, operating costs, and appropriate underground mine\nmodifying factors.\n6. Geological and block models for the MRE used data from a total of 61\nsurface drill holes, completed by Stroud Resources Ltd. The drill hole\ndatabase was validated prior to resource estimation and QA/QC checks were made\nusing industry-standard control charts for blanks, core duplicates and\ncommercial certified reference material inserted into assay batches by Stroud.\n7. Estimates have been rounded to 3 Significant Figures for Measured resources\nand 2 Significant Figures for Indicated and Inferred resources.\n8. A 2 m x 2 m x 2 m block model was created, and samples were composited at\n1.5 m intervals. Grade estimation from drill hole data was carried out for Ag\nand Au using the Inverse Distance Weight interpolation method in Micromine\nsoftware. The final resource was reported using a regularized block model with\na block size of 2 m x 2 m x 2 m, which was deemed appropriate for the\nmineralization style and potential mining selectivity.\n9. The MRE is reported above a base economic cut-off grade of US$90.00/t NSR\n(break-even), based on the continuity of mineralized blocks within the model.\nThe following parameters were applied to define this economic threshold:1.\nMining costs and revenues reported in US dollars (US$).\n2. Metal prices: US$73/oz silver (with a US$7.30/oz selling cost) and\nUS$4,550/oz gold (with a US$455.00/oz selling cost).\n3. Underground operational cost assumptions totaling US$90.00/t, consisting of\nUS$60.00/t for selective underground mining and US$30.00/t for processing and\nG&A, for a 3k tpd operation.\n4. Recovery percentage for the metals: Ag = 86% and Au = 95% (based on\ncomparative deposits in the region and their related economic studies).\n\n10. The Mineral Resource Statement reports resources using both calculated\nAgEq and NSR. Block value was calculated as:1. NSR ($/t) = Ag (ppm) * 1.82 +\nAu (ppm) * 125.07\n2. AgEq (ppm) = Ag (ppm) + Au (ppm) * 68.85\n\n11. The NSR values for each metal was determined using the metal prices and\nrecoveries stated in Note 9.\n12. Grade estimation was validated by comparison of input and output\nstatistics (Nearest Neighbour and Inverse Distance Squared methods), swath\nplot analysis, cross-plots of declustered samples, and by visual inspection of\nthe assay data, block model, and grade shells in cross-sections.\n13. The average density estimate of 2.65 g/cm³ (t/m³) is based on historical\nreference density information benchmarked to similar deposits in the area.\nMeeting Details\n\nSilver Hammer Meeting\n\nThe Annual General and Special Meeting of Silver Hammer shareholders (the\n\"Silver Hammer Meeting\") will be held in person at the offices of McMillan\nLLP, Suite 1500, 1055 West Georgia Street, Vancouver, British Columbia V6E\n4N7, on September 28, 2026 at 10:00 a.m. (Vancouver time).\n\nThe board of directors of Silver Hammer unanimously recommends that Silver\nHammer shareholders vote FOR the amalgamation resolution approving the\nAmalgamations.\n\nIn addition to the amalgamation resolution, Silver Hammer shareholders will\nalso be asked to consider certain annual business matters and other special\nbusiness, including: (i) the receipt of financial statements; (ii) the\nappointment of auditors; (iii) the election of directors to hold office until\nthe earlier of the next annual general meeting or the completion of the\nAmalgamations; (iv) conditional upon completion of the Amalgamations, the\nelection of the directors of the Resulting Issuer; (v) the creation and\nauthorization of the Contingent Value Shares; and (vi) the approval of the\nproposed 2026 Omnibus Equity Incentive Compensation Plan. Silver Hammer\nshareholders are encouraged to read the Silver Hammer information circular\ncarefully and in its entirety for a full description of all matters to be\nconsidered at the Silver Hammer Meeting.\n\nSilver Hammer shareholders may vote online, by mail, by telephone or by any\nother method provided in the form of proxy or voting instruction form which\nforms part of the Silver Hammer meeting materials. The proxy voting deadline\nfor the Silver Hammer Meeting is 10:00 a.m. (Vancouver time) on September 24,\n2026.\n\nSilver Hammer shareholders with questions or who require assistance may\ncontact Endeavor Trust Corporation at Suite 702 - 777 Hornby Street,\nVancouver, British Columbia, V6Z 1S4.\n\nStroud Meeting\n\nThe Annual General and Special Meeting of Stroud shareholders (the \"Stroud\nMeeting\") will be held virtually on September 28, 2026 at 10:30 a.m. (Toronto\ntime).\n\nThe board of directors of Stroud unanimously recommends that Stroud\nshareholders vote FOR the amalgamation resolution approving the Stroud\nAmalgamation.\n\nIn addition to the amalgamation resolution, Stroud shareholders will also be\nasked to consider certain annual business matters, including the election of\ndirectors and the re-appointment of the auditor. Stroud shareholders are\nencouraged to read the Stroud information circular carefully and in its\nentirety for a full description of all matters to be considered at the Stroud\nMeeting.\n\nStroud shareholders may vote online or by mail by returning the completed form\nof proxy to TSX Trust Company (Attention: Proxy Department) at 301 - 100\nAdelaide Street West, Toronto, Ontario M5H 4H1, or by voting online at\nwww.voteproxyonline.com, in each case not later than 10:30 a.m. (Toronto time)\non September 24, 2026.\n\nStroud shareholders with questions or who require assistance may contact TSX\nTrust Company at 1-866-600-5869.\n\nNational Instrument 43-101 Disclosure\n\nDr. Scott Jobin-Bevans, P.Geo. (PGO #0183), interim CEO of Stroud Resources\nLtd. and a Qualified Person as defined by NI 43-101 Standards of Disclosure\nfor Mineral Projects, has reviewed and approved the technical information in\nthis news release, on behalf of Silver Hammer Mining Corp. and Stroud\nResources Ltd.\n\nAbout Silver Hammer Mining Corp.\n\nSilver Hammer Mining Corp. (CSE: HAMR) is a mineral exploration and\ndevelopment company focused on acquiring, exploring and advancing precious\nmetals projects in the United States. Silver Hammer holds a 100% interest in\nthree exploration-stage silver properties: the Silver Strand Project in Idaho;\nthe Eliza Silver Project and the Silverton Silver Mine Project in Nevada.\nSilver Hammer also holds an option to acquire a 100% interest in the Fahey\nGroup Property in the Silver Belt portion of the Coeur d'Alene Mining\nDistrict, Idaho. Upon completion of the Amalgamations, Silver Hammer's\nportfolio will expand to include the advanced Santo Domingo silver-gold\nproperty in Jalisco State, Mexico, and an indirect interest in the Akka Mine\nsilver and polymetallic project and multiple exploration leases and mineral\nprojects in Morocco. The Company is led by a technical and management team\nwith extensive global experience in exploration, permitting, capital markets\nand development of mining projects. Silver Hammer's primary focus is to\nexplore, define and advance silver projects near past-producing mines, with\nadditional exposure to gold.\n\nAbout Stroud Resources Ltd.\n\nStroud Resources Ltd. (TSXV: SDR) is a Canadian mineral exploration company\nwhose mission is to create shareholder value through the exploration and\ndevelopment of its Santo Domingo silver-gold project located in Jalisco,\nMexico.\n\nOn Behalf of the Board of Silver Hammer Mining Corp.\n\nPeter A. Ball\nPresident & CEO, Director\nE: peter@silverhammermining.com\n\nOn Behalf of the Board of Stroud Resources Ltd.\n\nDr. Scott Jobin-Bevans\nInterim CEO, Director\nE: scott.jb@caraclecreek.com\n\nFor Investor Relations inquiries, contact:\n\nAndrew Gillin\nVP Corporate Development & Investor Relations\nC: 416.846.3581\nE: andrew@silverhammermining.com\n\nForward-Looking Information\nThis press release contains \"forward-looking information\" within the meaning\nof applicable Canadian securities legislation. Forward-looking information\nincludes, without limitation, statements relating to: the updated mineral\nresource estimate for the Santo Domingo Silver-Gold Project and the\nanticipated significance thereof; the proposed completion of the Amalgamations\nbetween Silver Hammer, Stroud and SilverMark; the anticipated benefits of the\nAmalgamations; and the anticipated results of the meetings of Silver Hammer\nshareholders and Stroud shareholders to be held on September 28, 2026 to\nconsider and vote on the Amalgamations. These statements are based upon\nassumptions that are subject to significant risks and uncertainties, including\nrisks regarding the mining industry, commodity prices, market conditions,\ngeneral economic factors, management's ability to manage and to operate the\nbusiness, and explore and develop the projects of the Company, and the equity\nmarkets generally. Forward-looking information is subject to significant risks\nand uncertainties, including, without limitation: the failure to obtain\nrequired shareholder, regulatory or third-party approvals; the failure to\nsatisfy other conditions to closing of the Amalgamations; risks inherent in\nthe mining industry, including risks relating to mineral resource estimation,\nexploration, development and operating activities; fluctuations in commodity\nprices, particularly silver and gold; changes in general economic conditions\nand financial markets; political and regulatory risks in the jurisdictions in\nwhich the resulting issuer will operate, including Mexico and Morocco;\ncurrency exchange rate fluctuations; and other risks described in the\nCompany's public filings available on SEDAR+ at www.sedarplus.ca. Because of\nthese risks and uncertainties and as a result of a variety of factors, the\nactual results, expectations, achievements or performance of the Company may\ndiffer materially from those anticipated and indicated by these\nforward-looking statements. Although the Company believes that the\nexpectations reflected in forward-looking statements are reasonable, it can\ngive no assurances that the expectations of any forward-looking statements\nwill prove to be correct. Except as required by applicable securities\nlegislation, the Company disclaims any intention and assumes no obligation to\nupdate or revise any forward-looking statements to reflect actual results,\nwhether as a result of new information, future events, changes in assumptions,\nchanges in business strategy or otherwise. This news release does not\nconstitute an offer to sell or a solicitation of an offer to sell any\nsecurities in the United States. The securities have not been and will not be\nregistered under the U.S. Securities Act or any state securities laws and may\nnot be offered or sold within the United States or to U.S. Persons unless\nregistered under the U.S. Securities Act and applicable state securities laws\nor an exemption from such registration is available.\n\nThe Canadian Securities Exchange does not accept responsibility for the\nadequacy or accuracy of this release. The Canadian Securities Exchange has\nneither approved nor disapproved the contents of this press release.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/312013"},"type":"article","timestamp":"2026-08-28T22:50:56.340411511Z","server_sent_at_ms":1787957456340},"received_at":"2026-08-28T22:50:56.521Z","source_url":"https://www.newsfilecorp.com/release/312013"},"analysis":{"id":"119573","press_release_id":"130663","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["reduction in reported contained ounces compared to 2017 MRE due to stricter methodology"],"eventType":"operations_update","narrative":"Silver Hammer and Stroud released an updated NI 43-101 mineral resource estimate for the Santo Domingo project, defining 5.7 million tonnes of indicated resources grading 79 g/t Ag and 0.42 g/t Au for 20 million silver-equivalent ounces.\n\nThe report applies stricter modeling, resulting in lower contained ounces than 2017 estimates but providing a more robust technical foundation for the planned amalgamation of the two companies.\n\nShareholder meetings to vote on the amalgamation are scheduled for September 28, 2026, with both boards recommending a vote in favor.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Updated resource estimate supports pending merger vote; ounces reduced but methodology improved."},"keyFigures":{"customDimensions":{"ag_recovery_pct":86,"au_recovery_pct":95,"inferred_tonnes":3900000,"indicated_tonnes":5700000,"inferred_ag_oz_moz":8.3,"inferred_au_oz_koz":36,"indicated_ag_oz_moz":14.3,"indicated_au_oz_koz":76,"inferred_ageq_oz_moz":11,"indicated_ageq_oz_moz":20,"inferred_ag_grade_gpt":66,"inferred_au_grade_gpt":0.31,"indicated_ag_grade_gpt":79,"indicated_au_grade_gpt":0.42,"cutoff_nsr_usd_per_tonne":90}},"quotedText":"we believe the resulting resource is significantly more robust, transparent and representative of the current geological understanding of the deposit","namedEntities":{"people":[{"name":"Mr. Simon Mortimer","role":"Independent Qualified Person"},{"name":"Dr. Scott Jobin-Bevans","role":"Interim CEO of Stroud Resources"},{"name":"Peter A. Ball","role":"President & CEO of Silver Hammer"},{"name":"Andrew Gillin","role":"VP Corporate Development & Investor Relations"}],"products":["Santo Domingo Silver-Gold Project"],"companies":[{"name":"Silver Hammer Mining Corp.","ticker":"HAMR"},{"name":"Stroud Resources Ltd.","ticker":"SDR","relationship":"partner"},{"name":"SilverMark Resources Inc.","relationship":"partner"},{"name":"Atticus Geoscience Consulting Ltd.","relationship":"consultant"}],"dollarAmounts":[{"amount":"US$90.0/t","context":"break-even underground mining net smelter return cut-off"},{"amount":"US$73/oz","context":"silver price assumption"},{"amount":"US$4,550/oz","context":"gold price assumption"}]},"materialImpact":{"score":3,"reasoning":"The updated NI 43-101 resource estimate is a critical technical milestone that de-risks the asset and supports the proposed amalgamation. While total ounces decreased versus 2017 due to stricter methodology, the update provides a robust foundation for economic assessment and shareholder voting on the merger."},"tickerRelevance":{"others":[{"ticker":"SDR","relevance":"partner"}],"primary":"HAMR"},"globalImportance":15,"audienceRelevance":12,"eventTypeSecondary":["m_and_a"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"resource-estimate-update","sectorWeight":"materials"}},"event_type":"operations_update","event_type_secondary":["m_and_a"],"sentiment":"bullish","material_impact_score":3,"narrative":"Silver Hammer and Stroud released an updated NI 43-101 mineral resource estimate for the Santo Domingo project, defining 5.7 million tonnes of indicated resources grading 79 g/t Ag and 0.42 g/t Au for 20 million silver-equivalent ounces.\n\nThe report applies stricter modeling, resulting in lower contained ounces than 2017 estimates but providing a more robust technical foundation for the planned amalgamation of the two companies.\n\nShareholder meetings to vote on the amalgamation are scheduled for September 28, 2026, with both boards recommending a vote in favor.","key_figures":{"customDimensions":{"ag_recovery_pct":86,"au_recovery_pct":95,"inferred_tonnes":3900000,"indicated_tonnes":5700000,"inferred_ag_oz_moz":8.3,"inferred_au_oz_koz":36,"indicated_ag_oz_moz":14.3,"indicated_au_oz_koz":76,"inferred_ageq_oz_moz":11,"indicated_ageq_oz_moz":20,"inferred_ag_grade_gpt":66,"inferred_au_grade_gpt":0.31,"indicated_ag_grade_gpt":79,"indicated_au_grade_gpt":0.42,"cutoff_nsr_usd_per_tonne":90}},"named_entities":{"people":[{"name":"Mr. Simon Mortimer","role":"Independent Qualified Person"},{"name":"Dr. Scott Jobin-Bevans","role":"Interim CEO of Stroud Resources"},{"name":"Peter A. Ball","role":"President & CEO of Silver Hammer"},{"name":"Andrew Gillin","role":"VP Corporate Development & Investor Relations"}],"products":["Santo Domingo Silver-Gold Project"],"companies":[{"name":"Silver Hammer Mining Corp.","ticker":"HAMR"},{"name":"Stroud Resources Ltd.","ticker":"SDR","relationship":"partner"},{"name":"SilverMark Resources Inc.","relationship":"partner"},{"name":"Atticus Geoscience Consulting Ltd.","relationship":"consultant"}],"dollarAmounts":[{"amount":"US$90.0/t","context":"break-even underground mining net smelter return cut-off"},{"amount":"US$73/oz","context":"silver price assumption"},{"amount":"US$4,550/oz","context":"gold price assumption"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-28T22:52:13.093Z","global_importance":15,"audience_relevance":12,"importance_components":{"tickerTier":"micro-cap","eventGravity":"resource-estimate-update","sectorWeight":"materials"}},"durationMs":null,"modelName":"glm-4.7"}}