Silver Storm Mining Ltd. has increased its non-brokered private placement from 15,000,000 units to up to 30,000,000 units, targeting gross proceeds of up to $15.0 million following strong investor demand.

The upsized financing is priced at $0.50 per unit. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at $0.70 for 18 months following the closing of the offering. The offering is expected to close on or about August 25, 2026, subject to customary closing conditions and TSX Venture Exchange approval.

Silver Storm intends to direct the net proceeds toward funding surface and underground drilling programs at its La Parrilla Silver Mine Complex in Durango, Mexico, alongside general corporate and working capital needs. Cash commissions of up to 3.0% may be paid to eligible finders in compliance with exchange policies.

Securities issued under the placement will carry a four-month and one-day hold period from the issuance date. Eric Sprott's participation in the offering, structured as a related-party transaction, remains unchanged by the upsize.

Greg McKenzie, President & CEO, stated: “We are excited to add a significant strategic resource investor to our shareholder registry. Their backing validates the quality of our portfolio and provides additional capital to advance our growth programs. Together with Eric Sprott's continued support, this addition to our shareholder registry positions Silver Storm to accelerate its underground and surface drilling program at La Parrilla and its broader initiatives, as the Company moves forward.”

The financing builds on a series of capital-raising and operational steps undertaken by Silver Storm to advance the Durango property, including a US$7.0 million prepaid offtake financing facility with Samsung C&T and a US$5.0 million loan from First Majestic. Additionally, the company secured four-year environmental permits from Mexican authorities in June 2026 to construct 62 drill pads and 27 access roads for surface exploration across targets including La Ilusion - Argenis and 14 Marcos at La Parrilla.

Read the full announcement: Silver Storm Announces Upsize of Non-Brokered Private Placement to $15.0 Million