Silver Hammer Mining Corp. announced that it has recently completed a property-wide geophysical compilation at its Silver Strand Project in Idaho. Results were very positive and highlighted multiple new priority targets for the Company's 2023 exploration program.

Geophysical Compilation Summary: Fifteen moderate to priority exploration target zones were identified from the geophysical surveys. The higher ranked targets are associated with chargeability anomalies and moderate to low conductivity. Most of the targets are located within the Revett Formation, which hosts the Silver Strand Mine.

The targets primarily identified from the Direct Current Induced Polarization (DCIP) results are considered moderate to high priority for follow-up, because these areas most closely resemble the responses identified around the Silver Strand Mine. These targets will be scheduled for ground follow-up to investigate the geological sources of the responses, and further geological interpretation of the geophysical surveys may identify further structural information in the data. Technical Overview: Geophysical Compilation Overview: In 2004, DCIP and Very Low Frequency (VLF) surveys were conducted by Lou O'Connor and Minex Exploration for New Jersey Mining Company at the Silver Strand property.

In 2021, an Unmanned Aerial Vehicle (UAV) magnetic survey was completed by MWH Geo-Surveys International Inc. In 2022, Big Sky Geophysics completed a DCIP survey. The geophysical compilation and interpretation study was completed by Condor North Consulting ULC. The study was focused on investigating the resistivity and chargeability models along with the magnetic data to determine geophysical responses to help highlight areas of interest on the project area.

The 2004 DCIP and VLF survey consisted of 4 line- kilometres (km) of surveying over five lines. The DCIP survey used 50 metre (m) dipoles in a dipole-dipole electrode configuration. VLF readings were taken along the same lines at 12.5 m intervals using three stations, Jim Creek, Lualualei and Cutler.

The 2022 DCIP survey consisted of 4.5 line-km of surveying over 3 lines. A 100 m dipole spacing was used with a dipole-dipole electrode configuration. The conductivity results show that the southern half of the survey area is more conductive than the northern half.

The strongest conductivity feature runs along the south edge of the 2004 survey area. Several chargeability anomalies are present within the central portion of the surveys, including the Silver Strand Mine. UAV Magnetic Survey: The UAV magnetic survey was completed from August 3rd to 19th, 2021.

A total of 521 line- km was collected with a line spacing of 25 m (MWH, 2021). The measured magnetic data reveals a small variation in magnitude throughout the survey area. This small range indicates there is a low variation in the magnetic susceptibilities of the underlying rocks.

The magnetic data shows several west-northwest trending narrow magnetic highs, predominately along the southwest half of the grid. These highs may indicate the presence of mafic dikes, which is of interest due to the proximity of these dikes to mineralization found in the Silver Strand Mine. VLF Results: The 2004 VLF data identified several conductors, which corresponded with conductive areas in the DCIP conductivity model.

The VLF conductors appear to correlate with magnetic highs to the northeast of the mine area, while the southern conductive trend shows a more variable magnetic response. The two VLF anomalies to the southwest of the mine area are associated with a broad magnetic low. Target Zones Study: The purpose of this study was to compare DCIP, VLF and UAV magnetic data of a known mineral occurrence located at the Silver Strand Mine.

Target zones would have similar geophysical characteristics and may include areas of anomalous conductivity, chargeability and/or susceptibility. The 50 m draped depth slices from these two products are shown with the mapped mafic dikes at the mine site shown in black. From these images a chargeability anomaly and low conductivity are located along the western half of the dike location and extending further to the northwest.

The conductivity low may be related to silicification observed at the mine site, while the chargeability anomaly is likely caused by disseminated sulphides that are also present at the mine site. These observations indicate that other chargeability anomalies in the survey area, especially where they are coincident with conductivity lows, are of interest for further investigation. The target zones are based on the DCIP results along with the magnetic trends.

The geophysical responses observed in the area of the Silver Strand Mine were used to prioritize the targets.