SILVER MOUNTAIN RESOURCES ANNOUNCES THE RESULTS OF THE ANNUAL AND EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS


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TSXV.AGMR

TORONTO, June 23, 2022 /CNW/ – Silver Mountain Resources Inc. (“silver mountain“or the”Company“) is pleased to announce the results of its annual and special general meeting of shareholders held on June 23, 2022 (there “Meeting“).

Silver Mountain Resources Inc. logo (CNW Group/Silver Mountain Resources Inc.)

At the Meeting, each of the nominee directors named in the Company’s management information circular dated May 20, 2022 (there “Circular“) were elected directors of the Company, including Julio Jose Arce Ortiz, Alfredo Plenge Thorne, Alfredo Bazo, Jose Vizquerra, Victoria Vargas and Blair Zaritsky. The shareholders of the Company also approved the renewal of the mandate of BDO Canada LLP as auditors of the Company for the coming year and authorized the Board of Directors to fix their remuneration and their conditions of engagement.

At the Meeting, the shareholders of the Company also approved the Company’s rolling ten percent (10%) option plan (the “Stock option plan“), in accordance with the rules and policies of the TSX Venture Exchange. A copy of the Stock Option Plan is attached to the Circular, which is available on the Company’s SEDAR profile at www.sedar .com.

About Silver Mountain

Silver Mountain Resources Inc. is a silver explorer and mine developer that plans to resume 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 SAC, owns 100% of its concessions and holds more than 27,000 Ha. in the district of Castrovirreyna, in Huancavelica, Peru.

Forward-looking statements

This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements“) that relate to Silver Mountain’s current expectations and beliefs about future events. Any statement that expresses or involves discussions of expectations, beliefs, plans, goals, assumptions, or future events or performance (often , but not always, by the use of words or phrases such as “will probably result”, “should”, “expect”, “will continue”, “is planned”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “forecast”, “projection”, “strategy”, “goal” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties that could cause actual results to differ materially from those expressed in such forward-looking statements. No guarantee can be given that such expectations will prove to be correct and undue reliance should not be placed on any forward-looking statements included in this press release. These statements speak only as of the date of this press 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 or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the factors set forth under “Statement regarding forward-looking information” and “Risk factors” in the definitive prospectus of the Company 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 required by law. New factors appear from time to time, and it is not possible for Silver Mountain to predict all of them, or to assess the impact of each of these factors or the extent to which any one factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. All forward-looking statements contained in this press 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 press release.

SOURCESilver Mountain Resources Inc.

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