Silver Mountain Resources Inc. announced the discovery of the Natividad vein, a new copper rich vein at its 100% owned Reliquias mine, central Peru. Results from three of the initial four drill holes completed at Natividad have been received, all part of Phase 2 of the company´s 2023 infill and resource expansion program. Drilling has also hit very high gold and silver grades near the Sacasipuedes vein, within a mineralized breccia body with strong argillic alteration.

Phase 2 of the 2023 drill program consists of 12,500 metres of NQ and HQ drilling aimed at infilling and growing the Company´s current mineral resource estimate. So far, drilling crews have completed approximately 7,600 metres of this program with two underground rigs, and the Company has received results from 18 drill holes. The company has so far completed 22 drill holes on the Sacasipuedes and Perseguida vein systems from three underground drill platforms, two from Sacasipuedes and one from Perseguida.

The Natividad discovery was made through drilling originally aimed at the Sacasipuedes vein, the results of which are also included in this release. Drill Hole SMR135-23-SCS (newly identified Natividad, or ?NAT? vein): 1.55 m @ 81 g/t Ag, 2.51% Pb, 4.57% Zn, 1.80% Cu and 0.25 g/t Au, including 1.00 m @ 106 g/t Ag, 3.37% Pb, 5.84% Zn, 2.56% Cu and 0.09 g/t Au; Drill Hole SMR140-23-SCS (NAT vein) 2.20 m @ 42 g/t Ag, 2.79% Pb, 3.84% Zn, 0.75% Cu and 0.06 g/t Au, including 1.00 m @ 62 g/t Ag, 5.40% Pb, 4.70% Zn, 0.98% Cu and 0.06 g/t Au; Drill Hole SMR140-23-SCS (mineralized breccia) 0.60 m @ 1,319.55 g/t Ag, 0.86% Pb, 2.82% Zn, 0.03% Cu and 6.19 g/t Au, including 0.30 m @ 2,623.00 g/t Ag, 1.68% Pb, 5.60% Zn, 0.06% Cu and 12.20 g/t Au.