Silver Hammer Mining Corp. — Capital/Financing Update 2024

Oct 1, 2024

FORM 51-102F3 MATERIAL CHANGE REPORT

Item 1 – Name and Address of Company

Silver Hammer Mining Corp. (the “ Company ”) 300-1055 West Hastings Street Vancouver, British Columbia V6C 2E9

Item 2 – Date of Material Change

October 1, 2024

Item 3 – News Release

A news release was issued and disseminated on September 23, 2024 and October 1, 2024 and filed on SEDAR+ (www.sedarplus.ca).

Item 4 – Summary of Material Change

On September 23, 2024, the Company announced an update on it’s non-brokered private placement of up to 27,000,000 units of the Company (the “ Units ”) and announced it’s intention to complete debt settlements (the “ Debt Settlements ”).

On October 1, 2024, the Company announced the completion of the Debt Settlements.

Item 5 – Full Description of Material Change

5.1 Full Description of Material Change

September 23, 2024 news release:

The Company continued to focus on its non-brokered private placement of Units at CAN$0.055 per Unit for gross proceeds of up to CAN$1,485,000 (the “ Offering ”), which was previously announced on July 31, 2024. Each Unit will consist of one common share in the capital of the Company (a “ Share ”) and one transferrable common share purchase warrant (a “ Warrant ”). Each Warrant will entitle the holder thereof to purchase one additional Share at a price of CAN$0.07 for a period of three years from the closing of the Offering.

To ensure that funds raised from the current private placement are directed to exploring the Company’s high-grade 100% controlled silver projects in Idaho and Nevada, the Company announced that, subject to regulatory approval, it intends to complete the Debt Settlements by the issuance of a total of 3,389,092 common shares at a deemed price of $0.055 per share to settle debts owing pursuant to past consulting and accounting services provided to the Company for a total amount of CAN$186,400.02 (excluding GST).

The securities issued in connection with the Debt Settlements will be subject to a statutory hold period of four months and one day following the closing of the Debt Settlements in accordance with applicable securities legislation.

2

October 1, 2024 news release:

The Company announced that it has completed the Debt Settlements and issued an aggregate of 3,389,092 Shares of the Company, having a deemed value of $0.055 per Share pursuant to past consulting and accounting services provided to the Company for a total amount of $186,400.02.

5.2 – Disclosure for Restructuring Transactions

Not applicable

Item 6 – Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable

Item 7 – Omitted Information

Not applicable

Item 8 – Executive Officer

Peter A. Ball Chief Executive Officer and Director Telephone: 778.344.4653 Email: investors@silverhammermining.com

Item 9 – Date of Report

October 1, 2024

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