Silver Mountain Resources Inc. — AGM Information 2024

Jun 6, 2024

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SILVER MOUNTAIN RESOURCES INC.

Form of Proxy – Annual General and Special Meeting to be held on June 27, 2024

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Trader’s Bank Building 702, 67 Yonge Street Toronto ON M5E 1J8

Appointment of Proxyholder

I/We being the undersigned holder(s) of Silver Mountain Resources Inc. hereby appoint Alvaro Espinoza or failing this person, Alejandra Soto OR

Print the name of the person you are appointing if this person is someone other than the Management Nominees listed herein:

as my/our proxyholder with full power of substitution and to attend, act, and to vote for and on behalf of the holder in accordance with the following direction (or if no directions have been given, as the proxyholder sees fit) and all other matters that may properly come before the Annual General and Special Meeting of Silver Mountain Resources Inc. (the " Corporation ") to be held at the offices of Mintz LLP, located at Suite 2800 - 200 Bay Street, Toronto, ON, M5J 2J3 at 1:00 pm or at any adjournment thereof.

1. Election of Directors. For Against For Against For Against a. Julio Jose Arce Ortiz b. Alfredo Plenge Thorne c. Jose Vizquerra d. Juan Carlos Ortiz e. Timothy Loftsgard f. W. John DeCooman Jr. g. Gerardo Fernandez For Withhold 2. Appointment of Auditors. To reappoint BDO Canada LLP as the auditors of the Corporation for the ensuing year and to authorize the board of directors of the Corporation to fix their remuneration and terms of engagement. 3. Annual Approval of Omnibus Plan. To consider and, if deemed appropriate, pass an ordinary resolution to confirm and approve the Corporation's For Against "rolling 10% plan" in respect of stock options and a "fixed 10% plan" in respect of other awards, as required by the TSX Venture Exchange on an annual basis and as more particularly described in the accompanying information circular. 4. Approval of Security-Based Compensation to Non-Arm's Length Parties. To consider and, if deemed appropriate, pass an ordinary resolution to For Against

4. Approval of Security-Based Compensation to Non-Arm's Length Parties. To consider and, if deemed appropriate, pass an ordinary resolution to approve certain security-based compensation to non-arm's length parties of the Corporation, subject to the approval of the TSX Venture Exchange and as more particularly described in the accompanying information circular.

Authorized Signature(s) – This section must be completed for your instructions to be executed.

I/we authorize you to act in accordance with my/our instructions set out above. I/We hereby revoke any proxy previously given with respect to the Meeting. If no voting instructions are indicated above, this Proxy will be voted as recommended by Management.

Signature(s):

Date

MM / DD / YY

Interim Financial Statements – Check the box to the right if you would like to receive interim financial statements and accompanying Management’s Discussion & Analysis by mail. See reverse for instructions to sign up for delivery by email.

Annual Financial Statements – Check the box to the right if you would like to NOT RECEIVE the Annual Financial Statements and accompanying Management’s Discussion and Analysis by mail. See reverse for instructions to sign up for delivery by email.

INSTEAD OF MAILING THIS PROXY, YOU MAY SUBMIT YOUR PROXY USING SECURE ONLINE VOTING AVAILABLE ANYTIME:

This form of proxy is solicited by and on behalf of Management. Proxies must be received by 1:00 pm, Eastern, on June 25, 2024.

Notes to Proxy

1. Each holder has the right to appoint a person, who need not be a holder, to attend and represent them at the Meeting. If you wish to appoint a person other than the persons whose names are printed herein, please insert the name of your chosen proxyholder in the space provided on the reverse.

2. If the securities are registered in the name of more than one holder (for example, joint ownership, trustees, executors, etc.) then all of the registered owners must sign this proxy in the space provided on the reverse. If you are voting on behalf of a corporation or another individual, you may be required to provide documentation evidencing your power to sign this proxy with signing capacity stated.

3. This proxy should be signed in the exact manner as the name appears on the proxy. 4. If this proxy is not dated, it will be deemed to bear the date on which it is mailed by Management to the holder.

4. The securities represented by this proxy will be voted as directed by the holder; however, if such a direction is not made in respect of any matter, this proxy will be voted as recommended by Management.

5. The securities represented by this proxy will be voted or withheld from voting, in accordance with the instructions of the holder, on any ballot that may be called for and, if the holder has specified a choice with respect to any matter to be acted on, the securities will be voted accordingly.

6. This proxy confers discretionary authority in respect of amendments to matters identified in the Notice of Meeting or other matters that may properly come before the meeting.

7. This proxy should be read in conjunction with the accompanying documentation provided by Management.

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To Vote Your Proxy Online please visit: https://vote.odysseytrust.com

You will require the CONTROL NUMBER printed with your address to the right.

If you vote by Internet, do not mail this proxy.

To request the receipt of future documents via email and/or to sign up for Securityholder Online services, you may contact Odyssey Trust Company at https://odysseytrust.com/ca-en/help/ .

Voting by mail may be the only method for securities held in the name of a corporation or securities being voted on behalf of another individual. A return envelope has been enclosed for voting by mail.