Silver Mountain Resources Inc. — Capital/Financing Update 2025

Jul 22, 2025

M

MINTZ

200 Bay Street, South Tower

Suite 2800

Toronto, ON

647 499 2828

mintz.com

July 21, 2025

VIA SEDAR+

Ontario Securities Commission, as principal regulator
British Columbia Securities Commission
Alberta Securities Commission
Financial and Consumer Affairs Authority of Saskatchewan
Manitoba Securities Commission
Autorité des marchés financiers
Financial and Consumer Services Commission - New Brunswick
Nova Scotia Securities Commission
Financial and Consumer Services Division - Prince Edward Island
Office of the Superintendent of Securities Services - Newfoundland and Labrador
Office of the Yukon Superintendent of Securities
Office of the Superintendent of Securities - Northwest Territories
Office of the Superintendent of Securities - Nunavut

Dear Sirs/Mesdames,

Re: Silver Mountain Resources Inc. (the "Company") Prospectus Supplement dated July 21, 2025 to the Short Form Base Shelf Prospectus dated October 28, 2024 (the "Prospectus Supplement")

In connection with the Prospectus Supplement, we consent to the use of our name, Mintz LLP, on page (iii) and under the heading "Legal Matters & Interest of Experts" in the Prospectus Supplement and to the use of our name and legal opinion under the heading "Eligibility for Investment" in the Prospectus Supplement.

We confirm that we have read the Prospectus Supplement and have no reason to believe that there are any misrepresentations in the information contained therein that is derived from our opinions or that is within our knowledge as a result of the services we performed in connection with such opinions.

Yours truly,

"Mintz LLP"

BOSTON LOS ANGELES MIAMI NEW YORK SAN DIEGO SAN FRANCISCO TORONTO WASHINGTON

MINTZ LLP