Silver Storm Mining

Description

Silver Storm Mining Ltd. (TSXV: SVRS) is a Canadian silver producer restarting the 100%-owned La Parrilla Silver Mine Complex in Durango, Mexico. The asset includes five underground mines, the Quebradillas open pit and existing oxide and sulphide processing circuits with total installed capacity of approximately 2,000 tpd.

The investment case is a relatively low-capital restart using existing underground and plant infrastructure. Silver-gold doré production began in June 2026, while initial lead-silver and zinc concentrate shipments followed in July. Management is targeting steady-state operations by Q1 2027, with the sulphide circuit ramping toward approximately 1,250 tpd.

La Parrilla’s 2024 mineral resource contains 1.197Mt indicated at 280 g/t AgEq for 10.765Moz AgEq plus 1.988Mt inferred at 255 g/t AgEq for 16.269Moz AgEq. A 15,000m 2026 drill program is targeting additional resource growth. The 100%-owned San Diego Project provides longer-term resource-stage optionality but requires updated technical work before development.

List of Projects:

Project 1: La Parrilla Silver Mine Complex, Durango, Mexico — 100%-owned flagship near-producer silver-gold-lead-zinc operation. Includes Rosarios, La Rosa, San Jose, Quebradillas and San Marcos underground mines, the Quebradillas open pit and existing oxide/sulphide processing circuits.

Project 2: San Diego, Durango, Mexico — 100%-owned resource-stage silver-gold/base-metal project subject to a 2% NSR. The 2013 resource is substantial but dated and requires updated drilling, metallurgy and economic studies before development.

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