Silver Mountain Announces Resignation of Alfredo Plenge as a Director
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Toronto, October 17, 2025 – Silver Mountain Resources Inc. (“Silver Mountain” or the “Company“) (TSXV:AGMR, OTCQB:AGMRF, BVL:AGMR) today announces that Alfredo Plenge has resigned from his position as a Director of the Company, effective October 17, 2025. The Company thanks Mr. Plenge for his service and contributions to the board.
Mr. Plenge Thorne has been a Director of Silver Mountain since December 31, 2020 and has provided valuable experience and guidance to the Company. His decision to step down was made for personal reasons.
The board of directors extends its sincere appreciation to Mr. Plenge Thorne for his dedication during his tenure, which included significant company milestones such as Silver Mountain’s initial public offering (IPO) in 2022 and several subsequent financings, secondary stock exchange listings on the Lima Stock Exchange and OTCQB in 2022, leadership and management transitions, significant underground drilling campaigns at Reliquias to identify new high-grade mineralization and extending known veins, a new resource estimate for the Reliquias project doubling the contained silver content in the measured and indicated categories, consolidating its land position in the Castrovirreyna district through its acquisition of the Lira de Plata project from Pan American Silver in 2022, delivering a positive PEA in May 2024 for the Reliquias project highlighting its economic viability, securing an extension of the Company’s Environmental Impact Assessment (EIA) permit until 2034 and receiving final government approval for its mine closure plan in 2024, signing a 20-year surface land-use agreements with local communities in 2024 and 2025, a crucial step for restarting mining operations, and beginning preparatory work for restarting the Reliquias project in September 2025, including mine development and maintenance of the processing plant and tailings facility.
The Company wishes him all the best in his future endeavors.
The board will now consist of José Vizquerra (Chairman), Juan Carlos Ortiz, Julio Arce, Tim Loftsgard, Johnny Decooman and Gerardo Fernandez. Mr. Plenge will remain as a consultant to the Company through a period of transition.
About Silver Mountain Resources Inc.
Silver Mountain Resources Inc. is a Canadian mining company focused on the exploration and development of silver projects in Peru. The Company’s principal asset is the Reliquias Project, a past-producing silver mine located in the Castrovirreyna district of Huancavelica. Silver Mountain is committed to creating long-term value for its shareholders through responsible mining, strong community engagement, and sustainable development practices.
For further information, please contact:
Alvaro Espinoza
Chief Executive Officer
Silver Mountain Resources Inc.
82 Richmond Street East, Toronto, ON M5C 1P1
+51 997 377 968
info@amgr.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to Silver Mountain’s current expectations and views of future events. Any statements that express or involve discussions as to expectations, beliefs, plans, objectives, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as “will likely result,” “are expected to, “expects”, “will continue,” “is anticipated,” “anticipates,” “believes,” “estimated,” “intends,” “plans,” “forecast,” “projection,” “strategy,” “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions, and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct, and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under “Caution Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Information Form dated July 17, 2025, and other disclosure documents available on the Company’s profile on SEDAR+ at www.sedarplus.ca. Silver Mountain undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Silver Mountain to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.