SVL SUCCESSFULLY COMPLETES SHARE PURCHASE PLAN

About this update from Silver Mines Limited

Silver Mines Limited (ASX:SVL) (' Silver Mines' or 'the Company') is pleased to announce the results of the Share Purchase Plan ('SPP') announced on 5 August 2025 . The SPP closed at 5:00PM (AEST) on Wednesday, 27 August 2025 . The Company received applications and funds from eligible shareholders totalling $4.07 million which was well in excess of the original $3 million target raising. The level of demand received under the SPP is testament to the support from the Company's loyal and existing shareholders. The strong support for the SPP follows the successful completion of the Company's share placement ('Placement'), which raised $30 million (before costs), as announced by the Company on 5 August 2025 . The terms and conditions in the SPP Offer Booklet provided the Company with discretion to accept additional funds under the SPP should the Company receive valid applications over the original target amount. Accordingly, due to the strong demand from eligible shareholders, the Company has exercised this discretion and has decided to increase the size of the SPP to $4.07 million . The SPP therefore raised a total of $4.07 million (before costs). This means there will be no scale back, and all valid applications from eligible shareholders have been accepted. A total of 33,918,984 fully paid ordinary Silver Mines shares ('New Shares') will be issued under the SPP. The New Shares are being issued to eligible shareholders pursuant to ASX Listing Rule 7.2 Exception 5 and to a director of the Company pursuant to Listing Rule 10.12 (Exception 4). The New Shares will be issued on Wednesday, 3 September 2025 in line with the SPP timetable and an Appendix 2A will be released to the market on 3 September 2025 . The New Shares will be issued at the same price of shares issued under the Placement being $0.12 per share. If you have any questions in relation to the SPP, please contact the Share Registry between 9:00am to 5:00pm (AEST) Monday to Friday on 02 8591 8509 (+61 2 8591 8509 outside of Australia ). The Company would like to thank shareholders for their strong support of the SPP. This document has been authorised for release to the ASX by the Company's Managing Director, Mr Jonathan Battershill . Forward-Looking Statements This announcement may contain certain forward-looking statements, guidance, forecasts, estimates, prospects, projections or statements in relation to future matters that may involve risks or uncertainties and may involve significant items of subjective judgement and assumptions of future events that may or may not eventuate (Forward-Looking Statements). Forward-Looking Statements can generally be identified by the use of forward-looking words such as 'anticipate', 'estimates', 'will', 'should', 'could', 'may', 'expects', 'plans', 'forecast', 'target' or similar expressions and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production and expected costs. Indications of, and guidance on future earnings, cash flows, costs, financial position and performance are also Forward Looking Statements. Persons reading this announcement are cautioned that such statements are only predictions, and that actual future results or performance may be materially different. Forward-Looking Statements, opinions and estimates included in this announcement are based on assumptions and contingencies which are subject to change, without notice, as are statements about market and industry trends, which are based on interpretation of current market conditions. Forward-Looking Statements are provided as a general guide only and should not be relied on as a guarantee of future performance. No representation or warranty, express or implied, is made by Silver Mines that any Forward-Looking Statement will be achieved or proved to be correct. Further, Silver Mines disclaims any intent or obligation to update or revise any Forward-Looking Statement whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law. Contact: Tel: +61 2 8316 3997 Fax: +61 2 8316 3999 Email: [email protected] (C) 2025 Electronic News Publishing, source ENP Newswire

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