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Silver Bow Mining Receives Authorization to Proceed from Montana DEQ for Expanded Rainbow Block Exploration Program

Authorization enables Silver Bow Mining to advance underground development, bulk sampling, and expanded surface drilling at its flagship Critical Minerals project.

BUTTE, Montana — May 26, 2026 — (Newsfile Corp.) — Silver Bow Mining Corp. (NYSE American: SBMT) announced today that the Montana Department of Environmental Quality (“MT DEQ”) issued Silver Bow Mining an Authorization to Proceed (“AtP”) for Amendment 2 (“AMD2”) to Exploration License No. 00857 at the Company’s flagship Rainbow Block project in Butte, Montana. Silver Bow Mining is fully authorized to conduct all surface and underground exploration activities outlined in its approved Plan of Operations.

MT DEQ dated the AtP effective May 18, 2026, following the Company’s satisfaction of all regulatory conditions, including the posting of a $2,188,039 surety bond for anticipated reclamation costs and MT DEQ’s finalization of a Final Environmental Assessment on May 8, 2026.

“Receipt of the Authorization to Proceed marks an important milestone for Silver Bow Mining. We have completed a thorough environmental review process, satisfied regulatory requirements, and we are now cleared to advance the next phase of exploration at the Rainbow Block.”Travis Naugle — Chairman & CEO

Highlights of Authorized AMD2 Activities

  • Rainbow Decline: one new 16 ft × 15 ft portal and approximately 6,000 feet of underground development connecting to the existing Lexington Mine shaft at the 400-foot level.
  • Surface drilling: up to seven new drill pads and up to 53 surface core holes totaling approximately 102,000 feet, with individual holes reaching depths of up to 7,000 feet.
  • Underground drilling from within the Rainbow Decline to support mineral resource definition.
  • Bulk sampling: stockpile up to 10,000 tons of mineralized material for bulk metallurgical testing.
  • Project area: disturb up to approximately 11.95 acres, all on previously disturbed private land in Walkerville and Butte, Montana.
  • Timeline: complete all exploration activities by December 31, 2029, with reclamation completed no later than December 31, 2031.

The Rainbow Block project is an exploration-stage project, and the Company has not established mineral reserves or demonstrated economic viability.

About Silver Bow Mining Corp.

Silver Bow Mining Corp. is a minerals exploration company advancing the Butte Mining District of Montana, targeting a broad suite of U.S.-designated Critical Minerals — including silver, copper, zinc, lead, manganese, germanium, gallium, antimony, bismuth, and indium — alongside gold. The Company holds approximately 4,193 acres of patented mineral claims and approximately 1,410 acres of surface lands across multiple claim blocks in this historically prolific district, including the flagship Rainbow Block.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, that address activities, events or developments the Company expects or anticipates will or may occur in the future are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Additional risk factors are discussed under the headings “Forward-Looking Statements” and “Risk Factors” in the Company’s Registration Statement on Form S-1, as amended, filed with the U.S. Securities and Exchange Commission on April 24, 2026, the Company’s Canadian prospectus dated April 29, 2026, filed on SEDAR+, and in other documents filed with securities regulators. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of the applicable release. Except as required by law, the Company undertakes no obligation to update forward-looking statements.