Silver Mountain Announces a Corporate Update and New Targets on Its Ptarmingan Property

CALGARY, ALBERTA--(Marketwired - Feb. 28, 2017) - Silver Mountain Mines Inc. (TSX VENTURE:SMM) ("SMM" or the "Company") is pleased to release its 2016 audited financial statements posted on SEDAR (www.sedar.com) and the Company website (www.silvermountainmines.com). The Company is also announcing new exploration targets resulting from a thorough review of geophysical data on its wholly-owned Ptarmigan Property (the "Property"), located near Radium, British Columbia.

A review of all the Company's geophysical data was carried out by Dr. Jules Lajoie, who has over 35 years' experience and was previously the chief geophysicist with the Teck-Cominco group of companies. Dr. Lajoie has a very strong background in electromagnetic (EM) and induced polarization (IP) geophysical methods and has been involved with research teams interpreting complex electromagnetic challenges throughout his career. Dr. Lajoie's extensive experience has provided SMM with an improved geophysical understanding of the Ptarmigan project. "Dr. Lajoie and his business colleagues have enabled the Company to better understand the relationship between excellent geological results and the geophysics signatures that support the potential of a larger mineralized body", says Steve Konopelky, President and CEO of the Company.

The recent modelling of the Property's (Ag), lead (Pb), zinc (Zn) and gold (Au has resulted in a new high-priority target and other new targets that require follow-up by SMM. The Company is very encouraged by the positive geophysical interpretation, not only because it defines a much larger target area adjacent to the previously drilled mineralization, but also because it outlines other high priority anomalies for future trenching and drilling. Management is developing plans to conduct an exploration program to thoroughly investigate these new targets.

The IP anomaly reviewed and interpreted by Dr. Lajoie, along line L3950N has approximate surface dimensions of 180 metres (m) by 50. It consists of an area of coincidental high chargeability and low resistivity. It is located east of the former fault-controlled Ptarmigan Mine, underlying the valley floor and is interpreted to be a potential replacement body that showed strong chargeability and resistivity responses. (see Plan view chargeability map at http://www.silvermountainmines.com/maps.asp)