07:08 AM EDT, 04/15/2026 (MT Newswires) -- Silver Mountain Resources ( AGMWF ) on Wednesday provided an update on development progress at the Reliquias mine in Peru as it transitions to production.

The company said it is fully funded for the planned restart with a treasury position of over US$30 million, reducing execution risk as the mine advances toward commercial production.

Over 3,000 meters of underground linear development have been completed, supporting mine readiness for the commencement of operations.

All major plant equipment have been delivered to site following refurbishment, with installation in progress.

About 12,000 tonnes of ore have been stockpiled, supporting the planned commencement of operations.

The tailings storage facility and ancillary infrastructure, including power lines and water treatment facilities, are now fully operational.

Silver Mountain's infill drilling program at Reliquias is progressing as planned, supporting mineral resource conversion and near-term mine planning. Meanwhile, brownfield exploration activities at the Caudalosa mine are also advancing according to plan.

The restart of operations at Reliquias remains on track for the third quarter of 2026.