Silver Bow Mining (SBMT) Proxy filing summary

Executive summary

• First Amendment, effective Oct. 14 and executed Oct. 20, 2026, revises the Aug. 21 asset purchase agreement for the Montana Tunnels Mine and Diamond Hill Mill assets.

• The Outside Date is now 60 days after delivery of MTMI audited financial statements for its last two fiscal years, in form satisfactory for the proxy statement.

• Sellers will use reasonable efforts to deliver MTMI audited financial statements by Oct. 31, 2026; statements must be audited by a PCAOB-registered firm under PCAOB standards.

Voting matters and shareholder proposals

• A preliminary proxy is to be filed within 5 business days after delivery of suitable MTMI audited financial statements; it will seek shareholder approval for the transaction.

• The proposed shareholder meeting will seek approval for issuance of CVRs and the underlying common shares.

Risk oversight and compliance

• Transaction completion may depend on Bankruptcy Court, governmental, shareholder and NYSE American approvals, as well as satisfaction of closing conditions.

• Identified risks include permit transferability, reclamation and environmental liabilities, capital availability, feasibility-study results, commodity-price changes and mining operational hazards.