Silver Bow Mining (SBMT) Proxy filing summary

Executive summary

• Entered into an asset purchase agreement to acquire specified assets of Montana Tunnels Mining, Inc. and related entities, with initial closing on September 4, 2026, following U.S. Bankruptcy Court approval.

• Approximately $28.58 million was released from escrow to satisfy creditor obligations, including payments to Jefferson County and the Montana Department of Environmental Quality.

• In exchange, a senior secured promissory note was issued, secured by a general security agreement, a pledge of shares, and a mortgage on real property and fixtures.

• Additional financing included the purchase of $5 million in senior secured notes from Montana Goldfields, Inc., bearing 8% interest and secured by contingent value rights and subsidiary shares.

• Shareholder support agreements were executed to ensure approval and non-interference with the acquisition.

Voting matters and shareholder proposals

• Shareholder approval is being sought for the issuance of contingent value rights (CVRs) and underlying common shares at a forthcoming meeting.

• Proxy materials will be filed with the SEC, and shareholders are urged to review these documents for important information regarding the approval being requested.

Board of directors and corporate governance

• Directors and executive officers may be deemed participants in the proxy solicitation for the proposed transaction.

• Information on directors, officers, and their holdings is available in the company's registration statement and will be updated in the proxy statement.