Silver Bow Mining issues $5M note at SOFR+6.75% due March 31, 2027; raises CEO pay to $350K

SILVER BOW MINING CORP.

On Oct. 2, 2026, Silver Bow sold a $5.0M secured promissory note to Ocean Partners UK Limited for $5.0M cash; it matures March 31, 2027, and pays 12-month SOFR +6.75%, monthly from Nov. 1, 2026.
First-priority senior interest in the $28.58M Montana Goldfields note under the Aug. 21, 2026 asset purchase agreement for the Jefferson County Metallurgical Complex and Montana Tunnels Mine.
Note does not amortize; if Complex closing precedes maturity, principal and interest credit against Ocean Partners' tranche A draw under the prepayment facility; otherwise lump sum due at maturity.
Proceeds must be used solely to advance the Rainbow Block project and, when acquired, the Jefferson County Metallurgical Complex including the Montana Tunnels Mine.
Compensation Committee set CEO C. Travis Naugle's salary at $350,000 effective May 1, 2026, plus a $250,000 one-time bonus and $100,000 annual Executive Chairman fee effective Oct. 3, 2026.

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