Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

On October 20, 2026, Silver Bow Mining Corp. (the "Company") entered a First Amendment to Asset Purchase Agreement with an effective date of October 14, 2026 (this "Amendment"), which amends that certain Asset Purchase Agreement, dated August 21, 2026 (the "Original Agreement"), by and among Montana Goldfields, Inc., a Delaware corporation ("MTGF"), Montana Tunnels Mining, Inc., a Delaware corporation ("MTMI" and, collectively with MTGF, "Sellers" and each a "Seller") and the Company and Silver Bow Tunnels Corp., a Montana corporation ("SBTC" and, collectively with the Company, "Buyers" and each a "Buyer").

Pursuant to the Amendment, the Sellers and Buyers agreed to amend the Original Agreement as follows:

The definition of "Outside Date in the Original Agreement was amended to mean the date that is 60 days following delivery by the Sellers to the Buyers of the audited financial statements of MTMI for its last two fiscal years in form satisfactory for inclusion in the Proxy Statement as required under Section 5.17 of the Original Agreement

The first sentence of Section 5.4 of the Original Agreement was amended to provide that the Company will, as promptly as reasonably practicable (and in any event within 5 Business Days following the following delivery by the Sellers to the Buyers of the audited financial statements of MTMI for its last two fiscal years in form satisfactory for inclusion in the Proxy Statement as required under Section 5.17 of the Original Agreement), prepare and file with the Commission, in preliminary form, a proxy statement relating to a meeting of the Company's shareholders (the "Company Shareholders Meeting") (as amended or supplemented from time to time, the "Proxy Statement") for the purpose of obtaining the Company Shareholder Approval.

The first sentence of Section 5.17 of the Original Agreement was amended to provide that, in connection with the preparation of the Proxy Statement, Sellers will use reasonable efforts to produce audited financial statements of MTMI for its last two fiscal years or such other periods as may be required by the Commission for inclusion in the Proxy Statement, audited by an independent public accounting firm registered with the PCAOB in accordance with the standards of the PCAOB (the "MTMI Audited Financials"), no later than October 31, 2026.

Except as specifically modified and amended as stated above, the Original Agreement remains in full force and effect without revision thereto, as more fully described in the Company's Current Report on Form 8-K as filed with the Commission on August 24, 2026.

The foregoing is a summary of the material terms of the Amendment and is subject to, and qualified in its entirety by, the full text of the Amendment which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

A copy of the Amendment has been included as Exhibit 10.1 hereto to provide investors with information regarding its terms. It is not intended to provide any other factual information about the parties thereto or any of their respective subsidiaries or affiliates. The covenants contained in the Amendment were made only for purposes of that agreement and as of specific dates; were made solely for the benefit of the parties to the Amendment; may be subject to limitations agreed upon by the parties thereto, including being qualified by confidential disclosures; may not have been intended to be statements of fact, but rather, as a method of allocating contractual risk and governing the contractual rights and relationships between the parties to the Amendment; and may be subject to standards of materiality applicable to the parties that differ from those applicable to investors. Investors should not rely on the covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties thereto or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of the covenants may change after the date of the Amendment, which subsequent information may or may not be fully reflected in any public disclosures. Accordingly, investors should read the covenants in the Amendment not in isolation but only in conjunction with the other information about the parties or any of their respective subsidiaries or affiliates that they include in reports, statements and other filings they make with the Commission and the Canadian Securities Regulators.