Mr. Ralph Rushton reports

AFTERMATH SILVER ANNOUNCES PROPOSED WARRANT EXTENSION

Subject to receipt of required approval from the TSX Venture Exchange, Aftermath Silver Ltd. will extend the expiry of a total of 7,921,199 outstanding common share purchase warrants.

The warrants were issued pursuant to a private placement offering, which closed on Nov. 14, 2019, pursuant to which the company issued 16.5 million units of the company at a price of 20 cents per unit. Each unit consisted of one common share of the company and one-half of one warrant, with each whole warrant entitling the holder thereof to purchase an additional share until Nov. 14, 2022, at an exercise price of 25 cents.

The term of the warrants will be amended to extend the expiry date of the warrants by one year from Nov. 14, 2022, to Nov. 14, 2023. All other terms and conditions of the warrants will remain unchanged.

About Aftermath Silver Ltd.

Aftermath is a leading Canadian junior exploration company focused on silver, and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of advancement. The company's projects have been selected based on growth and development potential.

• Berenguela silver-copper project: The company has an option to acquire a 100-per-cent interest through a binding agreement with SSR Mining. The project is located in the department of Puno in south-central Peru. A National Instrument 43-101 technical report on the property was filed in February, 2021 (available on SEDAR and the company's web page). The company is currently drilling at Berenguela and planning to advance the project through a prefeasibility study.
• Challacollo silver-gold project: The company recently completed the acquisition of a 100-per-cent interest in the Challacollo silver-gold project from Mandalay Resources. See the company news release dated Aug. 11, 2022. An NI 43-101 mineral resource was released on Dec. 15, 2020 (available on SEDAR and the company's web page). The company is currently permitting road access in anticipation of a coming drill program.
• Cachinal silver-gold project: The company owns a 100-per-cent interest in the Cachinal Ag-Au project, located 2.5 hours south of Antofagasta. On June 11, 2022, Aftermath announced it had reached an agreement to sell Cachinal to Honey Badger Silver Inc. On Sept. 16, 2020, the company released a CIM (Canadian Institute of Mining, Metallurgy and Petroleum)-compliant mineral resource and accompanying NI 43-101 technical report (available on SEDAR and on the company's web page).

We seek Safe Harbor.