Mr. Ralph Rushton reports

AFTERMATH SILVER ANNOUNCES $3.0 MILLION NON-BROKERED PRIVATE PLACEMENT

Aftermath Silver Ltd. intends to complete a non-brokered private placement of up to 13,636,363 units to be sold at a price of 22 cents per unit for total gross proceeds of up to $3-million.

Each unit will comprise one common share in the capital of the company and one-half of one non-transferable common share purchase warrant. Each warrant is exercisable by the holder thereof to acquire one additional common share for a period of 24 months from the date of issuance at a price of 32 cents per warrant share.

The company intends to use the net proceeds to complete geological, metallurgical and engineering studies at the company's Berenguela silver-copper-manganese project in southern Peru, and for general working capital purposes.

Finder's fees may be paid to certain finders in connection with the offering, such fees being:

• A cash fee of 6 per cent of the gross proceeds raised from subscribers introduced to the company by the finders; and

• To eligible parties, such number of finder's warrants equal to 6 per cent of the number of units acquired by subscribers introduced to the company by the finders. Each finder's warrant will entitle the holder thereof to purchase one share at a price of 32 cents per share for 24 months from the date of issuance.

All securities issued with respect to the private placement will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws. Closing of the private placement is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange.

Berenguela project

Background

The company has an option to acquire a 100-per-cent interest in Berenguela through a binding agreement with SSR Mining. Berenguela hosts a potentially open-pittable silver-copper-manganese resource close to Santa Lucia in Puno province, southern Peru.

Silver, copper and manganese have crucial industrial applications in the clean energy and battery spaces. Copper and manganese have been designated critical metals by the United States government and the European Union.

The project is less than six kilometres from road, rail and power lines and four hours from Arequipa by sealed road.

Aftermath published a resource estimate in March, 2023, based on over 300 core and reverse circulation holes.

Recent bench-scale metallurgical test work successfully produced commercial battery-grade 99.98 per cent pure manganese sulphate crystals (see news release dated Feb. 29, 2024).

Qualified person

Michael Parker, a fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent qualified person, as defined by National Instrument 43-101. Mr. Parker has reviewed the technical content of this news release and consents to the information provided in the form and context in which it appears.

About Aftermath Silver Ltd.

Aftermath Silver 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.

We seek Safe Harbor.