Mr. Ralph Rushton reports

AFTERMATH SILVER INCREASES PRIVATE PLACEMENT

Further to Aftermath Silver Ltd.'s news releases dated March 21, 2024, and April 2, 2024, it is increasing the size of its non-brokered private placement from up to 13,636,363 units of the company to up to 17.5 million units at a price of 22 cents per unit for aggregate gross proceeds of up to $3.85-million.

The first tranche of the private placement closed on April 2, 2024, the company issued 12,132,427 units for gross proceeds of $2,669,133.94.

Each unit consists of 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 to acquire one additional common share for a period of 24 months from the date of issuance at a price of 32 cents per common share.

The company intends to use the net proceeds of the private placement 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.

The private placement is subject to approval from the TSX Venture Exchange and the securities will be subject to a four-month-and-one-day hold period under securities laws.

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.

• Challacollo silver-gold project. The company owns a 100-per-cent interest in the Challacollo silver-gold project. A National Instrument 43-101 mineral resource was released on Dec. 15, 2020 (available on SEDAR+ and the company's website). The company is currently completing environmental permitting in anticipation of an upcoming 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 Sept. 16, 2020, the company released a CIM compliant mineral resource and accompanying NI 43-101 technical report (available on SEDAR+ and on the company's website).

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