Mr. Ralph Rushton reports

AFTERMATH SILVER ADDED TO THE SOLACTIVE GLOBAL SILVER MINERS TOTAL RETURN INDEX

Aftermath Silver Ltd. has been added to the Solactive Global Silver Miners Total Return Index, effective Nov. 1, 2024. The Solactive Global Silver Miners Total Return Index is calculated administrated and distributed by Solactive. The index tracks the price movements in shares of companies that are active in the silver mining industry.

Warrants

The company is also pleased to announce that 4,854,566 of its outstanding warrants to purchase common shares of the company have been exercised since Oct. 17, 2024, for cash proceeds to the company of $1,379,891. 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. Aftermath currently has $10.55-million in cash and GICs (guaranteed investment certificates).

In addition, as previously announced on Oct. 16, 2024, Aftermath intends to complete a non-brokered private placement of up to 22,222,222 units, to be sold at a price of 45 cents per unit, for total gross proceeds of up to $10-million, as a result of which 2176423 Ontario Ltd., a corporation beneficially owned and controlled by Eric Sprott, will become a control person of the company (as such term is defined in the policies of the TSX Venture Exchange).

The private placement is subject to approval of the TSX-V and disinterested shareholder approval. The company will be seeking shareholder approval for the creation of a new control person pursuant to the private placement at a meeting of the shareholders of the company to be held on Nov. 20, 2024.

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 mineral 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 U.S. 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 RC (reverse circulation) holes.
• Metallurgical test work is under way adding to historic work, with the goal of producing silver and copper metal and a commercial battery-grade or fertilizer-grade manganese product.

Qualified person

Michael Parker, a fellow of the AusIMM (Australasian Institute of Mining and Metallurgy) 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.

Dan Kappes, a registered professional engineer (mining engineer No. 3223; metallurgical engineer No. 3223) in the state of Nevada, United States, and founder and president of Kappes Cassiday & Associates, is the qualified person set out in National Instrument 43-101 responsible for overseeing the design and execution of the metallurgical test program and has reviewed and approved the contents of this release.

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. An NI 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 a coming drill program.
• Cachinal silver-gold project: The Company owns a 100-per-cent interest in the Cachinal silver-gold project, located 2.5 hours south of Antofagasta. On Sept. 16, 2020, the company released a CIM-compliant (Canadian Institute of Mining, Metallurgy and Petroleum) mineral resource and accompanying NI 43-101 technical report (available on SEDAR+ and on the company's website).

We seek Safe Harbor.