Mr. Devin Devarennes reports

SILVER TIGER INTERSECTS 2.1 METRES OF 7.72 KILOGRAMS PER TONNE SILVER EQUIVALENT IN THE CALEIGH VEIN INCLUDING 0.53 METRES OF 29.62 KILOGRAMS

Silver Tiger Metals Inc. has released the exploration results for the 2026 summer program on the northern area of its 100-per-cent-owned, silver-gold El Tigre project, located in Sonora, Mexico. In addition, this news release details the confirmatory, high-grade assay results from the 2025 geotechnical drilling campaign from inside the El Tigre heap leach mine that is being built.

Northern veins and stockwork zone highlighted intersections

New high-grade epithermal vein intersections of the Caleigh and Protectora veins and the newly discovered northern stockwork zone (identical to the El Tigre stockwork zone) are highlighted below:

• Drill hole ET-24-649: 2.1 metres grading 7,715.1 grams per tonne (g/t) silver equivalent or 102.87 g/t gold equivalent from 39.9 to 42.0 metres, consisting of 35.39 g/t gold and 5,061.1 g/t silver. This includes 0.53 metre grading 29,620.0 g/t silver equivalent or 394.93 g/t gold equivalent from 40.4 to 40.9 metres, consisting of 136.20 g/t gold and 19,405.0 g/t silver. The hole shows the second-highest assay result on the property and confirms the presence of high-grade on the Caleigh vein near-surface;
• Drill hole ET-24-643: 93 metres grading 70.1 g/t silver equivalent or 0.93 g/t gold equivalent from 16.9 to 109.9 metres, consisting of 0.38 g/t gold and 41.2 g/t silver. This includes 0.60 metres grading 2,292.2 g/t silver equivalent or 30.56 g/t gold equivalent from 44.2 to 44.8 metres, consisting of 7.40 g/t gold and 1,737.0 g/t silver. The hole confirms the presence of both high-grade mineralization along the Protectora vein and a large, near-surface stockwork zone, similar to the heap leach project being built to the south;
• Drill hole ET-24-638: 15.5 metres grading 101.9 g/t silver equivalent or 1.36 g/t gold equivalent from 20.7 to 37.8 metres, consisting of 0.62 g/t gold and 55.2 g/t silver. This includes 0.65 metre grading 1,457.0 g/t silver equivalent or 19.4 g/t gold equivalent from 22.5 to 23.15 metres, consisting of 10.40 g/t gold and 667 g/t silver. The hole confirms presence of stockwork zone inside the El Tigre formation approximately one kilometre (km) to the north of the heap leach mine that is being built to the south. In addition, this hole shows the presence of a high-grade hanging wall vein adjacent to the historical workings on the Protectora vein in this area.

Glenn Jessome, president and chief executive officer, stated: "Our focus remains on the construction of our heap leach mine at El Tigre, with first pour to be in December, 2027. I am pleased to confirm we are on schedule for pouring that first dore bar. We are also pleased to announce excellent drill results for the high-grade northern veins and the newly discovered northern stockwork zone enveloping those veins, similar to the El Tigre heap leach mine we are currently building to the south."

Mr. Jessome further stated: "The northern veins, specifically the epithermal Caleigh and Protectora veins, are the faulted extensions of the well-defined UG PEA southern veins, with similar mineralogy, structure and rock type. These veins are only 700 metres north of where we are currently building our heap leach mine. The northern veins are open along strike and downdip in all directions."

Mr. Jessome added: "Recent results also highlight the presence of outcropping stockwork zone, extending the current exploration corridor as we continue to add both underground and stockwork heap leach targets to the corporation's portfolio on this district-scale property."

Overview -- northern veins

The northern veins are the faulted extension of the underground PEA (preliminary economic assesssment) southern veins (Sooy, El Tigre and SK veins), exhibiting the same mineralogy, structure and host lithology, including the El Tigre formation the host of the stockwork zone, which the corporation is currently developing.

The northern veins consist of several historically mined veins including the Protectora, Fundadora and Aguila, and many newly discovered veins, including Benjamin, the Benjamin Shale and Caleigh (see news releases dated Sept. 10, 2020, Nov. 17, 2020, Jan. 21, 2021, and Feb. 2, 2021).

2026 exploration work -- overview

Drilling has thus far has been focused on both the Protectora vein, the largest and most developed of the northern vein set, and the Caleigh vein. Historically mined by the North Tigre Mining Company approximately 700 metres from existing resource, the Protectora vein is drilled one kilometre along strike, and from its position, geometry and geology, it can be considered the north extension of the Sooy vein.

Drilling results received are centred around the 50-metre-long working Escalera, a part of the North ET mine, with high-grade underground sampling along the Protectora vein. Drilling results are also focused on the Caleigh vein, immediately adjacent to the Protectora, unmined and near surface. Based on these results, further drilling will take place to infill this area of northern resource.

2025 exploration work -- overview

In preparation for the 2026 drilling season, the corporation had exploration crews locate, catalogue, map and sample historical adits in the northern area. Once sampling completed, nearly every working was lidar (light detection and ranging) scanned.

This mapping is centred around the old workings of the North El Tigre mine and associated adits. This work is aimed at establishing a geological context for these mineralized systems, and to assess how related these are to the well-established El Tigre, Sietz-Kelly and Sooy veins.

Historical Anaconda (1980s era), El Tigre Silver (2010 to 2012) and modern-day drill holes (2016 to present) were relogged with an increased geological understanding developed in the established southern veins, host of the El Tigre mine, reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tons.

Resampling was conducted were needed on areas proximal to vein mineralization, the shale unit that is host to the shale zone to south, and El Tigre formation, host to the stockwork mineralization seen in south. In total, over 400 samples from drill core were taken.

Seventy per cent of the northern vein prospect area has been mapped by corporation geologists.

Geotechnical drilling 2026

Geotechnical drilling for the final design of pit through WSP Mexico has concluded with final report received. Sampling was conducted on mineralized intervals where possible (drilling targeted pit walls), with intervals presented in table 2.

Drill results from inside the proposed pit continue to show both continuity and grade. Furthermore, El Tigre vein intersections show high-grade material near-surface and unmined, including 1.0 metre grading 1,137.5 g/t silver equivalent or 15.17 g/t gold equivalent from 20.5 to 21.5 metres, consisting of 15.10 g/t gold and 5 g/t silver.

Summary high-grade mineralized zones at El Tigre

While mineralized zones in the north area are predominantly vein-type with the exception of the Benjamin shale zone, there is significant potential for sulphide and shale-type mineralization. These south area prospective zones are enumerated below:

1. Veins: The high-grade epithermal veins dip steeply to the west and are typically 0.5 metre wide, and locally can be up to five metre in width. Several exist on the property, with many reaching strike length of three kilometre or more. Vein mineralization consists of quartz and varying proportions of zinc, iron, lead, copper and silver sulphides. These historically mined veins have, for example drill hole ET-21-264, returned assays up to 82,827.3 g/t silver equivalent over 0.5 metre proximal to historically mining stopes, showing high-grade vein mineralization continues at depth and along strike (see news release dated Nov. 9, 2021).
2. Sulphide zone: Hosted at the contact between a basement granite and younger volcanics, the currently defined sulphide zone is 750 metres along strike with 250 metres along dip and typically two to 20 metres thick. Mineralization consists of varying semi-massive proportions of zinc, iron, lead, copper and silver sulphides with, for example, drill hole 434 grading 10.5 meters at 1,642.4 g/t total silver equivalent, consisting of 914.0 g/t silver, 0.20 g/t gold, 1.68 per cent copper, 5.92 per cent lead and 12.42 per cent zinc (see news release dated Jan. 25, 2023).
3. Shale zone: Occurring at the intersection of veins and a property-wide carbonate/shale layer, this silver- and base-metal-rich mineralization extends 20 metres in either direction from the vein, with thicknesses reaching upward of 15 metres and several kilometres along strike. Grades and widths are significant, with, for example, drill hole 329 grading 9.1 metres at 809.7 g/t silver equivalent, consisting of 429.5 g/t silver, 0.22 g/t gold, 0.22 per cent copper, 4.82 per cent lead and 6.89 per cent zinc (see news release dated May 17, 2022).

About Silver Tiger Metals Inc.

Silver Tiger is constructing the El Tigre stockwork zone project, a silver and gold heap leach project located in Sonora, Mexico. The project is 100 per cent owned by Silver Tiger and covers over 37,000 hectares. The technical report, entitled "Stockwork Zone Pre-Feasibility Study and Underground Preliminary Economic Assessment of the El Tigre Silver-Gold Project, Sonora, Mexico," dated June 20, 2025, is available on SEDAR+ and under the corporation's profile, as well as on the Silver Tiger website.

Silver Tiger has entered into an engineering procurement and construction management contract (EPCM) with Kappes, Cassidy & Associates (KCA), and Kappes, Cassiday del Norte S de RL de CV (KCN), to assist in the construction of the mine and process plant at El Tigre. The company has also now hired its own experienced mine construction executive team to work with KCA and KCN.

Commissioning and first pour are targeted for December, 2027. The board of directors of the company has approved the construction decision for El Tigre.

VRIFY slide deck and 3-D presentation -- Silver Tiger's El Tigre project

VRIFY is a platform being used by companies to communicate with investors using 360-degree virtual tours of remote mining assets, 3-D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.

The VRIFY slide deck and 3-D presentation for Silver Tiger Metals can be viewed on the corporation's website.

Procedure, quality assurance and quality control (QA/QC), and data verification

The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw, with one-half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical testwork.

The sealed and tagged sample bags are transported to the Bureau Veritas facility in Hermosillo, Mexico. Bureau Veritas crushes the samples (code PRP70-250) and prepares 200-gram to 300-gram pulp samples with 90 per cent passing Tyler 200 mesh (code PUL85). The pulps are assayed for gold using a 30-gram charge by fire assay (code FA430) and overlimits greater than 10 grams per tonne are reassayed using a gravimetric finish (code FA530). Silver and multielement analysis is completed using total digestion (code MA200 total digestion ICP (inductively coupled plasma)). Overlimits greater than 100 grams per tonne silver are reassayed using a gravimetric finish (code FA530).

Quality assurance and quality control (QA/QC) procedures monitor the chain of custody of the samples, and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data. All results stated in this announcement have passed Silver Tiger's QA/QC protocols.

Qualified person

Charles Spath, PGeo, MSc, vice-president of technical services of the corporation, is the qualified person for Silver Tiger, as defined under National Instrument 43-101. Mr. Spath has reviewed and approved the scientific and technical information in this news release.

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