THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (FSE: FLM1) (the "Company" or "Aftermath Silver") is pleased to announce that it has entered into an agreement with Research Capital Corporation as the sole bookrunner and co-lead agent (and together with Red Cloud Securities Inc. as co-lead agent, the “Agents”), in connection with a brokered, best-efforts listed issuer financing exemption private placement offering (the “Offering”) of up to 16,666,667 common shares of the Company (the “Common Shares”) at a price of $0.90 per Common Share for aggregate gross proceeds to the Company of up to $15,000,000.

Mr. Eric Sprott, through 2176423 Ontario Ltd., has indicated his intention to participate in the Offering for up to $10,000,000.

The Company will grant the Agents an option (the “Agents’ Option”) to increase the size by up to an additional 15% of the number of Common Shares sold in the Offering, by giving written notice of the exercise of the Agents’ Option, or a part thereof, to the Company at any time up to two (2) business days prior to closing of the Offering. Assuming the exercise of the Agents’ Option in full, the Company would issue an aggregate of 19,166,667 Common Shares for aggregate gross proceeds of $17,250,000.

The net proceeds from the Offering will be used to fund further exploration and development at the Company’s Berenguela Silver-Copper-Manganese project in southern Peru (the “Berenguela Project”), completion of a pre-feasibility study for the Berenguela Project, further exploration at the Company’s other mineral projects and for working capital and general corporate purposes, all as further described in the Offering Document (as defined below).

The Common Shares will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by CSA Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (collectively, the “Listed Issuer Financing Exemption”), in all provinces of Canada, except Quebec, and other qualifying jurisdictions, including the United States. The Common Shares offered under the Listed Issuer Financing Exemption will be immediately “free-trading” upon closing of the Offering under applicable Canadian securities laws.

There is an offering document (the "Offering Document") related to this Offering that can be accessed under the Company's profile at www.sedarplus.ca and at the Company's website at https://aftermathsilver.com/. Prospective investors should read this Offering Document before making an investment decision.

The closing of the Offering is expected to occur on or about December 23, 2025 (the “Closing”), or on such date as the Agents and Company may agree upon. Closing is subject to the Company receiving all necessary regulatory approvals, including the conditional approval of the TSX Venture Exchange.

The Agents will receive a cash commission of 6.0% of the aggregate gross proceeds of the Offering.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

About Aftermath Silver Ltd.

Aftermath Silver Ltd. is a leading Canadian junior exploration company focused on silver and critical metals which aims to deliver shareholder value through the discovery, acquisition and development of quality silver and critical metal 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-Manganese project. The Company has acquired the rights to a 100% interest in Berenguela through a binding agreement with SSR Mining and EMX Royalties. The project is located in the Department of Puno, in southern central Peru. A current NI 43-101 mineral resource estimate was published on December 4, 2025. A NI43-101Technical Report on the property will be filed shortly.
• Challacollo Silver-Gold project. The Company completed the acquisition of a 100% interest in the Challacollo silver-gold project from Mandalay Resources; see Company news release dated August 11, 2022. A NI 43-101 mineral resource was released on December 15, 2020 (available on SEDAR+ and the Company's web page).
• Cachinal Silver-Gold project. The Company owns a 100% interest in the Cachinal Ag-Au project, located 2.5 hours south of Antofagasta.
  

ON BEHALF OF THE BOARD OF DIRECTORS,
"Ralph Rushton"
Ralph Rushton
CEO and Director
604-484-7855

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. These forward‐looking statements or information relate to, among other things: receipt of all approvals related to the Offering; the closing of the Offering; and the intended use of proceeds from the Offering.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the conditions to closing of the Offering may not be satisfied, management’s broad discretion regarding the use of proceeds of the Offering, the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.