Aftermath Silver Berenguela Silver-Copper-Manganese Project: Contained Silver in Measured and Indicated Resources Increases by 21% to 122.5 Moz, with 22.0 Moz of Silver in Inferred Resources

On December 4, 2025, Aftermath Silver announced a new NI 43-101 compliant Mineral Resource Estimate (MRE) for its flagship Berenguela silver-copper-manganese project in Peru. The updated estimate shows a significant increase in the higher-confidence Measured and Indicated (M&I) category.

Key highlights of the new MRE: - Measured and Indicated (M&I) Resources: 51.55 million tonnes, containing 122.5 million ounces of silver (Moz Ag), 717.1 million pounds of copper (Mlb Cu), and 2.93 million tonnes of manganese (Mt Mn). - Inferred Resources: 14.33 million tonnes, containing 22.0 Moz Ag. - This represents a 28.3% increase in M&I tonnes and a 21% increase in contained M&I silver compared to the previous March 2023 resource estimate. - The MRE is based on data from 439 drill holes totaling 44,842 meters. - A full technical report is expected within 45 days.

The updated Mineral Resource Estimate is a material and positive development for Aftermath Silver. It represents the successful culmination of the Phase 1 and 2 drill programs conducted throughout 2025. The company's stated goal for this drilling was to convert Inferred resources to the M&I category and expand the overall deposit, a goal which has been clearly achieved.

Comparing the new MRE to the previous one (March 2023): - M&I Silver: Increased by 21% from 101.2 Moz to 122.5 Moz. - M&I Tonnes: Increased by 28.3% from 40.18 Mt to 51.55 Mt. - Inferred Silver: Decreased from 38.8 Moz to 22.0 Moz, as expected, with successful conversion of resources into the M&I category.

This resource upgrade significantly de-risks the Berenguela project. A larger, higher-confidence resource provides a more robust foundation for the upcoming Pre-Feasibility Study (PFS), which the company announced it was initiating in its November 24 news release. This MRE was the necessary and expected next step after the company secured 100% ownership of the project and released a series of consistently strong drill results over the past year. While the positive outcome was anticipated by the market, the confirmation and the scale of the increase solidify Berenguela's position as a large, polymetallic deposit and should be viewed favorably by investors.

Aftermath Silver Ltd. is a Canadian junior mining company focused on the development of precious and critical mineral projects in Latin America.

Its flagship asset is the Berenguela Silver-Copper-Manganese Project located in the Department of Puno, Peru. Berenguela is a large, carbonate-replacement-style deposit that is open-pittable. The company recently consolidated 100% ownership and is focused on advancing it towards a production decision, leveraging its exposure to silver, and the critical "energy transition" metals, copper and manganese. The company also holds the development-stage Challacollo and exploration-stage Cachinal silver-gold projects in Chile.