Silver Tiger Announces Closing of C$40,004,000 Bought Deal Financing

On November 26, 2025, Silver Tiger Metals Inc. announced the closing of its previously announced "bought deal" public offering. The company issued 54,800,000 common shares at a price of C$0.73 per share for gross proceeds of C$40,004,000. The financing was led by BMO Capital Markets and Stifel Nicolaus Canada Inc. The net proceeds will be used for exploration and development at the El Tigre Project in Mexico, as well as for working capital and general corporate purposes. The release also reiterated the positive economics from the project's Pre-Feasibility Study (PFS).

The closing of this C$40 million financing is a material and positive event that significantly de-risks the path to production for Silver Tiger's El Tigre project.

Reviewing the historical news flow shows a company methodically executing its strategy: - Early 2025: The company was advancing exploration, releasing positive drill results in February and closing a C$15 million financing at C$0.33 in April to fund its programs. - November 7, 2025: A pivotal milestone was reached when the company announced it had received all required permits from SEMARNAT to construct the El Tigre mine. This was a major de-risking event. - Post-Permitting Financings: Immediately following the permitting news, the company moved to secure funding. It had already closed a C$28.77 million financing at C$0.72 in October. This new C$40 million financing at C$0.73 brings the total capital raised in under two months to approximately C$68.8 million.

The PFS for the El Tigre open pit outlined an initial capital cost (CAPEX) of US$86.8 million. The C$68.8 million raised is equivalent to approximately US$50 million, securing a substantial majority of the required construction capital via equity. This demonstrates strong institutional support and puts the company in a robust position to secure a debt facility for the remaining amount.

While the successive financings have led to significant shareholder dilution (approximately 38% in 2025), they have been necessary to advance the project. Critically, these financings have been executed at progressively higher share prices (C$0.33, C$0.72, C$0.73), reflecting the market's positive reception to the company's de-risking achievements. The absence of warrants in these deals is another sign of strength, resulting in a cleaner capital structure.

In conclusion, this financing provides the financial firepower for Silver Tiger to move towards a construction decision, order long-lead items, and finalize a complete project financing package. It transforms the company's financial position and solidifies its transition from an explorer to a near-term producer.

Silver Tiger Metals Inc. is a Canadian precious metals development company focused on its 100%-owned El Tigre Project in Sonora, Mexico. The project covers 28,414 hectares in a historic mining district. The company is advancing a two-pronged strategy: 1. Open Pit Development: A Pre-Feasibility Study (PFS) released in October 2024 outlined a robust, low-CAPEX open-pit mine with a 10-year life, an after-tax NPV(5%) of US$222 million, and an IRR of 40%. The company has received all major permits required for construction. 2. Underground Exploration: The project also hosts extensive high-grade underground veins, sulphides, and shale zones. The company is actively exploring these zones with the goal of releasing a PEA to demonstrate the potential for a second, high-grade underground mining operation.