Aftermath Silver appoints Keating as COO

Executive Summary

• Aftermath Silver Ltd. appointed Danny Keating as Chief Operating Officer and restructured leadership, moving Michael Parker to Technical Director to oversee Peruvian and Chilean projects.
• The company highlighted material progress at its Berenguela project, citing completed infill drilling, an updated NI 43-101 resource, and upcoming engineering studies to advance project derisking.
• A new 10% fixed stock option plan was adopted, authorizing up to 33,785,972 options for eligible participants, while the CEO outlined near-term drilling plans targeting high-grade zones, a skarn target, and the Challacollo project.

Key Details

• Management Changes: Danny Keating appointed COO (30 years experience in mine development/processing; former CEO of Giyani Metals; ex-Alufer Mining, Dynamic Mining, Lindian Resources, Anglo American, Gold Fields, Collins Stewart, ABN AMRO). Michael Parker (current COO/director) transitions to Technical Director to lead the Peruvian team and oversee Chilean exploration/development.
• Drilling & Resource Updates: Berenguela entering key technical evaluation and derisking phase. Recent infill drilling and updated resource provide foundation for engineering studies. Referenced high-grade intercept: 156 metres from surface grading 290 g/t Ag, 1.12% Cu, and 7.3% Mn.
• Future Drilling Plans: Drill testing eastern targets at Berenguela. Drill testing a prospective skarn target located 4 km from Berenguela. Concurrent drilling planned at the Challacollo silver project in Northern Chile.
• Stock Option Plan: TSX Venture Exchange approved a 10% fixed stock option plan authorizing up to 33,785,972 options for eligible participants. This is the company's only security-based compensation plan.
• Project Status & NI 43-101 Filings:
• Berenguela (100% interest, Puno, Peru): NI 43-101 mineral resource estimate published Dec 4, 2025; technical report published Jan 16, 2026.
• Challacollo (100% interest, acquired from Mandalay Resources Aug 2022): NI 43-101 resource released Dec 15, 2020.
• Cachinal (100% interest, Antofagasta region): CIM-compliant resource and NI 43-101 technical report released Sept 16, 2020.
• Qualified Person: Michael Parker (Fellow of AusIMM, non-independent director) reviewed and approved all technical content per National Instrument 43-101.

Notable Quotes

• Ralph Rushton, President & CEO: "Aftermath is entering a transformational phase, supported by a strong balance sheet and a high-confidence silver-copper-manganese resource base. The results of our infill drilling and updated resource have provided the technical foundation to advance our engineering studies at Berenguela, an important milestone for the company and our shareholders. We expect a steady stream of news as we drill test the eastern targets and follow-up on our recent high-grade silver-copper-manganese intercepts which included 156 metres from surface grading 290 g/t Ag, 1.12 per cent Cu and 7.3 per cent manganese (see Aftermath news release dated Feb. 27, 2025). We will also be drill testing a very prospective skarn target located four km from Berenguela. Concurrently, we will be drilling at our Challacollo silver project in Northern Chile."
• Ralph Rushton, President & CEO: "Danny's appointment as chief operating officer enhances our ability to effectively execute our planned engineering studies. His experience in project evaluation, mine development and EV battery-related metals positions Aftermath extremely well as we advance the engineering work, further derisk Berenguela and demonstrate the project economics."