Silver Tiger awards EPCM contract to KCA, KCN

Executive Summary

• Silver Tiger Metals has entered into an Engineering, Procurement, and Construction Management (EPCM) contract with Kappes, Cassidy & Associates (KCA) and Kappes, Cassiday del Norte S de RL de CV (KCN) for the El Tigre stockwork zone project in Sonora, Mexico.
• The company has approved the construction decision for El Tigre and hired its own mine construction executive team; commissioning and first pour are targeted for December 2027.
• Significant engineering progress has been made, including 90% completion of basic mine engineering, completion of heap leach/waste dump engineering, and commencement of land clearing.

Key Details

• EPCM Contract: Signed with KCA and KCN to assist in the construction of the mine and process plant at El Tigre.
• Construction Timeline: Commissioning and first pour targeted for December 2027.
• Engineering Status:
  • Basic engineering for the mine is 90% complete (prepared by KCA).
  • Engineering for the heap leach and waste dump is complete (prepared by WSP).
  • Engineering for improvements to the 46-kilometre road from Colonia Morelos to El Tigre is complete; the construction contract is currently in the bid process.
• Site Preparation: Land clearing for the mine construction area has commenced, including flora and fauna rescue.
• Infrastructure: Personnel camp for the mine and construction offices have been designed and are currently in the bid process.
• Drilling Update:
  • Continuing metallurgical and geotechnical drilling in the stockwork zone is nearing completion (expected to wrap up within 30 days).
  • Upon completion, the company will transition to exploration drilling targeting high-potential vein systems north of the main El Tigre area (near historic North Tigre mine).
  • This aligns with the El Tigre North mine design in the Preliminary Economic Assessment (PEA) dated Jan. 20, 2026.
• Financial Position: The company holds over $86-million (U.S.) (approx. $120-million) in cash.
• Financing: Nearing completion of a debt financing package with term sheets advanced to provide flexible, non-dilutive capital for combined surface and underground development.
• PEA/PFS Context: Recent technical reports include a Prefeasibility Study (PFS) and Underground PEA dated June 20, 2025, highlighting significant exploration upside and robust economics.

Notable Quotes

• Glenn Jessome, President and CEO: "Our team has poured tremendous effort into general engineering and site preparation over recent months, positioning us perfectly for the execution phase of construction. Signing the EPCM agreements with industry leaders KCA and KCN now accelerates construction and puts us firmly on track for commissioning and first pour in Q4 2027, a major derisked milestone that unlocks significant shareholder value in this surging silver-gold environment."
• Glenn Jessome, President and CEO: "Looking ahead, our primary focus remains delivering the heap leach mine on schedule, while we steadily advance the high-grade underground PEA toward a future construction decision. At the same time, our exploration team is energized and ready to resume aggressive drilling in the next 30 days, targeting those exciting high-grade silver and gold veins north of El Tigre that continue to demonstrate the district's exceptional expansion potential."