Aftermath Silver Continues to Intersect High Grade Silver, Copper and Manganese at Berenguela, Peru

Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the "Company" or "Aftermath Silver") is pleased to provide the final assay results from its Phase 2 diamond drill program at the Berenguela silver-copper-manganese deposit located in the Department of Puno in southern Peru.

Results are included for 12 holes from the initially planned 60-hole (4,600m) program of diamond core drilling which the company increased to 82 holes (5,329m of core) due to positive geological results. Hole AFD139, on the most easterly section of drilling, returned a significant copper intercept indicating that the mineralisation remains open to the east.

Highlights of the current drilling include:

• AFD144 intersected 13.8m @ 558g/t Ag + 3.16% Cu + 15.06% Mn from 23.2m down hole, including 5.6m @1053g/t Ag + 2.85% Cu + 15.80% Mn from 31.4m down hole;

• AFD139 cut 68.9m @ 78g/t Ag + 1.19% Cu + 6.03% Mn from 6.4m down hole;

Ralph Rushton, President and CEO, commented "These results conclude our reporting of our Phase 2 diamond drill program and a revised mineral resource estimate including both Phase 1 and Phase 2 drilling is now underway. We are very pleased to report that one of our most easterly holes, AFD139, cut strong mineralisation and the resource appears to remain open to the east. This is an area we will tackle in the future as access needs prepared due to steep topography. Our technical team also clarified the geology of some faulted areas by targeted drilling."

Full results for 12 holes are in the table below and a table of collar coordinates and hole azimuths is appended at the end of this release. Drill collar plans and cross sections are available at this link: https://aftermathsilver.com/projects/berenguela/plans-and-sections/

Table 1. Assay results, holes AFD104, AFD120-AFD121, and AFD137 - AFD145

*Reported intersection widths are shorter than total widths drilled where voids due to historic underground mining activity were encountered during drilling. Voids were measured and discounted from the intersection width with no dilution of the reported grades. In AFD121 a void of 1.4m was encountered in an area of near-surface working resulting in an intersection width of 31.10m. In AFD121 a void of 1.6m was encountered in an area of near-surface workings resulting in an intersection width of 36.90m. In AFD141 a void of 1.5m was encountered in an area of near-surface workings resulting in an intersection width of 11.0m. In AFD142 a void of 1.0m encountered in an area of sub-surface workings resulting in an intersection width of 16.40m. In AFD143 a void of 1.4m was encountered in an area of sub-surface workings resulting in an intersection width of 30.60m. In AFD145 voids totalling 7.4m were encountered in areas of near- and sub-surface workings resulting in an intersection width of 29.05m. Berenguela mining: from 1913 until 1965 approximately 500,000 tons was mined from 17,700m of underground workings and open pit operations which equates to roughly 1.2% of the 2023 M&I resource inventory. Aftermath obtained complete plans of underground workings which were incorporated into resource modelling where practical and appropriate and underground mining depletion subtracted from the mineral resource. All open pits have been surveyed in detail as part of the general site layout that defines topography and surface mining depletion.
¹ The drilling was carried out at a high angle to the stratigraphically controlled mineralization and intersections can be assumed to equate approximately to true thickness.

Drilling was carried out at a high angle to mineralization controls and intersections are assumed to equate to true thickness. Drill sections are available on Aftermath's website (www.aftermathsilver.com) or by clicking here. The weighted average core recovery in the mineralized intersections was 97%. Some lower recoveries were returned close to surface (0 to 5m) in initial drilling runs, and around some underground workings. The geology of each hole is summarised at the end of this release.

Objectives of Drilling

Holes AFD120, AFD121 and AFD139 and AFD140, targeted the far eastern ridge area of the existing mineral resource. These were sited to extend and define the margin of mineralization whilst converting inferred resources to indicated and/or measured categories where appropriate. Holes AFD139 and AFD140 are the furthest east drilled by Aftermath and essentially the last holes drilled eastwards on the Berenguela drill grid. As noted above, significant mineralisation was encountered which remains open eastwards. Steep topography prevented further drilling without access preparation which is planned in due course.

AFD104, AFD137, AFD138, AFD141 and AFD142 targeted a syncline that forms the southern flank of the southeastern antiform. Shallow, thin mineralisation was expected. The holes were designed to extend and define the margin of mineralization whilst converting inferred resources to indicated and/or measured categories where appropriate.

Holes AFD143 to AFD145 targeted the core mineralisation of the central area close to old open pits: a structurally complex zone with faulting parallel to section separating Domain 1 to the west and Domain 2 to the east. The results of this and previous drilling confirmed that the mineralisation traversed the faulting, hence the faulting must be an older event than the intense MnO alteration and associated silver-copper mineralisation. Drilling was designed to convert inferred resources to indicated and/or measured categories where appropriate.

Geology

The host stratigraphy at Berenguela comprises folded thickly bedded, light grey limestones and dolomitized limestones. Several large bodies of black massive, patchy, and fracture-controlled manganese oxide replacement mineralization with associated silver, copper, and zinc enrichment, occur in the folded limestones. Mineralization largely follows stratigraphy and is typically conserved as eroded synform or antiform remnants, usually exposed at surface and with fold axes trending 105-120 degrees. Generally, the limestone is underlain by a transitional arenite unit overlying evaporites in footwall formations. In the area covered by this release, the eastern margin of mineralization, the arenites and evaporites were not generally encountered suggesting the limestone sequence is thickening eastward and downfaulted in blocks.

Historical mapping and resource modelling shows mineralization to extend for roughly 1,300m along strike. The recent drilling has extended the strike length to at least 1550m with a maximum width of 400m in the central part, 250m in the western part, and 50m in the faulted section between the western and central parts. This includes a previous 100m gap or discontinuity now closed by drilling. The drilling was carried out at a high angle to the stratigraphically controlled mineralization and intersections are approximately true thickness. The geology of each hole is summarized at the end of this release.

QA/QC

Sample preparation and assaying was carried out in Peru by ALS Peru S.A ("ALS"). ALS preparation facilities in Arequipa and assaying facilities in Lima both carry ISO/IEC 17205 accreditation. Logging and sampling were carried out by Aftermath geological staff at the Limon Verde camp in Santa Lucia. Samples were transported to Arequipa and delivered to ALS for preparation and subsequent assaying of pulps in Lima.

During the preparation stage, quartz-washing was performed after each sample to prevent carry-over contamination. Initial assaying was done using a four-acid digestion and ICP-AES multielement analysis for 31 elements. Over limit samples (Ag > 100 g/t, Mn>8,000 ppm, Cu/Zn >10,000ppm) were reanalysed using 4 acid-digestion and ore-grade ICP-AES analysis. Any Ag samples reporting >1,500 g/t Ag are further analysed using fire assay with gravimetric finish. Any Ag samples reporting >10,000 g/t are further analysed using concentrate assay methods.

A selection of pulps will be submitted to an umpire laboratory to perform check analyses and verify QA/QC implemented in the project. Every batch of 20 samples submitted for assay contained 1 certified reference material (CRM), 1 coarse blank, 1 pulp blank and 1 duplicate core sample, OR 2 CRMs, 1 coarse blank, 1 duplicate core sample. Aftermath commissioned OREAS to prepare 3 different CRMs made from samples of Berenguela mineralization, so they are compositionally matched to the mineralized core. In the assays performed for this news release, 65 CRMs and 33 coarse blanks were inserted and 4 elements checked (Ag/Cu/Mn/Zn) - a total of 392 checks in total.

The CRMs generally performed well, and 2 CRM fails were observed in total. Two fails were reported for low range Mn. No fails were reported for Ag or Cu. Mid-range Cu, Mn and Ag CRMs reported to specification limits. High grade Cu, Mn, and Ag CRMs reported to specification limits. All pulp blanks and coarse blanks reported to specification limits. 32 duplicate samples were submitted and >80% reported repeat assays with a difference <25% to original assay.

Qualified person

Michael Parker, a fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent qualified person, as defined by National Instrument 43-101. Mr. Parker has reviewed the technical content of this news release and consents to the information provided in the form and context in which it appears.

Berenguela Project: Background

• The Company has an option to acquire a 100% interest in Berenguela through a binding agreement with SSR Mining.
• Berenguela hosts a potentially open-pittable silver-copper-manganese resource close to Santa Lucia in Puno province, southern Peru.
• Silver, copper and manganese have crucial industrial applications in the clean energy and battery spaces. Copper and manganese have been designated critical metals by the US government and the European Union.
• The project is less than 6km from road, rail and power lines and 4 hours from Arequipa by sealed road.
• Aftermath published a resource estimate in March 2023 based on over 300 core and RC holes.
• Metallurgical test work is underway adding to historic work, with the goal of producing silver and copper metal and a commercial battery-grade or fertilizer-grade manganese product.

About Aftermath Silver Ltd.

Aftermath Silver is a leading Canadian junior exploration company focused on the development of critical metals projects. Aftermath is a preeminent silver development company with significant leverage to copper and high purity battery grade manganese. The Company's flagship asset is the Berenguela silver, copper and manganese deposit located in Southern Peru.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

Certain of the statements and information in this news release constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to interpretation of exploration programs and drill results, predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; differing results and recommendations in the Feasibility Study; and general economic, market or business conditions. In addition, forward‐looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the Company's filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Aftermath Silver's profile at www.sedar.com.

There is no certainty that any forward‐looking statement will come to pass, and investors should not place undue reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the forward‐looking statements in this release, except as required by law.

Cautionary Note to US Investors - Mineral Resources

This News Release has been prepared in accordance with the requirements of Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (''NI 43-101'') and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC"), and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies.

Table 2. Collar locations, depths, azimuth and dips.

Summary Geology

AFD104 was drilled in a valley in the core of a syncline forming the southern flank of the southeastern antiform. Mineralisation was only preserved to a depth of 1.90m, followed by highly weathered beige dolomite to 14.5m where a sharp contact to intercalated footwall arenites and evaporites occurs. These units persist to 25.00m EOH.

AFD120 intersected two zones of mineralisation. The upper zone of mineralisation was intersected form surface to 32.50m, intersecting limestone from surface with moderate to massive MnO replacement of altered limestone and some vein hosted and disseminated MnO. The lower zone of mineralisation was intersected from 86.60m to 101.05m characterised by disseminated MnO and weak to moderate MnO replacement of limestone.

AFD121 intersects mineralisation from surface to 38.50m, massive MnO replacement of limestone from surface and disseminated or fracture hosted MnO dominating downhole. End of hole (EoH) occurs in weakly altered limestone at 50.40m.

AFD137 intersects mineralisation from surface to 10.10m characterised by vein hosted MnO and disseminate MnO in altered limestone. Limestone grades into arenites and transitional arenites below mineralised intersection with historic workings occuring at the contact. EoH in transitional arenites at 21.50m.

AFD138 intersects mineralisation from surface to 15.30m, with vein hosted MnO, massive MnO replacement, and disseminated MnO, with visible Cu (malachite) in limestone. Limestone grades into transitional arenites below mineralised intersection until EoH at 19.20m.

AFD139 intersects mineralisation from 6.40m to 75.30m. Intercalating altered and unaltered limestone hosts vein hosted and moderate replacement of limestone by MnO, mostly within altered limestone beds. In unaltered limestone, MnO primarily occurs as fracture hosted. Some visible CuO occurs downhole of intersection.

AFD140 cut mineralisation from 46.50m to 49.30m, characterised by weak MnO replacement of altered limestone and minor CuO.

AFD141 cut mineralisation from 0.90m to 13.40m characterised by massive MnO replacement of limestone with some ferruginous alteration, and intervals of low replacement but increased vein hosted MnO and disseminated MnO with visible CuO in altered limestone. Below intersection MnO content decreases downhole into weakly altered limestones grading into transitional arenites until EoH at 23.10m.

AFD142 cut mineralisation from 4.00m to 21.40m characterised by moderate to massive replacement of altered limestone with some disseminated visible CuO.

AFD143 cut two zones of mineralisation. The upper mineralisation occurs from 3.65 to 8.10m, characterised by vein hosted MnO and patchy replacement in weakly altered limestone. The lower zone of mineralisation occurs from 20.50m to 52.50m, include a higher zone of mineralisation from 31.40m to 37.40m. The intersect is characterised by zones of moderate to massive MnO replacement of limestone with ferruginous alteration intercalated with zones of altered limestone and arenites with vein hosted and disseminated MnO, and visible CuO. The higher intercept occurs within one of these altered limestone and arenite zones, with vein hosted and patchy MnO and pyrite.

AFD144 cut mineralisation from 23.20m to 37.00m including a zone of higher mineralisation from 31.40m to 37.00m, characterised by limestone intercalated with minor arenites and siltstones, moderately to intensely altered with vein hosted MnO, disseminated MnO, patchy MnO replacement and dm scale intervals of moderate to massive MnO replacement of host limestone. Some visible CuO occurs throughout. The zone of higher mineralisation occurs within limestone hosting moderate to patchy MnO replacement.

AFD145 cut mineralisation from surface to 36.50m including a zone of higher mineralisation from 13.75m to 23.40m, characterised by patchy and massive MnO replacement of altered limestone with replacement decreasing strength downhole, dominated instead by disseminated MnO and minor vein hosted MnO from 24.50m. The intersect of higher mineralisation occurs within the stronger patchy and massive MnO replacement, with visible disseminated and vein hosted CuO. Alteration and MnO content continue to decrease downhole and transitions sharply to tectonic breccias of the footwall at 38.40m until EOH at 45.80m.