Mr. Eric Sprott to Increase Equity Position in Aftermath Silver

Vancouver, British Columbia--(Newsfile Corp. - September 17, 2024) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the "Company" or "Aftermath") is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement") of up to 14,285,714 (the "Units") to be sold at a price of $0.35 per Unit for total gross proceeds of up to $5,000,000.

Each Unit will be comprised of one common share in the capital of the Company (each, a "Common Share") and one-half of one transferable Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable by the holder thereof to acquire one additional Common Share (a "Warrant Share") for a period of 24 months from the date of issuance at a price of $0.45 per Warrant Share.

The Company intends to use the net proceeds to for geological, metallurgical and engineering studies at the Company's Berenguela Silver-Copper-Manganese project in southern Peru ("Berenguela"), and for general working capital purposes.

2176423 Ontario Ltd., a corporation beneficially owned and controlled by Mr. Eric Sprott, intends to subscribe for the entire amount of the Private Placement, being 14,285,714 Units for an aggregate purchase price of $5,000,000. The participation by 2176423 Ontario Ltd., and the participation of other insiders of the Company, if any, in the Private Placement, will be considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Private Placement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities will exceed 25% of the Company's market capitalization.

All securities issued with respect to the Private Placement will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws. Closing of the Private Placement is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange.

None of the securities sold under the Private Placement have been and will not be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.