Aftermath Silver updates Berenguela & Challacollo project

Vancouver, British Columbia--(Newsfile Corp. - August 25, 2026) - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the "Company" or "Aftermath Silver") is pleased to provide an update to the ongoing work programs at its Berenguela Ag-Cu-Mn project in Puno province, southern Peru and the Challacollo Ag-Au project in Region 1 of northern Chile.

Ralph Rushton, President and CEO, commented, "With key exploration and geotechnical drilling underway we expect a busy next rew months at Aftermath. I am please to report that our Prefeasability Report for the Berenguela project is on schedule and on budget. At Berenguela, we are currently doing follow up drilling on the previous high-grade copper intersections in the eastern zone and expect to be drilling the prospective South-West Skarn Intrusive target shortly. We are also completing a 9-hole geotechnical drilling program designed to feed into the Prefeasability Study which is due Q1, 2027. At the Challacollo Silver Property in Chile we are drilling to test depth and lateral extensions to the main Lolon vein and to verify the potential of the Lucy vein to the west. We will be extending the drill program at Challacollo."

Berenguela Ag-Cu-Mn project

Prefeasibility Study

Since the Berenguela Pre-Feasibility Study (PFS) started in February 2026, the Company has completed a comprehensive gap analysis to define the geological, engineering, metallurgical, geotechnical and environmental data required to advance the project to a PFS level of definition.

Work completed during the period includes an infill drilling program and a further phase of metallurgical testwork, which has delivered additional confidence to the process flowsheet. Geotechnical and hydrogeological drilling is currently underway to support mine design and future permitting activities.

Trade-off studies have also been undertaken across key Project parameters, including plant throughput, plant locat