Aftermath Silver Ltd.

Aftermath Silver Ltd. is a junior silver exploration company headquartered in Vancouver, Canada, operating primarily in South America. The company's portfolio consists of 3 exploration projects, in addition to several early-stage exploration prospects. Key assets include Berenguela and Challacollo. The company operates as an exploration-stage entity focused on the acquisition and advancement of mineral properties. Its business model is centered on de-risking projects through systematic technical evaluation and exploration. The operational approach involves comprehensive reviews of historical data, including drill databases, geochemical samples, and geophysical interpretations, to inform exploration planning. A significant aspect of its activities includes detailed metallurgical test work designed to refine processing flowsheets and confirm the amenability of mineralization to established recovery technologies. This work encompasses various processes such as ore-sorting, pressure filtration, leaching, solvent extraction, and crystallization. By undertaking these technical programs, the organization aims to provide the basis for future economic studies and demonstrate the potential viability of its projects before committing to large-scale development, thereby managing exploration risk through phased, data-driven evaluation.

Strategic priorities are centered on advancing the company's existing mineral properties through targeted exploration while concurrently evaluating new prospects and opportunities for acquisition. A primary objective is to progress assets through the development pipeline, with stated goals of completing preliminary economic analyses to demonstrate potential viability. Capital allocation is focused on funding exploration programs, including drilling designed to expand known mineralized zones and test new targets, as well as fulfilling obligations related to property acquisitions. The entity's financial strategy relies on raising capital through equity sales to support these exploration and administrative expenses. Exploration planning is systematic, utilizing tools such as remote sensing studies and geophysical surveys to identify and prioritize drill targets, augmenting planned resource definition work. This approach aims to build value by systematically advancing projects toward key development milestones.

Executive leadership includes a Chief Executive Officer, a Chief Operating Officer who also serves as a director, and an Executive Chairman, guiding the company's operational and strategic direction. The board of directors provides oversight and follows recommended corporate governance guidelines to ensure transparency and accountability. An audit committee, composed of board members, meets with management on a quarterly basis to review financial statements, discuss operating and internal control matters, and oversee financial reporting integrity. The company's Chief Operating Officer is a designated Qualified Person under NI 43-101, responsible for reviewing and validating the scientific and technical information disclosed by the organization. This structure ensures that key technical and financial decisions receive appropriate expert review and board-level oversight. The company also discloses transactions with related parties, including key management personnel, as part of its governance framework.

The company's corporate structure has been actively managed through acquisition and divestiture activities. On October 17, 2023, a previously announced definitive agreement to sell its interest in the entity Minera Cachinal to Honey Badger Silver Inc. was terminated. During the fiscal year ended May 31, 2023, the company completed the acquisition of Minera Challacollo, which was structured and accounted for as an asset acquisition rather than a business combination. The organization is also pursuing another significant transaction, with the acquisition of the Berenguela project described as being in progress. These corporate actions demonstrate an ongoing strategy of portfolio optimization. The company's capital structure is primarily composed of equity raised through private placements, with financings completed in April 2024 to fund its operational and acquisition-related activities.