Silver Tiger Metals Inc.

Silver Tiger Metals Inc. is a junior silver development company headquartered in Halifax, Canada, operating primarily in Mexico. The company's portfolio consists of 1 development project. Key assets include El Tigre. The business model is that of a junior exploration company transitioning to development. Key operational characteristics are defined by a pre-feasibility study, which outlines a conventional open-pit mining approach utilizing contract mining services. The planned processing circuit involves a three-stage crushing system designed to produce a fine-crushed product for heap leach pads. Recovery will be achieved through a conventional Merrill Crowe precipitation plant with an on-site refinery to produce doré bars. The operational plan is phased, starting with a lower throughput rate before expanding to a higher capacity in later years, with key equipment being upsized from the start to facilitate this expansion. The company relies heavily on specialized external consultants and contractors for a range of functions, including executive, geological, and administrative duties, in addition to exploration activities. This model allows for operational flexibility while managing overheads during the pre-production phase. The enterprise operates within a highly competitive and cyclical industry, requiring specialized knowledge in geology, drilling, and program implementation to secure resources and personnel.

The corporate strategy is centered on advancing the company's sole mineral project from the exploration and development stage toward construction and production. Key near-term priorities, guided by a recent pre-feasibility study, include initiating detailed engineering and completing further metallurgical test work. This additional testing is designed to de-risk the project by better understanding recovery variability across different geological domains identified within the planned open-pit design. A further strategic initiative involves conducting a preliminary economic assessment to evaluate the potential for underground mining methods, which could unlock value from deeper sections of the deposit. The company also plans a targeted exploration program of approximately 5,000 meters of drilling aimed at upgrading the confidence level of existing inferred mineral resources located within the current mine plan to the indicated or measured categories. Capital allocation is focused on funding these critical de-risking and development activities, as evidenced by recent successful capital raises. The overarching goal is to systematically advance the project through key engineering and permitting milestones to support a future construction decision.

Governance is structured around a 4-member Board of Directors that provides oversight through 4 specialized committees: an Audit Committee, a Compensation Committee, a Corporate Governance and Nominating Committee, and a Safety, Environmental and Social Sustainability Committee. The executive team is led by a President and Chief Executive Officer who is a founding shareholder with a background as a securities lawyer and extensive experience in capital markets. The technical team is headed by a Vice President of Exploration, a professional geologist with over 35 years of global experience in developing deposits, and a Chief Financial Officer who is a Chartered Professional Accountant and CFA Charterholder with significant financial executive experience in public companies, including within the mining sector. This leadership group combines legal, financial, and technical expertise to guide the company through its development phase. As of the date of the report, directors and executive officers as a group beneficially own approximately 3.65% of the outstanding shares, indicating alignment with shareholder interests. The board's conflict of interest policy requires directors to disclose material interests and abstain from voting on related matters in accordance with corporate law.

The organization's approach to environmental, social, and governance matters is formalized through direct board-level oversight. A dedicated Safety, Environmental and Social Sustainability (SESS) Committee was established by the Board of Directors to guide these initiatives. The SESS Committee is tasked with overseeing the development of a comprehensive ESG strategy designed to ensure operations are conducted in a principled, transparent, and accountable manner for all stakeholders. Proactive measures have been undertaken to support this framework, including commissioning a detailed environmental baseline study and a separate socioeconomic baseline study. These studies assess the economic, cultural, social, and demographic aspects of local communities and evaluate potential impacts on the local ecosystem. Following these studies, a formal Environmental Impact Statement was submitted to regulatory authorities for evaluation in July 2023. This structured approach demonstrates a commitment to integrating environmental and social considerations into the project development and permitting process, aiming to maintain a social license to operate and create long-term value.

The corporate structure consists of a parent entity, Silver Tiger Metals Inc., which holds its primary asset through a series of wholly-owned subsidiaries. The chain of ownership flows from the parent company to El Tigre Silver Corp., which in turn holds 0874346 B.C. Ltd. This entity holds an interest in Pacemaker Silver Mining S.A. de C.V., which subsequently holds an interest in Compañía Minera Talaman S.A. de C.V. These latter two entities are the direct holders of the mineral concessions. The current corporate configuration was largely established through the acquisition of El Tigre Silver Corporation in November 2015, which consolidated the ownership of the primary asset. The parent company's name was changed from Oceanus Resources Corporation to its current name on April 24, 2020, to better reflect its business focus. There are no material joint ventures or partnerships reported. Insider alignment is demonstrated by the collective beneficial ownership of approximately 3.65% of outstanding shares by the company's directors and executive officers.