Aftermath Silver intercepts high-grade silver in Berenguela, Peru

Vancouver – Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the “Company” or “Money Consequences‘) is pleased to provide additional assay results from the Berenguela Ag-Cu-Mn Project diamond drilling program located in the Department of Puno in the south Peru.

The Company has previously published analyzes for the first 20 holes of the program. The first results of Aftermath’s pairing of historical RC holes are included in this NR.

Highlights include: 18.9 m at 1,162 g/t Ag and 1.12% Cu in hole AFD-034 from 39.7 m downhole; a high-grade copper interception in hole AFD-029 that returned 20 m at 268 g/t Ag and 2.95% Cu from 73.1 m downhole. AFD-029 reported 97.60 m of mineralization from surface grading 188 g/t Ag and 1.70% Cu.

Ralph Rushton, the President of Aftermath commented: “Drilling and sampling of this year’s core is now complete and we have submitted 63 holes to the laboratory for analysis. We continue to see selected intervals with extremely high silver grades that correlate with high copper and manganese grades. The next batches of holes are going to be particularly important for the forecast resource estimate, as they have mostly matched historic RC holes some of which have had poor sample recovery and/or apparently encountered extensive voids. In a number of holes we have now recovered full core intersections where the historical RC program returned no samples. For example, hole BER005 drilled in 2004 returned a total of 11m of voids between 0 and 80m, but our drilling returned an average of 98% core recovery on a similar paired intersection with voids totaling only 1, 60m. Although still very early, the preliminary grade and intersection comparisons on this subset of paired holes are very encouraging as we have reached parity or in some cases bettered the historical results of 2004/5. The new holes will be incorporated into the database we compile for our resource estimate replacing their historical twin RC holes.

Of the 10 holes reported here, 4 intercepted Ag-Cu mineralization from surface. The majority intersect Ag-Cu mineralization within 10 m of surface.

To date, results from current diamond drilling are well in line with historical RC results, both in overall metal grade and thickness of mineralization. A preliminary comparison of grades from this subset of paired drilling shows that core drilling from 2022 has generally returned grades equal to or better than historical RC drilling. Intervals of mineralization were generally more discrete in the diamond drill program, but generally compared well to historical RC.

Aftermath drilled large diameter PQ core to maximize core recovery, achieving recoveries on the order of 90% in these paired holes when voids for mining disturbances were ignored. Diamond drilling generally reported fewer voids/loss of samples than historical RC. For example, in BER-005, six voids totaling a hole length of 11 m were reduced to two voids totaling a hole length of 1.60 m in AFD-029. In BER-008, two voids totaling a hole length of 31m were reduced to two voids totaling a hole length of 2.75m in AFD-028, a result similar to a 2004 re-drilling in hole BER- 011.

Borehole in Berenguela

The first phase of Aftermath’s drilling program at Berenguela was completed on May 17, 2022 with 63 diamond drill holes for a total of 6,168 m of drilling. Core cutting and sampling was completed on May 30 and 5,630 m were cut and 5,485 m sampled. 147 batches of samples, 4,700 drill samples in total plus 1,176 control samples, were shipped to the ALS laboratory in Arequipa. The Company expects to receive all results by mid-July.

Geology

Mineralization at Berenguela is hosted in thick folded light gray limestones and dolomitized limestones. Several large bodies of massive, uneven, fracture-controlled black manganese oxide replacement mineralization with associated silver, copper, and zinc enrichment are emplaced in the limestones. Mineralization largely follows stratigraphy and is generally preserved as eroded synform remains, generally exposed at surface and trending 105-120 degrees. Historical mapping and resource modeling show that the mineralization extends approximately 1300m along strike (including a 100m discontinuity) with a width of 200-400m.

About Aftermath Silver Ltd.

Silver Consequences Ltd is a leading Canadian silver-focused junior exploration company focused on creating shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of development. The Company’s projects have been selected based on their potential for growth and development.

Berenguela Silver-Copper Project

The Company has the option to acquire a 100% interest through a binding agreement with SSR Mining. The project is located in the Department of Punoin the center-south Peru. An NI 43-101 Technical Report on the property was filed in February 2021 (available on SEDAR and on the Company’s webpage). The Company is currently drilling at Berenguela and plans to advance the project through a pre-feasibility study.

Cachinal Silver-Gold Project

The Company holds a 100% interest in the Cachinal Ag-Au project, located 2.5 hours south of Antofagasta. On September 16, 2020 the company has released a CIM Compliant Mineral Resource and accompanying NI 43-101 Technical Report.

Contact:

Ralph Rushton

Tel: 604-484-7855

Caution Regarding Forward-Looking Information

Certain of the statements and information contained in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statement or information that expresses or involves discussions regarding the interpretation of exploration programs and drilling results, predictions, expectations, beliefs, plans, projections, objectives, assumptions, or events or performance future (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 indicating that certain actions, events or results “could”, “could”, “could”, “could” or “will” be taken, occur or be carried out, or the negative form of any of these terms and similar expressions) are not 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 these forward-looking statements. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those contained in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, changes in commodity prices; changes in the expected performance of mineral production; unexpected increases in capital costs; operating and exploration results; the continued availability of capital and financing 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; risk of change ; risk of inflation of the cost of capital; that the data is incomplete or inaccurate. Readers are encouraged to consult the company’s filings with Canadian securities regulators for information on these and other risk factors, which can be accessed through Aftermath Silver’s profile at www.sedar.com.

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