Aftermath Silver Announces C$2.0-million Non-Brokered Private Placement
FOR IMMEDIATE RELEASE October 12, 2022
(AAG2022 – NR #15)
Aftermath Silver Announces C$2.0-million Non-Brokered Private Placement
Vancouver, BC, October 12, 2022 – Aftermath Silver Ltd. (the “Company” or “Aftermath”) (TSX-V: AAG)
(OTCQX: AAGFF) is pleased to announce a non-brokered private placement (the “Private Placement”) of
up to 11,764,705 units of the Company (the “Units”) at a price of C$0.17 per Unit to raise approximately
C$2 million.
Each Unit will be comprised of one common share in the capital of the Company (each a “Common Share”)
and one -half of one non -transferable common share purchase warrant (each whole warrant, a
“Warrant”). Each Warrant is exercisable by the holder to acquire one Common Share for a per iod of 24
months from closing of the Private Placement at a price of C$0.27 per share.
The Company intends to use the net proceeds for metallurgical and other technical studies on the
Berenguela Silver-Copper project in Peru, and the Challacollo Silver-Gold project in Chile, and for general
working capital purposes. Aftermath recently comple ted a 6,200m drill campaign at Berenguela (see
Aftermath’s news releases dated May 4 and 19, June 6 and 13, and July 5, 2022.). The results of this drilling
are being incorporated into a new mineral resource estimate. The Company plans to incorporate the
results of the metallurgical testwork at Berenguela into a preliminary economic analysis scheduled for the
second half of 2023.
Closing of the Private Placement is subject to receipt of all necessary regulatory approvals including the
TSX Venture Exchange (the “ TSXV”). Finder’s fees equal to 7% of the Units issued under the Private
Placement may be paid to eligible parties, payable in either cash or Common Shares. All of the 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.
About Aftermath Silver Ltd.
Aftermath Silver Ltd . is a leading Canadian junior exploration company focused on silver, and aims to
deliver 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 advancement. The
Company's projects have been selected based on growth and development potential.
• Berenguela Silver-Copper project. The Company has an option to acquire a 100% interest through
a binding agreement with SSR Mining. The project is located in the Department of Puno, in southern
central Peru. A NI 43-101 Technical Report on the property was filed in February 2021 (available on
SEDAR and the Company’s web page). The Company is currently drilling at Berenguela and planning
to advance the project through a pre-feasibility study.
• Challacollo Silver-Gold project. The Company recently completed the acquisition of a 100% interest
in the Challacollo silver -gold project from Mandalay Resources; see Company news release dated
August 11, 2022. A NI 43-101 mineral resource was released on December 15, 2020 (available on
SEDAR and the Company’s web page) . The Company is currently permitting road access in
anticipation of an upcoming drill program.
• Cachinal Silver-Gold project. The Company own s a 100% interest in the Cachinal Ag -Au project,
located 2.5 hours south of Antofagasta. On June 10, 2022, Aftermath announced it had reached an
agreement to sell Cachinal to Honey Badger Silver Inc. On September 16, 2020 , the Company
released a CIM-compliant mineral resource estimate and accompanying NI 43-101 Technical Report
(available on SEDAR and on the Company's web page).
ON BEHALF OF THE BOARD OF DIRECTORS
“Ralph Rushton”
Ralph Rushton
CEO and Director
604-484-7855
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain information set forth in this news release contains forward -looking statements or information
("forward-looking statements"), including details about the proposed Private Placement and the Company’s
proposed use of proceeds from the Private Placement. By their nature, forward-looking statements are subject
to numerous risks and uncertainties, some of which are beyond the Company’s control, including risks
associated with the inability to complete the Private Placement, timing of receipt of regulatory approval, change
in market conditions, and predictions, expectations, beliefs, plans, projections, objectives, and assumptions of
future events or performance, including without limitation, exploration plans at the Company’s mineral
projects. Although the Company believes that the expectation s in its forward -looking statements (often, but
not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”,
“projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectiv es”,
“budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and
similar expressions) are reasonable, its forward -looking statements have been based on factors and
assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are
based upon currently available information. Such statements are subject to known and unknown risks,
uncertainties and other factors that could influence actual results or events and cause actual results or events
to differ materially from those stated, anticipated or implied in the forward -looking statements. Accordingly,
readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be
provided as to future results, levels of activity or achievements. Furthermore, the forward-looking statements
contained in this document are made as of the date of this document and, except as required by applicable law,
the Company does not undertake any obligation to publicly update or to revise any of the included forward -
looking statements, whether as a result of new information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by this cautionary statement.