Aftermath Silver Announces C$7.0-million Non-Brokered Private Placement
Not for dissemination in the United States or for distribution to U.S. wire services.
FOR IMMEDIATE RELEASE April 12, 2023
(AAG2023 – NR #06)
Aftermath Silver Announces C$7.0-million Non-Brokered Private Placement
Vancouver, BC, April 12, 2023 – Aftermath Silver Ltd. (the “ Company” or “ Aftermath”) (TSX-V: AAG)
(OTCQX: AAGFF) is pleased to announce a non-brokered private placement of up to 28,000,000 Units at
a price of $0. 25 per Unit to raise approximately C$ 7.0 million. Each Unit sold consists 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 at a price of $0. 35 per
Common Share. Mr. Eric Sprott has agreed to participate in the private placement.
The Company intends to use the net proceeds for metallurgical and engineering studies on the Berenguela
Silver-Copper-Manganese project in southern Peru (“Berenguela” or the “Project’) , project payments
related to the purchase of Berenguela and for general working capital purposes. In March 2023, the
Company published an expanded Mineral Resource estimate for Berenguela (see company NR dated March
2, 2023). The company has initiated advanced metallurgical testwork programs on bulk drill core samples
from key mineralized domains targeted in its drill program. This testwork , to be completed by Kappes
Cassiday and Associates of Reno, Nevada, will encompass flowsheets for silver, copper and zinc recovery
and ultimately identify the potential manganese products including focusing on battery grade manganese
sulphate (MnSO4). It is anticipated that the results of this testwork will be incorporated into a preliminary
economic analysis for Berenguela to be completed during 2024.
The Company may pay a finder’s fee in connection with the Private Placement. The private placement is
subject to the approval of the TSX Venture Exchange and other applicable securities regulatory bodies,
and the securities will be subject to a four month and one day hold period from the closing date, under
Canadian 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 r elease 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 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 of the statements and information in this news release constitute “forward-looking information”
within the meaning of applicable Canadian provincial securities laws. Any statements or information that
express or involve discussions with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance, including without limitation, exploration plans
at the Company’s mineral projects (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
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 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 such forward‐looking statements,
including without limitation, failure of the Company to obtain TSX Venture Exchange approval for the
proposed Warrant amendments. Although the Company believes the expectations expressed in such
forward‐looking statements are based on reasonable assumptions, such statements are not guarantees
of future performance and actual results or developments may differ materially from those in the
forward‐looking statements. Factors that could cause actual results to differ materially from those in
forward‐looking statements include, but are not limited to, failure of the Company to obtain TSX Venture
Exchange approval for the proposed Warrant amendments. In addition, forward‐looking statements are
subject to various risks, including but not limited to operational risk; political risk; currency risk; capital
cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the Company’s filings
with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible
through Aftermath Silver’s profile at www.sedar.com.
There is no certainty that any forward‐looking statement will come to pass and investors should not
place undue reliance upon forward‐looking statements. The Company does not undertake to provide
updates to any of the forward‐looking statements in this release, except as required by law.