Aftermath Silver Appoints Ralph Rushton as CEO and President
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FOR IMMEDIATE RELEASE September 10, 2019
(AAG2019 – NR #7)
Aftermath Silver Appoints Ralph Rushton as CEO and President
Vancouver, British Columbia, September 10, 2019 – Aftermath Silver Ltd. (TSXV: AAG.H
– NEX) (the “Company” or “Aftermath Silver”) is pleased to announce the appointment of Mr.
Ralph Rushton, M.Sc. as CEO, President and Director. Michael Williams will remain as a Director
and Chairman of the Company.
Mr. Rushton holds a B.Sc. in geology from Portsmouth University in the UK, a Master's degree in
Economic Geology from the University of Alberta, and a Certificate in Business Communications
from Simon Fraser University. He has significant exploration and mining experience in a number
of geological settings and terrains working for Anglo American plc and Rio Tinto.
For the last 16 years he has worked in business development and marketing for a number of junior
resource companies. He currently serves as a director for three TSX Venture Exchange companies,
and is an advisor to two other exploration companies. He has helped to raise over C$400 million
through equity financings to fund exploration and development programs in Latin America,
Scandinavia and Eastern Europe.
“I look forward to working with Ralph. His experience as a geologist, combined with his financial
and corporate expertise, will benefit Aftermath greatly. He has previously helped to finance and
market a successful silver producer and junior company and understands the sector well.” said
Aftermath Silver’s Chairman, Michael Williams.
Reactivation and Financing Update
Earlier this year, the Company made application to reactivate and to have its shares listed as a Tier
2 Mining Issuer on the TSX Venture Exchange. In August, t he Company made a follow -up
submission to the Exchange, including a revised NI 43-101 Report on the Cachinal Property, title
opinion and up -dated use of proceeds . The Company has also made applications to the TSX
Venture Exchange in connection with the two recently announced Private Placements (see the
Company’s news releases dated July 24, 2019 and September 3, 2019). The reactivation and the
two private placements remain subject to acceptance by the Exchange, and the Company is using
its best efforts to obtain such acceptances as quickly as practicable.
Challacollo Silver-Gold Project
Challacollo is a low-sulphidation epithermal silver-gold deposit which hosts an historic indicated
mineral resource of 30 million ounces of silver (4.7 million tonnes at 200 g/t silver) and an inferred
mineral resource of 6.9 million ounce s of silver (1.6 million tonnes of 134 g/t) with associated
gold credits.
Previous drilling concentrated on the principal vein (Lolón Vein) to a depth of about 200 m below
surface. Aftermath will focus its initial exploration efforts on parallel vein systems that have some
preliminary drilling but were not included in the historic mineral resource. The oxidation level
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bottoms at approximately 200m below surface. The down-dip extent of the mineralized structures
remains unknown. Gold and base metal grades generally increase with depth.
The Challacollo project is located in Chile’s Tarapaca Region (Region I). The project is
approximately 30 km east of the Pan American Highway. Power transmission lines are located 15-
30 km from the property. The project includes water rights. For further details please see the
Company’s news release dated August 1, 2018.
Cachinal Silver-Gold Project
Cachinal is a low -sulphidation epithermal deposit which hosts a current CIM compliant mineral
resource of 18.4 million silver ounces in the Indicated category (5.66 million tonnes of 101 g/t)
and 3 million silver ounces in the Inferred category (0.82 million tonnes of 115 g/t), with associated
gold credits.
Shallow drilling has defined the current mineral resources principally to a depth o f 150m below
surface and provides sufficient evidence to interpret the presence of high -grade shoots within the
vein system extending below the base of a potential open pit. Following these high -grade shoots
to depth with drilling will be the initial focus of the Company’s efforts to expand the silver -gold
mineralisation. The oxidation level bottoms at about 120-150m below surface; however, the down-
dip extent of the mineralized structures remains unknown.
The Cachinal Silver -Gold Project is located in Chil e’s Antofagasta Region (Region II). The
project is located about 40 km east of the Pan American Highway, in a nearly flat plain at an
elevation of around 2,700 m above sea level, 16 km north of Austral Gold’s Guanaco gold-silver
mine. For further details please see the Company’s news release dated June 25, 2018.
About Aftermath Silver Ltd
Aftermath Silver Ltd is a Canadian junior exploration company engaged in acquiring, exploring,
and developing quality mineral properties in stable jurisdictions with an emphasis on silver in
Chile. Aftermath continues to seek new opportunities to take advantage of the relatively low silver
price.
Qualified Person
Peter Voulgaris, MAIG, MAusIMM, is a non -independent qualified person as defined by NI 43 -
101. Mr. Voulgaris has reviewed the technical content of this news release, and consents to the
information provided in the form and context in which it appears.
ON BEHALF OF THE BOARD OF DIRECTORS
“Michael Williams”
Michael Williams, Director/Vice President/Executive Chairman
604-484-7855
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Notes on Mineral Resources
1. Challacollo Historic Mineral Resource : An independent “Qualified Person”, as
defined in National Instrument 43-101 (“NI 43-101”), has not done sufficient work on
behalf of Aftermath to classify the historical estimate as a current indicated or inferred
mineral resource, and Aftermath is not treating the historical estimate as a current
mineral resource. For full details please see the March 2015 43-101 Technical Report
“NI 43-101 Technical Report for the Challacollo Silver Project, Region 1, Chile” QPs
Mroczek, M., Collins, and M., Butler, S. of Mining Plus Canada Consulting Ltd. and
Tapia, J.C., of Sedgeman S.A. Prepared for Mandalay Resources, a vailable on the
Mandalay Resources SEDAR profile.
• Challacollo mineral resources were classified according to the CIM Definition
Standards for Mineral Resources and Mineral Reserves (December 2005).
• Mineral Resources are estimated at a cut-off grade of 60 g/t Ag.
• Mineral Resources are estimated using a silver price of US$24/oz, a gold price of
US$1,400 per ounce, metallurgical recoveries of 92% for silver and 75% for gold, and
operating costs of US$50 per tonne.
• A density of 2.45 g/cm3 is used as a base density with adjustments according to the
variation of the estimated barium, lead and zinc grades.
• No capping of Ag grades has been applied due to low grade variability. Au grades
have been capped at 3 g/t for two sample composites 4.57 g/t Au and 4.11 g/t Au
respectively.
2. Cachinal current Mineral Resource Estimate: for full details please see the April
2018 43-101 Technical Report “Independent Technical Report for the Cachinal Silver-
Gold Project, Region II, Chile.” QPs Cole, G and Couture, J. of SRK Consulting
(Canada) Inc. prepared for Aftermath Silver filed on the Aftermath Silver SEDAR
profile.
• Cachinal mineral resources were classified according to the CIM Definition Standards
for Mineral Resources and Mineral Reserves (December 2005).
• The Silver equivalent (AgEq) grades are calculated using gold to silver ratio of 50:1,
using metal price assumptions of US$12.50 per ounce of silver, US$650 per ounce of
gold and metallurgical recoveries of eighty-five percent for silver and gold. Zinc does
not contribute to revenues.
• Open Pit shell constrained Mineral Resources are reported at a cut-off of 40 g/t AgEq
to a vertical depth of 150 m below surface, constrained within a Lerchs Grosman
optimised pit shell.
• Underground constrained Mineral Resources are reported at a cut-off of 150 g/t
AgEq.
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Forward Looking Statements
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this
news release.
Certain statements within this news release, other than statements of historical fact relating
to Aftermath, are to be considered forward -looking sta tements with respect to the
Company’s intentions for the Cachinal and Challacollo Projects in Chile. Forward-looking
statements include statements that are predictive in nature, are reliant on future events or
conditions, or include words such as “expects” , “goal”, “potential”, “anticipates”,
“plans”, “believes”, “considers”, “significant”, “intends”, “targets”, “estimates”,
“seeks”, attempts”, “assumes”, and other similar expressions.
The forward -looking statements are based on a number of assumptions whic h, while
considered reasonable by Aftermath, are, by their nature, subject to inherent risks and
uncertainties and are not guarantees of future performance. Factors that could cause
actual results to differmaterially from those in forward -looking statement s include: the
interpretation of previous and current results, the accuracy of exploration results, the
accuracy of Mineral Resource Estimates, the anticipated results of future exploration, the
forgoing ability to finance these acquisitions further explor ation and development, delays
in the completion of exploration, the future prices of silver and gold, and other metals, and
general economic, market and/or business conditions. There can be no assurances that
such statements and assumptions will prove accu rate and, therefore, readers of this news
release are advised to rely on their own evaluation of the information contained within. In
addition to the assumptions herein, these assumptions include the assumptions described in the
Company’s most recent Management’s Discussion and Analysis , as filed with the TSX Venture
Exchange and available on SEDAR under Aftermath’s profile at www.sedar.com.
Although Aftermath has attempted to identify important risks, uncertainties and other factors that
could cause actual performance, achievements, actions, events, results or conditions to differ
materially from those expressed in or implied by the forward-looking statements, there may be other
risks, uncertainties and other factors that cause future performance to differ from what is
anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements
contained herein are as of the date hereof and Aftermath does not assume any obligation to update
any forward-looking statements after the date on which such statements were made, except as
required by applicable law.