Aftermath Silver Launches Berenguela Pre-Feasibility Study
FOR IMMEDIATE RELEASE February 12, 2026
(AAG2026 – NR #05)
Aftermath Silver Launches Berenguela Pre-Feasibility Study
Vancouver, BC, February 12, 2026 – Aftermath Silver Ltd. (TSX-V: AAG) (OTCQB: AAGFF) is pleased
to announce the commencement of a Pre -Feasibility Study (“PFS”) for its Berenguela silver -
copper-manganese project in southern Peru (“Berenguela” or the “Project”), marking a key
milestone in the Company’s strategy to advance the Project toward a production decision.
The decision to advance Berenguela to a PFS follows the completion of a C$20 million equity
financing and an 82-hole infill drilling program completed in 2025 that intercepted mineralization
in 95% of the holes. The updated Mineral Resource Estimate (See Aftermath news release dated
December 4, 2025) materially improved confidence in the geological model and confirmed robust
silver and copper mineralization across key zones, underpinning the Project’s progression to the
next stage of development. The PFS will build on the improved geological confidence delivered by
the infill drilling program and represent s the next major milestone on the Company’s
development pathway.
Ralph Rushton, President and CEO of Aftermath Silver, commented: “Aftermath is entering a
transformational phase, supported by a strong balance sheet and a high -confidence resource
base. The results of our infill drilling and updated resource have provided the technical foundation
to advance Berenguela to a Pre-Feasibility Study, an important milestone for the Company. After
a detailed review process carried out by our engineering team, we will be announcing the formal
appointment of the succe ssful engineering consultancies in the coming week. At the same time,
we will be drilling key exploration targets at Berenguela and at our Challacollo silver project in
Chile, to maintain strong exploration momentum across the portfolio."
About Berenguela
Berenguela currently hosts Measured and Indicated Resources of 122.5 million ounces of silver
and 717.1 million pounds of copper, together with a significant manganese resource detailed in
the table below. The assumptions used in the MRE can be found in Aftermath's news release
dated December 4, 2025.
Table 1. Berenguela Ag-Cu-Mn deposit Mineral Resource.
Resource
Classification
Tonnage
Mt
Grade Contained Metal
Ag Mn Cu Zn Ag Mn Cu Zn
g/t % % % Moz Mt Mlb Mlb
Measured 8.49 101 8.97 0.89 0.32 27.7 0.76 166.9 60.0
Indicated 43.06 68.5 5.04 0.58 0.33 94.9 2.17 550.2 312.5
Measured and
Indicated 51.55 73.9 5.69 0.63 0.33 122.5 2.93 717.1 372.4
Inferred 14.33 47.6 3.28 0.37 0.25 22.0 0.47 118.4 80.0
Qualified Person
Michael Parker, a Fellow of the AusIMM and a non-independent director of Aftermath, is a non-
independent qualified person, as defined by NI 43 -101. Mr. Parker has reviewed and approved
the technical content of this news release and the form and context in which it appears.
About Aftermath Silver Ltd.
Aftermath Silver Ltd. is a leading Canadian junior exploration company focused on silver and
critical metals which aims to deliver shareholder value through the discovery, acquisition and
development of quality silver and critical metal 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-Manganese project. The Company has acquired the rights to a
100% interest in Berenguela through a binding agreement with SSR Mining and EMX
Royalties. The project is located in the Department of Puno, in southern central Peru. A
current NI 43-101 mineral resource estimate was published on December 4, 2025. A NI43-
101 Technical Report on the property was filed January 16, 2026 and is available on Sedar.
• Challacollo Silver -Gold project. The Company 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).
• Cachinal Silver-Gold project. The Company owns a 100% interest in the Cachinal Ag -Au
project, located 2.5 hours south of Antofagasta.
ON BEHALF OF THE BOARD OF DIRECTORS,
"Ralph Rushton"
Ralph Rushton
CEO and Director
604-484-7855
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