Mr. Ralph Rushton reports

AFTERMATH SILVER ENGAGES GLOBAL FRONTIER ADVISORS AND FORMS ADVISORY BOARD TO ADVANCE ITS U.S. CRITICAL METALS STRATEGY

Aftermath Silver Ltd. has signed a strategic advisory engagement with Global Frontier Advisors LP (GFA), a Washington-based firm, the partners of which include former senior U.S. military officers, diplomats and international business executives.

In connection with the engagement, Aftermath has formed an advisory board and named three GFA founding partners as inaugural members: Lieutenant-General David Bellon (USMC, retired), Lieutenant-General Michael S. Groen (USMC, retired) and Ambassador James (Jimmy) Story (retired). A formal advisory services agreement took effect March 27, 2026, with the company's newly formed U.S. subsidiary, U.S. Critical Minerals Corp. (USCMC).

The advisory board has been established to support the strategic positioning of Aftermath's 100-per-cent-owned Berenguela silver-copper-manganese project in Peru and the downstream development work being undertaken through USCMC. Berenguela is a potential future source of silver, copper and manganese for United States-aligned supply chains. The company is exploring partnerships, offtake arrangements and financing structures to advance Berenguela in line with the U.S. administration's objectives of securing Western Hemisphere critical metals feedstock for U.S.-based refining capacity. The company believes this positions Aftermath Silver as a strategically significant solution for the U.S. battery and defence material supply chains.

Michael Williams, executive chairman of Aftermath, commented: "At Berenguela, Aftermath is developing a potentially large Western Hemisphere silver-copper-manganese feedstock source and has assembled the right people with the right technical capabilities to execute development of the project. Working with GFA, we are confident that the Berenguela story will continue to reach the right decision-makers in Washington and that the project is recognized as a crucial strategic international asset."

Commenting on behalf of GFA, Lt.-Gen. Bellon, a member of the new advisory board, said: "The strategic case for this project is clear, but the economic one is equally compelling. A U.S.-domiciled critical metals facility means skilled American jobs and a domestic processing anchor for industries that today must import much of the critical minerals they need. Its impact runs well beyond the plant gate, strengthening the entire value chain that depends on this material -- from battery and cathode manufacturing to grid-scale storage. This opportunity is a great example of how durable, allied supply chains can drive economic resilience in America."

His colleague and fellow advisory board member Amb. Story added: "Today marks a significant step forward for Aftermath Silver. The GFA adbisory Board connects Aftermath's technical and commercial work on Berenguela to the U.S. government and provides the engagement that a project of this strategic importance requires. It connects senior GFA advisers who have deep national security and critical minerals expertise with the Aftermath team, and positions Aftermath to advance Berenguela, helping to establish a domestic, allied supply chain for a critical battery and defence materials, and building long-term value for Aftermath's shareholders."

With these advisers joining its advisory board, USCMC gains senior-level access and credibility across the U.S. national security, defence, energy and development-finance communities. Their collective standing is intended to strengthen the company's ability to engage the relevant departments and agencies, and to identify and pursue federal and state funding and procurement pathways for which the project may be eligible, potentially including programs under the Defense Production Act, and those administered by the U.S. Department of Energy, the Export-Import Bank of the United States and the U.S. International Development Finance Corporation, among others.

Advisory board

All three inaugural members are GFA founding partners, bringing complementary experience across national security, defence industrial policy and Western Hemisphere diplomacy relevant to the project.

Lt.-Gen. Bellon, GFA's managing partner, served more than 35 years in the U.S. Marine Corps, culminating as commander of Marine Forces South and commander of the Marine Corps Reserve. He brings extensive congressional relationships and operational experience across Latin America and the Middle East, and holds a JD with bar admissions in four states and multiple federal courts.

Lt.-Gen. Groen concluded a 36-year Marine Corps career as the senate-confirmed director of the Department of Defense's Joint Artificial Intelligence Center. A former senior leader at the National Security Agency and senior adviser to the chairman of the Joint Chiefs of Staff, he brings experience at the intersection of national security policy, defence industrial planning and technology strategy.

Amb. Story a career foreign service officer with 27 years of service across Latin America and Africa, served as U.S. ambassador to the Bolivarian Republic of Venezuela (2018 to 2023), as consul general in Rio de Janeiro, as U.S. charge d'affaires to Angola and Sao Tome and Principe, and in senior roles addressing international narcotics and law enforcement in the Western Hemisphere.

About Aftermath Silver Ltd.

Aftermath Silver is a Canadian junior exploration company focused on silver and critical metals, with a pipeline of projects in stable jurisdictions selected for their growth and development potential:

• Berenguela silver-copper-manganese project (Peru): 100 per cent owned, located in the Department of Puno; a current National Instrument 43-101 mineral resource estimate was published Dec. 4, 2025.
• Challacollo silver-gold project (Chile): 100 per cent owned; an NI 43-101 mineral resource was released Dec. 15, 2020, and is available on SEDAR+ and the company's website;
• Cachinal silver-gold project (Chile): 100 per cent owned, located approximately 2.5 hours south of Antofagasta.

About Global Frontier Advisors LP

GFA is a Washington-based strategic advisory firm, the partners of which include former senior U.S. military officers, diplomats and international business executives. GFA advises corporations, governments and investors operating in geopolitically complex environments, with a focus on critical minerals, defence technology, energy transition and national security-aligned investment.

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