Mr. Glenn Jessome reports

SILVER TIGER ANNOUNCES FILING OF FINAL SHORT FORM PROSPECTUS

Further to Silver Tiger Metals Inc.'s news release dated March 24, 2025, it has filed a final short form prospectus dated April 4, 2025, with the securities commissions in each of the provinces of Canada, except Quebec, in connection with its bought deal public offering of common shares of the company at 33 cents per common share for aggregate gross proceeds of $15,000,150. The offering is being conducted through a syndicate of underwriters including Stifel Canada and Desjardins Capital Markets, as co-lead underwriters and joint bookrunners, and BMO Capital Markets, SCP Resource Finance LP, Ventum Financial Corp. and Canaccord Genuity Corp. The company has granted the underwriters an option to purchase an additional 6,818,250 common shares on the same terms and exercisable at any time up to 30 days following the closing of the offering, for market stabilization purposes and to cover overallotments, if any. If the overallotment option is exercised in full, additional gross proceeds of $2,250,022.50 will be raised pursuant to the offering and the aggregate gross proceeds the offering will be $17,250,172.50.

The offering is being conducted in each of the provinces of Canada, except Quebec, and outside of Canada in accordance with applicable securities laws.

Closing of the offering is expected to occur on or about April 14, 2025. The TSX Venture Exchange has conditionally approved the listing of the common shares to be issued pursuant to the offering (including any exercise of the overallotment option), subject to customary conditions.

Final short form prospectus is accessible through SEDAR+

Access to the final prospectus and any amendment to the documents is provided in accordance with securities legislation relating to procedures for providing access to a prospectus. The final prospectus is accessible on SEDAR+. An electronic or paper copy of the final prospectus and any amendment may be obtained, without charge, from Stifel Canada by e-mail at prospectuscanada@stifel.com by providing the contact with an e-mail address or address, as applicable. The final prospectus contains important detailed information about the company and the offering. Prospective investors should read the final prospectus and the other documents the company has filed on SEDAR+ before making an investment decision.

About Silver Tiger Metals Inc. and the El Tigre historic mine district

Silver Tiger Metals is a Canadian company whose management has more than 27 years of experience discovering, financing and building large hydrothermal gold and silver mines in Mexico. Silver Tiger's 100-per-cent-owned, 28,414-hectare Historic El Tigre mining district is located in Sonora, Mexico. Principled environmental, social and governance practices are core priorities at Silver Tiger.

Silver Tiger commenced work on its El Tigre project in 2017. El Tigre intends to build an open pit and underground mine. Silver Tiger has drilled over 150,000 metres at the El Tigre project, with 119,000 metres completed since 2020. Silver Tiger has completed several MREs, a maiden MRE in 2017 and MRE updates in 2023 and 2024. The PEA for the El Tigre open pit was released in November, 2023.

The October, 2024, PFS for the El Tigre open pit delivered robust economics. The PFS projects an after-tax NPV (net present value) of $222-million (U.S.) at a 5-per-cent discount rate, an after-tax IRR (internal rate of return) of 40.0 per cent and a payback period of 2.0 years. This open pit operation is expected to have a 10-year mine life. The El Tigre project delivers a life of mine undiscounted after-tax cash flow of $318-million (U.S.), with initial capital costs of $86.8-million (including $9.3-million in contingency). Operating cash costs are projected at $973/ounce AuEq (gold equivalent) and $12/oz AgEq (silver equivalent), with AISC (all-in sustaining costs) at $1,214/oz AuEq and $14/oz AgEq. The economics of the project have been evaluated based on a discounted $26/oz silver price and gold price of $2,150/oz.

Silver Tiger is now drilling from underground drill pads, focusing on the high-grade silver veins, sulphide and shale zones. A PEA for the permitted underground mineral resource is expected to be released in the first half of 2025.

Qualified person

David R. Duncan, PGeo, vice-president of exploration of the company, is the qualified person for Silver Tiger as defined under National Instrument 43-101. Mr. Duncan has reviewed and approved the scientific and technical information in this news release.

We seek Safe Harbor.