Mr. Glenn Jessome reports

SILVER TIGER ANNOUNCES CLOSING OF $15 MILLION BOUGHT DEAL FINANCING

Silver Tiger Metals Inc. has closed its previously announced bought deal offering of common shares of the company with a syndicate of underwriters. An aggregate of 45,455,000 shares at a price of 33 cents per share for gross proceeds to the company of approximately $15,000,150 were sold. The company intends to use the proceeds of the offering to finance exploration and development expenditures at the company's El Tigre project in Mexico, as well as for working capital and general corporate purposes.

The syndicate of underwriters was led by 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 underwriters were paid a cash commission of 6 per cent on the gross proceeds of the offering.

The offering was completed by way of short form prospectus in each of the provinces of Canada, except Quebec, and outside of Canada in accordance with applicable securities laws.

About Silver Tiger Metals Inc.

Silver Tiger is a Canadian company, its management of which 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 (mineral resource estimates), 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 discount rate of 5 per cent, 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 per ounce (oz) gold equivalent (AuEq) and $12 per oz silver equivalent (AgEq), with AISC (all-in sustaining cost) at $1,214 per oz AuEq and $14 per oz AgEq. The economics of the project have been evaluated based on a discounted price of $26 per oz silver and $2,150 per oz gold.

Silver Tiger began drilling from underground drill pads, focusing on the high-grade silver veins, sulphide and shale zones. A PEA (preliminary economic assessment) 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 corporation, 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.