Mr. Glenn Jessome reports

SILVER TIGER ANNOUNCES CLOSING OF C$28,773,000 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 39,962,500 shares at a price of 72 cents per share for gross proceeds to the company of approximately $28,773,000 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 Nicolaus Canada Inc. as sole bookrunner and Desjardins Capital Markets as co-lead underwriter, and BMO Capital Markets and Ventum Financial Corp. The underwriters were paid a cash commission of 6 per cent on the gross proceeds of the offering, except in respect of proceeds received from certain orders arranged by the company, of which up to $3-million was subject to a reduced commission rate of 3.0 per cent and up to $2-million was subject to a reduced commission rate of 5.0 per cent.

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, the 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. 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 mineral resource estimates (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, prefeasibility study (PFS) for the El Tigre open pit delivered robust economics. The PFS projects an after-tax net present value (NPV) of $222-million (U.S.) at a discount rate of 5 per cent, an after-tax internal rate of return (IRR) 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 (U.S.) (including $9.3-million (U.S.) in contingency). Operating cash costs are projected at $973 (U.S.) per ounce (oz) gold equivalent (AuEq) and $12 (U.S.) per oz silver equivalent (AgEq), with an all-in sustaining cost (AISC) at $1,214 (U.S.) per oz AuEq and $14 (U.S.) per oz AgEq. The economics of the project have been evaluated based on a discounted silver price of $26 per oz and gold price of $2,150 (U.S.) per oz.

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.