Mr. Glenn Jessome reports

SILVER TIGER ANNOUNCES C$40 MILLION BOUGHT DEAL FINANCING

Silver Tiger Metals Inc. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Stifel Nicolaus Canada as joint bookrunners, under which the underwriters have agreed to buy, on bought deal basis, 54.8 million common shares, at a price of 73 cents per common share, for gross proceeds of approximately $40-million. The company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15 per cent of the offering to cover overallotments, if any. The offering is expected to close on or about Nov. 26, 2025, and is subject to Silver Tiger receiving all necessary regulatory approvals.

The net proceeds of the offering will be used for the exploration and development of the company's El Tigre project and for general corporate purposes.

The common shares will be offered by way of a short form prospectus in all of the provinces of Canada, other than Quebec, and may also be offered by way of private placement in the United States pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act of 1933, as amended.

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 MREs (mineral resource estimates), a maiden MRE in 2017, and MRE updates in 2023 and 2024. The PEA (preliminary economic assessment) for the El Tigre open pit was released in November, 2023.

The October, 2024, PFS (prefeasibility study) 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 (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 AISC (all-in sustaining cost) at $1,214 (U.S.) oz AuEq and $14 (U.S.) per oz AgEq. The economics of the project have been evaluated based on a discounted $26-(U.S.)-per-ounce silver price 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.