Vancouver - Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the 'Company' or 'Aftermath Silver') is pleased to provide additional assay results from diamond drilling at the Berenguela Ag-Cu-Mn project located in the Department of Puno, in southern central Peru.

The Company has an option to acquire a 100% interest in the project from SSR Mining. Aftermath has been drilling at Berenguela since December, 2021 and is planning to advance the project through a pre-feasibility study.

A total of 6,168.15m in 63 diamond core holes has been drilled to date which completes the phase 1 diamond drilling program. The Company released assays for the first 6 holes of the current drill program on May 4, 2022.

Highlights include: 8m at 804 g/t Ag and 0.45% Cu in hole AFD-020 from 56.5m downhole, a high-grade copper intercept in hole AFD-010 which returned 5.15m @ 5.03% Cu from 58.90m downhole.

Zone of Historic Drilling

All holes reported to date have been drilled in zones with prior drilling as shown on the accompanying sections 1200E, 1500E, 1550E, and 1700E. The verification and metallurgical drilling is designed to 1) infill prior drilling patterns for incorporation into a new mineral resource estimate, and 2) recover sufficient sample for metallurgical test work from representative areas of the known mineralisation. In both cross sections in this release, all historic drilling was Reverse Circulation. The results of the new diamond drilling reported here conform well to historic results, both in the overall tenor of the metals and the thickness of mineralisation. No RC holes were twinned by diamond drilling in holes reported in this NR so direct comparisons cannot be made.

Drilling at Berenguela

Aftermath's drill program at Berenguela has progressed well and the first phase of diamond drilling has now terminated. To date (May 17, 2022), the team completed 63 diamond core holes for a total of 6,168.15m of drilling. Core recoveries continued to be excellent, averaging approximately 94-95%. Twenty-five holes have been completed at HQ diameter for resource infill and possible expansion, and 38 holes have been completed at PQ diameter principally for metallurgical sampling.

Cutting and sampling of core continues and approximately 4,403m has been cut and 3,844m sampled to date. 104 batches of samples, 3,328 drill samples in total plus 832 check samples, have been shipped to ALS's lab in Arequipa. The Company anticipates receiving regular batches of assay results in the coming months.

About Aftermath Silver Ltd.

Aftermath Silver Ltd is a leading Canadian junior exploration company focused on silver, and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of advancement. The Company's projects have been selected based on growth and development potential.

Berenguela Silver-Copper project

The Company has an option to acquire a 100% interest through a binding agreement with SSR Mining. The project is located in the Department of Puno, in southern central Peru. A NI 43-101 Technical Report on the property was filed in February 2021 (available on SEDAR and the Company's web page). The Company is currently drilling at Berenguela and planning to advance the project through a pre-feasibility study.

Cachinal Silver-Gold project

The Company owns a 100% interest in the Cachinal Ag-Au project, located 2.5 hours south of Antofagasta., On September 16, 2020 the Company released a CIM compliant Mineral Resource and accompanying NI 43-101 Technical Report.

Contact:

Ralph Rushton

Tel: 604-484-7855

Cautionary Note Regarding Forward-Looking Information

Certain of the statements and information in this news release constitute 'forward-looking information' within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to interpretation of exploration programs and drill results, predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as 'expects', 'is expected', 'anticipates', 'believes', 'plans', 'projects', 'estimates', 'assumes', 'intends', 'strategies', 'targets', 'goals', 'forecasts', 'objectives', 'budgets', 'schedules', 'potential' or variations thereof or stating that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing and general economic, market or business conditions. In addition, forward looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the Company's filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Aftermath Silver's profile at www.sedar.com.

There is no certainty that any forward looking statement will come to pass and investors should not place undue reliance upon forward looking statements. The Company does not undertake to provide updates to any of the forward looking statements in this release, except as required by law.

Cautionary Note to US Investors - Mineral Resources

This News Release has been prepared in accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission, and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies.

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