Silver Tiger Announces Closing of $15 Million Bought Deal Financing

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

HALIFAX, NS, April 14, 2025 /CNW/ - Silver Tiger Metals Inc. (TSXV: SLVR) ("Silver Tiger" or the "Company") is pleased to announce that it has closed its previously announced bought deal offering (the "Offering") of common shares of the Company (the "Shares") with a syndicate of underwriters. An aggregate of 45,455,000 Shares at a price of C$0.33 per Share for gross proceeds to the Company of approximately C$15,000,150 were sold. The Company intends to use the proceeds of the Offering to fund 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 (together, the "Co-Lead Underwriters"), and BMO Capital Markets, SCP Resource Finance LP, Ventum Financial Corp., and Canaccord Genuity Corp (together with the Co-Lead Underwriters, the "Underwriters"). The Underwriters were paid a cash commission of 6% 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 Québec, and outside of Canada in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws, and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act, and applicable securities laws.

About Silver Tiger and the El Tigre Historic Mine District

Silver Tiger Metals Inc. is a Canadian company whose management has more than 27 years' experience discovering, financing, and building large hydrothermal gold and silver mines in Mexico. Silver Tiger's 100% 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 meters at the El Tigre Project, with 119,000 meters 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 of US$222 million at a 5% discount rate, an After-Tax IRR of 40.0%, 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 US$318 million, with initial capital costs of $86.8 million (including $9.3 million in contingency). Operating cash costs are projected at $973/oz AuEq and $12/oz AgEq, with AISC 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 began 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.

VRIFY Slide Deck and 3D Presentation – Silver Tiger's El Tigre Project

VRIFY is a platform being used by companies to communicate with investors using 360° virtual tours of remote mining assets, 3D models and interactive presentations. VRIFY can be accessed by website and with the VRIFY iOS and Android apps.

Access the Silver Tiger Metals Inc. Corporate Profile on VRIFY at: https://vrify.com

The VRIFY Slide Deck and 3D Presentation for Silver Tiger Metals Inc. can be viewed at: https://vrify.com/explore/decks/492 and on the Company's website at: www.silvertigermetals.com.

Qualified Person

David R. Duncan, P. Geo., V.P. 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.

CAUTIONARY STATEMENT:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, the ability to convert inferred resources to indicated resources, the ability to complete future drilling programs and infill sampling, the ability to extend resource blocks, the similarity of mineralization at El Tigre to Delores, Santa Elena and Chispas, exploration results, and future plans and objectives of Silver Tiger, are forward-looking statements that involve various risks and uncertainties. Forward looking statements are frequently characterized by words such as "may", "is expected to", "anticipates", "estimates", "intends", "plans", "projection", "could", "vision", "goals", "objective" and "outlook" and other similar words. Although Silver Tiger believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Silver Tiger's expectations include risks and uncertainties related to exploration, development, operations, commodity prices and global financial volatility, risk and uncertainties of operating in a foreign jurisdiction as well as additional risks described from time to time in the filings made by Silver Tiger with securities regulators.

SOURCE Silver Tiger Metals Inc.

For further information, please contact: Glenn Jessome, President and CEO, 902 492 0298, [email protected]