Vancouver, British Columbia — February 12, 2026 — Leads & Copy — Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF) has announced the start of a Pre-Feasibility Study (PFS) for its Berenguela silver-copper-manganese project in southern Peru. This marks a key step in the company’s strategy to advance the project toward a production decision.
The decision to move forward with the PFS follows the completion of a C$20 million equity financing and an 82-hole infill drilling program in 2025, which intercepted mineralization in 95% of the holes. An updated Mineral Resource Estimate, detailed in Aftermath’s news release dated December 4, 2025, improved confidence in the geological model and confirmed silver and copper mineralization across key zones.
The PFS will build on the improved geological confidence delivered by the infill drilling program.
According to Ralph Rushton, President and CEO of Aftermath Silver, the company is entering a transformational phase, supported by a strong balance sheet and a high-confidence resource base. He added that the results of the infill drilling and updated resource have provided the technical foundation to advance Berenguela to the Pre-Feasibility Study.
The company will be announcing the formal appointment of the successful engineering consultancies in the coming week, after a detailed review process carried out by its engineering team. At the same time, the company will be drilling key exploration targets at Berenguela and its Challacollo silver project in Chile.
The Berenguela project currently hosts Measured and Indicated Resources of 122.5 million ounces of silver and 717.1 million pounds of copper, along with a significant manganese resource.
Michael Parker, a Fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent qualified person, as defined by NI 43-101. Parker has reviewed and approved the technical content of this release.
Aftermath Silver Ltd. is a Canadian junior exploration company focused on silver and critical metals. It aims to deliver shareholder value through the discovery, acquisition, and development of quality silver and critical metal projects in stable jurisdictions. The company has developed a pipeline of projects at various stages of advancement, selected based on growth and development potential.
The company has acquired the rights to a 100% interest in Berenguela through an agreement with SSR Mining and EMX Royalties. The project is located in the Department of Puno, in southern central Peru. A NI 43-101 Technical Report on the property was filed January 16, 2026, and is available on Sedar.
Aftermath also owns a 100% interest in the Challacollo silver-gold project acquired from Mandalay Resources. A NI 43-101 mineral resource was released on December 15, 2020 and the Cachinal Silver-Gold project located 2.5 hours south of Antofagasta.
Source: Aftermath Silver Ltd.
