Vancouver, British Columbia--(Newsfile Corp. - November 24, 2020) -  Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF)  (the "Company" or "Aftermath Silver") announces that it has entered into an amendment agreement (the "Amendment Agreement") with SSR Mining Inc. ("SSR Mining") in respect of the previously announced definitive acquisition agreement (the "Acquisition Agreement") with SSR Mining dated September 30, 2020 to purchase 100% of the Berenguela silver-copper project located in Puno, Peru (the "Transaction").

Pursuant to the Amendment Agreement, Aftermath Silver and SSR Mining have agreed to, among other things, amend the payment terms in the Acquisition Agreement, as follows:

  1. decrease the total cash consideration payable to SSR Mining by US$275,000 from US$13,000,000 to US$12,725,000; and
  1. in lieu of the US$275,000 cash consideration payable to SSR Mining, to increase the total number of common shares of Aftermath Silver issuable to SSR Mining from C$3,000,000 to C$3,358,902.50.

The Amendment Agreement will result in an additional 458,077 common shares of Aftermath Silver being issuable to SSR Mining at a deemed price of $0.7835 per share for an aggregate of 4,287,049 common shares of Aftermath Silver (the "Payment Shares") issuable to SSR Mining.

Aftermath Silver is also pleased to announce that it has completed the initial closing of the Transaction pursuant to which Aftermath Silver made a cash payment of US$725,000 to SSR Mining and issued the Payment Shares to SSR Mining. The Payment Shares are subject to a statutory hold period of four month plus one day from the initial closing date, in accordance with applicable securities laws, expiring on March 24, 2021.

Final closing of the Transaction is expected to take place on or before November 24, 2026. The final closing of the Transaction is subject to the satisfaction of certain customary conditions, including that Aftermath make the remaining cash payments to SSR Mining totalling US$11,000,000 in accordance with the terms of the Acquisition Agreement, as amended.

Ralph Rushton, CEO and President of Aftermath Silver said: "I'd like to thank everyone at SSR Mining, Aftermath Silver and our legal team for their hard work in concluding the initial closing. I'd also like to welcome SSR Mining as one of our newest shareholders. We look forward to getting on the ground and advancing the Berenguela Project as soon as COVID-19 restrictions permit".

About Aftermath Silver Ltd

Aftermath Silver is a Canadian junior exploration company. Aftermath Silver offers investors silver-focused development opportunities in Chile and Peru, two of the world's top mining and silver jurisdictions. Aftermath Silver has assembled the right combination of talent, properties, strategy, risk management and marketing for investors seeking quality silver opportunities in today's precious metal markets. Aftermath Silver's leadership is recognized for value generation and corresponding shareholder success.


"Ralph Rushton"

Ralph Rushton
CEO and Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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; the Company's ability to perform its obligations, in whole or in part, under the Acquisition Agreement or the Amendment Agreement; the Company's ability to complete the Transaction; and general economic, market or business conditions, including the effects of COVID-19. 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 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.

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