Aftermath Silver Increases Private Placement to $15.6-Million

Vancouver, August 28, 2020 - Aftermath Silver Ltd. (TSXV: AAG) (OTCQB: AAGFF) (the "Company" or "Aftermath") is pleased to announce that it is increasing its previously announced non-brokered private placement (see News Release #10, dated August 26, 2020) from 19,250,000 shares to 24,000,000 shares at a price of $0.65 per share.

Mr. Eric Sprott will increase his investment in the financing in order to hold approximately 19.9% of Aftermath issued and outstanding Common Shares, post-closing.

The private placement is subject to the approval of the TSX Venture Exchange and the securities will be subject to a four month and one day hold period under securities laws.

The Company intends to use the net proceeds for exploration of the Berenguela silver-copper project in Peru, and the Challacollo and Cachinal silver-gold projects in Chile, and for general working capital and business development.

The private placement is subject to the approval of the TSX Venture Exchange and other applicable securities regulatory bodies, and the securities will be subject to a four month and one day hold period from the closing date, under Canadian securities laws.

About Aftermath Silver Ltd

Aftermath Silver Ltd. is a 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 exploration and development.

ON BEHALF OF THE BOARD OF DIRECTORS

"Ralph Rushton"

Ralph Rushton
CEO and Director
604-484-7855

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; differing results and recommendations in the Feasibility Study; 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 Silvers' 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.

NOT FOR DISSEMINATION IN THE UNITED STATES

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