Silver Tiger Metals Inc. (TSX-V:SLVR)  is pleased to announce that, further to its news release dated November 12, 2025, it has filed a final short form prospectus dated November 21, 2025 with the securities commissions in each of the provinces of Canada, except Quebec, in connection with its bought deal public offering of common shares of the Company at $0.73 per Common Share for aggregate gross proceeds of $40,004,000. The Offering is being conducted through a syndicate of underwriters including BMO Capital Markets and Stifel Nicolaus Canada Inc., as joint bookrunners, together with Canaccord Genuity Corp., Desjardins Securities Inc. and Ventum Financial Corp. The Company has granted the Underwriters an option to purchase an additional 8,220,000 Common Shares on the same terms and exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any. If the Over-Allotment Option is exercised in full, additional gross proceeds of $6,000,600 will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $46,004,600.

The Offering is being conducted in each of the provinces of Canada, except Quebec, and outside of Canada in accordance with applicable securities laws.

Closing of the Offering is expected to occur on or about November 26, 2025. The TSX Venture Exchange has conditionally approved the listing of the Common Shares to be issued pursuant to the Offering (including any exercise of the Over-Allotment Option), subject to customary conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they 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 in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act, and applicable state securities laws.

Final Short Form Prospectus is Accessible through SEDAR+:

Access to the Final Prospectus and any amendment to the documents is provided in accordance with securities legislation relating to procedures for providing access to a prospectus. The Final Prospectus is accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Final Prospectus and any amendment may be obtained, without charge, from Stifel Canada by email at prospectuscanada@stifel.com by providing the contact with an email address or address, as applicable. The Final Prospectus contains important detailed information about the Company and the Offering. Prospective investors should read the Final Prospectus and the other documents the Company has filed on SEDAR+ before making an investment decision.

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. 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 US$86.8 million (including US$9.3 million in contingency). Operating cash costs are projected at US$973/oz AuEq and US$12/oz AgEq, with AISC at US$1,214/oz AuEq and US$14/oz AgEq. The economics of the Project have been evaluated based on a discounted US$26/oz silver price and gold price of US$2,150/oz.

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. Company 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 Company, 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.