Glenn Jessome, President & CEO of Silver Tiger Metals (TSX.V:SLVR) (OTCQX:SLVTF), joins me for a visual construction update of the surface heap-leach mine; with commissioning and first pour targeted for December, 2027; at the El Tigre Silver-Gold Project in Sonora, Mexico. We review the work already completed, the work yet to come, the future advancement of the underground mine at El Tigre, and the exploration program around the historic North Tigre Mine that is underway.

Key construction updates at El Tigre:

• Build out of Mexican engineering and construction team is nearing completion with a total of 166 persons on site and 100,000-man hours logged since start of construction
• Detailed engineering by Kappes, Cassiday & Associates (“KCA”) and Kappes, Cassiday del Norte S de RL de CV (“KCN) pursuant to the Engineering Procurement and Construction Management Contract (“EPCM”) for the Project is proceeding on schedule
• Procurement on long lead items is complete, including crusher plant, conveyer and stacking system, and the Merrill-Crowe plant and refinery
• Land clearing, and flora/fauna management for the total construction area is 60% complete
• Installation of construction offices has been completed
• Engineering for improvements to the 46 km road built from Colonia Morelos to El Tigre is complete. The contract to improve this road has been awarded and work has begun, with 25% of road improvements complete
• The major earthworks contract has been awarded for the heap leach, ponds and crusher platforms and these earthworks have commenced
• Comision Federal de Electricidad (“CFE”) have granted access to grid electrical power for the El Tigre Project
• Long lead items such as crusher, conveyor, stacking and Merrill-Crowe have been ordered.
• Mine commissioning and first pour on track to commence in December 2027.

We discussed the larger growth plan to keep advancing the derisking and development of the underground mine at El Tigre, moving the economics from the current Preliminary Economic Assessment (PEA) to a PFS, and some of the synergistic advantages of having a large build team and engineers on site for the surface heap-leach mine, that can then transition over to working on the underground, reducing down some of the assumed upfront capex in the PEA.

Additionally, the Company is now expanding the scope across their district-scale land package, and has been conducting exploration drilling targeting the high-potential vein systems north of the main El Tigre area, near the historic North Tigre Mine. This priority zone aligns directly with the El Tigre North Mine Design outlined in Section 24 of the Company’s recently filed PEA (dated January 20, 2026). First results will start being released to the market in the months to come.

If you have any follow up questions for Glenn regarding Silver Tiger Metals, then please email them into me at Shad@kereport.com.

• In full disclosure, Shad is a shareholder of Silver Tiger Metals at the time of this recording, and may choose to buy or sell shares at any time.

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