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AFTERMATH SILVER INVESTOR PRESENTATIONDecember 2019

TSX.V: AAG

OTCQB: AAGFF

Discovering silver. Defining value.

www.aftermathsilver.com | TSX.V : AAG

2Focused On Silver In Chile

Important Information

Cautionary Statement on Forward Looking Information

This presentation is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability oruse would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

This presentation does not constitute or form a part of, and should not be construed as an offer, solicitation or invitation to subscribe for, underwrite or otherwise acquire, any securities of Aftermath Silver, nor shall it or any part of it formthe basis of or be relied on in connection with any contract or commitment whatsoever.

Certain information in this presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively "forward-looking statements"). All statements, other thanstatements of historical fact are forward looking statements. Forward-looking statements are based on the beliefs and expectations of Aftermath Silver as well as assumptions made by and information currently available to AftermathSilver management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, all costs varying significantly from estimates, production rates varying from estimates,changes in metal markets, changes in equity markets, the proposed use of net proceeds from private placements, availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision inresource estimates or metal recoveries, ability to complete future drilling programs, drilling program results varying from expectations, delays in obtaining survey results, success of future development initiatives, the completion andimplementation of a preliminary economic assessment, pre-feasibility or feasibility studies, competition, operating performance, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals fromlocal authorities, community relations, and other development and operating risks. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may varymaterially from those described herein. Although Aftermath Silver believes that assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance andaccordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, Aftermath Silver disclaims any intent or obligation to update any forward-looking statement.

Although Aftermath Silver has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in orimplied by the forward-looking information, there may be other risks, uncertainties and other factors that cause performance, achievements, actions, events, results or conditions to differ from those anticipated, estimated or intended.Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Aftermath Silver disclaims any obligation to update any forward-looking statements, whether as a result of new information, futureevents or results or otherwise, except as required by applicable law.

About Reserves and Resources This presentation uses the terms measured, indicated and inferred resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that: (a) mineral resources are not economic mineral reserves;(b) the economic viability of resources that are not mineral reserves has not been demonstrated; and (c) it should not be assumed that further work on the stated resources will lead to mineral reserves that can be mined economically. Inaddition, inferred resources are considered too geologically speculative to have any economic considerations applied to them. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a highercategory. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for certain preliminary economic assessments.

Qualified Person Peter Voulgaris, MAIG, MAusIMM,, is a non-independent qualified person, as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this Presentation and consents to the information provided in the form and context inwhich it appears.



Challcollo Historical Resource

Notes on Historic Mineral Resources

Slide 12 of this presentation quotes a Challacollo Historic Mineral Resource:.

Please note, an independent “Qualified Person”, as defined in National Instrument 43-101 (“NI 43-101”), has not yet completed sufficient work on behalf of Aftermath to classify the historical estimate as a current indicated or inferred mineral resource, and Aftermath is not treating the historical estimate as a current mineral resource.

For full details please see the March 2015 43-101 Technical Report “NI 43-101 Technical Report for the Challacollo Silver Project, Region 1, Chile” QPs Mroczek, M., Collins, and M., Butler, S. of Mining Plus Canada Consulting Ltd. and Tapia, J.C., of Sedgeman S.A. Prepared for Mandalay Resources, available on the Mandalay Resources SEDAR profile.

•Challacollo mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005).•Mineral Resources are estimated at a cut-off grade of 60 g/t Ag.•Mineral Resources are estimated using a silver price of US$24/oz, a gold price of US$1,400 per ounce, metallurgical recoveries of 92% for silver and 75% for gold, and operating costs of US$50 per tonne.•A density of 2.45 g/cm3 is used as a base density with adjustments according to the variation of the estimated barium, lead and zinc grades.•No capping of Ag grades has been applied due to low grade variability. Au grades have been capped at 3 g/t for two sample composites 4.57 g/t Au and 4.11 g/t Au respectively.



Corporate Summary

Build a silver company, expanding an existing silver resource base by advancing low-risk projects in established mining jurisdictions. Early monetization of assets for investors.

Objective

✓ Acquire silver assets with current or historic resources

✓ Focus on projects with nearby infrastructure

✓ Operate in high-ranking mining friendly jurisdictions such as Chile

✓ Target projects with exploration upside

Strategy



Ralph RushtonPresident, CEO, Director

MiningExplorationMarketingCapital Raising

Peter VoulgarisTechnical Advisor

ExplorationMining EngineeringProject Management

Key People

Michael WilliamsExec. Chairman, Director

M&AMarketingExecutive ManagementCapital Raising



✓ Closed 2 private placements: $2.5m @ 8c and $3.3m @ 20c

• Key shareholder invested $3m @ 20c

✓ OTCQB Listing: AAGFF

✓ Made initial property payments on Cachinal and Challacollo projects.

✓ Budgeting and planning underway for drilling @ both projects.

✓ Initiated comprehensive investor marketing program.

✓ Reviewing additional projects in Latin America.

Recent Developments



As of January 6, 2019

Issued and Outstanding : 77.3m

Warrants: 24.8m

Fully Diluted: 102.1m

Management & insiders 3.5% of issued.

Eric Sprott: ±19% of issued

Cash at hand approx. C$2.5m

Cash value of warrants: C$4.1m

Capital Structure & Share Performance

30-day average daily trading volume:

TSX-V 215,000 shares/dOTCQB 112,000 shares/d



– view of historic processing on hill and workings on left and right

– view of historic stoping into hillChallacollo

Cachinal

2 Silver Exploration Projects In Chile



Why Chile?

• Low political risk: Chile is ranked #1 in Latin America for:

✓ political stability,

✓ security and

✓ skilled labour.

• Mining accounts for 10% of Chile’s GDP and 50% of Chilean Exports.

• Chile is a Top 10 global mining destination with a pro-mining government.

• Fuelled by the discovery at Chañarcillo the Chilean silver rush of the mid-19th century did much todrive demographic, infrastructural and economic growth.

• Today pure silver projects are overlooked in Chile, although it is the world’s 4th largest producer.Most of Chile’s silver production is a by-product of copper mining.



Project SummariesCachinal Snapshot



Project SummariesChallacollo Snapshot



Project SummariesMineral Resources

Cachinal

ChallacolloImportant. See

cautionary statements on Slide 2.

For full details please see the October 30, 2019 National Instrument 43- 101 (“NI 43-101”) Technical Report entitled “Amended and RestatedIndependent Technical Report for the Cachinal Silver-Gold Project, Region II, Chile.” Prepared by the qualified persons Cole, G and Couture, J. of SRKConsulting (Canada) Inc. for Aftermath Silver (the “Technical Report”). Available on Aftermath Silver’s SEDAR profile.



Project SummariesCachinal

1905 2018



Amended agreement dated October 24, 2019:

• AAG will buy 80% of the issued shares of Cachinal from Halo (formerly Apogee) which owns a 100% interest in the property for $1,575,000;

• AAG will issue a $1.575m convertible debenture to Halo, convertible @ $0.20, with staged repayments of $250,000, $525,000 and $550,000 due 6, 12 and 18 months after closing;

• The purchase is to be closed 5 business days after approval of the Purchase Agreement by the TSX Venture Exchange;

• AAG has paid $500k to date, $1.075m still outstanding

Cachinal Deal Terms



The Guanaco Gold Mine, 16km south of Cachinal

• Aftermath hopes to utilise the access road to Guanaco to accessits Cachinal project

• Austral Gold haul ore from the Amancaya satellite open pit &underground mine, 75km away

• Grid power is available nearby, 330 man camp, water licencesfrom surface catchment and bore field

Guanaco plant site. Map and picture from Austral Gold web site: https://www.australgold.com/

Our Neighbours

https://www.australgold.com/



Work program: $650-700k budget

• 3D laser surveys of voids

• Staged drilling

• Metallurgical test work: main veins & oxide low grade halo

• Drilling to facilitate a revised mineral resource estimate

Cachinal: Work Program



Challacollo

Location of Lolón shoot shown on previous slide

✓ Multiple veins, >3km strike length

✓ Excellent exploration upside

✓ Hanging wall potential above main Lolón vein



Amended Challacollo LOI, AAG to acquire 100%:

• $500,000 cash to be paid on or before July 31st, 2019 (Paid)

• $500,000 cash to be paid on or before December 31st, 2019 (Paid)

• $1,000,000 cash to be paid on or before December 31st, 2020;

• $5,500,000 on or before December 31st, 202. At AAG’s option, payment can be in AAG shares up to a value of$2,750,000, and the balance in cash, as long as the number of Aftermath shares issued doesn’t represent morethan 49% of AAG’s outstanding shares following such payment;

• Mandalay to retain a 3% Net Smelter Returns royalty on production, up to a maximum of $3,000,000.

• SSR Mining is entitled to a 2% NSR royalty with respect to all Ag products from the Challacollo concessions,payable from and after the date on which 36,000,000 ounces of silver have been sold or credited to the account ofMandalay, up to a maximum amount of $5 million, with a $5 million buyout option.

Challacollo Deal Terms



Challacollo: UpsideLolón Vein Long Section

Approximate base of weathering

Along-strike oxide potential, under sand cover

High grade shoot, sulphide potential, sulphide metallurgy to be confirmed

Parallel high grade veins & low grade halo to be investigated over 2 Km of known Lolón Vein Strike



Challacollo: Work Program

Work program: $500k budget

• Resource drilling on Lolón hangingwall, footwall parallel

structures and low-grade halo mineralisation.

• Metallurgical test work on hi grade material & dump/heap

leach (column leach) on low grade halo material.

• Down dip sulphide drilling & testing of sulphide metallurgy.

• Additional sub-parallel vein systems to be tested with

minimum drilling

Hanging wall high grade narrow veins & bulk mining halo opportunity. NB: these are NOT part of the Lolón resource

Footwall potential is less well understood. Drilling needs to extend into footwall



Challacollo: Infrastructure Advantages

• Groundwater rights for 12 l/sec held since 2005 at Tamenticacommunity (10km west of property),

• Other water sources located and a developed bore (25 l/sec) islocated on the “water concessions”. Goal is to transfer water rights tothe water concessions bore.

• Planned desalination pipeline will pass through Challacollo Tenement.

• Not at altitude: surrounding plain 1,000m above sea level (ASL) withthe Challacollo Mountains rising towards around 1,550m ASL.



What’s Coming Up?

✓ Marketing ramp up through year end into Q1 2020

✓ Design and planning of technical program for Cachinal & Challacollo

✓ Increased exploration news flow in 2020

✓ Increase in media coverage

✓ New project acquisitions?



Key Highlights

✓ 2 epithermal silver projects in Chile

✓ AAG’s exploration work to examine potential open pit scenarios for both

projects

✓ Exploration drill programs currently being planned

✓ Experienced team

✓ Mining friendly jurisdiction

CONTACT INFORMATIONNovember 2019

TSX.V: AAG

OTCQB: AAGFF

Ralph Rushton President, CEO & Director

[email protected]

Phone : +1 604 484 7855 http://aftermathsilver.com/

Mike WilliamsExec. Chairman & Director

[email protected]

http://aftermathsilver.com/

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