Silver Tiger Metals Signs EPCM Contract With KCA, Sets Q4 2027 Target for El Tigre First Pour

• Silver Tiger has signed an Engineering, Procurement and Construction Management (EPCM) contract with Kappes, Cassidy & Associates (KCA) to oversee construction of the El Tigre heap leach mine and processing plant, with the Board of Directors formally approving the construction decision.
• Mine engineering is 90% complete, with land clearing and site preparation already underway in Sonora, Mexico.
• The company holds over US$86 million (approximately C$120 million) in cash to fund construction.
• A non-dilutive debt financing package is nearing completion, with term sheets advanced and negotiations narrowed to select lenders.
• Exploration drilling is set to resume within 30 days, targeting high-grade silver and gold veins north of El Tigre, near the historic North Tigre Mine.

Silver Tiger Metals Inc. (TSXV: SLVR | OTCQX: SLVTF | FR: 10C) is a Canadian-based company constructing the El Tigre Stockwork Zone Project, a silver and gold heap leach operation in Sonora, Mexico. The project is 100% owned by the company and covers more than 37,000 hectares. A Pre-Feasibility Study and Preliminary Economic Assessment were filed in 2025 and January 2026 respectively, with both documents available on SEDAR and the company's website.

KCA EPCM Contract Signed as El Tigre Targets Q4 2027 First Pour

Silver Tiger has signed an EPCM agreement with Kappes, Cassidy & Associates (KCA) and its Mexican subsidiary, Kappes, Cassiday del Norte (KCN). An EPCM contract is an arrangement in which a specialist third-party firm takes responsibility for engineering design, procurement of equipment and materials, and day-to-day construction management on behalf of the project owner. The company has also hired its own in-house mine construction executive team to work alongside KCA and KCN.

Considerable groundwork has already been completed ahead of the active build phase. Basic mine engineering is 90% complete, while engineering for the heap leach pad and waste dump has been finalised by WSP, a separate technical consultancy. On-site activity is also underway, with land clearing commenced in the construction area, including flora and fauna rescue in line with environmental requirements. Design work for the personnel camp and construction offices is complete and in a bidding process, as is the contract to improve the 46-kilometre access road built by Silver Tiger between 2023 and 2024.

The Board of Directors has formally approved the construction decision for El Tigre. 

President and CEO Glenn Jessome stated: 

"Our team has poured tremendous effort into general engineering and site preparation over recent months, positioning us perfectly for the execution phase of construction. Signing the EPCM agreements with industry leaders KCA and KCN now accelerates construction and puts us firmly on track for commissioning and first pour in Q4-2027, a major de-risked milestone that unlocks significant shareholder value in this surging silver-gold environment."

US$86 Million Treasury and Debt Financing Progress Underpin Construction Confidence

Silver Tiger currently holds more than US$86 million in cash, equivalent to approximately C$120 million. The company is also nearing completion of a debt financing package, with term sheets at an advanced stage and negotiations narrowed to a select group of lenders. The financing is structured on non-dilutive terms, meaning no new shares will be issued to raise the capital.

The proceeds are intended to support both the surface heap leach operation and the potential future development of the underground mine at El Tigre. The company noted this approach is designed to provide flexible capital options for combined surface and underground development.

Silver Tiger was also recognised as one of the top 50 performers on the TSX Venture Exchange for 2025, ranking 12th based on a 304% share price appreciation and 463% market capitalisation growth over the year. The company was similarly named to the 2026 OTCQX Best 50 ranking, based on total return and average daily dollar volume growth in 2025.

Exploration Drilling Resumes in 30 Days Targeting High-Grade Veins North of El Tigre

Silver Tiger is nearing completion of its ongoing metallurgical and geotechnical drilling programme within the Stockwork Zone at El Tigre. Metallurgical drilling examines how ore responds to the processing method, while geotechnical drilling assesses ground conditions for infrastructure placement. This programme is expected to wrap up within the next 30 days.

Upon completion, the company will redirect its drilling to the vein systems north of the main El Tigre area, near the historic North Tigre Mine. This zone was identified in the January 2026 PEA as having exploration upside beyond the defined underground and Stockwork resources, with prospective areas up to 700 metres north of the existing resource listed as priority targets.

President and CEO Glenn Jessome stated:

"Our exploration team is energised and ready to resume aggressive drilling in the next 30 days, targeting those exciting high-grade silver and gold veins north of El Tigre that continue to demonstrate the district's exceptional expansion potential."

The PEA also highlighted significant exploration upside beyond the defined underground and Stockwork resources. The company stated that the next phase of drilling is intended to build on the economics demonstrated in the underground PEA and the Pre-Feasibility Study for the Stockwork Zone, with exploration running concurrently alongside mine construction.

Looking Ahead

With a signed EPCM contract, Board-approved construction decision, 90% engineering completion, and site preparation underway, Silver Tiger's near-term milestones include the award of contracts for the access road upgrade and personnel camp, and the closing of the debt financing package. The company also expects to commence exploration drilling in the northern vein zone within 30 days. Commissioning and first pour remain targeted for Q4 2027, while the underground PEA continues to advance toward a separate future construction decision.

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