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Anteros Metals Inc. (CSE: ANT) (‘Anteros’ or the ‘Company’) is pleased to report results from recent assessment work at its 100% owned Strickland VMS Property (‘Strickland’ or the ‘Property’) in southwestern Newfoundland. The work focused on the digitization and interpretation of multi-element geochemical data from historic trenching, advancing drill targeting efforts on this underexplored polymetallic volcanogenic massive sulphide (‘VMS’) system.

Prior to its public listing, Anteros commissioned the compilation, digitization, and 3D geological modelling of the Strickland VMS system in 2023 and 2024. This foundational work established a strong understanding of Property’s geology, alteration, and structure, and enhanced the understanding of multiple mineralized zones along a 1.4 kilometre trend (Figure 1). Since going public, Anteros has advanced the project through targeted follow-up, focusing on geochemical vectoring and priority zone refinement. The 2025 program confirmed compelling indicators of feeder-style alteration and mineralization in underexplored zones and highlighted several new high-priority exploration targets.

Mineralization Highlights:

• Feeder-style alteration and mineralization confirmed: Compilation of 95 multi-element assays from 2012 trenching, integrated with historical drill data in 3D models, is helping to vector toward the potential VMS core and optimize future drill targeting.
• Copper Zone: Now a high-priority target, with historical trench sampling returning up to 3.7% Cu and 3.25 g/t Au over 1 metre (Cu-C1, Table 1), alongside elevated cobalt and intense alteration – features consistent with VMS feeder conduits.
• Gold Zone: Historical trenching returned 1-metre intervals up to 3.2% Cu and 1.32 g/t Au (Au-C1, Table 1), with alteration and elemental ratios indicating proximity to a hydrothermal center. This zone has never been drill-tested.
• Main Zone and Main Extension: Historical trench samples demonstrate elevated Pb-Zn-Ag over extended strike lengths, consistent with stratiform VMS-style mineralization.

Table 1: Select 2012 Historical Trench Intercepts¹ from Key Mineralized Zones

¹Trench intercepts are historic and may not be representative of true width

Figure 1: Property Location, Geology, and Mineralized Zones

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‘The presence of multiple, mineralized zones along an over 1 kilometre trend indicates a significant VMS system,’ said Trumbull Fisher, Anteros CEO. ‘Specifically, the underexplored feeder-style alteration and high-grade gold-copper intervals of the Copper and Gold Zones have emerged as immediate exploration priorities.’

Next Steps

Building on the promising results to date, Anteros is planning a focused exploration program that includes:

• Field verification of historical trench and drill collar locations to validate spatial accuracy
• Integration of additional multi-element geochemistry into 3D models to refine and prioritize drill targets
• Hyperspectral and induced polarization (‘IP’) surveying to image alteration halos and sulphide concentrations at depth
• Diamond drilling of the Copper and Gold Zones, which remain largely untested despite returning high-grade trench results

About The Property

Strickland is held 100% by Anteros and is located approximately 85 kilometres south of Stephenville, within the Exploits Subzone of the prolific Dunnage Zone in central Newfoundland – an area renowned for hosting world-class VMS deposits. The Property hosts seven documented zones of copper (‘Cu’), lead (‘Pb’), zinc (‘Zn’), silver (‘Ag’), gold (‘Au’) mineralization along a 1.4 kilometre trend.

Mineralization at Strickland is interpreted to represent a bimodal-felsic (Kuroko-type) VMS system. Documented sulphide mineralization includes sphalerite, chalcopyrite, galena, and pyrite in high-grade polymetallic horizons-positioning the Property within the scope of Canada’s Critical Minerals Strategy.

In 1981, D.R. Prince of Falconbridge Nickel Mines Ltd. reported the following historical mineral inventories:

• 260,000 tonnes at 195 g/t Ag and 5.25% combined Pb and Zn at the Main Zone,
• 15,000 tonnes at 480 g/t Ag and 2% combined Pb+Zn at the Silver Hill Zone, and
• 750,000 tonnes at 2% combined Pb+Zn at the Main Extension Zone

(Source: Falconbridge Nickel Mines Ltd., Internal Report, Geofile #011O/16/0139)

These estimates are considered historical in nature and were not prepared using current Canadian Institute of Mining, Metallurgy and Petroleum (‘CIM’) Definition Standards. A Qualified Person has not completed sufficient work to classify the historical estimates as current mineral resources, and Anteros is not treating them as current mineral resources. The Company considers these estimates relevant to the extent that they indicate the presence of significant mineralization and support continued exploration.

The reliability of the estimates is uncertain due to the age of the data, incomplete documentation of estimation methods, and the lack of modern QA/QC protocols. The original report does not provide specific cut-off grades, metal price assumptions, or a description of the estimation methodology. To verify or upgrade these estimates to current standards, Anteros would need to complete field validation of historic trench and drill collar locations, resample archived or in situ material using modern analytical methods, apply current QA/QC protocols, and complete a compliant geological model that supports estimation in accordance with CIM Definition Standards.

Since acquiring the Property in March 2022, Anteros has completed comprehensive digital compilation and geological modelling of historical data including airborne and ground geophysics, geological mapping, geochemistry, and over 7,000 metres of historical drilling and trenching.

More at www.anterosmetals.com/strickland.

Qualified Person

The technical content of this news release has been reviewed and approved by Jesse R. Halle, P.Geo., an independent Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).

About Anteros Metals Inc.

Anteros is a multimineral junior mining company applying data science and geological expertise to identify and advance critical mineral opportunities in Newfoundland and Labrador. The Company is currently focused on advancing four key projects across diverse commodities and development horizons. Immediate plans for their flagship Knob Lake Property include bringing the historical Fe-Mn Mineral Resource Estimate into current status as well as commencing baseline environmental and feasibility studies.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company’s mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

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Apollo Silver Corp. (‘Apollo’ or the ‘Company’) (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF0) is pleased to announce it has acquired 2,215 hectares (‘ha’) of highly prospective claims contiguous to its Waterloo property at its Calico Silver Project (‘Calico’ or ‘Calico Project’). The newly acquired claims herein referred to as the Mule claims comprise 415 lode mining claims, and have been acquired from LAC Exploration LLC (‘LAC’), a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC; NYSE: LAC), who were the previous operators of the property. Preliminary mapping and sampling conducted by the prior operator of the Mule claims identified several high-grade silver targets, which will be evaluated as part of Apollo’s future exploration planning.

In addition, a mapping and sampling program was recently completed at the Burcham gold prospect area in the southwest region of the Waterloo property (see news release dated February 12, 2025). This program confirmed the importance of the Calico fault system with respect to controls on the silver (‘Ag)’ and gold (‘Au’) mineralization in the area and has identified the potential for copper (‘Cu’), zinc (‘Zn’) and lead (‘Pb’) mineralization associated with stratabound and mantos lenses.

Highlights:

• Mule claims expand the Calico Project land package by over 285%, from 1,194 ha to 3,409 ha of contiguous claims.
  • Mule claims trend along the mineralized Calico Fault System responsible for mineralization seen at Calico.
  • Reports from the prior operator indicate that there are several strongly anomalous silver values on the property, which Apollo will attempt to ground-truth in the coming exploration programs.
  • Sampling done across the Mule claims by previous operator has   identified a large Ag anomaly associated with the same suite of host rocks at the Waterloo property.
• Exploration at the Burcham prospect at Waterloo included assays from 27 surface samples:
  • Assay peaks up to 14.10 g/t Au, 20.70 g/t Ag, 0.17% Cu, 22.80% Zn and 5.74 % Pb from various samples (see Table 1).
  • Identification of strata-bound lenses and mantos that show strong potential for Cu, Zn and Pb mineralization.

Ross McElroy, President and CEO of Apollo, commented , ‘The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts 3 discrete drill delineated zones with resource estimates along a 4km long trend, along the Calico fault zone. The Mule claims increase the overall land area of the Calico project by more than 2.5x. The new claims are strategically located to the east along the very prolific Calico mineralized corridor and represent a great opportunity for further discoveries. Apollo is committed to continuing to unlock value in California for our shareholders.’

Mule Claims Acquisition

The Mule claims are composed of 415 lode mining claims administered by the Bureau of Land Management. Mapping and sampling conducted by the previous operators across the Mule claims has identified a continuation of the mineralized Calico Fault System. The sedimentary rocks of the Barstow formation which hosts the Waterloo silver deposit, as well as the volcanic Pickhandle formation are pronounced all over the acquired claims. The contact between the Barstow and Pickhandle formation has demonstrated potential for gold mineralization as is seen at Waterloo. Sampling across the Mule claims has identified several strong Ag and Au anomalies. Apollo plans to conduct its own follow up exploration program on the Mule claims to better develop its own exploration targets and delineate where this highly prospective contact is exposed.

Details of the Transaction

The Mule claims were acquired by Apollo’s wholly owned U.S. subsidiary, Stronghold Silver USA Corp. (‘Stronghold’), from LAC. As consideration for the acquisition, Apollo paid US$250,000 in cash, and LAC retains a 2.0% net smelter return royalty (the ‘Royalty’) on the Mule claims.

Apollo, through Stronghold, retains the right to buy back 1.0% of the Royalty at any time on or before the date that is thirty (30) days from the date of commencement of commercial production, for a payment of US$1,000,000.

Figure 1: Map of Calico Project in San Bernardino, California

2025 Burcham Exploration Program

The Company has completed its previously announced surface exploration work at its Burcham prospect (see news release dated February 12, 2025). The work completed consisted of detailed mapping, sample collection and target generation, with the aim to follow up with future drilling.

The exploration team has completed some of the most detailed mapping to date at the Calico Project, including previous programs at Langtry and Waterloo. Structures dominating at Burcham are similar to those at Waterloo with the system being dominated by the Calico Fault, a sinuous moderately plunging reverse fault that dips steeply to the north. Potential for Au mineralization is strong along the contact of the Burcham and Pickhandle formations. Previously unrecognised, stratiform mantos and lenses occupying fold flexures show strong potential for Cu mineralization. This type of mantos have been historically mined on the north side of the Waterloo deposit, and occur near the contact between the Pickhandle Formation and the overlying Barstow Formation. Historic mining on the North side of Waterloo Deposit targeted a manto about 1.5 m thick. Copper mineralization is associated with strong hydrothermal alteration which is seen to diminish as you move eastward along the property. Assays of the sample results are presented in Table 1.

Figure 2: Summary Map of Burcham Exploration Program

Table 1: Location and Assay Results of Samples Collected

Sampling and Quality Assurance/Quality Control

Grab samples were collected in the field and a 2 kg representative sample was sent for analysis. Rock samples are catalogued and securely stored in a warehouse facility in Barstow, California until they are ready for secure shipment to ALS Global Geochemistry in Reno, Nevada (‘ALS Reno’) for sample preparation and gold analysis. After preparation, splits of prepared pulps are securely shipped to ALS Vancouver, British Columbia for analysis.

Samples were prepared at ALS Reno (Prep-31 package) with each sample crushed to better than 70% passing a 2 mm (Tyler 9 mesh, U.S. Std. No. 10) screen. A split of 250 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh, U.S Std. No 200) screen. Surface samples were analyzed using complete characterization via the CCP-PK05 methods, which include whole rock analysis (ME-ICP06), ME-MS61, single element trace method using aqua regia digestion and ICP-MS (ME-MS42) and rare earth elements using the method ME-ME81, which consists of lithium borate fusion followed by ICP-MS. All surface samples were submitted for gold analysis by fire assay (Au-AA23). Over-range samples analyzed for copper, lead and zinc were re-submitted for analysis using a four-acid digestion and ICP-AES finish (method OG62) with a range of 0.001-50% for copper, 0.001-20% for lead, and 0.001-30% for zinc. Gold was analyzed by fire assay with atomic absorption finish (method Au-AA25) with a reportable range of 0.01-100 ppm Au. All analyses were completed at ALS Vancouver except for gold by fire assay, which was completed at ALS Reno.

Apollo’s QA/QC program includes ongoing auditing of all results from the laboratories. The Company’s Qualified Person is of the opinion that the sample preparation, analytical, and security procedures followed are sufficient and reliable. The Company is not aware of any sampling issues or other factors that could materially affect the accuracy or reliability of the data reported herein.

2025 Marketing Initiatives

The Company also announces that it has engaged Creative Direct Marketing Group, Inc. (‘CDMG’), an arm’s-length service provider, to provide creative services in accordance with the policies of the TSX Venture Exchange (‘TSXV’) and applicable securities laws. Based in Nashville, Tennessee, CDMG specializes in marketing, advertising, and public awareness across various sectors, including mining and metals.

Pursuant to a work order dated May 16, 2025 (the ‘Agreement’), the Company has retained CDMG’s for a one-time fee of approximately US$129,800. The Agreement represents a creative budget for marketing and advertising services (the ‘Services’), enabling CDMG to begin preparing content that may be used in future campaigns. No specific marketing campaign has been prepared, approved, or scheduled at this time. The engagement is subject to the approval of the TSX Venture Exchange.

Qualified Person

The scientific and technical data contained in this news release was reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo’s Director, Mineral Resources. Ms. Lépine is a registered professional geologist in British Columbia and a QP as defined by NI 43-101 and is not an independent of the Company.

About Apollo Silver

Apollo Silver has assembled an experienced and technically strong leadership team who have joined to advance quality precious metals projects in sought after jurisdictions. The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project, in Chihuahua, Mexico.

Please visit www.apollosilver.com for further information.

ON BEHALF OF THE BOARD OF DIRECTORS

Ross McElroy, President and CEO

For further information, please contact:

Amandip Singh, VP Corporate Development
Telephone: +1 (604) 428-6128
Email: info@apollosilver.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation the expected benefits and strategic rationale of the Mule claims acquisition; the timing, scope, and success of planned exploration activities, including mapping, sampling, and drilling at the Burcham prospect; the potential for silver, gold, and copper mineralization; and the Company’s ability to advance, develop, and permit the Calico Project. Forward-looking statements include predictions, projections and forecasts and are often, but not   always,   identified   by   the   use   of   words   such   as   ‘anticipate’,   ‘believe’,   ‘plan’,   ‘estimate’,   ‘expect’,   ‘potential’,   ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on   the reasonable assumptions,   estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made.   Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including   but   not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters   as   plans   continue   to   be   refined. Forward-looking statements are based on assumptions management believes to be reasonable, including   but   not   limited   to   the   price   of   silver,   gold   and   Ba;   the   demand   for   silver,   gold   and   Ba;   the   ability to   carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results   not   to   be   as   anticipated,   estimated   or   intended.   There   can   be   no   assurance   that   forward-looking   statements   will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except   in   accordance   with   applicable   securities   laws.   The   forward-looking   information   contained   herein   is   presented   for the   purpose   of   assisting   investors   in   understanding   the   Company’s   expected   financial   and   operational   performance   and the   Company’s   plans   and   objectives   and   may   not   be   appropriate   for   other   purposes.   The   Company   does   not   undertake to update any forward-looking information, except in accordance with applicable securities laws .

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