Silver Tiger Announces Closing of C$40,004,000 Bought Deal Financing

Core Viewpoint - Silver Tiger Metals Inc. has successfully closed a bought deal offering, raising approximately C$40 million to fund exploration and development at its El Tigre Project in Mexico [1][2]. Group 1: Offering Details - The offering consisted of 54,800,000 common shares sold at a price of C$0.73 per share, resulting in gross proceeds of approximately C$40,004,000 [1]. - The syndicate of underwriters included BMO Capital Markets and Stifel Nicolaus Canada Inc. as joint bookrunners, along with Canaccord Genuity Corp., Desjardins Securities Inc., and Ventum Financial Corp. [2]. - A cash commission of 5.5% on the gross proceeds was paid to the underwriters [2]. Group 2: Project Information - Silver Tiger's El Tigre Project is located in Sonora, Mexico, covering an area of 28,414 hectares and is 100% owned by the company [5]. - The company has drilled over 150,000 meters at the El Tigre Project since 2017, with significant drilling activity occurring since 2020 [6]. - The Preliminary Economic Assessment (PEA) for the El Tigre open pit was released in November 2023, showcasing robust economic metrics [7]. Group 3: Economic Metrics - The October 2024 Preliminary Feasibility Study (PFS) projects an After-Tax Net Present Value (NPV) of US$222 million at a 5% discount rate and an After-Tax Internal Rate of Return (IRR) of 40.0% with a payback period of 2.0 years [7]. - The project is expected to have a 10-year mine life, delivering an undiscounted After-Tax Cash Flow of US$318 million [7]. - Initial capital costs are estimated at US$86.8 million, with operating cash costs projected at US$973/oz AuEq and US$12/oz AgEq [7].