Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF) announced that it has made an early US$1.5-million property payment to EMX Royalty for its Berenguela silver-copper-manganese project in southern central Peru.
The payment is part of Aftermath Silver’s option agreement to acquire a 100% interest in the Berenguela project.
This advance payment, made ahead of the original November 2026 deadline, has resulted in a reduced remaining balance of US$1.65 million due at that time. It follows a previously completed US$3 million payment in May 2025.
“We will continue to focus our efforts on Berenguela and expect an updated NI 43-101 mineral resource estimate to be completed soon,” Aftermath Silver CEO Ralph Rushton said in a statement.
Rushton added that the company is looking at following up its recent drilling in the eastern part of Berenguela, where Aftermath intersected 153 metres of 1.12% copper, 290 g/t silver and 7% manganese.
The acquisition agreement originated with SSR Mining and was later assumed in part by EMX Royalty following its acquisition of a royalty and payment portfolio from SSR and its subsidiaries.
In addition to the cash payments, EMX will retain a sliding-scale net smelter return (NSR) royalty on future mineral production at Berenguela, including a 1% NSR when silver prices are at or below US$25 per ounce, and a 1.25% NSR when silver exceeds US$25 per ounce and copper is above US$2 per pound.
Shares of Aftermath were around 3% higher in Toronto and New York on Thursday morning.