Unico Silver Limited · ASX:USL
Unico Silver — Investor Presentation (September 2025)
28 slides from Unico Silver's investor presentation, Sep 23, 2025
Slide 1: Building the Next Tier-One Silver Development Company
Unico Silver ASX:USL For personal use only Building the Next Tier-One Silver Development Company Cerro Leon Mineral Resource Estimation INVESTOR PRESENTATION SEPTEMBER 2025
Slide 2: Forward Looking Statements and Disclosures
For personal use only Forward Looking Statements and Disclosures DISCLAIMER COMPETENT PERSON STATEMENT The following material is for general information purposes only and is not to be relied upon for the making of an investment This presentation contains information extracted from previous ASX decis
Slide 3: Corporate Snapshot
Corporate Snapshot Share Price 1 year 510M 0.6 Shares 0.5 $0.50 12.5M only 0.4 Cash (AUD) **Cash balance as of 30 June 2025 Excludes proceeds of $25m placement For personal use announced 20 August 2025 A$ 0.3 255M 0.2 Market capitalisation (AUD) AUD$0.505 per share 0.1 39M Options / Performance 0 Se
Slide 4: Vision and Investment Summary
VISION INVESTMENT SUMMARY To grow a globally significant silver development company with +300Moz silver equivalent resources 01. POINT OF DIFFERENCE Emerging silver developer $12.5m cash at June 2025 plus proceeds of $25m placement 232Moz AgEq total resources (Appendix A and B) For personal use only
Slide 5: PLUS and BEYOND: Exploration and development strategy
PLUS 150 and BEYOND 300 Exploration and development strategy For personal use only IMMEDIATE PLAN MEDIUM-TERM STRATEGY to transition from explorer to to unlock value through growth in development focusing on “high-value” sulphide resources, enhancing free-milling silver ounces project scale and long
Slide 6: Single Asset Silver Miners: Global M&A
Single Asset Silver Miners: Global M&A Tier-one typically produce 5-7Moz silver per annum SILVERCREST GATOS SILVER MAG SILVER ADRIATIC METALS La Chispas mine, Mexico Las Gatos mine, Mexico Juanicipio mine, Mexico Vareš mine, Bosnia For personal use only Oct 2024 Oct 2024 May 2025 September 2025 Acqu
Slide 7: Cerro Leon MRE increases to 162 Moz AgEq
Cerro Leon MRE increases to 162 Moz AgEq Pathway to >250Moz AgEq global resource with upcoming Joaquin MRE and 30,00m of drilling Substantial increase to global mineral resources • Cerro Leon global resource now stands at 31Mt at 161gpt silver equivalent (AgEq) for 162 Moz AgEq For personal use only
Slide 8: New Discoveries Drive Resource Growth
New Discoveries Drive Resource Growth Mineralisation remains open at all prospects For personal use only Cerro Leon Project – September 2025 Global Mineral Resource Recent drill highlights (May 2025) AgEq Ag Category Tonnes AgEq (Moz) Au (gpt) Pb (%) Zn (%) Ag (Moz) Au (Koz) Pb (Mlb) Zn (Mlb) (gpt)
Slide 9: Substantial Increase to Global Resources
Substantial Increase to Global Resources Successful execution of BEYOND 300 resource growth strategy Total resources 232Moz AgEq For personal use only Includes 126Moz Ag, 605koz Au Revised Cerro Leon MRE includes 20,456m of new drilling Discovery cost of USD 10c per AgEq resource oz Further MRE grow
Slide 10: Exploration Target
Exploration Target Exploration roadmap to +150Moz pit constrained free-milling oxide silver mineralisation TARGET OVERVIEW PLUS 150 EXPLORATION TARGET BY PROSPECT NEXT STEPS Joaquin Project For personal use only 180.0 High Confidence Emerging Discoveries Cerro Leon Oxide infill and confirmation dril
Slide 11: New Discoveries
New Discoveries Step-out holes at La Negra and La Morocha delivered broad, shallow oxide JDD017-25 intercepts – open in all directions Oxide mineralisation La Negra SE For personal use only JDD017-25 90m at 40gpt Ag, 1.3gpt Au from 10m, inc 4m at 20gpt Ag, 8.7gpt Au from 23m, and 6m at 35gpt Ag, 6.5
Slide 12: La Negra Extension
La Negra Extension First systematic drilling of southeast extension since project consolidation Drilling by USL has confirmed significant extensions and upside to La Negra Foreign Estimate For personal use only 8.3Mt at 103gpt Ag, 0.14gpt Au Historical drill holes outside the Foreign Estimate DDJ-11
Slide 13: Exploration and Development Milestones
Exploration and Development Milestones For personal use only COMPLETE UNDERWAY 1H 2026 (2H 2025) Regional consolidation Revised MRE Revised MRE (Cerro Leon / Joaquin acquisitions) Detailed geotechnical Pre-Feasibility Study (PLUS 150) 30,000m exploration and and pit optimisation RIGI qualification e
Slide 14: De-risking the Pathway to Development
De-risking the Pathway to Development For personal use only Land Access Mining Permits Technical Studies Land Access Agreements in All resources within granted Detailed hydrology, place for all priority exploration mining licenses “minas” geotechnical areas Baseline Environmental Studies Robust meta
Slide 15: Logical consolidation of underexplored silver district
Logical consolidation of underexplored, undercapitalised silver district TIMELINE LARGE RESOURCE BASE Thoughtful consolidation For personal use only 232Moz AgEq of two fragmented silver Includes: districts 126Moz Ag 605koz Au Nov 2022 100% Acquisition of TWO ADJACENT SILVER DISTRICTS Pinguino distri
Slide 16: Drilling to Drive Resource Growth
Drilling to Drive Resource Growth CY2025 drill campaign (50,000m) at 13-year high silver prices HISTORICAL DRILLING Total Drilling by Year and USD Silver Price Project Period Meters Pinguino 2005-2013 69,338 For personal use only Joaquin 60,000 Cerro Leon 2025 Guidance Sierra Blanca 2007-2013 18,969
Slide 17: Joaquin Camp Site Overview
Maintenance Shed For personal use only & Warehouse La Morocha Site Office UG Portal Accommodation Access road (150 people) to provincial highway Route 12 Kitchen and Dining Room SITE OVERVIEW Joaquin Camp Image looking southwest showing Joaquin camp and accommodation, warehouse and site office ASX:U
Slide 18: Board and Management
Board and Management ARGENTINA Peter Mullens Todd Williams Melanie Leydin José Bordogna Peter Canterbury Emilio Bastias Patricio Brividoro Chairperson Managing Director Non-Executive Director Non-Executive Director Non-Executive Director Country Manager VP Exploration For personal use only Mr Mullen
Slide 19: Cerro Leon: September 2025 MRE – Marta Centro
Cerro Leon: September 2025 MRE Marta Centro For personal use only ASX:USL 19
Slide 20: Cerro Leon: September 2025 MRE – Marta Norte
Cerro Leon: September 2025 MRE Marta Norte For personal use only ASX:USL 20
Slide 21: Cerro Leon: September 2025 MRE – Marta Este
Cerro Leon: September 2025 MRE Marta Este For personal use only ASX:USL 21
Slide 22: Cerro Leon: September 2025 MRE – Karina
Cerro Leon: September 2025 MRE Karina For personal use only ASX:USL 22
Slide 23: Disclosure of Mineral Resources – Appendix A
Disclosure of Mineral Resources Appendix A Table 1. Cerro Leon – 2025 JORC (2012) Mineral Resources Category Tonnes AgEq (gpt) AgEq (Moz) Ag (gpt) Au (gpt) Pb (%) Zn (%) Ag (Moz) Au (Koz) Pb (Mlb) Zn (Mlb) For personal use only Indicated 9.4 190 57.8 95 0.54 0.57 0.95 28.9 165 119 199 Inferred 21.3
Slide 24: Disclosure of Mineral Resources – Appendix B
Disclosure of Mineral Resources Appendix B Table 2. Joaquin Project – Historical Foreign Estimate as of February 2013 Category Tonnes (Mt) Ag (gpt) Au (gpt) Ag (Moz) Au (Koz) AgEq (gpt) AgEq (Moz) For personal use only M&I 15.7 128 0.12 65.2 61.1 138 70.1 Inferred 1 100 0.12 3.1 3.7 110 3.3 Total 16
Slide 25: Disclosure: Exploration Target
Disclosure Exploration Target EXPLORATION RESULTS AND EXPLORATION TARGET The information in this announcement that relates to the PLUS 150 Exploration Target is mineralisation and type of deposit under consideration and to the activity being based on, and fairly reflects, information compiled by Mr
Slide 26: Access and Land Ownership
Access and Land Ownership For personal use only ASX:USL 26
Slide 27: Development Strategy
Development Strategy Underpinned by comprehensive historical metallurgical testwork JOAQUIN CERRO LEON Year 2009-2017 2010-2013 For personal use only Study Level PFS Scoping Method Cyanide leaching, Cyanide leaching floatation, and sulphuric and floatation acid leaching Total samples Variability tes
Slide 28: Unico Silver
Unico Silver ASX:USL For personal use only WEBSITE unicosilver.com.au INVESTOR PRESENTATION SEPTEMBER 2025
Unico Silver — Investor Presentation (September 2025) on 6ix