Silver Bull Resources, Inc. · TSX:SVB
Silver Bull Resources — Investor Presentation (November 2014)
35 slides from Silver Bull Resources's investor presentation, November 2014
Slide 1: Silver Bull Resources Corporate Presentation
SVBL: AMEX | SVBL: TSX | Web: www.silverbullresources.com
Slide 2: Forward Looking Statements
Forward Looking Statements Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated and Inferred Resources: This presentation uses the terms "measured resources", "indicated resources", and "inferred resources" which are defined in, and required to be disclosed by, NI 43-101. We
Slide 3: Capital Structure
Capital Structure CAPITALIZATION SHAREHOLDERS Shares Outstanding 159,072,657 Directors and Officers: 5.4% Warrants 12,643,500 Coeur D’Alene Mines Corporation: 10.9% Options 7,830,002 Lazarus Investment Partners: 9.0% Sprott, RBC Precious Metals: 3.5% Fully Diluted 179,546,159 Goodman, US Global: 1.5
Slide 4: Who We Are
Who We Are MANAGEMENT BOARD OF DIRECTORS TIM BARRY BRIAN EDGAR President, CEO & Director Chairman * Full management bios in Appendix SEAN FALLIS TIM BARRY Chief Financial Officer President, CEO & Director MARK PFAU DANIEL KUNZ VP Exploration Director BILL PENNSTROM DR. MURRAY HITZMAN Consulting Meta
Slide 5: Sierra Mojada
SIERRA MOJADA NORTHERN MEXICAN CARBONATE REPLACEMENT TYPE DEPOSIT (CRD) 5
Slide 6: Sierra Mojada: Resource Overview
Sierra Mojada: Resource Overview Sierra Mojada: scratching the surface on a northern Mexico Carbonate Replacement Deposit (“CRD”): Silver Resource: 163.6Moz Indicated @ 71.4g/t Ag (25g/t cutoff) Zinc Resource: 2.2Blbs Zn Indicated Project Location: Coahuila State, Northern Mexico 6
Slide 7: Regional CRD Occurrences
Regional CRD Occurrences Global Resource: 188Moz Ag + 5Blbs Zn (0g/t cuttoff) 7
Slide 8: CRD System – Idealized Geologic Model
CRD System – Idealized Geologic Model 8
Slide 9: Project Attributes
Project Attributes • Excellent infrastructure Railway to site Paved road Grid power 5 company owned water wells • Open pittable project with favorable ground conditions • Mining district with skilled labour force 9
Slide 10: Sierra Mojada PEA Highlights
Sierra Mojada PEA Highlights Sierra Mojada Project PEA Silver/Zinc Price Assumptions $23.50/oz Ag, $0.95/pound Zn Initial Capital Expenditures $297.2 million Estimated Life of Mine 18 years Avg Plant Throughput 8,500 tonnes per day Avg Silver Head Grade 73.39g/t Ag Avg Annual Silver Production 5.5 m
Slide 11: CAPEX/OPEX Breakdown
CAPEX/OPEX Breakdown Pre-Production Capital Costs$M Operating Cost $/tonne milled Pre-Stripping 10.9 Mining 11.03 Mining Equipment 10.5 Processing 11.55 Site Development 4.8 G&A 1.39 Crushing & Coarse Ore Stockpile 14.2 Leasing 2.57 Processing Plant 69.2 Total Operating Cost Tailings 9.4 26.54 (per
Slide 12: Economic Sensitivity (after tax)
Economic Sensitivity (after tax) 800 $745.2 60.0% 700 $658.7 50.0% 600 $528.8 After-tax NPV (millions) 40.0% 500 $399.0 NPV (5%) 400 33.0% 30.0% $312.4 30.1% IRR 300 25.5% $225.7 20.0% 20.7% 200 $135.3 17.5% 14.1% 10.0% 100 10.4% 0 0.0% $16 $18 $20 $22 $25 $28 $30 Silver Price 12
Slide 13: Project Strengths
Project Strengths NSR Zinc Cash Cost per ounce of Silver (Net of 28% Byproducts): Silver 72% $6.58/oz Avg Annual Operating Cashflow: Production Profile: • Years 1-5: 7 million ounces/year $92,000,000 • Year 2: 9.3 million ounces • Life of Mine – 5.5 million ounces/year 13
Slide 14: Sierra Mojada: Silver-Zinc Resource
Sierra Mojada: Silver-Zinc Resource N 14
Slide 15: Resource Profile
Resource Profile Silver Indicated Resource W E Cross section profile Zinc Indicated Resource Cross section profile 15
Slide 16: Open Pit Cross Section
Open Pit Cross Section Silver ore Zinc ore body body The economics of mining the Zinc Zone dramatically improve after mining out the silver resource 16
Slide 17: NI43-101 Indicated Resource
NI43-101 Indicated Resource Cut-Off Silver Grade Silver Ounces Zinc Grade Pounds Zinc Tonnage (Ag g/t) (g/t) (Moz) (%) (lbs) >100 g/t 13,553,000 170.1 74.1 1.59 476,081,000 INDICATED RESOURCE > 80 g/t 19,205,000 146.2 90.3 1.57 662,915,000 > 65 g/t 25,318,000 128.3 104.5 1.54 860,189,000 > 55 g/t 31
Slide 18: Drill Results Across Resource
Drill Results Across Resource 18
Slide 19: High Grade Starter Pit
High Grade Starter Pit sictrul RESOURCES, INC LEGEND ian" >100g/t Ag kz >25g/t Ag
Slide 20: Mining Flow Sheet
Mining Flow Sheet SART Operation Examples: Mining Company Project Location Kinross Maricunga Chile Newmont Yanacocha Peru Crush & Grind NWM Mining Lluvia de Oro Mexico Koza Gold Mastra Turkey VAT Leach Lachlan Star CMD Gold Mine Chile SART Cyanide Merrill Crowe SILVER Recovery 75% Regeneration (98%+
Slide 21: Near Resource Upside
NEAR RESOURCE UPSIDE 21
Slide 22: Drill Program Results
Drill Program Results March 1, 2013: Silver Bull Intersects 19.52% Zinc Over 22.85 Meters Including 47.59% Over 4.4 Meters January 31, 2013: Silver Bull Intersects 15.65% Zinc Over 43.55 Meters Including 20.26% Over 14.5 Meters November 15, 2012: Silver Bull Intersects 463.55g/t Silver Over 15.05 Me
Slide 23: Near Resource Extension Zones
Near Resource Extension Zones 23
Slide 24: Regional Exploration Upside
REGIONAL EXPLORATION UPSIDE 24
Slide 25: Regional Exploration Upside
Regional Exploration Upside 2 MAIN TARGETS OUTSIDE THE MAIN ZONE OF MINERALIZATION: DORMIDOS PALMOS NEGROS DORMIDOS & PALAMOS NEGROS SHALLOW SILVER ZONE HISTORICAL MINING AREAS WITH EXTENSIVE UNDERGROUND AND SURFACE WORKINGS: NEVER EXPLORED WITH MODERN TECHNIQUES NEXT STEPS BEYOND 2012 RESULTS FROM
Slide 26: Palamos Negros
X\ Palamos Negros Silver Bull RESOURCES, INC Approximate trace of Sierra Mojada Fault (black line) oO 20-40g/t Ag oii 33g/t Ag, 11.25% Pb,| = Cs) 10-20g/t Ag . : : = - ZB 0.7% Mo SS —— : . a 149g/t Ag, 2.02% Zn, 0.6% Pb Ss ~ DLE = Ba. 2 Silver Bull RESOURCES INC . Raia.
Slide 27: Dormidos
Dormidos Approximate trace of the Sierra Mojada Fault (black line) 1 ae 7% Zn, = ; . 111g/t Ag, 5.91% Zn, 10.3% Pb =) 8ig/t Ag, 11.25% Zn, im 2 4.6% Pb = a wo 29g/t Ag, 27.9% Zn, rene 1.21% Pb 63g/t Ag, 7.4% Zn, [% me 9.4% Pb —_ “. ; ; } y. Led aoe
Slide 28: Why Silver Bull?
Why Silver Bull? • Developing one of North America’s largest primary silver projects • Strong cash position – $4.5m • Highly favorable project economics • 100% of silver/zinc resource M&I – no additional drilling to incorporate in Pre-Feasibility Study • Significant resource & district upside • Infr
Slide 29: Appendix
APPENDIX SVBL: AMEX | SVBL: TSX | Web: www.silverbullresources.com
Slide 30: Conceptual Mine Plan
Conceptual Mine Plan silver su RESOURCES, INC Slurry Pipe ree B str Pe
Slide 31: Top 25 Silver Mines: CAPEX and Production Comparison
Company Project Country LOM CAPEX Peak Output Barrick Pascua Lama Chile/Arg 16,535 45 Project Allied Nevada Hycroft USA 4,185 29 CAPEX and Goldcorp Cerro Negro Argentina 2,667 4 Production Pan American Navidad Argentina 1,665 21.4 Comparison Silver Standard Pitarrilla Mexico 1,056 18 Tahoe Escobal G
Slide 32: Junior Silver Developers in Mexico
Junior Silver Developers in Mexico Comparables Based on Silver Resource Size & Grade 400,000,000 20 350,000,000 300,000,000 250,000,000 200,000,000 363,900,000 72 728 150,000,000 100,000,000 57 162,900,000 72 146,000,000 80 26 50,000,000 73 77,400,000 53,559,000 50,494,000 39,898,000 32,724,441 0 Le
Slide 33: Management Resumes
Management Resumes Tim Barry, CEO, President and Director - Mr. Barry is the President and CEO of Silver Bull Resources, Inc. Between September 2010 to March 2011, Mr. Barry served as Vice President of Exploration for Metalline Mining (now renamed to Silver Bull Resources), before stepping into the
Slide 34: Board of Directors - Resumes
Board of Directors - Resumes Brian Edgar, Chairman of the Board - Mr. Edgar was appointed Chairman of the Board of Directors in April 2010. Mr. Edgar has broad experience working in junior and mid-size level natural resource companies. He previously served as Dome's President and Chief Executive Off
Slide 35: Silver Bull Resources contact details
SVBL: AMEX | SVBL: TSX | Web: www.silverbullresources.com
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