Unico Silver Limited · ASX:USL
Unico Silver — Australian Gold Conference 2025
28 slides from Unico Silver's conference presentation, Oct 14, 2025
Slide 1: The Next Tier-One Silver Development Company
Unico Silver ASX:USL For personal use only The Next Tier-One Silver Development Company Australian Gold Conference, 14 October 2025 INVESTOR PRESENTATION OCTOBER 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: Strategic Pillars
Strategic Pillars VISION Resource Growth Development Macro tailwinds & (BEYOND 300) Pathway Jurisdiction Track record - growth through (PLUS 150) acquisition and exploration For personal use only Initial focus on pit-constrained Strong silver prices meets • Joaquin acquisition (Aug-24) scarcity of n
Slide 4: Corporate Snapshot
Corporate Snapshot Share Price 1 year 0.8 Mineral resources on 510M Total shareholder Shares a per-share basis returns 0.7 Up 785% Up 598% $0.62 Total AgEq ounces 37.5M only 0.6 Since 2H 2023 per USL share Cash (AUD) 0.5 **Pro-forma cash balance as of 30 June 2025 plus proceeds of $25m placement ann
Slide 5: 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 6: Logical consolidation of underexplored, undercapitalised silver district
Logical consolidation of underexplored, undercapitalised silver district TIMELINE PROVEN MINING CAMP Thoughtful consolidation For personal use only Located in Cerro Vanguardia mining district proximal of two fragmented silver to supporting infrastructure (roads, grid power), districts suppliers and
Slide 7: Substantial Increase to Global Resources
Substantial Increase to Global Resources Successful execution of BEYOND 300 resource growth strategy Joaquin • 16.7Mt at 136gpt AgEq for 74 Moz • Includes 4Moz of historical For personal use only production by Pan American Silver (2019-2021) • ~30,000m of drilling to support revised MRE (first updat
Slide 8: New Discoveries
New Discoveries Step-out holes at La Negra and La Morocha delivered broad, shallow oxide intercepts – open in all directions JDD017-25 Oxide mineralisation La Negra SE For personal use only JDD025-28: 69m at JDD017-25 90m at 40gpt Ag, 1.3gpt Au from 10m, inc 177gpt AgEq from 124m 4m at 20gpt Ag, 8.7
Slide 9: La Negra SE
La Negra SE Follow up drilling confirms grade and thickness, continues to expand scale Follow up drilling recommenced Sep-25 Over 1.3km of extensions defined beyond current For personal use only Foreign Estimate MRE. 4 of 9 drill holes have returned Grade Thickness intercepts exceeding 10,000 GT Gra
Slide 10: La Negra Extension
La Negra Extension First systematic drilling of southeast extension since project consolidation La Negra SE Cross Section La Negra SE Long Section For personal use only Mineralisation open at depth La Negra Feeder Target Visible (native) silver and gold in deep drilling ~190m downhole (JDD056- Infil
Slide 11: Exploration and Development Milestones
Exploration and Development Milestones For personal use only COMPLETE UNDERWAY 1H 2026 (2H 2025) Regional consolidation 30,000m exploration MRE Update (Cerro Leon / Joaquin acquisitions) and infill drill program Pre-Feasibility Study (PLUS 150) 30,000m exploration and Joaquin MRE RIGI qualification
Slide 12: 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 13: PLUS and BEYOND
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 14: Drilling to Drive Resource Growth
Drilling to Drive Resource Growth CY2025 drill campaign (50,000m) at all time 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 18,96
Slide 15: 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 16: 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 17: 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 18: 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 19: Access and Land Ownership
Access and Land Ownership For personal use only ASX:USL 19
Slide 20: 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 30,000m 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 onl
Slide 21: 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 22: Cerro Leon: September 2025 MRE - Marta Centro
Cerro Leon: September 2025 MRE Marta Centro For personal use only ASX:USL 22
Slide 23: Cerro Leon: September 2025 MRE - Marta Norte
Cerro Leon: September 2025 MRE Marta Norte For personal use only ASX:USL 23
Slide 24: Cerro Leon: September 2025 MRE - Marta Este
Cerro Leon: September 2025 MRE Marta Este For personal use only ASX:USL 24
Slide 25: 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 21.6
Slide 26: 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 27: 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 28: Unico Silver
Unico Silver ASX:USL For personal use only WEBSITE unicosilver.com.au INVESTOR PRESENTATION OCTOBER 2025