Investigator Silver Limited · ASX:IVR

Investigator Silver — Investigator Resources — NWR Communications Virtual Resources Conference 2020

14 slides from Investigator Silver's conference presentation, Nov 19, 2020

1. Slide 1: Paris – Australia's highest grade Silver project

   For personal use only NWR Communications INVESTIGATOR RESOURCES Virtual Resources Conference LIMITED 19 November 2020 Paris – Australia’s highest grade Silver project Andrew McIlwain ASX : IVR Managing Director 1

2. Slide 2: Disclaimer and competent person statement

   Disclaimer and competent person statement For personal use only DISCLAIMER The information in this presentation is published to inform you about Investigator Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements

3. Slide 3: What do you need to know about Investigator?

   What do you need to know about Investigator? For personal use only • ASX listed – IVR • Absolute leverage to Silver price • Paris Silver Project – South Australia: • 100% IVR owned • 42Moz Ag + 55kt Pb - JORC (2012) Resource • Regional exploration potential • South Australia & Tasmania • Experienced

4. Slide 4: Corporate Capital Structure - at Nov 2020

   Corporate Capital Structure - at 17 Nov 2020 ASX code - listed 2007 IVR Shares - ordinary 1,136M For personal use only Options – IVROA - listed1 183M Options - unlisted2 31M Performance Rights3 15M Source: Stocknessmonster Share Price 6.8c 12 Month range 0.8c to 6.9c Market Cap $77.3M Cash (*unaudit

5. Slide 5: Paris resource history and growth

   Paris Silver Project • 2011 - discovery For personal use only • 2013 - Maiden resource: • 5.9Mt @ 110g/t Ag, 0.6% Pb for 20Mozs Ag + 38kt Pb (@30g/t Ag cutoff) • 2015 - Resource: • 8.8Mt @ 113g/t Ag, for 33Mozs (@50g/t Ag cutoff) • tonnes & Ag ozs +60% • 2017 - Resource: • 9.3Mt @ 139g/t Ag, 0.6% Pb

6. Slide 6: Infill drilling program

   Paris Silver Project – Infill drilling program For personal use only • Initial program: • Commenced September 2020 • 15,000m of RC drilling • 700m of diamond drilling • Aim: • convert Inferred to Indicated Resource • 2017 Resource: • Inferred – 5.0Mt @ 119g/t Ag • Indicated – 4.3Mt @ 163g/t Ag • Tot

7. Slide 7: Infill drilling program – cont. (early results)

   Paris Silver Project – Infill drilling program – cont. Early results: For personal use only • Line 8.25 • 7m @ 551g/t Ag from 52m in hole PPRC478 • 10m @ 328g/t Ag from 59m in hole PPRC479, incl; • 6m @ 503g/t Ag from 61m • 7m @ 251g/t Ag from 79m in hole PPRC482, incl; • 1m @ 1,320g/t Ag from 52m •

8. Slide 8: Infill drilling program – cont.

   Paris Silver Project – Infill drilling program – cont. For personal use only • Early drill results supported objectives • Potential to extend resource to south • Added 5,500m to infill program • Total infill program now 20,500m • 18,200m drilled to date • ~3,400 samples in laboratory • Estimated 15,

9. Slide 9: PFS plan

   Paris Silver Project – PFS plan For personal use only • Mincore – PFS Study Managers • Confirmatory met testwork commenced • Flowsheet optimisation • Infrastructure – power, water, access and camp • Capex & Opex • Resource estimation • Open pit mine design & scheduling • Economic evaluation • PFS co

10. Slide 10: The highest grade undeveloped silver project in Australia

    Paris….the highest grade undeveloped silver project in Australia For personal use only 10

11. Slide 11: Regional Exploration

    Paris – Regional Exploration For personal use only 7 Targets within 5kms of Paris • 6,000m RC drilling • 2nd RC rig on site by end of Nov Helen • 110g/t Ag rock chip – best ever • 7m @ 531g/t Ag (prev. drilling) • 6 holes ~1,100m Argos • Gravity & magnetic structure along strike from Paris • 12m @ 6

12. Slide 12: Other Tenements – South Australia

    Other Tenements – South Australia For personal use only Uno/Morgans • Similar structural setting to Paris • 2021 exploration focus Stuart Shelf • IOCG potential • DGO Gold JV: • $6.35M 3-year Earn-In for 75% • Preparing to drill this year • Sediment hosted copper Folwer – ELA’s • 2 application areas

13. Slide 13: IVR – In Summary

    IVR – In Summary For personal use only • Silver exposure – Paris…..highest grade primary undeveloped Ag project in Australia • PFS due June 2021 • Board with significant experience and broad range of skills • Experienced team with project knowledge and operational skillset • Regional exploration tar

14. Slide 14: Thank you

    For personal use only Thank you Contact: Andrew McIlwain Managing Director Investigator Resources Limited 18 King Street Norwood SA 5067 Phone: +61 8 7325 2222 Email: amcilwain@investres.com.au Silver gaining on gold - retreating gold:silver ratio 14

Investigator Resources — NWR Communications Virtual Resources Conference 2020 on 6ix