Slide 1: Sun Silver Limited – Investor Presentation, Mining Forum Americas
SUN SILVER LIMITED Maverick Springs Silver-Gold Project, Nevada, USA ASX: SS1 INVESTOR PRESENTATION – MINING FORUM AMERICAS September 2025
Slide 2: Important Information
IMPORTANT INFORMATION Not a disclosure document The purpose of this presentation is to provide general information about the Company and the Maverick Springs Project (Project) only. This presentation is not a disclosure document for the purpose of Chapter 6D of the Corporations Act 2001 (Cth) (Corpo
Slide 3: Largest Pre-Production Primary Silver Project on the ASX
LARGEST PRE-PRODUCTION PRIMARY SILVER PROJECT ON THE ASX JORC INFERRED MINERAL RESOURCES ESTIMATE 480 Moz Silver Equivalent at 68.29 g/t 296 Moz 2.16 Moz Silver at 42.20 g/t Gold at 0.31g/t (1) Refer to Appendix A and the Company's ASX announcement dated 26 March 2025 for further details regarding t
Slide 4: Corporate Summary
Corporate Summary Transformational A$30m placement completed in July 25 Placement led by Leading Global Institutions CAPTIAL STRUCTURE ASX: SS1 Existing Shares on Issue 178.1m Market Capitalisation (close price 16-Sep A$1.01) A$179.9m Cash (30-Jun-25 plus A$30m Placement proceeds) A$38.9m Enterprise
Slide 5: Board and Management
BOARD AND MANAGEMENT Andrew Dornan Shaun Hardcastle Dean Ercegovic Nathan Marr Keith Wood Managing Director Non-Executive Chair Non-Executive Director Non-Executive Director Exploration Manager Andrew is a seasoned mining Shaun has a distinguished legal Founding Director and Chief Nathan is a qualif
Slide 6: Re-assay Program Deliver +20% Silver Grades
RE-ASSAY PROGRAM DELIVER +20% SILVER GRADES Historical pulp re-assay program results demonstrate consistent uplift in mean silver grades across initial holes tested1: ~25% higher silver grades overall ~22% uplift for silver grades between 10 g/t and 100 g/t ~26% uplift for silver grades >100g/t Up t
Slide 7: Drilling Ongoing at Maverick Springs
DRILLING ONGOING AT MAVERICK SPRINGS • Two Drill rigs onsite with a third currently being mobilised • Drilling to remain ongoing through to late Q4 2025 and continue throughout 2026 • Infill drilling targeting substantial increase to indicate across entire resource area currently ~2.4km in length an
Slide 8: Maverick Springs – The Largest Pre-Production Primary Silver Project on the ASX
MAVERICK SPRINGS – THE LARGEST PRE-PRODUCTION PRIMARY SILVER PROJECT ON THE ASX1 300 250 200 M Oz silver 150 100 50 0 Maverick Bowdens Maronan Kempfield Paris Silver Sorby Hills Wonawinta Cerro Bayo Cerro Leon Sala Copalqui Springs SVL MMA ADR project BML MKR ASL USL AQI MTH SS1 IVR With a Silver-on
Slide 9: Maverick Springs – Long Section
MAVERICK SPRINGS – LONG SECTION 9 (1) For previously released drillhole intercepts refer to ASX announcements dated 12 September 2024, 24 September 2024, 14 January 2025, 26 March 2025 and 2 July 2025.
Slide 10: Widespread Antimony Throughout
WIDESPREAD ANTIMONY THROUGHOUT • Historic multi-element re-assay program demonstrates consistent Sb results throughout mineral resource zone, intercepts include1: - MR065 – 66m at 0.12% Sb from 161m including 23.71m at 0.23% Sb from 181m with 1.5m interval 1.74% Sb - MR103 – 59m at 0.10% Sb from 189
Slide 11: Maverick Springs – Metallurgy Ongoing
MAVERICK SPRINGS – METALLURGY ONGOING Activity Objective Parameters Rationale Understand the relationship between Perform bottle roll tests on diamond-drilled master Previous testwork (2002 & 2006) showed silver recovery is strongly Coarse Particle Cyanide Leach Testing particle size and recovery fo
Slide 12: Maverick Springs – Forward Work Plan
MAVERICK SPRINGS – FORWARD WORK PLAN* Activity Forecast Timeline Outcome Diamond drilling for metallurgical samples Commenced and ongoing Provide representative feed for testing Reprocessing of historical core looking identifying suitable zones for Met Testing Commenced and ongoing Provide represent
Slide 13: Potential Catalysts – Maverick Springs
POTENTIAL CATALYSTS – MAVERICK SPRINGS • Consistent drill results throughout the remainder 2025 into 2026 – (90 Drill pad locations approved) • Maiden near surface Mineral Resource targeted • Metallurgical test work results • Multiple increases to Mineral Resource targeted: 1. Increase silver grade
Slide 14: Growth via Consolidation, Resource Growth & Asset Confidence
GROWTH VIA CONSOLIDATION, RESOURCE GROWTH & ASSET CONFIDENCE Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Resource Extensional Drilling Infill Drilling Metallurgical Testwork Historical Re-assay Program Baseline Environmental Surveys Internal PEA / Scoping Study Scoping Study / PEA Development Permitting
Slide 15: Thank You
Thank You Contact Information: Investor Relations: Andrew Dornan Nicholas Read Managing Director Read Corporate A: 288 Railway Parade, West Leederville, WA, 6007 T: +61 (08) 9388 1474 W: sunsilver.com.au E: nicholas@readcorporate.com.au E: info@sunsilver.com.au
Slide 16: Appendix A – Maverick Springs Mineral Resource
Appendix A – Maverick Springs Mineral Resource Classification Cut-off (g/t AgEq) Tonnes AgEq (Moz) AgEq (g/t) Ag (Moz) Ag (g/t) Au (Moz) Au (g/t) Inferred 30 218,541,000 479.8 68.29 296.5 42.2 2.16 0.31 (1) Maverick Springs Mineral Resource estimated in accordance with the Australasian Code for Repo
Slide 17: Appendix B – External Resources
Appendix B – External Resources Measured Indicated Inferred Size Grades Contained Ag Resource Deposit Country Operator Index Stage Year Standard Source (Mt) (Mt) (Mt) (Mt) (Ag g/t) (Moz) Category https://www.sunsilver.com.au/maverick-springs Maverick Springs USA Sun Silver SS1 Pre-Development 0.0 0.