Slide 1: Corporate Presentation
CORPORATE PRESENTATION March 2014 SSRI:NDAQ | SSO: TSX 1
Slide 2: Cautionary Notes
Cautionary Notes Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and “forward looking information” within the meaning of Canadian securities laws (collectively
Slide 3: Our Business Portfolio
Our Business Portfolio San Luis del Cordero 9 Marigold 7 6 7. Maverick 5. Berenguela 4. Diablillos Springs 2 2. Pitarrilla 8 Exploration Development Production 1. Pirquitas 8. San Marcial 3. San Luis 3 5 9. Sunrise Lake 6. Candelaria 1 4 San Agustin Challacollo Snowfield Bowdens Brucejack Balanced g
Slide 4: Marigold: Established Gold Mine
MARIGOLD ESTABLISHED GOLD MINE SSRI:NDAQ | SSO: TSX 4
Slide 5: Marigold Mine: Upgrades our Portfolio
Marigold Mine: Upgrades our Portfolio Acquisition for $275M in cash Continuous production since 1988 Open pit, run-of-mine heap leach operation Twin Creeks Goldstrike Adds operating cash flow and reserves MARIGOLD Maverick Springs Phoenix Cortez Improves operating and political risk profil
Slide 6: Marigold Mine: Production and Financial Profile
Marigold Mine: Production and Financial Profile 180 150% $1,000 $200 162 $914 154 144 $784 $776 137 Earnings from Operations ($M) $750 $150 $678 Total Cash Cost ($ / oz) Gold Ounces Produced (koz) 120 100% Gold Recoveries (%) 73% 73% 73% 73% $101 $500 $92 $100 60 50% $47 $44 $250 $50 0 0% $0 $0 (5)
Slide 7: Marigold Mine: Focused on Margins
Marigold Mine: Focused on Margins $1,600 $1,503 Mine optimization plan Utilize large scale mining $1,200 $589 $1,167 equipment for lowest cost $253 material mined $914 Cash Costs ($ / oz) $800 Mine plan adjustments for lower strip, higher grade to $914 improve margin $400 Detailed review of
Slide 8: Marigold Mine: Roadmap
Marigold Mine: Roadmap Q1 2014 Q2 2014 Q3 2014 Q4 2014 Integration Close Transaction Drilling Campaign NI 43-101 Announce File Report Resource Estimate NI 43-101 Announce File Report Technical Report Analyst Tour Planned approach to integration and future SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 8
Slide 9: Silver Standard: Enhanced Reserve Profile
Silver Standard: Enhanced Reserve Profile Silver Equivalent (1) Pro Forma Silver Equivalent Mineral Reserves Mineral Reserves Argentina Peru 9% 4% Argentina 14% USA 34% Peru 3% Mexico 54% Mexico 82% Total: 583M AgEq oz Total: 879M AgEq oz Lower geopolitical risk Note: Silver equivalent mineral reser
Slide 10: Silver Standard: Production Profile
Silver Standard: Production Profile 20.0 17.9 18.0 16.0 Silver Equivalent Production (Moz) 14.0 12.0 Marigold 10.0 8.2 Pirquitas 8.0 6.0 4.0 2.0 0.0 2013 2013 Pro Forma (2) Doubles production at no dilution Note: Silver equivalent production calculated using only silver and gold ounces produced. Gol
Slide 11: Pirquitas: Large Open-Pit Silver Mine
PIRQUITAS LARGE OPEN-PIT SILVER MINE SSRI:NDAQ | SSO: TSX 11
Slide 12: Pirquitas Mine: Focused on Delivery
Pirquitas Mine: Focused on Delivery (3) 2013 2014 Guidance Deliver predictable performance 8.2 – 8.6M oz Ag production Completed transition to Phase 2 of 25 – 30M lb Zn production the San Miguel open pit $12.50 – $13.50 / oz cash cost (4) Achieved production of 8.2M oz Ag (per payable ou
Slide 13: Pitarrilla: Going Forward
Pitarrilla: Going Forward Focused on lower capital, underground development mine Pitarrilla Retain future option for large Durango, Mexico open pit mine SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 13
Slide 14: San Luis: Dual Option to Value
San Luis: Dual Option to Value Going forward N Ecash community agreement progressing Drilling the Bonita Zone (2014) Ecash Community Cochabamba agreement extended (2Q13) Ayelén Vein EIA approved (3Q12) Consolidated interest (3Q11) San Simon Vein Feasibility study (2Q10) Bonita Zone Coc
Slide 15: Silver Standard: Pro Forma Liquidity
Silver Standard: Pro Forma Liquidity Cash $416 Plus: Marketable Securities $186 Total Cash and Marketable Securities $602 Less: Acquisition Cost ($275) Less: Transaction Costs ($4) Total Costs ($279) Available Liquidity $323 All figures are in millions of U.S. dollars. Financial capacity for the fut
Slide 16: Management Team and Board of Directors
Over 500 Years of Experience Management Team John Smith Gregory Martin Alan Pangbourne John DeCooman President, CEO SVP and Chief SVP, Projects VP, Business Development and Director Financial Officer and Strategy Andrew Sharp Ed Kirwan Kelly Stark-Anderson VP, Technical VP, Environment and VP, Legal
Slide 17: Key Goals for 2014
Key Goals for 2014 Successfully integrate and optimize Marigold Advance operational excellence at Pirquitas Define development pathways for San Luis and Pitarrilla Maintain strong balance sheet and cost discipline Focus on growth opportunities Elements for success SSRI:NASDAQ SSRI:NDAQ ||S
Slide 18: Building Strength
BUILDING strength SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 18
Slide 19: Pirquitas Mine: Overview and Opportunities
Pirquitas Mine: Overview and Opportunities 100% owned and operated silver and zinc mine In commercial production since December 2009 Focus on operational excellence Contracts, operational performance, people Lower strip ratio going forward Benefitting from Argentine peso devaluation Pirq
Slide 20: Pirquitas Mine: Pit Transition
Pirquitas Mine: Pit Transition Oploca Potosí San Miguel Pit Legend Phase 1 Pit Phase 2 Pit Pit at Sep. 30, 2013 Ore SSRI:NASDAQ SSRI:NDAQ ||SSO: SSO:TSX TSX 20
Slide 21: Development Project Portfolio
Development Project Portfolio Pitarrilla Feasibility Study Results San Luis Feasibility Study Results (December 2012) (June 2010) 32-year life: 479M oz Ag reserves 3.5-year life: Underground mine Avg. production: 15M oz Ag (1st 18 years) Avg. annual 1.9M oz Ag production: 78,000 oz Au Cash
Slide 22: Mineral Reserves
Mineral Reserves (as at December 31, 2013) Mineral Reserves Metal grade Contained metal Tonnes Silver Gold Lead Zinc Silver Gold (mil.) (g/t) (g/t) (%) (%) (mil. oz) (mil. oz) Proven 7.1 208.0 - - 0.55 47.3 - Pirquitas Probable 2.9 179.0 - - 1.28 16.6 - Stockpiles (a) 1.1 125.0 - - 1.39 4.5 - Pitarr
Slide 23: Mineral Resources: Measured & Indicated
Mineral Resources: Measured & Indicated (as at December 31, 2013) Measured & Indicated Mineral Resources (inclusive of Mineral Reserves) Metal grade Contained metal Tonnes Silver Gold Lead Zinc Copper Silver Gold (mil.) (g/t) (g/t) (%) (%) (%) (mil. oz) (mil. oz) Measured 7.9 210.0 - - 0.35 - 53.2 -
Slide 24: Mineral Resources: Inferred
Mineral Resources: Inferred (as at December 31, 2013) Inferred Mineral Resources Metal grade Contained metal Tonnes Silver Gold Lead Zinc Copper Silver Gold (mil.) (g/t) (g/t) (%) (%) (%) (mil. oz) (mil. oz) Pirquitas 5.4 162.0 - - 2.38 - 28.3 - Pitarrilla 22.1 62.1 - 0.21 0.49 - 44.1 - San Luis 0.0
Slide 25: Reserves & Resources: Notes to Tables
Reserves & Resources: Notes to Tables All estimates of Mineral Reserves and Mineral Resources in the Mineral Reserves and Mineral Resources tables have been prepared in accordance with National Instrument 43-101—Standards of Disclosure for Mineral Projects (“NI 43-101”) and have been reviewed and ap
Slide 26: Reserves & Resources: Notes to Tables
Reserves & Resources: Notes to Tables Diablillos Mineral Resources estimate was completed in a technical report entitled “Technical Report on the Diablillos Property-Salta and Catamarca Provinces, Argentina” dated July, 2009. Mineral Resources are reported above a recoverable metal value (“RMV”) cut
Slide 27: Presentation Endnotes
Presentation Endnotes All amounts are in U.S. dollars unless otherwise stated. 1) Refer to slides entitled “Mineral Reserves”, “Mineral Resources” and “Reserves & Resources: Notes to Tables”. 2) 2013 production at Marigold of 162,000 ounces of gold, as disclosed by Goldcorp in its public filings, co
Slide 28: Corporate Presentation
CORPORATE PRESENTATION SSRI:NDAQ | SSO: TSX 28