Southern Silver Exploration Corp. · TSXV:SSV
Southern Silver Exploration — Investor Presentation (April 2024)
24 slides from Southern Silver Exploration's investor presentation, April 2024
Slide 1: Developing the Cerro Las Minitas Project into the Next Major Silver Mine in Mexico
Developing the Cerro Las Minitas Project into the Next Major Silver Mine in Mexico Corporate Presentation April, 2024 SSV: TSX-V SSVFF: OTCQX www.southernsilverexploration.com www.southernsilverexploration.com TSX-V: SSV OTCQX: SSVFF
Slide 2: Forward Looking Statements and Technical Disclosure
Forward Looking Statements and Technical Disclosure Some of the statements contained in this presentation may be deemed “forward-looking All mineral resources have been estimated in accordance with Canadian Institute of Mining and statements.” These include estimates and statements that describe the
Slide 3: Investment Highlights
Investment Highlights Focused on developing the Cerro Las Minitas (CLM) Ag-Cu-Pb-Zn project located in Durango, Mexico One of the Largest and Highest Grade Undeveloped 2022 PEA Highlights Corporate Highlights Company Catalysts (pending News Flow) Silver Projects in the World New Mineral Resource Upd
Slide 4: Cerro Las Minitas: One of the Largest and Highest Grade Undeveloped Silver Assets
Cerro Las Minitas One of the Largest and Highest Grade Undeveloped Silver Assets in the World 2023 Mineral Resource Estimate (as of March 22nd, 2023 using a $60NSR/t cut-off)1; Indicated – 140Moz AgEq 42.7Moz Ag, 446Mlb Cu, 364Mlb Pb and 903Mlb Zn Inferred – 210Moz AgEq: 80Moz Ag, 101Mlb Cu, 571Mlb
Slide 5: Capital Markets Profile
Capital Markets Profile Capital Structure Share Price and Volume (Last 24 Months) Ticker TSX-V:SSV Share Price (Apr. 11, 2024) C$0.22 Current Shares Outstanding 292M 1 Options 24.5M 2 Warrants 51.2M Fully Diluted Shares Outstanding 367M Market Capitalization (basic) C$64M Cash & Cash Equivalents C$1
Slide 6: Management Team and Board
Management Team and Board Experienced Mine Finders with a History of Success in Mexico Lawrence Page (LL.B, KC) • Director and Officer of a number of public prominent exploration and mining companies President, Director • Major Projects and Mines involvement: Penasquito, Mexico; Hemlo and Eskay Cree
Slide 7: Project Portfolio
Project Portfolio District Scale Exploration & Development Cerro Las Minitas, Durango, Mexico – Flagship • 100% owned • Silver-enriched Skarn/CRD deposits • +US$35M spent on acquisition and exploration since 2011 • UPDATED RESOURCES and GOLD METALLURGY • Further Upside on both Exploration and Engine
Slide 8: Infrastructure and Access
Cerro Las Minitas Infrastructure and Access Well Located in an Active Exploration and Development Jurisdiction Knowledgeable and Supportive Local Community with Superior Infrastructure • Safe jurisdiction, around non-narcotic related agriculture • Exploration permits in place • Located 70km NE of Du
Slide 9: Looking North from the Autopista (Highway)
Cerro Las Minitas Looking North from the Autopista (Highway) www.southernsilverexploration.com www.southernsilverexploration.com 9 TSX-V: SSV OTCQX: SSVFF
Slide 10: Site Geology and Deposit Distribution
Cerro Las Minitas Site Geology and Deposit Distribution A classic Ag-Pb-Zn CRD/Skarn system similar to major polymetallic Seven deposits make up the current Mineral Resources Mexican deposits • Mineralization is localized in sub-vertical structures and on dyke margins in • A Central Monzonite acts a
Slide 11: 2023 Resource Estimate
Cerro Las Minitas 2023 Resource Estimate 2023 Mineral Resource Estimate (as of March 22, 2023 using a US$60/t NSR cut-off); • Indicated – 140Moz AgEq 42.7Moz Ag, 46Mlb Cu, 364Mlb Pb and 903Mlb Zn (349g/t AgEq; or US$130 NSR/t) • Inferred – 210Moz AgEq: 80.0Moz Ag, 101Mlb Cu, 571Mlb Pb and 1,029Mlb Z
Slide 12: Project Economics
Cerro Las Minitas Project Economics Higher Margin Mineralization Targeted in the First Eight Years of PEA Highlights – Effective Aug 29, 2022 Production Leading to Improved Economics. 15yr Mine Life Robust Project Economics • Base Case1: after-tax NPV5% of US$349M (C$450M, C$1.55/share), IRR of 17.9
Slide 13: Project Economics
Cerro Las Minitas Project Economics Modelled LOM Production: 24.5 Mt @ 0.2% Cu, 1.1% Pb, 2.6% Zn, Robust AgEq Production which Peaks in Year 8 110g/t Ag, 0.09g/t Au - Average NSR of $US 128/t Large-Scale Underground Mining Operation • Modelled LOM Production: 24.5 Mt @ 0.2% Cu, 1.1 % Pb, Additional
Slide 14: Potential Economic Updates
Cerro Las Minitas Potential Economic Updates The PEA has modelled robust annual average cashflow particularly in the first eight years of mine-life. New work will focus on increasing free cash flow within the current model Adding Additional Resources: Process Flow-sheet – Gold-Copper Metallurgy: • N
Slide 15: Project Economics – Sensitivities
Cerro Las Minitas Project Economics – Sensitivities • Base Case NPV5% = $349M • The project NPV5% shows greatest sensitivity to: ― silver and zinc metal prices, ― then silver and zinc metal recoveries, and ― then OpEx and Initial Capital Sensitivity NPV @ 5%, after Tax (US$M) Silver in Pb Zinc Sensi
Slide 16: New Discoveries and Resource Expansion
Cerro Las Minitas New Discoveries and Resource Expansion Drilling has now identified a 1200 metre strike-length of mineralization on the East side of the Cerro • Three mineralized “Shoots” identified on the eastern side of the Cerro • Mineralization is open at depth for further resource expansion •
Slide 17: UV/XRF analyses as a means to better define drill targeting
Cerro Las Minitas UV/XRF analyses as a means to better define drill targeting Theory • Mn (and other elements) form wide halos around carbonate hosted mineral deposits • Mineral are captured in secondary calcite veins and altered host rock • Used to evaluate “roll-front” Au-targets in Nevada and CRD
Slide 18: UV/XRF Studies and Drill Targeting
Cerro Las Minitas UV/XRF Studies and Drill Targeting North Felsite Long-Section with Resource Blocks and Calcite Fluorescence • This work was successful in highlighting higher grade lenses within the of the South Skarn, Mina La Bocona and North Felsite deposits • “Pink Fluorescence” may be associate
Slide 19: Resource Expansion
Cerro Las Minitas Resource Expansion New Drill Targeting Highlights a Pathway to Expand Resources on the Eastern Side of the Cerro • New Drilling is planned for 2024 which will target Resource Expansion in the Eastern Deposits • Initial Drilling will focus on shallow gaps in the existing deposits an
Slide 20: Next Steps and Technical Opportunities
Cerro Las Minitas Next Steps and Technical Opportunities Work on the Cerro Las Minitas project continues to de-risk the project and add further value Resource Expansion ESG - Continuing on the Pathway to Production Technical Opportunities to Upgrade the Project Economics • Permitting parameters - es
Slide 21: Oro and Hermanas Projects
Oro and Hermanas Projects Assets Overview US Exploration Southern continues to advance two earlier stage projects in southern New Mexico, giving the shareholder additional exposure to copper, gold and silver ➢ Oro Project • Large Laramide Cu-Mo-Au Porphyry system ➢ Hermanas • Widespread Au-Ag epithe
Slide 22: Oro and Hermanas Projects
Oro and Hermanas Projects Assets Overview The Company has Identified Favorable Targets to Provide Investors an Exposure to Copper, Gold and Silver Oro Property Hermanas Project, Southern New Mexico • 100% owned by SSV • Newly optioned from Bud and Nick Hillemeyer and Perry Durning • +22.4 sq. km pro
Slide 23: Why Southern Silver
Why Southern Silver Diverse Assets Catalysts Ongoing Property Package with PEA Results Updated PEA for Q2 ’24 CLM: Surface Exploration Exposure to both Highlights Robust Asset CLM: New Drilling and Targeting Precious and Base/EV Value of the CLM Project Hermanas: Drilling 2024 Oro: New Targeting Met
Slide 24: Southern Silver Notes
Southern Silver Notes www.southernsilverexploration.com www.southernsilverexploration.com 24 TSX-V: SSV OTCQX: SSVFF
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