Silver Mines Limited · ASX:SVL
Silver Mines — Shareholder Meeting (November 2021)
34 slides from Silver Mines's shareholder meeting presentation, Nov 26, 2021
Slide 1: Annual General Meeting Presentation
Annual General Meeting Presentation 26th November 2021
Slide 2: Disclaimer
Disclaimer The material in this presentation contains certain forecasts and forward-looking information, including regarding possible or assumed future performance or potential growth of Silver Mines Limited (“SVL”). Such information is not a guarantee of future performance and involves unknown risk
Slide 3: Silver Mines Limited Introduction
Silver Mines Limited Introduction Key Assets Capital Structure (ASX: SVL) AUD USD The Bowdens Silver Project is located in central New South Wales, Australia. Shares on Issue (m) 1,291.8 1,291.8 The consolidated project area comprises 2,007km2 (490,000 acres) of titles covering approximately 80k
Slide 4: Silver Mines Limited Progress
Silver Mines Limited Progress Recent Highlights Silver Mines Limited Share Price Graph 0.40 Lodgement of the Environmental Impact Statement and 0.35 Development Application for the Bowdens Silver mine 0.30 development. 0.25 Final submission processes almost complete for 0.20 Independent Planning
Slide 5: Bowdens Silver Project: Overview
Bowdens Silver Project: Overview Highlights Timeline of Major Milestones The largest silver development project in Australia, and September 2017 Mineral Resource complete (275 Moz AgEq) one of the largest globally, with a current JORC-compliant Resource base of 275Moz AgEq. May 2018 Ore Reserve co
Slide 6: Lachlan Fold Belt Geology
Bowdens Silver Project: Lachlan Fold Belt Geology • The Ordovician Macquarie Arc/Lachlan Fold Belt of Eastern Australia contains preserved porphyry volcanic arc environments. • Macquarie Arc of NSW contains world-class; – Cadia/Ridgeway, – Cowal, – Northparkes and others • The Bowdens portfolio demo
Slide 7: Regional Geology
Bowdens Silver Project: Regional Geology • Extensive tenement holding (2,007 km2 = 496,000 acres) controlled by Silver Mines. • Wide range of prospective deposit types over different time periods (Ordovician, Siluro-Devonian, Carboniferous and Permian). • Permian Rylstone Volcanics consisting of rhy
Slide 8: Geology
Bowdens Silver Project: Geology Silver-zinc-lead-gold colloform and breccia vein Silver-zinc-lead upper Bowdens Zinc-lead-silver-gold-copper deeper Bowdens 9
Slide 9: Mine Geology
Bowdens Silver Mine Geology 10
Slide 10: Drilling
Bowdens Silver Project: Drilling RC Diamond Total CRAE Holes 33 5 38 Metres 3,318 962 4,280 Silver Standard Holes 317 48 365 Metres 34,051 7,843 41,894 Kingsgate Holes 118 34 152 Metres 13,102 5,525 18,627 Silver Mines Holes 114 112 226 Metres 18,009 40,180 58,189 Total Holes 582 199 781 Metres 68,4
Slide 11: Site Layout
Bowdens Silver Project: Site Layout 12
Slide 12: Study Work
Bowdens Silver Project: Study Work Unit 2018 Upside Case2 2018 Base Case1 Physical Metrics Production Life Years 16.5 16.5 Ore Mined Mt 29.9 29.9 Waste Mined Mt 48.2 48.2 W:O Strip Ratio x 1.60 1.60 Ag Recovered in Concentrate Moz 52.91 52.91 Zn Recovered in Concentrate kt 108.0 108.0 Pb Recovered i
Slide 13: Approvals Timeline
Approvals Timeline WE ARE HERE 14
Slide 14: Project Water Optimisation
Project Water Optimisation • Pipeline from the Ulan coalfields to provide “make-up” water for our processing plant at Bowdens Silver. • Pipeline was to provide up to ~18% of water requirements over the life-of-mine. • Optimisation of our mine site water infrastructure including recycling has reduced
Slide 15: Community Support
Community Support ‘Support Object Responses: 1 504 Obi Support| Responses: 363 Proportion: 79% Responses: 387 Responses: 1 139) Proportion: 2496 A Proportion: 20% Proportion: 73% | A el —_, Comment comment Responses: 15 Responses: 18 Proportion: 1% Proportion: 1% —— All Responses - 1909 New South Wa
Slide 16: Silver Uses
Silver Uses Dentistry PHOTOGRAPHY DATITERIES Air-conditioners BURNS TREATMENT Jewellery AND WOUND DRESSING Water purification — silver Mobile Phones ions are replacing chlorine in water . . filtration in hospitals, schools and Washing machines public pools. . Highest electrical and thermal Mirrors c
Slide 17: : | | | me . — Samsung SMHIART TV
: | | | me . 7 — 7 Samsung SMHIART TV Thea FS Fa WATER PURIE | ICATION:
Slide 18: Silver Uses and Market
Silver Uses and Market • Silver is the best electrical and thermal conductor among metals. Silver Price (USD/oz) 60.0 • Demand for silver is currently 50.0 benefiting from new applications in USD Silver Price ($/oz) photovoltaic cells (for solar panels), 40.0 electric vehicles, electronics, water 30
Slide 19: Exploration: A Major Silver System
Bowdens Silver Exploration A Major Silver System 20
Slide 20: Extensions
Bowdens Silver Project: Extensions • Northwest Zone, Aegean and Bundarra Zones contains high- grade silver directly under the planned open cut pit. • Current drilling is demonstrating that the Northwest and Aegean Zones are likely to be connected. • Each of the three discoveries open in several dire
Slide 21: Extensions (Cont’d)
Bowdens Silver Project: Extensions (Cont’d) 22
Slide 22: Extensions (Cont’d)
Bowdens Silver Project: Extensions (Cont’d) CURRENT DRILLING BD21042 23
Slide 23: Extensions (Cont’d)
Bowdens Silver Project: Extensions (Cont’d) Drill Hole DB211042 New intercept to the south and 50 metres below the Bundarra Zone 24
Slide 24: Expanded Program and Scoping Study
Expanded Program and Scoping Study • Recent drilling at the Northwest, Aegean and Bundara Zones has demonstrated considerable high- grade potential immediately beneath the proposed open-pit mine development • 30,000 metres diamond drilling focussed on three discovery zones below the planned open-cut
Slide 25: Key Conclusions
Bowdens Silver Project: Key Conclusions Considerable exploration potential at the Bowdens Silver Project, with extensive drilling (30,000 metres with 4 The largest silver development project in Australia, and one diamond rigs) underway and confirmed significant high-grade of the largest globally
Slide 26: Other Exploration Assets
Other Exploration Assets ~e 27 — MINES LIMITED
Slide 27: Barabolar Project: Unlocking a Major Mineralised System
Barabolar Project: Unlocking a Major Mineralised System • Barabolar Project area located 10 kilometres northwest of Bowdens • 9000 x 2000 metre corridor of base-metal and precious metal soil anomalies • Mineralised skarn mapped over 5000 by 800 metres • Porphyry system type alteration assemblages •
Slide 28: Tuena Gold Project
Tuena Gold Project • Located south of Blayney in New South Wales. • Historic goldfield with minimal exploration work in the modern era. • Clear geological analogies to the McPhillamys Gold Project (2.0 Moz gold). • Mineral system and old gold workings extend over at least 6 kilometres of strike. • R
Slide 29: Anthony McClure, Managing Director
Anthony McClure Managing Director Silver Mines Limited +61 2 8316 3997 30
Slide 30: Appendix 1 – Bowdens Silver Resource
Appendix 1 – Bowdens Silver Resource (as at September 2017) 30 g/t Ag Eq Cut Tonnes Silver Eq. Silver Zinc Lead Million Million (Mt) (g/t) (g/t) (%) (% ) Ounces Ounces Silver Silver Eq. Measured 76 72 45 0.37 0.25 111 175 Indicated 29 59 31 0.38 0.25 29 55 Measured & Indicated 105 68 41 0.37 0.25 14
Slide 31: Appendix 2 - Bowdens Silver Resource
Appendix 2 - Bowdens Silver Resource (as at September 2017) Cut off g/t Ag Eq Tonnes Silver Eq. Silver Zinc Lead Million Million (Mt) (g/t) (g/t) (%) (% ) Ounces Ounces Silver Silver Eq. 0 397.2 30.7 17.6 0.18 0.12 225 392 10 261.7 43.7 25.2 0.26 0.17 212 368 20 185.2 54.6 31.7 0.32 0.21 189 325 30
Slide 32: Bowdens Silver Resource Grade Tonnage Curve
Bowdens Silver Resource 200 180 160 140 Grade (g/t) 80 60 40 20 33 120 Bowdens Silver Project Grade Tonnage Curve September 2017 100 Cut Off Grade 2a 60 30 30 —eSilver Equivalent —Silver 20 40 60 80 100 120 Tonnes (Mt) 140 Y»y SILVER MINES LIMITED
Slide 33: Appendix 3 – Bowdens Silver Ore Reserve
Appendix 3 – Bowdens Silver Ore Reserve (as at May 2018) Tonnes Silver Silver Zinc Lead Silver Silver Zinc Lead (Mt) Eq. (g/t) (%) (% ) Eq. Million Kilo- Kilo- (g/t) Million Ounces tonnes tonnes Ounces Proved 28.6 102.2 69.75 0.44 0.32 93.85 64.05 125.11 91.43 Probable 1.3 84.4 53.15 0.43 0.29 3.60
Slide 34: Competent Persons Statements
Competent Persons Statements Ore Reserve The information in this report that relates to Ore Reserves within the Bowdens Silver Project is based on information compiled or reviewed by Mr Adrian Jones of AMC Consultants Pty Ltd who is a consultant to the Company. Mr Jones is a member of the Member of