Southern Silver Exploration Corp. · TSXV:SSV
Southern Silver Exploration — Investor Presentation (January 2024)
22 slides from Southern Silver Exploration's investor presentation, January 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 January, 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 PEA Highlights Corporate Highlights Company Catalysts (pending News Flow) Silver Projects in the World New Mineral Resource Update •
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 (Jan. 8, 2024) C$0.155 Current Shares Outstanding 292M 1 Options 24.5M 2 Warrants 51.2M Fully Diluted Shares Outstanding 367M Market Capitalization (basic) C$45M Cash & Cash Equivalents C$2
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: PEA Highlights
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: Modelled LOM Production
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 – TC-RCs/Gold 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: Resource Expansion
Cerro Las Minitas Resource Expansion Three High-grade Shoots Now Defined on the Eastern Side of the Cerro Mineralization Remains Open at Depth www.southernsilverexploration.com www.southernsilverexploration.com 16 TSX-V: SSV OTCQX: SSVFF
Slide 17: 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 18: Next Steps
Cerro Las Minitas Next Steps Work on the Cerro Las Minitas project over the coming months will continue to de-risk the project and add further value in preparation for the next stage of assessment ESG - Continuing on the Pathway to Production Technical Opportunities to Upgrade the Project • Permitti
Slide 19: 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 20: Oro and Hermanas Projects: Assets Overview
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 21: Why Southern Silver
Why Southern Silver Diverse Assets Catalysts Ongoing Property Package with PEA Results Updated PEA for Q1 ’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 22: Southern Silver Notes
Southern Silver Notes www.southernsilverexploration.com www.southernsilverexploration.com 22 TSX-V: SSV OTCQX: SSVFF
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