Silver Mountain Resources, Inc. Class A · TSX:AGMR
Silver Mountain Resources, Inc. Class A — Investor Presentation (November 2026)
20 slides from Silver Mountain Resources, Inc. Class A's investor presentation, November 2026
Slide 1: Silver Mountain Resources: Production Ramp Up at Reliquias
SILVER MOUNTAIN RESOURCES PRODUCTION RAMP UP AT RELIQUIAS C O R P O R AT E P R E S E N TAT I O N / N O V E M B E R 2 0 2 6 TSX: AGMR | OTCQB: AGMRF | BVL: AGMR TSX: AGMR | OTCQB: AGMRF | BVL: AGMR CORPORATE PRESENTATION | 1
Slide 2: Disclaimer
DISCL AIMER IMPORTANT – YOU MUST READ THE FOLLOWING BEFORE CONTINUING Technical Report in its entirety, including all assumptions, parameters, qualifications, limitations and methods factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. The informat
Slide 3: Newest Silver Producer in Central Peru
N ewest Silver P roducer In Centra l Per u AgMR’s Reliquias/Caudalosa complex is part of a larger Castrovirreyna District - strategically Yanacocha located in the Huancavelica Region of Central Peru. (Newmont) Antamina Atacocha • Production commenced at Reliquias U/G mine and we continue to aggressi
Slide 4: Investment Highlights
Investment High ligh ts Reliquias Mine Operating Cash Flow Significant Brownfield Currently Producing to Fund Expansion Exploration Potential Silver 1.13 Moz / yr Caudalosa Resource Optionality3 Extensive Growth Potential Gold 2.0 Koz / yr Copper 750 t / yr Zinc 6,500 t / yr Lead 4,700 t / yr 1. Ref
Slide 5: Cash Flow Engine for Regional Development
Ca sh f low Engine for Regiona l Development “Hub and Spokes” setup to fill the existing mill and advance multiple brownfield deposits to production Reliquias Mine1 - Now Producing Lithocap ▪ Cash flow engine, ramping up to 800 tpd in 2027 Cu Porphyry ▪ Ore trucked 19km to existing Caudalosa process
Slide 6: Existing Resources with Growth Potential
Existing Resources 1 with Growth Potentia l Reliquias Mine Caudalosa Mine (43-101 Resource) (Historical Resource) The Reliquias Mine offers potential for significant resource Numerous outcropping veins within the large 60,000-hectare expansion through future drilling, possibility of extending known
Slide 7: Silver-Dominated Polymetallic Orebodies
Silver - Domina ted Poly meta llic O rebodies 1 M I N E R A L VA L U E D I S T R I B U T I O N 2 3 RELIQUIAS CAUDALOSA Copper Lead 3.1% Zinc 4.1% Lead 5.2% 7.7% Copper Lead 10.6% Gold 8.0% 9.2% Zinc 9.9% Zinc Silver Silver Silver 15.3% 64.7% Copper 82.7% 62.8% 16.6% 1. Silver equivalent values and v
Slide 8: Reliquias Production to Fund Caudalosa Startup and Colquicuntur Exploration
Reliquia s P roduction to Fund Ca uda losa Sta r tup a nd Colquicuntur Explora tion 1 Near Term Current Advanced Greenfield Production Production Exploration Exploration Upside Reliquias Mine Caudalosa Mine Colquicuntur Target Dorita, El Milagro, Q3’26 production start at Hosts a historical Large po
Slide 9: Recent and Upcoming Milestones
1 Recent and Upcoming Milestones RELIQUIAS PROJECT 2026 2027 TASKS Q1 Q2 Q3 Q4 H1 H2 Start of Mining Development Start of Major Plant Maintenance Mined Ore Stockpile Plant Commissioning Start of Mine & Plant Production Reliquias Infill Drilling Results Update PEA Update Commercial Production 43-101
Slide 10: Reliquias – Currently Producing, in Ramp-Up
Reliquia s 1 – Currently P roducing, in Ra mp -U p Underground Mine well-equipped and with key permits in place, strategically supported for success. • Commercial production expected in H1 2027 • Over 30 km of known veins and 20 km of fully rehabilitated underground tunnels. • Paved road access from
Slide 11: Silver & Polymetallic Production Profile - LOM
1 Silver & Poly meta llic P roduction P rofile - LO M RELIQUIAS MINE 2 2 YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 1. Refer to the full text of the Reliquias Technical Report for the assumptions, qualifications and limitations relating to the Reliquias Project 2. The 1st year of production comprises 1
Slide 12: Mine Plan & Treatment
M i n e P l a n & Tre a t m e n t Plan View by Zones ZONE 6 PER ZONE 5 MTS - W ZONE 7 ZONE 1 AYA - W MTS - E ZONE 8 ZONE 2 VUL SOR ZONE 3 PAS SCS - W1 BEA AYA - E ZONE 4 SCS - W2 MTC- W1 MTC - E PZR ZONE 9 MTC - W2 ZONE 12 SCS - C Production starts in ZONE 13 ZONE 11 SCS: Sacasipuedes vein zones 1,
Slide 13: Significant Exploration Upside
Significa nt Explora tion Upside 1 Reliquias Underground Lithocap Carmelas Cu Porphyry • Potential mineral resources distributed over 10 Poetas veins. Colquicuntur • Excellent mineral upside and life-of-mine Bonanza potential. Candelaria Paulinita Caudalosa Mine Caudalosa - Poetas Corridor Seguridad
Slide 14: Regional Comparison of Silver Mining Districts
Regiona l Compa r ison of Silver Mining Distr icts TSX: AGMR | OTCQB: AGMRF | BVL: AGMR CORPORATE PRESENTATION | 14
Slide 15: Reliquias Infill Drilling Program – Phase 1
1 Reliquia s Infill Dr illing P rogra m – P h a se 1 • Infill drilling phase results (~7,000m)2 support the Reliquias Reliquias Infill Drilling Phase Highlights3 mine plan. SMR-194-26-SCS (TOMAYCALLA and SACASIPUEDES SPLAY veins) • Designed to improve confidence in the mine plan and focused • 0.90 m
Slide 16: Caudalosa Exploration Identifies Near-Surface Mineralization
Ca uda losa Explora tion Identifies N ea r -Sur fa ce 1 Minera liza tion • The 2026 drilling focused on exploring the Near-Surface Caudalosa – Candelaria 1RA Vein – Long Section (Looking NE) targets to the north and south of the historical resource area and confirmed mineralization continuity. • The
Slide 17: Colquicuntur
Colquicuntur TA R G E T H I G H L I G H T S Potential for copper Greenfields Opportunities Beyond The Reliquias Mine porphyry targets at depth. Reliquias Block consists of over 20,000 hectares 1 of highly prospective mineral concessions surrounding Several breccia events identified to date. the Reli
Slide 18: Capital Structure and Shareholder Base
Ca pita l Str ucture a nd Sh a reh older Ba se 6 2.1% As of O c t o b e r 31, 2026 2.2% 2.3% Shares Outstanding 64.9M 1 2.8% Stocks Options 0.9M 2.8% Warrants 2 20.3M 3.1% RSUs 3 0.4M 3.8% Eric Sprott 4.6% Market Capitalization4 C$ 182M Other Cash Position 5 C$ 18.7M Other 59.5% 5.8% 54.7% 11% 1. St
Slide 19: Directors & Management
Director s & Ma na gement Directors Jose Vizquerra, Chairman Former President & CEO at O3 Mining. Former Exc. VP of Strategic Development for Osisko Gerardo Fernandez, Independent Director Mining Former Head of BD for Cia. de Minas Buenaventura. Former Production and Broad experience in several lead
Slide 20: Silver Mountain Resources
S I LV E R M O U N TA I N R E S O U R C E S W W W. A G M R . C A
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