Silver Storm Mining Ltd. · TSXV:SVRS
Silver Storm Mining — Investor Presentation (September 2026)
47 slides from Silver Storm Mining's investor presentation, September 2026
Slide 1: Unearthing Hidden Opportunity
Subscribe to Our News Releases Unearthing Hidden Opportunity Corporate Presentation September 2026 www.silverstorm.ca TSXV: SVRS | OTCQX: SVRSF | FSE: SVR TSXV:SVRS | OTCQX:SVRSF | FSE:SVR
Slide 2: Forward Looking Statements & Cautionary Notes
Forward Looking Statements & Cautionary Notes All statements, trend analysis and other information contained in this presentation about anticipated future events or results constitute New risks may emerge from time to time and the importance of current factors may change from time to time and it is
Slide 3: Cautionary Note to U.S. Investors
Cautionary Note to U.S. Investors National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) is a rule developed by the Canadian THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE Securities Administrators that establishes sta
Slide 4: Silver Storm Mining Ltd. Unearthing Hidden Opportunity
Silver Storm Mining Ltd. Unearthing Hidden Opportunity Operations Track Record of Significant Re-Rate Further Upside Achievement Potential Optionality Restart of operations at the Secured an offtake agreement Strong re-rate opportunity, as San Diego is one of the largest La Parrilla Silver Mine with
Slide 5: Silver Storm A Compelling Opportunity
Silver Storm A Compelling Opportunity Positioned on the Upward Trajectory of the Lassonde Curve Risks Fluctuating commodity prices Funding Risk HIGH Technical Risk VALUE Exploration Risk Discovery There is a tipping point in exploration when This is most likely the time when people outside drilling
Slide 6: Capital Structure
Capital Structure Strong Balance Sheet and Supportive Shareholder Base Capital Structure (as of September 01, 2026) Silver Storm Shareholders TSX-V Share Price (C$) $0.56 Insiders 2% Share Price (US$) $0.40 Shares Outstanding (#) 870.4 M E. Sprott 13% Warrants1 (#) 189.5 M First Options2 (#) 61.1 M
Slide 7: Samsung C&T Offtake Agreement
La Parrilla Samsung C&T Offtake Agreement Strategic Offtake Secured for Sale of Concentrates 100% Concentrate Offtake Secured CEO Statement “Samsung’s involvement as a guaranteed • Market Price 2.5-Year Offtake for all lead-silver purchaser reflects the confidence of a leading and zinc concentrates
Slide 8: Environment, Social Responsibility and Governance
Environment, Social Responsibility and Governance Focus on Community, Safety and the Environment Community Continue Developing a Strong Social License • Develop opportunities and skills in the community that go beyond La Parrilla Environmental Management System dependence of the mine • Serve the loc
Slide 9: Assets Based in Durango State
Assets Based in Durango State Operations with Attractive Exploration Upside Durango A Top Mexican Mining State Strong Mining Culture Chihuahua • Mining dates back to 1552 • Safe and supportive of mining with 23 mines currently in production • Strong in-country and local support Sinaloa Durango Coahu
Slide 10: La Parrilla Silver Mining Complex
La Parrilla Silver Mining Complex TSXV:SVRS | OTCQX:SVRSF | FSE:SVR 10
Slide 11: La Parrilla Silver Mining Complex (Ag-Au-Pb-Zn)
La Parrilla Silver Mining Complex (Ag-Au-Pb-Zn) Surface and Underground Infrastructure Supporting Restart of Operations District Scale Property • Large, underexplored 38,128 ha land package Developed Infrastructure ~US$150M Replacement Value • Three underground mining areas: Rosarios, San Marcos, an
Slide 12: Operations Restart: First Doré Poured
La Parrilla Operations Restart First Doré Poured • First pour of silver-gold doré completed in June 2026 as part of the commissioning process of the oxide processing circuit First silver-gold doré pour Silver-gold doré bar poured at La Parrilla TSXV:SVRS | OTCQX:SVRSF | FSE:SVR 12
Slide 13: Operations Restart: First Concentrate Shipment Completed
La Parrilla Operations Restart First Concentrate Shipment Completed • First shipment of lead-silver and zinc concentrates completed in July 2026 as part of the offtake agreement with Samsung C&T First concentrate shipment from La Parrilla Sulphide processing circuit TSXV:SVRS | OTCQX:SVRSF | FSE:SVR
Slide 14: Underground Mining Fleet & Ventilation
La Parrilla Underground Mining Fleet & Ventilation Mobile, Drilling and Ventilation Equipment Howden ventilation fan removing exhaust Siton underground haul trucks Siton underground scooptram air from underground Siton longhole production drilling rig Siton longhole jumbo development drill TSXV:SVRS
Slide 15: Mineral Resource Estimate
La Parrilla Mineral Resource Estimate Updated Resource for Silver Storm – SRK Consulting, as at December 31, 20241 La Parrilla – Mineral Resource Statement1,2 (165 g/t Ag.Eq oxide and 145 g/t Ag.Eq sulphide cut-off) Grade Contained Metal Category, Mineral Type, Quantity and Mine (kt) Silver (g/t) Go
Slide 16: Resources and Drilling Program
La Parrilla Resources and Drilling Program Low-Risk Resource Drilling to Facilitate Restart Plan Initial Silver Storm drilling program completed leading • Silver dominant resource to updated Mineral Resource Estimate ▪ ~64% of the Indicated and ~67% of the Inferred • 138 drill holes totaling 18,626
Slide 17: Quebradillas Mine
La Parrilla Quebradillas Mine 2023/2024 Drilling Program Accomplishments Quebradillas Mine – SVRS Drill Holes 1. C460 – Extended high-grade mineralization up to 138 m below last stope ▪ With higher grades and widths than previously mined in the area 2. Norte-Sur Zone – Extended 180 m below last stop
Slide 18: Rosarios Mine
La Parrilla Rosarios Mine 2023/2024 Drilling Program Accomplishments Rosarios Mine (Central Zone) –SVRS Drill Holes • Initial drilling program included 47 drill holes totaling 6,687 m 2024 Drillhole Previously Released 2024 Drillhole New • Drilling programs tested the east, west and Historical Drill
Slide 19: San Marcos Mine
La Parrilla San Marcos Mine 2023/2024 Drilling Program Accomplishments San Marcos – SVRS Drill Holes 2024 Drillhole SOUTH NORTH Ag.Eq g/t • 25 holes drilled totaling 2,882 m testing Historical Drillhole the extension of the San Marcos zone at Average grade g/t Ag.Eq / length m Surface depth San Marc
Slide 20: Resource Growth Plan
La Parrilla Resource Growth Plan 2026 Drilling Program to Support the Current Mine Plan by Growing Resources La Parrilla surface exploration targets 15,000 m Underground Drilling Program Underway • Commenced in January 2026, with 6,000 m of drilling planned initially (expanded by 9,000 m following s
Slide 21: Drilling Program
La Parrilla Drilling Program 15,000m Underground Drilling Program in Full Swing at La Parrilla Underground drilling at La Parrilla • Drill results released to date demonstrate significant resource growth potential • Highlighted intercepts1: ▪ 441 g/t Ag.Eq over 21.72 m, including 771 g/t Ag.Eq over
Slide 22: Advancing Towards Operations
La Parrilla Advancing Towards Operations Catalysts Restart of Operations Commenced in 2Q 2026 Accomplishments Underway / To Come ✓ Acquired 100% of La Parrilla in 2023 ✓ 18,626 m initial drilling program to grow the mineral ➢ Ramping up underground mining resource base near developed areas ➢ Ramping
Slide 23: San Diego Project
San Diego Project TSXV:SVRS | OTCQX:SVRSF | FSE:SVR 23
Slide 24: San Diego Project (Ag-Au-Pb-Zn)
San Diego Project (Ag-Au-Pb-Zn) Location + Size + Potential for Synergies with La Parrilla The Right Location San Diego – Geological and Property Map • 91.65 ha land package in the heart of the prolific Main Veins and Structures at Surface Velardeña Mining District ▪ 4 mining concessions 100% owned
Slide 25: San Diego Mineral Resource Estimate
San Diego Mineral Resource Estimate A Sizable Silver and Zinc Resource with Expansion Potential San Diego – Mineral Resource Estimate – SGS Canada, April 20131,2 Grade Contained Category, Mineral CoG Tonnes Type and Zone (g/t) (Mt) Gold Silver Lead Zinc Ag.Eq2 Ag Ag.Eq2 Indicated Resources (g/t) (g/
Slide 26: San Diego Resource Size Comparison
San Diego Resource Size Comparison One of the Largest Undeveloped Silver Projects in Mexico Ranking of the Largest Undeveloped Mexican Primary Silver Projects1 DSV - Cordero 1,403 EDR - Pitarrilla 817 SVRS– -San SVRS SanDiego Diego++Potential Potential2 390 VZLA - Panuco 371 SIND - Sinda 368 AMM - I
Slide 27: San Diego Geologic Model
San Diego Geologic Model Four Key Exploration Zones 1. 1849 Zone Geologic Model of the San Diego Project ▪ Broad zone of skarn mineralization with bulk tonnage potential 2. Fernandez Zone ▪ Broad intercepts of endoskarn mineralization with bulk tonnage potential 3. Montanez Zone ▪ Potential addition
Slide 28: San Diego Evolution of Geologic Model
San Diego Evolution of Geologic Model Grade Enhancement to Western Side & Up-Dip Mineralization 2020 Geologic Model1 2022 Geologic Model2 Silver Storm is focusing on exploration drilling closer to surface to establish open pit potential and connectivity with deeper mineralized system 1. Drill hole i
Slide 29: San Diego Fernandez Zone
San Diego Fernandez Zone Broad Intercepts, Bulk Tonnage Potential San Diego Phase 6 Drill Highlights From To Length Au Ag Pb Zn Ag.Eq1 Hole Zone m m m g/t g/t % % g/t Endoskarn 779.8 991.7 211.85 0.04 54.2 0.48 1.28 94.7 SD-12-47 Fringe 991.7 1004.4 12.7 0.02 31.7 0.26 1.26 65.3 SD-12-48 Endoskarn 6
Slide 30: San Diego 57 Target Discovery
San Diego 57 Target Discovery Confirms Open Pit Potential Above the Fernandez Zone • Hole 21-57 drilled 72 g/t Ag.Eq over 274 m commencing from surface • Historical database reviewed and several other holes identified in proximity with similar results • Dimensions of identified mineralization is 220
Slide 31: San Diego Work Program
San Diego Work Program On-Site Work to Drive Value at San Diego Outcropping Vein System Current Program • Soil sampling and ground geology • Investigations of outcropping veins • Identify targets for drilling Subject to Additional Funding • 5,000 – 10,000 m drilling program • Infill drilling to foll
Slide 32: The Silver Market
The Silver Market TSXV:SVRS | OTCQX:SVRSF | FSE:SVR 32
Slide 33: Why Silver?
Why Silver? The Unsung Hero of the New Economy Silver Market Balance1,2 • Silver demand is expected to remain strong, driven by physical investment and buildout of AI and power grid infrastructure 75 43 52 -762 • Demand is expected to be 4% greater than supply in 2026 15 11 Moz ▪ Supply of ~1.07 bil
Slide 34: Why Silver? Prices Likely to Remain Higher for Longer
Why Silver? Silver Prices Likely to Remain Higher for Longer • US Push for Critical Minerals ▪ New policies to secure supply chains and reduce import reliance ▪ Silver designated a critical mineral • China’s Export Controls ▪ Restrictions on critical minerals impacting global supply ▪ Silver designa
Slide 35: An Essential Metal for New Technologies and the Low Carbon Economy
Why Silver? An Essential Metal for New Technologies and the Low Carbon Economy • Silver is a key component in green energy, automotive, and semiconductor/electronics industries ▪ Primarily used in electronics and electrical, including solar photovoltaic cells, circuitry, battery connectors, cables a
Slide 36: Most Silver is Mined as a By-Product
Why Silver? Most Silver is Mined as a By-Product Silver Mine Production1 1,000 Silver mine supply has been flat for ~10 years 800 • 600 • Global mined silver production is expected to remain Moz Ag flat year-over-year in 2026 400 200 - • Marginally higher silver prices unlikely to increase silver su
Slide 37: Current Environment Has Provided Historically Strong Silver Returns
Why Silver? Current Environment Has Provided Historically Strong Silver Returns • Silver responds exceptionally well following peaks in the Gold / Silver ratio1 • The silver:gold correlation has increased since 2015 after decoupling in the first half of the 2010’s2 SVRS provides excellent leverage t
Slide 38: The Gold-Silver Ratio Has Averaged Approximately 65:1
Why Silver? The Gold-Silver Ratio Has Averaged Approximately 65:1 Over the Past 30 Years • Following a period of dramatic silver price increases over the last 12 months, the gold-silver price ratio is currently at 67:1 (30-year historical average price ratio is 65:1) ▪ Continued shortages in global
Slide 39: Appendix
Appendix TSXV:SVRS | OTCQX:SVRSF | FSE:SVR 39
Slide 40: La Parrilla History
La Parrilla History Production History Dating Back to 1956 A Pillar of the Community for Over 60 Years • The first underground silver-gold-lead mines and processing facilities were constructed in 1956 • Several small mines were operated by Minera Los Rosarios (MLR) until 1999, when they were put on
Slide 41: Mining at Depth
Mining at Depth 1 In Durango and Zacatecas, Mining Well Beyond 300 m Below Surface Is Common Parral, Endeavour Silver • Ag.Eq Resources: 44.9 Moz Chihuahua • Mineralized veins up to 600 m Pitarilla, Endeavour Silver Guanacevi, Endeavour Silver • Ag.Eq Resources: 1,358 Moz • Ag.Eq Reserves: 17.6 Moz
Slide 42: La Parrilla Historic Operations
La Parrilla Historic Operations 34.3 Moz Ag.Eq Produced Between 2006 and 2019 Under FMS Ownership1 • ~642,000 tonnes processed annually at a grade of 147 g/t Ag (from 2012 - 2018) • 2.37 Moz of average annual silver production; 3.52 Moz silver equivalent (~67% Ag + 33% Pb/Zn) • Cash costs during thi
Slide 43: La Parrilla Historic Operations
La Parrilla Historic Operations 3.5M Ag.Eq. Oz Produced at Avg. CC of $8.46/Ag.Eq from 2012 to 2018 (NoC) La Parrilla Historic Production and Costs1 Production & Costs Units 2012 2013 2014 2015 2016 2017 2018 Average Ore processed/milled tonnes 679,788 788,335 711,915 667,702 610,509 543,985 491,637
Slide 44: Regional Exploration
La Parrilla Regional Exploration Large Land Package with Very Little Historical Work • Current Mineral Resource footprint La Parrilla Silver in Soil Samples (2019-2020) covers less than 790 ha (2%) of the West and Southwest of Mining Area land package • Recent property surveys ▪ Titan IP survey over
Slide 45: Mineral Resource Estimate Notes
La Parrilla Mineral Resource Estimate Notes Notes for the Mineral Resource Estimate for La Parrilla as described in the ‘Independent Technical Report for the La Parrilla Silver Mine, Durango State, Mexico’, prepared by SRK Consulting, dated March 24, 2025 and available under the Company’s profile on
Slide 46: San Diego Mineral Resource Estimate Notes
San Diego Mineral Resource Estimate Notes Notes for the Mineral Resource Estimate for San Diego as described in the ‘NI 43-101 Technical Report: Updated Mineral Resource Estimate San Diego Project, Velardeña Mining District, Durango State, Mexico’, prepared by SGS Canada, with an effective date of A
Slide 47: Bay Adelaide Center - East Tower 22 Adelaide St West, Suite 2020
Bay Adelaide Center - East Tower 22 Adelaide St West, Suite 2020 Toronto, ON M5H 4E3 Canada +1 (416) 504-2024 info@silverstorm.ca www.silverstorm.ca TSXV: SVRS | OTCQX: SVRSF | FSE: SVR TSXV:SVRS | OTCQX:SVRSF | FSE:SVR
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