Guanajuato Silver Company Ltd. · TSXV:GSVR
Guanajuato Silver — Investor Presentation (August 2025)
25 slides from Guanajuato Silver's investor presentation, Aug 5, 2025
Slide 1: Mexico's Fastest-Growing Silver & Gold Producer
Mexico´s Fastest-Growing Silver & Gold Producer : GSVR : GSVRF August 2025
Slide 2: Mexico – The Top Silver Producing Country
Mexico – The Top Silver Producing Country Mexico holds the dominant share of the world’s silver market. 24% 14% Mexico 12% Peru China 119Moz 200Moz 107Moz 5% 5% Chile Poland 42Moz 42Moz Source: Statista.com / Kitco.com 2023 Bullion 2
Slide 3: Consolidating the Guanajuato Mining District
Consolidating the Guanajuato Mining District Employing 100% Mexican mining expertise. 3
Slide 4: Guanajuato
Guanajuato Mexico’s premier mining community. 4
Slide 5: Most silver is produced as by-product
Most silver is produced as by-product Therefore: Higher silver prices may not lead to increased supply. Primary Gold 16% Silver Only 26% Silver Production by Source Copper 25% Metal Lead & Zinc Other 32% 1% * World Silver Survey 2024 – The Silver Institute. 5
Slide 6: Silver & Gold Production
Silver & Gold Production Guanajuato Silver is a genuine precious metals producer. 6
Slide 7: Silver Supply vs Demand
Silver Supply vs Demand Global demand exceeded supply in 2024 for fourth consecutive year.* * World Silver Survey 2024 – The Silver Institute. 7
Slide 8: Silver Demand
Silver Demand Each new gigawatt of solar power requires ~500,000 silver ounces. 19% Solar Industrial 39.3% Bullion 17.4% 17.3% Jewelry 4.8% Silverware 2.1% Source: World Silver Survey 2024 – The Silver Institute Photography 8
Slide 9: Silver Demand & Solar Capacity
Silver Demand & Solar Capacity “You could power the entire United States with 200 square kilometers of solar panels.” --- Elon Musk 2014 9
Slide 10: Mexico's Fastest-Growing Silver Company
Mexico’s Fastest-Growing Silver Company Currently Six Mining Production Areas. Purchased Acquired three Restarted the Added production Added production Cubo Mine. additional mines. Cata mill. from Horcon. from Pinguico. 10
Slide 11: Annual Production
Annual Production Revenue increasing year over year. Silver equivalents are calculated using 84.48:1 (Ag/Au), 0.03:1 (Ag/Pb) and 0.05:1 (Ag/Zn) ratio for 2024, and 82.91:1 (Ag/Au), 0.04:1 (Ag/Pb) and 0.05:1 (Ag/Zn) ratio for 2023, and 83.22:1 (Ag/Au), 0.05:1 (Ag/Pb) and 0.07:1 (Ag/Zn) ratio for YTD
Slide 12: Positive Economics
Positive Economics Record revenue and record mine operating income in Q1 2025 12
Slide 13: The El Cubo Mines Complex
The El Cubo Mines Complex The centerpiece of our hub & spoke mining strategy. 2024 Production: 1,117,251 AgEq ounces - 470,914 silver ounces - 7,589 gold ounces 45,000 tonnes/month processing capacity. El Cubo Mines Complex & Pinguico Resource Total Measured & Indicated: 3.9M AgEq ounces (429kt grad
Slide 14: Valenciana Mines Complex
Valenciana Mines Complex Cata Mill – 36,000 tonnes/month capacity. 2024 Production: 639,449 AgEq ounces - 261,012 silver ounces - 4,446 gold ounces 450-year mine history. Valenciana Mines Complex(i)(ii) Total Measured & Indicated: 3.2M AgEq ounces (251,666 tonnes grading 400g/t AgEq) Total Inferred:
Slide 15: San Ignacio Mine
San Ignacio Mine Mineralized material sent to the Cata mill for processing. 2024 Production: 446,670 AgEq ounces - 174,572 silver ounces - 3,190 gold ounces A primary gold mine. San Ignacio Total Measured & Indicated: 7.62M AgEq ounces (790,000 tonnes grading 300g/t AgEq) Total Inferred: 22.17M AgEq
Slide 16: Recent San Ignacio Drill Results
Recent San Ignacio Drill Results New high-grade gold zone established – News Release July 22, 2025 San Ignacio Plan View Diamond drillholes #6 through #9 were drilled to the west towards the Santo Nino zone from the recently completed 430 ramp. Development work has been initiated to access this new
Slide 17: Topia Processing Plant
Topia Processing Plant 7,500 tonnes/month capacity flotation facility. 2024 Production: 1,117,904 AgEq ounces - 719,414 silver ounces - 1,329 gold ounces - 3,901,785 pounds of zinc - 3,231,921 pounds of lead High grade silver-lead and silver-zinc veins. Topia(i)(ii) Total Measured & Indicated: 11.1M
Slide 18: The Market Opportunity
The Market Opportunity One-Year Share Performance. Common Shares (Pro forma) 483 M Major Shareholders Warrants 76 M Options & RSUs 30 M Fully Diluted 589 M Market Cap C$146 M Myrmikan Capital 18
Slide 19: The GSilver Leadership Team
The GSilver Leadership Team James Anderson, Chairman & CEO, Director Richard Silas, VP Corporate Development, Director 20+ years of capital market experience as a retail 20+ years of experience in corporate governance, broker and investment banker and manager in the regulatory compliance, and the ad
Slide 20: Extensive social outreach programs
Extensive social outreach programs Social license to operate built on commitment to improving local communities. Guanajuato Silver proudly provides: • Clean water services provided to several local communities • Established a medical clinic and permanent comprehensive health campaigns. • Committed t
Slide 21: Total Resources
Total Resources* El Cubo Mines Complex & Pinguico Total Measured & Indicated: 3.9M AgEq ounces (429kt grading 283.9g/t AgEq) Total Inferred: 35.6M ounces (3,711kt grading 298.5g/t AgEq) Valenciana Mines Complex(i)(ii) Total Measured & Indicated: 3.2M AgEq ounces (251,666 tonnes grading 400g/t AgEq)
Slide 22: Resource source information
EL Cubo Source: For additional details refer to the technical report dated January 15, 2025 (effective date August 1, 2024) titled “NI 43-101 Technical Report On The El Cubo And El Pinguico Silver Gold Complex, Guanajuato, Mexico” available on SEDAR+ Economic assumptions used include US$25/oz Ag, US
Slide 23: DISCLAIMER 1/2
DISCLAIMER 1/2 Forward-looking information This document contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, statements regarding the industrial case for silver and future demand for silver; that the Company
Slide 24: DISCLAIMER 2/2
DISCLAIMER 2/2 Valenciana Disclosure The disclosure on this slide is from the technical report dated March 7, 2024 (effective date December 31, 2023) titled “Technical Report on the Valenciana Mine Complex, Guanajuato, Mexico” available on SEDAR+ (the “VMC Report”). On February 28, 2022, Great Panth
Slide 25: Contact
Contact JJ Jennex Director of Communications (604) 723 1433 jjj@gsilver.com Suite 578 – 999 Canada Place, Vancouver, British Columbia, V6C 3E1 : GSVR : GSVR
Guanajuato Silver Company — Investor Presentation (August 2025) on 6ix