Slide 1: Growing Production. Expanding Resources. Creating Value.
TSX.V: SICO OTCQB: SICOF GROWING PRODUCTION. EXPANDING RESOURCES. CREATING VALUE. SEPTEMBER 2026 SILVERCOMINING.COM
Slide 2: Disclaimer
DISCLAIMER The information provided in this presentation is not intended to be a comprehensive review of all matters Technical Disclosure concerning Silverco Mining Ltd. (the “Company”), and should be read in conjunction with all other disclosure documents of the Company available on the Company’s w
Slide 3: Why Silverco?
WHY SILVERCO? VISION: CREATE A 10M + OZ/YR SILVER PRODUCER IN NEXT 3 YEARS Tier 1 Experienced Jurisdictions Team Rapid Undervalued Production Relative to Growth Peers TSX.V: SICO 3
Slide 4: Our Team
OUR TEAM DEEP EXPERTISE IN INTERNATIONAL MINING AND MEXICO SILVER SECTOR Management Board and Advisors Mark Ayranto, President, CEO & Director Gary Brown, Director Leaders Mining Executive with history of success in building and +35 years of experience, leading high-performing mining organizations.
Slide 5: Corporate Structure
CORPORATE STRUCTURE WELL FUNDED TO EXECUTE ON VISION SICO SICOF Founders and Retail TSX:V OTCQB 7% Insiders Eric 12% Sprott 54.4 M 61.4 M 11% Shares Outstanding2 Fully Diluted Shares Outstanding2 C$9.91 C$53.6 M Share Price1 Cash2 C$539 M C$501 M Institutional + High Market Capitalization1,2 Enterpr
Slide 6: Near-Term Cashflow
NEAR-TERM CASHFLOW TARGETING EXITING 2026 WITH TWO PRODUCING MINES Near-Term Current La Negra Execute on improvements Producing at 55% of 2,500 Mine to increase capacity by end tpd nameplate capacity of H1 2027 Current Near-Term Cusi Mining Mine and mill restart Targeting first concentrate Complex u
Slide 7: Strong Foundation for Growth
STRONG FOUNDATION FOR GROWTH COMBINED POTENTIAL TO DELIVER SIGNIFICANT GROWTH AND SILVER EXPOSURE1 +700% Production Growth1 Annual Production (Moz AgEq) 160% 6.0 73% Silver Revenue 1 Silver Revenue (%) 140% 120% H2 2026-2030 4.5 100% Average Peak 3.0 73% 74% 74% 80% 70% 5.7 Moz AgEq2/yr 7.3 Moz AgEq
Slide 8: Significant Valuation Gap
SIGNIFICANT VALUATION GAP OPPORTUNITY FOR SUBSTANTIAL RE-RATE THROUGH OPERATIONAL EXECUTION Trading at bottom of silver peers on P/NAV and 2027E P/CF First Majestic Silver Corp. 2.4x GoGold Resources Inc. 26.9x Hecla Mining Company 2.0x Highlander Silver Corp. 19.2x Coeur Mining, Inc. 1.5x Hecla Min
Slide 9: Discounted to Mexican Peers
DISCOUNTED TO MEXICAN PEERS SILVERCO TRADES AT A +60% DISCOUNT TO SUB 10MOZ PEERS 900 13, 895 4,500 813.2 800 700 600 Market Cap (C$M) EV/2027 AgEq oz 3,000 493.6 500 60% discount to average EV/2027E ozAgEq of C$331/oz 400 367.1 332.3 300 1,500 240.1 199.3 200 120.9 100 83.4 0 0 GSVR-TSXV SM-TSXV SI
Slide 10: Leveraged to Silver Price
LEVERAGED TO SILVER PRICE CONSOLIDATED PRODUCTION PLACES SILVERCO IN TOP QUARTILE FOR SILVER EXPOSURE 120% 100% 80% 60% 100% 40% 78% 73% 67% 57% 55% 55% 47% 44% 20% 41% 20% 0% Aya Gold & Silver Americas Gold and Silverco Mining Endeavour Silver Hecla Mining Andean Precious First Majestic Avino Silve
Slide 11: Leveraged to Silver Price
LEVERAGED TO SILVER PRICE COMBINED NPV GROWS $150M FOR EVERY $10/OZ INCREASE IN SILVER PRICE 1,800 1,600 Every $10/oz increase in silver price adds 1,400 combined $150M to consolidated NPV After-Tax NPV 5% (US$M) 1,200 1,000 800 600 400 200 0 $30 $40 $50 $60 $70 $80 $90 $100 $110 $120 Silver Price U
Slide 12: La Negra Mine
LA NEGRA MINE QUERÉTARO, MEXICO Active Underground Operation +30 years operations, restarted in 2024 Well Defined Metallurgy 2,500 tpd mill currently operating at 55% capacity – planned increase to full capacity by end of H1 2027 Low Capital Investment Improvements Estimated total of $20 million thr
Slide 13: Transformational Acquisition
TRANSFORMATIONAL ACQUISITION LA NEGRA MARKS START OF PRODUCER STATUS Q3’26 Q1 – 2026 H1’27 Transaction Close – Operational Improvements Begin Focus on improving mining practices and equipment availability Transaction Announced Operational Improvements, Capital • 16.8 M Shares Investments Lead to Inc
Slide 14: PEA Base Case Highlights
PEA BASE CASE HIGHLIGHTS ROBUST ECONOMICS UNDER BASE CASE ASSUMPTIONS FINANCIAL $329 M 131% 2.0 yrs METRICS After-tax NPV (5%) After-tax IRR Payback Period LOM $24.86/oz 4.1 Moz AgEq 8.2-years OPERATING Avg. Annual AgEq Mine Life METRICS Production Avg. AISC (LOM avg.) LOM CAPITAL 15.7x $20.9 M $12.
Slide 15: Increasing Production Profile
INCREASING PRODUCTION PROFILE INCREASED TONNAGE AND GRADES DRIVE PEAK PRODUCTION OF 5.6 MOZ AGEQ 6.0 60.0 55.8 5.0 50.0 Annual Production (Moz) 4.0 40.0 34.9 34.0 3.0 30.3 30.0 Ownership Location 22.5 23.6 100% 2.0 21.1 20.0 Querétaro, Mexico 20.1 19.5 Status Capacity Operation 2,500 tpd 1.0 10.0 Mi
Slide 16: After-Tax Cash Flow
AFTER-TAX CASH FLOW PEAK FUNDING OF $12.5M AT BASE CASE, ONLY $4.7M AT SPOT 120.0 450 US$439M 100.0 375 Undiscounted after-tax cash flow Annual after-tax cash flow (US$M) 80.0 300 Cumulative (US$M) 60.0 225 US$12.5M Maximum Cash Requirement 40.0 150 20.0 75 2.0 years 0.0 0 After-tax payback from Jul
Slide 17: Key Steps to Increase Production
KEY STEPS TO INCREASE PRODUCTION THREE STEPS TO HIGHER OUTPUT 01 New Equipment 02 Development 03 Filtered Tailings Improve Mining Fleet Maintain Development Create Capacity, Enhance Performance Rates Safety and Environment New Epiroc equipment ordered Maintain lateral development Installation of fil
Slide 18: Organic Growth Opportunities
ORGANIC GROWTH OPPORTUNITIES THREE STEPS TO HIGHER OUTPUT 01 Optimize Mine 02 Increase Grades 03 Explore Plan Refine Mine Plan Target High Target Expansion to Include More Grade Opportunities Resources Silver Pull high-grade zones Target opportunities for Target opportunities to forward after high g
Slide 19: Cusi Mine
CUSI MINE CHIHUAHUA, MEXICO Rare True Silver Deposit ~90% revenue from silver Sierra Madre Occidental Belt On trend of major deposits Top Tier Location 120 km west of Chihuahua – Access to experienced labour pool, power, paved roads 1,200 tpd mill 40 km from mine Permitted and On Track For late 2026
Slide 20: Silver Dominant Production
SILVER DOMINANT PRODUCTION STEADY PRODUCTION PROFILE OF ~90% SILVER BY REVENUE 3.0 60 57.9 2.5 50 Annual Production (Moz) 2.0 40 35.5 1.5 30.9 30 29.2 28.7 26.4 Ownership Location 22.1 100% Chihuahua, Mexico 1.0 20 18.2 18.3 Status Capacity Restart 1,200 tpd 0.5 10 Mine Type Processing Underground C
Slide 21: PEA Base Case Highlights
PEA BASE CASE HIGHLIGHTS1,2 RESTART PLANNED FOR Q4 2026 FINANCIAL $104M 94.8% 0.9 yrs METRICS After-tax NPV (5%) After-tax IRR Payback Period LOM OPERATING 2.5 Moz AgEq US$27/oz AgEq 9-year Avg. Annual Production Avg. AISC (LOM avg.) Mine Life METRICS LOM 5.4x $19.2M $140.6M CAPITAL After-tax NPV Su
Slide 22: Cusi Restart on Track
CUSI RESTART ON TRACK TARGETING FIRST CONCENTRATE IN Q4 2026 – 68% COMPLETE AS OF AUGUST 2026 Q2 Q4 2026 2026 Underground Development and Commercial Mill Improvements Production • Begin development mining at • Ramp up production rates to Promontorio and San Miguel full 1,200 tpd capacity • Continue
Slide 23: Exploration
EXPLORATION
Slide 24: Organic Growth Opportunities
ORGANIC GROWTH OPPORTUNITIES ESTABLISHED BASE CASE WITH UPSIDE AT BOTH PROJECTS 01 BASE CASE 02 LA NEGRA 03 CUSI Exit 2027 at Steady State Target High Grade Silver, Target Expansion Production CRD System Opportunities Exit 2027 with both assets Target opportunities for high silver Target opportuniti
Slide 25: La Negra – Exploration Focus
LA NEGRA – EXPLORATION FOCUS MINE SCALE AND PROPERTY SCALE FOCUS Overview • CRD system located in prolific Mexican Silver Belt • New geological interpretation allows for better geologic and grade continuity • Very limited application of modern exploration techniques TSX.V: SICO 25
Slide 26: La Negra – Exploration Focus
LA NEGRA – EXPLORATION FOCUS MINE SCALE AND PROPERTY SCALE FOCUS 01 DRILLING 02 PROPERTY SCALE 03 DATA ANALYSIS 15,000 m Program Target the Bigger Leverage History of La Underway Picture Negra Surface and underground program Plans to complete LiDar Survey, With more than 50 years of history designed
Slide 27: Cusi - Opportunities for Growth
CUSI - OPPORTUNITIES FOR GROWTH 2026 EXPLORATION PROGRAM UNDERWAY Cusi Geology and Vein Map On going 30,000 m drill program • +37km cumulative length of mapped veins to date. • Ongoing drilling oriented on infill, near mine resource Expansion and Exploration (discovery). • MRE update planned for H1
Slide 28: Cusi – Exploration Focus
CUSI – EXPLORATION FOCUS MULTIPLE OPPORTUNITIES FOR ORGANIC GROWTH 01 PROMONTORIO 02 SAN MIGUEL 03 NEW TARGETS Target Within Planned Target Expansion of Brownfields and Mine Footprint Wide, Higher Grades Greenfields potential 2026 Infill and Resource Highest potential target for growth On going expl
Slide 29: Cusi - San Miguel
CUSI -SAN MIGUEL LARGE INITIAL RESOURCE AND GROWING Highly Prospective Claims • South block of claims acquired in 2024 located along the favourable NW trending Cusi fault-vein corridor. Multiple Wide, Parallel Veins • Vein widths significantly above historical average and multiple vein splays being
Slide 30: Near Term Catalysts
NEAR TERM CATALYSTS CATALYST ROADMAP Catalyst Q3 2026 Q4 2026 H1 2027 Cusi Mine Development and Rehabilitation 68% complete, on track First Concentrate Production On track 30,000 m Drill Program 57% complete, focus on infill and expansion Resource Update On track La Negra Arrival of New Underground
Slide 31: Contact Us
CONTACT US MARK AYRANTO, CEO HEAD OFFICE GENERAL SOCIAL info@silvercomining.com 750-1095 W Pender St silvercomining.com Vancouver, BC V7X 1M5 info@silvercomining.com Canada TSX.V: SICO OTCQB: SICOF TSX.V: SICO 31
Slide 32: Appendix
APPENDIX TSX.V: SICO 32
Slide 33: La Negra Mineral Resource Estimate
LA NEGRA MINERAL RESOURCE ESTIMATE EFFECTIVE 1 JULY 2026 · BASE CASE CUT-OFF 80 G/T AGEQ Average Grade Material Content Resource Class Mass Ag Cu Pb Zn AgEq Ag Cu Pb Zn AgEq Mt g/t % % % g/t koz Mlb Mlb Mlb koz Indicated 15.23 106 0.47 0.59 1.81 201 51,900 158 199 608 98,200 Inferred 2.26 92 0.21 1.
Slide 34: Cusi Mineral Resource Estimate
CUSI MINERAL RESOURCE ESTIMATE EFFECTIVE OCTOBER 20, 2025 · BASE CASE CUT-OFF 120 G/T AGEQ Measured & Indicated Resources MRE compared to net historic MRE: 4.89 million tonnes grading 262 g/t AgEq containing 41.2 million ounces AgEq. • 28% increase in M&I resources Inferred Resources • 22% increase