Silver Mines : Annual General Meeting Investor Presentation

About this update from Silver Mines Limited

For personal use only INVESTOR PRESENTATION Annual General Meeting Jo Battershill – Managing Director 26 November 2024 WHY INVEST IN SILVER MINES LIMITED only One of the world’s largest, undeveloped silver projects use Resource of 189Moz silver (396 Moz AgEq) Reserve of 66Moz silver (97 Moz AgEq) supports personal operational mine life of over 16-yrs Targeting average production of 4.0 – 4.5Moz Ag at AISC Optimisation program underway on track to be finalised before end of 2024 For of Minister for Planning has stated that the Bowdens Development Application is still on foot Bowdens Silver mineralisation remains open with outstanding drilling results along strike and at depth Multiple options to extend mine life Extensive tenement holdings – 2,115km 2 at Bowdens and 747km 2 at Tuena Drilling has commenced at Bara Creek targeting Bowdens analogy (collapsed caldera) Drilling targets identified at Tuena Highly leveraged to a positive silver price environment Refer to Appendices 1 & 2 for further details regarding mineral resource estimates and ore reserves. Bowdens silver equivalent: Ag Eq (g/t) = Ag (g/t) + 33.48*Pb (%) + 49.61*Zn (%) + 80*Au (g/t) calculated from prices of US$20/oz silver, US$1.50/lb zinc, US$1.00/lb lead, US$1600/oz gold and metallurgical recoveries of 85% silver, 82% zinc and 83% lead, 85% gold estimated from test work commissioned by Silver Mines Limited. 3 For personal use only SILVER MINES LIMITED CORPORATE INFORMATION Share Trading History 0.40 0.35 0.30 SVL strongly correlated to the US$ silver price R² = 0.5963 (A$/sh) 0.20 0.25 SVL 0.15 0.10 0.05 0.00 10 15 20 25 30 35 XAG (US$/oz) Capital Structure (ASX: SVL) AUD USD Shares on Issue (m) 1,510 1,510 Share Price ($) 21 Nov 0.10 Undiluted Market Capitalisation ($m) 150.8 98.1 Cash ($m, as at end Sept 2024) 7.1 4.6 Enterprise Value ($m) 143.7 93.5 Options ESOP @ A$0.30 Dec 2024 9.0m ESOP @ A$0.30 Mar 2026 2.5m ESOP @ A$0.50 Mar 2028 2.5m 3 Year Milestone @ A$0.20 5.0m Executive Performance Rights 12.0m Directors Keith Perrett Non-Executive Chairman Jonathan Battershill Managing Director Kristen Podagiel Non-Executive Director Rob Dennis Non-Executive Director 4 SILVER MINES LIMITED ENVIRONMENTAL, SOCIAL AND GOVERNANCE For personal use only Strong commitments to ESG through collection of detailed baseline environmental and social information Governance policies ensure compliance with ASX corporate standards and promote a safe, non- discriminatory, diverse and inclusive workplace Silver Mines Limited now Digbee ESG Certified Digbee ESG is the industry standard disclosure framework for the mining industry Highly credible score of BBB reflecting robust process of technical design, environmental and social impact studies, assessment and consultation 5 BOWDENS SILVER PROJECT PERMITTING UPDATE For personal use only Advice received suggests the Development Application remains alive and on foot and has not been finally determined by the consent authority, the IPC …the court had not refused the Bowdens DA but had declared the consent void … the application remains on foot with the IPC to assess the application based on the law as it applies at the time of the IPC’s determination.” – Paul Scully - Minister for Planning and Public Spaces NSW government’s proposed amended legislation will permit the Planning Secretary to determine what forms part of a single proposed development Bowdens Silver progressing with work programs to enable the IPC to consider the potential impacts of the transmission line under the relevant legislation 6 BOWDENS SILVER PROJECT HIGH TECH METALS use only Bowdens Silver falls under the New South Wales Government’s Critical Minerals and High-Tech Metals Strategy personal Establishing NSW as a world leader for investment in sustainable mining is a key priority for the NSW Government.” … identify critical minerals as an emerging sector and represents a new future for the NSW mining sector.” For State royalties from mining are significant (FY2023 = $6.0 billion) and are budgeted to decrease to $2.8 billion in FY2026. NSW mining royalties are mostly coal Deferral of the first five years of royalties for new critical minerals projects announced by the NSW Government in October 7 onlyuse SILVER METAL OF INNOVATION personalFor SILVER WHY SILVER? For personal use only Monetary value and store of wealth Highest electrical and thermal conductivity of all metals The best reflector of visible light Global efforts to electrify and decarbonize will contribute to increased silver demand: Solar powered renewable energy Electric vehicles – solid state Ag-C batteries Broadband cellular (5G) Electrical Photovoltaics ( 21% of demand*) ( 19% of demand) A safe haven in times Portfolio Hedge against Jewellery 5G networks of geopolitical risk diversification inflation Batteries Water purification A store of value Universal recognition A tangible and wealth with good liquidity asset for over 4,000 yrs Medical * Excluding Photovoltaics 9 SILVER PHOTOVOLTAIC only PV sector consumed 19% of total supply in 2023 use 200 100 personal 180 Index(2010=100) 60 160 Demand has surged 80 140 despite thrifting Moz 120 60 100 80 40 For 40 20 20 0 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Fabrication (Moz) Ag Loading Solar energy is an inexhaustible fuel source that is pollution free Solar capacity in China is now greater than the rest of the world combined In 2023, China installed more solar panels than the US has in its history US government policy states 100% ‘clean’ electricity grid by 2035 3 million solar panels are required to generate 1GW of energy Paving the way for electrification and helping shape the world’s cleaner and greener future. Demand from solar forecast to grow 3x by 2030 Index is based on silver loadings per cell. Source: Metals Focus, April 2023 10 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

View stock analysis, news, and events for Silver Mines Limited