Silver Mines : Resources Rising Stars Conference Gold Coast Presentation

About this update from Silver Mines Limited

ersonal use only Resources Rising Stars Conference Gold Coast - June 2022 onlyuse ersonal 2 Disclaimer The material in this presentation contains certain forecasts and forward-looking information, including regarding possible or assumed future performance or potential growth of Silver Mines Limited ("SVL"). Such information is not a guarantee of future performance and involves unknown risks and uncertainties, as well as other factors, many of which are beyond the control of SVL. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. No representation or warranty, expressed or implied, is made or given by or on behalf of SVL, any of SVL's directors, or any other person as to the accuracy or completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any of them for such information or opinions or for any errors, omissions, misstatements, negligent or otherwise, or for any communication written or otherwise, contained or referred to in this presentation. Accordingly, neither SVL nor any of the SVL directors, officers, employees, advisers, associated persons or subsidiary undertakings shall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying upon the statement or as a result of any admission in, or any document supplied with, this presentation or by any future communications in connection with such documents and any such liabilities are expressly disclaimed. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. Silver Mines Limited Introduction onlyuse ersonal 3 Key Assets The Bowdens Silver Project is located in central New South Wales, Australia. The consolidated project is 100% held and the area comprises 1,950km 2 (480,000 acres) of titles covering approximately 80km of strike of the highly mineralised Rylstone Volcanics. The Bowdens Silver Project is the largest undeveloped silver deposit in Australia and one of the largest in the world with substantial resources and a considerable body of high quality technical work already completed. Share Register In early 2021, the Company concluded a successful equity placement to raise A$30 million well supported by Australian and North American institutional investors. 12,000 shareholders with trading averaging around 6 million shares a day. Capital Structure (ASX: SVL) AUD USD Shares on Issue (m) 1,291.8 1,291.8 Share Price ($) 0.20 0.14 Undiluted Market Capitalisation ($m) 258.4 186.0 Cash ($m, as at end March 2022) 25.3 18.2 Enterprise Value ($m) 233.1 167.8 Options ESOP @ A$0.30 Dec 2024 9.0m 3 Year Milestone @ A$0.20 5.0m Directors Keith Perrett Non-Executive Chairman Anthony McClure Managing Director Jonathan Battershill Non-Executive Director Kristen Podagiel Non-Executive Director Silver Mines Limited Progress onlyuse ersonal 4 Recent Highlights Lodgement of the Environmental Impact Statement and Development Application for the Bowdens Silver mine development. Final submission processes almost complete for Independent Planning Commission determination in second half 2022. No objections from any Government agency. Continued outstanding drilling results from Bowdens Silver. Four diamond drilling rigs continue on-site. Three zones directly underneath the planned open-cut highlight potential underground development. Resource assessment and Scoping Study commenced for a potential underground development. Well positioned for continued momentum in a very positive silver price environment. Silver Mines Limited Share Price Graph 333 275 40 0.38 0.26 163 486 67 128 Mineral Resource 131 95 69 0.44 0.32 101 66 97 30  Considerable exploration potential at the Bowdens Silver Project, with extensive drilling underway (30,000m program) and confirmed significant high-grade extensions to mineralisation close to mine. Ore Reserve Mt Zn kt Ag g/t Pb AgEq Ag % g/t Moz Pb AgEq kt Moz Zn % Contained Metal Grade Tonnes  Low initial capital requirement of A$246m / US$185m to develop a 2Mtpa project, producing an average of 6Moz AgEq over the first 3 years of production at an average cash cost of US$9.15/oz, underpinning strong EBITDA and cash flow. development approval. Reserves and Resources (1) 2021 - 2022 Approval Processes & Optimisation - Feasibility Study completed and government approvals submitted - received positive responses from regulators and various stakeholders suggesting there is a clear pathway to May 2020 EIS Complete, DA Submission  Bowdens well-advanced, with production expected in 2024/25 to June 2018 Feasibility Study complete  100% owned asset located in a low sovereign risk jurisdiction for mining development with ready access existing infrastructure. May 2018 Ore Reserve complete (97 Moz AgEq)  The largest silver development project in Australia , and one of the largest globally, with a current JORC-compliant Resource base of 275Moz AgEq. September 2017 Mineral Resource complete (275 Moz AgEq) onlyuse ersonal 5 Not s: (1) Calculations have been rounded to the nearest 100,000 t, 0.1 g/t silver and 0.01% zinc and lead grades respectively. The Ore Reserve is reported by economic cut-off grade with appropriate consideration of modifying factors including costs, g ot chnical considerations, mining and process recoveries and metal pricing. Bowdens' silver equivalent: Ag Eq (g/t) = Ag (g/t) + 33.48*Pb (%) + 49.61*Zn (%) calculated from prices of US$20/oz silver, US$1.50/lb zinc, US$1.00/lb lead and metallurgical r cov ries of 85% silver, 82% zinc and 83% lead estimated from test work commissioned by Silver Mines Limited. Timeline of Major Milestones Highlights Bowdens Silver Project: Overview This is an excerpt of the original content. To continue reading it, access the original document here .

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