Sunshine Silver Mining & Refining (SSMR) investor relations material

Key investment highlights

• Located in Idaho's Silver Valley, a prolific region with over 1.2 billion ounces of historical silver production.

• Resource quality features high grade, large size, and strong metallurgical recovery potential.

• Clear pathway to production by end of 2028, supported by permits, infrastructure, and stakeholder backing.

• Significant exploration upside and district-wide growth potential beyond current resource base.

• On-site, fully permitted processing facility for silver, antimony, copper, and potentially germanium and gallium.

Resource and production profile

• Current S-K 1300 estimate: 264 million ounces silver (104M Indicated at 1,022 g/ton; 160M Inferred at 776 g/ton).

• Highest grade silver resource in North America; grades 3x higher than global peers.

• 24-year mine life with 97% silver recovery rate, based on historical performance.

• Targeting average annual production of 6.7 million ounces in first five years, aiming for 16% of U.S. supply.

• Feasibility study underway to double mill throughput from 1,000 to 2,000 tons per day.

Strategic initiatives and timeline

• Assembling a veteran team with deep Silver Valley experience to drive 2028 production restart.

• Plans to expand vertical integration with antimony plant and silver-copper refinery.

• Domestic refining is strategic, as most U.S. silver and antimony refining is currently offshore.

• Updated Mineral Resource estimate expected in Q1 2027; mine mill feasibility study to complete in Q2 2027.