Sunshine Silver Mining & Refining (SSMR) Corporate presentation summary

Strategic positioning and asset quality

• Located in Idaho's Silver Valley, a top-ten global mining jurisdiction with strong infrastructure and regulatory support.

• Holds the highest-grade primary silver deposit in North America, with Indicated Mineral Resources averaging 1,022 g/t silver and Inferred at 776 g/t.

• Anticipated to supply about 16% of U.S. silver production at 1,000 tpd, with plans to double throughput.

• Vertically integrated platform with mine, mill, and refinery, including a fully permitted antimony facility.

• Backed by experienced management and The Electrum Group, a leading natural resources investor.

Resource base, production, and economics

• 24-year mine life supported by 3,162 kt Indicated and 6,406 kt Inferred resources.

• Average annual silver production projected at 6.7 Moz for the first 5 years, 5.8 Moz over LOM.

• Life-of-mine AISC of $18.81/oz Ag before by-product credits, positioning among lowest-cost U.S. producers.

• After-tax NPV5% of $2.2 billion at $60.27/oz Ag, with significant leverage to silver price upside.

• Existing infrastructure valued at ~$600 million enables a capital-efficient restart with initial capex of ~$290 million.

Permitting, exploration, and growth potential

• Major water, tailings, and operating permits in place, reducing permitting risk and timeline.

• Largest mineral rights holder in the Silver Valley, with a 6x land package expansion since 2010 to 38,000 acres.

• Ongoing 45,000-meter surface and 50,000-meter underground drilling programs targeting near-mine and district-wide growth.

• Recent drill results include multiple intercepts exceeding 1,000 g/t Ag, supporting plans to double mill throughput.

• Feasibility studies for mine, antimony plant, and refinery targeted for completion by 2027, with first production expected in late 2028.