#1HD785 KOMATSU 146 DT746 KOMATSU Developing an Open Pit Lead-Silver Project in Western Australia Investor Presentation 9 December 2020 Pacifico Minerals Ltd#2Disclaimer Pacifico Minerals Ltd Forward-Looking Statements Certain statements in the presentation are or may be "forward-looking statements" and represent the Company's intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company's future performance. These forward-looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company's actual performance and results in future periods to differ materially from any express or implied estimates or projections. General Disclaimer The information in this presentation remains subject to change without notice. This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company. Not an Offer This presentation is for information purposes only. The presentation does not comprise a prospectus, product disclosure statement or other offering document under Australian law. The presentation does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any shares in Pacifico Minerals Limited. No Liability Pacifico Minerals Limited has prepared this document based on information available at the time of preparation. No representation or warranty, express or implied is made as to the fairness, accuracy or completeness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, Pacifico Minerals Limited, its related bodies corporate and the officers, directors, employees, advisers and agents of those entities do not accept any responsibility or liability for any loss arising from the use of the presentation or its contents or otherwise arising in connection with it. Competent Person Statements The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the 'JORC Code') sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. Information included in this presentation relating to Mineral Resources, Ore Reserves, Production Targets and Financial Forecasts has been extracted from the Mineral Resource Estimate dated 2 June 2020 and the Pre-Feasibility Report and Ore Reserve Statement dated 25 August 2020, both available to view at www.pacificominerals.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in either the Mineral Resource Estimate or the Ore Reserve Statement and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the Mineral Resource Estimate or the Ore Reserves Statement. The information in this release that relates to Exploration Results is based on information prepared by Dr Simon Dorling. Dr Dorling is a member of the Australasian Institute of Geoscientists (Member Number: 3101). Dr Dorling has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Dorling consents to the inclusion in the release of the matters based on their information in the form and context in which it appears. Pacifico Minerals Limited ASX:PMY 2#3Investment rationale Pacifico Minerals Ltd Australia's largest undeveloped, near- surface Lead-Silver-Zinc deposit Granted mining leases, EPA approved¹, 150km from Wyndham Port in Western Australia Low Risk Operation located in a Tier 1 Mining Jurisdiction Initial 10-year Open cut mine plan underpinned by 92% Reserves and low cash operating cost Impressive Project Economics Pre-Tax NPV, A$303m, Pre-Tax IRR 46%, ~1.6- year payback from start of production Fully Funded through to a Decision to Mine A$15.5m cash on hand to fund Resource expansion and Definitive Feasibility Study ("DFS") Rare ASX exposure to Silver markets 1.5 Million ounces per annum of Silver production. Both Lead and Silver critical to the transition to a low carbon economy Near term opportunities to add significant value Mine Life upside supported by a demonstrated ability to increase Resource size and confidence 1. Section 45C change proposal to be submitted to the EPA to reflect advancements Pacifico Minerals Limited ASX:PMY 3#4PFS highlights The Sorby Hills PFS released in August 2020 highlights a technically robust project with impressive economics The PFS highlights the low-risk nature of the Sorby Hills Project with a well-defined large-scale Mineral Resource, conventional crush-mill-float processing circuit, high metal recoveries and key approvals received. Initial 10-Year Mine life processing 15Mt ore ㅁㅁㅁ 50kt Lead and 1.5Moz Silver production per annum¹ $ US$0.40/lb Lead C1 cash cost A$183m Upfront $ Capex including A$20m contingency Pre-Tax NPV of A$303m² % and Pre-Tax 46% IRR² 1.6-year payback² Average Life of Mine EBITDA A$75m per annum (A$127m per annum over the first 2 years of production) The quality and detail included in the PFS allows for a seamless transition into the DFS and early discussions with lenders. 1: Life of mine average 2: NPV based on 10-year average commodity prices. Lead US$0.95/lb, Silver US$21.10/oz. AUD:USD FX rate of 0.70 Pacifico Minerals Limited ASX:PMY Pacifico Minerals Ltd 4#5Project Highlights Sorby Hills Lead-Silver-Zinc Project Australia's largest undeveloped, near-surface Lead-Silver-Zinc deposit. • 75%/25% Joint Venture Partnership with China's largest Lead smelter and Silver producer, Henan Yuguang Gold and Lead Co. Ltd. • Granted pre-native title mining tenements. • Large shallow Resource with significant growth potential. • Open Pit Reserves of 494kt Lead and 17.6Moz Silver¹ and growing. • Located close to existing infrastructure: • ~50km north-east of Kununurra; • ~150km by existing sealed road to Wyndham Port; and • Opportunity to access hydro grid power. Sorby Management Pty Ltd SORBY HILLS PROJECT Transport Route From Sorby Hills Project to Wyndham Port Sorby Hills Project (Pb-Ag-Zn) Wyndham Port CoWyndnam 20 km MGA Zone 52 GREAT NORTH RN HIGHWAY Sorby Management Project Town Current Transport Route Proposed Transport Route Major Road Minor Road Track Carlton Hill VICTORIA HIGHWAY Ivanhoe o Kununurra WESTERN AUSTRALIA NORTHERN TERRITORY Pacifico Minerals Ltd Map Area NT OLD WA SA NSW The fully funded Definitive Feasibility Study is underway. 50000 Image: Location of the Sorby Hills Project relative to Kununurra and Wyndham Port 500000mE 1. See Slide 8 for full Reserve Estimate Pacifico Minerals Limited ASX:PMY 5#6Mineral resource estimate Large shallow Resource comprising gently dipping Lead-Silver deposits with well defined geology Map Area NT OLD WA M 80/285 SA NSW Sorby Hills Project (Pb-Ag-Zn) Sorby Management Project Deposit Outline Fault CARBONIFEROUS Upper Weaber Group Milligans Formation Burt Range Group DEVONIAN Ningbing Group (Buttons Formation) Cockatoo Group CAMBRIAN PRECAMBRIAN Road Track Pacifico Minerals Ltd SORBY HILLS PROJECT Tenements & Orebody Locations ALPHA BETA M 80/196 NORTON Wildcat Exploration Target OMEGA 500000mE WESTERN AUSTRALIA ------- NORTHERN TERRITORY B M 80/286 M 80/197 M 80/287 Image: Location of the Sorby Hills deposits and mining tenements relative to local geology 2 km MGA Zone 52 8290000mN A 8290000mN 8291000mN B 1.8Mt4.3% Pb 0.3% Zn, 24g/t Ag ALPHA LA NORTON BETA Section 10288 OMEGA OMEGA 15.8Mt3.5% Pb 0.4% Zn, 32g/t Ag 8292000mN 8293000mN Resource Drill Holes Resource Mineralisation 1km NORTON 20.6Mt @ 2.8% Pb 0.4% Zn, 37g/t Ag Vertical Exaggeration 1:2 Knox Siltstones Transition Formation Image: Long section looking west. Red blocks represent mineralisation from the MRE block model. 8294000mN SURFACE Sorby Dolomite Deposit Mt Pb (%) Ag (g/t) Zn (%) A 0.6 6.1 32 1.2 B 1.8 4.3 24 0.3 Omega 15.8 3.5 32 0.4 Norton 20.6 2.8 37 0.4 Alpha 2.0 3.1 67 1.0 Beta 3.3 4.6 61 0.4 Total 44.1 3.3 38 0.5 Measured 7.1 4.3 57 0.4 Indicated 13.7 3.3 31 0.4 Inferred 23.4 3.0 36 0.5 Reported at cut-off of 1% Pb (Pb domains only) A' -100m- -200m- Pacifico Minerals Ltd The information presented above is extracted from the report entitled "Mineral Resource Update Sorby Hills Pb-Ag-Zn Project" released on 2 June 2020 and is available to view on www.pacificominerals.com.au/ Pacifico Minerals Limited ASX:PMY 6#7Ore reserve and mine plan A low-risk Mine Plan underpinned by 92% Ore Reserves Classification Mt Pb (%) Pb (kt) Ag (g/t) Ag (Moz) Proved 6.8 4.1 275 53.0 11.5 Probable 6.9 3.2 219 27.6 6.1 Total 13.6 3.6 494 40.2 17.6 . Reported at cut-off of 1.5% Pb Base Case Quarterly Mine Plan Mined Tonnes ('000 t) 600 500 400 300 200 100 M L Measured 5 ཙ ན སྟྲ Indicated Inferred Pb Grade (right axis) Pacifico Minerals Limited ASX:PMY Lead (%) 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% Pacifico Minerals Ltd The PFS Base Case incorporates the mining of 14.8Mt of ore over an initial 10-year mine life from four deposits, namely Omega, A, B and southern portion of Norton. · · Mineralisation from 20m. Flat topography and easy free dig in first 18m. Life of Mine Strip Ratio of 8.0x (volumetric basis). Ministerial and WA Environmental Protection Authority ("EPA") approval for an open pit mine and infrastructure¹. 1Section 45C change proposal to be submitted to the EPA to reflect advancements. Refer ASX announcement 25 August 2020 for further information 7#8Crush, Mill and Float 1.5Mt p.a. Metallurgy & Processing Conventional processing route producing a high-quality concentrate Production Summary Plant Process Plant Throughput ROM Bin Vibrating Primary Crusher Grizzly Feeder Οσ Average Feed Grade 3.6% Lead, 39.5 g/t Silver Average Lead Recovery 93.3% Οσ Average Silver Recovery 80.3% Total Production Average Production Average Concentrate Grade Average Lead Average Silver dmt = dry metric tonnes 807,000 dmt concentrate 81,000 dmt concentrate p.a. 62% Lead, 580 g/t Silver 50kt p.a. 1.5Moz p.a. Container Loading Image: Sorby Hills processing circuit Pacifico Minerals Limited ASX:PMY Mill Feed Bin Classification Cyclone P80 125um SAG Mill Concentrate Filter Filter Feed Tank Concentrate Thickener Flotation Concentrate Sulphide Rougher Flotation B □ □ Recleaner Flotation Cleaner Flotation Π Pacifico Minerals Ltd Oxide Rougher Flotation Flotation Tailings Tailings Thickener Tailings Storage Facility 8#9Value adding Opportunities The Sorby Hills project has significant upside potential that has not been included in the Pre-Feasibility Study. These advanced opportunities have the potential to scale-up and expand the Project • • Near mine drilling targets: Planned drilling is expected to confirm continuity between Norton and Omega deposits Increased resource: Demonstrated ability to efficiently increase Resource. Phase IV drilling program recently concluded . Potential to increase mine size: Pacifico may look to expand mining rate and process capacity in the Definitive Feasibility Study • • Dense Media Separation Circuit: The incorporation of a DMS circuit would allow for the economic treatment of lower grade ore that would otherwise be classified as waste Regional exploration potential: Identified targets such as Eight Mile Creek have the potential to expand Pacifico's regional resource footprint The Company will continue to look to advance options to maximise the economic returns from the development of Sorby Hills Pacifico Minerals Limited ASX:PMY Pacifico Minerals Ltd 6#10Near Mine drilling targets High quality near mine drilling targets • Further drilling is expected to confirm continuity between Norton and Omega deposits. M 80/285 495000mE ALPHA Gravity Survey Extension . Extension of the gravity survey to cover full tenement package completed. (With interpretation on the way) Four wildcat drillholes in 2018 intersected continuous shallow mineralisation. Follow up diamond drilling planned for Q2 2021- possible link to Norton. Alpha, Beta and northern portion of Norton were excluded from the PFS Mine Plan to ensure the Project does not materially step outside the EPA approved development zone. Significant Drilling Results to date • 22.0m at 8.8% Pb, 52g/t Ag, 0.3% Zn from 68m (ACD082) • • • • 20.0m at 7.3% Pb, 56g/t Ag, 0.4% Zn from 11m (ACD046) 11.7m at 10.8% Pb, 105 g/t Ag, 0.4% Zn from 75.7m (AF005) 14.0m at 13.0% Pb, 89g/t Ag, 1.0% Zn from 24m (ACD080) 21.0m at 5.0% Pb, 21g/t Ag, 0.5% Zn • from 23m (ACD056) 23.0m at 9.0% Pb, 88g/t Ag, 1.2% Zn from 59m (ACD071) 21.0m at 5.0% Pb, 21g/t Ag, 0.5% Zn from 23m (ACD056) 10.0m at 7.16% Pb, 383g/t Ag, 0.43% Zn from 110m (SHPDA31) 10.0m at 6.6% Pb, 53g/t, Ag 0.9% Zn from 92m (Norton - AI010) 12.3m at 5.5% Pb, 42g/t, Ag 0.2% Zn from 90m (Norton - AI011) BETA Norton Extension Wildcat Target Map Area NT QLD WA SA NSW VIC TAS Pacifico Tenement Target/Extension of Resource Surface Projection of Resource Bouguer Gravity Image Road Track Pacifico Minerals Limited ASX:PMY M 80/196 Norton Extension NORTON Norton Omega Link OMEGA Omega Extension B Extension B M 80/197 A 2 km MGA Zone 52 M 80/286 IT 10 Pacifico Minerals Ltd 500000mE WESTERN AUSTRALIA NORTHERN TERRITORY 8290000mN 8295000mN#11Increased Resource Demonstrated ability to efficiently increase Resource size and confidence with each drilling program Pacifico has undertaken three phases of drilling that have: Increased the total Resource tonnage by more than 50%; and Approximately tripled the contained metal classified as a Measured and Indicated Resource. Phase IV Drilling recently concluded: Pb Eq. (kt) 2,000 1,500 1,000 Phase I Drilling Phase II Drilling 500 5,372 m 6,000 m Phase III Drilling 3,265 m Pacifico Minerals Ltd 0 MRE at Acquisition MRE Mar. 2019 Inferred MRE Oct. 2019 ■Measured & Indicated MRE June 2020 Image; Mineral Resource Estimate growth since acquisition in 2018 2Mineral Resource Estimates reported at 1.0% Pb cut-off, Zn is not included. ³Refer to appendix for Pb Equivalent calculations Preliminary observations from brown-fields exploration drill holes suggest very positive impacts for the Resource and pit designs. • • 58 drill holes completed for 4,803m • Significant assay results received to date: • SHDD002: 17m at 9.5% Pb and 67g/t Ag from 15m SHDD003: 16m at 6.8% Pb and 102 g/t Ag from 58m SHDD005: 9m at 5.9% Pb and 67 g/t Ag from 11m Additional Assay result expected through December and January. Resource Estimate update Q1 2021. Phase V Drilling Program Planned for Q2 2021. See ASX announcement 20 November 2020 for further information NW 8289900m 497800m SORBY HILLS - B DEPOSIT SHDD034 CROSS SECTION OmRL 40m 55m Recent Drill Hole Historical Drill Hole Intervals of Logged Mineralisation 2020 MRE Outline PFS Whole Ore Option Pit SHDD032 Revised Mineralisation Envelope Transported Saprolite Siltstone (Knox Formation) Sedimentary Breccia (Transition Formation) Dolomite (Sorby Dolomite) 498000m 8289700mN SHDD030 SE NW 497900mE 8290900mN 496100mE 8290700m SORBY HILLS - OMEGA DEPOSIT CROSS SECTION SURFACE D' B BASE OF COMPLETE OXIDATION- TOP OF FRESH ROCK OmRL OPEN 73m 100m -100mRL -200mRL Cross section through the B Deposit showing observed mineralisation in the newly completed drill holes SHDD030, SDDSH032 and SHDD034 relative to the current Resource envelope and open pit design. SHDD046 52m 70m Revised Mineralisation: Envelope Transported Saprolite SHDD039 Recent Drill Hole Historical Drill Hole Intervals of Logged Mineralisation 2020 MRE Outline Siltstone (Knox Formation) ...PFS Whole Ore Option Pit Sedimentary Breccia (Transition Formation) Dolomite (Sorby Dolomite) OPEN 100m SE SURFACE B' BASE OF COMPLETE OXIDATION TOP OF FRESH ROCK -100mRL -200mRL Cross section [B-B'] through the southern portion of the Omega deposit showing observed mineralisation intersected in newly completed drill holes SHDD039 and SHDD046 relative to the current Resource envelope and open pit design. Pacifico Minerals Limited ASX:PMY 11#12Potential increase in mine size Subject to positive assay results from the recently completed drilling, Pacifico may elect to include phase V drilling planned for Q2 2021 in the DFS with the aim of supporting an increased mining rate and processing capacity Key benefits may include: lower capital costs per tonne of Concentrate production capacity; and lower operating costs per tonne of Concentrate produced. Leading to more robust project economics including: a shorter payback period; higher operating margins and stronger operating cash flows; and increased value for Pacifico shareholders. Pacifico Minerals Limited ASX:PMY Sis DT-0123 FMC 105 033 FHO 261 Pacifico Minerals Ltd 12#13Dense Media Separation (DMS) circuit addition The incorporation of a DMS circuit would allow for the economic treatment of lower grade ore that would otherwise be classified as waste The PFS considered an alternative processing option whereby low-grade ore is beneficiated via a parallel DMS circuit to produce a product that supplements the high-grade direct flotation feed. The study demonstrated: • • • Increased ore throughput; Enhancement of sub-economic ore grade by 2.7x lead and 2.4x silver; and Enhanced flotation feed grade. The encouraging results of the DMS Option clearly warrants further investigation during DFS. Vibrating Grizzly Feeder High Grade Bin ROM Bin ཚིག གང གྱུར བར ཡིགང ཅན ཆད པའི བྱས ནུས ལ ཅིག ཆས ན བཅད ཆག ལ བ ར བྱ བ Primary Crusher CL-or Optional DMS Circuit Classification Cyclone P60-125um От Low Grade Bin Secondary Crusher Coarse Reject Stockpile Fleets SAQ Mill (F-15 Tertiary Crusher Pacifico Minerals Ltd -D Crushing Screen 12 mm DMS DMS Feed Bin LOW GRADE PROCESSING Concentrate Filter Concentrate Thickener Concentrate Thickener Flotation Concentrate Container Loading Pacifico Minerals Limited ASX:PMY Sulphide Rougher Flotation Oxide Rougher Flotation Recleaner Flotation Cleaner Flotation U U Flotation Talings Tailings Thickener Эта Tailings Storage Facility 13#14Regional exploration potential Eight Mile Creek - Exploration Licence E80/5317 M 80/285 Pacifico Minerals Ltd DARRMALANKA RESERVE M 80/196 ALPHA BETA NORTON OMEGA M 80/197 AB M 80/286 • 100% owned by Pacifico • Covers 217 km² of relatively underexplored tenure immediately south of Sorby Hills 30 km of along-strike geology highly prospective for deposits similar to Sorby Hills Native title/mineral exploration agreement has been executed providing employment and economic opportunities and collaboration with traditional owners • High resolution gravity survey over the northern half of E80/5317 has been completed and data is currently being reviewed Soil sampling and stratigraphic drilling being planned for 2021 MIRIM HIDDEN VALLEY NATIONAL PARK Sorby Hills Project (Pb-Ag-Zn) E 80/5317 M 80/287 Pacifico Minerals Limited ASX:PMY Map Area NT OLD WA SA NSW BARRBEM RESERVE Potential Extension of Mineralisation Corridor WESTERN AUSTRALIA NORTHERN TERRITORY 5 km MGA Zone 52 PACIFICO TENEMENTS ☐ 1100 Mining Lease Exploration Licence Planned Drilling Planned Gravity Survey Stations Proposed Pit Outline Deposit Outline Major Road Minor Road Track Image: PMY 100% owned E80/5317 to the south of the Sorby Hills JV Project. 14#15The Silver & Lead Markets Pacifico Minerals Limited ASX:PMY 15 145#16Lead and Silver in the clean energy economy Lead Lead batteries are a key in the transition to a low carbon economy, applications include: • . Electric Vehicles 12V lead batteries power the EV battery management and safety systems. 'Stop-start' technology requires batteries with. 25% more lead¹; E-bikes - Roughly 15 million are sold each year in China alone²; and 5G network base stations - high lead consuming application with a Chinese. production: increase of 134% in 2018¹. Predicted growth in lead demand - CAGR of 6.74% between 2018 and 20223. Silver Silver's industrial applications, particularly in emerging green industries, provides a supply-demand overlay to the traditional storage of wealth thematic. Silver is the best-known conductor of electricity. Solar Photovoltaics (PV) cells - Silver's use in photovoltaics grew by 7% in 20194. Silver demand edged higher in 2019 to 991.8 Moz, up 0.4% whist production declined by 1.3%4. Electric Traction Motor, Power Electronics Controller DC/DC Converter Thermal System (cooling). 1. The Assay Group Mining Magazine (https://www.theassay.com/articles/lead-5-things-to-look-for-in-2019), 2. ASX: G1A Feb 2019 Origin: Wood Mackenzie, 3. Business Wire (www.businesswire.com/news/home/20180803005303/en/Global-Lead-Market-Analysis-Trends-Forecasts-2018-2022), 4. The Silver Institute www.silverinstitute.org Pacifico Minerals Limited ASX:PMY ALL-ELECTRIC Charge Port Transmission Onboard Charger 12V Lead-Acid Battery Pacifico Minerals Ltd Traction Battery Pack 16#17Exposure to the silver market The recent surge in the price of Silver has been reflected in the Pacifico share price demonstrating the significance of the precious metal in the value of Sorby Hills Relevance for shareholders • • PMY market price likely to continue to reflect Silver price movement. Robust Project economics supported by a diversified revenue stream increasingly driven by industrial demand. The Sorby Hills Mineral Resource Estimate of 44.1Mt at 3.3% Pb, 38 g/t Ag and 0.5% Zn equates to 44.1 Mt at 128 g/t Ag Eq. Zn is not included in Ag Eq calculation, Refer to appendix for Ag Equivalent calculations See Slide 6 for full Mineral Resource Estimate Trading Volume (millions) 100 75 175 50 25 Chart Source: ASX, CHI-X, COMEX, Terra Studio -25 Ag US$20/oz Pacifico Minerals Ltd $0.04 Ag US$30/oz $0.03 Ag US$25/oz $0.02 $0.01 Ag US$15/oz $0.00 Nov Dec Jan Feb Ma Apr May Jun Jul Aug Sep Oct Nov -$0.01 I PMY Trading Volume PMY Share Price US$ Silver Price Pacifico Minerals Limited ASX:PMY Share Price (A$\sh) 17#18Outlook Pacifico Minerals Limited ASX:PMY Prom: 79.45 18#19Project financing • Pacifico Minerals Ltd Pacifico has engaged with the Northern Australia Infrastructure Facility ("NAIF") in regard to financing for the Project NAIF is an Australian Federal Government organisation with an aggregate of A$5 billion of debt finance which may be lent on concessional terms to support infrastructure development that generates public benefit for northern Australia. • NAIF undertakes a four-stage assessment process when considering projects that it will finance. • Sorby Hills has passed through Stage 1 and Stage 2 and is now within NAIF's Due Diligence Stage. • Subject to Sorby Hills successfully passing through Stage 3 and Stage 4, NAIF has the ability to fund up to 100% of the Project Debt providing the Commonwealth overall does not have the majority risk in a project. Pacifico will continue to assist NAIF with its required due diligence investigations regarding participation in any potential debt facilities to fund Sorby Hills' development. At this stage, NAIF has not made any decision to offer finance and there is no certainty that an agreement will be reached between the parties. Stage 1 Stage 2 Stage 3 Stage 4 NAIF Enquiry and Preliminary Assessment Stage Strategic Assessment Stage Due Diligence Stage Investment Decision and Execution Stage Australian Government Northern Australia Infrastructure Facility Pacifico Minerals Limited ASX:PMY 19#20Development timeline providing significant newsflow On track to become a significant Lead-Silver producer in Western Australia Milestone Updated Resource Estimate Pre Feasibility Study Maiden Ore Reserve Estimate Securing Funds to reach Decision to Mine Status Phase IV Drilling and Updated Resource Estimate Definitive Feasibility Study Permitting and Approvals Financing and Offtake Process Front End Engineering Design Decision to Mine Project Award Current timeline Ongoing Ongoing Ongoing Ongoing Start Q3 2021 Q4 2021 CY2020 CY2021 Q4 Q1 Q2 Q3 Pacifico Minerals Ltd 00 Q4 20#21Corporate summary • Share Price Shares on Issue Capital structure (as at 7 December 2020) Market Capitalisation Debt Cash Options & Perf. Rights ASX-listed base metal developer and explorer. Experienced Board and Management with a proven track record in mineral exploration and mine development. 1 234566 VILLIERS QUEENSLAND PL ZERO NOMINEES PTY LTD A$0.018/share 3,804 million shares¹ A$68 million Nil A$15.5 million 53.5 million² Resource inventory² comprising 1.5Mt of Lead and 54Moz of Silver. • Chairman Board Composition and Management Gary Comb Managing Director and CEO Non-Exec. Director Non-Exec. Director Project Manager Simon Noon Richard Monti Andrew Parker Kevin Reynolds Exploration Manager Simon Dorling 100 • Top 10 shareholders hold 35% of issued capital. Major Shareholders CITICORP NOMINEES PTY LIMITED NATIONAL NOMINEES LIMITED BRENT CONNOLLY AIGLE ROYAL SUPER FUND PL CRAIG CHAPMAN Trading Volume (millions) 75 50 50 25 25 Pacifico Minerals Ltd PFS Release $0.04 Mineral Resource Update $0.03 10.20% 4.49% 3.53% Entrober $0.02 $0.01 2.86% 2.81% 2.23% $0.00 2.23% Nov Dec Jan Feb Mar Apr May PMY Trading Volume Jun Jul Aug PMY Share Price Sep Oct Nov Share Price (A$\sh) 1. 152,179,552 post 1:25 consolidation (subject to shareholder approval at AGM 23 December 2020) 2. 10 million Unlisted Options exercisable at A$0.02 exp 16 Oct 2021; 43.5 million Performance Rights 3. See Slide 6 for full Mineral Resource Estimate Pacifico Minerals Limited ASX:PMY 21#222021 and Beyond BOAB METALS LIMITED NEW $ 暖 New Kimberley focussed company name Pacifico Minerals Ltd New share structure highly attractive to long term institutional investors* $15M plus in Cash Reserves and funded through to a decision to mine Add value through the completion of a Sorby Hills Definitive Feasibility Study 2023: Become signature Lead-Silver producer * Subject to obtaining Shareholder approval at the 2020 AGM Pacifico Minerals Limited ASX:PMY 22#23Thank you Simon Noon - Managing Director ☑[email protected] www.pacificominerals.com.au Pacifico Minerals Ltd#24VOLVO19 VOLVO Appendix Pacifico Minerals Ltd#25PFS capital and operating costs Pacifico Minerals Ltd Capital Cost Estimate Operating Cost Estimate¹ Capital Item A$M Cost Centre ASM A$/t ore A$/lb² US$/lb² Pre Production Mining 24.3 Mining 347 23.48 0.33 0.23 Process Plant incl. EPC fee 105.4 Processing 292 19.80 0.28 0.20 G & A 107 7.28 0.10 0.07 Infrastructure 20.5 Transport 108 7.35 0.10 0.07 Owners Costs 13.1 Lead Treatment Charges 161 10.93 0.15 0.11 Contingency 19.6 C1 Costs excl. Credits 1,016 68.85 0.97 0.68 Total Pre-Production CAPEX 182.8 Silver Revenue (431) (29.21) (0.41) (0.29) Sustaining Capital 32.2 Silver Refining Charge 20 1.38 0.02 0.01 Total CAPEX 215.0 C1 Costs incl. Credits 606 41.03 0.58 0.40 Throughput Capacity - Mtpa 1.50 Lead Royalty 59 59 4.01 0.06 0.04 Concentrate Produced - '000 dmt 806.8 Silver Royalty 10 0.70 0.01 0.01 Upfront Capex A$ per tonne throughput capacity 122 Sustaining Capex 32 2.18 0.03 0.02 227 AISC³ 707 47.91 0.67 0.47 Upfront Capex A$ per tonne concentrate 1. PFS assumptions include lead price US$2,095/t, and silver price US$21.1/oz and A$1=US$0.70. 2. Unit costs quoted as pounds (lb) Lead Payable, 3. No Interest Charge has been assumed Pacifico Minerals Limited ASX:PMY 25#26PFS life of mine metrics Pacifico Minerals Ltd Item Unit Base Case Item Unit Base Case Economic Assumptions Cash Flow Lead Price US$/t 2,095 Lead Revenue A$M 1,422.3 Silver Price US$/oz 21.10 Silver Revenue ASM 431.1 Exchange Rate A$:US$ 0.70 Gross Revenue A$M 1,853.3 Physicals Royalties A$M (69.5) Life of Mine (LOM) Years 9.9 TC/RC & Transport A$M (290.3) Mined Ore KBCM 5,161 Net Revenue A$M 1,493.6 Strip Ratio BCM: BCM 8.0x Processed Tonnes kt 14,760 On Site Operating Costs A$M (746.3) Processed Lead Grade % 3.63 Net Operating Cash Flow A$M 747.3 Processed Silver Grade g/t 39.5 Upfront Capital Cost A$M (182.8) Lead Recovery % 93.3 Sustaining Capital Costs A$M (32.2) Silver Recovery % 80.3 Net Project Cash Flow (Pre-Tax) A$M 532.3 Recovered Lead kt 500.2 Value Metrics Recovered Silver Moz 15.1 Pre-Tax NPV8 A$M 303.4 Concentrate Produced kdmt 806.8 Payable Lead kt 475.2 Pre-Tax IRR % 46 Payable Silver Moz 14.3 Pre-Tax Payback Period¹ Years 1.6 1. Payback calculated from first production. Pacifico Minerals Limited ASX:PMY 26#27Mineral Resource Estimate Mineral Resource Estimate. Reported at cut-off of 1% Pb (Pb domains only). Pacifico Minerals Ltd . Updated Mineral Resource Measured Indicated Inferred Total Estimate undertaken by Deposit Mt independent consultants CSA Pb Ag Zn (%) (g/t) Pb Ag Zn Pb Ag Zn Pb Ag Zn Mt Mt Mt (%) (%) (g/t) (%) (%) (g/t) (%) (%) (g/t) (%) A 0.6 6.1 32 1.2 0.6 6.1 32 1.2 Global Pty Ltd and reported to the ASX in June 2020. B 0.5 4.3 24 0.3 1.3 4.2 Omega 4.2 4.3 45 0.4 9.2 3.2 22 24 29 འཐ 0.3 1.8 4.3 24 0.3 0.4 2.5 3.0 23 0.6 15.8 3.5 32 0.4 . Demonstrates the potential to incorporate more high-grade material into the Sorby Hills Mine Plan. Norton 2.4 4.3 83 0.3 2.2 3.4 38 0.5 16.0 2.5 30 0.4 20.6 2.8 37 0.4 Alpha Beta 1.0 2.8 50 0.6 1.0 3.4 85 1.4 2.0 3.1 67 1.0 3.3 4.6 61 0.4 3.3 4.6 61 0.4 Total 7.1 4.3 57 0.4 13.7 3.3 31 0.4 23.4 3.00 36 0.5 44.1 3.3 38 0.5 The information presented above is extracted from the report entitled "Mineral Resource Update Sorby Hills Pb-Ag-Zn Project" released on 2 June 2020 and is available to view on www.pacificominerals.com.au/. • Contained Lead Metal and Resource Tonnage versus Cut-Off grade (Measured & Indicated Only). Contained Lead within the Measured and Indicated portion of the Resource is only marginally susceptible to a change in cut-off grade. The result demonstrates the impressive robustness of the Sorby Hills Resource. Resource Tonnes 25,000,000 20,000,000 15,000,000 10,000,000 0 TONNES Pb Tonnes 0.5 0 1 1.5 2 2.5 3 Cut-off Pb % Pacifico Minerals Limited ASX:PMY 800,000 600,000 400,000 200,000 Contained Lead Metal 27#28Board and management Experienced Board and Management with a proven track record in exploration and development. Pacifico Minerals Ltd Gary Comb Chairman Engineer with over 30 years' experience in the Australian mining industry, with a strong track record in successfully commissioning and operating base metal mines. Simon Noon Managing Director and CEO Experienced executive with a strong background in strategic management, finance, capital raising and securing and operating joint ventures with mid to top tier miners in a variety of commodities. Richard Monti Non-Exec. Director Geologist with over 30 years' experience in technical, commercial, marketing and finance within the exploration and mining industry. Andrew Parker Non-Exec. Director Lawyer with extensive experience in the exploration and mining industry. Wealth of expertise in corporate advisory, strategic consultancy and vast experience in raising capital. Kevin Reynolds Technical team Simon Dorling Project Manager Experienced metallurgist and project development manager of 30 years, covering mining and metallurgical operations, project development, process development, feasibility studies and project execution. Exploration Manager Geologist with more than 26 years' experience in exploration, development and the mining of base metals, precious metals, energy minerals and industrial minerals. Pacifico Minerals Limited ASX:PMY 28#29Equivalent calculation The contained metal equivalence formula is based on the Sorby Hills PFS including: • Lead Price US$2,095/t; • Silver Price US$21.1/oz; • • Lead Equivalent Calculations Silver recovery of 80.3% (weighted average of oxide and fresh Ag recoveries); and Silver Payability rate of 95%. Silver Equivalent Calculations Lead recovery of 93.3% (weighted average of oxide and fresh Pb recoveries); and • Lead Payability rate of 95%. It is Pacifico's opinion that all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold. The formula used to calculate lead equivalent grade is: Metal Eq (percent) = Gpri + (Gpri [Σ; R;S; V; G; ]/(Rpri Spri V pri Gpri)) where R is the respective metallurgical metal recovery rate, S is the respective smelter return rate, V is metal price/tonne or ounce, and G is the metal commodity grade for the suite of potentially recoverable commodities (i) relative to the primary metal (pri). Pacifico Minerals Ltd Metal equivalents are highly dependent on the metal prices used to derive the formula. Pacifico notes that the metal equivalence method used above is a simplified approach. The metal prices are based on the PFS values adopted and do not reflect the metal prices that a smelter would pay for concentrate nor are any smelter penalties or charges included in the calculation. Owing to limited metallurgical data, zinc grades are not included at this stage in the lead equivalent grade calculation. Pacifico Minerals Limited ASX:PMY 29