Investor Presentaiton
Cerro Las Minitas
2023 Resource Estimate
2023 Mineral Resource Estimate (as of March 22, 2023 using a US$60/t NSR cut-off);
Indicated - 140Moz AgEq 42.7Moz Ag, 46Mlb Cu, 364Mlb Pb and 903Mlb Zn (349g/t AgEq; or US$130 NSR/t)
Inferred - 210Moz AgEq: 80.0Moz Ag, 101 Mlb Cu, 571Mlb Pb and 1,029Mlb Zn (311g/t AgEq or US$123 NSR/t)
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SouthernSilver
EXPLORATION CORP
Indicated Resources
Average Grade
Contained Metal
Zone
Tonnes
(Kt)
Ag
Au
Pb
Zn
Cu
AgEq
ZnEq
NSR
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
(%)
(US$/t)
Ag Troz
(000's)
Au TrOz
(000's)
Pb
Zn
Cu Lbs
AgEq TrOz ZnEq Lbs
(Mlbs)
(Mlbs)
(Mlbs)
(000's)
(Mlbs)
Blind Zone
2,347 97
0.04
1.9
2.1
0.11
295
7.2
108
7,350
3
99
109
5.5
22,291
371
El Sol Zone
1,154
80
0.04 2.2
2.0
0.09
279
6.8
100
2,956
2
55
51
2.2
10,337
172
Skarn Front Zone
7,254
108
0.06
0.8
4.2
0.19
383
9.3
140
25,106
14
126
678
30.7
89,421
1,490
La Bocona Zone
1,755
130 0.18
2.2
1.7
0.21
326
7.9
136
7,331
10
84
65
8.0
18,406
307
Total
12,510
106
0.07
1.3
3.3
0.17
349
8.5
130
42,742
29
364
903
46
140,455 2,341
Inferred Resources
Average Grade
Contained Metal
Zone
Tonnes
(Kt)
Ag Au
Pb
Zn
Cu
AgEq
ZnEq
NSR
Ag Troz
Au TrOz
(g/t)
(g/t)
(%)
(%)
(%)
(g/t)
(%)
(US$/t)
(000's)
(000's)
Pb
(Mlbs)
Zn
Cu Lbs
AgEq TrOz ZnEq Lbs
(Mlbs)
(Mlbs)
(000's)
(Mlbs)
Blind Zone
1,347 83
0.14
1.4
1.8
0.06
248
6.0
88
3,582
6
40
55
2
10,749
179
El Sol Zone
Las Victorias Zone
863
1,083
65
0.03
1.8
2.3
0.05
263
6.4
90
1,816
1
35
43
1
7,283
121
148
0.66
2.1
2.6
0.14
431
10.5
145
5,152
23
51
62
62
3
15,006
250
Skarn Front Zone
11,466
115 0.05
0.7
2.7
0.32
318
7.7
126
42,462
18
177
687
80
117,065 1,951
South Skarn Zone
La Bocona Zone
Total
3,789 140 0.18 2.0
2,481 125 0.17 1.8
21,030
118 0.12 1.2
1.3
0.09
309
7.5
130
17,007
22
167
112
7
1.3
0.13
285
6.9
120
9,977
14
100
71
7
2.2
0.22
311
7.6
123
79,997
85
571
1,029
101
37,660
22,702
210,464 3,507
628
378
Notes:
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The current Resource Estimate was prepared by Garth Kirkham, P.Geo., of Kirkham Geosystems Ltd.
All mineral resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum ("CIM") definitions, as required under National Instrument 43-101 ("N143-101").
Mineral resources were constrained using continuous mining units demonstrating reasonable prospects of eventual economic extraction.
Silver Equivalents were calculated from the interpolated block values using relative recoveries and prices between the component metals and silver to determine a final AgEq value. The same methodology was
used to calculate the ZnEq value.
Silver Equivalents and NSR$/t values were calculated using average long-term prices of $20/oz. silver, $1,650/oz. gold, $3.25/lb. copper, $1.0/lb. lead and $1.20/lb. zinc. All prices are stated in $USD.
Mineral resources are not mineral reserves until they have demonstrated economic viability. Mineral resource estimates do not account for a resource's mineability, selectivity, mining loss, or dilution.
An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of
Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
8)
All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.
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