Illinois Creek Project Exploration Update
Pipeline of High-grade Silver Polymetallic Projects Over the Last 10 Years
Our select future peers and what their projects tell us
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Low initial Capex due to smaller thruput
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Total Opex costs of $100-120/tonne (~130-155 gpt AgEq cutoff)
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Superior Economics
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Quick payback
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High IRR's
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>10 Moz/annum AgEq production profile
Contained HG AgEq
Company
Deposit
Stage
Million Tonnes Grade AgEq g/t
Market Cap US$
Moz**
SilverCrest
Las Chispas
Production
3.4
719
79
987
Mag Silver
Juanicipio*
Production
25.0
663
234
848
Adriatic
Vares
Production
7.3
485
114
721
Vizsla
Copala
Resource
10.3
549
182
356
WAM
Waterpump Ck
Initial Resource
2.4
980
75
32
**
*100% project basis shown (Mag Silver - 44% basis)
company basis
Sources: for this data on this slide and slides 20,26,27: company presentations and reports, SEDAR
All project resources not reported - only high-grade Proven and Probable reserves and potential high-grade resources >500 gpt AgEq
Market cap based in FD shares and trading as of Feb 1, 2024
TSX-V: WAM
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