Junior Mining Investment Pitch

Pipeline of High-grade Silver Polymetallic Projects Over the Last 10 Years Our select future peers and what their projects tell us • Low initial Capex due to smaller thruput • Total Opex costs of $100-120/tonne (~130-155 gpt AgEq cutoff) $ Superior Economics • Quick payback • High IRR's • >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 6

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