Gatos Silver Investor Presentation Deck
Opportunities - CLG Asset Optimization
Strategic margin improvement projects being studied
Pyrite Circuit
+ CLG continues to optimize silver recoveries to lead
and silver concentrates, currently achieving ~88.5%
+ Majority of losses to tailings are as binary
associations with gangue, and as silver sulfosalts
▪ Not recoverable in zinc / lead flotation circuits
+ Studying potential to recover additional silver / gold
▪ New pyrite flotation circuit followed by
leaching and Merrill-Crowe to produce dore
Targeting +3-4% silver and +4-5% gold
▪ Several examples of this type of circuit in other
silver/zinc/lead operations
■
Expected to have low capital cost, with design
leveraging some existing and unused
equipment
+ Scoping level assessments completed
Advancing with additional metallurgical test
work, flowsheet design and assessment of
permitting implications
GATOS
SILVER
Copper Circuit
+ Copper mill feed grades currently ~0.07%, with
~60% recovered to the lead concentrate
+ Copper grades are expected to increase and provide
a substantial potential contribution to revenues,
primarily in the SE and SE Deeps zones
▪ In-situ value of copper in most SE Deeps drill
intercepts is higher than lead, and in some
instances is higher than zinc
+ Studying potential to add a copper recovery circuit
to produce a separate copper concentrate to
maximize potential revenues
Mill Expansion
+ Operation is currently mine constrained
+ Mill has potential to achieve ~3,500 - 4,000tpd with
minor upgrades to motor, power and other
equipment
+ To be considered by partners only after reserve /
resource expansion
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