Sierra Madre Gold and Silver (SM) investor relations material

Operational achievements and production highlights

• Achieved on-time, on-budget restart of silver mine in Mexico, producing 150,000–190,000 oz of silver per quarter since late 2024.

• Opened Coloso and Nazareno mines, now feeding higher-grade ore to main facility.

• Q2 revenue reached $5 million with $1.2 million net profit, prior to recent silver price surge.

• Current production facility operates at 500 t/d, with plans for significant expansion.

• Resource base stands at 50 million oz of silver, with ongoing drilling to increase resources.

Expansion strategy and future plans

• Fully funded plan to triple production over 24 months, targeting 3 million oz of silver annually.

• Capacity to increase from 500 t/d to 800 t/d in 12 months, then to 1,500 t/d by end of 2027.

• Production costs expected below $22/oz, with strong margins if silver prices remain high.

• Expansion involves adding a crusher and ball mill, optimizing existing infrastructure.

• Exploration to focus on high-potential targets like El Rincón and underexplored district areas.

Management, ownership, and investor base

• Leadership team has extensive experience, with multiple successful mine startups in Mexico.

• Over 60% of shares held by institutional and long-term investors, including management.

• Management and founders retain 21% ownership, reflecting strong alignment with shareholders.

• Recent financing attracted major investors such as Eric Sprott and Fidelity.

• Company covered by Beacon Securities and VSA for research.