Silver Bow Mining (SBMT) investor relations material

Executive summary

• Focused on exploration of mineral properties in Montana, primarily silver, zinc, gold, lead, and copper; no commercial production or established mineral reserves as of March 31, 2026.

• Completed an IPO on May 1, 2026, raising $54.6 million in net proceeds to fund exploration and working capital.

• Expanded management and organizational structure in preparation for increased operational activity and public listing.

Financial highlights

• Net loss for Q1 2026 was $3.0 million, a 46% improvement from $5.6 million in Q1 2025, mainly due to lower stock-based compensation.

• Cash and cash equivalents at March 31, 2026 were $7.5 million, down from $10.6 million at year-end 2025.

• Working capital surplus of $6.9 million as of March 31, 2026.

• Mineral properties increased to $42.8 million from $38.3 million at year-end 2025, reflecting new acquisitions.

• Total assets grew to $51.3 million, with total liabilities at $5.0 million.

Outlook and guidance

• Management expects a significant increase in exploration and overhead costs for the remainder of 2026 as exploration activities ramp up.

• Anticipates cash expenditures of approximately $35 million over the next 12 months for exploration and working capital.

• Management believes current liquidity and IPO proceeds are sufficient to meet obligations for at least 12 months.