Andean Silver (ASL) Beaver Creek presentation summary

Project overview and resource scale

• Cerro Bayo project in Chile hosts a 91Moz AgEq resource with high grades of 342g/t AgEq, including multiple shallow, high-grade silver-gold lodes and significant exploration upside.

• The project benefits from over A$150M in existing infrastructure, including a 500ktpa processing plant, water rights, power, and permitted tailings storage.

• Multiple mining fronts are ready for rapid, low-cost restart, with both open pit and underground options and a history of strong metallurgical recoveries.

• The land package covers over 400km² with district-scale exploration targets and more than 100Moz AgEq produced historically.

• Resource growth is ongoing, with recent upgrades and continued drilling targeting further expansion.

Exploration and growth potential

• Extensive surface outcrop veins and new high-grade discoveries, such as the Cristal and Pegaso 7 veins, highlight ongoing exploration success.

• The Droughtmaster corridor and Los Domos zone offer significant regional upside, with high-grade polymetallic mineralization and walk-up drill targets.

• The project area remains underexplored, with multiple untested vein corridors and a 26km strike system.

• Two drill rigs are currently active, with plans to increase to four and a target of 40,000m drilling in FY25.

• Historic production of 48.3Moz AgEq and new discoveries continue to add value.

Infrastructure and operational readiness

• Infrastructure includes a 1,650tpd flotation plant, 12MW power facility, water rights for 815 l/s, and a deep-water port 100km away.

• Six independent underground mines and over 30km of development are connected to power, water, and air.

• Environmental approvals and a permitted tailings storage facility are in place, supporting a rapid restart.

• Over A$6M in critical spares and equipment are available on site.

• Skilled local workforce and proximity to the mining town of Chile Chico enhance operational efficiency.