Andean Silver (ASL) Noosa Mining Conference 2026 summary

Project Progress and Resource Growth

• Cerro Bayo project acquired over two years ago, with significant infrastructure including a 2 Mtpa crushing circuit, 14 MW power station, mill, assay lab, and facilities, with 100 million ounces produced historically.

• Resource expanded from 25 million to 136 million ounces since May 2024, with updated resource at 20 million tons @ 211–212 g/t AgEq for 136Moz AgEq, including 55Moz silver and 1Moz gold.

• Share price rose from AUD 0.20 to AUD 2.0, with a market capitalization of A$394M as of July 2026.

• Team and board have strong experience in Latin America and globally, with deep expertise in resource development, finance, and operations.

• Financial position is robust with A$53.4M cash and no debt.

Exploration and Drilling Activities

• Recent drilling at Coyita underground, Trinidad vein system, and other targets yielded highest grades to date, with intercepts up to 62,663g/t AgEq.

• New exploration at Juanita Prospect revealed 60,000 g silver equivalent at surface; Juanita mapped as a 2 km high-grade vein system with drilling planned over the next 12–24 months.

• Substantial untested potential in Laguna Verde and Droughtmaster corridors, with Droughtmaster (4–8 km vein system) scheduled for drilling in the second half of 2027.

• District-scale opportunities at Los Domos (polymetallic) and Cerro Diablo (VMS style), with walk-up drill targets and exceptional surface samples.

• Geophysical surveys and mapping have identified new undercover deposits and confirmed mineralogical consistency.

Infrastructure, Community, and Operations

• Project benefits from proximity to town, highway, and deep-water port for concentrate export, with infrastructure and processing facilities in place and permitted.

• Embedded in local community, with 90% of workforce sourced locally, strong government and regulatory support, and ongoing engagement with schools and community.

• Workforce expected to reach 500–600 people, with career pathways for local students and a team of 80 in Chile plus 200 contractors.

• Metallurgical recoveries for gold and silver are high (85–93%), supporting robust project economics.

• The project is positioned in a stable jurisdiction with a clear regulatory framework and a history of significant regional economic contribution.