Andean Silver (ASL) RRS Summer Series Brisbane Conference presentation summary

Project scale, grade, and infrastructure

• Cerro Bayo hosts a resource of 91Moz AgEq (1.09Moz AuEq) with an average grade of 342g/t AgEq (4.1g/t AuEq), and infrastructure including a permitted 500ktpa mill is in place and ready for restart.

• Over 100Moz AgEq have been produced historically, with multiple mineralization styles and a known system extending over 25km of strike.

• The project benefits from established infrastructure, skilled local workforce, and strong community support, being the largest private employer in the region.

Exploration and resource growth

• Three drill rigs are active, targeting resource growth, conversion, and new discoveries, with a resource update due in Q1 2025.

• Significant high-grade discoveries at Cristal, Pegaso 7, and Coyita trends, with notable intercepts such as 1.1m @ 13,218g/t AgEq and 2.9m @ 555g/t AgEq.

• Regional exploration includes the Droughtmaster corridor and Los Domos, both showing exceptional surface grades and district-scale potential.

Financial and corporate structure

• Market capitalization is A$186M with a share price of A$1.17 and cash position of A$26M as of February 2025; no debt.

• Board and management hold 30% of shares, with significant institutional support from global investors.

• The company is well-funded for its 2024-2025 work program, planning up to 40,000m of drilling in FY25.