Outcrop Silver & Gold (OCG) 2025 Precious Metals Summit - Beaver Creek summary

Market and industry outlook

• Silver prices are at two-year highs, driving excitement and strong performance among high-grade silver projects.

• The sector is entering a robust silver bull cycle, with supply deficits supporting higher prices.

• Valuations for high-grade silver projects are closely tied to silver price and ounces in the ground.

Project development and resource growth

• The Santa Ana project in Tolima, Colombia, is among the highest-grade undeveloped primary silver projects globally, with 73% of value in silver.

• Resource estimates grew from 37 million ounces in 2023, with a target to reach at least 60 million ounces by early Q1 next year.

• Six new high-grade vein discoveries were made in the past year, expanding the resource base.

• Drilling is ongoing, with a 30,000-meter program planned for 2024 to support the next resource update.

Financial position and funding

• Fully funded with $5 million in the bank and $4 million in warrants expiring soon, plus $20 million more in-the-money warrants.

• Not dependent on new private placements; future financing will be considered only if terms benefit shareholders.

• Market cap has doubled from $75 million to $150 million, with growing institutional interest.