Silver Bow Mining (SBMT) Corporate presentation summary

Rainbow Block resource and exploration

• Inferred resource: 170.0M oz AgEq from 10.4 Mt at 507.4 g/t AgEq; reported grades include 146.7 g/t Ag, 1.7 g/t Au, 4.59% Zn and 1.25% Pb.

• The resource is above the modeled water table; inferred resources are not reserves and do not demonstrate economic viability.

• A 25,000-ft surface drill program began in May 2026; 13,500 ft and nine holes were completed by Sept. 1, with assays reported for the first four holes.

• SBM26-03 intersected 4.0 m at 994.2 g/t AgEq, including 2.3 m at 1,586.1 g/t; true widths are estimated at 60–80% of downhole lengths.

• Step-out drilling intersected the Badger Vein 455 m east of the resource blocks; multiple veins were intercepted in all holes completed to date.

Underground access and district expansion

• More than 40 polymetallic veins are included in the initial resource; digitized legacy plans and sampling include 15,000 channel samples and 180 drill holes.

• Chief Joseph Portal rehabilitation is complete, and decline work is underway; planned access supports underground drilling and a 10,000-ton bulk sample for metallurgical testing.

• Planned underground work includes drill stations, the Rainbow and Goldsmith declines, and Lexington Tunnel rehabilitation over the next 24 months.

• Patented claims total 4,210 acres, including 1,427 acres of surface lands; the Rainbow Block covers 878 acres, including 215 acres of surface rights.

• Goldsmith and Great Republic blocks were secured without royalties, covering approximately 328 and 863 acres of private mineral rights, respectively, with historic Ag, Au and Zn production.

Processing complex and environmental setting

• A definitive agreement covers acquisition of the Jefferson County Metallurgical Complex, 55 miles from Rainbow Block; the bankruptcy court approved the sale on Sept. 4, 2026, subject to final closing conditions.

• The complex includes separate 15,000-tpd and 1,000-tpd milling and flotation circuits, tailings, crushing and ore storage facilities, infrastructure and a 5,000-acre land position.

• The 1,000-tpd circuit is expected to suit Rainbow Block mineralization and could provide processing flexibility as development pathways are evaluated.

• At final closing, terms provide for 3.5M contingent value rights converting to shares after 180 days, plus up to 11.5M deferred compensation CVRs tied to milestones.

• Environmental matters are described as federally regulated and actively managed, with established monitoring and treatment protocols and remediation obligations limited to surface remediation.