Sunshine Silver Mining & Refining (SSMR) Mining Forum Americas 2026 summary

Key investment factors

• Located in Idaho's Silver Valley, a prolific region with over 1.2 billion ounces of historical silver production, including 400 million ounces from the Sunshine mine.

• Resource quality highlighted by high grade, large size, and strong metallurgical recovery potential.

• Clear pathway to production by end of 2028, supported by permits, stakeholder backing, infrastructure, and an experienced team.

• Near-mine and district-wide exploration potential offers significant upside for resource and production growth.

• On-site, fully permitted processing facility can refine silver, antimony, copper, and potentially germanium and gallium.

Resource and production profile

• S-K 1300 mineral resource estimate completed in 2026: 264 million ounces of silver, with 104 million ounces Indicated at 1,022 g/t and 160 million ounces Inferred at 776 g/t.

• Sunshine is the highest grade silver resource in North America, with grades 2–3 times higher than other high-grade deposits.

• Resource supports a 24-year mine life and a 97% silver recovery rate, based on historical performance.

• Project aims to deliver 6.7 million ounces of silver annually in the first five years, potentially becoming the second-largest U.S. producer and supplying 16% of domestic demand.

• Plans to double mill throughput from 1,000 to 2,000 tons per day as part of ongoing feasibility work.

Strategic initiatives and timeline

• Team comprises Silver Valley veterans and industry experts focused on restarting production by 2028.

• Infrastructure and permits in place to support vertical integration, including a potential antimony plant and silver-copper refinery.

• Domestic refining is a strategic priority, addressing the current reliance on offshore facilities for silver and antimony.

• Updated mineral resource estimate expected in Q1 2027, with feasibility study completion targeted for Q2 2027.