Silver47 Exploration

Investor Insight

With a focused exploration strategy aimed at expanding its 2024 inferred resource and increasing its precious metals ratio, Silver47 is a compelling investment story, well-positioned to capitalize on the increasing global demand for silver, gold, copper, zinc, antimony, tin and graphitedriven by its vast industrial applications and investment potential.

Overview

Silver47 Exploration is a North American-focused company dedicated to discovering and developing silver-gold rich deposits across its portfolio: Red Mountain in Alaska, Adams Plateau in British Columbia and the Michelle Project in Yukon. Silver47’s flagship project is the Red Mountain polymetallic VMS deposit, which has a 2024 inferred resource of 168.6 million ounces (Moz) of silver equivalent (15.6Mt at 335.7 g/t AgEq). This resource is equivalent to 2 Moz gold at about 4 g/t.

Silver47 has an “Exploration Target” for the Red Mountain Project of 50-75Mt at 300-400 g/t AgEq including the current resource.

Silver47 plans to rapidly expand its resource base to unlock the silver, copper and gold value in its deposits. In addition, zinc, lead, tin, antimony and graphite occur in abundance on its projects and value-add from these critical minerals is expected through further exploration.

Silver is critical in both industrial applications and as an investment asset. The global demand for silver is rising due to its essential role in electronics, renewable energy, such as solar, and other significant, new technologies in AI components, and AgZn and AgC batteries. Around 60 percent of silver demand comes from industrial use, while 40 percent is driven by bullion, coins and jewelry. With a silver supply deficit of 240 Moz, demand is expected to continue increasing.

Company Highlights

• Silver47 Exploration wholly owns a diverse portfolio of silver-polymetallic projects across North America, including Red Mountain VMS (Alaska), Adams Plateau (British Columbia) and Michelle (Yukon).
• In 2022, Silver47 made a significant new silver discovery at the Michelle project with 7.68m of 1,577 g/t Ag, 45 percent Pb, 4 percent Zn within 15m of 907 g/t Ag, 26 percent Pb, 2.7 percent Zn at the Silver Matt Target, Michelle Project.
• The Red Mountain VMS project currently holds an inferred resource of 168.6 million ounces of silver equivalent, with the “Exploration Target” of 500 to 900 Moz silver equivalent through further exploration.
• The Company’s focus on rapid resource growth and new discoveries for silver, copper, and gold is supported by an extensive number of targets identified across its properties.
• Silver47 is poised to capitalize on increasing global demand for silver, driven by its critical role in industrial applications including solar, Ai and AgZn, AgC batteries and investments.
• A projected silver supply deficit of 240 Moz further strengthens the market outlook.
• Backed by an experienced technical and management team, and led by seasoned geologist and company builder Gary R. Thompson, the team brings decades of successful experience in mineral exploration.
• Aggressive drill programs are planned to rapidly advance its projects toward development.

Key Projects

Red Mountain VMS Project (Alaska):

The Red Mountain VMS Project is the Company’s flagship asset, located approximately 100 kilometers south of Fairbanks, Alaska. This project is a polymetallic VMS deposit, rich in silver, gold, zinc, copper, and lead. As of January 2024, Red Mountain holds an NI 43-101 inferred resource of 15.6 million tonnes (Mt) at 7 percent zinc equivalent, or 168.6 Moz of silver equivalent at a grade of 335.7 grams per ton (g/t) silver equivalent. The project is located in a mining-friendly jurisdiction on state managed lands with reasonable access to infrastructure.

The Western half of the Red Mtn claim group has a SEDEX affinity compared to the VMS targets of the Eastern half of the project. Initial exploration of the Horseshoe SEDEX target identified shallow dipping mineralized horizons over a broad area with rock grab samples returning up to 37.9 g/t Ag, 3.81 g/t Au, 4.6 percent Zn, 2.6 percent Pb (see images below).

Silver47’s exploration target for Red Mountain is estimated between 50 and 75 Mt, with an expected grade of 300 to 400 g/t silver equivalent.

The Red Mtn Project has immense growth potential with the many underexplored target areas with precious metals, base metals, tin and antimony.

Adams Plateau Project (British Columbia, Canada):

The Adams Plateau Project is located 100 km NE from Kamloops, British Columbia, Canada and has great road access with infrastructure nearby. The Adams Plateau Project shares similarities to the VMS-SEDEX style deposits of the Company’s Red Mountain Project. Numerous showings of massive sulphide have been located across the 150 sq km project.

Historical drilling on the Adams Plateau Project has returned 4.8m of 348 g/t Ag, 0.72 g/t Au, 2.7 percent Pb+Zn at the Spar Target with surface rock grabs up to 4000 g/t silver, 7 percent copper. Recent rock samples collected by Silver47 have returned (3503 g/t Ag, 1.0 g/t Au, 29 percent Pb+Zn) and (1380 g/t Ag, 6.5 g/t Au, 25 percent Pb+Zn).

Michelle Project (Yukon):

The Michelle Project is located in north central Yukon, Canada, a territory known for its high mineral potential. This project is situated in a highly prospective geological region that has 22 surface showings of Ag-Pb-Zn mineralization with critical minerals like gallium and antimony. Silver47’s first season of exploration on the project led to a new and exciting silver discovery at the Silver Matt showing. Geochemical analysis suggests that these targets are MVT type sediment hosted mineralization.

In 2022, Silver47 confirmed a new silver discovery at the Michelle Project with 7.68m of 1,577 g/t Ag, 45 percent Pb, 4 percent Zn within 15m of 907 g/t Ag, 26 percent Pb, 2.7 percent Zn in hole MCH22-002 at the Silver Matt Target. Surface samples at Silver Matt have returned up to 4180 g/t Ag, 82 percent lead.

Mineralization with sulphide and oxide at 39m depth in MCH-22-002, Silver Matt Target.

The Company is waiting for a Class 3 permit for drilling from the Yukon government, which has been delayed due to a flawed (YESAB) Yukon Environmental and Socio-economic Assessment Board’s no-go decision in late 2022. The project has been pushed into a judicial review. During the land use planning process in this area all parties agreed to honour existing mineral claims.

Management Team

Gary Thompson (P.Geo.), Founder, CEO and Director

Gary Thompson is a geologist with extensive experience in both exploration and building companies. He is the current Chairman and CEO of Brixton Metals and has held leadership roles in several successful ventures, including Sierra Geothermal Power, which was sold in 2010. In addition to his expertise in geology he has raised over $135 million of equity for exploration companies.

Kevin Chen (CPA, CMA), CFO

Kevin Chen brings a wealth of financial expertise to Silver47, having previously served as the CFO of prominent mining companies such as Gold Royalty and Uranium Royalty. With a strong background in finance and management, Chen oversees the Company’s financial strategy and ensures it maintains a solid financial foundation for growth. His experience in the mining sector, especially with royalty companies, adds significant value to Silver47’s leadership team.

Alex Wallis (P.Geo.), VP Exploration

Alex Wallis is an accomplished exploration geologist with over 15 years of experience in international mineral exploration. He was previously a project manager with APEX Geoscience and the country manager for U3O8 Corp in Guyana. His technical expertise in mineral exploration and his leadership in guiding exploration projects bring critical knowledge to the Company’s ambitious resource growth strategies.

David Netherway - Independent Director

David Netherway is a seasoned mining engineer with over 40 years of experience in the industry. He has successfully built and sold five gold mines in West Africa and brings a deep understanding of mine development and operations. His strategic insights and engineering background provide Silver47 with valuable guidance as the Company moves closer to its development milestones.

Ryan Goodman - Independent Director

Ryan Goodman is a legal expert in the mining industry, currently serving as VP, Legal for Orezone Gold and previously at Aura Minerals. Mr. Goodman’s legal acumen and understanding of the regulatory landscape are key assets to Silver47.