SS1 and Pan American Silver, page-2

Sun Silver Ltd's primary asset in Elko, Nevada, is the Maverick Springs Silver-Gold Project.This project holds significant reserves and resources, with an updated JORC Inferred Mineral Resource as of August 2024 stating:

• 418 million tonnes at 42.2 g/t Silver (Ag) and 0.31 g/t Gold (Au)

• This translates to 396.5 million ounces of contained silver and 3.2 million ounces of contained gold.

• In terms of silver equivalent (AgEq), the resource is 680 million ounces of silver equivalent (AgEq) at 68.29 g/t AgEq.

It's important to note the following:

• Antimony Discovery: Sun Silver has also announced significant antimony intercepts at Maverick Springs, highlighting the project's potential as a multi-commodity resource. This is a critical mineral with strategic importance, particularly for the U.S.

  
  

• Ongoing Exploration: The company is continually conducting drilling campaigns and re-assay programs to potentially increase and upgrade the existing resource, as well as to further define the antimony mineralization.

  
  

• Nevada Location: The Maverick Springs Project is located in a globally recognized mining jurisdiction, 85km from Elko, and is surrounded by other world-class gold and silver operations.

  
  

Sun Silver views Maverick Springs as a significant asset, and is also exploring the potential for downstream value-add, such as the production of silver paste for the solar industry, in the U.S.