Pacifica Silver Corp.

Thank you, Eric, and thank you everybody for coming to the presentation. Before we get into it, this company is the first time presenting at the Denver Gold Show. The company’s about 15 months old and I’ll give you an update on where things are today. So forward-looking statements, re-read this at your discretion.

So 13 years at First Majestic taught me what it takes to have a great silver project. Claudia checks all the boxes. You’ve got a large land package in Mexico and a great jurisdiction with over 30 kilometers of veins that have been mapped, and virtually only 10% of those have ever been drill tested. And it’s growing today. The team, there’s a slide coming up with the team and our experience. Today we’ve got four rigs. We have a 30,000 meter drill program fully funded and a very tight share structure with some fantastic shareholders, as you’ll see on the slide coming up here.

So again, we’ve got a lot of experience in Mexico from discovery, to development, to production, to M&A. And the guys that are running the day-to-day stuff, the management team, I won’t read the names here, but I’ll highlight one gentleman who just recently joined us, our VP of Exploration, Stephen Reddick. Stephen spent the last eighteen years at Hecla. He was their exploration manager at San Sebastian. He spent virtually his entire career working with epithermal vein systems, so great to get his caliber to join our team, and he’s leading the charge at site.

So shares outstanding, 78 million shares, very tightly held. Today we’ve got about $20 million still in the bank. On the right-hand side, you can see our shareholders. We have three corporates as our strategic shareholders, and then a few other of the silver gurus in the silver space. But overall a fantastic group of support. And then we also have research coverage from Raymond James, Craig Stanley. Our largest shareholder is Durango Gold. You can see there with 13%. They are in the process of divvying those shares out to their underlying shareholders. We expect in the next month or two that that will actually happen. And then obviously that piece of pie will go away. But a big chunk of that is held by the current insiders and advisors of Pacifica, so it’s gonna go into strong hands.

So we’re in the metal endowment of Mexico, specifically silver and gold here. This is a very large land package, over 37 contiguous mining concessions. We’ve got some major mines around us. I’ll zoom in here a little bit more regionally. So we’re two hours just north of the city of Durango. We’re right up the highway there. Infrastructure is just as important as geology. Now, if you find it, but you can’t build it, what’s the value of it? We’re blessed to have the town of Santiago Papasquiaro, 10 minutes from the site. There’s 50,000 people that live there, skilled labor, restaurants, hotels. We won’t need to build a camp, ’cause everybody can drive back to town and sleep in a bed and have a hot shower.

We’ve got power that runs right across the project and connects some of these mines to the west of us, like La Sierra, Topia, Guanasave. So anyways, again, we’re blessed to have all the ingredients to build something here. To the south, you can see that’s Teotita, number two. Further south is Panuco. To the east of us, number 25, it’s hard to read, but that’s Piteria. So we’re surrounded by some very big deposits and mines.

So here’s the map of the concessions. So again, as I said, we’ve got over 30 kilometers of veins that have been mapped on surface here. And virtually over the last 50 years, all the exploration has been focused in that green little box. I should have mentioned earlier, this is the first time this project has ever been held in a public vehicle, a standalone public vehicle. It’s been held by private mining families, going back to the early eighties, nineties. And it was a past producer for a few years in the early nineties. But this is a very long, it’s a epithermal vein system swarm in Mexico. It’s 11 kilometers north to south and about 3 kilometers east to west.

We have now, for the first time ever, started drilling outside of that green box. And we’re gonna have some results here come out in the next two weeks on some of the drilling to the south. And we’re gonna actually now start stepping out to the north here in the next month. But the grades here are fantastic. You can see there’s a historical reserve. It’s not a historical resource, but it is a historical reserve of almost 4 grams gold and a couple hundred grams silver. There was a potential mineralization, you can see, resource. This one vein that you see this gentleman standing on, this is the Aguilerita vein outcrop. This was a 12-meter wide outcrop that they found, drilled 30 holes into in the nineties and took it right in production. They actually sunk a 100 meter shaft into this area and developed 3 kilometers of underground development and didn’t really extract a lot of ore from what we can tell, but quite extensive infrastructure.

If you do the calculation on the tons, it works out to 77 million ounces of silver plus 1.5 million ounces of gold that the prior owner did internally that would just be in that green box. So conceptually, if that amount of metal is in that green box, there could be 5 or 10 million ounces of gold on this project. It just takes time to prove it out, and that’s what we’re doing.

So the reason why this project really exists is because over the tens of millions of years, this area has been eroded away, and you can see this orange area. This is the erosional window that has exposed the lower volcanics, and all the veins and structures, which makes it easy to explore. To the north, you can see there’s four principal veins here that are trending to the north up to that area called Lizeth, the Lizeth vein swarm, which is a very exciting area. There’s a massive outcrop up there that has never been drilled. We’re hoping to get up there to drill in Q1 of next year, and that could be a potential game changer, if it pans out, which there’s some high expectations. The typical vein width that we’re seeing ranges from 1 meter to 10 meters. We have hit some stockwork zones of 50 meters of half a gram gold that potentially could come into a mine plan down the road. But for the most part, again, standard vein, 1 to 10 meters.

So these are some of the drill results from late last year. After closing the deal and raising $10 million, within three weeks, we had the first drill rig out on this site. We completed 29 holes late last year, and you can see we had actually a new discovery called Justina to the south. It’s kinda hard to see on this map. But the majority of the focus of drilling has been around the Aguila Rena vein. That’s where the old headframe is in. We extended the strike length now to close to 2 kilometers of this vein. And the grades here are fantastic. Six meters of 3 grams gold, 300 grams silver, and you can read them for yourself. But we’ve got fantastic grades and great widths and again, we’re just scratching the surface.

So we’ve got four rigs today drilling. We are now testing some of these areas to the east called the HL vein, the Santigada, Santig arada vein as well. The 30,000-meter drill program should be completed by the end of the year. As of today, we’ve completed about 23,000 meters of that program. We completed an IP survey a few months ago, a 32-kilometer line IP survey. And I know this says the magnetic drone survey is scheduled for Q4, but we actually just completed that as well, and we’re just digesting the results of that program.

So some of the results to date in 2026, the last news release we put out was in late July. You can see four and a half meters of 8 grams gold, plus some silver. Within that, 2 meters of 17 grams gold and over 100 grams silver. That was the highest gold grades we’ve hit on the project. And then the line below that, two and a half meters of almost 900 grams silver with some gold. And within that, there was about half a meter of over five kilos of silver, which was the highest silver hit that we’ve had on the project. So again, more of the same, I think, to expect here in the future.

This is what those results have now put together, this long section. This was just updated this past week. So you can see we’ve got a couple of ore shoots here potentially developing. Now, this two-kilometer-long vein, this is just one vein. We’ve got another 13 to go test. You can see in the middle here, the shaft, that was a 100-meter shaft that they went in. You can see some of the underground development. This system is still open to the north, it’s still open to the south, and it’s still open to depth. The next news release that will be coming out from Pacifica will be the results from the southern extension here. And it’s likely we’re gonna be able to announce that we’ve extended this now to almost two and a half kilometers long.

There’s some shallow holes you can see here proposed in green. We’re gonna be pulling two of the rigs up here in the next few weeks to start testing some of these ounces. The good thing is, these are near surface. These aren’t 800 meters down, 900 meters down. These are high quality, high margin ounces. And again, we’re still scratching the surface on here. These squares are 300 meter squares. So the deepest hole here is about 260 meters. La Sierra, which is to the west of us, they’re 900 meters deep now. They’ve been operating for the last 35 years. They started at the same elevation back in the early nineties, so the potential here to go deeper is extremely high.

But this is our district. This is one of a cross-section. Again, it’s not the best display of it, but it shows you the strike here potential. This area to the north, again, Lizeth, I’m quite excited about it. It’s higher up in the system, so we know we’re gonna have to go deeper. But we control this entire… We don’t have any issues with third-party concession blocks. This area has been consolidated over the last 40 years. We own it all. We don’t have to worry about a major having a piece of concession here, which makes life a lot easier.

So just quickly, our timeline here, we’re just drilling away. That’s the plan. Drill, drill, drill. We just got some permits back a few weeks ago. Four hundred and ninety-one permits. Took us about six weeks from since we submitted that to Sepronat to get those drill permits back. And that’s really gonna open up the eastern side of the project and the northern part of the project.

You can see this is Lizeth, this outcrop on the bottom left. You can see some people standing on that. That’s about a 300 meter wide outcrop to the north. In the early 2000s, Capstone owned this for a year or two. This is where they were focused on. This is a pristine system that the Spaniards overlooked. They overlooked it because it’s high in the system. So you really have to go deeper here. You’re seeing low temperature quartz, you’re seeing arsenic levels, high arsenic levels, so you know you’re in the right spot, but you just have to go deeper. And as I said, we’re hoping to drill this in Q1.

The reason why I think we trade at such a deep discount to our peers is ’cause we don’t have a 43-101. We are working towards that. We just signed a QP or engaged a QP a few weeks ago. The plan is to have these four rigs continue drilling for the next six months. If we have a discovery, we might postpone this, or if we further extend the strike length. But we’re working towards that internally. We know we need to get something out, but we’re not in any kind of rush ’cause we have a lot more to go test.

I’ll just show you a quick photo, we’ve got some time here, of where we’re gonna be drilling next. This is right here, this is the northern extension of Aguilera. The team just actually took this photo a couple weeks ago. The drilling that we’ve done at Aguilera, you can see in the smaller square below it, and this is just the extension it looks like going to the north. And this vein runs right up that hill. So we’re gonna move a couple rigs up here, as I said, in a few weeks, and we’re gonna test this. And again, we could extend this to the north by another kilometer, and that could add a lot of ounces. And if we do hit with this, I think we’ll probably push that MRE back a bit, so we can bring some of these ounces into that estimate.

Here’s a manganese oxide cap. You know you’re in the hydrothermal system when you see this type of outcrop here. This area will be hopefully tested soon as well. This is again in that northern area. Here’s some low temperature quartz. This is the Lizath area. Again, just a beautiful… You don’t come across these types of systems anymore that are virgin, that haven’t been put at its in already. And that’s pretty much it. I’ll open it back up to questions if there are any.

Great. Thank you very much, Todd. Just a couple questions from me. If there’s anything from the audience, just raise your hand, we’ll bring the microphone around. But just in terms of Mexico itself, seems like there’s been a bit of a positive resurgence. Any comments on your experience so far in terms of getting permits and working with the local regulators?

Yeah, no, look, it’s night and day from what it was three or four years ago in Mexico. We’ve got a really good relationship with the state government there as well. Our team has had meetings with them a few times already, and they’re willing to help if we ever need any kind of help. But permit wise, so far so good. SEMARNAT has been very active and they come to site when we’re looking to do the permits, the local guys and, yeah, we haven’t had any delays or real issues. Again, we’re not at the MIA standpoint to have to put in our environmental impact statement. We’re obviously gonna work towards that. But, no, so far so good.

And I should have mentioned the drilling cost too. It’s $105 a meter to drill here because of the access. You compare that to parts of Nevada where you’re $400 or $500 a meter. And the quality of the people that work here, you couldn’t ask for a better situation, so your dollar goes a lot further.

Fantastic, actually. It’s a good segue, my next question was gonna be if you’ve had any issues getting rigs or operators and how your turnaround time and the assays back from the lab’s been.

Yeah, so we’ve just brought in a second contractor from Durango, which is great ’cause it competes, some competitive tension between the two contractors. We haven’t had any challenges getting rigs. There’s other additional rigs available if we need to bring some in. The labs have slowed down a bit, but we’re still getting assays back within about three or four weeks. There was a time where we were getting ’em back in 16 days, just a few months ago, but it has slowed down I think a bit. Some of the backlogs are starting to creep up. We use ALS, and so far so good for getting those back in a timely manner.

Great to hear. And maybe just time for one more question, but you mentioned power nearby, how about the infrastructure? What’s the infrastructure like where you guys are?

For the site infrastructure, it’s wonderful. We’re not up in the mountains of the Sierras. We have beautiful rolling hills. We have road access throughout. You literally turn off the highway and you’re on our project. We don’t have to fly in, we don’t have to use helicopters to move drill pads around. Again, it’s a dream project in a good location, safe location. Guys can work from sun up to sun down. It is higher in elevation. You’re about, I think, 6,000 feet. So you’re not in the deserts of Sonora where at 11 o’clock in the morning it’s already 40 degrees Celsius and you have to go inside and get out of the heat. And there’s plenty of structure to go out and pound hammers on, so. And then they can go sleep in a bed at night and get their rest, so.

All right. Fantastic. Sounds like lots of exciting stuff still to come. I look forward to those drill results, so thank you very much, Todd. Great to see you again.

Thank you. Cheers. [applause]