Advance Metals Limited · ASX:AVM
Advance Metals — JMM Investor Lunch, Perth, 16 February 2026
31 slides from Advance Metals's conference presentation, Feb 16, 2026
Slide 1: ASX Announcement: Corporate Presentation
ASX Announcement (ASX:AVM) 16 February 2026 Corporate Presentation Advance Metals Limited (ASX:AVM) (“Advance” or “the Company”) provides the attached updated corporate presentation associated with the Company's presentation at the JMM Investor Lunch held in Perth on 16 February 2026. End For furthe
Slide 2: Advance Metals Accelerates Growth to Become Mexico's Next Major Silver Developer
ASX:AVM For personal use only INVESTOR PRESENTATION Advance Metals Accelerates Growth to Become Mexico’s Next Major Silver Developer February 2026 Advance Metals Limited
Slide 3: Disclaimer
DISCLAIMER For personal use only This presentation has been prepared by Advance Metals Limited (“Advance”, “AVM” or the "Company"). This presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person, or published, in whole or in part, for any purpose wit
Slide 4: Managing Director and CEO statement
For personal use only “ DR ADAM MCKINNON, MANAGING DIRECTOR AND CEO “This marks a defining moment for Advance. With over 100Moz silver-equivalent already in hand and a clear strategy to double that, we’re positioning Advance as Mexico’s next significant silver growth story. Our three3 high-grade ass
Slide 5: Corporate Overview
COMPANY BACKGROUND For personal use only Corporate Overview Company Advance Metals Limited Code AVM Market Capitalisation as at 13 Feb 2026 $66.9M Cash on hand as at 31 Dec 2025 $11.0M Shares on Issue 477,798,006 Listed Options (AVMO) 157,803,964 Unquoted securities 128,094,509 Significant Sharehold
Slide 6: Board, Management and Advisory Board
BOARD, MANAGEMENT AND ADVISORY BOARD For personal use only David O’Connor, Non-Executive Chairman David is a highly accomplished mining executive with over 40 years of international experience spanning exploration, development, and M&A. He is currently Chief Geologist at AbraSilver Resource Corp. (T
Slide 7: Investment Highlights
INVESTMENT HIGHLIGHTS For personal use only Advance Metals is transforming into a pure-play precious metals Company, targeting +200Moz* AgEq through aggressive growth in Mexico and discovery across multiple district-scale projects 1 100Moz AgEq Endowment & 2 Positioned in the Heart of Mexico’s 3 Rap
Slide 8: Creating a Major Mexican Precious Metals Player
ADVANCE ACCELERATES GROWTH TO BUILD MEXICO’S NEXT MAJOR SILVER DEVELOPER For personal use only CREATING A MAJOR MEXICAN PRECIOUS Sierra Madre Occidental Volcanic Belt METALS PLAYER Surrounded by key silver producers Source: Mexican Geological Survey
Slide 9: Becoming a Major Silver Player in Mexico
BECOMING A MAJOR SILVER PLAYER IN MEXICO For personal use only Mexico produces 25% of global silver supply 25,000 Global Silver Production (Metric Tonnes) Source: US Geological Survey, 2024
Slide 10: AVM High-Grade Silver Portfolio in Mexico
AVM HIGH-GRADE SILVER PORTFOLIO IN MEXICO For personal use only Foreign Estimate Grade (AgEq)* Acquired (AgEq)* Guadalupe y Calvo 60.6Moz Yoquivo Project 17.2Moz Gavilanes 22.4Moz TOTAL 100.2Moz *Advance’s total endowment includes 17.23Moz AgEq from the Yoquivo Project (see ASX AVM 28 October 2024 a
Slide 11: Mexican Project Locations
MEXICAN PROJECT LOCATIONS For personal use only High grade Mexican silver-gold projects cement AVM as a major mexican precious metals player in the world-class Sierra Madre Occidental Belt Investor Presentation I October 2025 ASX:AVM 10
Slide 12: Yoquivo Silver Project Overview
YOQUIVO SILVER PROJECT OVERVIEW For personal use only Yoquivo Silver-Gold Project Consists seven mining located 210km WSW of the city of concessions totalling 1,975 ha Chihuahua, Chihuahua State, Mexico Lies within the Sierra Madre Large precious metal mines within Volcanic Belt, the principal silve
Slide 13: Yoquivo drilling history and plan
MEXICAN PROJECT LOCATIONS For personal use only From 2020 to 2022, Golden Minerals completed 16,565m of drilling at the Yoquivo Silver Project Golden Minerals reported bonanza grade drilling intercepts of silver across its three previous drilling campaigns AVM’s maiden drilling program commenced May
Slide 14: Strong Results from Recent Drilling at Yoquivo
STRONG RESULTS FROM RECENT DRILLING AT YOQUIVO For personal use only Figure: Schematic long section showing previous drilling at Pertinencia, colour-coded by silver-equivalent multiplied by down hole, along with Figure: Schematic cross section looking NNE showing significant down hole intersections
Slide 15: Emerging Bulk Tonnage Potential at Yoquivo
EMERGING BULK TONNAGE POTENTIAL AT YOQUIVO For personal use only Figure: Schematic long sections of the Pertenencia area at Yoquivo showing drilling with Figure: Schematic cross section looking NNE showing significant down hole intersections for recent AVM hole YQ-25-010 down hole assays of 200g/t A
Slide 16: Guadalupe y Calvo Gold-Silver Project
GUADALUPE Y CALVO GOLD-SILVER PROJECT For personal use only Guadalupe y Calvo Gold-Silver Project located 300km WSW of the city of Chihuahua, Chihuahua State, Mexico Consists ten mining concessions totalling ~27.5km2 Current Indicated and Inferred NI43-101 Foreign Estimate containing 60.6Moz AgEq at
Slide 17: Guadalupe y Calvo Gold-Silver Project
GUADALUPE Y CALVO GOLD-SILVER PROJECT For personal use only Over 190 years of mining since discovery in 1835 2Moz gold, 31Moz silver mined in historic production from British/North American companies pre-WWII Modern exploration began in early 2000s with 86,000m of core drilling by previous operators
Slide 18: Gavilanes Silver Project Overview
GAVILANES SILVER PROJECT OVERVIEW For personal use only Figure: Gavilanes Silver Project location Gavilanes Silver Project located in the San Dimas mining district of Durango, Mexico Hosted in the Sierra Madre Volcanic Belt - the principal silver & gold mining province of Mexico Lies ~23 km northeas
Slide 19: Gavilanes Silver Project
GAVILANES SILVER PROJECT For personal use only 13,500 hectares with 11 mining concessions Three mineralised zones (Gavilanes, Central and Western zones) Gavilanes Zone: 15km2 Central and Western Zones not yet mapped in detail The deposit remains open at depth, with indications of increasing copper a
Slide 20: What's Next for AVM's Mexico Projects
WHAT’S NEXT FOR AVM’S MEXICO PROJECTS For personal use only Yoquivo Silver-Gold Gavilanes Silver Guadalupe y Calvo, Project Project Gold-Silver Project Extensive sampling of untested High resolution Lidar survey High resolution Lidar completed, historic core completed, completed, maiden drilling res
Slide 21: Australian Gold Projects
AUSTRALIAN GOLD PROJECTS For personal use only STRATEGICALLY LOCATED IN THE HEART OF AUSTRALIA'S VICTORIAN GOLDFIELDS, A REGION RENOWNED FOR PRODUCING OVER 80MOZ OF GOLD
Slide 22: Myrtleford and Beaufort Gold Projects, Australia
MYRTLEFORD AND BEAUFORT GOLD PROJECTS, AUSTRALIA For personal use only AVM holds the right to acquire an 80% interest in the Myrtleford and Beaufort Gold Projects against a backdrop of record high gold prices Projects acquired from Serra Energy Metals, who has spent A$6 million on exploration, on ad
Slide 23: Myrtleford Project Overview
MYRTLEFORD PROJECT OVERVIEW For personal use only Figure: Myrtleford Gold Project, Victoria (modified after ASX AVM 20 May 2025) Figure: Plan of the southeastern portion of the Myrtleford Project highlighting current stautus of drilling in the Happy Valley Trend (ASX AVM 21 January 2026).
Slide 24: Myrtleford Project - AVM Recent Drilling
MYRTLEFORD PROJECT - AVM RECENT DRILLING For personal use only High-impact initial diamond drilling program commenced in early 2025 High grade gold mineralisation confirmed from surface to over 500m depth AMD001 8.2 metres at 28.8g/t Au, incl. 3.4 metres at 68.2g/t Au AMD002 2.9 metres at 6.4g/t Au,
Slide 25: Myrtleford Project – Strong Gold Results
MYRTLEFORD PROJECT – STRONG GOLD RESULTS For personal use only 24 Figure: Composite image of a gold-bearing laminated quartz vein (left) from AMD003, with close-up images highlighting the visible gold at 180.0 Figure: Composite core image from AMD003 highlighting individual grades from 178m down hol
Slide 26: Next Steps for the Myrtleford Project
NEXT STEPS FOR THE MYRTLEFORD PROJECT For personal use only BREAKTHROUGH AT HAPPY VALLEY ● High grade gold intersected in 140m below the deepest previous intersection ● System now extends over 500m vertically and remains open in all directions ● Confirms potential for a large, continuous high-grade
Slide 27: Exploration Outlook for Advance Metals
EXPLORATION OUTLOOK FOR ADVANCE METALS For personal use only *Note: timings are indicative only and subject to change.
Slide 28: Contact
CONTACT For personal use only Dr Adam McKinnon Jane Morgan & Abbey Phillipps Managing Director and CEO Investor & Media Relations +61 (0) 411 028 958 +61 (0) 405 555 618 [email protected] [email protected] [email protected] Unit 6, Level 1, 389 Oxford Street
Slide 29: Appendices
For personal use only APPENDICES
Slide 30: Foreign Estimates for Yoquivo and Gavilanes
FOREIGN ESTIMATES FOR YOQUIVO AND GAVILANES For personal use only Table 1: Yoquivo Project – Foreign Estimate1 as at February 2023 Average Grade Contained Metal g/t AgEq Tonnage Class Cutoff (Kt) g/t AgEq2 g/t Ag g/t Au Moz AgEq Moz Ag koz Au Inferred 200 937 570 410 2.1 17.2 12.3 64 Table 2: Gavila
Slide 31: Foreign Estimate for Guadalupe y Calvo
FOREIGN ESTIMATE FOR GUADALUPE Y CALVO For personal use only Table: Foreign Estimate completed in 2021 for the Rosario and Nankin Veins at the Guadalupe y Calvo Project, including combined Indicated and Inferred totals. Average Grade Contained Metal Tonnes Class Type Ag Au AgEq AuEq Moz Koz Moz Koz
Advance Metals — JMM Investor Lunch, Perth, 16 February 2026 on 6ix