Silver Bow Mining Corp. · AMEX:SBMT
Silver Bow Mining — Investor Presentation (September 2026)
26 slides from Silver Bow Mining's investor presentation, September 2026
Slide 1: Building On Heritage. Exploring The Future.
Building On Heritage. Exploring The Future. CO R PO R AT E P R ESE N TA TI ON S E P T E M B E R 2 0 2 6 B U T T E · M O N T A N A · U S A RESPONSIBLE STRONG ENVIRONMENT VALUE EXPLORATION COMMUNITY STEWARDSHIP CREATION
Slide 2: Cautionary Note on Forward-Looking Statements
Cautionary Note on Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of applicable Canadian secur
Slide 3: Technical Disclosure
Technical Disclosure Mineral Resource Estimate: The Company's current Inferred Mineral Resource for the Rainbow Block is disclosed in the Technical Report Summary prepared in accordance with the requirements of Subpart 1300 of Regulation S-K titled, Technical Report Summary: Rainbow Block, Butte Min
Slide 4: Silver Bow Mining – Butte Silver-Zinc Project, Montana
Silver Bow Mining – Butte Silver-Zinc Project, Montana • Dedicated management team with over 200 years combined industry experience - Explorers, developers and operators • Rainbow Block Inferred Mineral Resource 1: 170 Moz AgEq (10.4 Mt @ 507.4 g/t) - Grades of 146.7 g/t Ag, 1.7 g/t Au, 4.59% Zn, an
Slide 5: Explorers, Developers & Operators
Explorers, Developers & Operators Travis Naugle Doug Stiles Wade Black Kevin Shiell Phil Nickerson C H AI R M AN & CE O P RESIDENT C FO C OO V P , E X P L O R AT I ON More than 25 years advancing U.S. Deep experience in U.S. mining Capital markets executive with Mining executive with over 30 Economi
Slide 6: A Board with Industry and Capital-Markets Depth
A Board with Industry and Capital-Markets Depth Travis Naugle Quinton Hennigh, PhD Steve Durbin David McMullin Andy Holloway C H AI R M AN & CE O DIREC TO R DIREC TO R DIREC TO R DIREC TO R More than 25 years advancing U.S. Economic geologist with more President of Quail Bend Capital Senior executiv
Slide 7: Butte Mining District – A Proven Source of Critical Minerals
Butte Mining District – A Proven Source of Critical Minerals Badger Mine • By 1906, Butte mines produced approx. 20% of the world’s copper supply.1 • During World War I, Butte produced nearly one-third of all U.S. copper and it produced 98% of the manganese required for U.S. steel production during
Slide 8: Silver Bow Mining - Exploring “The Richest Hill on Earth”
Silver Bow Mining - Exploring “The Richest Hill on Earth” Badger Mine • Exploring the historic Butte Mining District, Montana - Focused on high-grade underground silver-zinc-gold-lead vein systems - Associated Critical Minerals including copper, manganese, germanium, gallium, and indium • Advancing
Slide 9: Inferred Resource: 170 Million Silver-Equivalent Ounces
Inferred Resource: 170 Million Silver-Equivalent Ounces R AI NB OW BL O CK 170.0 M oz 507.4 g/t (14.8 opt) 10.4 Mt (11.48 M tons) 137 g/t (4.0 opt) Ag Eq CONT AI NE D OU NCE S Ag Eq AV ERA GE GRADE AB OV E MIN E WAT ER T ABL E Ag Eq CU T-OF F GRADE NI 4 3- 10 1 ( M E TRIC UN ITS) Silver (Ag) Gold (A
Slide 10: Extensive Ownership of Mineral Claims and Surface Rights
Extensive Ownership of Mineral Claims and Surface Rights • 4,210 acres of patented mineral claims Marget Ann Block - Including 1,427 acres of surface lands Rainbow • Rainbow Block hosts the Goldsmith Block Block current Inferred Mineral Great Republic Resource Block - Comprises 878 acres of patented
Slide 11: Over a Century of Underground Development
Over a Century of Underground Development R AI NB OW BL O CK - L EG AC Y W O RKI N GS Rainbow Block Underground • More than 100 years of high-quality exploration, mining and assay data1 • Underground workings extend to depth of over 4,000 ft - Badger Shaft bottoms at ~4,167 ft¹ • Modeled vein solids
Slide 12: More Than 40 Modeled Veins Above the Mine Water Table
More Than 40 Modeled Veins Above the Mine Water Table • More than 40 polymetallic veins included in the initial Mineral Resource estimate • Digitized and modeled extensive Anaconda mine plans and sampling data • Historic data indicated additional vein systems present - Confirmed by Phase 1 drilling
Slide 13: Phase 1 Surface Diamond Drill Program Ongoing
Phase 1 Surface Diamond Drill Program Ongoing • 25,000-ft surface diamond drill program commenced in May 2026 • Targeting expansion of existing Mineral Resource - Tracing the Badger, State, Rainbow, Jessie and other vein systems along strike and both up and down dip - 13,500 ft of Phase drilling com
Slide 14: Highlights from Phase 1 Rainbow Block Drilling (as of Sept 1, 2026)
Highlights from Phase 1 Rainbow Block Drilling (as of Sept 1, 2026) From To Interval 1 AgEq 2,3 Ag Au Zn Pb In SBM26-03 - Badger Vein Hole ID Vein meters g/t % ppm 1,586.1 g/t AgEq SBM26-01 Silver City 7.3 9.5 2.2 616.6 552.0 0.41 0.11 0.79 0.07 306.8 m downhole SBM26-01 Edith May 212.3 214.0 1.7 63
Slide 15: Each Drill Hole Intersects Numerous Vein Systems
Each Drill Hole Intersects Numerous Vein Systems • Results to date demonstrate strong precious and base metal enrichment • Main vein systems continue from surface to depth and new veins are being outlined (the “unnamed veins”) • Intersected veins are located outside of the current Mineral Resource S
Slide 16: Drilling Extends Badger Vein 455 m East of Current Resource
Drilling Extends Badger Vein 455 m East of Current Resource • Significant step-out drilling traces vein systems, including the Badger Vein, from the current Mineral Resource blocks • Badger Vein splays off from the State Vein • SBM26-02 intersected the Badger Vein 455 m (1,500 ft) east of current Re
Slide 17: Underground Access Re-established at Rainbow Block
Underground Access Re-established at Rainbow Block CHIEF JOSEPH PORTAL REHABILITATION COMPLETED • 12 x 14 ft Chief Joseph Portal is located at the eastern end of the Rainbow Block • Provide underground exploration drilling platforms • Access veins for 10,000-ton bulk sample for metallurgical testing
Slide 18: Planned U/G Exploration and Development – Next 24 Months
Planned U/G Exploration and Development – Next 24 Months Goldsmith Planned underground exploration in the next 24 Decline months includes: Rainbow Decline - Chief Joseph decline rehabilitation ongoing - Development of drill stations to enable accelerated definition drilling and exploration of new ta
Slide 19: Expanding our Portfolio - Goldsmith & Great Republic Blocks
Expanding our Portfolio - Goldsmith & Great Republic Blocks Goldsmith • Recently secured the Goldsmith and Great Block Republic Blocks with no royalties Great Republic • Goldsmith Block None-Such Vein Block System - Approximately 328 acres of private mineral rights Moody-Sankey Vein System - Veins a
Slide 20: Anaconda’s Northwest Project
Anaconda’s Northwest Project • Anaconda formulated the Northwest Project, a plan to construct the Ryan Shaft with a planned hoisting capacity 14,000 tons per day Ryan Shaft Moose Shaft • Designed as a 4,300-ft central hoisting platform for Marget Ann mined material from: ‒ the Rainbow Block ‒ other
Slide 21: A Managed, Well-Defined Environmental Setting
A Managed, Well-Defined Environmental Setting Active Stakeholder Engagement Managed Environmental System Butte-Silver Bow Administration · Atlantic Richfield Federally regulated remediation site with long- · Montana Technological University · U.S. EPA · established monitoring, treatment, and complia
Slide 22: Jefferson County Metallurgical Complex Acquisition
Jefferson County Metallurgical Complex Acquisition • Recently signed definitive agreement to acquire the Jefferson County Metallurgical Complex • 55 miles from Rainbow Block Project • Consists of an integrated metallurgical complex: - Separate 15,000-tpd and 1,000-tpd milling and flotation circuits
Slide 23: Summary of Transaction Structure and Considerations
Summary of Transaction Structure and Considerations Jefferson County Metallurgical Complex Definitive Agreement • Under the terms of the definitive agreement, Silver Bow Mining will acquire 100% ownership of the Complex at Final Closing, free and clear of liens • Company has funded approximately US$
Slide 24: Silver Bow Mining Share Structure / Market Capitalization $234M
Silver Bow Mining Share Structure / Market Capitalization Capital Structure SBMT April 2026 29,568,500 Issued & Outstanding NYSE American Initial Listing 4,099,341 Options, RSUs & Warrants 33,667,841 Fully Diluted 33.67 M 21.7% $234M Top Institutional Shareholders Market cap Crescat Portfolio Manage
Slide 25: The Silver Bow Mining Investment Case
The Silver Bow Mining Investment Case 1. Large, high-grade silver-dominant 6. Significant exploration upside: current resource: ~170M oz AgEq at attractive resource constrained above the water table underground grades, providing strong with multiple untested vein extensions and leverage to silver pr
Slide 26: Potential Catalysts for Value Creation
Potential Catalysts for Value Creation Execute 25,000-ft surface drill program targeting Resource Expansion vein extensions to expand the resource base Upgrade Inferred Mineral Resources to higher- Resource Upgrade confidence categories through U/G drilling Evaluate Critical Mineral potential includ
Silver Bow Mining — Investor Presentation (September 2026) on 6ix