Corporate Presentation · Corporate Presentation Sept 2020 IPT:TSXV / ISVLF:US / IKL:FR 14 Years of Exploration & Production Success in Mexico. Disclosure Forward-Looking Statements

Purest Silver Publicly Listed Company +90% Revenues from Silver

Corporate PresentationSept 2020

IPT:TSXV / ISVLF:US / IKL:FR

14 Years of Exploration & Production Success in Mexico

Disclosure

Forward-Looking Statements

This presentation may contain certain “forward-looking” statements and information relating to IMPACT Silver Corp. (“IMPACT” or the “Company”) that are based on thebeliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT management. Such statements reflect the currentrisks, uncertainties and assumptions related to certain factors including but not limited to, exploration and development risks, expenditure and financingrequirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships withvendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any oneor more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may varymaterially from those described herein. IMPACT does not assume the obligation to update any forward-looking statement. The factors that could cause actual resultsto differ materially include, but are not limited to, the following: general economic conditions; changes in financial markets; the impact of exchange rates; politicalconditions and developments in countries in which the Company operates; changes in the supply, demand and pricing of the metal commodities which the Companymines or hopes to find and successfully mine; changes in regulatory requirements impacting the Company’s operations; the ability to properly and efficiently staff theCompany’s operations; the sufficiency of current working capital and the estimated cost and availability of funding for the continued exploration and development ofthe Company’s exploration properties. This list is not exhaustive and these and other factors should be considered carefully, and readers should not place unduereliance on the Company’s forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levelsof activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy and completeness of these forward-lookingstatements.

Cautionary Statement

The Company’s decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processingoperations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company’s geologists andengineers. The results of this work are evident in the discovery and building of multiple mines for the Company, and in the track record of mineral production andfinancial returns of the Company since 2006. Under NI43-101 the Company is required to disclose that it has not based its production decisions on NI43-101-compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertaintyand risk of failure.

NI 43-101 Qualified Person

George Gorzynski, P. Eng., Vice President, Exploration and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for thetechnical information in this presentation with the exception of the Capire project mineral resource estimate. Steven Ristorcelli, C.P.G. (U.S.A.), Principal Geologist forMine Development Associates and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the Capire mineral resourceestimate and directly related information.

www.impactsilver.com TSXV:IPT / OTCPK:ISVL.F / DB:IKL2

Why IMPACT Silver?


Pure-play silver producer with

tremendous 5:1 leverage to

increasing silver prices

Near-term production growth

and near-mine exploration

upside

District exploration upside:

hundreds of vein targets and

>5,000 historic workings

across the property

Investment Highlights

• 100% ownership of two mineral districts covering 211

km2 in Mexico State in south-central Mexico

• In our 15th year of continuous production at the Royal

Mines of Zacualpan Silver District

• Over 10M oz of silver produced since acquiring the

operation in 2006

• Restarted operations in early June following Mexico-

wide suspension of mining activities due to COVID-19

• Strong balance sheet with ~C$6M in cash, no debt and

positive cash flow from operations

• Superior leverage to rising silver prices

• Experienced and proven leadership team

• Silver sale to largest electronics co in world Samsung,

potential non-dilutive expansion financing

One of the purest

play silver producers

~90% of revenues from

silver in Q1 2020

Long-term, stable

production

Over the last 12 months, sold

~695K oz Ag and generated

C$1.7M in mine-level EBITDA

Near-term

production growth

Expanding production from

Veta Negra OP mine. High-

grade veins traced over 650 m.

In Q1, sampled 205.7 g/t Ag

over 22.7 m width


Near-term

development

opportunity at Capire

Expandable 200 tpd mill and

4.6M oz Ag open pit resource.

Potential to lower costs through

DMS technology

Near-mine & district

exploration upside

Hundreds of epithermal vein

targets and >5,000 historic

workings across the property

Exciting new

Chapanial discovery

Sampled 97.5 g/t Au and 97.9

g/t Ag over true width of 0.8 m

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

IMP

AC

T S

ha

re P

rice

(C

$/sh

are

)

$10.00

$12.00

$14.00

$16.00

$18.00

$20.00

$22.00

$24.00

Silve

r P

rice

(U

S$

/o

z)Highly Leveraged to Silver PricesSilver vs IPT Share Price

• One of the best leveraged silver plays in rising silver market

– In 2016, 2019, and 2020’s recent silver rally, IMPACT’s share price generated significantly higher returns than holding silver bullion

– Every $1 increment in silver prices represents direct increases to profit and value of ounces in ground


Jan 4 – Aug 2,

2016:

854% return

Jan 4 – Aug 2,

2016: 50% return

Jun 4 – July 30,

2019:

90% return

Jun 4 – July 30, 2019:

12% return

Mar 2 – July

26, 2020

149% return

Mar 2 – July

26, 2020

37% return

Capital Structure

Tickers TSXV:IPT, US:ISVLF, FR:IKL

Share Price (Sept 13 2020) C$1.02

52-Week Range C$0.22 – C$1.25

Shares Outstanding (basic) 116.2M

Shares Outstanding (FD)* 152.7M

Market Capitalization (basic) C$118.3M

Cash & Cash Equivalents (C$M) C$5.9M

Debt (C$M) None

Enterprise Value (C$M) C$113.6M

Capital Structure

0.0

0.5

1.0

1.5

2.0

2.5

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

Jul-

19

Sep-1

9

Nov-1

9

Jan

-20

Mar-

20

May-2

0

Vo

lum

e (

millio

ns)

Sh

are

Pri

ce

(C

$)

Volume Price

12-Month Share Price Performance

Share Ownership

Retail 70%

Institutional Funds (Eric Sprott, Stabilitas, SilverETF, Commodity Discovery Capital) 20%

Management & Insiders 10%

*Includes 5,185,000 options outstanding with a weighted average exercise price of C$0.55 and 30,504,322

warrants outstanding with a weighted average exercise price of C$0.36

Source: S&P Capital IQ as of July 24, 2020


Experienced Management & Board

Frederick W. Davidson, CA,

CPA

President, CEO, Director

• +33 years of mining experience, including holding various senior positions at Erickson Gold Mines Ltd. and Mt. Skukum

Gold Mines. Former CEO of Energold Drilling Corp. and CFO of TOTAL Energold (a partially owned subsidiary of TOTAL Oil of

France with oil, gas and gold production)

• Former Director of Wheaten River Minerals (acquired by Goldcorp in 2014 for $2.4 billion)

• MBA from TUBC and CA, CPA

George Gorzynski, P. Eng.

VP Exploration, Director

• +35 years of exploration and mining experience

• Director of Fireweed Zinc Ltd.

Jerry Huang, MBA

CFO

• +10 years of venture capital markets experience raising over $100 million

• Former advisor for HNW at CIBC, director of gold/copper and lithium projects on TSX-Venture

• MBA from University of British Columbia and CPA PEP from CPABC

Armando Alexandri

COO

• +35 years of mining experience in underground and open-pit mines as well as flotation and cyanidation processing plants

Victor Tanaka, P. Geo

Director

• +40 years of exploration experience

• Current Director of Fjordland Exploration, Westhaven Ventures and Consolidated Woodjam Copper

• Held senior positions at Asamera Inc., Freeport McMoRan Gold Corp., Cominco Ltd., and Aber Resources

Richard Mazur, P. Geo, MBA

Director

• President and CEO of Forum Energy Metals Corp. and CEO of Alto Ventures Ltd.

• Held senior positions at Canamax Resources and IMPACT Minerals

Peter Tredger, P. Eng., MBA

Director

• Former Senior Officer of Thompson Creek Metals Company

• Held senior positions at Glencairn Gold (now B2Gold) and Wheaton River Minerals (now Goldcorp)

Robert W. Lishman

Director

• +40 years of investment industry and business experience with strong portfolio management and financing expertise

• Currently Managing General Partner of investment fund Yellowjacket, LP


Royal Mines of Zacualpan500+ Years of Production

Production summary so far

10M oz Ag produced since 2006

One of the purest silver producers with

90% of revenues from silver in Q1 2020


457

349

636

824750

834

621683

726

950 953908

744664

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Silver Production Since Acquiring the Project in 2006 (000 oz)

Summary of Operating Results

Production by Metal Value (Q1 2020)


Q2 2020 YTD Q4 2019 LTM 2019 2018 2017

Tonnes processed 65,139 36,528 144,627 140,878 173,217 194,266

Throughput (tonnes/day) 358 397 396 386 475 532

Average grade (g/t Ag) 178 182 174 173 159 172

Silver production (oz) 308,564 180,670 679,475 664,056 743,950 907,848

Lead production (tonnes) 113 78 278 275 329 481

Gold production (oz) 154 113 384 376 469 540

Silver sales (oz) 317,480 182,670 694,792 667,628 733,267 907,848

Lead sales (tonnes) 115 76 290 287 344 481

Gold sales (oz) 152 112 385 367 489 540

Revenue per tonne of ore

processed (US$)$97.26 $105.47 $92.76 $92.82 $74.88 $79.62

Direct costs per tonne of ore

processed (US$)$75.79 $82.60 $75.24 $82.55 $83.63 $76.49

Mine-level EBITDA (C$M) $1.27 $0.87 $1.66 $1.37 -$1.68 $0.47

Silver90%

Gold5%

Lead5%

• In late 2018, IMPACT shifted its strategy towards lower cost, higher grade production

• Led to a significant decline in operating costs per tonne and an improvement in average grade

• In Q1 2020, IMPACT started to gradually expand processed tonnes (11% higher mill throughput compared to Q1 2019)

• Q2 2020 will be impaired due to nation-wide suspension of mining operations due to COVID-19

• The Company is reassessing production plans in light of positive results from the Guadalupe Mine and Veta Negra open pit

Royal Mines of ZacualpanProperty Overview

• 100% ownership of two contiguous mining districts covering

211 km² in south-central Mexico

• A 3.5-hour drive southwest from Mexico City

– Paved road access

• Connected to a modern power grid with ample water supply

and a skilled, 99% Mexican workforce


• 535 tpd Guadalupe Plant processing mineral from three

underground mines (Guadalupe, San Ramon and Cuchara)

and the Veta Negra open pit mine (all within close proximity)

• 200 tpd Capire Pilot Plant is on care and maintenance

– Most recently used to bulk test the processing of gold and copper

feed from the Carlos Pacheco Zone

Royal Mines of ZacualpanOverview of Mining/Processing Assets

Guadalupe Processing Plant

• 535 tonnes per day capacity

• Currently processing all ore production

Veta Negra

• New small open pit

operation which

commenced production

in September 2019

• 4 km northwest of the

Guadalupe mill

• 17% of Q1 2020

production

San Ramon

• Began production in

2004

• Current high-grade silver

production from large vein

at depth – San Ramon

Deeps

• 22% of Q1 2020

production

Cuchara

• Began production in

2013

• Corridor of epithermal

veins linking new and

legacy mines

• Production is from

medium grade epithermal

silver and lead-zinc veins

• 23% of Q1 2020

production

Capire Processing Plant

• 200 tonnes per day capacity

• Care-and-maintenance (since Feb 2014)

Guadalupe

• Historic producer located

beside Guadalupe

processing plant and

restarted in 2018

• Epithermal silver-lead-zinc

veins

• 38% of Q1 2020

production

• Operations restarted in early June 2020 following the country-wide suspension of mining activities due to COVID-19

• IMPACT has an active virus monitoring, prevention and response program in place that complies with all government

health and safety standards

• Mine and local communities are currently COVID-19 free and have had only one case since the outbreak due to strict

travel and safety protocols

11

Royal Mines of ZacualpanProlific History of High-Grade Silver Mining

• One of the oldest mining districts in the Americas

– Almost 500 years of recorded mining history

• First mining district in the Americas to be granted status

of ‘Royal Mines’ of Zacualpan in 1531 by the Spanish

Crown

• IMPACT’s exploration work has catalogued over 5,000

old mine workings and 42 historic processing plants,

indicating extensive historical mining, large exploration

potential and forming an invaluable database for

modern and effective exploration

Nombre de Dios La Cadena

La Zorra El Calvario

La Fortuna

Some of the 42 historic processing plants in the Zacualpan District


Metal Zoning in Mineral Shoots

Geology of Epithermal Vein Systems

San Ramon Mine

Guadalupe Mine

Cuchara Mine

Carlos Pacheco/San Juan Zone

Chapanial Target

Silver-rich at top of shoot150 – 1,000 g/t Ag

Lead and zinc-rich at bottom of shoot50 – 120 g/t Ag

Gold-Copper at depths of 300 m +

Strike Length150 – 1,200 m (500 – 4,000 ft)

DepthSurface – 0 m (0 ft)

150 m (500 ft)

300 m (1,000 ft)

Metal Level in Mines


Manto America Bulk Tonnage Target

Mines and Processing Plants

• District is tilted exposing deeper copper-gold zone in

centre of property and shallower silver mineralization

to northeast

• Intrusive rhyolite cupolas and dykes indicate heat

source in centre drove mineralizing systems

Au/Ag Ratios in Veins

San PabloNortePregones

Campire VMS

Santa Teresa

Carlos Pacheco

San Ramon

Cuchara

Guadalupe


Significant Exploration Upside

• Exploration continues to evaluate the 5,000+ historic

mine workings located on hundreds of mapped veins

(red lines on map) on an extensive mineralizing system

• Area 1: Brownfields exploration for silver veins within

close trucking distance to the Guadalupe plant; area

includes the San Ramon, Cuchara and Veta Negra

mines

• Area 2: Early stage exploration for Zacualpan southeast

extension silver veins

• Area 3: Brownfields and greenfields exploration on

silver-rich VMS and vein targets; includes the open pit

Capire mine

• Area 4: Brownfields and greenfields exploration on

copper-gold and silver vein targets


1

4

3

2

Area 1:Veta Negra: Low cost mining with exploration upside

• Expanding profitable, low cost open

pit operation placed into operation

in less than 2 months

• Q1/2020 mining grades averaged

191 g/t Silver across widths of

14m to 22m

• Accounts for 18% of current

production and growing

• Mineralization traced in trenches

over 650 meters length in veins

and disseminations

• First drill program planned

1916

Area 1San Ramon: High-Grade Silver Mine with New Drill Results

• Underground drilling has been expanding the new deep,

high-grade silver vein at the San Ramon Mine

• July 2018 drilling discovered a new zone located 100 m

south of current mining operations

– 4.97 m of 345.4 g/t Ag & 2.04 m of 661.2 g/t Ag

• Zone remains open for expansion to the south, down dip

and up dip with additional drilling planned1.03-203-0.25-0.61

1.20-249-0.20-0.57

NIVEL 8

C/P DE EMERGENCIA PROY.

2000

1950

1850

2050

2100 2100

2000

1950

2050

1800

1750

1700

ENTRADA

SECCION LONGITUDINAL VETA INMACULADA

1900

TOLVA

FALLA

1900

1850

Xo a CARGADERO

1750

1700

RAMPA (-)

MPZ-183-141.15-31-0.03-0.02C/P

FALLA

NIVEL 18

3.75-198-0.07-0.17

PILAR DE PROTECCION

PILAR DE PROTECCION

MPZ-194-15

9.14-54-0.03-0.10

NIVEL 16.5

2.60 174 0.90 1.13ANC Ag g/t Pb% Zn%

SR14-03

MPZ-171-13BNO. ENERGOLDBNO. MINPOZA

BNO 8 BNO. PROPUESTO PARA MINPOZA

ZONA DE AMPLIACION RAMPA GRAL. (-)

ÁREA DE AMPLIACIÓN RAMPA GRAL. (-)

PROY. ÁREA DE AMPLIACIÓN RAMPA GRAL. (-)

NIVEL 14.5

1650 1650

NIVEL 21

1600

MINERA EL PORVENIR DE ZACUALPAN S.A DE C.V

MUESTREO : S V V

ESCALA 1 : 1000

LEVANTO : M G A

OCTUBRE 2019

REVIZO : F H R

MINA SAN RAMON

SECCION LONGITUDINAL

VETA INMACULADA

APROBO: F H R

1600

PLAZA DE EXPLORACION

NIVEL 12

ZONA INESTABLE

CAIDOS

NIVEL 13

ÁREA= 2319.41 m

TON.= 9352 T

200gr Ag - 0.20% Pb - 0.50% Zn.

2

MPZ-193-15

9.50-14-0.01-0.05

21502150

NIVEL 1

5.10-104-0.21-0.78

3.40-255-0.23-0.47

2.20-24-0.03-0.17

NIVEL 11

NIVEL 5.5

NIVEL 9

1.85-43-0.27-0.73

1.85-138-0.35-1.67

NIVEL 0

SURNORTE

Z05-093.60-215-0.05-0.05

Z05-09

1.60-190-0.02-0.04

Z05-051.20-635-0.23-0.05

Z17-4310.02-27-0.02-0.04

Z17-444.73-144-0.04-0.07 2.85-166-0.10-0.27

Z17-452.15-218-0.04-0.09

Z17-47

1.90-133-0.11-0.34

DESP. AL BAJO

NIVEL 7

NIVEL 2

NIVEL 0

1850

1750

1700

3.75-198-0.07-0.17

MPZ-193-15

MPZ-194-15

9.14-54-0.03-0.10

9.50-14-0.01-0.05

SR-UG06-08


SR-UG06-06

9.68-26-0.01-0.05

SR-UG06-07

11.02-17-0.01-0.03

3.69-16-0.02-0.06

SR-UG06-02

2.40-31-0.20-0.53

SR-UG06-03

1.69-63-0.02-0.08

SR-UG06-10

SR-UG06-11

1.04-102-0.10-0.22

SR-UG06-12

(0.23-214-1.90-4.90)

(0.79-117-0.03-0.13)

CHEMEX

CHEMEX

CHEMEX

CHEMEX

SR-UG06-13

CHEMEX

6.11-63-0.06-0.28

(1.11-176-0.12-0.44)

SR-UG06-01

SR-UG06-04

SR-UG06-05

CHEMEX

CHEMEX

6.67-103-0.07-0.12

3.50-94-0.11-0.36

(1.68-190-0.13-0.24)

(1.70-259-0.34-1.13)

CHEMEX

6.41-65-0.03-0.06(3.08-166-0.06-0.12)

SR-UG06-09

CHEMEX

2.93-376-0.81-0.86

CHEMEX

1.57-127-0.05-0.19

(1.13-172-0.07-0.26)

(0.81-125-0.13-0.28)

3.04-70-0.08-0.31

(1.29-120-0.16-0.65)CHEMEX CHEMEX

CHEMEX

OBRA ANTIGUA

MINERALIZACIÓN ABIERTA

BNO. PROY.01

75 MTS65 MTS BNO. PROY.02

Z05-070.80-203-1.02-1.24

Z05-08

COMUNICO OBRA ANTIGUA

Z05-060.60-443-0.15-0.27

Z05-05

1.00-139-0.08-

Z05-10

0.70-222-0.09-0.03

Z05-10

1.40-153-0.30-0.09

TIRO LA SOLEDAD

MPZ-267-18

MPZ-266-18 MPZ-268-188.47-84-0.05-0.17

(3.18-195-0.08-0.28)

7.99-24-0.03-0.08

7.99-24-0.03-0.08

1800

1750

1700

FALLA

NIVEL 17

NIVEL 19

NIVEL 18

NIVEL 20

3.75-198-0.07-0.17

MPZ-199-15

MPZ-192-15

3.53-106-0.03-0.13

NIVEL 16.5

VETA ESPERANZA

RAMPA (-) EXTREMO SUR

MPZ-201-16MPZ-207-163.32-147-0.28-0.76(0.95-859-0.83-2.37) (0.30-1490-0.45-1.45)

1650

MPZ-215-167.07-86-0.06-0.39

(1.65-155-0.07-1.06)

NIVEL 22

NIVEL 23

4.71-59-0.05-0.17

SR14-021.26-160-0.16-0.93

1.73-135-0.17-0.40

(0.68-297-0.37-0.94)

SR-UG4-10

5.15-23-0.55-1.53

NIVEL 24

1600

SR-UG4-11

SR-UG5-012.20-26-0.47-1.02

SR-UG5-022.65-163-0.18-0.91

SR-UG5-031.80-29-0.56-2.09

SR-UG5-041.55-48-0.20-0.63

SR-UG5-071.50-21-0.78-1.03

SR-UG5-051.70-10-0.39-0.76

SR-UG5-06

10.73-4-0.17-0.23

NIVEL 25


FTE. DE EXPLORACIÓN NIVEL 21

NIVEL 26

C/P

NORTE SUR

NIVEL 26.5

NIVEL 23

SR-UG4-07

MPZ-281-193.71-59-1.00-1.99

(0.62-195-1.85-3.93)

1.29-16-0.20-1.81MPZ-282-19

1.04-45-0.35-0.90MPZ-283-19

NIVEL 28

BNO.PROY

BNO.PROY

PLAZA DE EXPLORACIONPROY.

BNO.PROY

BNO.PROY BNO.PROY

BNO.PROY

BNO.PROY

12.88-168-0.46-1.08ZONA DE STOCKWORK

MPZ-287-19

MPZ-285-19

MPZ-286-19

5.85-73-1.40-3.02

DESP. AL ALTO

1.34-305-0.66-1.74

MPZ-285-19

2.23-575-1.84-4.97

MPZ-284-19

DESP. AL ALTO

MPZ-285-191.10-247-0.42-0.55

3.19-321-0.19-0.60

DESP. AL ALTO

MPZ-284-190.72-584-0.26-0.77

MPZ-288-190.50-764-0.22-0.46

NIVEL 27

2.45-307-0.46-0.49

MPZ-288-19

2.60-221-0.30-0.31

MPZ-289-195.50-28-0.68-2.13

MPZ-293-19MPZ-294-193.07-225-0.43-1.25 1.80-8-0.07-0.40

BNO.PROY

MPZ-295-19 OPERACION

Open for expansion


Area 1Guadalupe to Alacran Exploration Area

• Fertile exploration area between two large

historic Mines

• The Guadalupe Mine to the north produced

over 10 million ounces silver between

1972-1991, and much more since first

recorded production in 1529; Sept 2018

drill results:

– 2.61 m of 1,263 g/t Ag & 8.82 m of 306 g/t Ag

• The Alacran Mine to the south is marked by

extensive underground workings with

historic reports of very high-grade (1,000’s

of g/t) silver and gold mining beginning

before 1527

Guadalupe Mine

+10M oz Ag historic production

Drill Targets

Guadalupe Deeps

El Paso

San Ignacio

Remedios

El Progresso

Alacran Deeps

Alacran Mine

Large historic Ag/Au production

1,200 m zone

Ala

cra

n D

ee

ps D

rill

Targ

et


Area 1San Felipe Corridor Exploration Targets

• A number of drill targets have been developed on

veins within short trucking distance of the Guadalupe

Mill

• San Felipe is an old multilevel mine where an initial

drill hole intersected high-grade silver

– 834 g/t Ag over 3.34 m

• Socavon Zacualpan and El Paso are on the mine

access road is less than 1km from the Guadalupe

mill

• Other exploration targets being mapped and

sampled to develop additional drill targets

Chivo MineHigh grade production

between2007-2012


Area 2Tasco North & Pregones Exploration Areas

• Area is synonymous with silver in Mexico – Taxco is the most

famous silver mine in Mexico

• To the north, IMPACT’s early exploration efforts have discovered

numerous old mines and old processing plants

• Taxco district still owned & explored by majors (Grupo Mexico.)

Old Mines Old Processing Plants

Epithermal silver veins


Area 3Capire: Potential Quick Expansion of Production

• 43-101 open pit resource of 4.5Moz Silver @ 79g/t + lead-zinc in open pit with expansion / exploration upside

• 200 tpd pilot plant on care & maintenance; turnkey to restart with rising silver prices

• Infrastructure pre-built for 1,000 tpd plant

• VMS silver-lead-zinc (-gold-copper) deposit; other VMS prospects with upside nearby

• DMS technology has potential to materially reduce operating costs and extend mine life

200 tpd pilot plantOpen-pit

3D model of

planned

open-pit

Mill

Tailings Facility

Capire open-pit 3D modelCapire open-pit mine and pilot plant on VMS

Ag-Pb-Zn deposit (currently on standby)


Capire ProjectNI 43-101 Resource Estimate

• Resource estimate is based on

an optimized pit shell

• Potential to mine ore at a lower-

cut-off grade through use of

conventional Dense Media

Separation (DMS) technology

• Resource estimate excludes

additional mineralization lying at

deeper levels that may be

amenable for potential

underground and open pit

development

Mineral Resources are current as at January 9, 2016. The reported mineral resource (“Base Case”) cutoff grade is US$30/tonne in the table. Steven Ristorcelli, C.P.G.

(U.S.A.), Principal Geologist for Mine Development Associates and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for

this Capire project mineral resource estimate (See IMPACT Silver news release dated January 18, 2016 and NI 43-101 Technical Report posted on www.sedar.com for

supporting information and other details.)

Cut-off NSR Average Grade Contained Metals

(US$/tonne) Tonnes (000s) (US$/tonne) Ag (g/t) Zn (%) Pb (%) Ag (000 oz) Zn (000 lbs) Pb (000 lbs)

10 4,465 $36.20 44.21 0.72 0.31 6,346 71,183 30,212

15 3,450 $43.24 53.03 0.85 0.37 5,881 64,914 28,072

20 2,707 $50.37 62.22 0.98 0.43 5,414 58,444 25,755

25 2,177 $57.19 71.06 1.10 0.49 4,974 52,766 23,522

30 1,786 $63.74 79.49 1.22 0.54 4,563 47,975 21,423

35 1,490 $69.96 87.65 1.33 0.59 4,199 43,692 19,504

40 1,242 $76.47 96.20 1.45 0.65 3,842 39,596 17,666

45 1,035 $83.30 105.37 1.56 0.70 3,507 35,693 15,905

50 859 $90.69 115.49 1.69 0.75 3,189 31,983 14,203

NI 43-101 Compliant Inferred Resource Estimate (January 2016)


Capire ProjectUnlocking Value through Dense Media Separation (DMS)

• Highly encouraging results from a 2019 study evaluating the viability of DMS

– DMS is a low-cost method of pre-concentrating minerals to increase the grade of

mineral feed into the processing plant and improve processing economics

• Initial results showed that 25% of the sample mass could be rejected while

retaining over 99% of silver, lead and zinc and >97% of copper and gold

• A second test on a low-grade sample showed that over 42% of the sample

mass could be rejected while retaining 93% of silver and lead and 79% to

92% of copper, gold and zinc

• A DMS preconcentration plant could unlock some significant operating cost

improvements that would allow a lowering of cut off grade and access to

otherwise uneconomic areas of the Capire deposit

• DMS is used across many operations around the world

– Operations using DMS include the Kroondaal platinum mine in South Africa, Comide

and Kamfundwa copper mines in the DRC, Navachab gold mine in Namibia and the

Tati nickel mine in Botswana


Area 4 Carlos Pacheco – Gold/Copper District

• Test mining of gold and metallurgical

testing of copper carried out at Carlos

Pacheco South in 2014; gold, silver,

lead and zinc recoveries are good;

copper metallurgy needs more work.

• Past drilling results at Carlos Pecheco

included 19.6 g/t Au over 2.9 meters

(see PR dated Dec 3, 2008 for details)

• Average grade 3.2g/t Au, 75g/t Ag,

0.35% Cu & 1.5% Pb+Zn.

• Mining infrastructure in place at north

and south ends of zone


Area 4Gold Exploration Targets around Buried Intrusive

• The core of the district is host to gold veins and potential

bulk tonnage gold mineralization on the flanks of a large

magnetic high (pink on map)

• Intrusive rhyolite breccia dikes indicate magnetic high is

probably a buried felsic intrusion and heat driver of

mineralization in the Zacualpan district

• High grade gold veins being explored at Chapanial and El Canelo

• Bulk tonnage gold zone being explored at Manto America

• Further exploration planned

Manto America

El Canelo

Chapanial


Area 4Manto America Bulk Tonnage Target

• Large area (+1 km2) of sericite-pyrite

alteration with elevated gold values in

soils and rocks

• 2019 channel samples returned 33

samples over 2 g/t gold; highest value

19.5 g/t gold over 1.2m

• Gold values associated with sulphide

lenses and quartz-hematite veinlets

• Bulk tonnage gold targets

• Exploration planned – trenching and

shallow RC grid drilling

La Mora-

2nd bulk

tonnage target

Manto America Cat

Trench 2

Manto America Cat

Trench 1

Manto America Soc 1

and 2


Area 4Chapanial Gold Discovery

• Located 7 km west of the Guadalupe processing plant&

southwest of Veta Negra Mine

• Sampling results from 2020 exploration include:

– 97.5 g/t Au and 97.9 g/t Ag over a true width of 0.8 m

– 18.25 g/t Au and 75.4 g/t Ag over a true width of 0.2 m

• Close to historic Chapanial mine which produced on three levels

over 45 m depth and along strike for 100 m

• Vein is associated with a major structure which hosts a sulphide

bearing polymictic breccia up to 8m in width

• Many other veins and anomalies are currently being explored

Chapanial

Highlighted Channel Sampling Results

Chapanial

Norte

Chapania

Sur


Plans Going Forward

2020

•Explore while optimizing silver production

• Drill exploration targets at Veta Negra, Guadalupe, Chapanial, Manto America

• Continue Exploration on priority targets among the >5,000 silver and gold-copper old mine prospects

• Continue to drill and optimize high-grade silver production at Guadalupe and Veta Negra

• Increase cash flows and optimization of Guadalupe mill

• Consider placing Capire open pit silver mine back into production with rising silver prices

• Identify and evaluate strategic opportunities for financing and acquisitions

2021+

• Expansion and exploration

• Continue aggressive exploration and drilling of priority targets

• Consider placing Carlos Pacheco Zone into production when gold and copper prices improve

• Consider expanding Capire open-pit silver mine to 1,000 tpd

• Continue exploration and expand mining activities with aim to grow into a multi-million oz precious metals producer


Thank you – invest in IPT.V purest explorer/producer


Pure-play silver producer with

tremendous 5:1 leverage to

increasing silver prices

Near-term production growth

and near-mine exploration

upside

District exploration upside:

hundreds of vein targets and

>5,000 historic workings

across the propertyTelephone 1-604-644-7707

Email [email protected]

Website www.IMPACTSilver.com

Corporate Address Suite 705 - 543 Granville

Street

Vancouver, BC, Canada V6C 1X8

about:blank

about:blank

Appendix

31

Market Capitalization (C$M)

$15,069

$10,343

$3,896

$3,752

$3,671

$2,454

$2,370

$1,737

$1,610

$874

$484

$388

$331

$296

$163

$141

$119

$52

Fresnillo

Pan American

SSR

First Majestic

Hecla

Coeur

Hochshild

Silvercorp

Fortuna

Endeavour

Americas Gold & Silver

Great Panther

Sierra

GoGold

Excellon

Silver Bear

IMPACT

Santacruz

54.6

25.9

13.2

12.6

11.7

7.9

7.7

6.4

5.7

4.0

3.4

1.6

1.5

1.2

1.1

1.0

0.8

0.7

Fresnillo

Pan American

First Majestic

Hecla

Coeur

Fortuna

SSR

Silvercorp

Hochshild

Endeavour

Sierra

Silver Bear

Great Panther

Americas Gold & Silver

Excellon

GoGold

Santacruz

IMPACT

2019 Silver Production (M oz Ag)


Source: S&P Capital IQ and company filings as of July 24, 2020

Silver Producers in the Americas

Rapid Exploration to Mine Development

A cornerstone of IMPACT’s success has been rapid mine development to increase mill throughput and

generate near-term cash flow – drilling to production typically in <24 months

Exploration and mine development process flowchart

RESEARCH

Compile old

mines/ prospects

from historic

maps

DRILLING

Drilling in

phases based

on success

MINE

DEVELOPMENT

Mine Planning,

Permitting and

Construction

FIELD WORK

Surface &

underground

sampling,

mapping

MINE

PRODUCTION &

CASH FLOW

More than 5,000

old mines and

prospects

catalogued

to date

Prioritize and

select

areas and

prospects

for drilling

• Veta Negra

• Extensions

• Alacran area (drilling planned)

• El Paso (drilling planned)

• San Ramon

Deeps

• Cuchara

• Guadalupe

• Veta Negra

• Guadalupe

• Veta Negra

open pit


33

P E R F I L

TIRO CENTRAL

NIV EL - 50

NIVEL - 245

NIVEL - 140

NIVEL - 195

NIVEL - 110

G - 81

G - 82

G - 83

G - 840.83

103

6.71

75

1.75

126

4.24

336

G - 27

2.05

97

G - 262.79

46

P A - 276

3.95

295

4.36

23

P A - 356

P A - 18

Y=1

,800

P A - 14P A - 19

Y=1

,600 X=1,400

NTE

LONGITUDINAL VETA LIPTONIA

NIV EL - 140

Y=2

,000

X=1,200

2.23-438-1.00-2.011.34-216-0.84-1.88

NIVEL - 70

1.45-34-0 .25-0.24

6.05-208-0.62-0.73

P A - 283

FU

ND

O G

UIL

LE

RM

INA

FU

ND

O G

UIL

LE

RM

INA

NIVEL - 140

MINA GUILLERMINA

NIVEL - 70

X o a LIPT ON

NIVEL - 140

NIVEL - 110

NIVEL - 0

1,896.50

1,796.50

1,696.50

PROY. FRENTE NORTE NIVEL-70

VETA LIPTONIA

VETA LIPTONIA

VETA LIPTON

CRUCERO

LIPTONX.o. A

NIV EL - 140

PROY. FRENTE NORTE NIVEL-110

SIMBOLOGIA

PROYECTO

SULFUROS

ANDESITA

CUARZO-CALCITA

FALLA-FRACTURA

X.o.A LIPTON

X.o.A LIPTON

X .o.

A L IP TONPROY. FRENTE NORTE NIVEL-100

PLANO GEOLOGICO LIPTONIA

S E CCION LONG. VETA

LIP TONIA

POSIBLES RECURSOS

P E R F I L S O B R E V E T A L I P T O N

NIVEL - 100

1,896.50

1,796.50

1,696.50

SUR

ZONA DE PRODUCCION

NIVEL - 100

RAMPA (+) A NIV 50

BLANCO DE EXPLORACIONNIVEL 15

NIVEL 30

NIV EL - 60ZONA DE FALA

• Current Guadalupe Lipton

prodtuction mainly on

extensions of historic mining

(Yellow= historic mining,

orange and red = near term

future mining areas)

Refurbishing Historic Infrastructure at Guadalupe

• Refurbishing old assets and equipment – in this case the mine shaft and underground railroad to lower cost and speed up tonnage being hauled out of mine

34

35

Area 1: Alacran Gold-Silver Mine1918-1926 Mining Areas Long Section

1.2+ km zone

35

36

Area 1: Alacran Gold-Silver MineTwo historic reports indicate super high grades

Lewis (1920) “…At enriched places, lenses of silver sulphides are found, 30 to 70cm. wide, the ores carrying 20 to 60 kg. silver per metric tonne. The wall-rock for a short distance is also impregnated to the point of making good mill-ore. The unenriched spaces between the ore bodies usually assay 400 to 500 gm. Silver. All the high-grade ores carry gold, with a characteristic accompaniment of iron and copper sulphides……”

Garcia (1921) reports “The Alacran Mine employed 500 workers who produced 8 to 10 tonnes <per day> of direct shipping ore assaying 35kg/tonne which was exported to Penoles in Toluca and 40 tonnes <per day> of less than 10kg/tonne which was sent to the <Cuchara> flotation plant.Do the math: 50 tpd operation producing about 7 million ounces silver per year

36

Ore Sorting DMS Plant Example

• Hudbay Ontario uses DMS

• Not a new technology but a proven cost reduction approach to small high grade mines

• There are many DMS and other ore sorting plants in operation around the world

37

Documents

Corporate Presentation · Corporate Presentation Sept 2020 IPT:TSXV / ISVLF:US / IKL:FR 14 Years of Exploration & Production Success in Mexico. Disclosure Forward-Looking Statements