exploring and developing high-grade silver deposits

TSXV: HDA

www.huldrasilver.com ~ Tel: 1 (604) 647-0142

HULDRA - OVERVIEW

NEAR-TERM SILVER PRODUCTION

• Underground Mining commenced in November 2011

• Fully Permitted for Underground Mining and Milling

• Full Cycle Commissioning of 200+ tonne per day Silver/Lead/Zinc

grinding crushing and floatation mill.

• A full year of stockpiled Mill Feed at both Mill site and Mine Site

EXPLORATION UPSIDE

• Mine workings open on strike and at depth for resource expansion

• Soil geochemistry programs ongoing

• Airborne survey of entire claim completed with multiple geophysical

anomalies

• 100% Ownership of a 7000 acre high grade silver deposit

• 50% ownership of 8500 hectares surrounding former open pit and

underground copper mine. Airborne survey completed in 2012.

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DIRECTORS AND MANAGEMENT

• Ryan Sharp, MBA

CEO/Director ryan@huldrasilver.com

• Magnus Bratlien

Director

• Garth Braun

CFO & Director garth@huldrasilver.com

• Peter Espig

Director

• Kathleen Nosek

Corporate Secretary

• Denis Dipasquale

Construction and Logistics

• Chris Ross, CGA

Corporate Controller

• Al Beaton, P. Eng

Mine Manager and Engineer

• Mark Labrecque

Corporate Safety Officer

• Jim Cuttle, P.Geo

Independent Geologist

• Mark Williams, P.Geo

Senior Geologist

• Michael Frye

Exploration Geologist

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2010 - 12 HIGHLIGHTS

• Management Change in March 2010

• The strategic direction of the Company was changed

• Focus on permitting, resource expansion, locating and acquiring offsite

milling facility, and near-term production.

• The company is currently on target to meet all of the goals established Mining and Milling permits received in May 2012

New exploration targets discovered

Milling facility acquired in May 2011

Bulk sample permits in place, Mining commenced November 2011

Mill Acquired, October 2011

Mill commissioning ongoing with concentrates being produced

• The Company is currently exploring acquisition targets for post cash-

flow development

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TREASURE MOUNTAIN MINE

CURRENT UNDERGROUND RESOURCE

• A Total Vein Indicated Resource, estimated at an 11.02 oz/t Ag

cut-off grade, was reported as 33,000t with 26.68 oz/t Ag, 4.16%

lead and 3.80% zinc, containing 880,000 ounces silver,

3,030,000 lbs. lead and 2,760,000 lbs. zinc.

• Total Vein Inferred Resources, estimated at the same cut-off

grade were reported as 120,000t with 29.76oz/t Ag, 2.79% lead

and 4.36% zinc, containing 3,580,000 ounces silver,

7,370,000 lbs. lead and 11,540,000 lbs. zinc. • For more information about the Company’s Treasure Mountain Property, see the technical report entitled

“Technical Report, Project Update, Treasure Mountain Property” dated June 7, 2012, available under

Huldra’s profile on SEDAR at www.sedar.com.

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LOCATION AND ACCESS

Treasure Mountain is approximately a 3 hour drive from Vancouver, BC

• 38km from a major hwy via a fully maintained two lane gravel road

• Approximately 65 minutes from Merritt, Hope, and Princeton, BC

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CURRENT CLAIM HOLDINGS

• The Treasure Mountain Property is

100% owned by Huldra Silver Inc

• No joint ventures or NSR’s

• The claim holdings consist of 51

mineral tenures comprising 21 legacy

claims, 100 cell units and five Crown

Grants for a total of approximately

2,850 hectares (7,000 acres)

• Historical exploration and

development has been concentrated

on a small portion of the entire claim

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DEVELOPMENT

• 2750 Metres of underground development on 4 levels from

1987-88

• Underground workings were re-opened on level 1 in 2010

• Remaining 3 levels were re-opened in 2011

• Camp and Facilities were installed in the summer of 2011

• Roads were re-constructed to haul road specifications in 2011

• Surface Infrastructure required for mining was purchased and

installed in 2011

• Approximately 1250m of new underground development in

2011-2012

• A permitted 10,000 tonne bulk sample was completed in April

2012

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2012 MINING

• Currently mining the second stope on Level 1. Approximately 40,000

tonnes of mill feed as of Sept 2012.

• The Level 1, Number 1 stope underground chip sample from Lifts

1,2,3,5,7,9,11,13, and 15 had an average grade of the sample over

the mined widths of 725 g/tonne Ag, 5.24% Zn and 5.00% Pb over

an average width of 1.67 metres. (estimated 26,000 tonnes)

• The Level 1, Number 3 stope underground chip sample from Lifts 1, 3,

6, 7, and 9 had an average grade of the samples over the mined

widths of 907 g/tonne Ag, 1.73% Zn and 5.91% Pb over an average

width of 1.84 metres. (estimated 20,000 tonnes) • Note: The samples are taken on 5 metre intervals across the full width of the underground stope. The samples are for estimated mining grade purposes only. The actual grade of

the material will be determined during mill processing. The full results and tables can be viewed on the company website at www.huldrasilver.com.

• All samples were delivered by truck to Acme Analytical Laboratories’ facility in Vancouver, BC, where the sample was crushed, split and pulverized to -200 mesh. A 0.5 gram

portion of the pulp was then digested in hot aqua regia and analyzed for 31 elements by ICP MS method. Over limits for Ag were by fire assay with gravimetric finish, and for Pb,

Zn and Mn by multi-acid digestion and ICP ES finish.

• Technical information has been reviewed and approved by Mark Williams, P. Geo., a Qualified Person as defined in National Instrument 43-101.

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MINING INFRASTRUCTURE

• A 50 man self sufficient mining camp was installed on the

property in the summer of 2011

• The current facilities include a 48 man complete bunkhouse, two

cabins, kitchen and dining facilities, office complex, first aid and

rescue buildings, a workshop, septic system, power generation,

water wells, and fuel storage.

• The Company purchased a complete set of used underground

mining equipment from a closed mine in July 2011 and has

acquired additional equipment as required.

• The electrical and ventilation systems were installed by

September 2011 to begin underground construction.

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2012 MINING OBJECTIVES

• Mine a total of 60,000 tonnes of mill feed in addition to the

10,000 tonne bulk sample from Level 1 and 2 of the mine by the

end of 2012.

• 3 additional underground stopes will be developed on Level 1

• A 200m haulage drift will be driven on level 2 along with stope

raises

• Exploration cross cuts and extension to be added to Level 2

• Three additional underground drill stations to be installed on

Level 2

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LEVEL ONE DEVELOPMENT

• Ralph’s picture

RESOURCE EXPANSION • 51 Diamond drill holes (5,073 metres) on the existing mine from

surface to 140m down dip in 2011 (Total depth of structure

400m).

• Drift and raise sampling along with the results from the 51

surface diamond drill holes and a planned 5600m underground

drill program will be used in producing a new NI 43-101

compliant resource estimate in Q2 2012.

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DRILL HIGHLIGHTS

Assays from 51 diamond drill holes on the existing mine have been

received. Highlights from the results from the three holes below

intersect the vein structure outside of our current resource model.

• 7,013 grams per tonne Ag, 21.82% Pb, 19.63% Zn and 4.9% Mn over 1.37

metres in hole TM11-26 that intersected the vein structure approximately 10

metres above the Level 2 Drift.

• 592.92 grams per tonne Ag, 4.28% Pb, 2.47% Zn and 5.80% Mn over 3.11in

hole TM11-9 that intersected the vein structure below the Level 1 drift,

approximately 80 metres east of the Level 2 drift.

• 1,565 grams per tonne Ag, 13.47% Pb, 9.92% Zn and 4.76% Mn over 1.2

metres in hole TM11-36 that intersected the vein structure approximately 15

metres below the Level 2 Drift.

• Laboratory Procedures and Quality Assurance • Drill core is logged by a geologist and cut at predetermined intervals using a diamond saw. One half of the sample is archived onsite and the other half is

trucked to Acme Analytical Laboratories’ facility in Vancouver, BC, where the sample is crushed, split and pulverized to -200 mesh. A 0.5 gram portion of the

pulp is then digested in hot aqua regia and analyzed for 31 elements by ICP MS method. Over limits for silver are determined by fire assay with gravimetric

finish, and for lead, zinc and manganese by multi-acid digestion and ICP ES finish.

• Certified standard reference material (“SRM”), including core duplicates and blanks, have been inserted into each sample shipment at a frequency of

approximately one SRM per ten samples.

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GEOPHYSICAL AND GEOCHEMICHAL

TESTING

• Soil sampling program between 2011-12 has been focused on targets

with limited historical exploration

• An airborne was conducted in 2012 with results available on the

company website at www.huldrasilver.com

• Additional programs have been added recently following the

geophysical results to increase the number of samples taken in 2012 to

1127 over 4 primary targets.

• The following map presents the anomalous results for Ag received to

date.

• The second map outlines 2012 geochemical sampling overlying the

airborne survey. (results pending)

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• Michael’s Picture

3D INTERPRETATION

EAST ZONE

• 1000m East and on Strike from the current

underground mine

• Follow up on a historical trenching program

• Drill program conducted in 2010

• An open pit exploration cut was partially completed

in 2011 exposing the Vein structure over 10m wide

and 10m deep.

• 34 tonnes of material from the exploration program

were crushed, grading 5900 g/t Ag and 66% Pb,

have been shipped to a smelter with payment

received.

• 500 tonnes of additional mill feed from the

exploration cut are at the Mill site awaiting

processing

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MERRITT MILLING FACILITY

The Company acquired the former Craigmont Mines Property in May of

2011 for the purpose of constructing a mill facility for processing the mill

feed from the Treasure Mountain Mine.

• Approximately 35 million tonnes of high grade copper and magnetite

ore were mined from open pit and underground operations from 1962-

1982.

• Since 1986 magnetite has been processed out of tailings and will be

completed by the previous owner/operators by November 2012

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LOCATION

• The milling property is

located approximately

10km from Merritt, BC

with year round

access.

• Road transportation

from Treasure

Mountain takes

approximately 70

minutes.

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THE PROPERTY

• The property consists of 966.44 acres of fee simple land, 347.35

Hectares of Mining Leases, and 8456.948 Hectares of Mineral Claims.

Huldra plans to conduct an initial exploration program covering both

surface and underground.

• The Mining Leases and Mineral Claims are 50% owned by Huldra

Silver Inc. An Airborne Survey was conducted in 2012 with results to be

interpreted and released in the future.

• The current tailings facility covers approximately 280 acres with

approximately 10 million tonnes of additional capacity

• The property has active mining, milling, tailings, and water use permits

• There is close proximity to all required infrastructure and services

• There are currently two small aggregate operations on site and the

potential to increase future production.

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MILL DESCRIPTION

• The Company has built a 200+ TPD Silver/Lead/Zinc grinding,

crushing, and floatation plant.

• The fully lined tailings pond has been designed to mitigate discharges

to the environment.

• The site is fully serviced by hydro power.

• The primary crushing circuit has 500 TPD capacity.

• Water supply is from reclaimed water from the historic underground

workings. The site has a large capacity water permit for any additional

requirements.

• Mill has been constructed with ability to expand to 600+ TPD

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METALLURGY

Projected Recoveries • Ag in Lead Concentrate 90.0 %

• Pb in Lead Concentrate 92.0 %

• Zn in Zinc Concentrate 80.0 %

• Ag in Zinc Concentrate 5.0 %

• Overall Ag Recovery 95.0 %

• Projected Concentrate Grades

Lead Concentrate • Pb 60%

• Ag 325oz Ag/ton

• Au .104oz Au/ton

• Cu 1.8%

• Zn 11.7%

Zinc Concentrate • Zn 52%

• Ag 15.2oz Ag/ton

• Pb 2.2%

• Figures are from 2008 metallurgical report by J. Yee, P.Eng utilizing a conventional floatation mill.

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LEAD AND ZINC CONCENTRATE

PURCHASE AGREEMENTS

• Under the Lead/Silver concentrate purchase agreement Huldra has

agreed to sell approximately 1000-2000 dry metric tonnes until March

31, 2013 (initial term).

• The Company also wishes to announce that it has entered into a Zinc

Purchase Agreement to sell approximately 1000-2000 dry metric

tonnes until March 31, 2013 (initial term).

• Payments are tied to bi-monthly prices for lead, zinc and silver as

published by the Metal Bulletin, less certain deductions.

• The contract is based on expected metallurgical samples from the

10,000 tonne bulk sample with the Lead concentrate expected to grade

66% Pb and 242 oz/ton Ag and the Zinc concentrate assaying 55% Zn.

• The actual shipments may vary from these levels and the payable

amounts may increase or decrease.

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FINANCING

• Summary of Recently Closed Equity Financings

• May 2010 – Gross proceeds of $779,000 were raised at price of $0.20

per share;

• December 2010 – Gross proceeds of $1,910,480 were raised of which

$935,480 were raised at a price of $0.52 per share and $975,000 were

raised at a price of $0.60 per share;

• July 2011 – Gross proceeds of $9,336,763 were raised of which

$6,800,724 were raised at a price of $1.05 per Special Warrant and

$1.20 were raised at a price of $1.20 per FT Special Warrant;

• August 2012 – Gross proceeds of $9,650,079 were raised of which

$3,844,600 were raised at $1.08 and $5,805,479 were raised at a price

of $1.20 per share;

• October 2012 – Gross proceeds of $5,448,060 were raised at a price of

$1.35 per share.

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SHARE STRUCTURE

As of November 1, 2012

SHARE STRUCTURE

Common Shares Issued & Outstanding 47,336,359

Warrants 12,745,370

Options 3,755,000

Fully Diluted 64,324,994

52 Week Hi/Low 1.63 / 0.850

OPTIONS EXERCISE PRICE EXPIRY DATE

440,000 $0.25 March 29, 2015

150,000 $0.25 May 4, 2015

190,000 $0.385 June 28, 2015

60,000 $0.95 January 28, 2016

270,000 $1.40 May 2, 2016

1,050,000 $1.44 July 28, 2016

60,000 $1.35 November 16, 2016

1,535,000 $1.45 September 10, 2017

WARRANTS EXERCISE PRICE EXPIRY DATE

125,000 $0.75 December 2012

858,059 $1.75 March 2013

1,159,741 $1.75 April 2013

6,488,804 $1.35 July 2013

488,265* $1.05/1.35 July 2013

165,147 $1.05 July 2013

115,512 $1.35 September 2013

166,552 $1.35 October 2013

341,724 $1.08 June 2014

5136 $1.08 July 2014

281,430 $1.08 August 2014

900,000 $1.28 June 16, 2016

650,000 $1.21 January 16, 2017

1,000,000 $1.30 May 22, 2017 * Upon the exercise of each warrant at $1.05 the holder receives one common share and one common share purchase warrant exercisable into one common share at $1.35.

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Notes

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Disclaimer for Forward-Looking Information

Certain statements in this presentation document are forward-looking statements, which reflect the expectations of management

regarding the business development objectives and plans of Huldra Silver Inc. and it’s subsidiaries (collectively referred to as “Huldra”

or the “Company”. Forward-looking statements consist of statements that are not purely historical, including any statements regarding

beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this presentation include: statements

regarding the company’s proposed targets for production and for other exploration and development plans; statements regarding

exploration upside; statements regarding projected metallurgical recoveries; statements regarding plans for 2011 mine development;

statements regarding expected costs; statements regarding construction of the proposed mill; statements regarding th proposed spin

out of copper assets; and statements regarding 2011 objectives and targets. Such statements are subject to risks and uncertainties that

may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can

be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company

will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations,

estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company’s actual

results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general

economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with silver

exploration, (3) a decreased demand for silver, (4) any number of events or causes which may delay exploration and development of

the Company’s property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems,

(5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, (7) inability to obtain all

necessary permitting and financing, and (8) other factors beyond the Company’s control. These forward-looking statements are made

as of the date of this presentation and the Company assumes no obligation to update these forward-looking statements, or to update the

reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable

securities laws. Additional information about the Company and these and other assumptions, risks and uncertainties is available in the

Company’s public filings with Canadian securities regulators, available on SEDAR at www.sedar.com.

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