Replies to post #209 on Silvercrest Metals (SILV)

[mick]

Notable improvement in our 2022 Lost Time Injury Frequency Rate (“LTIFR”)*** to 0.42 from 0.63 in 2021.
Local community-based multi-year projects have advanced with a focus on water and sewage infrastructure.
Released Task Force on Climate-Related Financial Disclosure (“TCFD”) and Water Stewardship Reports, inaugural ESG report to follow in 2023.
Financial position remains strong with debt refinancing completed at a lower rate and a reduction of debt outstanding by $40.0 million. Exited 2022 with $50.8 million in cash and $50.0 million in debt.
* NI 43-101 Technical Report & Feasibility Study on The Las Chispas Project dated January 4, 2021 (the “2021 Feasibility Study”)

** AgEq is based on the 2021 Feasibility Study Mineral Resource and Reserve gold to silver ratio of 86.9:1 calculated using US$1,410/oz Au and US$16.60/oz Ag

***based on 200,000 work hours

Pierre Beaudoin, COO, remarked, “2022 was a pivotal year for SilverCrest with construction completed slightly ahead of schedule and under budget which is a rare achievement in this industry. This milestone set the positive tone for the ramp-up and declaration of commercial production in Q4, 2022. We are currently working on optimization of Las Chispas operations, and we expect to complete its Updated Technical Report in Q2, 2023 to provide the foundation for production and cost guidance going forward.”

N. Eric Fier, CPG, P.Eng, and CEO, stated, “We are very pleased with our progress at Las Chispas. Within five months of our first metal pour we declared commercial production, refinanced our previous project financing facility, which we did not fully draw, and reduced our total debt outstanding from $90 million to $50 million. As we begin 2023, our focus is on generating revenue and using established cost controls to maximize free cash flow and pursue growth opportunities.”