Silver Bow Mining Corp. M&A announcement

Good afternoon, everyone, and welcome to Silver Bow Mining Corp's investor webinar. On behalf of Silver Bow Mining Corp, thank you for taking the time to join today's investor webinar. My name is Scott Powell, President and CEO of Skyline Corporate Communications Group, LLC, and I will moderate today's event. This webinar is being recorded today, Monday, August 24th, 2026, at 4:00 P.M. Eastern time. Presenting today on behalf of Silver Bow Mining Corp are Mr. Travis Naugle, Chairman and Chief Executive Officer, and Mr. Doug Stiles, President of Silver Bow Mining Corp. After management's formal remarks, there will be a question and answer session where Silver Bow Mining management will answer questions submitted by registrants. Today's session is scheduled to run approximately 30 minutes. Please note that all participants are in listen-only mode today.

This presentation has been prepared by Silver Bow Mining Corp, the company, solely for informational and discussion purposes. The information contained herein is provided as of the date of this presentation and is subject to change without notice. This presentation contains forward-looking statements within the meaning of applicable U.S. securities laws and forward-looking information within the meaning of Canadian securities laws.

All statements other than statements of historical fact, including statements regarding timing and completion of the acquisition and expected strategic benefits of the transaction are forward-looking statements and are based on the company's current expectations and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including failure to obtain bankruptcy court, governmental, shareholder, or NYSE American approvals, failure to satisfy closing conditions, and additional risk factors as discussed under the headings "forward-looking statements" and "risk factors" in the company's current report on Form 8-K as filed on August 24th, 2026, and registration statement on Form S-1/A filed with the United States Securities and Exchange Commission on April 24th, 2026. The company's Canadian prospectus dated April 29th, 2026, filed on SEDAR+ and in other documents filed by the company with the U.S. Securities and Exchange Commission and Canadian Securities Regulatory Authorities.

Viewers are cautioned not to place undue reliance on forward-looking statements and forward-looking information, which speak only as the date of this webcast of August 24th, 2026. Except as required by applicable law, the company undertakes no obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events, or otherwise. The CVRs and the Silver Bow Mining common shares issuable upon conversion thereof have not been and will not be registered under the U.S. Securities Act of 1933 as amended, the Securities Act, or under any applicable securities laws of any state of the United States and may not be offered or sold absent such registration or an applicable exemption therefrom.

This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. This presentation may be deemed to be solicitation material in respect of the proposed shareholders' meeting of Silver Bow Mining to approve the issuance of the CVRs and the underlying common shares. In connection with the proposed shareholders' meeting, Silver Bow Mining intends to file the relevant materials with the United States Securities and Exchange Commission, the SEC, including Silver Bow Mining's proxy statement in preliminary and definitive form.

Investors and shareholders of Silver Bow Mining are urged to read all relevant documents filed with the SEC, including Silver Bow Mining's proxy statement when they are available because they contain or will contain important information about the shareholder approval being requested. Investors and shareholders of Silver Bow Mining are or will be able to obtain these documents when they are available free of charge from the SEC's website at www.sec.gov or free of charge from Silver Bow Mining's under the investors section of Silver Bow Mining's website at silverbowmining.com/investors or by sending a request by email to ir@silverbowmining.com or by mail to 1401 Idaho Street, Butte, Montana 59701. Attention Corporate Secretary. Silver Bow Mining and certain of its respective directors and executive officers under SEC rules may be deemed to be participants in the solicitation of proxies from shareholders of Silver Bow Mining in connection with the proposed transaction.

Information about Silver Bow Mining's directors and executive officers is available in Silver Bow Mining's registration statement on Form S-1/A, which was filed with the SEC on April 24, 2026. To the extent holdings of Silver Bow Mining securities by their respective directors or executive officers have changed since the amounts set forth in the registration statement on Form S-1/A, such changes have been or will be reflected on initial statements of beneficial ownership on Form 3 or statements of change in ownership on Form 4 filed with the SEC. Additional information concerning the interests of Silver Bow Mining's participants in the solicitation, which may, in some cases, be different than those of Silver Bow Mining's shareholders generally, will be set forth in Silver Bow Mining's proxy statement relating to the proposed approval by shareholders when it becomes available.

References to third parties, including MES Mining, the Montana Department of Environmental Quality, and U.S. and allied government agencies, describe the company's existing or contemplated commercial or regulatory relationships and do not imply endorsement by such third parties. At this time, I would now like to turn the webinar over to Mr. Travis Naugle, Chairman and Chief Executive Officer of Silver Bow Mining Corp.

Mr. Naugle? Thank you. Good afternoon, everyone, and thank you for joining us.

Earlier today, Silver Bow Mining announced that we entered into a definitive agreement to acquire the Jefferson County Metallurgical Complex in Montana. I wanted to speak directly with our shareholders today because I believe this transaction is an important step for Silver Bow Mining, and I also wanted to spend some time explaining what we're acquiring, why we pursued it now, and how we believe it may fit into the work that we're already doing at the Rainbow Block in Butte. I also want to be clear right from the outset about what this transaction does not change. Our primary focus remains the Rainbow Block in Butte, Montana, and the broader opportunity we are pursuing in the Butte Mining District. We're actively exploring the Rainbow Block. We've reestablished underground access through the Chief Joseph portal and decline.

We're drilling from surface down into the underground vein systems. We're continuing the technical, environmental, and permitting work necessary to better understand the potential development pathways for the Rainbow Block project. The Jefferson County Metallurgical Complex gives us another potentially important piece of that development equation, significant existing processing infrastructure in Montana, approximately 55 miles by road from Butte. We believe this is a compelling strategic opportunity for Silver Bow Mining. Building our company. Silver Bow Mining, we're a relatively young company with an IPO completed earlier this year, but we've been building towards this opportunity for several years. We created Silver Bow Mining to apply modern exploration and engineering to our significant land position in the Butte Mining District. Today, we hold over 4,200 acres of patented mineral rights and approximately 1,400 acres of surface lands across multiple claim blocks with the Rainbow Block as our flagship asset.

Rainbow Block currently hosts an inferred mineral resource of approximately 11.48 million tons, grading 4.3 ounces per ton per silver, 0.05 ounces per ton gold, 4.6% zinc, and 1.3% lead. That represents approximately 49 million ounces of silver, approximately half million ounces of gold, more than 1 billion pounds of zinc, and approximately 287 million pounds of lead. As we have said consistently, this is an inferred mineral resource. It's not a mineral reserve and does not have demonstrated economic viability. There is additional work required before we can determine whether and how the Rainbow Block should ultimately be developed. Our initial public offering and listing on the NYSE American in April of this year provided the capital to accelerate that work. Since then, our focus has been on execution.

We initiated a 25,000-foot surface drilling program, and we're presently rehabilitating the Chief Joseph portal and underground decline to safely reestablish access to the underground workings. We're also advancing the geologic engineering environmental and permitting work necessary to make informed decisions about the Rainbow Block. That work remains our priority. At the same time, as Rainbow Block advances, we believe it is important to think ahead about the infrastructure that could ultimately support its development. Speaking of infrastructure, our responsibility is to think beyond just the next drill hole. Exploration remains fundamental to what we're doing. We need to continue expanding our understanding of the Rainbow Block resource, reestablish underground access collect the geological and engineering information necessary to evaluate potential development. But infrastructure is also an important point of that evaluation.

If our work at Rainbow Block continues to support advancement, we need to understand the alternatives available for processing the polymetallic mineralization and how those alternatives could affect capital requirements, permitting, development planning, and project economics. We had an opportunity to acquire significant existing processing infrastructure right here in Montana, 55 miles by road from the Rainbow Block. We believe that opportunity is strategically important. Rather than wait for every element of a future Rainbow Block development plan to be complete and then begin looking for processing alternatives, we have an opportunity today to secure control of that infrastructure that we believe could be an important part of that plan. This does not mean we have predetermined how the Rainbow Block will be developed. We haven't yet. The technical work will determine that. What this acquisition does do is it gives us another option to evaluate that.