2. DISCLAIMER
Except for historical information, this presentation may contain certain “forward-looking” statements and information relating to IMPACT
that are based on the beliefs of IMPACT management, as well as assumptions made by and information currently available to IMPACT
management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not
limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating
hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and
strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time
events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect,
actual results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the
obligation to update any forward-looking statement.
The factors that could cause actual results to differ materially include, but are not limited to, the following: general economic conditions;
changes in financial markets; the impact of exchange rates; political conditions and developments in countries in which the Company
operates; changes in the supply, demand and pricing of the metal commodities which the Company mines or hopes to find and
successfully mine; changes in regulatory requirements impacting the Company’s operations; the ability to properly and efficiently staff
the Company’s operations; the sufficiency of current working capital and the estimated cost and availability of funding for the continued
exploration and development of the Company’s exploration properties.
This list is not exhaustive and these and other factors should be considered carefully, and readers should not place undue reliance 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, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy
and completeness of these forward-looking statements.
George Gorzynski, P.Eng., a Qualified Person under the meaning of Canadian National Instrument
43-101, is responsible for the technical information in this presentation.
3. INVESTMENT HIGHLIGHTS
EXPLORE. PRODUCE. PROFIT!
• Three 100% owned producing silver mines in Mexico
• Consistently profitable operations with 6+ years of production & profitability
• Strong asset base with two adjacent 100% owned districts
• Open-Pit Capire Project scheduled to commence production in late 2012
• Recent discovery of potential new gold district in the Huatecosco Gold Project
• $7 Million, 35,000 meter exploration drill program for 2012
• 90% of revenues is pure, un-hedged silver
• Strong cash position with over CAD$33M and Zero Debt
1
4. FINANCIAL SNAPSHOT
Proven track record of
profitable & rapid mine
development
• Revenues have increased
138% from 2006 to 2010
• Earnings have increased
253% from 2006 to 2010
• Earnings per Share have
increased 133% from $0.03 to
$0.07 from 2006 to 2010
2
5. PROJECT LOCATION MEXICO
100% Owned 623km² Prolific
Mining District spanning two
Mexican States
Zacualpan Silver District
State of Mexico
• 423km² with three producing
mines & 500 TPD Processing Plant
Mamatla Silver District
State of Guerrero
• 200km² with open-pit mine scheduled for
pilot production late 2012
The project is located 100 kilometers
southwest of Mexico City & 25 kilometers
northwest of the
well-known Taxco Silver Mine
3
6. HISTORIC CORE ASSET BASE
Nearly 500 years of Mining History
in the two Districts
• To date, over 2,500 old mine workings have
been mapped & are being currently being
explored
• Systemic exploration identified the three
current producing mines, originally old mine
workings
• The skilled and successful IMPACT Silver
exploration team holds a proven mine
discovery and development track record:
• 2008 – Chivo Mine Development
• 2009 – San Ramon Mine Expansion
• 2010 – Noche Buena Mine Development
• 2011 – Capire Mine Development
• 2012 – Oscar Mine Development
4
7. GUADALUPE PROCESSING PLANT
500 TPD Guadalupe Processing
Plant located in the Zacualpan
District
• Flotation circuit capacity recently
expanded to accommodate additional
mineral feed
• Annual production levels of ~1 million
pure silver ounces
• Currently operating near capacity of
440 TPD
• Excellent infrastructure:
• Modern power grid
• Paved highway access
• Abundant water supply
• Highly qualified Mexican work force
5
8. MINES IN PRODUCTION
Three silver mines in Zacualpan
District feed the 500 TPD
Guadalupe Processing Plant
Chivo Mine
• Mining began in 2007
• Medium grade epithermal silver veins
San Ramon Mine
• Mining began in 2008
• High-grade epithermal silver veins
Noche Buena Mine
• Mining began in 2010
• High-grade epithermal silver veins
•Excellent mining conditions, with
average silver grades of 200 g/t and a
historic average cost per ounce silver of
$9 net of lead and zinc credits
6
9. MINES IN CONSTRUCTION
Mines scheduled to move into
production Capire Open-Pit Mine construction commenced January
2012, production scheduled for late 2012
2012
Capire Open-Pit Mine
• NI 43-101 Resource Estimate completed January 2011
• Pilot production of ~250,000 oz from 200 TPD mill
• Low-cost, open-pit mine in the Mamatla Mineral District
• Medium and high-grade VMS silver zones
• 5,000 meter expansion drilling program underway
2013
Oscar Mine
• Corridor of multiple high-grade epithermal silver veins
• Being studied for production in 2013
2014
Capire Mine Expansion
• Based on 200 TPD pilot plant operations, construction
of an 800 to 1,500 TPD Processing Plant is planned
7
10. LONG TERM STRATEGY
To become a Multimillion Ounce Silver Producer with Multiple Processing Centers
Guadalupe Mining & Processing Centre
• Oscar Mine Project being studied for
production in 2013, will feed Guadalupe mill
• Ongoing high-grade silver exploration
• Current ore feed from Chivo, San Ramon &
Noche Buena Mines
1
Capire Mining & Processing Centre
• Capire Open-Pit Project scheduled for
production in late 2012 through 200 TPD
pilot plant
3
• 5,000 meter drill program underway to
determine size of permanent mill
4
Huatecosco Exploration Area
• Potential new gold district
• 15,000 meter expansion drill program
2
underway to determine economic feasibility
of future mill
• Significant drill results from multiple targets
Southeast Exploration Area
• Early exploration stage
• Currently mapping numerous historic old
mine workings
8
11. SILVER PRODUCTION
9 Months Ended
Sept 30th 2011 YE 2010 YE 2009 YE 2008
Silver (oz) 663,853 750,259* 823,571 645,668
Lead (t) 589 734 969 813
Zinc (t) 1,000 1,212 1,098 1,053
Revenue per production tonne sold $208 $123 $110 $90
Direct cost per tonne produced $76 $63 $60 $55
*Silver production was marginally down 9% because the Company reduced the cut-off grade of the ore mined due to higher silver prices in 2010
PRODUCTION FORECAST
3
• Silver production increased by 250% from 2007 - 2011
• Organic growth with low-cost production averaging $70 per
2 tonne or $9 per ounce of silver net of lead and zinc credits
• Revenue per tonne increased 37% vs. increase in
Millions (Oz)
Pure Silver
1 production cost of 15% from 2008 - 2010
0
2012 2013 2014 2015
9
12. CAPIRE OPEN-PIT PROJECT
CAPIRE PROJECT
Represents a new mining
and processing centre
• Construction of 200 TPD pilot
plant underway as of January
2012
3 1
• 2012 production projected at
200,000 to 300,000 silver ounces
from 200 TPD pilot plant
4
• Pilot plant operation will optimize
metallurgy and final plant size 2
10
13. CAPIRE OPEN-PIT PROJECT
5000 m Drill Program to
expand Capire Zone in
2012
• Numerous old mine workings & VMS
targets to be drilled in area surrounding
the Capire Zone
• Each triangle represents rock sample
containing 500 g/t silver and/or 10%
zinc
• Multiple epithermal silver veins
discovered north of Capire Zone
• Capital expenditure for balance of
construction of Capire Project is
budgeted at $5M 11
14. CAPIRE OPEN-PIT MINE DESIGN
Area of defined NI 43-101 Resources
Open for expansion
Open for expansion
3D Model of
Capire Open-Pit
Areas of Phase 2 drill
Open for expansion program
Processing Plant Site
Tailings Facility
CAPIRE OPEN-PIT DEVELOPMENT PLAN
• 2012 200,000 to 300,000 silver ounce production from 200 TPD & 5,000 meter drill program
to expand the zone to the north, south and east
• 2013 In-house feasibility study for expanded plant sizing
• 2014 Construct 800 to 1,500 TPD processing plant 12
15. CAPIRE PROJECT
NI 43-101 RESOURCE ESTIMATE
Metal Content for Capire Project
Ag (oz) Au (oz) Cu (lbs) Pb (lbs) Zn (lbs)
Measured 3,529,969 14,146 3,389,275 18,234,678 46,140,820
Indicated 3,694,066 16,300 3,693,733 19,029,800 49,522,173
Measured & Indicated 7,224,035 30,446 7,083,007 37,264,478 95,662,993
Inferred 435,959 1,919 475,594 2,260,089 5,823,490
Summary Table Classified Mineral Resources – Measured + Indicated and Separate Inferred
Domain Classification Tonnes Ag (g/t) Au (g/t) Cu (%) Pb (%) Zn (%)
Capire Measured + Indicated 3,104,944 46.46 0.19 0.06 0.33 0.93
Aurora 1 Measured + Indicated 1,807,302 44.50 0.199 0.07 0.36 0.80
Grand Total Measured + Indicated 4,912,246 45.74 0.193 0.06 0.34 0.88
Grand Total Total Inferred 371,066 36.54 0.161 0.06 0.28 0.71
• 5,000 meter drill program in 2012 to expand the Capire Zone
• Construction of the Capire Open-Pit Mine and installation of pilot plant commenced
January, 2012
13
16. MINE DEVELOPMENT OPPORTUNITIES
OSCAR PROJECT
The Oscar Project is a
corridor of multiple high-grade
silver veins linking the past-
1
producing Cuchara & Santa
3
OSCAR PROJEC
Lucia Mines
• Highgrade silver mineralization
4
occurs in multiple veins within
the corridor
• Drill results are being studied
with potential to fast track the 2
Oscar into production in 2013
14
17. OSCAR PROJECT
Oscar - Santa Lucia DRILLING HIGHLIGHTS
Corridor OSCAR CORRIDOR
Zacualpan District Interval Ag Au Pb Zinc
Drill Hole
(m) (g/t) (g/t) (%) (%)
• Pre-existing mining infrastructure and a Z11-44 31 291 0.01 0.1 0.4
short transport distance to the Guadalupe Including 0.3 6,730 0.20 1.5 8.0
mill contribute to future low-cost mining Z11-46 5.7 1,007 0.07 0.5 1.1
operations in this zone Including 2.8 1,128 0.51 0.9 1.4
SANTA LUCIA ZONE
• Mineralization connects to the north with
Z09-47 3.2 467 0.01 0.2 0.7
the large historic Cuchara Mine and to the
south with the new Santa Lucia zone Z09-53 2.4 419 0.03 0.3 0.3
Z10-03 1.1 588 0.05 0.4 2.0
• Drill highlights of 291 g/t silver over 31 Including 1.7 394 0.07 1.1 1.6
meter width and 1,007 g/t over 5.65 meter
width
15
18. EXPLORATION OPPORTUNITIES
HUATECOSCO GOLD
PROJECT
The Huatecosco Project is a
potential new gold district
• The area is host to multiple
• Huatecosco Central (Au, Ag)
targets: 3 1
• Huatecosco Pedro (Au, Ag)
• Carlos Pacheco (Au)
• Noche Buena (Ag)
• Pilarica (Au, Ag)
• San Juan (Au) 4
2
• Santa Teresa (Au)
• Expansion drilling of 15,000 meters in
2012 is underway to determine
economic feasibility of a future mill
16
19. HUATECOSCO GOLD PROJECT
Huatecosco Gold Project DRILLING HIGHLIGHTS
HUATECOSCO GOLD PROJECT
• A large gold and silver vein system
discovered southwest of Guadalupe Interval Au Ag Cu Zinc
Drill Hole
(m) (g/t) (g/t) (%) (%)
Processing Plant
Z11-20 9.5 3.97 48.7 -- 2.6
• Huatecosco is a major structure striking 16 Including 4.2 6.96 84.3 -- 5.1
km in length with multiple splays of gold-rich Z11-17 4.7 3.44 117.6 -- 0.8
mineralization
Z11-48 4.1 5.22 30.1 0.7 1.8
Carlos Pacheco Zone Including 0.8 25.0 50.1 0.5 1.6
CARLOS PACHECO ZONE
• Significant gold-copper drill results include
19.6 g/t gold across 2.9 meters Z08-68 2.9 19.6 68 0.3 0.1
• Open at depth with expansion drilling Including 1.0 49.7 59 0.3 0.1
continuing to substantiate that a gold- Z08-65 2.1 11.3 18 -- --
copper district lies underneath the
18.8
Zacualpan Silver District Including 1.2 24 -- --
17
20. MINE DEVELOPMENT PROCESS
$7 Million, 35,000 meter Exploration Drill Program in 2012
5 STAGE MINE DEVELOPMENT PROCESS
• Targets are generated by mapping and sampling of old workings
Identify and Surface and Phase 1 & 2 Mine Planning,
Map Old Underground Drilling Permitting and
Mines and Sampling, Construction Production
Workings Detailed Mapping
Narrowed • Condesa • Capire • Chivo
More than down to
2,500 • Huatecosco • San Ramon
500+ • Oscar
Mapped Prospects • Pilarica • Noche
for follow up • Santa Lucia
• Capire North Buena
First Drill Hole to Production: 12 – 24 Months
(Chivo, San Ramon Extensions, Noche Buena)
18
21. OPTION AGREEMENT
DEFIANCE SILVER CORP (TSX-V:DEF)
PRODUCTION Santa Gabriela Processing Plant
• IMPACT optioned its Veta Grande Project in Zacatecas, Mexico, to
Defiance Silver Corp in September, 2011
• 200 TPD Santa Gabriela Processing Plant &10 mineral concessions
optioned to Defiance for cash and major share position
• Zacatecas Mineral District historical production is over 700M oz silver
San Acacio Mine
PROJECTS
Veta Grande Project
• Planned production by mid 2013
• Veta Grande vein historically produced over 200M oz silver
San Acacio Mine
• 10 concessions covering 746 Ha
• Defiance controls ~45% of the Veta Grande vein
• Currently defining feed for the Santa Gabriela plant
19
24. PROVEN PROFITABILITY
$30,000,000
Revenue PROJECTED*
$25,000,000
Net Earnings
$20,000,000 Operating Cash Flow
$15,000,000
($CDN)
$10,000,000
$5,000,000
$-
2006 2007 2008 2009 2010 2011
$(5,000,000)
Year
CAPITAL EXPENDITURE USE EFFICIENCY ($CDN)*
Total funds raised since start
Property payments, plant & equipment,
of operations in January, Cash Available
and exploration expenditures
2006
$28 Million $38 Million $33.7 Million
*Estimated projection based on in-house estimates
22
25. BOARD OF DIRECTORS
PROVEN LEADERSHIP
Frederick W. Davidson (CA) President, CEO & Director
Held senior management positions with Erickson Gold Mines Ltd. and TOTAL Energold Corp. Part of the management team that took both
the Erickson and Mt. Skukum Gold mines from discovery to production. Currently President of Energold Drilling Corp. (TSX-V: EGD).
George A. Gorzynski (P.Eng) VP Exploration & Director
Director of Tirex Resources Ltd., Defiance Silver Corp., Rupert Resources Ltd. and Berkwood Resources.
H. Walter Sellmer (P.Geo) Director
Held senior management positions with Amax Exploration, Canamax Resources and TOTAL Energold Corp.
Victor A. Tanaka (P.Geo) Director
Executive VP & COO of Bayswater Uranium Corp and Director of several TSX-V mineral exploration companies.
Richard J. Mazur (P. Geo, MBA) Director
Holds senior positions in Alto Ventures Ltd. and Forum Uranium Corp.
Peter Tredger (P. Eng, MBA) Director
Past Vice President of Thompson Creek Metals Company Inc. and held senior management positions at Glencairn Gold Corp. and
Wheaton River Mineral Ltd.
Jean-Pierre Boutin (MBA) Director
President and Money Manager in a private equity firm in Greenwich, Connecticut, former Treasurer of Xerox
Corporation, Emerging Markets.
23
26. 2012 OUTLOOK
• Commence open-pit production at the Capire Project through the 200 TPD pilot plant
• Expand Capire Zone in the north, east and south directions with a 5,000 meter drill program
• Maximize production at the 500 TPD Guadalupe Processing Plant
• Complete Oscar Project production study, which is planned to feed high-grade silver ore to the 500
TPD Guadalupe Processing Plant
• Explore potential of the Huatecosco Gold Project and continue exploration of gold-copper and
silver targets with a 15,000 meter drill program
• Pursue accelerated growth through aggressive results-driven exploration and potential accretive
acquisitions
For more information please contact
Meghan Brush, Investor Relations
+001 604 681 0172
inquiries@impactsilver.com
24
