Silver Lake Resources Limited announced its Mineral Resource and Ore Reserves statement as at 30 June 2022. Ore Reserves of 1.6 million ounces gold and 5,100 tonnes copper, a 17% increase in absolute terms or 45% increase net of fiscal year 2022 mine depletion of 260,700 ounces. Mineral Resources of 6.8 million ounces gold and 16,800 tonnes copper, a 26% increase in absolute terms or 32% net of fiscal year 2022 mine depletion.

The 30 June 2022 Ore Reserves and Mineral Resource represents a 11% and 20% year-on-year increase respectively on an ounces per share basis. Deflector - Record fiscal year 2022 mine production and de-risking near term production. Deflector region Ore Reserves of 490,000 ounces gold, a decrease of 1% net of record fiscal year 2022 mine depletion of 129,403 ounces, reflecting focus on grade control rather than resource definition and target delineation drilling throughout fiscal year 2022.

Deflector region Mineral Resources total 1.42 million ounces gold, a 13% decrease net of mine depletion reflecting limited extensional drilling with a focus on sustaining exploration rather than growth exploration throughout fiscal year 2022. New intersections extend mineralisation ~70m immediately beyond Deflector South West Resource limits supporting the potential for further extensions as drilling returns to a growth focus in fiscal year 2023. Sugar Zone - Step change in data demonstrates robustness & platform for growth: Maiden JORC compliant Ore Reserves of 512,000 ounces at 30 June 2022(compared to non-JORC compliant estimate of 797,000 ounces at 31 December 2020, pre-mine depletion of 77,526 ounces to 30 June 2022).

Maiden JORC compliant Mineral Resource of 1.76 million ounces at 30 June 2022 (compared to non-JORC compliant estimate of 1,637,000 ounces at 30 September 2020, pre-mine depletion of 89,162 ounces to 30 June 2022). Significant increase in data informing Mineral Resource Estimate demonstrates the robustness of the mineral system and geological potential in addition to providing definition for future mine planning. Drilling commenced at Sugar Zone South with early results intersecting Sugar Zone style mineralisation including 0.5m at 75.9, 0.3m at 71.5 g/t, 0.3m at 40.9 g/t, 1.1m at 47.4 g/t and 1.3m at 13.8 g/t to the south of the Sugar Zone and along strike of the Lynx Zone mineralisation, located 1.5km further south along the prospective Sugar Zone deformation corridor.

Mount Monger - Investment in stockpiles and drilling demonstrate optionality: Ore Reserves of 592,000 ounces, a 2% decrease net of FY22 mine depletion of 131,000 ounces. 123,000 ounces in stockpiles provides baseload feed flexibility and significantly enhances base case mine life visibility and scheduling optionality in the prevailing operating environment. Mineral Resources increased 3% net of mine depletion to 3.62 million ounces.

Strong drilling results beyond Cock-eyed Bob Mineral Resource limits demonstrate the potential for growth within proven mineralised corridors and proximal to established underground and surface infrastructure. Ore Reserves: Group Ore Reserves at 30 June 2022 total 1,594,000 ounces of gold and 5,100 tonnes of copper. Ore Reserves have increased 235,000 ounces or 17% in absolute terms and 45% after accounting for fiscal year 2022 mining depletion of 260,700 ounces (excluding Sugar Zone production post acquisition).

Deflector: Deflector region Ore Reserves total 3.0 million tonnes at 5.1 g/t for 490,000 ounces, comprising the Deflector and Rothsay underground mines. Deflector: Deflector Ore Reserves reflect mine depletion with a focus on sustaining exploration throughout fiscal year 2022, as ongoing underground drilling prioritised grade control of the new FY23 production front, Deflector South West. Grade control drill metres increased by 27% year-on-year, whilst total drill metres remained consistent.

The Ore Reserve of 2.3 million tonnes at 4.9 g/t and 0.2% Cu for 367,000 ounces gold and 5,100 tonnes copper, is a 1% year-on-year increase in gold ounces after fiscal year 2022 mine depletion.