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Development Plan

"Silver prices are set to skyrocket. The fundamentals for silver are extraordinary, and I wouldn’t be surprised to see silver prices surpass $100 USD per ounce in the coming years."

Keith Neumeyer, CEO of First Majestic Silver

Strategic Growth and Value Enhancement Pre IPO and Post Seed Capital Raising

  1. Geological Review

    A comprehensive evaluation of previous drilling results and JORC documentation indicates the potential to optimize and recalculate existing reserves, potentially adding over 8,000,000 ounces of silver.

  2. Extraction and Smelting Potential

    We have the opportunity to initiate the extraction of pregnant ponds and process and smelt an estimated 30,000-50,000 ounces of silver. This will bring the Texas Silver project back into production, making it one of the few operational silver mines in Australia—a notable differentiation for the IPO.

  3. 2024 Drilling Program

    A 5,000-metre drilling program is planned for Q3 2024. Experts suggest this could significantly increase JORC silver reserves by an additional 4,000,000 ounces.

  4. Reprocessing Historical Tailings

    By recalculating silver reserves through the potential reprocessing of over one million tonnes of historical tailings and more than three million tonnes of chemical heap leach stockpiles using CIL processing, we could add up to 6,500,000 ounces of silver to the reserves. These stockpiles are ready-to-access.

  5. Expansion of mineable Land Holdings:

    We aim to secure additional unexplored but targeted land on the borders of the existing tenements. Based on historical data, these areas are expected to contain significant high-yielding deposits. Successfully acquiring these tenements would increase the Texas Silver footprint by over 150%.

  6. Assaying Historical Core Samples:

    Historical core assays where only tested for base metals with the the limited technology at the time and the costs where prohibitive. Reviewing and assaying historical core samples could confirm further silver reserves that have not been brought to book due to the JORC requirements commercial quantities of critical metals identified in preliminary assays over the past twenty five years.

The information here outlines the strategic initiatives and growth potential of the Texas Silver Mine, positioning it as a compelling investment opportunity in the upcoming IPO.

Summary of Shareholding Structure Post $5 Million Seed Capital Raising:

  • Original Founding Shareholders - 67%
  • Seed Capital Shareholders - 33%
Total shares on issue: 150 million shares at 10 cents per share, equating to a $15 million valuation post seed capital raising.
Note: After the seed capital raising, the total shares on issue will be 150,000,000 at 10 cents each. This structure accurately represents the new $5 million investment within the company’s equity, proportionately diluting the current shareholders.

Pre IPO Development Timeline

July 30, 2024

Seed capital raising

August 14, 2024

Engineering drawings for Crushing plant

August 21, 2024

Establish on-site
laboratory for assaying
and quality control.

August 24, 2024

Completion of Geological Data review and resource upgrade

August 26, 2024

Drill team arrive onsite to commence drilling program to upgrade resources

August 30, 2024

Independent expert's Report Completed for ASX listing

August 31, 2024

Engineering drawings of CIL plant

September 5, 2024

Upgrades commerce on refining, smelting and purifying facility

September 21, 2024

Final Submissions for tenders of the crushing plant

September 30, 2024

Mining Team mobilisation onsite to commence Stage One upgrades

October 10, 2024

Final Submissions for tenders of the CIL Plant

November 30, 2024

Extraction of Silver: Commence processing of slurry ponds for initial silver production.

November 2024

Independent expert's Report Updated valuation Completed for ASX listing

TT

Commence IPO listing IPO capital raising is completed and listed on the ASX and progress to operational mine

Indicative IPO Timetable

Initial public offering and listing of Texas Silver Mines Limited

T

Lodgement with ASX of application for in-principle advice as to suitability for admission and waiver application(s)

TT+22

Receipt of conditional approval from ASX as to suitability for admission and decision in respect of waiver application(s)

T+22

Receipt of final expert/third party reports and audited accounts

T+25

Finalisation of draft prospectus

T+34

Completion of verification process

T+36

Board and DDC approval of final prospectus

T+38

Lodgement with ASX of listing application (Appendix 1A and Information Form and Checklist)

T+44

ASIC exposure period ends (unless extended)

T+44

Offer opening date

T+46

Completion of investor roadshow

T+51

Bookbuild

T+58

Offer closing date

T+72

Receipt of conditional admission letter from ASX

T+79

Issue and allotment of IPO shares

T+81

Issue of holding statements

T+81

Satisfaction of all ASX conditions to admission

T+86

Commencement of trading of Company shares on ASX

Summary of Shareholding Structure Post IPO and $10 million capital raising:

  • New IPO Capital Shareholders - 28.57%
  • Shareholder Original Founding Shareholders - 47.86%
  • Seed Capital Shareholders - 23.57%

10 million AUD to be raised via IPO at 20 cents per share This updated structure reflects the dilution of existing shareholders after raising the additional $10 million, based on the new post-money valuation of $25 million.

The information above is based on a valuation of $25 million. If we successfully implement even one of the six value enhancement strategies, it will lead to a significant increase in value of the mine, benefiting all shareholders.

Four Compelling Reasons to Invest in Texas Silver Pre-IPO

  • Strategic Asset Revaluation

    Texas Silver has initiated a comprehensive 6-part asset revaluation plan. This includes optimising existing reserves and exploring new opportunities for extraction and processing. The potential to add millions of ounces to our reserves significantly enhances the project’s value and investment appeal.

  • Favourable Market Dynamics

    Current silver supply and demand models indicate a looming shortage, which is expected to drive up prices. As an approved and regulated mine, Texas Silver is well-positioned to capitalise on these favourable market conditions, unlike greenfield and greyfield projects that face longer timelines and regulatory hurdles.

  • Robust Growth Potential

    Our planned 2024 drilling program, combined with the review of previous drilling results and the analysis of historical tailings, is expected to yield substantial increases in silver reserves. Additionally, the potential acquisition of new tenements further positions Texas Silver for significant growth and profitability, making it an exceptionally attractive investment opportunity ahead of the IPO.

  • Bigger Than Texas

    With 150 million shares on issue and 19.5 million ounces of silver to JORC, this represents 0.13 ounces of silver per share in Texas Silver. If we use the arbitrary value of say a net value of $10 per ounce, of silver to allow for the recovery production and smelting cost this would value each share in Texas Silver at $1.30 per share.