November 2016

Cautionary Statements Forward-Looking Statements: 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, 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. Cautionary Statement: The Company’s decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company’s geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company, and in the track record of mineral production and financial returns of the Company since 2006. Under NI43-101 the Company is required to disclose that it has not based its production decisions on NI43-101-compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure. NI43-101 Qualified Person: George Gorzynski, P. Eng., Vice President, Exploration and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical information in this presentation with the exception of the Capire project mineral resource estimate. Steven Ristorcelli, C.P.G. (U.S.A.), Principal Geologist for Mine Development Associates and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the Capire mineral resource estimate and directly related information.

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Overview SILVER PRODUCTION NEW HIGHER GRADE SILVER MINES GOLD & COPPER ZONES EXTENSIVE EXPLORATION UPSIDE HIGH GRADE DRILL TARGETS

IMPACT Silver has been a steady silver producer for the past 10 years with low cost operations on one large property covering two silver districts in central Mexico. In response to lower silver prices, mining has successfully transitioned much of its production to new higher grade silver mines IMPACT has also carried out initial test mining of new gold zones and metallurgical testing of copper zones in the Carlos Pacheco area of the property, with the future aim to diversify Company metal production Exploration continues to evaluate some of the 4,500+ historic mine workings in the district indicative of extensive silver and gold mineralizing systems New high grade drill targets have been defined on large vein systems in the San Ramon Deeps, Alacran North, El Paso and San Pablo Norte areas 3

Directors & Management Frederick W. Davidson, CA

President, CEO, Director

President of IMPACT Silver and Energold Drilling Corp. Over 33 years of mining experience, including holding various senior positions at Erickson Gold Mines Ltd. and Mt. Skukum Gold Mines.

George Gorzynski, P. Eng.

VP Exploration, Director

Over 30 years of exploration and mining experience; also current Director of Defiance Silver, Tirex Resources and Berkwood Resources.

Tiffany Dang, CA

CFO

Chartered Accountant for over 10 years, initially with PriceWaterhouseCoopers in their audit and transaction services divisions in Canada and the USA. In 2010 joined Energold Drilling Corp. as Corporate Controller and in 2016 appointed Chief Financial Officer of IMPACT Silver.

Armando Alexandri

COO

Over 35 years of mining experience in underground and open-pit mines as well as flotation and cyanidation processing plants.

Victor Tanaka, P. Geo

Director

Richard Mazur, P. Geo, MBA

Director

President and CEO of Forum Uranium Corp. and CEO of Alto Ventures Ltd. Held senior positions at Canamax Resources and Pan Ocean Oil.

Peter Tredger, P. Eng., MBA

Director

Former Senior Officer of Thompson Creek Metals Company. Held senior positions at Glencairn Gold (now B2Gold) and Wheaton River Minerals (now Goldcorp).

Jean-Pierre Bourtin, MBA

Director

President of a private equity firm in Connecticut, USA. Former Treasurer of Xerox Corp., Latin American and Emerging Markets.

Robert W. Lishman

Director

Over 40 years of investment industry and business experience with strong portfolio management and financing expertise, currently Managing General Partner of investment fund Yellowjacket, LP. 4

President & CEO of Bayswater Uranium Corp. Held senior positions at Asamera Inc., Freeport McMoRan Gold Corp., Aber Resources, Cominco, Fjordland Exploration and Pathfinder Resources.

Property Description

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100% owned and operated large 357 km² (35,700 ha) mineral concession package in south-central Mexico.

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Two contiguous mineral districts with long history of silver mining and nascent gold mining.

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A 3.5 hour drive southwest from Mexico City, with paved road access to the gate of IMPACT’s Guadalupe Production Center.

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Excellent infrastructure, with a modern power grid, ample water supply and a skilled, 99% Mexican workforce.

•

Many other significant mining operations in the region. 5

Prolific Mining History

Nombre de Dios

La Zorra Some of the 75 historic processing plants of the Zacualpan District

El Calvario

La Fortuna

El Calvario

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The Royal Mines of Zacualpan is one of the oldest mining districts in the Americas, with nearly 500 years of recorded mining history

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IMPACT’s large land package has a long history of silver mining and recently began test mining of gold on the property

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IMPACT’s exploration work has catalogued over 4,500 old mine workings and 75 historic processing plants, indicating extensive historical mining, large exploration potential and forming an invaluable database for modern and effective exploration

La Cadena

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Mines and Processing Plants • Two modern Processing Plants and multiple mines • The 500-tpd Guadalupe Production Center is the main production facility which receives mineral from three underground mines located within close proximity: • San Ramon Silver Mine • Cuchara Silver Mine • Mirasol Silver Mine • The 200-tpd Capire Pilot Plant is currently on care and maintenance, and was most recently used to bulk test the processing of gold and copper feed from the Carlos Pacheco Zone 7

One Property - Two Processing Plants GUADALUPE PRODUCTION CENTRE (500 TPD)

CAPIRE PILOT PLANT (200 TPD)

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One Property - Three Producing Mines

San Ramon

Cuchara

Mirasol

Began production in 2004. Current high grade silver production from a new large vein at depth – San Ramon Deeps Wide high grade drill results recently announced – additional drilling planned Contribution to total production in Q3.2016: 40%

Began production in 2013 Corridor of epithermal veins linking new and legacy mines Production is from medium grade epithermal silver and lead-zinc veins Contribution to total production in Q1.2016: 42%

Began production in 2014 High grade epithermal silver veins Soon to close and will be replaced by San Patricio Silver Mine development project Contribution to total production in Q1.2016: 18%

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San Ramon Deeps High Grade Silver Mine , New Drill Results •

• Open for expansion

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Recent drilling has been expanding the new deep high grade silver vein at the San Ramon Mine – the San Ramon Deeps Zone Recent mining averaged 214g/t Silver (mining diluted grade) from Levels 18, 19, 21, 22 The zone remains open for expansion to the north, down dip and up dip with additional underground drilling planned

Area of new drill intersections; assays pending Open for expansion

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San Ramon Deeps Cross Sections New high grade silver assays over very wide widths •

New drill results released May 5, 2016 include: • 14.82m grading 481 g/t silver • Including 9.9m grading 610 g/t silver • 21.7m grading 271 g/t silver • Including 11.0m grading 402 g/t silver • 10.0m grading 349 g/t silver • Including 6.4m grading 465 g/t silver

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These are the best drill intersections ever drilled on the property

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An additional 11 holes have been drilled on downdip extension; assays pending

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The zone remains open for expansion with additional underground drilling planned 11

San Ramon Deeps Table of All the Recent High Grade Drill Results

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San Patricio Silver Mine New Mine Development •

•

•

Drilling in 2007-2008 returned assays including 242g/t silver over 4.6m and 935g/t silver over 0.6m The zone remains open for expansion to the north, down dip and up dip with additional surface drilling pending soon 500m access crosscut is currently being excavated from (former) Chivo Mine workings with mining projected to begin in Q1/2017

2150

S

2150

SECCION LONGITUDINAL MINA SAN PATRICIO

San Patricio Silver Mine Long Section

N

SIMBOLGIA

RESERVAS INDICADAS CON BARRENACION BNO NO ECONOMICO PROYECTO

2100

No. BARRENO Z11-36 Ag ANCHO 3.00 - 258 -

0.17

2100

-0.29 2050

2050

SOCAVON SAN PATRICIO

2000

Z08-20 2.34-19-0.03-0.05

2000 Z08-17 1.46-41-0.40-1.01

Z07-25 Z07-25 4.78-122-1.57-1.82

Z08-21 2.08-11-0.15-0.17

2.9-152-1.91-2.16

1950 Z08-18 0.66-32-1.28-1.89

Z07-26 Z07-26 8.00-242-0.31-0.63

4.6-242-0.31-0.63

1900

Z08-22 1.34-12-0.01-0.03

Open for expansion ÁREA SIN EXPLORACIÓN. with drilling pending

1950

Z08-19 1.93-346-0.20-0.42 1900

o

Z07-27 Z07-27 1.40-219-0.26-0.62

PROY. CRUCERO A MINA EL CHIVO 1850

0.4-369-0.20-0.88 Z07-28 o 0.99-935-0.47-2.14 Z07-25 2.9-152-1.91-2.16

ELEVACION CHIVO NIVEL1

Z07-28 0.50-106-0.11-0.23

1850

MINERA EL PORVENIR DE ZACUALPAN S.A DE C.V

SECCION LONGITUDINAL MINA SAN PATRICIO REVIZO : F H R

LEVANTO : S.V.V.

APROBO: F H R

ENERO 2016

VIENDO AL NE ESCALA

1 : 500

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Big Exploration Upside

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Exploration continues to evaluate the 4,500+ historic mine workings located on hundreds of mapped veins (red lines on map) on an extensive mineralizing system

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Area 1: Brownfields exploration for silver veins within close trucking distance to the Guadalupe plant; area includes the San Ramon, Cuchara and San Patricio mines Area 2: Early stage exploration for Zacualpan southeast extension silver veins Area 3: Brownfields to intermediate exploration on silver-rich VMS and vein targets; includes the open pit Capire mine Area 4: Brownfields to early stage exploration on copper-gold and silver vein targets

Area 1 Area 4

Area 2

• •

Area 3

•

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Area 1: San Felipe Corridor Exploration Area •

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• • • •

A number of drill targets have been developed on veins between the Guadalupe Mill and the Chivo Mine Socavon Zacualpan and El Paso are on the mine access road less than 1km from the mill San Felipe is an old multilevel mine Chivo Norte is a series of veins on the north extension of the Chivo Mine Other areas are being mapped and sampled to develop more drill targets Surface drilling is planned in early 2017 on San Felipe, El Paso and Socavon Zacualpan targets 15

Area 1: Alacran North Exploration Area • Guadalupe Mine >>10M oz Ag historic production

Guadalupe Deeps

San Ignacio Remedios El Progresso Alacran Deeps Alacran Mine Large historic silver & gold production

1.2+ km zone

El Paso

Alacran Deeps Drill Target

Drill Targets

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Numerous drill targets are being developed on veins with high silver and gold assays located between two large historic Mines The Guadalupe Mine to the north produced over 10 million ounces silver between 1972-1991, and much more since first recorded production in 1529 The Alacran Mine to the south is marked by extensive underground workings with historic reports of high grade silver and gold mining beginning before 1527 16

Area 2: San Pablo North Exploration Area •

• Old mines Mines Old Processing Plants

• High Discovery Potential

Epithermal Silver Veins

Early stage exploration has discovered numerous old mines and old processing plants These old mines are being opened and sampled to develop drill targets Further work is planned in this area of high potential for silver 17

Area 3: Capire Mine and Plant

N

Open-pit

200 tpd pilot plant

3D model of planned open-pit Mill Tailings facility

Capire open-pit 3D model 12

Capire open-pit Mine and Pilot Plant on VMS Silver–Lead-Zinc Deposit (currently on standby)

New Capire NI43-101 Mineral Resources Cutoff US$ 10 15 20 25 30 35 40 45 50 60 70 80 90 •

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Tonnes 4,465,000 3,450,000 2,707,000 2,177,000 1,786,000 1,490,000 1,242,000 1,035,000 859,000 636,000 489,000 381,000 294,000

US$ 36.20 43.24 50.37 57.19 63.74 69.96 76.47 83.30 90.69 103.31 114.89 126.33 138.53

g Ag/t 44.21 53.03 62.22 71.06 79.49 87.65 96.20 105.37 115.49 133.60 150.72 167.97 187.15

%Zn 0.72 0.85 0.98 1.10 1.22 1.33 1.45 1.56 1.69 1.88 2.04 2.20 2.34

Inferred %Pb Oz Ag 0.31 6,346,000 0.37 5,881,000 0.43 5,414,000 0.49 4,974,000 0.54 4,563,000 0.59 4,199,000 0.65 3,842,000 0.70 3,507,000 0.75 3,189,000 0.84 2,732,000 0.92 2,370,000 0.99 2,057,000 1.07 1,772,000

lbs Zn 71,183,000 64,914,000 58,444,000 52,766,000 47,975,000 43,692,000 39,596,000 35,693,000 31,983,000 26,339,000 22,034,000 18,455,000 15,194,000

lbs Pb 30,212,000 28,072,000 25,755,000 23,522,000 21,423,000 19,504,000 17,666,000 15,905,000 14,203,000 11,793,000 9,909,000 8,338,000 6,966,000

Mineral Resources are current as at January 9, 2016. The reported mineral resource (“Base Case”) cutoff grade is US$30/tonne in the table. Steven Ristorcelli, C.P.G. (U.S.A.), Principal Geologist for Mine Development Associates and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for this Capire project mineral resource estimate (See IMPACT Silver news release dated January 18, 2016 for supporting information and other details.)

Geology of Epithermal Vein Systems Metal Level in Producing Mines

San Ramon Mine Deeps

Metal Zoning in Mineral Shoots Strike Length 150 – 1200 m (500 – 4,000 ft)

Silver-rich at top of vein 150 – 1,000+ g/t Silver

Depth Surface – 0 m (0 ft)

San Patricio Zone Cuchara-Oscar Mine

Carlos Pacheco/San Juan Zone

150 m (500 ft)

Lead and Zinc-rich at bottom of vein 50 – 120 g/t Silver Gold-copper at depths of 300 m+

300 m (1,000 ft)

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Area 4: Carlos Pacheco / San Juan Gold-Copper Zone

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•

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Test mining of gold and metallurgical testing of copper carried out at Carlos Pacheco South in 2014 Drilling in 2013-14 began outlining the larger San Juan GoldCopper Zone The Zone remains open for expansion to depth with additional drilling planned

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Rapid Exploration To Mine Development A cornerstone of IMPACT’s success has been rapid mine development to increase mill throughput and generate near-term cash flow – drilling to production typically in