Garrett Goggin Garrett Goggin If you recall, we haven't been back to Las Chispas since the 2020. So it's been pretty much on the shelf working on the technical report and doing the infield drilling, mostly around Babicanora. There's some new opportunities that we're seeing at Los Chispas. We'll see how they come to fruition. All the time, we maintain between 12 and 16 faces. And our limit at this point is certainly not the faces, but more of our drilling capacity, which we're working actively with contracto ...

Financial Data and Key Metrics Changes - In Q2 2023, the company reported a net income of $23.7 million or $0.16 per share, which included an unrealized foreign currency loss of $8.6 million [18] - Net free cash flow for the quarter was $43.7 million or $0.30 per share, an increase from $21.8 million in Q1 2023 [18] - The company ended the quarter with $59 million in treasury assets, including approximately $53 million in cash and $6 million in bullion [18] Business Line Data and Key Metrics Changes - The Las Chispas operation sold 13,400 ounces of gold and 1.45 million ounces of silver in Q2 2023, aligning with estimates [4] - The average mining rate increased to 818 tons per day, a 16% increase from Q1 2023 [4] - The processing plant achieved an average daily throughput of 1,186 tons per day and recovered 2.84 million silver equivalent ounces in Q2 [9] Market Data and Key Metrics Changes - The company expects to produce between 4.8 million ounces to 5.2 million ounces in H2 2023, with cash costs projected between $7 to $8.50 per ounce sold [22] - Full year 2023 guidance is set at 9.8 million ounces to 10.2 million ounces at all-in sustaining costs between $12.75 to $13.75 per ounce sold [22] Company Strategy and Development Direction - The company is focused on maintaining a defensive balance sheet while being opportunistic in capital allocation [7] - A $10 million drilling budget has been approved for exploration efforts through Q1 2024, targeting high-grade silver resources near current operations [11] - The company aims to add bullion to its balance sheet as a hedge against inflation and to enhance its valuation [36] Management Comments on Operating Environment and Future Outlook - Management highlighted the importance of executing the development plan and expects sustaining costs to increase as mine output ramps up [38] - The company is aware of the challenges in discovering, permitting, financing, building, and operating a mine, and sees the share buyback as a way to reinvest in its assets [19] Other Important Information - The company delivered its inaugural ESG report and received recognition as a socially responsible company in Mexico for 2023 [5] - The updated technical report was released, reflecting a production and cost profile aligned with the current operating environment [16] Q&A Session Summary Question: Regarding the stockpile accounting and costs - Management noted that higher cost stockpiles were used in the quarter, which drove up unit costs, and emphasized the need to ramp up mine output [24][42] Question: Exploration budget allocation - The majority of the $10 million exploration budget will focus on near-mine exploration, with no current budget for El Picacho due to pending permits [29]

6 Guidance | --- | --- | --- | --- | |--------------------------------------------|------------------|-----------------|-----------------| | Guidance metric (1) | Unit | H2, 2023 | 2023 | | AgEq Ounces | Million oz sold | 4.8 - 5.2 | 9.8 - 10.2 | | Cash Costs per AgEq Ounce (2) | $/oz AgEq sold | 7.00 - 8.50 | 7.50 - 8.50 | | AISC per AgEq Ounce (2) – Mine Level | $/oz AgEq sold | 11.75 - 13.50 | 10.75 - 11.75 | | AISC per AgEq Ounce (2) – Corporate | $/oz AgEq sold | 13.75 - 15.50 | 12.75 – 13.75 | Cash Co ...

Las Chispas – Reserve replacement, target generation ESG Inaugural ESG Report in Q2, 2023 7 Silver Crest Questions Meeting date: March 23, 2022 Cautionary Statements This presentation contains "forward-looking statements" and "forward-looking information" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. These include, without limitation, statements with respect to: the strategic plans, timing and expectations for the Company's ex ...

Financial Data and Key Metrics Changes - The company generated revenue of $58 million in Q1 2023, with a cost of sales of $22.4 million, resulting in a mine operating margin of 61% [34] - Net free cash flow was reported at $19.3 million, equating to $0.13 per share [5] - The company ended the quarter with $45.8 million in cash and cash equivalents, alongside an undrawn $70 million revolving credit facility [6] Business Line Data and Key Metrics Changes - The Las Chispas operation's processing plant averaged a daily throughput of 1,160 tonnes, processing a total of 104,000 tonnes during the quarter [37] - The plant recovered 2.44 million ounces of silver equivalent in Q1, with expectations for similar levels in Q2 2023 [37] - Approximately 40% of production feed was sourced from stockpiles during the quarter, which helped reduce risk and provide flexibility [15] Market Data and Key Metrics Changes - The corporate level All-In Sustaining Cost (AISC) was reported at $11.45 per ounce of silver equivalent, reflecting some inflationary impacts [38] - The company noted that inflationary pressures in Mexico have led to a 20% to 25% increase in costs over the last several quarters [44] Company Strategy and Development Direction - The company is focused on ramping up production and reducing operational and financial risk, with a strong emphasis on debt repayment [32] - An updated Technical Report is scheduled for release in late Q2 2023, which will include refreshed costs, updated resources, and a new life of mine plan [16] - The company is exploring opportunities for mergers and acquisitions, as well as holding bullion as part of its treasury strategy [60][90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ramp-up of underground mining rates, which are expected to continue increasing over the next few years [36] - The situation regarding revised mining reforms in Mexico remains fluid, with ongoing discussions to assess potential impacts on concessions [18] - Management acknowledged the need to manage costs amid inflationary pressures but remains optimistic about operational performance [21] Other Important Information - The company has prepaid a total of $25 million in debt during Q1 2023, reducing total debt outstanding to $5 million [12] - The company received a notable ESG award in Mexico and is on track to deliver its inaugural ESG report in Q2 [33] Q&A Session Summary Question: Comments on strong quarter and rapid debt paydown - Management acknowledged the rapid debt repayment and noted that inflationary impacts have been significant, affecting costs [44] Question: Concerns about mine grade and stockpile levels - Management expressed satisfaction with the grade management and stockpile utilization, indicating that the updated Technical Report will provide further clarity [48] Question: Inquiry about mining veins and phases - Management confirmed that they are currently mining in the Babicanora Area and are satisfied with the number of phases being worked on [64] Question: Factors limiting capital development rates - Management indicated that timing and ventilation were the primary factors affecting the capital development rate [54] Question: Clarification on stockpile management and grade stabilization - Management explained that they are blending stockpiles from various sources to stabilize the grade fed to the plant, which helps control costs [67]

Financial Performance - SilverCrest generated $43.5 million in revenue from the sale of 11,400 ounces of gold and 1.1 million ounces of silver in 2022, compared to $Nil in 2021[6] - The company achieved mine operating income of $28.4 million in 2022, with a cost of sales of $15.1 million, resulting in a significant turnaround from a loss of $22.8 million in 2021[6] - As of December 31, 2022, SilverCrest had cash and cash equivalents of $50.8 million, down from $176.5 million in 2021, and a debt balance of $50 million, reduced from $90 million[6] Mine Development - The Las Chispas Mine construction was completed for $133 million, which was $4.7 million below the 2021 Feasibility Study estimate[6] - The company declared commercial production effective November 1, 2022, after achieving several operational targets ahead of schedule[6] Production and Recovery - In Q4 2022, SilverCrest recovered 11.9 koz of gold and 1.2 million ounces of silver, with recovery rates of 96.9% and 93.3%, respectively[9] - SilverCrest's ore stockpiles at the end of 2022 were estimated at 261 kt, below the 2021 Feasibility Study estimate of 311 kt, supporting financial de-risking[11] Debt Management - The company prepaid $15 million of its term facility in March 2023, reducing outstanding debt to $35 million, marking a 60% reduction in debt since declaring commercial production[8] Safety Performance - The company reported an improvement in its lost time injury frequency rate (LTIFR) to 0.42 in 2022, down from 0.63 in 2021, indicating enhanced safety performance[11] Future Plans - SilverCrest plans to deliver an updated technical report in Q2 2023, which will provide updated cost and production guidance[3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2022. Commission File Number 001-38628 SilverCrest Metals Inc. (Translation of registrant's name into English) 570 Granville Street, Suite 501 Vancouver, British Columbia V6C 3P1 Canada (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual ...