Investment Overview

Near-term exploration will proceed in two phases:

Silver Bow Mining drilled 8 surface holes totaling 4,700 feet in 2021. The near-term exploration plan expands on this work.

Shares, dilution instruments, and balance-sheet position. Figures are dated and reconciled to the Company’s public filings.

Share and balance-sheet figures are from the Company’s Q1 2026 Form 10-Q (period ended March 31, 2026; shares outstanding as of May 14, 2026) and the Form 8-K filed July 2, 2026 (60,000 options granted June 26, 2026). Cash is the March 31, 2026 balance, before the ~$54.6M net IPO proceeds received May 1, 2026. The fully-diluted figure is an illustrative as-converted sum and does not apply the treasury method. All figures to be reconciled to the Company’s latest filings before publication.

Beneficial owners of more than 5% of common shares, as disclosed in Schedules 13D and 13G filed with the SEC. Insider holdings are reported on Forms 3 and 4, available in the SEC Filings feed.

Percentages are as reported by each filer, based on 29,518,500 shares outstanding as of May 1, 2026 (per the filings). Holdings may have changed since the filing dates; this table is updated as new ownership filings are made. It will expand to include insider and management ownership when the Company’s first proxy statement is filed.

• ◆Surface exploration drilling
• ◆Underground rehabilitation and exploration tunnels
• ◆Underground drilling
• ◆Metallurgical test work
• ◆Environmental baseline studies
• ◆NYSE American listing fees
• ◆Salaries, professional fees, and general corporate & working-capital purposes

Per the Company’s IPO prospectus (Form 424B4 filed April 30, 2026; a second 424B4 with identical offering terms, including the Canadian prospectus, was filed May 1, 2026) and Q1 2026 Form 10-Q. The offering comprised 5,200,000 shares at $11.50 (~$59.8M gross; ~$54.6M net after underwriting discounts and expenses), with a 30-day over-allotment option for up to 780,000 additional shares. The prospectus lists the intended uses above but does not disclose a dollar or percentage allocation by category; a deployment tracker will be added as the Company reports use of proceeds in future filings.

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For each risk area: where the project stands today, and the next milestone that moves it. This is the core of the investment case: what risk has been reduced, what remains, and what comes next.

Expected timings are based on statutory reporting deadlines and are subject to change. Confirmed dates for earnings, conferences, and the annual meeting are announced by press release and posted here. Subscribe to email alerts to be notified.

Permitting is among the most material risks for a U.S. mining project. Current authorizations and the path ahead:

The Rainbow Block sits within the historic Butte mining district, adjacent to legacy environmental (Superfund) areas. The Company maintains baseline environmental work and community engagement as part of its social licence to operate.

Environmental matters in the Butte district are regulated and actively managed; ongoing regulatory engagement supports long-term district stability. Statements regarding remediation responsibility reflect the Company’s understanding of the CERCLA framework applicable to its properties; see the risk factors in the Company’s SEC filings.

Coverage last confirmed July 9, 2026. The views, estimates, and performance outlooks expressed by these analysts are solely their own and do not reflect the opinions of Silver Bow Mining or its management team. Coverage may change without notice, and any estimates or recommendations are the analysts’ own. The Company does not adopt, support, or take responsibility for any of the information, conclusions, or recommendations presented by these third parties.