Silver Mines advances projects, reports increased reserves and capital raising

Silver Mines Limited's 2025 Annual Report highlights substantial progress, particularly at its Bowdens Silver Project (BSP) in New South Wales, Australia. In December 2024, the company updated its Ore Reserve to 32.8 million tonnes at 68.0 g/t silver, 0.38% zinc, and 0.29% lead, yielding 71.7 million ounces of silver, 123.3 kilotonnes of zinc, and 95.6 kilotonnes of lead in contained metal. The Mineral Resource Estimate (MRE) now stands at 179 million tonnes at 31 g/t AgEq cut-off.

The company also expanded its international footprint with the acquisition of the Calico North Silver Project and a farm-in right for the Kramer Hills Gold-Silver Project, both in San Bernardino County, California. Exploration expenditures for 2025 totaled A$9,037,537. Post-reporting, in August 2025, Silver Mines completed a placement of A$30 million and a Share Purchase Plan raising A$4.07 million.

Despite ongoing pre-development works and exploration, the Group reported a loss of A$3,768,394 for the financial year. Total net assets increased to A$157,149,543 (2024: A$137,610,351).