Business Summary

Silver Mines Limited is a silver exploration company. The Company's project includes Bowdens Silver Project, Barabolar Project, and Tuena Gold Project. The Bowdens Silver project is located approximately 26 kilometers east of Mudgee in the Central Tablelands Region of New South Wales. The Barabolar Project, which is located approximately 26 kilometers east of Mudgee in central New South Wales and 10 kilometers northwest of the Company's Bowdens Silver Project. The Company’s Bowdens and Barabolar project area comprises approximately 2,007 square kilometer (km2) titles covering approximately 80 kilometers of strike in the mineralized Rylstone Volcanics. The Tuena Gold Project is located approximately 80 kilometers south of the city of Orange in New South Wales and the area is targeted for precious metals. The Company also holds a significant land position in the Orange/Blayney district covering 747 km2.