Resources & Reserves

MINERAL RESOURCE STATEMENT AS AT 30 JUNE 2021

The Company's total Measured, Indicated and Inferred Mineral Resources at 30 June 2021 are 37.8 million tonnes (Mt) @ 4.4 grams per tonne of gold (g/t Au) containing 5.41 million ounces of gold (Moz Au), including 3.0 Mt @ 0.8 percent copper (% Cu) containing 23,000 tonnes of copper (CuT). The Mineral Resources as at 30 June 2021 are estimated after allowing for depletion during FY2021.

ORE RESERVE STATEMENT AS AT 30 JUNE 2021

The total Proved and Probable Gold Ore Reserves at 30 June 2021 are 14.5 Mt @ 2.9 g/t Au containing 1.36 Moz Au, including 2.8 Mt @ 0.2 % Cu containing 5,300 CuT. The Ore Reserves at 30 June 2021 are estimated after allowing for depletion over FY2021. Ore Reserves were estimated using a gold price of A$2,100/oz, except for Santa Open Pit and Tank Underground which used A$2,200/oz.

Notes to Tables Mineral Resource and Ore Reserve tables:

1. Mineral Resources are reported inclusive of Ore Reserves.

2. Data is rounded to thousands of tonnes, thousands of ounces gold, and hundreds of tonnes copper. Discrepancies in totals may occur due to rounding.

3. All Mineral Resource and Ore Reserve estimates are produced in accordance with the 2012 Edition of the Australian Code for Reporting of Mineral Resources and Ore Reserves (the 2012 JORC Code) apart from Costello and Randalls Dam Mineral Resource estimates. The Costello and Randalls Dam Mineral Resource estimates were first prepared and disclosed under the 2004 edition of the JORC Code and have not been updated since to comply with the 2012 JORC Code on the basis that the information has not materially changed since it was last reported.

SUGAR ZONE MINERAL RESOURCE STATEMENT AS AT 30 SEPTEMBER 2020

Cautionary statement: Sugar Zone Mineral Reserves and Mineral Resources are a Foreign Estimates and not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the Foreign Estimates as Ore Reserve or Mineral Resources under the JORC Code and there is no guarantee that following further evaluation and exploration the Foreign Estimates will be able to be classified as Ore Reserves and Mineral Resources in accordance with the JORC Code. Refer to ASX announcement "Silver Lake Completes Acquisition of Harte Gold" dated 21 February 2022 ("Initial Announcement") for further supporting information in respect of the Foreign Estimate Mineral Reserves and Mineral Resources. Silver Lake confirms that the supporting information provided in the Initial Announcement continues to apply and has not materialy changed.

SUGAR ZONE MINERAL RESERVES AS AT 31 DECEMBER 2020

Cautionary statement: Sugar Zone Mineral Reserves and Mineral Resources are a Foreign Estimates and not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the Foreign Estimates as Ore Reserve or Mineral Resources under the JORC Code and there is no guarantee that following further evaluation and exploration the Foreign Estimates will be able to be classified as Ore Reserves and Mineral Resources in accordance with the JORC Code. Refer to ASX announcement "Silver Lake Completes Acquisition of Harte Gold" dated 21 February 2022 ("Initial Announcement") for further supporting information in respect of the Foreign Estimate Mineral Reserves and Mineral Resources. Silver Lake confirms that the supporting information provided in the Initial Announcement continues to apply and has not materialy changed.

MINERAL RESOURCE AND ORE RESERVE GOVERNANCE AND INTERNAL CONTROLS

Silver Lake ensures that the Mineral Resource and Ore Reserve estimates quoted are subject to governance arrangements and internal controls activated at a site level and at the corporate level. Internal reviews of Mineral Resource and Ore Reserve estimation procedures and results are carried out through a technical review team which is comprised of highly competent and qualified professionals. These reviews have not identified any material issues. The Company has finalised its governance framework in relation to the Mineral Resource and Ore Reserve estimates in line with the conduct of its business.

Silver Lake reports its Mineral Resources and Ore Reserves on an annual basis in accordance with the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code) 2012 Edition (except where stated). Mineral Resources are quoted inclusive of Ore Reserves. Competent Persons named by Silver Lake are Members or Fellows of the Australasian Institute of Mining and Metallurgy and/or the Australian Institute of Geoscientists and qualify as Competent Persons as defined in the JORC Code. The Mineral Resources and Ore Reserves statements are based upon, and fairly represent, information and supporting documentation prepared by the Competent Persons named below. The Mineral Resources statement as a whole, as presented in this Annual Report, has been approved by Antony Shepherd a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. The Ore Reserves statement as a whole, as presented in this Annual Report, has been approved by Sam Larritt a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy.

COMPETENT PERSON'S STATEMENT

The information in the ASX announcement to which this statement is attached that relates to the Mineral Resources for the Harrys Hill, Santa, Cock-eyed Bob, Maxwells, Anomaly A, Mirror/Magic, Tank/Atreides, Spice, Aspen, French Kiss, Italia/Argonaut, Lorna Doone, Rumbles, and Karonie deposits is based upon information compiled by Aslam Awan, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Awan is a full-time employee of the Company. Mr Awan has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Awan consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

The information in the ASX announcement to which this statement is attached that relates to the Mineral Resources for the Deflector and Rothsay deposits is based upon information compiled by Matthew Cobb, a Competent Person who is a member of The Australian Institute of Geoscientists. Mr Cobb was a full-time employee of the Company at the reporting date of 30 June 2021. Mr Cobb has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Cobb consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

The information in the ASX announcement to which this statement is attached that relates to the Mineral Resources for the Daisy Complex deposits is based upon information compiled by Darren Hurst, a Competent Person who is a member of The Australian Institute of Geoscientists. Mr Hurst a full-time employee of the Company. Mr Hurst has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Hurst consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

The information in the ASX announcement to which this statement is attached that relates to Ore Reserves for Deflector, Daisy, Maxwells, Cock-eyed Bob, Santa, Karonie, Tank, Atreides and French Kiss is based upon information compiled by Sam Larritt, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Larritt is a full-time employee of the Company. Mr Larritt has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Larritt consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

The information in the ASX announcement to which this statement is attached that relates to Ore Reserves for Rothsay is based upon information compiled by Chris Davidson, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Davidson is a full-time employee of the Company. Mr Davidson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Davidson consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

All other information in the ASX announcement to which this statement is attached relating to Mineral Resources is based on information compiled by Antony Shepherd, a Competent Person who is a member of The Australasian Institute of Mining and Metallurgy. Mr Shepherd is a full-time employee of the Company. Mr Shepherd has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Shepherd consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

FORWARD LOOKING STATEMENTS

This report may contain forward looking statements that are subject to risk factors associated with gold exploration, mining and production businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, Reserve estimations, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory changes, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Silver Lake. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast.