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> SILVER MINES LIMITED 22nd July 2021 Company Announcement Officer ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Level 11 , 52 Phillip St Sydney NSW 2000 P : +61 2 8316 3997 F : +61 2 8316 3999 Info@silvermines.com.au www.silvermines.com.au ACTIVITIES REPORT FOR THE QUARTER ENDED 30th June 2021 HIGHLIGHTS Bowdens Silver Project , New South Wales • Submissions Report lodged as part of the final steps for the development approval for the Bowdens Silver Project . The Company received no objections to the Project from any of the Government agency regulators and received resounding public support for the Project . Bowdens Silver Expanded Exploration Program Recent highly successful drilling has led to the decision to substantially expand drilling activity at Bowdens Silver with increasing potential for silver mineralisation outside the current Ore Reserve . A 30,000 metre program has commenced with four rigs operational on site , the largest exploration campaign at Bowdens Silver in four years . Bowdens Silver Exploration Results Continued high - grade assay results returned from the Northwest High Grade and Aegean Zones establishing this area as a significant target for potential underground mining scenarios . Intercepts from BD21003 include : ○ 8.0 metres @ 543 g / t silver from 307 metres ; including : 3.0 metres @ 1302 g / t silver from 312 metres . In addition , shallow drilling results to the north of the Main Zone , confirms that the Main Zone remains open to the northwest of the current Ore Reserve and includes : 113.3 metres @ 113 g / t silver equivalent ( 90g / t silver , 0.29 % zinc , 0.29 % lead ) from 60.7 metres . Silver Mines Limited ABN : 45 107 452 942 Page 1