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OCTOBER 2026 Building Scale In Silver: Production and Discovery
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Important Notices This pres entation does not constitute an offer to sell or a solicitation of an offer to buy any securities of Kuya Silve r Corporation (the “Company”) . It does not purport to contain all the information that a prospective inves tor may require, and it is not intended to provide any legal, tax, or inves tment advice. Ca utionary Statement on Forw ard-Looki ng Information All statements, othe r than statements of historical fact, contained or incorporate d by reference in this pres entation, constitute “forward -looking information” or “forward - looking statements” within the meaning of ce rtain securities laws, and are based on expectations, estimates, and projections as of the date of this pres entation. Forward - looking information contained in this presentation includes but is not limited to statements with respect to (a) the Company's ability to obtain funding on favourable terms or at all; (b) anticipated exploration activities and the results of those activities ; (c) identification and de finition of mineral de posits; (d) the Company's plans in respect of de velopment and operations ; (e) schedules and budgets for the Company’s de velopment projects; (f) anticipated capital requireme nts and capital expenditures ; (g) estimates and the realization of such estimates ; (h) pote ntial mining and processing scenarios ; (i) anticipated operating costs, revenues, and cas h flow; (j) the timing and amount of estimated future production ; and (k) the future price of silver. The words “aim,” “anticipate,” “as sumption,” “believe,” “budge t, ” “continue,” “could,” “develop,” “e nhancement,” “e stimate,” “e xpand,” “e xpect,” “e xplore,” “e xtend,” “goal,” “focus ,” “fore cast,” “forward,” “future ,” “growth,” “guidance,” “indicate,” “initiative,” “inte nd,” “investigate ,” “may,” “mus t, ” “objective,” “opportunity,” “optimize,” “option,” “outcome, ” “outlook,” “plan,” “poss ible,” “potential,” “priority, ” “progres s,” “project, ” “prospective,” “pursue,” “roadmap,” “s chedule, ” “s eek,” “s hould,” “s tudy,” “target,” “vision,” “will,” or “would,” and variations of thos e words, and similar words, phrases, or statements indicating that ce rtain actions, events , or results may, could, should, or will be achieved, receive d, or taken, or will occur, identify forward -looking information . Forward -looking statements are ne cess arily bas ed upon various estimates and ass umptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant busines s, economic, and competitive uncertainties and contingencies . The estimates, models , and ass umptions of the Company referenced, contained, or incorporate d by reference in this pres entation, which may prove to be incorrect, include but are not limited to (1) there be ing no significant dis ruptions affecting the operations of the Company, whether due to extreme weather events or othe r natural dis asters, labour dis ruptions, supply dis ruptions, power dis ruptions, prote sts, blockades , damage to equipment, or othe rwis e; (2) pe rmitting, de velopment, and operations at or in respect of the Company’s de velopment projects be ing consiste nt with the Company’s current expectations, including without limitation the maintenance or modification of existing pe rmits, licenses, conse nts, authorizations , and approvals (collective ly, “Permits ”) and the timely receipt of all Pe rmits ne cess ary for the de velopment of and commencement of production at the Bethania Silve r Project (the “Bethania Project”), and the successful completion of exploration consis te nt with the Company’s expectations at the Company’s projects; (3) political and legal de velopments in any jurisdiction in which the Company operates be ing consis te nt with its current expectations, including without limitation the impact of any political de velopments in the Republic of Pe ru, and pe naltie s impose d, or actions taken, by any government, including but not limited to amendments or othe r changes to laws, regulations, rules, and policies relating to mining, environme ntal prote ction, water us e, labour and employment, safety, customs, and taxation ; (4) the completion of studies on the timelines currently expected, and the results of thos e studies be ing consis te nt with the Company’s current expectations ; (5) the exchange rate be twee n the Canadian dollar and the Pe ruvian nuevo sol be ing approximately consis te nt with current levels; (6) ce rtain price ass umptions for silver; (7) prices for dies el, electricity, and othe r key supplies be ing approximately consis te nt with the Company’s expectations ; (8) the accuracy of the current Mine ral Resource estimate of the Company for the Bethania Project; (9) access to capital marke ts consis te nt with the Company’s expectations, and sufficient to fund the activities of the Company contemplated by this pres entation; (10) pote ntial direct or indire ct operational impacts resulting from infectious dis eases or pandemics such as the ongoing COVID -19 pandemic ; and (11) the effe ctiveness of preventative actions and contingency plans put in place by the Company to respond to the COVID -19 pandemic . Known and unknown factors could cause actual results to diffe r mate rially from thos e projected in the forward -looking statements . Such factors include, but are not limited to (a) the inaccuracy of any of the foregoing ass umptions; (b) the Company’s ability to obtain financing ; (c) the speculative nature of mineral exploration and de velopment, including but not limited to the risks ass ociated with obtaining and rene wing ne cess ary Pe rmits; (d) political or economic de velopments in Canada, Pe ru, or othe r countries in which the Company does busines s or may do busines s; (e) the security of pe rs onnel and ass ets; (f) operating or technical difficulties in conne ction with mining or de velopment activities ; (g) changes in legislation, taxation, controls, policies, and regulations ; (h) litigation or othe r claims agains t, or any regulatory inves tigations, enforcement actions, administrative orders, or sanctions in respect of, the Company, its directors, officers, or employees , including but not limited to securities class action litigation, environme ntal litigation, or regulatory proceedings, or any inves tigations, enforcement actions, or sanctions under any applicable anti-corruption laws; (i) fluctuations in the currency marke ts, or in the spot or forward price of silver or ce rtain othe r commodities (such as fuel and electricity) ; (j) employee relations ; (k) contests over title to properties, particularly undeveloped properties ; and (l) busines s opportunitie s that may be pres ented to, or pursued by, the Company . Thes e uncertainties and contingencies may cause the Company’s actual results to diffe r mate rially from thos e expressed or implied in any forward -looking statements made by, or on be half of, the Company . There can be no ass urance that forward -looking statements will prove to be accurate, as actual results and future events could diffe r mate rially from thos e anticipated in such statements . Forward -looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future . All of the forward -looking statements made in this pres entation are qualified by this cautionary statement and those made in our filings with Canadian securities regulators , including but not limited to the cautionary statements made in the “Risk Analysis” section of our Manage ment’ s Discussion and Analysis dated April 21, 2023, for the year ended December 31, 2022, and the “Risk Factors ” set forth in the Company’s Annual Information Form dated April 20, 2022, for the year ended December 31, 2021, both of which are available under the Company’s SEDAR profile at www.sedar.com. The factors de scribe d in thes e statements are not intended to repre sent a complete list of the factors that could affect the Company . The Company dis claims any intention or obligation to update or revise any forward -looking information or to explain any mate rial diffe rence be twee n subsequent actual events and such forward -looking information, except to the extent required by applicable law. Amended and Restated Pre liminary Economic Assessment for the Bethania Project The Ame nded and Restated Preliminary Economic Asse ssment on the Bethania Project (the “Amended Bethania PEA”) was conducted by, and the related technical report title d “Bethania Silve r Project – NI 43-101 Technical Report (Amended and Restated Preliminary Economic Asse ssment prepared for Kuya Silve r Corporation), Huancavelica, Pe ru” (the “Amended Bethania PEA Report”), was prepared by, Mining Plus, with contributions from othe r consultants . The Ame nded Bethania PEA Report was prepared in accordance with the requireme nts of National Instrume nt 43-101 – Standards of Disclosure for Mine ral Projects (“NI 43-101”) and has an effe ctive date of Octobe r 20, 2023. The Ame nded Bethania PEA is bas ed on the Mine ral Resource estimate for the Bethania Project as set out in “National Instrume nt 43- 101 Technical Report and Maide n Mine ral Resource Estimate on the Bethania Silve r Project, Department of Huancavelica, Province of Huancavelica, District of Acobambilla , Pe ru,” a technical report prepared for the Company with an iss ue date of February 21, 2022, an effe ctive date of January 6, 2022, and an effe ctive date of December 10, 2021 for the Mine ral Resource estimate . The Ame nded Bethania PEA is preliminary in nature , contains numerous assumptions, and includes Inferred Mine ral Resources that are considered too speculative geologically to have the economic considerations applie d to them that would enable them to be categorized as Mine ral Reserves . There is no ce rtainty that the results of the Ame nded Bethania PEA will be realized . Mine ral Resources are not Mine ral Reserves and do not have de monstrated economic viability . There is no ass urance that Inferred Mine ral Resources will ever be upgraded to Mine ral Reserves . In addition, the Mine ral Resource estimate could be mate rially affected by environme ntal, geotechnical, pe rmitting, legal, title , taxation, socio-political, marke ting, and othe r relevant factors . The information in this pres entation about the Ame nded Bethania PEA should be read in conjunction with the ne ws release title d “Kuya Silve r Announces Filing of Ame nded and Restated Technical Report” iss ued on Octobe r 23, 2023, and the Ame nded Bethania PEA Report, both of which are available on the Company’s webs ite at www.kuyasilver .com Definitions In this presentation, the terms “M ineral Resource,” “I nfe rred Mine ral Resource,” “I ndicate d Mine ral Resource,” “M easured Mine ral Resource, “M ineral Reserve,” “Probable Mine ral Reserve,” and “Proven Mine ral Reserve” comply with reporting standards in Canada and are made in accordance with NI 43-101 under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Pe trole um (“CIM”) Standards on Mine ral Resources and Mine ral Reserves (the “CIM Standards”) . Thes e standards diffe r significantly from the requireme nts of the Unite d State s Securitie s and Exchange Commiss ion (the “SEC”) applicable to domes tic Unite d State s reporting companies . Accordingly, information included in this presentation that de scribe s the Company's Mine ral Resource estimate for the Bethania Project may not be comparable with information made public by Unite d State s companies subject to the SEC’s reporting and dis clos ure requireme nts. Quali fied Persons The scientific and technical content of this pres entation relating to the Bethania Project is based on the Bethania PEA Report, which was prepared by Mr. Edgard Vilela, MAusIMM (CP), Principal Mining Consultant, Mining Plus, Scott Jobin-Bevans (Ph.D., PMP, P.Geo.), Principal Geoscie ntist, Caracle Cre ek International Consulting Inc., Simon James Atticus Mortimer (M.Sc. ACSM, MAus IMM, MAIG, P.Geo.), Atticus Consulting S.A.C., Donald Hicks on, P.Eng., Klohn Crippen Berger collaborator, Laurie Tahija, MMSA -QP, of M3 Engineering and Technology Corporation, and John Woods on, P.Eng., of M3 Engineering and Technology Corporation, each of whom is a Qualified Pe rs on as that term is de fine d in NI 43-101. Each of thes e Qualified Pe rs ons is independent of the Company . The scientific and technical content of this presentation relating to the Silve r Kings Project is bas ed on a technical report title d “NI 43-101 Technical Report for the Silve r Kings Project, Ontario, Canada ,” with an iss ue date of December 3, 2021 and an effe ctive date of September 5, 2021 (the “Silver Kings Technical Report”), which was prepared for the Company in accordance with NI 43-101 by Alain Carrier, P.Geo., M.Sc. (OGQ No. 281, PG O No. 1719, NAPEG No. L2701) of InnovExplo Inc., who is a Qualified Pe rs on as that term is de fine d in NI 43-101. Mr. Carrier is independent of the Company . Information in this pres entation about the Silve r Kings Project should be read in conjunction with the ne ws release title d “Kuya Silve r Files NI 43‐101 Technical Report for Silve r Kings Project” iss ued on December 3, 2021, and the Silve r Kings Technical Report, both of which are available under the Company’s SEDAR+ profile at www.sedarplus .ca. U.S. Dollars All financial figures in this pres entation are stated in Unite d State s dollars unless othe rwise note d. 2
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3 KUY A PORTFOLIO: 3 DISTRICT-SCALE SIL VER PROJECTS Property: ~5600 Ha Located in major silver-lead-zinc mining district in Central Peru Primary Target: Bethania Silver Mine and district Development: Production – ramp-up Upcoming Catalysts: Initial production results, exploration results, production growth initiatives Central Peru IN PRODUCTION Bethania Silver Project EXPLORATION Silver Kings Project Umm Hadid Project Property: ~13,000 Ha located in Ontario’s most prolific silver mining camp, near the historic mining town of Cobalt, Ontario Primary Target: Campbell-Crawford property, Kerr Project area Development: Discovery/development phase Northern Ontario, Canada Property: Umm Hadid licenses 246 km2 or 24,600 ha Primary Target: Umm Hadid silver prospect Development: Drill program Holding 5-45% (back-in right) Kingdom of Saudi Arabia (JV with Sumou Holding)
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90% revenue from silver, only 10 -12 listed peers with >50% silver revenue. Commodity Scarcity Producing, fully permitted mine in mining-friendly jurisdictions, with USD$25M cash and no debt. De-Risked Profile 100/100 Plan for production ramp -up at Bethania, alongside active resource and regional drilling efforts. Multi-Year Growth No near-term financing required; ensuring stable capital management. Capital Discipline Peers trade at 10–35x EBITDA; peers exceed $1B market cap with steady cash flow. Under owned by institutions and ETFs Valuation Upside 4 THE KUY A ADVANT AGE – UNIQUEL Y POSITIONED AMONG SIL VER MINERS
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5 - 50 100 150 200 250 300 350 400 KUYA EXN SVRS AYA GSVR USA AGX AGMR APM ASM GGD IPT Pure Silver (g/t) Kuya among highest grade silver producers in the world (excludes all other metals) Silver resource grade (corporate average) 2025 production grade Kuya’s silver grades from Bethania give investors a unique opportunity: Higher potential profit margins without relying heavily on by-product metals PURE SIL VER GRADES – THERE IS NO “EQUIVALENT” TO KUY A
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6 BETHANIA: PIVOTAL 18 MONTHS 2026 (H2) • Continued ramp-up at Bethania, operational and financial progress • Progress with Camila plant expansion and Bethania plant development • Commence 20,000 m drill program, report drill results • Bethania Ramp – expanding underground access allowing for greater production 2027 • Commercial production and cash flow generation • Continued exploration results from Bethania underground and satellite silver vein systems • Updated 43-101 resource estimate • Expand processing scale – Bethania plant development
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7 100/100 Plan – Medium to Longer T erm Growth T argeting $100 MM/yr EBITDA, 100 MM+ ounces eq. Phase 1 Plan* • 350 tpd mining rate • >1.0 Mmoz/yr AgEq exit rate • Bethania ramp project • Start 20,000 m drill program Phase 2 Targets* • Build Bethania plant on site • Aggressive drilling to expand resources • Double production from Bethania + satellites 2028+ - Optimization • Continue to right-size Bethania based on expanding resources and processing capacity • Expand Bethania plant *Estimates based on PEA Updated 2023, see public disclosure, Company website 2026 – Ramp-Up 2027 – Operating Leverage Permitted Fully Funded Safe jurisdiction
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BETHANIA: DISTRICT-SCALE POTENTIAL 8 5,600+ Hectare Land Package 7 silver vein systems Carmelitas Bethania Mine
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BETHANIA: DISTRICT-SCALE POTENTIAL 9 Bethania is at the heart of a recognized porphyry- epithermal district with wider potential for large-scale silver, gold, copper, lead and zinc Neighbours include 6 x $20-billion- plus mining companies Carmelitas Bethania Mine
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10 We have the land! (5600+ ha) We have the targets! Discovery cost to date approx. $0.20 per Ag oz Current resource sits on 15 ha <0.3% of land, only 200 m deep 100/100 Plan 10X OUR SIL VER RESOURCES NEWLY ANNOUNCED 20,000 m drill program for 2026 • 10,000 m underground 10,000 m surface/regional Approx. scale of current resource + historical mining, upper 200 m only
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SIL VER RESOURCES (2022) 11 Bethania Near Surface Maiden Resource – Focused on Near Mine • Resource Drilling Focused On Shallow Mineralization Proximal to Bethania Mine Workings • The resource estimate consisted of data collected from the 2021 (phase 1) 5,000 - metre diamond drilling program as well as previously collected underground rock chip samples. • 2026 underground drilling to extend known vein mineralization at depth and along strike to the east. Category Tonnage Grade Contained Metal Ag (g/t) AgEq (g/t) Ag (oz) AgEq (oz) Indicated 404,000 332 469 4,312,312 6,090,288 Inferred 700,000 249 369 5,603,871 8,303,361 Note: See the Amended and Restated Bethania PEA (October 2023) Report for further details.
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BETHANIA: PRODUCTION AND RESOURCE GROWTH 12 Note: See the Bethania PEA Report and Company press releases for further details on exploration activities. Bethania Mine Long Section – PEA: 350 tpd production for 7 Years from starter block (RED) Española 2: Historic Workings (no resource) Open Unexplored N 20+ sub-parallel veins OpenOpen Santa Elena Vein Sample 91.1 oz/t Ag, 5.20 g/t Au (110.7 oz/t Ag eq.) Mercedes Vein Daniela Vein Bethania Main Zone Hilltop Zone 0 250m Bethania Maiden Resource 180 – 230 m Samantha/24 Vein Sample 33.8 oz/t Ag, 19.7% Pb, 0.78 g/t Au (54.1 oz/t Ag eq.) Carmen Au-Ag vein, up to 6 g/t gold at surface discovered 2022 (not in resource) Drilling now
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EXPANSION OF MINERALIZATION AT BETHANIA MINE AREA 13 • The Capri 98 prospect consists of a vein structure that is interpreted to be at least 500 m long immediately north of the Bethania mining concession. • Extensions to the Hilltop zone vein cluster were observed and sampled in both strike length directions NW and SE. • These were among the highest grade samples collected in the most recent program.
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NEW DISCOVERY: MILLOCOCHA (OUESTE AND NORTE 14 Numerous mineralized veins identified with grab samples up to 2,630 g/t silver • The Millococha area represents a fourth important zone of silver mineralization within the scope of the Bethania Project • Targets located nearby past producing artisanal mine(s), including: • 12 samples collected with over 1000 g/t silver equivalent*, with grades up to 2,630 g/t silver (2,668 g/t silver equivalent*) • Silver mineralization sampled across dense network of more than 10 veins at Millococha Oeste 14
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15 THE SIL VER KINGS PROJECT Silver-Cobalt District with World-Class History • Dual strategy of re-processing silver-cobalt rich tailings and stockpiles while pursuing new (underground) primary discoveries like Campbell -Crawford • The ~13,000 hectare land package in NE Ontario is located within th e historic Cobalt, Ontario silver mining district • Approximately 1/6 of total silver production from the Cobalt and Silver Centre mining camps was produced from Kuya’s consolidated property package (96 / 550MM oz) • District has seen little to no exploration for silver over the past 40 years • Kuya holds a 100% interest in the Silver Kings properties
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ANGUS VEIN DISCOVERY 16 Campbell-Crawford narrow silver vein AND wider mineralization • 23-SK-08: 3.34 m @ 15,372 g/t silver • 23-SK-13: 2.49 m @ 2,424 g/t silver • 24-SK-23: 11.49 m @ 379 g/t AgEq incl. 1,374 g/t AgEq over 2.36 m • 24-SK-24: 28.60 m @ 107 g/t AgEq incl. 553 g/t AgEq over 2.90 m
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Umm Hadid Silver Joint V enture - Saudi Arabia 17 JV Structure • Partnered with world-class Saudi conglomerate Sumou Holding • Kuya provides technical expertise • 5% carried interest over permitted work program (to 2029) • Back-in right to acquire additional 40% by reimbursing pro rata expenses to April 2027 Successful Initial Drill Program (5,000 m) • 2.5 km x 5 km footprint of silver-gold veins identified on surface • Near-surface veins within wider mineralized zone • 2026 Highlights • 12.0 m @ 151 g/t Ag (incl. 1.4 m @ 576 g/t Ag) • 26.1 m @ 78 g/t Ag (incl. 0.3 m @ 3779 g/t Ag) • Drilling on-going towards first resource estimate
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18 Shares O/S: 195 million Warrants: 37 million Options/RSU: 4 million Total Fully Diluted 236 million Cash Position Cash 30/06/26: USD$25.5 million Debt: none Major Shareholders Management & Directors: 7% Black Maple, US Global Sprott SLVR ETF, Eric Sprott, Rob McEwen, Vivid Capital, Epic Capital Global Family Offices Research Coverage Alliance Global – Jake Sekelsky Noble Capital – Mark Reichmann CAPITAL STRUCTURE
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MANAGEMENT & DIRECTORS 19 David Stein, MSc (Geo), CFA President and CEO, Director Mr. Stein founded Kuya Silver in 2017 to acquire the Bethania Silver Mine and develop the world’s next major silver mining company. Mr. Stein has spent most of his 25- year career in mining investments, first as a sell-side analyst specializing in precious metals and more recently as an investment manager. Christian Aramayo, MSc (Eng), CEng Chief Operating Officer, Director Mr. Aramayo is a UK-educated Peruvian engineer, previously worked on global projects for Kinross before starting his own mining consultancy. Based in Lima, Peru, Mr. Aramayo manages Kuya’s technical team for engineering and planning in addition to accessing a deep network in South America and globally. Sheila Magallon, CPA Chief Financial Officer Ms. Magallon, CPA, has 20 plus years of mining industry experience, specializing in finance, strategy, and operations across Latin America and Europe. She was most recently CFO at ATEX Resources and previously VP of Finance at GCM Mining, leading its merger with Aris Mining. She has held senior roles at Detour Gold, Torex Gold, Primero Mining, and Largo Resources. Tyson King VP Corporate Development Mr. King has over 15 years experience in the management of publicly trading and privately held companies within the commodities and natural resources sector. He has been actively engaged in overseeing the day-to-day operations of several companies where he’s held various senior officer positions throughout his career. Mr. King holds a BA in Economics from the University of Calgary. Maura Lendon, LLB, MBA, LLM Chair of the Board Ms. Lendon, is a seasoned, internationally-experienced executive and general counsel with 25 years experience in the mining and tech industries gained after initially practicing with top Bay Street law firms. Ms. Lendon is Chief Operating Officer of Greenlane Renewables Inc. and is also a director of Revival Gold Inc. Previously, she was Chief General of Primero Mining and Chief Legal Officer of Hudbay Minerals. Eugene McBurney Director Mr. McBurney is a veteran investment banker with 25+ years of experience focused on Latin America and the Caribbean. He co-founded GMP Securities and led major deals in mining and resources. A former law firm partner, he holds BA, MA, LL.B, and LL.D degrees from top Canadian institutions. Andres Recalde Director Mr. Recalde is the Director of Mining for Common Good. His expertise is with social performance and building stakeholder confidence for the extractive industries. Mr. Recalde is Peruvian/Canadian and has worked extensively all over Latin America as a consultant, advisor and corporate director to mining companies such as Barrick Gold, Pan American Silver and Torex Gold. Sandro Ferrarone Director Mr. Ferrarone is Vice President, Country Manager—Mexico at Coeur Mining, overseeing operations and growth of its Mexican assets. With 30 years in mining, he has held leadership roles at Coeur and Newmont, and managed sites in Chile, Peru, and Bolivia. He holds degrees in Industrial Engineering, an MBA, and a Master’s in Mining Engineering. Dr. Osbaldo Zamora, PGeo VP Exploration Osbaldo Zamora is a senior exploration geologist with over 25 years of international experience in mineral exploration, project management, and technical leadership across North and South America. Previously, he held senior technical and management roles with Discovery Silver, Minera Adularia, Azucar Minerals, and Altiplano Minerals. Dr. Zamora holds a Ph.D. in Economic Geology from the University of Alberta, an M.Sc. in Petrology and Geochemistry from the National University of Mexico. Lisa Wilkinson Director Ms. Wilkinson is VP of Investor Relations & Corporate Communications at Centerra Gold, with 20+ years of experience in investor relations, corporate development, and capital planning. She has held senior roles at Eldorado Gold, TMAC Resources, Kinross, and major banks. Lisa holds a BASc in Chemical Engineering, an MBA, and is a licensed P.Eng. and PMP.
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Email our team at info@kuyasilver.com for more information @KuyaSilver KuyaSilverCorp Follow Kuya Silver Kuya-Silver Start your journey at www.kuyasilver.com