Growing and advancing one of the world’s largest

undeveloped silver and indium resources.

VALUE.GROWTH.VISION

Corporate Presentation

September 2011

TSX: SAC, US OTC: SOHAF

www.soamsilver.com

Cautionary Notes

2

Certain statements contained herein constitute “forward-looking statements.” Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “plans,” “intends,” anticipates,” “should,” “estimates,” “expects,” “believes,” “indicates,” “targeting,” “suggests,” “potential,” and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Investors are advised to review the Company’s Annual Information Form filed at www.sedar.com for a detailed discussion of investment risks. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

Investment Highlights

3

• Experienced management team with track record of successful project development and value creation

• Two large-scale deposits in South America

• Malku Khota: one of the world‘s largest silver-indium-gallium resources

• Escalones: high potential copper-silver-gold deposit

• Updated 2011 PEA study doubles estimated production to 13.2 M oz silver, 80 tonnes of indium and 15 tonnes of gallium per year, for first 5 yrs

• Measured and Indicated resources expanded 60% to 230 M oz silver

• Well defined business plan to drive shareholder value

• Leveraged to silver nearly 4 oz of silver per share (6 oz silver equivalent)

• Attractive investment value relative to peers at low value per oz

• Exposure to the high-tech indium and gallium market

• Potential value from new copper-silver-gold resource

• Strong focus on community relations

• Well financed into feasibility

South American Silver Corp.

World-Class Deposits

4

Two large-scale assets in South America

Malku Khota, silver-indium project, Bolivia (100%) • Bulk mineable open-pit, sediment hosted deposit • Low capital and operating costs as a heap leach or milling

operation • Update resource increases M&I 60% to 230 M oz silver

• Pre-Feasibility process started in 2011 & Feasibility in 2012 • Resource expansion potential with only 4 km of 50 sq km property drill tested • Potential to be one of the top producing silver and indium mines • Funded into Feasibility

Escalones, copper-silver-gold project, Chile (100%) • Large scale target in world-class mining district near El Teniente • Exploration program and geophysics underway • Resource definition program in 2011 • Potential significant copper, silver, gold deposit

Silver

(Moz)

Indium

(tonnes)

Gallium

(tonnes)

AgEq

(Moz)

M&I 230 1,481 1,082 354

Inferred 140 935 1,001 240

*AgEq=total contained metal

Share Capitalization2

5

TSX:SAC, US OTC:SOHAF

Issued &

Outstanding Fully Diluted2 Warrants Options

100.3M 117.9M 6.8M 10.6M

• ~$200 million Market Capitalization (1)

• Average 3 mo. trading volume +500,000 shares/day

• Well financed with +$30 million in cash(2)

• Potential US listing to increase visibility and liquidity

Major Shareholders

•Zamin—19%

•Private investors--18%

•Management3 --15%

Institutional Ownership

•Sprott Asset Management

•Front Street

•K2 funds

•Kudu Partners

(1) As of July 18, 2011, (2) As of June 30, 2011

(3) Fully diluted basis

Adding Value Through Resource Growth

6

0

1000

2000

3000

4000

5000

6000

7000

8000

0

50

100

150

200

250

300

350

400

To

nn

es

of

Ind

ium

an

d G

all

ium

(C

om

bin

ed

)

Milli

on

Ou

nc

es

of

Sil

ve

r

Ag Inferred Resource

Ag M&I Resource

In & Ga Inferred Resource

In & Ga M&I Resource

IPO

0

50

100

150

200

250

300

350

400

450

500

Alexco Silvercrest US Gold Golden Minerals

Sulliden MAG Silver Orko ECU Sabina Tahoe Resources

So.American Silver

Bear Creek

Comparative Silver Resources in the Americas

7

Source: Canaccord Report resource numbers as of January 11, 2011

Note: All companies have projects in South and/or North America

Second largest development stage silver resource

Millio

ns o

f S

ilver

Ou

nces

Yukon

(Canada)

Mexico

El Salvador

Mexico Mexico

Peru

Peru Mexico Mexico Mexico Nunavut

(Canada)

Guatemala Bolivia

Chile

Peru

Additional value

of Indium and Gallium Inferred Resources

M&I Resources

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

Enterprise Value per Silver Resource Oz

8

By project development stage

Source: Canaccord & Intierra as of June 9, 2011,

Note: All companies have projects in South and/or North America

Development Stage

Average ~$4/oz

Advanced Development

Stage Average ~$7/oz

EV of >$0.80 base on 230.3 million M&I oz Ag

Producer

Average

>$24/oz

Development Stage Value Curve

9

Potential value growth with project advancement

Increased value

through resource

expansion

Early Stage

Exploration &

Development

Advanced

Development

Stage (Reserves)

Production

Average Enterprise Value per Oz of Silver by Stage

Resource

Definition PEA

PFS

FS Permits

Construct

Discovery

$4/oz

$7/oz

$24/oz

Source: Recent average enterprise value per ounce of silver at

various development stages for North and South American based

projects. Canaccord, Wellington West and Company reports.

Incre

asin

g M

ark

et

Valu

e

Take-Over offers or

Partnerships

common at this

stage

Production

Increasing value with project advancement

US Silver

Alexco

Aurcana

Bear Creek

Esperanza

Golden Minerals

Silvermex

Sulliden

Troy

MAG

Coeur d'Alene

Endeavour

First Majestic

Great Panther

Hecla Hochschild

Pan American Silver

Silver Standard

Arian

Castle

Extorre

Golden Predator

Silver Bull

Silver Quest

South American Silver

Tahoe

10

100

1000

$50 $500 $5,000

Tota

l R

esourc

e S

ize

(M

oz's

)

Enterprise Value (US$ Millions)

Current Silver Company Market Valuations by Resource Size & Development Stage

10

Size of circle represents market valuation premium in EV/oz

500

$2,000

SAC SAC SAC

Total Resource Ag Equivalent using (Ag +Au only at $25/oz and $1000/oz values)

Source: Canaccord Report July, 2011 and Intierra, July, 2011

Share prices as of Sept 7 2011,

Note: All companies have projects in South and/or North America

Developers Adv. Developers Producers

$1,000

US Gold

Positive Silver Fundamentals

11

A paradigm shift for silver?

• Major shift in supply/demand dynamic over past several years

• Silver still well below inflation adjusted highs of $140/oz ($50 in 1980)

• Silver is a ―hybrid‖ precious and industrial metal due to its scarcity and unique properties including superior electrical and thermal conductivity, malleability, reflectance, and catalytic/biologic reactivity

• Price increases driven by 40% increase in investment demand and 21% increase in industrial demand for a total increase of 17% in 2010

• Total annual mine production growth only 2.5% last year with reduced contribution of by-product silver from copper and gold production

• Projected new mine supply anticipated to be consumed by new industrial demand through at least 2015

• Chinese imports up 4x since 2009 with change from net sellers of more than 100 M oz of silver in 2005 to net buyers of more than 120 M oz in 2010

• Few major new deposit discoveries and growing time lag from time of discovery to metal production

Source: 1) GFMS World Silver Survey 2011

2) BMO Capital Markets Global Mining Research April 2011

0

200

400

600

800

1000

1200

Mil

lio

n O

un

ces

World Silver Demand

Industrial Applications

Photography

Jewelry and Silverware

Investment and Coins

Silver Supply/Demand Fundamentals

12

• Dramatically increased demand growth driven by strong investment demand plus

increased industrial consumption(1)

• Demand growth expected to continue to outstrip production growth(2)

Source: 1) GFMS World Silver Survey 2011

2) BMO Capital Markets Global Mining Research April 2011

+17% total

demand

growth

+40%

investment

demand

+21%

industrial

demand

+2.5%

mine

production

+8% total

supply

growth

0

200

400

600

800

1000

1200

Mil

lio

n O

un

ce

s

World Silver Supply

Mine production

Secondary Supply and Scrap

Government Sales

Growing World Investment Demand For Silver

13 Source: GFMS World Silver Survey 2011

0

50

100

150

200

250

300

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Mil

lio

ns

of

Ou

nc

es

World Silver Investment Demand

Investment Coins & Medals

Growing Demand for Silver in Technology

14

Breakdown of key technology/industrial uses for silver

Source: CPM Silver Yearbook 2010

Not for reproduction without written CPM Group consent

Mill

ion

s o

f Si

lver

Oz

0

100

200

300

400

500

77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09 11p

Photovoltaic

Catalysts, alloys, solders and biocides

Electronics

Thin Film/Thick Film Demand Growth

15

Growing demand in solar technology

Growth assumptions based on data from Displaybank in LCD TV Association ―LCD

TV Matters‖-Volume 3, Issue 2, February 2010 , Strategies Unlimited, August 2009 ,

Solarbuzz, Photon International, GFMS , Nanomarkets, and the US Department of

Energy Critical Minerals Strategy Report

0

10

20

30

40

50

0

5

10

15

20

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Sil

ve

r fa

bri

ca

tio

n (

mil

lio

n o

un

ce

s)

Ph

oto

vo

lta

ic c

ell

pro

du

cti

on

(G

iga

wa

tts

)

Thin film cell production

Thick film cell production

PV related silver consumption

Silver Primary & By-Product Production(1)

16

• 70% of silver is by-product production from base metals and gold

• By-product silver production is largely silver price inelastic

• Reduced by-product silver production anticipated going forward from base metals(2)

Source: 1) GFMS World Silver Survey 2005-2011

2) BMO Capital Markets Global Mining Research April 2011

0

5

10

15

20

25

0

50

100

150

200

250

300

2003 2004 2005 2006 2007 2008 2009 2010

Sil

ve

r P

ric

e (

US

$)

Mil

lio

ns

of

Ou

nc

es

of

Sil

ve

r

Lead/Zinc

Primary

Copper

Gold

Silver Price

Indium & Gallium – Two Key Strategic Metals

17

Rapidly growing market for high-tech uses

Uses

• Indium-tin oxide (ITO) a key component of flat panel displays (FPDs) and touch screens

• High-efficiency CIGS (copper, indium, gallium, selenide) photo-voltaic thin-film solar panels, and LED lighting

• Fiber optics, specialized and transparent semiconductors

Supply

• Global indium use growing rapidly and could surpass available supply from by-product zinc refining at current price range

• One of the most scarce strategic metals due to low recycling and few primary producers

TSX:SAC

US OTC:SOHAF

Indium & Gallium Fundamentals

18

Compelling supply/demand dynamics

Indium and Gallium Supply/Demand dynamics

• Indium and gallium highlighted in UN and US DOE studies as a critical technology metals in potential shortage, along with several key rare earth metals, due to rapidly increasing growth, low recycling rates and low primary production

• China is largest producer and consumer of indium and has imposed export quotas and tariffs like other key high-technology specialty metals

• Indium market estimated to see 15-20% annual growth with most indium produced as by product of zinc refining growing at 1-3% annually

• Current indium and gallium price ~$900-1000/kg up from global economic lows during 2008-2009 of $400-500/kg

• Gallium market estimated to be a conservative 15% annual growth rate which could increase significantly with more rapid growth in LED lighting and photovoltaics

Malku Khota annual indium and gallium production

• Malku Khota projected to be one of the world‘s largest indium & gallium producers (80 tonnes and 15 tonnes per year)

• Potential to represent 10% or more of global mine supply of indium and over 5% of global supply for gallium

• Opportunities for project financing from off-take agreements for indium & gallium

Sources: (1) US Dept. of Energy Critical Materials Strategy, Dec.

2010. (2)United Nations Environment Programme (UNEP) Special

Report on Strategic Metals ,May 2011 .

Criticality Index for Clean Energy/Technology Development

19

Showing Forecast Supply Shortages of Most Important Metals

Sources: (1) US Dept. of Energy Critical Materials Strategy,

Dec. 2010.

Dy

Ga Ce La

Te In

Eu

Nd Tb

Y

Li Co Pr

Sm

Nd Dy

Ga In

Li Te Eu Y Tb

Ce Co

La Pr

Sm

Short Term (0-5 Years) Long Term (5-15 Years)

4

3

2

1

4

3

2

1

1 2 3 4

Import

ance

to c

lean e

nerg

y

Import

ance

to c

lean e

nerg

y

1 2 3 4

low

low

hig

h

hig

h

Supply Risk Supply Risk low low high high

Important Near Critical Critical

20

Indium Supply Mine Production and Refining

Source: 1)Roskill ‗s Indium:Global Industry Markets and

Outlook ,2010

BLEU: Belgium, Luxembourg Economic Union

China, 45%

Peru, 9% Canada, 9%

Australia, 6%

USA, 4%

Mexico, 3%

Other Countries,

23%

Indium Mine Production

China

Peru

Canada

Australia

USA

Mexico

Other Countries

China, 52%

S.Korea, 13%

Canada, 8%

Japan, 8%

BLEU, 6%

Germany, 3%

Russia, 3%

Peru, 1% Others, 6%

Indium Refining

China

S.Korea

Canada

Japan

BLEU

Germany

Russia

Peru

Others

Indium Demand Growth

21

Growing demand in high-tech markets

Growth assumptions based on data from Displaybank in LCD TV Association ―LCD

TV Matters‖-Volume 3, Issue 2, February 2010 , Strategies Unlimited, August 2009 ,

Solarbuzz, Photon International, GFMS , Nanomarkets, and the US Department of

Energy Critical Minerals Strategy Report December 2010

End

-use

Mar

ket

Dem

and

(to

nn

es)

2010 total

indium

production

level

5 year

projected

demand

growth

0

500

1000

1500

2000

2500

2010 2011E 2012E 2013E 2014E 2015E 2016E

Solar Energy

LED Lighting

LCD Flat Panels

0

200

400

600

800

1000

1200

1400

1600

1800

2000

0

500

1000

1500

2000

2500

Demand

Price

Indium Fundamentals World indium demand vs price (1969-2011*)

Source: (1) Indium: Global Industry Markets and Outlook, 9th Edition 2010 (Roskill)

*2011-2013 Data are estimates (2) 2011-2015 Estimates US Dept. Of Energy

Critical Materials Strategy Dec. 2010. 16

Ind

ium

De

man

d

Ind

ium

Price

/kg ($U

S)

X Current Indium Price

Silver Mines in Bolivia

23

One of the world’s premier silver mining districts

• Historical district production of billions of ounces of silver

• Highly prospective & under-explored

• Increase from 9th largest global silver producer to 5th largest with completion of three major silver mines in past four years:

Pan American Silver – San Vicente

Coeur D‘Alene - San Bartolome

Sumitomo - San Cristobal

TSX:SAC

US OTC:SOHAF

Opportunity in Bolivia

24

An emerging resource based economy

• Bolivian government encouraging private investment

• Member of Mercosur Regional trade organization with Brazil as largest trading partner

• Government bond ratings upgraded by Moody‘s & Fitch

• Mining second largest economic sector

• One of the world‘s premier silver districts with billions of ounces of silver production

• Planned $32 billion 5-7 year infrastructure build-out by Bolivian government for new rail and

road corridors and hydropower generation

• Three Major silver mines built within last four years by Pan American Silver, Coeur D‘Alene,

and Sumitomo

• Substantial resource industry investments in Bolivia

Jindal Steel of India investing US$2.1 billion in giant El Mutun iron ore deposit

Petrobras of Brazil—Latin America‘s largest publicly traded oil company – investing

US$1 billion of new capital into the Bolivian gas fields

Repsol of Spain investing $1.6 billion to increase gas production in Bolivia

Petrobras and Repsol have announced new exploration initiatives in Bolivia in early 2011

Recently announced investments by Chinese and South Korean companies to develop

lithium resources

TSX:SAC

US OTC:SOHAF

Malku Khota Project

25

• 50 square km, 100% owned, road accessible project

• Low capital and operating costs on a per ounce basis

• Potential to be one of the top primary silver and indium producing mines at 13.2 M oz

silver per year and 80 tonnes of indium1

• Project base case annual Cash flows and NPV‘s more than doubled

• 60% expansion of Measured and Indicated Resources2

• Pit model 80% M&I resources for conversion to reserves with PFS

• Excellent resource expansion potential with just 4 km tested of trend

• Moving into Pre-Feasibility in 2011 and Feasibility in 2012

One of the world’s largest silver-indium resources

1) Average for the first 5 years of production

2) See March 31, 2011 News Release for detailed resource estimate

3) Total contained metal

Silver

(Moz)

Indium

(tonnes)

Gallium

(tonnes)

Copper

(MLbs)

Lead

(MLbs)

Zinc

(MLbs)

AgEq3

(Moz)

M&I 230 1,481 1,082 120 453 247 354

Inferred 140 935 1,001 102 362 246 240

Malku Khota Project – 2011 Resource Estimate Update

Established Infrastructure

26

Low projected capital and operating costs

• Open pit, bulk mineable

• Accessible by road

• Commercial power within 15km

• Access to water

TSX:SAC

US OTC:SOHAF

Mineralization

27

Enrichment starts at surface Host rock sandstone with disseminated

silver, indium, gallium, lead, zinc and copper

Open pit, bulk mineable silver-indium deposit

Average grade first five years:

• Silver: 42.2 g/t (58 g/t Ag Eq) 1

• Indium: 7.55 g/t

•Economic cut-off grade <15 g/t (at $18/oz Ag) 2

(1) AgEq comprised of all contained metals

(2) Economic cut-off grade comprised only of silver and

indium

Malku Khota Drilling

28

Grade thickness map

• 115 drill holes in current resource with updated resource Q1-2011

• Updated resource results increase total M&I oz to 230 Moz Ag (a 60% increase in M&I oz) plus an additional 140 M inferred Ag oz

• 2011 program to target conversion from

resources to reserves & expansion drilling • Mineralization begins at surface

• Deposit open along trend and down dip

with excellent potential for expansion

• New discovery of higher grade zones and down dip expansion of surface mineralization

TSX:SAC

US OTC:SOHAF

Mineralized Sandstones

OPEN

OPEN

OPEN

Malku Khota Mineralization

29

• Broad zones of continuous sediment hosted mineralization

• Open at depth and along trend

LMD048: 286 meters grading 76 g/t AgEq Grade thickness values of over 21,500 g-m AgEq

TSX:SAC

US OTC:SOHAF

OPEN

OPEN

Production Processes

30

From ore to metal

• Large scale shovel and truck open pit mining

operation

• Ore crushed in preparation for leaching

• Acid-chloride leaching in captures silver, indium,

copper, lead, zinc, gallium and gold

• Metal recovery in several steps:

• Acid recovery

• Silver-gold-copper cementation

• Indium-gallium precipitation

• Lead and zinc sulfides

• Downstream processing to metal products

TSX:SAC

US OTC:SOHAF

Crushing

Leaching

Metal Recovery

& Processing

Open Pit Mining

Silver, Gold,

Copper

Indium &

Gallium ingots

Lead & Zinc

concentrates

2011 Economic Assessment

31

(1) In US dollars, March 2011, PEA

(2) First 5 years of production (average)

(3) LOM = Life of Mine

Metal Prices ($US)

Base Case

Silver : $18/oz

Indium : $500/kg

Gallium: $500/kg

$25/oz

$570/kg

$570/kg

Mining Rate

Life of Mine

Ore Mined (LOM)3

Average Silver Grade 2

Average Indium Grade2

Ag Eq grade

158 M

1,184

191M

135 M

88 M

212,962

10.5 M

78.9 M

12.7 M

9 M

5.87 M

14,198

Mid Case

Base Case $185M/yr

$1,261M

$704M

37.7%

27 months

$287M/yr

$2,528M

$1482M

63%

19 months

Mid Case

Total LOM

Annual

40,000 tpd

15 years

200M tonnes

42.2 g/t

7.55 g/t

58 g/t

First

5 years

Recent $430M/yr

$4,298M

$2571M

92.9%

15 months

Recent

$35/oz

$650/kg

$730/kg

13.2 M

80.7

12.48M

4.42M

5.64M

15,184

71%

15%

6% 5% 3%

Share of Gross Revenue (at base case prices)

Silver

Indium & Gallium

Copper

Lead

Zinc

First 5 years cash flow

Net cash flow

NPV (5% discount rate)1

Internal Rate of Return

Payback period (years)

Recovered Metals

Silver (oz)

Indium (tonnes)

Lead (lbs)

Zinc (lbs)

Copper (lbs)

Gallium (kgs)

Silver Producer Price to Cash Flow Multiples (P/CF @ $30/oz)

32

6.5

8.4

10.5 11.1

12.3

15.6 16.2

17

19.3

23.2 23.4 23.5

0

5

10

15

20

25

20

11

E P

/CF

Source: BMO Capital Markets Global Mining Research Report,

April 3, 2011 (share prices as of March 31 2011)

Malku Khota PEA Projected Cash Flows

$18/oz $25/oz $35/oz

$185M $287M $430M

Primary Silver Project Annual Production Rates

33 Source: CPM Silver Yearbook 2011

*Based on mine production of 13.2 Moz /year for first five years

Malku Khota one of largest emerging producers at over 13 Moz/yr

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

Actu

al/

An

ticip

ate

d A

nn

ual

Ag

Pro

du

cti

on

(M

oz)

Producers

Developers

Malku Khota

BH

P B

illiton

Fre

snill

o

Barr

ick G

old

Corp

.

Sum

itom

o C

orp

.

Pan A

merican S

ilver

Industr

ias P

enole

s

Gold

corp

Inc.

So

uth

Am

eri

ca

n S

ilv

er

Co

rp.

Sabin

a G

old

& S

ilver

Poly

meta

l M

NP

O

Hochschild

Bear

Cre

ek M

inin

g

Etibank

Yam

ana G

old

Cia

De M

inas B

uenavert

ura

Hochschild

Hecla

Silv

er

Sta

ndard

Resourc

es

Silv

er

Sta

ndard

Resourc

es

Pan A

merican S

ilver

Coeur

d'A

lene

Global Silver Industry Cash Cost Curve

34

Anticipated low-cost silver production

Cumulative Percentile of Silver Mine Production Cost

To

tal C

ash

Co

st P

er O

un

ce o

f Silv

er

Industry Average

Cash Cost

$5.27/oz

Malku Khota

13.2 Mozs/yr (1)

~ $2.94/oz (2)

Source: GFMS World Silver Survey 2011

(1) Average first 5 years of production

(2) Silver cash costs after credits ($US)/oz

Lowest 25%

Percentile Cash

Costs

Escalones Copper-Silver-Gold project, Chile

35

High potential, large-scale target

• 70 square km, road accessible, large scale system in well established mining district

• Located near one of the worlds

largest underground copper mines at El Teniente

• Historic drilling shows >1%

copper grades at surface and untested porphyry system grading 0.6% copper

• Additional significant gold,

silver and molybdenum credits • Exploration program underway • Resource estimate targeted for

2nd half of 2011

TSX:SAC

US OTC:SOHAF 30

Escalones Project Logistics

36

Ownership: 100% through lease

Location: 35km E of El Teniente

Elevation: 3800m

• 70 square kilometer property

• Road accessible located 100 km

southeast of Santiago

• Gas pipeline across property

• 30 Drill holes completed to date

Excellent existing infrastructure

SAC property Gas pipeline Access Road

31 TSX:SAC

US OTC:SOHAF

Drill Results Grade Thickness Map

37

Large-scale copper-silver-gold system

• Open to expansion down dip

and laterally

• Strong historic drill results

• Limited testing of porphyry

system with most holes in

replacement /skarn style

mineralization

TSX:SAC

US OTC:SOHAF 32

Escalones

38

Geological cross-section

• Enriched zones with high grades of replacement style mineralization starting at surface

at over >1% copper with significant silver, and gold

• Large scale porphyry target with intercept of 176 m @ 0.6% copper with additional

credits from silver, gold, and molybdenum

TSX:SAC

US OTC:SOHAF

Alto Bajo

Community Relations

39

A key to successful project development

• Recent key additions to community relations team:

• Jim Mallory, VP Operations and Social Responsibility – 35 years industry experience

previously with Silver Standard, NovaGold, & Barrick (Placer Dome)

• Miguel Reynaga, Director of Community Relations - 16 years experience with

Newmont at their Inti-Raymi (Kori Kollo) Mine in Bolivia

• Objectives to facilitate economic development in communities as part of project

exploration, development and construction activities

• Project construction will see workforce of over 1,000 with mine workforce of over 400 or

more

*Business for Social Responsibility, San Francisco, CA

Project Milestones

40

Value drivers over the next 6-12 months

• Malku Khota, silver-indium-gallium project, Bolivia Updated resource estimate & PEA more than doubles annual production to

13.2 M oz of silver, 80.7 tonnes of indium and 15 tonnes of gallium per year* Updated resource results show 60% increase in M&I ounces to 230 M oz of

silver with an additional 140M oz inferred, and indium to 1,481 tonnes M&I and 935 tonnes inferred

Cash flows, project valuations and rates of return significantly expanded over previous studies

Pre-Feasibility work has started for the second half of 2011 Feasibility work to begin in 2012

• Escalones, copper-silver-gold porphyry project, Chile Exploration and Geophysics program underway Target for initial resource estimate in 2nd half of 2011 Potential for significant deposit of copper, gold and silver

*Average first five years of production

0

5

10

15

20

25

30

35

40

45

Leveraged to Silver

41

Value of silver per dollar invested

SAC has some of the best leverage to silver of any development

stage company with nearly $45 of silver value per $1 invested

Source: Canaccord as of January 17, 2011, Share prices updated May 24, 2011

Note: all companies have projects in South and/or North America

Calculated using $25/oz Ag. Dollar value of silver per $1 invested = (silver

resource/shares outstanding) x $25/oz silver) divided by share price

Value only shown for silver with no contribution from other metals

Silver value per $1 invested

Average value of silver <$8 of silver per $1 invested*

Additional value of Indium and Gallium

Why South American Silver?

42

Investment highlights

• World-class scale projects with excellent expansion potential

• Track record of discovery and successful project development

• Growing shareholder value through resource expansion and advancing projects up

the development value curve toward feasibility

• Leveraged to silver with nearly 4 oz of silver per share (6 ozs Ag equivalent)

• Attractive investment value relative to peers at low value per oz

• Exposure to rapidly growing indium and gallium high-technology market

• Potential value from new copper-silver-gold resource definition and expansion at Escalones

• Continued investor outreach to broaden market awareness of Company

• Potential for NYSE-AMEX listing in the U.S.

TSX:SAC

US OTC:SOHAF 37

43

TSX: SAC

OTC: SOHAF

Phone: 604.681.6926

1.855.681.6926

www.soamsilver.com

Greg Johnson President & CEO

TSX:SAC

US OTC:SOHAF

Relative Stock Performance

44

SAC outperforming key silver & gold indices

•Trading liquidity increasing with average volume of 500,000 shares/day

•SAC undervalued relative to peers at >$0.80 Enterprise Value/oz vs average of more than $4/oz for early stage resources

TSX:SAC

US OTC:SOHAF

45

Zamin Group - Strategic Investment A key regional player

• Well funded regional player in South American resources industry with major projects in Brazil, Uruguay, Bolivia, and Chile

• Strategic 19% investment positions SAC in strong financial and operational position to advance projects to feasibility

• Track record of successfully facilitating South American project development through relationships with national and state governments in the region

• Portfolio of South American projects with strong government support in permitting, rail and port infrastructure

• Bamin Project-Brazil

• Valintine Project-Uruguay

• Acquiring assets in Bolivia over past year

TSX:SAC

US OTC:SOHAF

Management & Directors

46

Greg Johnson (President/CEO & Director) has over 25 years mining

industry experience in corporate finance, project development and

exploration. A s a co-founder of NovaGold, he played a key role in

growing that company from $50 million in value to over $2 billion market

capitalization advancing 3 major projects through to Feasibility.

William Filtness (Chief Financial Officer) is a Chartered Accountant with

over 20 years of financial experience in the mining industry.

Phillip Brodie-Hall (Vice President of Project Development) has over 35

years experience in engineering construction and project development. He

has participated in nearly every aspect of evaluation, feasibility studies and

project development in the mining industry.

James Mallory (Vice President of Operations & Social Responsibility)

has over 30 years of mining industry experience in large-scale mine

management, operations and construction for companies including Barrick

(Placer Dome), Silver Standard, and NovaGold.

Felipe Malbran (Vice President of Exploration) has over 25 years

experience in exploration management in South America including key

roles in the discovery of Malku Khota, Vizcachitas, and Escalones.

David Dreisinger (Vice President of Metallurgy) is Professor and Industrial

Research Chair in Hydrometallurgy at the University of British Columbia.

He is actively involved in developing and commercializing

hydrometallurgical process at a number of mines worldwide.

Andrew Clark (Manager of Project Implementation) has over 30 years

global industry experience in the development, design, management and

construction of industrial mining projects.

Richard Doran, (Vice President & Corporate Secretary) has extensive

industry experience including with General Minerals and as Marketing

Manager for Chevron Minerals.

Xavier Gonzales Yutronic (General Manager Compañía Minera Malku

Khota S.A.) has experience in management, finance, and community

relations in the mining industry including with Glencore, and Comsur S.A.

TSX:SAC

US OTC:SOHAF

Ralph Fitch (Executive Chairman) is an explorationist with over 40

years of global experience, a co-founder of South American Silver and

former Chief Geologist for Chevron Minerals credited with several

major discoveries in South America.

Antonio Canton (Director) is consultant and director to a number of

international companies in marketing, finance and real estate.

Tony Cau (Director) is COO at Zamin Ferrous. With over 30 years of

experience in the mining, construction and heavy manufacturing

industries, he has been involved in mine development and expansion

projects around the world for groups like BHP, SNC-Lavalin, and

Bateman Engineering.

Jeffrey Couch (Director) is the Head of Business Development at

ENRC and has held various financial advisory positions including for

private equity groups such as Campbell Lutyens, was Director of

Metals & Mining Investment Banking for Credit Suisse, and a key

member of the capital markets team for Citigroup European

Investment Bank.

Paul Haber (Director) is a Chartered Accountant and a Certified Public

Accountant, and previously CFO of a TSX-V company and Chairman

of the Audit Committee for South American Silver.

Peter Harris (Director) is a mining engineer with over 40 years of

industry experience including construction and operation of over 20

mines around the world with groups such as Barrick (Placer Dome)

and NovaGold.

William Murray (Director) is an engineer in the mining industry with

over 35 years of experience in construction management and project

evaluation with groups including Fluor Daniel, Denison Mines,

Optimum Project Services and Anglo American Corp.

John Watson (Director) is President of a TSX -V listed company and

Manager of a limited liability corporation in commercial real-estate.

Tina Woodside (Director) is the head of Gowlings’ corporate finance

department and practices corporate and securities law focused on

corporate finance, M&A and corporate governance matters.