Impact Silver Corporate Presentation

EXPLORE. PRODUCE. PROFITS! JANUARY 2012 IPT TSX-V

DISCLAIMERExcept for historical information, this presentation may contain certain “forward-looking” statements and informationrelating to IMPACT that are based on the beliefs of IMPACT management, as well as assumptions made by andinformation currently available to IMPACT management. Such statements reflect the current risks, uncertainties andassumptions related to certain factors including but not limited to, without limitations, exploration and developmentrisks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economicfactors, competitive factors, general economic conditions, relationships with vendors and strategic partners,governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events.Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions proveincorrect, actual results and forward-looking statements may vary materially from those described herein. IMPACTdoes not assume the obligation to update any forward-looking statement.The factors that could cause actual results to differ materially include, but are not limited to, the following: generaleconomic conditions; changes in financial markets; the impact of exchange rates; political conditions anddevelopments in countries in which the Company operates; changes in the supply, demand and pricing of the metalcommodities which the Company mines or hopes to find and successfully mine; changes in regulatory requirementsimpacting the Company’s operations; the ability to properly and efficiently staff the Company’s operations; thesufficiency of current working capital and the estimated cost and availability of funding for the continued explorationand development of the Company’s exploration properties.This list is not exhaustive and these and other factors should be considered carefully, and readers should not placeundue reliance on the Company’s forward-looking statements. As a result of the foregoing and other factors, noassurance can be given as to any such future results, levels of activity or achievements and neither the Company norany other person assumes responsibility for the accuracy and completeness of these forward-looking statements.George Gorzynski, P.Eng., a Qualified Person under the meaning of Canadian National Instrument43-101, is responsible for the technical information in this presentation. 2

INVESTMENT HIGHLIGHTS EXPLORE. PRODUCE. PROFITS!• Three producing silver mines• Consistently profitable operations with 5+ years of production & profitability• Strong asset base with two adjacent 100% owned districts in Mexico• Focus on accelerating exploration & rapid mine development of high potentialnear-term opportunities• Capire Open-Pit Project scheduled for near term production• Well-funded with a $33M cash position• 90% of revenues is silver• Zero debt

PROJECT LOCATIONMEXICO• IMPACT’s 100% owned adjacent districts are located in the southern portion of the Mexican Silver Belt • 423 km² Royal Mines of Zacualpan District • 200 km² Mamatla Silver District 4

STRONG CORE ASSET BASE • 100% owned 623 km² land package • District production began 1527 • 1975 – 2011: Over 35 million silver equivalent ounces produced • 2,500+ old mine workings in GIS database 5

ZACUALPAN OPERATIONS Excellent • Modern power grid • No environmental or security issues • Paved highway access • Trained work force Mining • Abundant water supply • 3 hour drive from Mexico City Environment • Three mines feed a central 500 tpd processing plant: currently at 430 tpd Existing • Currently installing a 200 tpd mill for initial production at new Capire open-pit mine Facilities • Acquired operations in 2006 & have been consistently profitable Proven Track • Silver production increased by 250% from 2007-2011 Record • Organic growth with low production cost (avg. $70 per tonne) • Revenue per tonne sold increased 37% vs. increase in production cost of 15% (fiscal years 2008-2010) 9 Months Ended Sept 30th 2011 Dec 31st 2010 Dec 31st 2009 Dec 31st 2008Silver Production (oz) 663,853 750,259* 823,571 645,668Lead (t) 589 734 969 813Zinc (t) 1,000 1,212 1,098 1,053Revenue per production tonne sold $207.70 $123.25 $109.51 $89.89Direct cost per tonne produced $75.52 $63.29 $60.39 $54.80 *Silver production was marginally down 9% because the Company reduced the cut-off grade of the ore mined due to higher Silver prices in 2011 6

MINES IN PRODUCTION CHIVO MINE • Principle producer SAN RAMON MINE • High grade epithermal silver vein from large stockwork zone NOCHE BUENA MINE • Newest addition to production profile OSCAR PROJECT • Currently studying mine production feasibility 7

MINES IN PRODUCTIONCHIVO MINE Hauling ore from Chivo Mine• Discovered in late 2005, rapidly developed & commenced production in November 2007• Medium grade epithermal Silver vein with by-product Lead & ZincSAN RAMON MINE• High grade epithermal Silver vein with historic grades of 5,000 g/t silver in upper levels• Production expanded based on discovery of 20m wide stockwork zone on Level 5 San Ramon Mine PortalNOCHE BUENA MINE• Discovered in 2008 & initial production achieved in March 2010• Expanding production with numerous high potential opportunities Noche Buena Mine PortalGUADALUPE PROCESSING PLANT• 500 tpd processing plant fed by the Chivo, San Ramon & Noche Buena mines• Annual production levels of >1 million oz. silver eq.• All current mines discovered by IMPACT exploration team• Future expansion through exploration and development 8

GUADALUPE PROCESSING PLANT• 500 tpd plant located in the Royal Mines of Zacualpan• Ongoing upgrades to increase throughput and improve recoveries 9

LONG TERM PRODUCTION STRATEGYTo become a Multimillion Ounce Silver Producer with Multiple Production Centres 1. GUADALUPE MINING & PROCESSING CENTRE • Current main production area, possible expansion • Exploration on potential new mine targets 2. CAPIRE MINING & PROCESSING CENTRE (under construction) 1 • Pilot production scheduled for late 2012 • Potential 800- to 1,500-tpd processing plant • Development plan for full operating mine to target expanded production (pending drilling program results) 3 3. NOCHE BUENA MINING & (future) PROCESSING CENTRE • First mine began production in April 2010 2 4 • Ore presently sent to Guadalupe plant • Exploring gold and silver potential 4. SOUTHEAST ZONE • Early stage exploration • Many historic mine workings 10

NEXT MINE TO COME ONLINECAPIRE VMS PROJECT • Capire Project represents new mine operations in a new district; scheduled for production late 2012 • Capire VMS Project in the Mamatla District will be IMPACT’s fourth producing mine & first open-pit mine • Initial annual production target from new 200 tpd mill is 300,000 oz silver • Capire development plan includes expansion of 800 to 1,500 tpd 11

CAPIRE VMS PROJECT • NI 43-101 Mineral Resource Estimate on open pit Capire Project being expanded by additional drilling • All mining permits and surface rights for the new plant have been secured • Several other VMS targets in close proximity to be drilled in 2012 • Additional silver vein drill targets to the north 12

NI 43-101 RESOURCE ESTIMATECAPIRE VMS PROJECT Metal Content for Capire + Aurora 1 Ag (oz) Au (oz) Cu (lbs) Pb (lbs) Zn (lbs) Measured 3,529,969 14,146 3,389,275 18,234,678 46,140,820 Indicated 3,694,066 16,300 3,693,733 19,029,800 49,522,173 Measured & 7,224,035 30,446 7,083,007 37,264,478 95,662,993 Indicated Inferred 435,959 1,919 475,594 2,260,089 5,823,490 Summary Table Classified Mineral Resources – Measured + Indicated and Separate Inferred Domain Classification Tonnes Ag (g/t) Au (g/t) Cu (%) Pb (%) Zn (%) Capire Measured + Indicated 3,104,944 46.46 0.19 0.06 0.33 0.93 Aurora 1 Measured + Indicated 1,807,302 44.50 0.199 0.07 0.36 0.80 Grand Total Measured + Indicated 4,912,246 45.74 0.193 0.06 0.34 0.88 Grand Total Total Inferred 371,066 36.54 0.161 0.06 0.28 0.71• Expansive drilling program planned for 2012• Mine construction currently underway 13

CAPIRE OPEN PIT MINE DESIGN3D SURFACE MODEL Area of defined NI43-101 Resources Open for expansion Open for expansion 3D model of planned Capire open pit Open for expansion Areas of Phase 2 drill program Processing Plant Site Tailings Facility OPEN PIT DEVELOPMENT PLAN• 2012: Initial annual silver production estimated at 300,000 ounces• 2013: In-house feasibility study for expanded plant sizing• 2014: Plans to construct an 800 to 1500 tpd processing plant

EXPLORATION OPPORTUNITIESOSCAR VEIN CORRIDOR, ZACUALPANOSCAR - SANTA LUCIA ZONES DRILLING HIGHLIGHTS• Corridor of many wide & high grade OSCAR CORRIDOR silver veins linking the past producing True Cuchara Mine & the Santa Lucia Drill Width Ag Au Pb Zinc Hole (g/t) (g/t) (%) (%) Zone (m) Z11-44 0.30 6,730 0.20 1.5 8.0 OSCAR CORRIDOR Including 30.65 291 0.01 0.4 0.4• Series of high grade silver veins near Z11-46 1.05 4,580 0.26 1.7 4.0 Guadalupe Processing Plant SANTA LUCIA ZONE• Currently studying mine production feasibility Z09-47 3.18 466.6 0.01 0.15 0.70 Z09-53 2.39 419.3 0.03 0.28 0.32 SANTA LUCIA ZONE Z10-03 1.1 588.0 0.05 0.37 2.00• Drill highlights of 466 g/t silver across Including 1.7 394.2 0.07 1.05 1.57 3.18 meters• Currently studying for future underground mine development

EXPLORATION OPPORTUNTIESEMERGING GOLD DISTRICTGOLD RICH VEINS IN ZACUALPAN DRILLING HIGHLIGHTS• Veins indicate significant gold and HUATECOSCO GOLD PROJECT copper zones in the Zacualpan District Z11-20 9.48 3.97 48.7 N/A 2.62 HUATECOSCO GOLD PROJECT Including 4.24 6.96 84.3 N/A 5.11• A large gold-silver vein system, Z11-17 4.74 3.44 117.6 N/A 0.81 southwest of Guadalupe Processing Plant CARLOS PACHECO ZONE• Potential new gold district Drill True Au Ag Cu Zinc Width• Recent drill highlights of 6.96 g/t gold Hole (m) (g/t) (g/t) (%) (%) across 4.24 meters Z08-68 2.9 19.6 68 0.29 0.11 Including 1.0 49.7 59 0.31 0.14 CARLOS PACHECO ZONE• Significant gold-copper drill results Z08-65 2.1 11.3 18 -- -- include 19.6 g/t gold across 2.9 meters Including 1.2 18.8 24 -- --• Early exploration stage 16

MINE DEVELOPMENT PROCESS• $7M exploration program for 2012 includes 35,000 meters of drilling• Targets are generated by mapping and sampling of old workings 5 STAGE DEVELOPMENT PROCESS Identify and Surface and Phase 1 & 2 Mine Map Old Underground Drilling Planning, Mines and Sampling, Permitting Production Workings Detailed and Mapping Construction Narrowed •Golondrinas •Capire •Chivo More than down to 2,500 •Huatecosco •San Ramon 500+ •Santa Lucia Mapped Prospects •Pilarica •Noche for follow •Oscar Buena •Cruz Blanca up First Drill Hole to Production: 12 – 24 Months (Chivo, San Ramon Extensions, Noche Buena) 17

OPTION AGREEMENT SIGNEDDEFIANCE SILVER CORP (TSX-V:DEF)Production Exploration• IMPACT optioned a 200 tpd processing • Nueva Granada Mine plant &10 mineral concessions in the o Old mine dumps returned 100 – 400 g/t Zacatecas District to Defiance Silver silver Corp for cash and major share position • Cristian Mine o Samples from surface dumps returned• Zacatecas’ historical production is over 310 g/t silver, 24% lead, 8% zinc 700M silver ounces • San Pascual Mine o Samples from surface dump returned 875 g/t silver • Defiance recently announced a nearby, near-term production acquisition 18

CORPORATE SUMMARYYear Ended 9 Months Ended Dec 31st Dec 31st Dec 31st(‘000,000s $CDN except EPS) Sept 30th 2011 2010 2009 2008Revenue $19.4 $16.7 $12.2 $8.9Net Earnings $6.9 $3.4 $1.6 $.66Cash Flow from Operations $9.1 $5.6 $4.4 $1.7Cash & Cash Equivalents $33.7 $18.7 $5.3 $5.4EPS $0.11 $0.07 $0.02 $0.01• Recent share price: $1.76• Market capitalization: $119.7 million• Shares Outstanding: 68 Million (73 Million Fully Diluted)• Long-Term Debt: Nil• Listings: TSX.V:IPT / Frankfurt: IKL / ISIN: CA45257A1021• Energold Drilling (EGD: TSX.V) owns 6.87 Million shares• Institutions hold 30% of shares outstanding 19

PROVEN PROFITABILITY $30,000,000 Revenue PROJECTED* $25,000,000 Net Earnings Operating Cash Flow $20,000,000($CDN) $15,000,000 $10,000,000 $5,000,000 $- 2006 2007 2008 2009 2010 2011 $(5,000,000) Year CAPITAL EXPENDITURE USE EFFICIENCY ($CDN)* Total funds raised since start Property payments, plant & equipment, Cash Available of operations in January, 2006 and exploration expenditures $28 Million $38 Million $33.7 Million *Estimated projection based on inhouse estimates 20

SHARE PRICE PERFORMANCE – One Year Source: Yahoo Finance, 2012

IMPACT’S BOARD OF DIRECTORS:PROVEN LEADERSHIPFrederick W. Davidson (CA) President, CEO & Director Held senior management positions with Erickson Gold Mines Ltd. and TOTAL Energold Corp. Part of the management team that took both the Erickson and Mt. Skukum Gold mines from discovery to production. Currently President of Energold Drilling Corp. (EGD: TSX-V).George A. Gorzynski (P.Eng) VP Exploration & Director Director of Tirex Resources Ltd., Defiance Silver Corp., Rupert Resources Ltd. and Berkwood ResourcesH. Walter Sellmer (P.Geo) Director Held senior management positions with Amax Exploration, Canamax Resources and TOTAL Energold Corp.Victor A. Tanaka (P.Geo) Director Held senior positions with Teck Cominco, Asamera, Freeport McMoran, Aber Resources, Major General Resources and Canarc. Participated in the discovery of Polaris and Sunrise Mines.Richard J. Mazur (P. Geo, MBA) Director Holds senior positions in Alto Ventures Ltd. and Forum Uranium Corp.Peter Tredger (P. Eng, MBA) Director Past Vice President of Thompson Creek Metals Company Inc. and held senior management positions at Glencairn Gold Corp. and Wheaton River Mineral Ltd.Jean-Pierre Boutin (MBA) Director President and Money Manager in a private equity firm in Greenwich, Connecticut, former Treasurer of Xerox Corporation, Emerging Markets. 22

2012 OBJECTIVES• Commence open pit production of 200 tpd at the new Capire Project in late 2012• Ramp up production at Zacualpan’s Guadalupe Processing Plant to 500 tpd• Accelerate the Oscar Project into production, which is planned to feed high grade silver ore to the 500 tpd Guadalupe Processing Plant• Asses economic viability of the Huatecosco Gold Project and continue exploration of new silver targets and gold-copper systems• A strong positive cash flow and $33.7 million in the treasury allows for accelerated growth through aggressive exploration and potential acquisitions For more information please contact: 604 681 0172 inquiries@impactsilver.com 23

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Impact Silver Corporate Presentation

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