This corporate presentation discusses IMPACT Silver Corp, a silver producer with operations in Mexico. It highlights IMPACT's profitable silver production from three owned mines, a strong cash position, and plans to develop the new Capire mine and processing plant. The presentation provides an overview of IMPACT's properties in two districts of Mexico, including historical production levels, costs, and strategies for continued production growth through mine expansions.

1. C O R P O R AT E P R E S E N T AT I O N │ S E P T E M B E R 2 0 1 2
T S X – V : I P T │ F R AN K F U R T : I K L │ O T C : I S V L F

2. CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
Except for historical information, this presentation may contain certain “forward-looking” statements and information relating to
IMPACT that are based on the beliefs of IMPACT management, as well as assumptions made by and information currently available
to IMPACT management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including
but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating
hazards, metal prices, political and economic factors, 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 prove incorrect, actual
results and forward-looking statements may vary materially from those described herein. IMPACT does 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: general economic
conditions; changes in financial markets; the impact of exchange rates; political conditions and developments in countries in which
the Company operates; changes in the supply, demand and pricing of the metal commodities which the Company mines or hopes
to find and successfully mine; changes in regulatory requirements impacting the Company’s operations; the ability to properly and
efficiently staff the Company’s operations; the sufficiency of current working capital and the estimated cost and availability of funding
for the continued exploration and 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 place undue reliance
on the Company’s forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such
future results, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy
and completeness of these forward-looking statements.
NI43-101 QUALIFIED PERSON
George Gorzynski, P.Eng., Vice President, Exploration and a Qualified Person under the meaning of
Canadian National Instrument 43-101, is responsible for the technical information in this presentation.
1

3. CORPORATE HIGHLIGHTS
• Profitable silver production in Mexico: Three 100% owned and operated mines
• Corporate focus is on profits: 553% increase in net earnings from 2009 to 2011
• A strong cash position of $23.1M and zero debt and 90% of revenues from silver
• Building a new mining district: Capire Mine and Processing Plant in Mamatla, Mexico
• Friendly-to-investor, tightly managed share structure (73M Shares FD)
2

4. LOCATION
• Two mineral districts in a
large contiguous 623 sq km
land package
• A three-hour drive from
Mexico City with paved road
access to operating plant
• Excellent infrastructure:
modern electric power grid,
ample water supply and a
skilled Mexican work force
• Many other significant
mining operations nearby
3

5. HISTORY
• The Royal Mines of Zacualpan
is one of the oldest mining
districts in the Americas with
485 years of recorded mining
history
• Over 3,000 old mine workings
have been catalogued and
form the basis for modern and
effective exploration
• IMPACT bought the Zacualpan
assets in 2006 and then
One of 30 historic processing plants found in the
consolidated ownership of the district attesting to a long history of silver mining
entire district for the first time
in its history
4

6. TWO DISTRICTS, ONE LAND PACKAGE
ROYAL MINES OF ZACUALPAN SILVER DISTRICT
• Current active mining center
.
• Large 100% owned claim position
covers 423 sq km (163 sq miles)
• Central 500 tpd mill fed by three
underground mines: San Ramon,
Chivo & Noche Buena
• New underground Oscar mine
scheduled for production late
2012
• Substantial exploration
potential for both silver and gold
This map is reproduced in miniature on following slides
5

7. MINE PRODUCTION
ROYAL MINES OF ZACUALPAN
• 500 tpd Guadalupe Mill fed by
the San Ramon, Chivo and
Noche Buena mines
• YE 2011:154,289 tonnes
produced, average of 424 tpd
at 5.7 oz/ton (195 g/t) silver
recovered
• YE 2011: 833,607 silver ounces
produced
• YE 2011: $9 cash cost per
ounce silver net of lead and
zinc credits
• YE 2012: Oscar mine
scheduled for production
6

8. SILVER PRODUCTION
%
2011 2010 2009 2008 2007 2007 Change
2006-2011
Total tonnes processed (t) 154,289 131,348 114,340 102,426 99,918 99,918 +126%
Tonnes processed / day (t) 424 360 313 280 274 274 +116%
Silver (oz) Production 833,607 750,259* 823,571 645,668 349,949 349,949 +79%
Gold (oz) Production 676 600 - - - - -
Lead (t) Production 731 734 969 813 601 601 +95%
Zinc (t) Production 1,248 1,212 1,098 1,053 976 976 +72%
Revenue per production tonne
$171 $123 $110 $90 - - +90%
sold
Direct cost per tonne sold $70 $63 $60 $55 $44 $44 +17%
*Silver production was marginally down 9% in 2010 because the Company reduced the cut-off grade of the ore mined due to higher silver prices
• Strong organic growth marked by rapid mine development with first drill hole to
mine production in less than 24 months
• Currently building two mines: underground Oscar mine and open-pit Capire mine
• 2011 direct cost per tonne sold averaged $70 per tonne or $9 per ounce of silver net
7
of lead and zinc credits

9. TWO PRODUCTION CENTERS
OPERATING UNDER CONSTRUCTION
• Guadalupe Processing Plant, Zacualpan • Capire Processing Plant, Mamatla
• 500-tpd crushing and flotation circuit • 200-tpd pilot plant being installed
with future expansion plans
8

10. TWO DISTRICTS, ONE LAND PACKAGE
CAPIRE DISTRICT
• Newest mineral district in
IMPACT’s land package, located .
16 km southwest of Zacualpan in
Mamatla, Mexico
• Mamatla concession covers 200
sq km (77 sq miles)
• Capire open-pit VMS deposit will
be the first mine in the district
• Initial production from 200 tpd
pilot plant, currently under
construction
• Future silver production from Capire Mine & Processing Plant, September 2012
Capire is anticipated to propel
IMPACT into a multimillion
ounce silver producer
9

11. NEW MINE DEVELOPMENT #1
CAPIRE PRODUCTION CENTER
Defined NI 43-101
Plant Open for
Mineral Resources
expansion
Site
Tailings Facility
Capire Open for expansion
open pit
3D Model Processing Plant Site
Open-Pit Tailings Facility
Capire Mine site Capire Mine: Open pit model
• Capire mine represents a new production center in a new
mining district
• Strategy to bring Capire to full-scale production:
o 2012: Construction of 200-tpd pilot plant and 5,000 m drill program
o 2013 & 2014: 200 tpd pilot plant production (~200,000 oz silver
annually) to optimize operating parameters for expansion plans
o 2015: Construction of full scale plant (800-1,500 tpd) with goal to
10
produce over 1M oz silver annually

12. CAPIRE
NI 43-101 MINERAL RESOURCE ESTIMATE
Metal Content for Capire Project
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 &
Indicated
7,224,035 30,446 7,083,007 37,264,478 95,662,993
Inferred 435,959 1,919 475,594 2,260,089 5,823,490
Summary of 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
Total Measured + Indicated 4,912,246 45.74 0.193 0.06 0.34 0.88
Total Inferred 371,066 36.54 0.161 0.06 0.28 0.71
• Initial production planned on higher grade portion of Capire
• Drilling is continuing at Capire to expand mineral resources
• Capire zone lies in the same stratigraphy as Campo Morado where Nystar (formerly Farrallon
Resources) is in production on the large G-9 VMS deposit, which is on trend 45 km southwest
11 of Capire

13. NEW MINE DEVELOPMENT #2
OSCAR MINE
• Oscar is a silver vein
corridor on the southern
extension of the past-
producing Cuchara Mine
• The high grade Oscar-Santa
Lucia Zones are scheduled
for production in late 2012 to OLD CUCHARA MINE
replace the Chivo mine
where grades are dropping
with depth
OSCAR MINE
• Pre-existing Cuchara mine SANTA LUCIA ZONE
mining infrastructure will
contribute to low capital
costs and rapid mine
development at Oscar (<1yr)
12

14. NEW MINE DEVELOPMENT #2
OSCAR MINE
• Oscar and Santa Lucia host high grade veins as found in the following drill holes:
OSCAR CORRIDOR DRILLING HIGHLIGHTS SANTA LUCIA ZONE DRILLING HIGHLIGHTS
True Lea True
Drill Silver Gold Zinc Drill Silver Gold Lead Zinc
Width d Width
Hole (g/t) (g/t) (%) Hole (g/t) (g/t) (%) (%)
(m/ft) (%) (m/ft)
31m / 1.4m /
Z11-44 291 0.01 0.1 0.4 Z09-35 600 0.10 - -
101.7ft 4.6ft
7.5m / 6.3m /
Including 780 0.02 0.4 1.1 Z09-47 278 0.01 0.2 0.7
24.6ft 20.7ft
5.8m / 3.2m /
Including 398 0.03 0.2 0.9 Including 467 0.01 0.2 1.1
19.0ft 10.5ft
5.7m / 1.0m /
Z11-46 1,007 0.07 0.5 1.1 Z09-50 602 0.02 0.1 0.1
18.7ft 3.3ft
2.8m / 2.4m /
Including 1,128 0.51 0.9 1.4 Z09-53 419 0.03 0.3 0.3
9.2ft 7.9ft
1.1 / 1.1m /
Including 4,580 0.26 1.7 4.0 Z09-55 372 0.01 0.1 0.2
3.6ft 3.6ft
6.6m / 2.1m /
Z11-64 223 0.08 0.2 0.5 Z09-58 274 0.10 0.4 1.2
21.7ft 6.9ft
1.0m / 1.1m /
Z11-74 1,875 0.74 2.7 6.9 Z10-03 588 0.05 0.4 2.0
3.3ft 3.6ft
23.4 / 1.7m /
Z12-08 115 0.02 0.1 0.4 Including 394 0.07 1.1 1.6
76.8ft 5.6ft
13

15. GEOLOGY
METAL DISTRIBUTION IN ORE ZONES
• Veins in the Royal Mines of
Depth Length Mining Level
Zacualpan District tend to 150-420 m (500-1400 ft)
be silver-rich near the top 0 m (0 ft)
(commonly 1,000+ g/t) with Silver-rich at top Oscar Mine
increasing lead and zinc 200 – 1,000+ g/t Ag
Noche Buena Mine
and decreasing silver
toward the bottom
San Ramon Mine
150 m (500 ft)
• New discoveries indicate
that significant gold and
copper may lie at depth Lead & Zinc rich
at bottom Chivo Mine
300 m (1,000 ft) 60 – 150 g/t Ag
• Capire zone is a different
Carlos Pacheco
type of mineralization: a Typical
Gold (Copper) Gold-Copper Zone
volcanogenic massive Mining Width at depth
sulfide (“VMS”) deposit
3 m (10 ft) Host to high grade
Gold
14

16. VALLE DE ORO
GOLD POTENTIAL AT DEPTH
• First gold-copper zone found by company prospectors in a canyon below the
known silver veins
• Initial drill results on two zones returned high gold values (see tables below)
• These initial drill results indicate potential gold horizons lying at depths of
300 m (1,000 ft) below the silver district
• Drilling will test gold targets at depth on other silver veins
CARLOS PACHECO DRILLING HIGHLIGHTS HUATECOSCO DRILLING HIGHLIGHTS
True Width Gold Silver Copper Drill True Width Gold Silver Lead Zinc
Drill Hole
(m/ft) (g/t /opt) (g/t) (%) Hole (m/ft) (g/t /opt) (g/t) (%) (%)
2.1 m / 11.3 g/t 0.34 4.1 m / 5.2 g/t
Z08-65 18 - Z11-48 30 0.7 1.8
6.9 ft opt 13.5 ft 0.16 opt
1.2m / 18.8 g/t 0.8 m / 25.0 g/t
Including 24 - Including 50 0.5 1.6
3.9 ft 0.56 opt 2.6 ft 0.75 opt
2.9 m / 19.6 g/t Z11-17 3.2 m / 3.4 g/t
Z08-68 68 0.29 118 0.6 0.8
9.5 ft 0.59 opt 10.5 ft 0.10 opt
1.0 m / 49.7 g/t 1.8m / 3.5 g/t
Including 59 0.31 Z11-19 321 0.4 0.6
3.3 ft 1.49 opt 5.9 ft 0.11 opt
1.7 m / 31.1 g/t
Including 69 0.31 9.5 m / 3.97 g/t
5.6 ft 0.93 opt Z11-20 49 1.7 2.6
31.2 ft 0.12 opt
Z12-13 2.8 m / 8.5 g/t
56 1.12 4.2 m / 6.96 g/t
Including 9.0 ft 0.26 opt Including 84 2.9 5.1
13.9 ft 0.21 opt
15

17. TECHNICAL SUMMARY
IMPACT’s goal is to build a multimillion ounce precious metals
producer with multiple processing centers
1. Guadalupe Production Center
• Oscar Silver Mine scheduled for
production in late 2012
• Current ore feed from San Ramon, Noche
Buena and Chivo Mines 1
2. Capire Production Center
• New production centre in new district
• Initial production through 200-tpd pilot plant
• Multiple gold and silver targets in district
3. Valle De Oro Gold & Silver Area
• Area of many silver veins with gold and
3
copper mineralization at depth
• Large drill program currently underway
• Potential site of a third processing plant 2 4
4. Southeast Exploration Area
• Currently mapping numerous old
mine workings, early stage exploration
16

18. RAPID EXPLORATION
TO MINE DEVELOPMENT
• A cornerstone of IMPACT’s success is rapid mine development to generate near-term
cash flow
• Since 2006, IMPACT’s team has successfully discovered and built three new mines with
two additional mines now under construction
EXPLORATION AND MINE DEVELOPMENT PROCESS FLOWCHART:
RESEARCH FIELD WORK DRILLING MINE &
DISTRICT MINE
Compile old Surface & Drilling in DEVELOPMENT PRODUCTION
mines/ underground phases & CASH
prospects from sampling, based on Mine Planning,
FLOW
historic maps mapping success Permitting and
Construction
• Capire (North)
More than • Capire (new • San Ramon
• Pilarica
3,000 old Select mining district)
• Condesa & • Noche
mines and areas and
Cuchara North Buena
prospects prospects • Oscar
catalogued for drilling • Carlos Pacheco • Chivo
to date • Huatecosco • Santa Lucia
• Gallega
First Drill Hole to Production: 12 – 24 Months
(Chivo, San Ramon Extensions, Noche Buena)
17

19. FINANCIAL SUMMARY
% Change
($000’000’s CDN except of EPS) 2011 2010 2009 2008 2007 2006*
2006-2011
Revenue $24.3 $16.7 $12.2 $8.9 $7.3 $7.0 +247%
Net Earnings $7.6 $3.4 $1.6 $.66 $.29 $.51 +1,390%
Operating Cash
$10.2 $5.4 $3.7 $2.2 $1.9 $2.6 +292%
Flow*
Cash & Cash
$30.8 $18.7 $5.3 $5.4 $10.1 $4.0 +670%
Equivalents
Working Capital $31.9 $20.2 $6.3 $7.3 $11.3 $5.2 +467%
EPS $0.12 $0.07 $0.02 $0.01 $0.01 $0.01 +1,100%
* Royal Mines of Zacualpan project purchased by IMPACT Silver in January 2006
Revenue
$30,000,000
$25,000,000
$20,000,000 Net Earnings
$15,000,000
$10,000,000
Operating Cash Flow
$5,000,000 before changes in
$- non-cash operating
2006 2007 2008 2009 2010 2011 capital*
18

20. LONG-TERM VALUE PLAY
MARKET INFORMATION – SEPT 2012
Recent 52 Wk $0.96 -
$1.55
Share Price Range $2.35
Shares Basic – 68 M Avg Vol
125,000
Outstanding FD – 73 M (3m)
Market Cap 105 M Warrants Nil
Largest Positions
Sprott Asset Management, 12%
Energold Drilling Corp, 11%
Share Price Performance, 3 Years Source: Stockwatch, Sept 2012
CAPITAL EXPENDITURE USE EFFICIENCY ($CDN)*
Total funds raised since start of Property payments, plant & equipment, Cash Position
operations in January, 2006 and exploration expenditures (June 30th, 2012)
$25 Million $38 Million $23 Million
19

21. ZACATECAS OPTION AGREEMENT
DEFIANCE SILVER CORP. (TSX.V:DEF)
• IMPACT Silver optioned its
200-tpd Santa Gabriela Santa Gabriela Processing Plant
Processing Plant and ten mineral
concessions to Defiance Silver
for cash and a 16.5% share
position
• Defiance Silver is a near term
silver producer exploring in the
Zacatecas Mining District in
Mexico
• Defiance Silver plans to marry
IMPACT’s Santa Gabriela plant
with their San Acacio Silver Mine
(18M oz Silver defined)
San Acacio Silver Mine
20

22. FUTURE PLANS AND GOALS
2012
• 2012 is a transition year as IMPACT builds two new mines, laying the
foundation for the next phase of profitable silver production growth
• Continue aggressive exploration to accelerate organic growth at the
Royal Mines of Zacualpan
• With over $23 million of unallocated cash and consistent production
earnings, pursue accretive merger and acquisition opportunities of
near term production or cash-strapped precious metals companies
worldwide
2013 to 2015
• Double silver production with expansion of Capire Production Center
• Continue exploration and development of both silver zones and deep
gold zones within the gold-rich Valle de Oro zone
21

23. WHY IMPACT SILVER?
• Five years of increasing
revenues and earnings
• Strong cash position & zero
debt
• Expanding silver production
with two new mines
commencing production within
the next five months
• Aggressive exploration for gold
and silver in the Valle de Oro
• Tight share structure and small
This statue of a miner is located in front of the market cap for a profitable
church in the town of Zacualpan, signifying the
importance and acceptance of mining within producer
the community and the surrounding areas.
• Proven history of profitable
mining success
22

24. Contact Us
Telephone: 1 604 681 0172
Email: inquiries@impactsilver.com
www.impactsilver.com