South American Silver Corp. aims to develop one of the largest undeveloped silver and indium resources in the world, featuring two significant deposits: Malku Khota and Escalones, which hold substantial proven and inferred resources. The company emphasizes its experienced management team, strong business plan, and focus on community relations, anticipating low-cost production and notable shareholder value. Key market trends indicate a growing demand for silver and strategic metals like indium and gallium, driving potential for future growth despite inherent industry risks.

1. VALUE.GROWTH.VISION
Growing and advancing one of the world’s largest
undeveloped silver and indium resources.
Corporate Presentation TSX: SAC, US OTC: SOHAF
January 2012 www.soamsilver.com

2. Cautionary Notes
Forward-looking statements
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.
Cautionary note regarding reserve and resource estimates
The material in this presentation has been prepared in accordance with the requirements of the securities laws in effect in
Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve
estimates included in this presentation have been prepared in accordance with National Instrument 43-101 Standards of
Disclosure for Mineral Projects (―NI 43-101‖) and the Canadian Institute of Mining and Metallurgy Classification System. NI 43-101
is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer
makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ
significantly from the requirements of the United States Securities and Exchange Commission (―SEC‖), and resource and reserve
information contained herein may not be comparable to similar information disclosed by U.S. companies. In particular, and without
limiting the generality of the foregoing, the term ―resource‖ does not equate to the term ―reserves‖. Investors should also
understand that ―inferred mineral resources‖ have a great amount of uncertainty as to their existence and great uncertainty as to
their economic and legal feasibility. It cannot be assumed that all or any part of an ―inferred mineral resource‖ will ever be
upgraded to a higher category. The estimation of quantities of resources and reserves is complex, based on significant subjective
assumptions and forward-looking information, including assumptions that arise from the evaluation of
geological, geophysical, engineering and economic data for a given ore body. This data could change over time as a result of
numerous factors, including new information gained from development activities, evolving production history and a reassessment
of the viability of production under different economic conditions.
Changes in data and/or assumptions could cause reserve estimates to substantially change from period to period. No assurance
can be given that the indicated level of mineral will be produced. Actual production could differ from expected production and an
adverse change in mineral prices could make a reserve uneconomic to mine. Variations could also occur in actual ore grades and
recovery rates from estimates.
2

3. Investment Highlights
South American Silver Corp.
• 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
o 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
o NI 43-101-qualified Indicated resource of 230.3 million ozs silver, 1,481
tonnes of indium and 1,082 tonnes of gallium and an Inferred resource of
140 million ozs silver, 935 tonnes indium and 1,001 tonnes gallium.
Escalones: high potential copper-gold-silver deposit with an Inferred resource
of 3.8 billion lbs of copper and 610,000 oz of gold and 16.8 million ozs silver
• Well defined business plan to drive shareholder value
• More than $230 worth of metal in the ground per share (>$100 of silver, >$100 of
copper, and >$30 of indium and gallium1
• Attractive investment value relative to peers at low value per oz
• Anticipated low cost silver production at approximately $2.94/oz of silver2
• Strong focus on community relations to proactively facilitate mutually beneficial
relationships
1) $25 /oz silver, $3 /lb copper, $700/kg indium and gallium
2) Net of base metal credits
3

4. World-Class Deposits
Two large-scale assets in South America
Malku Khota, silver-indium project, Bolivia
(100%)
• Pre-Feasibility level update in Q2 2012 with
Feasibility work starting in H2 2012
• Bulk mineable open-pit, sediment hosted
deposit
• Low capital and operating costs as a heap
leach or milling operation
• Resource expansion potential with only 4 km
of a 15 km trend drill tested on the 50 sq km
property
• Potential to be one of the worlds top
producing silver and indium mines
Silver Indium Gallium Ag Eq1
(Moz) (tonnes) (tonnes) (Moz)
M&I 230 1,481 1,082 354
Inferred 140 935 1,001 240
1)Silver Equivalent (Ag Eq) calculated using total contained metal
using base case metal pricing (Ag at $18/oz, In at $500/kg , Ga at
$500/kg, Cu at $3/lb, Pb at $0.90/lb, and Zn at $0.90).
4

5. World-Class Deposits
Two large-scale assets in South America
Escalones, copper-gold-silver project,
Chile (100%)
• Inferred Resource of 3.8 billion lbs of Cu, 56.9
million lbs of Mo, 610,000 ozs of Au and 16.8
million ozs of Ag
• Phase II exploration program underway to
include up to 7,000 meters of follow-up drilling
• Step-out testing of the known mineralized
zones and testing of new geophysical targets
• Located within a world-renowned copper
district near the world‘s largest underground
copper mine, El Teniente
Total Contained Metal
Copper Gold Silver Moly Cu Eq1
Mlbs Ozs Moz Mlbs Mlbs
Inferred 3,835 610,000 16.8 56.9 4,503
In Situ Grade
Tonnes Copper Gold Silver Moly Cu Eq1
Millions % g/t g/t ppm %
420.6 0.41 0.05 1.24 61.39 0.49
1)Copper Equivalent (Cu Eq) calculated using total contained metal
for copper ($3/lb), gold ($1200/oz), silver ($22/oz), and molybdenum
($16/lb) and has not been adjusted for metallurgical recoveries.
5

6. Share Capitalization1
TSX:SAC, US OTC:SOHAF
Issued &
Outstanding Options2 Warrants3 Fully Diluted1
101.9M 11.0M 5.5M 118.4M
• ~$160 million Market Capitalization (4) Major Shareholders
• Average 3 mo. trading volume 150,000 shares/day •Zamin --19%
• $28 million in cash(1) •Private investors--18%
•Management5 -- 8%
Institutional Ownership
•Sprott Asset Management
•Front Street
•US Global
(1) As of Nov 17, 2011, (2) Weighted avg .exercise
price $0.99 CAD (3) Weighted avg. exercise price 6
$0.97 (4) As of Dec 5, 2011 (5) Direct ownership only

7. Adding Value Through Resource Growth
Total resources with value shown relative to silver
Ag Moz In+Ga tonnes Cu Mlbs
450 6000
Ag Eq Inferred Resource
400
Ag Eq M&I Resource 5000
Tonnes of Indium and Gallium2 (combined)
Million Pounds of Copper Equivalent3
350 In & Ga Inferred Resource
Million Ounces of Silver Equivalent1/
In & Ga M&I Resource
300 4000
Cu Eq Inferred Resource
250 Cu Eq M&I Resource
3000
200 6000
150 4500 2000
100 3000
1000
50 1500
0 IPO 0
Total resources for both Malku Khota and Escalones
1) Ag Eq calculated using total contained metal for silver ($22/oz) and gold ($1200/oz) only
2) Total combined tonnes of indium and gallium
3) Cu Eq calculated using total contained metal for copper ($3/lb), lead ($0.90/lb), zinc 7
($0.90/lb), and molybdenum ($16/lb) only

8. Comparative Silver Resources in the Americas
Second largest development stage silver resource
500
450 Additional value
of Indium and Gallium
400 Inferred Resources
Millions of Silver Ounces
350
M&I Resources
300
250
200
150
100
50
0
South
Alexco Silvercrest US Gold Sulliden MAG Silver Orko Golden Sabina Tahoe So.American Bear Creek
American
Minerals Resources Silver
Silver
Yukon Mexico Mexico Peru Mexico Mexico Mexico Nunavut Guatemala Bolivia Peru
(Canada) El Salvador Peru (Canada) Chile
Source: Canaccord Report resource numbers as of January 11, 2011
Note: All companies have projects in South and/or North America
8

9. Enterprise Value per Silver Resource Oz
By project development stage
Producer
$14.00
Average
~$10/oz
$12.00
EV of >$0.80 base on 230.3 million M&I oz Ag Advanced Development
$10.00 Stage Average ~$5/oz
$8.00
Development Stage
Average ~$2.5/oz
$6.00
$4.00
$2.00
$0.00
Source: Canaccord & Intierra as of June 9, 2011,
Note: All companies have projects in South and/or North America
9

10. Development Stage Value Curve
Potential value growth with project advancement
Average Enterprise Value per Oz of Silver by Stage
Production
Take-Over offers or
Partnerships
Construct $10/oz
Increasing Market Value
Increased value common at this
through resource stage
expansion Permits
FS
Malku Khota
Project $5/oz
Escalones
PFS
Project
Resource PEA
Definition
$2.5/oz
Early Stage Advanced Production
Discovery Exploration & Development
Development Stage (Reserves)
Increasing value with project advancement
Source: Recent average enterprise value per ounce of silver at
various development stages for North and South American based
10
projects. Canaccord, Wellington West and Company reports.

11. Current Silver Company Market Valuations
by Resource Size & Development Stage
Size of circle represents market valuation premium in EV/oz
Developers Adv. Developers Producers
Allied Nevada
MK Value at Avg Valuation Silver Standard
for each development stage Pan American Silver
1000
2012 Coeur d`Àlene
Total Resource Size (Moz's)
South American Silver Bear Creek 2011
Malku Khota
PFS/FS Production
500 PEA First Majestic
Current Value
MK MK MK
Silver Bull Sulliden Tahoe
Silvermex Hecla
US Gold Hochschild
100 Silver Quest MAG
Endeavour
Esperanza US Silver Int`l Minerals
Aurcana
Troy
Extorre
Arian
Castle Alexco
Great Panther
Golden Predator
10
$50 $100 $200 $300 $500 $1,000 $2,000 $5,000
Enterprise Value (US$ Millions)
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 Jan 3 2012, 11
Note: All companies have projects in South and/or North America

12. Positive Silver Fundamentals
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 12

13. Silver Supply/Demand Fundamentals
• Dramatically increased demand growth driven by strong investment demand plus
increased industrial consumption(1)
• Demand growth expected to continue to outstrip production growth(2)
World Silver Supply World Silver Demand +17% total
+8% total demand
supply 1200 Industrial Applications growth
1200 Mine production
growth Photography
Secondary Supply and Scrap Jewelry and Silverware +40%
1000 Government Sales 1000 Investment and Coins investment
demand
800 800
Million Ounces
Million Ounces
+2.5%
mine 600
600
production
400 400 +21%
industrial
demand
200 200
0 0
Source: 1) GFMS World Silver Survey 2011
2) BMO Capital Markets Global Mining Research April 2011 13

14. Growing Demand for Silver in Technology
Breakdown of key technology/industrial uses for silver
500
Photovoltaic
400
Catalysts, alloys, solders and biocides
Millions of Silver Oz
300
Electronics
200
100
0
77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09 11p
Source: CPM Silver Yearbook 2010
Not for reproduction without written CPM Group consent
14

15. Silver Primary & By-Product Production(1)
• 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)
300 25
Lead/Zinc
Primary
Copper
250
Gold 20
Silver Price
Millions of Ounces of Silver
200
Silver Price (US$)
15
150
10
100
5
50
0 0
2003 2004 2005 2006 2007 2008 2009 2010
Source: 1) GFMS World Silver Survey 2005-2011
2) BMO Capital Markets Global Mining Research April 2011 15

16. Indium & Gallium – Two Key Strategic Metals
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
*
flat panel displays LED lighting thin film solar
* Image from http://gotpowered.com
16

17. Indium & Gallium Fundamentals
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 on 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 17
Report on Strategic Metals ,May 2011 .

18. Indium Demand Growth
Growing demand in high-tech markets
2500
Solar Energy
End-use Market Demand (tonnes)
LED Lighting 5 year
2000
LCD Flat Panels projected
demand
growth
1500
1000
2010 total
indium
500
production
level
0
2010 2011E 2012E 2013E 2014E 2015E 2016E
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 18
Energy Critical Minerals Strategy Report December 2010

19. Indium Fundamentals
World indium demand vs price (1969-2011*)
2500 2000
1800
Indium Price/kg ($US)
2000 1600
Demand
Indium Demand
1400
Price
1500 1200
Current Indium Price
X 1000
1000 800
600
500 400
200
0 0
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

20. Silver Mines in Bolivia
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
20
US OTC:SOHAF

21. Opportunity in Bolivia
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
 Kores of South Korea set to invest $210 million to develop the Corocoro copper project
 Recently announced investments by Citic of China and LG/Posco of South Korea to
develop major lithium resources
TSX:SAC
21
US OTC:SOHAF

22. Malku Khota Project
One of the world’s largest silver-indium resources
Malku Khota Project – 2011 Resource Estimate2
Silver Indium Gallium Copper Lead Zinc AgEq3
(Moz) (tonnes) (tonnes) (MLbs) (MLbs) (MLbs) (Moz)
M&I 230 1,481 1,082 120 453 247 354
Inferred 140 935 1,001 102 362 246 240
Host rock sandstone with disseminated Enrichment starts at surface
silver, indium, gallium, lead, zinc and copper
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, 4
1) Average for the first 5 years of production
2) See March 31, 2011 News Release for detailed resource estimate
3) Total contained metal using base case prices (Ag: $18/oz, In:
$500/kg, Ga: $500/kg, Cu: $3/lb, Pb: $0.90/lb, Zn: $0.90/lb USD)
22
4) Economic cut-off grade comprised only of silver and indium

23. Malku Khota Project
Low projected capital and operating costs with established infrastructure
• 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 Moz
silver per year and 80 tonnes of indium1
• Project base case annual cash flows and NPV‘s more than doubled
• Open pit, bulk mineable and very scalable
• Commercial electricity and natural gas nearby
1) Average for the first 5 years of production
23

24. Malku Khota Drilling
Grade thickness map
• 115 drill holes in current resource with OPEN
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 Mineralized
Ag oz Sandstones
• 2012 program to target conversion from
resources to reserves & expansion drilling
OPEN
• 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
OPEN
TSX:SAC
24
US OTC:SOHAF

25. Malku Khota Mineralization
• 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
OPEN
OPEN
TSX:SAC
25
US OTC:SOHAF

26. Production Processes
From ore to metal
Open Pit Mining
• Large scale shovel and truck open pit mine
• Oxide ore crushed in preparation for direct Crushing
leaching
• Four years of metallurgical test work with SGS Leaching
labs on acid leach process
• Acid-chloride leaching captures
silver, indium, copper, lead, zinc, gallium and gold Metal Recovery
& Processing
• Metal recovery in several steps:
• Acid recovery
• Silver-gold-copper cementation Silver, Gold,
Copper
• Indium-gallium precipitation
• Lead and zinc sulfides Indium &
Gallium ingots
• Downstream processing to metal products
Lead & Zinc
concentrates
TSX:SAC
26
US OTC:SOHAF

27. 2011 Economic Assessment1 Metal Prices ($US)4
Base Case Mid Case Recent
Mining Rate 40,000 tpd (3 yr avg) (2 yr avg) (1 yr avg)
Life of Mine 15 years Silver : $18/oz $25/oz $35/oz
Ore Mined (LOM)2 200 M tonnes Indium : $500/kg $570/kg $650/kg
Average Silver Grade 3 42.4 g/t Gallium: $500/kg $570/kg $730/kg
Average Indium Grade3 7.55 g/t
Ag Eq grade 58 g/t Share of Gross Revenue
First LOM (at base case prices)
Recovered Metals Total 5 years Annual
Silver (oz) 158 M 13.2 M 10.5 M
Indium (tonnes) 1,184 80.7 78.9 5% 3% Silver
Lead (lbs) 191 M 12.48 M 12.7 M 6%
Zinc (lbs) 135 M 4.42 M 9M
Copper (lbs)
Indium &
88 M 5.64 M 5.87 M
Gallium (kgs) Gallium
212,962 15,184 14,198 15%
Copper
Base Case Mid Case Recent
First 5 years cash flow $185 M/yr $287 M/yr $430 M/yr 71%
Net cash flow $1,261 M $2,528 M $4,298 M Lead
NPV (5% discount rate)1 $704 M $1482 M $2571 M
Internal Rate of Return 37.7% 63% 92.9%
Payback period (years) 27 months 19 months
Zinc
15 months
(1)In US dollars, March 2011, PEA (4) Base Case: 3 yr avg prices as of May 2011
(2)LOM = Life of Mine Mid Case: 2 yr avg prices as of May 2011
(3)First 5 years of production Recent Case: 1 yr avg prices as of May 2011 27
(avg/yr)

28. Malku Khota PEA Update Projected Production Levels
13-20 Moz Silver Equivalent Production first 11 years
22
Production - Silver Equivalent Ounces (Million)
Copper
20
Zinc
18
Lead
16
14 Indium & Gallium
12 Silver
10
Annual Average
8
6
4
2
0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Production Year
Source: March 2011 Malku Khota PEA
Values in US$ 28

29. Actual/Anticipated Annual Ag Production (Moz)
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
0.0
Coeur d'Alene
Pan American Silver
Source: CPM Silver Yearbook 2011
Silver Standard Resources
Silver Standard Resources
Producing Mine
Hecla
Hochschild
*Based on mine production of 13.2 Moz /year for first five years
Development Stage Project
Cia De Minas Buenavertura
Yamana Gold
Etibank
29
Bear Creek Mining
Hochschild
Polymetal MNPO
Sabina Gold & Silver
South American Silver Corp.
Goldcorp Inc.
Industrias Penoles
Pan American Silver
Tahoe Resources
Sumitomo Corp.
Target to increase production to 18-20 Moz
Barrick Gold Corp.
Primary Silver Project Annual Production Rates
Fresnillo
Malku Khota one of largest emerging producers at over 13 Moz/yr
BHP Billiton

30. Global Silver Industry Cash Cost Curve
Anticipated low-cost silver production
Cumulative Percentile of Silver Mine Production Cost
Lowest 25% Percentile
Total Cash Cost Per Ounce of Silver
Cash Costs
Malku Khota
13.2 Mozs/yr (1)
~ $2.94/oz at 3 yr avg prices(2)(3)
~ $2.01/oz at 2 yr avg prices(2)(3)
~ $0.86/oz at 1 yr avg prices(2)(3)
Industry Average
Cash Cost
$5.27/oz
Source: GFMS World Silver Survey 2011
(1) Avg first 5 years of production (2) Silver cash costs after credits ($US)/oz
(3) 3 year average price: Ag $18, In $500, Ga $500, Cu $3, Pb $0.90, Zn $0.90 30
2 year average price: Ag $25, In $570, Ga $570, Cu $3.70, Pb $1, Zn $1
1 year average price: Ag $35, In $650, Ga $730, Cu $4.30, Pb $1.20, Zn $1.10 , all as of May 2011

31. Escalones Copper-Gold-Silver project, Chile
High potential, large-scale target
Inferred Copper Gold Silver Moly Cu Eq Copper Gold Silver Moly Cu Eq1
Tonnes (%) (g/t) (g/t) (ppm) (%) (Mlbs) (Ozs) (Mozs) (Mlbs) (Mlbs)
420 M 0.41 0.05 1.24 61.39 0.49 3,835 610,000 16.8 56.9 4,503
• 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
• Inferred Resource of 3.8 billion lbs of
copper, 56.9 million lbs of
molybdenum, 610,000 ozs of gold
and 16.8 million ozs of silver
• Phase II exploration program
underway
1) Cu Eq calculated using total contained metal at $3.00/lb
Cu, $1200/oz Au, $22/oz Ag, and $16/lb Mo and has not been
adjusted for metallurgical recoveries
31

32. Escalones Project Logistics
Excellent existing infrastructure
Ownership: 100% through lease SAC property
Location: 35km E of El Teniente Gas pipeline
Access Road
Elevation: 3800m
• 70 square kilometer property
• Road accessible located 100 km
southeast of Santiago
• Gas pipeline across property
TSX:SAC
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US OTC:SOHAF 31

33. Drill Results Grade Thickness Map
Large-scale copper-gold-silver system
• Open to expansion down dip
and laterally
• 30 diamond drill holes
(12,666 meters) and 43
channel and road cuts
(>2,100 meters) with >10,934
assay values collected
through 2011
• Limited testing of porphyry
system with most holes in
replacement /skarn style
mineralization
CuEq GT AuEq GT
Copper (%) x Thickness (m) Gold (g/t) x Thickness (m) Metal Prices
0 – 10 CuEq% GT 0 – 17 AuEq GT
Copper - $1/lb
10 – 50 CuEq% GT 17 – 85 AuEq GT
Gold - $1000/oz
50 – 100 CuEq% GT 85 – 171 AuEq GT Silver - $15/oz
171 – 342 AuEq GT Moly - $15/lb
100 – 200 CuEq% GT
>= 200 CuEq% GT >= 342 AuEq GT
TSX:SAC
33
US OTC:SOHAF 32

34. Escalones
Geological cross-section
• Enriched zones with high grades of replacement style mineralization starting at surface
at over >1% copper with significant gold and silver
• Large scale porphyry target with intercept of 176 m @ 0.6% copper with additional
credits from gold, silver, and molybdenum
Alto
Bajo
TSX:SAC
US OTC:SOHAF 34

35. Current Copper Company Market Valuations
by Resource Size & Development Stage
Size of circle represents market valuation premium in EV/lb
Developers Adv. Developers Producers
Avg Value 2.5cents/lb 5cents/lb 15cents/lb
100000 Escalones Value at Avg Valuation
Total Resource Size (Mlbs Cu)
for each development stage
Augusta Resource Northern Dynasty
Taseko Mines Quadra FNX
Minera Andes
Candente Copper
Lumina Copper
Nevada Copper
Imperial Metals
10000 Escalones
Current Stage Western Copper PFS/FS Production
Capstone Mining
NGEx Resources
Panoro Minerals Hana Mining Mercator Minerals
ESC
ESC ESC
Copper Fox
Redhawk
Copper Mountain
1000
$50 $100 $300 $500 $1000 $2000
Enterprise Value (US$ Millions)
Source: Canaccord Report November, 2011
35

36. Community Relations
A key to successful project development
• Recent key addition to community relations team:
• Jim Mallory, VP Operations and Social Responsibility – 35 years industry experience
previously with Silver Standard, NovaGold, & Barrick (Placer Dome)
• 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
TSX:SAC
US OTC:SOHAF 36

37. Project Milestones
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*
Cash flows, project valuations and rates of return significantly expanded over
previous studies
• Major camp expansion to support additional drills
• Infill and expansion drilling program beginning Q1 2012
• Updated Economic Assessment in Q2 2012
• Feasibility work to begin in H2 2012
• Escalones, copper-gold-silver porphyry project, Chile
Phase I exploration and geophysics program complete
Initial resource estimate completed
Phase II drill program underway
• Resource update mid-2012
• Preliminary Economic Assessment in Q4 2012
*Average first five years of production 37

38. Leveraged to Silver Additional value
Value of silver per dollar invested of Indium and Gallium
Additional value
of Copper
Silver value per $1 invested
70
SAC has some of the best leverage to silver of any development
stage company with over $65 of silver value per $1 invested
60
50
40
30
Average value of silver ~$16 of silver per $1 invested*
20
10
0
Silver ETF Sulliden US Gold Tahoe MAG Silver Silvercrest Sabina Orko Silver Bear Creek Golden South American
So.American
Resources Standard Minerals Silver Corp.
Silver
Source: Canaccord as of January 17, 2011, Share prices updated Jan 3 2012
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 38
Value only shown for silver with no contribution from other metals. Cu value calculated
using $2.25

39. Why South American Silver?
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
• More than $230 worth of metal in the ground per share (>$100 of silver, >$100 of
copper, and >$30 of indium and gallium)1
• Attractive investment value relative to peers at low value per oz
• Exposure to rapidly growing indium and gallium high-technology market
• New copper-gold-silver resource and expansion at Escalones
• Continued investor outreach to broaden market awareness of Company
1) $25 /oz silver, $3 /lb copper, $700/kg indium and gallium
39
37

40. TSX: SAC
OTC: SOHAF
Phone: 604.681.6926
1.855.681.6926
www.soamsilver.com
Appendix
TSX:SAC
40
US OTC:SOHAF

41. Resource Summary
MALKU KHOTA In Situ Grade Total Contained Metal
Approx. 10 g/t Ag Cutoff1 Ag In Ga Cu Pb Zn Ag Eq2 Ag In Ga Cu Pb Zn Ag Eq2
Resource Tonnes g/t g/t g/t % % % g/t Moz tonnes tonnes Mlbs Mlbs Mlbs Moz
Category Millions
Measured 31.0 33.40 6.10 4.50 0.02 0.07 0.02 49.00 33.32 188.00 139.0 13.9 49 16 48.55
Indicated 224.0 27.30 5.80 4.30 0.02 0.07 0.05 43.20 196.96 1,293.00 943.0 106.4 405 231 311.45
Total M&I 255.0 28.10 5.80 4.30 0.02 0.07 0.04 43.77 230.28 1,481.00 1,082.0 120.3 453 247 358.80
Inferred 230.0 18.90 4.1 4.3 0.02 0.07 0.05 33.04 140.03 935 1,001 102 362 246 244.36
Mineral resources in the above table were estimated as of March 30, 2011 for the Preliminary Economic Assessment Update Technical Report for Malku Khota by Allan Armitage, Ph.D., P.Geo, of
GeoVector Management Inc.
1) The resource cut-off grade of 10 g/t silver equivalent is based only on the values of silver at $16/oz and indium at $550/kg.
2) The silver equivalent calculation uses base case metal pricing ( Ag at $18/oz, In at $500/kg , Ga at $500/kg, Cu at $3/lb, Pb at $0.90/lb, and Zn at $0.90).
ESCALONES In Situ Grade Total Contained Metal
Approx. 0.2% Cu Cutoff3 Cu Au Ag Mo Cu Eq4 Cu Au Ag Mo Cu Eq4
Resource Tonnes % g/t g/t ppm % Mlbs Ozs Moz Mlbs Mlbs
Category Millions
Inferred 420.6 0.41 0.05 1.24 61.39 0.49 3,835 610,160 16.8 56.9 4,503
Mineral resources in the above table are as reported in the Dec 19 2011 Press Release using estimates prepared by Allan Armitage, Ph.D., P.Geo, and J. Campbell, BSc, PGeo of GeoVector Management Inc.
3) An economic cut-off grade of 0.2% copper equivalent represents a metal price of approximately $2.50/lb copper.
4) Copper Equivalent (Cu Eq %) calculations use $3.00/lb Cu, $1200/oz Au, $22/oz Ag, and $16/lb Mo and have not been adjusted for metallurgical recoveries
TOTAL RESOURCES Total Contained Metal - Malku Khota and Escalones Combined
Ag Au Ag Eq5 In Ga In + Ga Cu Pb Zn Moly Cu Eq6
Resource Moz Kozs Moz tonnes tonnes tonnes Mlbs Mlbs Mlbs Mlbs Mlbs
Category
M&I 230.28 230.3 1,481.00 1,082.0 2,563.0 120.3 453 247 330
Inferred 156.83 610.16 190.11 935.00 1001.00 1936.00 3937.02 362.16 246.15 56.87 4,423
5) Ag Eq is calculated using total silver and gold contained metals at $1200/oz Au and $22/oz Ag
6) Cu Eq is calculated using total Cu, Pb, Zn, and Mo contained metals at $3/lb (Cu), $0.90/lb (Pb), $0.90/lb (Zn) and $16/lb (Mo).
41

42. Relative Stock Performance
SAC vs. key silver & gold indices
SAC
Producer and Explorer/Developer
Equities Peak December 2010 Silver price peak Gold Price Peak
Silver Producers peak Correction in Explorer/Developers
Accelerates into the end of the year
TSX:SAC
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US OTC:SOHAF

43. Relative performance of Gold/Silver and the
Producer/Development stage equity indices
Explorer/Developers and Producer Equities undervalued relative to metals Gold Price Peak
Silver price peak
Producer and Explorer/Developer
Equities Peak December 2010
Historically, metals and
miners move together
Correction in Explorer/Developers
Accelerates into the end of the year
Potential value gain to equities
to catch up with metals prices
TSX:SAC
43
US OTC:SOHAF

44. Long Term Silver Ratios with Copper & Gold
Traditional benchmarks being challenged
Silver showing
relative strength
Source: 1) Ian McAvity‘s Deliberations On World
Markets, May 4 2011 44

45. Criticality Index for Clean Energy/Technology Development
Showing Forecast Supply Shortages of Most Important Metals
Short Term (0-5 Years) Long Term (5-15 Years)
high
high
4 Dy 4 Nd Dy
to clean energy
to clean energy
Ce La In Nd Tb In
Importance
Importance
Ga Ga Eu Y Tb
3 Te Eu Y 3 Li Te
Ce Co
Li Co Pr
2 2 La Pr
Sm Sm
low
low
1 1
1 2 3 4 1 2 3 4
low Supply Risk high low Supply Risk high
Important Near Critical Critical
Sources: (1) US Dept. of Energy Critical Materials Strategy,
Dec. 2010. 45

46. Indium Supply
Mine Production and Refining
Indium Mine Production Indium Refining
Peru, 1%
Russia, 3%
Others, 6%
Germany, 3
%
China China
Peru S.Korea
Other
Countries, 23 BLEU, 6% Canada
% Canada
China, 45% Japan, 8% Japan
Mexico, 3% Australia China, 52%
BLEU
USA, 4% USA
Canada, 8%
Germany
Mexico
S.Korea, 13 Russia
Other %
Peru, 9% Countries Peru
Australia, 6%
Others
Canada, 9%
Source: 1)Roskill ‗s Indium: Global Industry Markets and
Outlook ,2010 46
BLEU: Belgium, Luxembourg Economic Union

47. Management & Directors Ralph Fitch (Executive Chairman) is an explorationist with over 40
years of global experience, a co-founder of South American Silver and
Greg Johnson (President/CEO & Director) has over 25 years mining former Chief Geologist for Chevron Minerals credited with several
industry experience in corporate finance, project development and major discoveries in South America.
exploration. A s a co-founder of NovaGold, he played a key role in Antonio Canton (Director) is consultant and director to a number of
growing that company from $50 million in value to over $2 billion market international companies in marketing, finance and real estate.
capitalization advancing 3 major projects through to Feasibility. Tony Cau (Director) is COO at Zamin Ferrous. With over 30 years of
Phillip Brodie-Hall (Chief Operating Officer) has over 35 years experience experience in the mining, construction and heavy manufacturing
in engineering construction and project development. He has participated in industries, he has been involved in mine development and expansion
nearly every aspect of evaluation, feasibility studies and project projects around the world for groups like BHP, SNC-Lavalin, and
development in the mining industry. Bateman Engineering.
William Filtness (Chief Financial Officer) is a Chartered Accountant with Jeffrey Couch (Director) is the Managing Director and Head of
over 20 years of financial experience in the mining industry. Investment & Corporate Banking, Europe and London for BMO
David Dreisinger (Vice President of Metallurgy) is Professor and Industrial Capital Markets. He has held various financial and business
Research Chair in Hydrometallurgy at the University of British Columbia. development positions and has extensive investment banking and
He is actively involved in developing and commercializing capital markets experience with groups such as Credit
hydrometallurgical process at a number of mines worldwide. Suisse, Citigroup, and Klienwort Benson.
Felipe Malbran (Vice President of Exploration) has over 25 years Paul Haber (Director) is a Chartered Accountant and a Certified Public
experience in exploration management in South America including key Accountant, and previously CFO of a TSX-V company and Chairman
roles in the discovery of Malku Khota, Vizcachitas, and Escalones. of the Audit Committee for South American Silver.
James Mallory (Vice President of Operations & Social Responsibility) Peter Harris (Director) is a mining engineer with over 40 years of
has over 30 years of mining industry experience in large-scale mine industry experience including construction and operation of over 20
management, operations and construction for companies including Barrick mines around the world with groups such as Barrick (Placer Dome)
(Placer Dome), Silver Standard, and NovaGold. and NovaGold.
Andrew Clark (Manager of Project Implementation) has over 30 years William Murray (Director) is an engineer in the mining industry with
global industry experience in the development, design, management and over 35 years of experience in construction management and project
construction of industrial mining projects. evaluation with groups including Fluor Daniel, Denison
Richard Doran, (Vice President & Corporate Secretary) has extensive Mines, Optimum Project Services and Anglo American Corp.
industry experience including with General Minerals and as Marketing John Watson (Director) is President of a TSX -V listed company and
Manager for Chevron Minerals. Manager of a limited liability corporation in commercial real-estate.
Xavier Gonzales Yutronic (General Manager Compañía Minera Malku Tina Woodside (Director) is the head of Gowlings’ corporate finance
Khota S.A.) has experience in management, finance, and community department and practices corporate and securities law focused on
relations in the mining industry including with Glencore, and Comsur S.A. corporate finance, M&A and corporate governance matters.
TSX:SAC
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