This document summarizes South American Silver Corp., which is focused on developing two large-scale mining projects in South America. The company's flagship project is the Malku Khota silver-indium project in Bolivia, which hosts one of the world's largest silver-indium resources. The project is undergoing pre-feasibility and feasibility studies. The company's other project is the Escalones copper-gold-silver project in Chile, which has an inferred resource of over 3 billion pounds of copper. The company aims to become a top primary silver and indium producer globally from its Malku Khota project.

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
May 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
• Potential to be one of the worlds top producing
silver and indium mines
• Resource expansion potential with only 4 km of a
15 km trend drill tested on the 50 sq km property
Total Contained Metal
Silver Indium Gallium Aq Eq1
Moz Tonnes Tonnes Moz
M&I 230 1,481 1,082 354
Inferred 140 935 1,001 240
In Situ Grade
Tonnes Silver Indium Gallium Aq Eq1
Millions g/t g/t g/t g/t
M&I 255 28.10 5.8 4.3 43.77
Inferred 230 18.9 4.1 4.3 33.04
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. Emerging Opportunity for Mining in Bolivia
A developing resource based economy
• Bolivia has been undergoing significant change over
the past 6 years under the Morales administration
including a new constitution with indigenous rights
• The Andean social movement toward greater local
and indigenous autonomy is well developed in Bolivia
• Local indigenous support is the key to project success
• Mining is Bolivia’s second largest economic sector
after Oil/Gas and is seen as a fundamental industry
• Three major silver mines have been built within last
5 years under the current administration by Sumitomo’s San Cristobal mine: 3rd largest silver
Pan American Silver, Coeur D’Alene and Sumitomo mine and 6th largest zinc mine in the world *
• South American Silver’s management team has • SAC is seeing strong local support from
nearly 20 yrs experience in Bolivia the Coalition of the local land owning
• Bolivian government has expressed support for indigenous Allyus
SAC’s projects and their strong interest in • Coalition lobbying on behalf of the project
encouraging private investment in the mining sector with National and Provincial government
*Image from : Sumitomo Metals and Mining
http://www.sumitomocorp.co.jp/english/special/project_04/index.html 6

7. Community Relations
A key to successful project development
• Programs modeled after success at Sumitomo’s San Cristobal
mine and Newmont’s Inti Raymi mines in Bolivia
• Impact & Benefit agreements in place with land owning Allyus
 Scholarships/ Contributions to local schools
 Support for community health initiatives
 Involvement of the community in environmental monitoring
 Exploration related job training with local communities
 Promotion of traditional and cultural activities
• Instituting animal health initiatives to improve local economy
which is based on subsistence farming and herding
 Vaccination program and veterinary treatment of herd animals
 Breeding program to improve herd quality and productivity
• Working with local indigenous communities to facilitate
economic and business development related to project
services and support
TSX:SAC
US OTC:SOHAF 7

8. Share Capitalization
TSX:SAC, US OTC:SOHAF
Issued &
Outstanding Options1 Warrants2 Fully Diluted3
114.6M 10.3M 8.2M 133.1M
• ~$200 million I/O and in-the-money Market Capitalization(4)(5)
• Average 3 mo. trading volume 150,000 shares/day
• ~$38 million in cash(6) South American Silver
Asian Technology Strategic Investment Investor Breakdown
• High technology materials manufacturers and
Indium/Gallium end users from Taiwan, Hong Management
Kong, Korea, and Japan 8% 9%
Asian Technology Groups
27%
Private Equity Ownership
8% Zamin Private Equity
• Zamin (UK)
• Izurium (UK) 8% Izurium Private Equity
Largest Institutional Ownership 22% Private Investors
• Sprott Asset Management 18%
Institutional
• Front Street
• US Global Retail
(1) Weighted avg .exercise price $1.20 CAD (2) Weighted avg.
exercise price $1.76 (3) As of April 30 2012 (4) As of April 26, 2012
(5) Issued and 123.2 M outstanding shares+ in the money warrants 8
and options (6) As of April 30, 2012

9. Adding Value Through Resource Growth
Total resources with value shown relative to silver
Ag Moz In+Ga tonnes Cu Mlbs
Ag Eq Inferred Resource (Ag+Au only) 8 Oz Ag
450 6000
Ag Eq M&I Resource (Ag+Au only) Eq/share
400 4 Oz Ag
In & Ga Inferred Resource (In+Ga only)
Eq/share
5000
In & Ga M&I Resource (In+Ga only)
Tonnes of Indium and Gallium2 (combined)
350
Million Pounds of Copper Equivalent3
Million Ounces of Silver Equivalent1/
Cu Eq Inferred Resource (Cu+Pb+Zn only)
300 Cu Eq M&I Resource (Cu+Pb+Zn only) 4000
$36 M
250
Financing
3000
$3 M
200 6000 Financing
150 4500 2000
2 Oz Ag
100 3000 Eq/share
1000
50 1500
IPO $20 M
0 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 9
($0.90/lb), and molybdenum ($16/lb) only

10. Comparative Silver Resources in the Americas
One of the largest development stage silver resources
500
450
Millions of Silver Ounces
400
M&I Resources
Additional value
350
of Indium and Gallium
Inferred Resources
300
250
200
150
100
50
0
Silvercrest US Gold Sulliden MAG Silver Orko Golden Wildcat Tahoe So.American Levon Bear Creek
Minerals Resources Silver
Mexico
location Mexico Mexico Peru Mexico Mexico Mexico Guatemala Bolivia /Chile Mexico Peru
Peru
Avg Mine Grade
89.5 65 13 538 125 182 72 383 58 19 38
(g/t)
Open Pit
Mining Method OP/UG OP OP UG OP/UG UG OP UG OP OP
Heap Leach
Source: BMO Capital Markets,Canaccord and Intierra, for silver only
Note: All companies have projects in South and/or North America
10

11. Enterprise Value per Silver Resource Oz
By project development stage
$14.00 Advanced Development
Stage Average ~$4/oz
$12.00
EV of >$0.64 based on 230.3 million M&I oz Ag
$10.00
$8.00 Development Stage
Average ~$2/oz
$6.00
$4.00
$2.00
$0.00
South
So.American Golden Minerals Orko Tahoe Resources MAG Silver Aurcana International US Silver Corp
Silver
American Minerals
Silver
Corp.
Source: Canaccord and Intierra,
Share prices as of March 22 2012
Note: All companies have projects in South and/or North 11
America as shown on slide 11

12. 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 common
at this stage Construct $9/oz
Increased value
through resource Permits
Increasing Market Value
expansion FS
Malku Khota
Project
2x-3x potential
PFS $4/oz Increase in
Escalones
Project Market cap
PEA
Resource
Definition
2x-5x potential
$2/oz Increase in
Market cap
Discovery Increasing value with project advancement
Early Stage Advanced Production
Exploration & Development Stage
Development (Reserves)
Source: Recent average enterprise value per ounce of silver at
various development stages for North and South American-based
projects. Canaccord, BMO Capital markets and Intierra
12

13. Current Silver Company Market Valuations
by Resource Size & Development Stage
Size of circle represents market valuation premium in EV/oz
Developers Adv. Developers Producers
Silver Standard Allied Nevada
MK Value at Avg Valuation
for each development stage Pan American Silver
1000
2012 Coeur d'Alene
Total Resource Size (Moz's)
South American Silver 2011
Malku Khota PEA PFS/FS Production
Bear Creek
500 Current Value First Majestic
MK MK Tahoe
MK
Silvermex
Hecla
MAG
Orko Hochschild
100
Silver Crest
Arian Extorre
Endeavour
Troy
Great Panther
Alexco
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 and Intierra,
Share prices as of May09 2012 13
Note: All companies have projects in South and/or North America

14. 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
• High levels of investment demand and industrial/technology demand continued in 2011
• Total annual mine production grew only 1.4% last year with a drop in primary silver
production and reduced contribution of by-product silver from copper mining
• Projected mine supply based on planned projects and declining production from many
existing mines anticipated to move into future shortfall vs consumption for technology
and other industrial use over the next several years
• Few major new deposit discoveries and growing time lag from time of discovery
to metal production are significant constraints to new supply
Source: 1) GFMS World Silver Survey 2012
2) Byron Capital Markets Equity Research February 2012 14

15. Silver Supply/Demand Fundamentals
• 8 of the top 15 silver producers declined in production in 2011 vs. 2010(1)
• Top two Ag producers dropped by 11 million ounces with global production up only 1.4%
• Demand growth expected to continue to outstrip production growth(2)
World Silver Supply World Silver Demand
Industrial Applications
1200 Mine production 1200 Photography
Secondary Supply and Scrap
Jewelry and Silverware
Government Sales
Investment and Coins
1000 1000 Investment
demand
800 800
Million Ounces
Million Ounces
+1.4% mine
production
600 600
400 400
Industrial
demand
200 200
0 0
Source: 1) GFMS World Silver Survey 2012
2) BMO Capital Markets Global Mining Research April 2011 15

16. Growing Demand for Silver in Technology
Breakdown of key technology/industrial uses for silver
500 20 Moz/yr Avg technology
Ag consumption increase
Photovoltaic over last 10 years
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
16

17. 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 40
Lead/Zinc Primary
35
250 Copper Gold
Silver Price 30
Millions of Ounces of Silver
200
Silver Price (US$)
25
150 20
15
100
10
50
5
0 0
2003 2004 2005 2006 2007 2008 2009 2010 2011
Source: 1) GFMS World Silver Survey 2005-2012
2) BMO Capital Markets Global Mining Research April 2011 17

18. 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
18

19. 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
• Mainland China is estimated to control 60-70% of the global indium market through
mining and as a by-product of smelting zinc
• China is the largest consumer of indium and has imposed export quotas and tariffs
like on other key high-technology specialty metals such as heavy rare earths
• 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 ~$600-700/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 19
Report on Strategic Metals ,May 2011 .

20. Indium Supply
Mine production by country
400
350
Mainland China estimated to control
300 60-70% of the global indium market
Tonnes of Indium
250 through mining and smelting
200
150
100
50
0
Mexico USA Australia Canada Peru Bolivia China
• Bolivia is the second largest producer of indium outside of mainland China
• 60% of Indium consumption in 2011 from Japan
USGS Mineral Commodity Summaries, January 2012
Roskill Indium report 2010
Other company reports 2011 20

21. 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 21
Energy Critical Minerals Strategy Report December 2010

22. Indium Fundamentals
World indium demand vs price (1969-2011*)
2500 2000
1800
US Dept of Energy
Projections
Indium Price/kg ($US)
2000 1600
Demand
1400
Indium Demand
Price Recent Indium Price
1500 1200
1000
1000 X 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

23. Silver and Indium Mining in Bolivia
One of the world’s premier silver and indium mining districts
• One of the world’s largest historical producing
regions with billions of ounces silver
• Highly prospective & under-explored relative
to other parts of the Andean region
Coliquiri
Glencore/Xtrata
• 8 major mines since 2005:
Glencore/Xtrata – Sinchi Wayra Mines 2005
• 5 mines – Comibol JV’s and 100% private
Poopo
Sumitomo - San Cristobal Mine 2007 Glencore/Xtrata
• 100% Sumitomo private ownership Porco
Glencore/Xtrata
• World’s 3rd largest silver mine (19.4 Moz/yr),
Bolivar
6th largest zinc mine with significant indium Glencore/Xtrata
Coeur D’Alene - San Bartolome 2008
• JV with State Mining Company Comibol
• CDE’s second largest mine at 7.5 Moz/yr
Pan American Silver – San Vicente 2009
• 50%-50% JV with Comibol
• 4th largest mine for PAAS at 3.1 Moz/yr
South American Silver – Malku Khota
• 100% SAC private ownership
• Positioned to be next major mine in Bolivia
Sources: Company reports and CPM 2011 Silver Yearbook
23

24. 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)
24
4) Economic cut-off grade comprised only of silver and indium

25. 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
25

26. Malku Khota Drilling
Grade thickness map
• 115 drill holes in current resource with OPEN
updated resource 2011
• Updated resource results increase total
Measured and Indicated oz to 230 Moz
Ag (a 60% increase in M&I oz) plus an Mineralized
additional 140 M inferred Ag oz Sandstones
• 2012 program to target conversion of in
pit inferred resources to M&I resources
and & test lateral and depth expansion OPEN
• Wide zones of disseminated, sediment
hosted mineralization begins at surface
with 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
26
US OTC:SOHAF

27. 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
27
US OTC:SOHAF

28. 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 confirmatory metallurgical test work Leaching
with SGS 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
28
US OTC:SOHAF

29. Malku Khota Economic June 2012
Updated Economic Assessment Anticipated
Assessment, May 20111
Development Capex $411 million Metal Prices ($US)4
Mining Rate 40,000 tpd Heap Leach Base Case Mid Case Recent
Life of Mine 15 years (3 yr avg) (2 yr avg) (1 yr avg)
Ore Mined (LOM)2 200 M tonnes Silver : $18/oz $25/oz $35/oz
Average Silver Grade 3 42.4 g/t Indium : $500/kg $570/kg $650/kg
Average Indium Grade3 7.55 g/t Gallium: $500/kg $570/kg $730/kg
Ag Eq grade 58 g/t
First LOM Share of Gross Revenue
Total
Recovered Metals
Silver (oz)
5 years Annual
(at base case prices)
158 M 13.2 M 10.5 M
Indium (tonnes) 1,184 80.7 Silver
5% 3%
78.9
Lead (lbs) 191 M 12.48 M 12.7 M
Zinc (lbs) 6%
135 M 4.42 M 9M Indium &
Copper (lbs) 88 M 5.64 M 5.87 M Gallium
Gallium (kgs) 212,962 15,184 14,198 Copper
Base Case Mid Case Recent
15%
First 5 years cash flow $185 M/yr $287 M/yr $430 M/yr
Net cash flow
Lead
$1,261 M $2,528 M $4,298 M 71%
NPV (5% discount rate)1 $704 M $1482 M $2571 M
Internal Rate of Return 37.7% 63% 92.9% Zinc
Payback period (years) 27 months 19 months 15 months
(1)In US dollars (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 29
(avg/yr)

30. Actual/Anticipated Annual Ag Production (Moz)
10.0
15.0
20.0
25.0
30.0
35.0
40.0
0.0
5.0
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
30
Bear Creek Mining
Hochschild
Polymetal MNPO
Xtrata
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

31. Global Silver Industry Cash Cost Curve
High quality long-life, low-cost silver production
Cumulative Percentile of Silver Mine Production Cost
Total Cash Cost Per Ounce of Silver
Lowest 25% Percentile
Cash Costs
Malku Khota
Estimated Production Cost
Industry Average
Cash Cost
$7.25/oz
Source: GFMS World Silver Survey 2012
(1) Avg first 5 years of production (2) Silver cash costs after credits ($US)/oz
(3) 3 year average price: Ag $18, In $500, Ga $500, Cu $3, Pb $0.90, Zn $0.90 31
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

32. 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
32

33. 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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34. 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 Pending 2012 Holes
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35. 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
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36. 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 2.1 cents/lb 2.7 cents/lb 10.4 cents/lb
100000
Northern Dynasty
Total Resource Size (Mlbs Cu)
Escalones Value at Avg Valuation
for each development stage
Quadra FNX
Western Copper Taseko
Imperial
Nevada
NGEx
Candente Lumina
10000
Augusta Capstone
Hana PFS/FS
Copper Fox
Panoro
ESC ESC ESC Production
Copper Mountain
Redhawk
Escalones
Current Stage
1000
$50 $100 $300 $500 $1000 $2000
Enterprise Value (US$ Millions)
Source: Canaccord Report Jan 2012 using Cu Eq
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
Exploration program underway to support a planned 20,000 meters of in-fill
and expansion drilling
• 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 completed
Initial resource estimate completed
Phase II exploration program underway to support a planned 7,000 meters of
drilling
• 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
Average value of silver ~$16 of silver per $1 invested*
30
20
10
0
Silver ETF Alexco Tahoe Sulliden MAG Silver Orko Silvercrest Golden Silver Bear Creek So.American
South American
Resources Minerals Standard Silver Corp.
Silver
Source: Canaccord as of January 24, 2012, Share prices updated Feb 2 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
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41. Emerging Opportunity for Mining in Bolivia
Economic Trends
• World Bank/IMF supportive of economic policy GDP % Output Growth 3yr avg
6.0
changes resulting in one of the fastest growing
economies in South America over past 3 years 5.0
• Bolivia has joined the Mercosur trade organization 4.0
with Brazil as largest regional trading partner 3.0
• Political relations with U.S. have been normalized
2.0
• Moody’s & Fitch sovereign bond ratings upgraded
1.0
• Strong emphasis by government on poverty
reduction, through economic development, and 0.0
anti-corruption
Foreign investment highlights
• Kores of S.Korea to invest in Corocoro copper
project Bolivia’s emerging resource based economy
S
• Recent announced investments by Citic of China • Three major silver mines built within last five
and LG/Posco of S.Korea to develop major lithium years by Pan American Silver, Coeur D’Alene
projects and Sumitomo
• Petrobras of Brazil—Latin America’s largest • Planned $32 billion 5-7 year infrastructure
publicly traded oil company – investing US$1B of build-out by Bolivian government to support
new capital into the Bolivian gas fields
resource industry
• Repsol of Spain investing $1.6 billion to increase • One of the world’s premier silver districts with
gas production in Bolivia billions of ounces of silver production
• Petrobras and Repsol announced new exploration • Mining second largest economic sector
initiatives in Bolivia in early 2011
* Chart source: IMF Western Hemisphere Report Fall 2011
41

42. 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).
42

43. Relative Stock Performance
SAC vs. key silver & gold indices
SAC
Gold Price Peak
Producer and
Explorer/Developer Silver price peak
Equities Peak
December 2010
Silver Producers peak
Correction in Explorer/Developers
Accelerates into the end of the year
TSX:SAC
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44. 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
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45. 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 45

46. 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. 46

47. Management
Greg Johnson - President &CEO & 25 years mining industry experience in corporate finance, project development and exploration.
Director Co-founder of NovaGold; played a key role in growing that company from $50 million in value
to over $2 billion market capitalization, advanced 3 major projects through to Feasibility.
Ralph Fitch -Executive Chairman Explorationist with Over 40 years of global experience, a co-founder of South American Silver
Former Chief Geologist for Chevron Minerals. Several major discoveries in South America
Phillip Brodie-Hall -Chief Operating Over 35 years experience in engineering construction and project development. He has
Officer participated in nearly every aspect of evaluation, feasibility studies and project development in
the mining industry.
William Filtness -Chief Financial Officer Chartered Accountant with over 20 years of financial experience in the mining industry.
David Dreisinger -Vice President of Professor and Industrial Research Chair in Hydrometallurgy at the University of British
Metallurgy Columbia. He is actively involved in developing and commercializing hydrometallurgical
process at a number of mines worldwide.
Felipe Malbran - Vice President of Over 25 years experience in exploration management in South America including key roles in
Exploration the discovery of Malku Khota, Vizcachitas, and Escalones.
James Mallory -Vice President of Over 30 years of mining industry experience in large-scale mine management, operations and
Operations & Social Responsibility construction for companies including Barrick (Placer Dome), Silver Standard, and NovaGold.
Andrew Clark -Manager of Project Over 30 years global industry experience in the development, design, management and
Implementation construction of industrial mining projects.
Richard Doran -Vice President & Extensive industry experience including with General Minerals and as Marketing Manager for
Corporate Secretary Chevron Minerals.
Xavier Gonzales Yutronic -General Experience in management, finance, and community relations in the mining industry including
Manager Compañía Minera Malku Khota with Glencore, and Comsur S.A.
S.A.
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48. Directors
Ralph Fitch - Executive Chairman Explorationist with Over 40 years of global experience, a co-founder of South American Silver
Former Chief Geologist for Chevron Minerals. Several major discoveries in South America
Antonio Canton Consultant and director to a number of international companies in marketing, finance and real
estate.
Paul Haber 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 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.
Greg Johnson – President & CEO 25 years mining industry experience in corporate finance, project development and exploration.
Co-founder of NovaGold; played a key role in growing that company from $50 million in value
to over $2 billion market capitalization, advanced 3 major projects through to Feasibility.
William Murray 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 President of a TSX -V listed company and Manager of a limited liability corporation in
commercial real-estate.
Tina Woodside Head of Gowlings’ corporate finance department and practices corporate and securities law
focused on corporate finance, M&A and corporate governance matters.
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