National Instrument 43-101 Disclosure
National Instrument 43-101, Standards of Disclosure for Mineral Projects, is a rule developed by the Canadian Securities Administrators and applicable throughout Canada, which establishes standards for all public disclosure a company makes of scientific and technical information concerning mineral projects. IMPACT Silver Corp. adheres to the NI 43-101 standards, which require disclosure of the following information related to its mining and exploration projects.
George Gorzynski, P. Eng., a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical information in the Royal Mines of Zacualpan and Capire-Mamatla (except for the Capire project mineral resource estimate).
Steven Ristorcelli, C.P.G. (U.S.A.), Principal Geologist for Mine Development Associates and a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the Capire project mineral resource estimate and directly related information.
Royal Mines of Zacualpan Mining Operations Statement
Since acquiring the Royal Mines of Zacualpan project in 2006, IMPACT technical teams have discovered, drilled and placed into production a number of new mines. Mines on epithermal veins that were discovered and built by IMPACT staff since 2006 include the Cuchara-Oscar Silver Mine (currently in operation), San Ramon Deeps Silver Mine (currently in operation), Mirasol Silver Mine (currently in operation), Carlos Pacheco Gold-Copper Mine (on care and maintenance), Chivo Silver Mine (operated 2007-2012) and the Noche Buena Silver Mine (operated 2010-2014) as well as the Capire VMS open pit mine (on care and maintenance in the adjacent Mamatla District). The Company issued news releases, Management Discussions and Analyses and other public disclosures describing production decisions for each of these mines at the time.
Each of these public disclosures should have included the following Cautionary Statement:
"The Company's decision to place a mine into production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports based on exploration, development and mining work by the Company's geologists and engineers. The results of this work are evident in the discovery and building of multiple mines for the Company, and in the track record of mineral production and financial returns of the Company since 2006. Under NI43-101 the Company is required to disclose that it has not based its production decisions on NI43-101-compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically such projects have increased uncertainty and risk of failure."