SilverCrest Metals : 2023 Las Chispas Site Visit

Las Chispas Site Visit

October 2023

Cautionary Statements

Forward-looking statements

This presentation contains "forward-looking statements" and "forward-looking information" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. These include, without limitation, statements with respect to: the timing and amount of expected production from the Las Chispas Operation; the estimation of mine life, mining rates, Mineral Reserves and Mineral Resources, the metallurgical recovery rates, grade, production rate, the costs, and the cash flow generation; the strategic plans, timing and expectations for the Company's current and future development and exploration plans, including but not limited to the planned target areas and the potential to convert any portion of the Inferred Mineral Resource to economically viable Mineral Reserves; key considerations for capital allocation; and environmental, social and governance objectives and targets. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: present and future business strategies, continued commercial operations at Las Chispas, the environment in which the Company will operate in the future, including the price of gold and silver, estimates of capital and operating costs, production estimates, estimates of Mineral Resources and Mineral Reserves and metallurgical recoveries and mining operational risk; the reliability of Mineral Resource and Mineral Reserve Estimates, mining and development costs, the conditions in general economic and financial markets; availability of skilled labour; timing and amount of expenditures related to exp loration programs;effects of regulation by governmental agencies and changes in Mexican mining legislation. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: changes in production and cost guidance; the timing and content of work programs; results of exploration, development and mining activities; risks and hazards of mineral exploration, development and mining activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses; fluctuations in gold and silver prices and general market and industry conditions, as well as those factors described in the section "Risk Factors" in SilverCrest's most recently filed Annual Information Form/40F filed with the Canadian securities regulatory authorities and the SEC. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this presentation if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Cautionary Note to US Investors

This presentation includes Mineral Resource and Mineral Reserve classification terms that comply with reporting standards in Canada and the Mineral Resource and Mineral Reserve Estimates are made in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the United States Securities and Exchange Commission (the "SEC") applicable to domestic United States reporting companies. Consequently, Mineral Resource and Mineral Reserve information included in this presentation may not be comparable to similar information that would generally be disclosed by United States domestic reporting companies subject to the reporting and disclosure requirements of the SEC. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with US standards.

Non-IFRS Measures

SilverCrest uses certain performance measures that are not defined under International Financial Reporting Standards ("IFRS") in this presentation. Non-IFRS financial measures are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other companies. Non-IFRS measures do not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, management and certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For further information on explanations and reconciliations of Non-IFRS measures for Cash costs, AISC and net free cash flow, refer to the Non-IFRS Measures section of the Company's Management's Discussion & Analysis ("MD&A") for the six months ending June 30, 2023, dated August 9, 2023, beginning on page 16. Cash costs and cash costs/oz AgEq - The Company uses cash costs per silver equivalent ounce payable to monitor its operating performance internally. The most directly comparable measure prepared in accordance with IFRS is cost of sales. AISC and AISC/oz AgEq payable - This Non-IFRS financial measure aims to assist readers in evaluating the total cost of producing silver from its operation. The most directly comparable measure prepared in accordance with IFRS is cost of sales. In comparison to Non-IFRS financial measure disclosure in the Company' MD&A, AISC/oz in this presentation is based on AgEq oz payable, as opposed to AgEq oz sold. Net free cash flow - The Company believes that this measure provides valuable assistance to investors and analysts in evaluating the Company's ability to generate cash flow after capital investments and build the cash resources of the Company. The most directly comparable measure prepared in accordance with IFRS is net cash provided by operating activities less net cash used in investing activities. In comparison to Non-IFRS financial measure disclosure in the Company' MD&A, Cash cost, AISC and net free cash flow excludes but not limited to corporate general and administrative expenses, exploration expenses and share-based payments. $/t milled metric - is calculated by dividing the approximate total costs of operation (Mine, Plant and Site) by the number of tonnes processed in any period.

Qualified Person

Under NI 43-101, the Qualified Person for this presentation is N. Eric Fier, CPG, P.Eng. and CEO for SilverCrest Metals Inc., who has reviewed and approved its contents.

Terms of Reference

2023 Updated Technical Report (or "2023 TR") - The technical report titled "Las Chispas Operation Technical Report" dated September 5, 2023 with an effective date of July 19, 2023 prepared by Ausenco Engineering Canada Inc., available on the Company's profile on SEDAR + on www.sedarplus.ca. 2021 Feasibility Study (or "2021 FS") - The technical report titled "Technical Report & Feasibility Study on the Las Chispas Project, Sonora, Mexico", with an effective date January 4, 2021 and prepared by Ausenco Engineering Canada Inc., is available under the Company's profile on SEDAR on www.sedar.com. With the 2023 TR, the 2021 FS is no longer current, not supported by the 2023 TR results and therefore cannot be relied upon. Silver Equivalent ("AgEq") is based on an Ag:Au ratio of 79.51:1 calculated using $1,650/oz Au and $21/oz Ag, with average metallurgical recoveries of 97.9% Au and 96.7% Ag and 99.9% payable for both Au and Ag. This ratio is applied throughout this presentation to Mineral Resources and Mineral Reserves, production and AISC per oz. Base Case metal prices used in this analysis are $1,800/Au oz and $23/Ag oz. US$ Basis - all references to $ are US dollar denominated unless otherwise noted.

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High-Quality, Strategic, Producer

100% Precious

Metals

Lowest Quartile Silver Equivalent

AISCh(2)(3)

Capital Allocation

Flexibility

10 Moz AgEq/yr	2023 corporate AISC	Positioned for growth,
guidance of
production profile (1)	share buybacks,
$12.75 - $13.75/oz
	holding metal
	AgEq

Note: Please review sections titled "Forward-looking statements" and "2023 Updated Technical Report" on slide 2 which covers the Company's Cautionary Statements
(1) For first seven full years of production (2) vs Silver peers for 2023 per Company Reports, S&P Global Market Intelligence, FactSet and Analyst Estimates; Silver peers includes Aya Gold & Silver, Coeur, Endeavour Silver, First Majestic, Fresnillo, Fortuna,	4
Gatos, Hecla, MAG, Pan American and Silvercorp (3) Non-IFRS Measure. Please refer to "Non-IFRS Measures" on slide 2 "Cautionary Statements".

Las Chispas

Las Chispas ~3800 hectares owned

1,400 hectares of concessions ~3 hr drive from Hermosillo Major mining center in Mexico

Access to site via paved road and all-season

bridge over Sonora River

99.7% Mexican National Employees

339 Employees

583 Contractors (1)

15+ years in region

Member of local ranching association

7 years from acquisition to production

45% Gold

55% Silver

Community Population

Arizpe: 2,200

Banamichi: 1,800

Warm and dry climate

Temperatures of 15 - 33°C Rainy season June - October

(1) See SilverCrest 2022 ESG Report

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Operations

Las Chispas Map

Looking South West

Waste Storage Facility

Babi Central Portal

Tailing Storage

Facility

Main Gate Entrance

Santa Rosa Portal	CRF Plant
Back Up Generators	Stockpiles

Warehouse

Main Offices

• Waste Rock Storage #2

Top Soil storage

Camp

Las Chispas Portal

CCD-MC Process plant

		Dry-Stacked Tailing Storage Facility
Nursery

Surface Maintenance Shop

Underground

Contractor Offices

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Surface Infrastructure - Power, Water, Tailings (TSF)

Water

Inflows (~ 12 l/s)

Underground (~3 l/s)

Fresh Water Sonora Valley (~10 l/s)

LOM Outflows - zero discharge

(~8-10 l/s)

Power

Connected to national grid

33 kV line with contracted power

demand of 7.65 MW

Availability averaging 97%

TSF

Filter-presseddry-stacked TSF

Two facilities with total capacity of 4 Mt Phase 1 - Constructed - ~350 kt contained Phase 2 - Construction in 2024

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Operations - Timeline

Mine Operations			Commercial Production
		Start Plant
	BAM Discovery	Start Ore Development	Start UG Stoping	Debt Free
First Drillhole
	Start Plant Construction	Today
Project Acquisition	Operating Permit	End LOM
	Exploration & Permitting	Construction & Pre-Production	Operations
		Development

Initial Resource TR

Released

Technical Reporting

PEA	Released	FS Reserve	and TR
		Released
		Effective Date	Updated TR
		Resource M&I	Released
			Reserve P&P
			Start Date of TR	Updated TR
			Announced
			Financial Model
			Effective Date
			INF Resource

2023 Technical Study & Reporting Period

Run of Mine stockpile under construction since June 2019

Commercial Production within 3 months of Plant Start-up, Debt Free in under 7 months following Commercial Production

2023 Updated Technical Report captures one year of full mine and plant operational data

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Operations - Health and Safety

2023 Target	2022 Actual
LTIFR 0.4	LTIFR 0.62
TRIFR 3.5	TRIFR 4.33

per 200,000 working hours (1)

Visible leadership program implemented

Emergency Response training and rescue team constantly training

PASST certification process underway

Identified opportunities and reinforcing safety programs with professional safety consultants and auditors

740 employees and contractors trained on safety leadership program "Prometimos Volver"

(1) See SilverCrest 2022 ESG Report

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Operations LOM Objectives

Mine Ramp Up

(Now - YE2025)

Continue building site Safety Culture - Prometimos Volver

Increase mine production from average of 800 tpd in H2, 2023 to 1,200 tpd by Q1, 2026

Access mining areas - increase development rate from 35 mpd to 43 mpd by Q1, 2024 into 2026 Leverage longhole production to achieve 1,200 tpd by start of 2026

Stable Production

(Now -2030)

Produce average of ~10 million oz AgEq per year over LOM Maintain average plant production of 1,200 tpd

Utilize stockpile as a strategic asset

Continue building geological model knowledge (Reserve Depletion Reconciliation to Plant) Mine exploration to focus on inferred conversion and reserve replacement

Mine planning to investigate optimization opportunities; cost reduction and ounce addition

Note: Please review slide 2 which covers the Company's Cautionary Statements.

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