Unico Silver Ltd.

Unico Silver Ltd. is a junior silver exploration company headquartered in South Melbourne, Australia, operating primarily in South America. The company's portfolio consists of 2 development projects. Key assets include Joaquin and Cerro Leon. The company's business model is centered on the consolidation and development of mineral properties, focusing on creating a camp-scale portfolio through the acquisition of assets from both major and junior exploration companies. This approach targets geologically prospective terranes with world-class endowment, seeking to identify and unlock value that has been previously overlooked. The operational focus is on advancing underexplored assets where historical work has been limited, allowing for significant exploration upside. A key competitive advantage stems from a two-year consolidation initiative that successfully integrated five separate transactions, substantially increasing the scale of the entity's resource base. The corporate vision is to become a globally relevant development company and a preeminent entity on its primary stock exchange. The organization's values emphasize a long-term perspective, courage to pursue unconventional concepts, and a commitment to forming mutually profitable partnerships with all stakeholders.

Strategic focus centers on a multi-year consolidation initiative designed to achieve critical mass and create an accelerated pathway to resource development. This strategy involves the systematic acquisition and integration of contiguous properties to build a large, unified portfolio. Near-term objectives are driven by exploration, with a planned drill program of over 10,000 meters aimed at testing high-priority targets and expanding the existing resource base. Capital allocation is closely tied to these exploration objectives, with recent capital raises providing dedicated funding for maiden drill campaigns. The organization's strategy is also designed to leverage favorable macroeconomic tailwinds, including shifts in global monetary policy and increasing industrial demand for its principal commodities. Long-term, the mission is to continue identifying undervalued opportunities and applying a disciplined, science-driven approach to exploration and development, ultimately creating sustained shareholder value through resource growth and project advancement.

The board of directors is composed of 4 members, including a Non-Executive Chairman, a Managing Director, and 2 Non-Executive Directors, who convened for 7 meetings during the fiscal year with full attendance. Executive leadership is spearheaded by a Chairman with over 30 years of experience as a geologist, including senior roles with major mining firms and a track record of co-founding successful exploration companies. The Managing Director is an exploration geologist who previously founded and managed a private exploration firm. The management philosophy, as articulated in the company's value statement, promotes a culture that values courage to challenge conventional wisdom, curiosity in the scientific process, and a bias towards action to achieve exceptional outcomes. This framework also emphasizes making considered technical and commercial decisions based on incomplete information and inherent uncertainty, fostering an environment of accountability and respect.

During fiscal 2024, the company executed several transactions to consolidate its asset base, including acquiring the remaining 20% non-controlling interest in its subsidiary Minera Los Domos S.A. from RN Gold Pty Ltd in April 2024, thereby securing 100% ownership of the Conserrat project. Subsequent to the year-end, in July 2024, the organization completed the acquisition of all shares in Sierra Blanca SA from Austral Gold Argentina S.A. and Capella Metals Limited, consolidating ownership of the Sierra Blanca and Cruz del Sur projects. A binding letter of intent was signed in August 2024 for the proposed acquisition of the Joaquin and Cerro Puntudo projects from Pan American Silver Corp. These transactions are part of a broader consolidation strategy that also included the 2022 acquisition of the Pingüino project. Key operational subsidiaries include Ivael Mining S.A., SCRN Properties Ltd, and Fisher Resources Pty Ltd. As of September 2024, Austral Gold Limited and its related parties were a substantial shareholder, holding an 11.32% interest.