Sac may 4 2011 presentation

Value. Growth. Vision

Growing and advancing one of the world’s largest undeveloped silver and indium resources.

TSX: SAC, US OTC: SOHAFCorporate Presentation

A Growth Focused Exploration & Development Company

Q2 2011

www.soamsilver.com


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. 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.

TSX:SACUS OTC:SOHAF


Investment HighlightsSouth American Silver Corp.

TSX:SACUS OTC:SOHAF

• 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 resources• Escalones: high potential copper-gold deposit

• 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 years

• Measured and Indicated resources expanded 60% to 230 M oz silver• Well defined business plan to drive shareholder value• Leveraged to silver nearly 4 oz of silver per share• Attractive investment value relative to peers at low value per oz• Exposure to the high-tech indium and gallium market• Potential value from new copper-gold resource• Strong focus on community relations• Well financed into feasibility

1


Escalones

Malku Khota

World-Class DepositsTwo large-scale assets in South America Malku Khota, silver-indium project, Bolivia (100%)

• Bulk mineable open-pit, sediment hosted deposit• Low capital and operating costs as a heap leach or milling operation• Update resource increases M&I 60% to 230 M oz silver

• Pre-Feasibility process to start in 2011 & Feasibility in 2012• Resource expansion potential with only 4 km of 50 sq km property drill tested• Potential to be one of the top producing silver and indium mines• Funded into Feasibility

Escalones, copper-gold project, Chile (100%)• Large scale target in world-class mining district near El Teniente• Exploration program and geophysics underway• Resource definition program in 2011• Potential significant copper, gold, silver deposit

2

Silver(Moz)

Indium(tonnes)

Gallium (tonnes)

AgEq(Moz)

M&I 230 1,481 1,082 354

Inferred 140 935 1,001 240

*AgEq=total contained metal


Share Capitalization2

TSX:SAC, US OTC:SOHAFIssued &

OutstandingFully

Diluted1

WarrantsOptions

99.9M 117.3M7.2M10.0M

• ~$300 million Market Capitalization (1)

•Average trading volume 500,000 shares/day•Well financed with +$30 million in cash at year end2

•Potential NYSE-AMEX listing to increase visibility and liquidity

(1) As of November 8, 2010 with proposed $28 million financing(1

(1) On a fully diluted basis(2) As of March 31, 2011

Major Shareholders •Zamin—19.7%•Private Swiss investors--19%•Management1 --15%Institutional Ownership•Sprott Asset Management•Front Street•K2 funds•Kudu Partners•Orell Capital Management

3


Zamin Group - Strategic InvestmentA Key Regional Player

• Well funded regional player in South American resources industry with major projects in Brazil, Uruguay, Bolivia, and Chile

• Strategic 19.7% investment positions SAC in strong financial and

operational position to advance projects to feasibility• Track record of successfully facilitating South American project

development through relationships with national and state governments in the region

• Portfolio of South American projects with strong government support in permitting, rail and port infrastructure

• Bamin Project-Brazil• Valintine Project-Uruguay• Acquiring assets in Bolivia over past year

TSX:SACUS OTC:SOHAF 4


Alexco

Sullid

en

US Gold

Golden M

inerals

Silve

rcrest

MAG Silve

rOrko EC

USa

bina

Tahoe R

esource

s

So.Ameri

can Si

lver

Bear C

reek

0

50

100

150

200

250

300

350

400

450

500

Comparative Resources in the AmericasSecond largest development stage silver resource

Source: Canaccord Report resource numbers as of January 11, 2011Based on Arpil 11, 2011 share priceNote: All companies have projects in South and/or North America

MexicoMexicoEl. Salvador

MexicoMexicoArgentina

Peru MexicoYukon NunavutGuatemala Bolivia

Chile

Peru

$39.35

$1.71

$0.72

$11.30$3.37

$2.17$2.44

$8.08$1.87$5.82$17.89

$9.13

Mill

ions

of S

ilver

Oun

ces Millions of Silver Ounces &

(Enterprise Value Per Oz)

5


So.Americ

an Silve

rECU

Orko

Sabina

Golden Minera

ls

MAG Si

lver

Tahoe Resource

s

Bear Cre

ek

Silve

rcrest

Espera

nza

Sullid

en

US Gold

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

Enterprise Value per Resource Oz By project development stage

Source: Canaccord & Intierra as of April 11, 2011,Note: All companies have projects in South and/or North America*EV/oz truncated to $25

Development Stage Average >$4/oz

Advanced Development Stage Average >$9/oz

ProducersAverage >$25/oz

6

Prod

ucing

Com

panie

s

EV of $0.81 base on 230.3 million M&I oz Ag


Development Stage Value CurvePotential value growth with project advancement

Increased value through resource

expansion

Early StageExploration & Development

AdvancedDevelopment Stage

(Reserves)

Production

Average Enterprise Value per Oz of Silver by Stage

ResourceDefinition

PEAPFS

FSPermits

Construct

Discovery

$4/oz

$9/oz

$25/oz

Source: Recent average enterprise value per ounce of silver at various development stages for North and South American based projects. Canaccord, Wellington West and Company reports.

Incr

easi

ng M

arke

t Val

ue

Take-Over offers or Partnerships common

at this stage

Production

Increasing value with project advancement

7


EARLY DEVELOPER STAGE

ADVANCED DEVELOPER STAGE

PRODUCE

R STAGE

Source: Canaccord Report January 17, 2011Intierra, February 8, 2011Share prices as of March 28 2011,Note: All companies have projects in South and/or North America

Circle size represents EV/oz

8

Current Silver Company Valuations by Stage

$50 $500 $5,00010

100

1000

Aurcana

Esperanza

Sulliden

Silvercrest

Bear Creek

EndeavourArian

ECU

Golden Minerals

Kimber

MAGOrko

Sabina

South American Silver

Tahoe

US Gold

Developers Adv Development Producers

Enterprise Value (US$ Millions)

To

tal R

eso

urc

e S

ize

(M

oz'

s)

Coeur D'Alene

500

$2,000


Silver Supply/DemandSurging investment demand plus industrial consumption resulting in significant demand growth. Supply increase resulting from rising silver prices driving producer hedging and increased mine production of 2.5% to help satisfy increasing demand.

Source: GFMS World Silver Survey 2011

Total Global Silver Supply

Total Global Silver Demand

9


Silver Fundamentals PositiveFor continued higher prices• One of the only precious metals not yet to hit all-time nominal highs of ($50/oz)

in 1980’s • Bullish supply/demand outlook with investment and industrial demand increase• Annual mine production vs total demand remains in short-fall• Silver bullion is now the more scarce precious metal than gold from investment

supply perspective• US mint has sold only approximately three times more value in gold than in silver

in 2010 coin sales, despite having to sell 131 times more gold for the market to stay in balance

• Chinese went from net sellers of more than 100 million oz of silver in 2005 to net buyers of more than 120 million oz in 2010 with imports up 4X since 2009

•Ratio of silver to gold ETF trade volumes an average of 5.4:1 since early April, 2011

• Few new major deposit discoveries

Source: Silver Institute, Feb, 2011

10


Indium & Gallium—two key strategic metalsRapidly 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 semiconductorsSupply• 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



Indium & Gallium FundamentalsCompelling 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 other key high-technology specialty metals

• Zinc market growing at 1-3% annually with indium market estimated to be 15-20% annual growth

• Current indium price ~$600/kg with five-year prices from $400/kg to over $1000/kg

• Roskill estimates a conservative 15% annual growth rate for gallium which could increase significantly with any successes in photovoltaics or as a rare earth substitute

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 demand for gallium

12


Indium & Gallium DemandGrowing demand in high-tech markets

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 Energy Critical Minerals Strategy Report

End-

use

Mar

ket

Dem

and

(ton

nes)

2010 total indium production level

5 year projected demand growth

2010 2011E 2012E 2013E 2014E 2015E 2016E0

500

1000

1500

2000

2500Solar Energy

LED Lighting

LCD Flat Panels

13


Indium FundamentalsWorld indium demand vs price (1969-2013*)

Source: Indium: Global Industry Markets and Outlook, 9th Edition 2010 (Roskill)*2011-2013 Data are estimates only

14

Indi

um D

eman

dIndium

Price/kg ($US)

19701972

19741976

19781980

19821984

19861988

19901992

19941996

19982000

20022004

20062008

20102012

0

200

400

600

800

1000

1200

1400

0

100

200

300

400

500

600

700

800

900

1000

DemandPrice


Opportunity in BoliviaAn emerging resource based economy

• Bolivian gov’t encouraging private investment• Member of Mercosur Regional trade organization with Brazil as largest trading partner•Gov’t bond rating upgraded by Moody’s & Fitch•Mining second largest economic sector representing 40% of GDP

• One of the world’s premier silver districts with billions of ounces of historical 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$2.3 billion for 50% interest in 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



Silver Mines in BoliviaOne 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



Malku Khota Project

• 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 M oz silver per year and 80 tonnes of indium1

• Project base case annual Cash flows and NPV’s more than doubled • 60% expansion of Measured and Indicated Resources2

• Pit model 80% M&I resources for conversion to reserves with PFS• Excellent resource expansion potential with just 4 km tested of trend • Moving into Pre-Feasibility in 2011 and Feasibility in 2012

One of the world’s largest silver-indium resources

171) on average for the first 5 years of production2) See March 31, 2011 News Release for detailed resource estimate3) Total contained metal

Silver(Moz)

Indium(tonnes)

Gallium (tonnes)

Copper (MLbs)

Lead(MLbs)

Zinc(MLbs)

AgEq3

(Moz)

M&I 230 1,481 1,082 120 453 247 354

Inferred 140 935 1,001 102 362 246 240


Established InfrastructureLow projected capital and operating costs• Open pit, bulk mineable

• Accessible by road• Commercial power within 15km• Access to water



Enrichment starts at surface Host rock sandstone with disseminated silver, indium, gallium, lead, zinc and copper

MineralizationOpen pit, bulk mineable deposit

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

(1) AgEq comprised of all contained metals(2) Economic cut-off grade comprised only of silver and indium

19


MineralizationGeological formations looking south from Limosna

High Grade Sandstone

1160 g/t Silver

Wara Wara Sandstone

Malku KhotaSandstone Aroifilla Fm



Malku Khota DrillingGrade thickness map

• 115 drill holes in current resource with 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 Ag oz

• 2011 program to target conversion from resources to reserves & expansion drilling

• 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

21


New Exploration ResultsDiscovery of broad continuous mineralization horizonLMD048: 286 meters grading 76 g/t Ag Eq Grade thickness values of over 21,500 g-m AgEq


OPEN

OPEN


Malku Khota DepositOnly 4km of 50 sqkm property drill tested

• 2010 program focused on in-fill and confirmation drilling for March 2011PEA Update

• Excellent potential to expand resources

TSX:SACUS OTC:SOHAF

Continuation of favourable sedimentary host rocks

Wara Wara Area

Sucre Area

Limosna Area

23

Concession Boundary


Production ProcessesFrom ore to metal

• Large scale shovel and truck open pit mining operation

• Ore crushed in preparation for leaching• Acid-chloride leaching in captures silver,

indium, copper, lead, zinc, gallium and gold• Metal recovery in several steps:

• Acid recovery• Silver-gold-copper cementation• Indium-gallium precipitation• Lead and zinc sulfides

• Downstream processing to metal products

TSX:SACUS OTC:SOHAF

Crushing

Leaching

Metal Recovery & Processing

Open Pit Mining

Silver, Gold, Copper

Indium ingots

Lead and Zinc concentrates

24


2011 Economic Assessment

(1) In US dollars, March 2011, PEA(2) First 5 years of production (average)(3) LOM = Life of Mine

25

Metal Prices ($US)Base Case

Silver : $18/ozIndium : $500/kgGallium: $500/kg

$25/oz$570/kg$570/kg

Mining RateLife of MineOre Mined (LOM)3

Average Silver Grade 2

Average Indium Grade2

Ag Eq grade

158 M1,184191M135 M88 M212,962

10.5 M78.9 M 12.7 M9 M5.87 M14,198

Mid Case

Base Case$185M/yr$1,261M$704M37.7%27 months

$287M/yr$2,528M$1482M63%19 months

Mid Case

TotalLOM

Annual

40,000 tpd15 years200M tonnes42.2 g/t7.55 g/t58 g/t

First 5 years

Recent$430M/yr$4,298M$2571M92.9%15 months

Recent$35/oz$650/kg$730/kg

13.2 M80.7 12.48M4.42M5.64M15,184

71%

15%

6%

5%3%

Share of Gross Revenue(at base case prices)

Silver

Indium & Gallium

Copper

Lead

Zinc

First 5 years cash flow Net cash flow NPV (5% discount rate)1

Internal Rate of ReturnPayback period (years)

Recovered MetalsSilver (oz)Indium (tonnes)Lead (lbs)Zinc (lbs)Copper (lbs)Gallium (kgs)


0

2

4

6

8

10

12

Caracoles

Wonaw

inta

Constancia

Marcona

Dugald River

Bahuerachi

Casposo

Angostura

Salobo

Rosario

Esperanza

Rosemont

Rosia Montana

Wolverine

Martabe

Galeno

Hardshell

SanJose

Keno Hill

Cerro Negro

El Aguila

Santa Ana

El Saucito

Navidad

Corani

Malku Khota

Pascua Lama

Near Term Mine Development ProjectsSAC one of largest near-term producers at 40,000 tpd

• Annual estimated potential silver production of new development projects anticipated in the next 2-4 years

Source: CPM Silver Yearbook 2010*Data based on life of mine production rate of 10.5M oz/per yearProduction rate of 13.2 Moz /year for first five years

Oxiana

Intrepid Mines

Cobar ConsilidatedAntofagasta plc

Fortuna Silver

Minm

etals, Jiangxi Copper

Pan American

Bear Creek

Jinchuan Group

Chariot Resources

Augusta Resource

Silvermex Resources

Fresnillo Plc

Gold Resource

South American Silver*

Antofagasta plc

Greystar Resources

Vale

Barrick

China Minm

etals

Gabriel ResourcesYukon Zinc Corp.

Norsem

ont Mining

Alexco Resource Corp

Wildcat Silver Corp

Bear Creek

Andean Resources

25

Mill

ions

of O

unce

s

26


Global Silver Industry Cash Cost CurveAnticipated low-cost silver production

Cumulative Percentile of Silver Mine Production Cost

Tota

l Cas

h Co

st P

er O

unce

of S

ilver

Industry AverageCash Cost$5.27/oz

Malku Khota13.25 Mozs/yr (1)

~ $2.94/oz (2)

Source: GFMS World Silver Survey 2011

(1) Average first 5 years of production

(2) Silver cash costs after credits ($US)/oz 27


Advancing to ProductionDevelopment Timeline

TSX:SACUS OTC:SOHAF

The project is at the PEA stage and may change substantially in terms of size and costas further exploration, engineering and metallurgical testing are completed

20122011

Pre-Feasibility Studies

Feasibility Study

ProjectedMine

Development

2013-14

28


Escalones-Copper-Gold project, ChileHigh potential, large-scale target• 70 square km, road accessible,

large scale system

• Located in world-class copper mining district near El Teniente

• Historic drilling shows >1% copper grades at surface and untested porphyry system grading 0.6% copper

• Additional significant gold, silver and molybdenum credits

• Exploration program underway

• Resource estimate targeted for 2nd half of 2011



Escalones

Ownership: 100% through LeaseLocation: 35km E of El TenienteElevation: 3800m

• 6,889 hectares

• Escalones porphyry prospect located 97 km southeast of Santiago in central Chile

• 12,666m drilled in 30 DDH 10,159m in the skarn

500m in the porphyry

Exploration

SAC propertyGas pipelineAccess Road

30TSX:SACUS OTC:SOHAF


Drill Results Grade Thickness MapLarge-scale porphyry system

• Open in all directions• Strong historic results



EscalonesGeological cross-section

• Enriched zones with high grades at surface at over >1% copper with significant gold and molybdenum

• Large scale porphyry target intercept of 176 m @ 0.6% copper with additional gold, silver and molybdenum

TSX:SACUS OTC:SOHAF

AltoBajo

32


Community RelationsA key to successful project development• Assistance of BSR* to develop proactive community relations strategy• Full-time community relations team working in region• Objectives to facilitate economic development in communities• Project construction will require a peak construction workforce of over

1,000 with operational workforce of around 400, most of whom will be sourced from surrounding communities

*Business for Social Responsibility, San Francisco, CA 33


Project MilestonesValue drivers over the next 6-12 months

• Malku Khota, silver-indium-gallium project, BoliviaUpdated 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*Updated resource results show 60% increase in M&I ounces to 230 M oz of

silver with an additional 140M oz inferred, and indium to 1,481 tonnes M&I and 935 tonnes inferred

Cash flows, project valuations and rates of return significantly expanded over previous studies

Pre-Feasibility work beginning in second half of 2011 Feasibility work to begin in 2012

•Escalones, copper and gold porphyry project, ChileExploration and Geophysics program underway Target for initial resource estimate in 2nd half of 2011 Potential for significant deposit of copper, gold and silver

34*Average first five years of production


Alexco

Silve

r ETF

US Gold

Tahoe Resource

s

Sullid

en

MAG Si

lver

Golden Minera

ls

Sabina

Orko ECU

Silve

rcrest

Silve

r Standard

Bear Cre

ek

So.Americ

an Silve

r$0

$5

$10

$15

$20

$25

$30

$35

$40

Leveraged to SilverValue of silver per dollar invested

SAC has some of the best leverage to silver of any development stage company with nearly$40 of silver value per $1 invested

Source: Canaccord as of January 17, 2011, Share prices updated April 11, 2011Note: all companies have projects in South and/or North AmericaCalculated using $25/oz Ag. Dollar value of silver per $1 invested = (silver resource/shares outstanding) x $25/oz silver) divided by share priceValue only shown for silver with no contribution from other metals

Silver value per $1 invested

Average value of silver <$8 of silver per $1 invested*

35


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

• Leveraged to silver with nearly 4 oz of silver per share• Attractive investment value relative to peers at low value per oz • Exposure to rapidly growing indium and gallium high-technology market• Potential new value from copper resource definition and expansion• Continued investor outreach to broaden market awareness of Company• Potential near-term NYSE-AMEX listing in the U.S.



TSX: SACOTC: SOHAF

Phone: 604.681.69261.855.681.6926

www.soamsilver.com

Greg JohnsonPresident & CEO

TSX:SACUS OTC:SOHAF


Relative Stock PerformanceSAC outperforming key silver & gold indices•Trading liquidity increasing with average volume of 500,000 shares/day• SAC undervalued relative to peers at >$0.80 Enterprise Value/oz vs

average of more than $4/oz for early stage resources

TSX:SACUS OTC:SOHAF


Management TeamA track record of success

Ralph Fitch, Executive Chairman Co-founder of South American Silver, High Desert Gold, and General Minerals Key role in discovery of Collahuasi copper porphyry , Malku Khota, Vizcachitas, and Escalones deposits

Greg Johnson, President and CEO Co-founder of NovaGold, key role in growing company from $50 million to $2 billion market capitalization Recognized for discovery and advancement of the 40 M oz Donlin Creek gold deposit for NovaGold and Barrick

William Filtness, Chief Financial Officer Chartered Accountant with twenty plus years of financial experience, including Manager, Corporate Development at Aurizon Mines

Felipe Malbran, Vice President of Exploration Extensive experience in exploration management in Bolivia, Chile, Peru and Argentina Key role in discovery of Malku Khota, Vizcachitas, and Escalones deposits

Phillip Brodie-Hall, Vice President of Project Development Global industry experience in engineering construction and project development experience covering nearly every aspect of evaluation,

feasibility studies and project development in the mining and mineral processing industriesDavid Dreisinger, Vice President of Metallurgy

Professor and Industrial Research Chair in Hydrometallurgy at the University of British Columbia (UBC) Actively involved in developing and commercializing hydrometallurgical process at a number of operating mines in Australia and Southeast

Asia.Richard Doran, Vice President and corporate secretary

Former VP Investor Relations for General Minerals and Marketing Manager for Chevron ResourcesAndrew Clark, Manager of Project Implementation

Global industry experience in the design and management of industrial, mining, materials handling, chemical and petrochical projects from feasibility studies through to commissioning and handover of completed facilities.

Xavier Gonzales Yutronic, General Manager Compañía Minera Malku Khota S.A. Mining Industry experience in finance, accounting, logistics, human resources and community relations at Comsur S.A., Sinchi Wayra

(Glencore) from 2005-2007, and Compañía Minera Malku Khota S.A. from October 2008 to date

TSX:SACUS OTC:SOHAF


Board of DirectorsStrong industry and financial experience

Ralph Fitch, Executive Chairman Greg Johnson, President and CEOAntonio Canton, Director - Mr. Canton is an independent consultant for international companies in marketing, finance and real estate. He is a director of a number of Swiss companies and brings to the board extensive experience in accounting and finance.Peter Harris, Director - Mr. Harris is an engineer with over 40 years of mining industry experience including as Senior VP and Chief Operating Officer at Nova Gold Resources Inc., and Senior VP of Project Development at Placer Dome Inc. He has been involved in the construction and operation of over 20 different mines in North and South America, Africa, Australia and Papua New Guinea. William Murray, Director - Mr. Murray is an engineer in the mining industry with over 33 years of experience in construction management and project evaluation in North America and Africa. He currently serves as the executive chairman and director of Polymet Mining Corp. Mr. Murray has been involved in numerous successful projects while working at Fluor Daniel, Denison Mines, Optimum Project Services and Anglo American Corp. in South Africa. Paul Haber, Director - Mr. Haber is a Chartered Accountant and a Certified Public Accountant with a strong background in US/Canadian accounting and finance. Presently manages Haber & Co. Ltd. Has previously been Chief Financial Officer and Corporate Secretary of a TSX Venture listed company. John Watson, Director - Mr. Watson has been the President of a TSX Venture Exchange listed company since 2002. He is also the manager/member of a limited liability corporation that owns and manages commercial real-estate.Tina Woodside, Director - Ms. Woodside is currently the head of the corporate finance department in Gowlings’ Toronto office and a member of the firm’s National Executive Committee. Ms. Woodside practices corporate and securities law with particular emphasis on corporate finance, mergers and acquisitions and corporate governance matters.

TSX:SACUS OTC:SOHAF

Sac may 4 2011 presentation

Business

silverindium project

producing silver

low value

coppergold project

value creation

shareholder value

forwardlooking statements

resource expansion potential