CORPORATE PRESENTATION │ SEPTEMBER 2012

TSX–V:IPT │ FRANKFURT:IKL │ OTC: ISVLF

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Except for historical information, this presentation may contain certain “forward-looking” statements and information relating to

IMPACT that are based on the beliefs of IMPACT management, as well as assumptions made by and information currently available

to IMPACT management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including

but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating

hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and

strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events.

Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual

results and forward-looking statements may vary materially from those described herein. IMPACT does not assume the obligation to

update any forward-looking statement.

The factors that could cause actual results to differ materially include, but are not limited to, the following: general economic

conditions; changes in financial markets; the impact of exchange rates; political conditions and developments in countries in which

the Company operates; changes in the supply, demand and pricing of the metal commodities which the Company mines or hopes

to find and successfully mine; changes in regulatory requirements impacting the Company’s operations; the ability to properly and

efficiently staff the Company’s operations; the sufficiency of current working capital and the estimated cost and availability of funding

for the continued exploration and development of the Company’s exploration properties.

This list is not exhaustive and these and other factors should be considered carefully, and readers should not place undue reliance

on the Company’s forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such

future results, levels of activity or achievements and neither the Company nor any other person assumes responsibility for the accuracy

and completeness of these forward-looking statements.

NI43-101 QUALIFIED PERSON

George Gorzynski, P.Eng., Vice President, Exploration and a Qualified Person under the meaning of

Canadian National Instrument 43-101, is responsible for the technical information in this presentation.

1

• Profitable silver production in Mexico: Three 100% owned and operated mines

• Corporate focus is on profits: 553% increase in net earnings from 2009 to 2011

• A strong cash position of $23.1M and zero debt and 90% of revenues from silver

• Building a new mining district: Capire Mine and Processing Plant in Mamatla, Mexico

• Friendly-to-investor, tightly managed share structure (73M Shares FD)

CORPORATE HIGHLIGHTS

2

LOCATION

• Two mineral districts in a

large contiguous 623 sq km

land package

• A three-hour drive from

Mexico City with paved road

access to operating plant

• Excellent infrastructure:

modern electric power grid,

ample water supply and a

skilled Mexican work force

• Many other significant

mining operations nearby

3

HISTORY

• The Royal Mines of Zacualpan

is one of the oldest mining

districts in the Americas with

485 years of recorded mining

history

• Over 3,000 old mine workings

have been catalogued and

form the basis for modern and

effective exploration

• IMPACT bought the Zacualpan

assets in 2006 and then

consolidated ownership of the

entire district for the first time

in its history

One of 30 historic processing plants found in the

district attesting to a long history of silver mining

4

TWO DISTRICTS, ONE LAND PACKAGE

• Current active mining center

• Large 100% owned claim position

covers 423 sq km (163 sq miles)

• Central 500 tpd mill fed by three

underground mines: San Ramon,

Chivo & Noche Buena

• New underground Oscar mine

scheduled for production late

2012

• Substantial exploration

potential for both silver and gold

ROYAL MINES OF ZACUALPAN SILVER DISTRICT

.

5

This map is reproduced in miniature on following slides

MINE PRODUCTION

ROYAL MINES OF ZACUALPAN

• 500 tpd Guadalupe Mill fed by

the San Ramon, Chivo and

Noche Buena mines

• YE 2011:154,289 tonnes

produced, average of 424 tpd

at 5.7 oz/ton (195 g/t) silver

recovered

• YE 2011: 833,607 silver ounces

produced

• YE 2011: $9 cash cost per

ounce silver net of lead and

zinc credits

• YE 2012: Oscar mine

scheduled for production

6

SILVER PRODUCTION

2011 2010 2009 2008 2007 2007 %

Change 2006-2011

Total tonnes processed (t) 154,289 131,348 114,340 102,426 99,918 99,918 +126%

Tonnes processed / day (t) 424 360 313 280 274 274 +116%

Silver (oz) Production 833,607 750,259* 823,571 645,668 349,949 349,949 +79%

Gold (oz) Production 676 600 - - - - -

Lead (t) Production 731 734 969 813 601 601 +95%

Zinc (t) Production 1,248 1,212 1,098 1,053 976 976 +72%

Revenue per production tonne

sold $171 $123 $110 $90 - - +90%

Direct cost per tonne sold $70 $63 $60 $55 $44 $44 +17%

• Strong organic growth marked by rapid mine development with first drill hole to

mine production in less than 24 months

• Currently building two mines: underground Oscar mine and open-pit Capire mine

• 2011 direct cost per tonne sold averaged $70 per tonne or $9 per ounce of silver net

of lead and zinc credits

*Silver production was marginally down 9% in 2010 because the Company reduced the cut-off grade of the ore mined due to higher silver prices

7

TWO PRODUCTION CENTERS

OPERATING

• Guadalupe Processing Plant, Zacualpan

• 500-tpd crushing and flotation circuit

UNDER CONSTRUCTION

• Capire Processing Plant, Mamatla

• 200-tpd pilot plant being installed

with future expansion plans

8

TWO DISTRICTS, ONE LAND PACKAGE

• Newest mineral district in

IMPACT’s land package, located

16 km southwest of Zacualpan in

Mamatla, Mexico

• Mamatla concession covers 200

sq km (77 sq miles)

• Capire open-pit VMS deposit will

be the first mine in the district

• Initial production from 200 tpd

pilot plant, currently under

construction

• Future silver production from

Capire is anticipated to propel

IMPACT into a multimillion

ounce silver producer

CAPIRE DISTRICT

.

9

Capire Mine & Processing Plant, September 2012

NEW MINE DEVELOPMENT #1

CAPIRE PRODUCTION CENTER

• Capire mine represents a new production center in a new

mining district

• Strategy to bring Capire to full-scale production:

o 2012: Construction of 200-tpd pilot plant and 5,000 m drill program

o 2013 & 2014: 200 tpd pilot plant production (~200,000 oz silver

annually) to optimize operating parameters for expansion plans

o 2015: Construction of full scale plant (800-1,500 tpd) with goal to

produce over 1M oz silver annually

Capire Mine site Capire Mine: Open pit model

Plant

Site

Defined NI 43-101

Mineral Resources Open for

expansion

Open for expansion Capire

open pit

3D Model Processing Plant Site

Tailings Facility

10

Tailings Facility

Open-Pit

CAPIRE

NI 43-101 MINERAL RESOURCE ESTIMATE

Metal Content for Capire Project

Ag (oz) Au (oz) Cu (lbs) Pb (lbs) Zn (lbs)

Measured 3,529,969 14,146 3,389,275 18,234,678 46,140,820

Indicated 3,694,066 16,300 3,693,733 19,029,800 49,522,173

Measured &

Indicated 7,224,035 30,446 7,083,007 37,264,478 95,662,993

Inferred 435,959 1,919 475,594 2,260,089 5,823,490

Summary of Classified Mineral Resources – Measured + Indicated and Separate Inferred

Domain Classification Tonnes Ag (g/t) Au (g/t) Cu (%) Pb (%) Zn (%)

Capire Measured + Indicated 3,104,944 46.46 0.19 0.06 0.33 0.93

Aurora 1 Measured + Indicated 1,807,302 44.50 0.199 0.07 0.36 0.80

Total Measured + Indicated 4,912,246 45.74 0.193 0.06 0.34 0.88

Total Inferred 371,066 36.54 0.161 0.06 0.28 0.71

• Initial production planned on higher grade portion of Capire

• Drilling is continuing at Capire to expand mineral resources

• Capire zone lies in the same stratigraphy as Campo Morado where Nystar (formerly Farrallon

Resources) is in production on the large G-9 VMS deposit, which is on trend 45 km southwest

of Capire 11

NEW MINE DEVELOPMENT #2

OSCAR MINE

OLD CUCHARA MINE

OSCAR MINE

SANTA LUCIA ZONE

12

• Oscar is a silver vein

corridor on the southern

extension of the past-

producing Cuchara Mine

• The high grade Oscar-Santa

Lucia Zones are scheduled

for production in late 2012 to

replace the Chivo mine

where grades are dropping

with depth

• Pre-existing Cuchara mine

mining infrastructure will

contribute to low capital

costs and rapid mine

development at Oscar (<1yr)

NEW MINE DEVELOPMENT #2

OSCAR MINE

• Oscar and Santa Lucia host high grade veins as found in the following drill holes:

OSCAR CORRIDOR DRILLING HIGHLIGHTS

Drill

Hole

True

Width

(m/ft)

Silver

(g/t)

Gold

(g/t)

Lea

d

(%)

Zinc

(%)

Z11-44 31m /

101.7ft 291 0.01 0.1 0.4

Including 7.5m /

24.6ft 780 0.02 0.4 1.1

Including 5.8m /

19.0ft 398 0.03 0.2 0.9

Z11-46 5.7m /

18.7ft 1,007 0.07 0.5 1.1

Including 2.8m /

9.2ft 1,128 0.51 0.9 1.4

Including 1.1 /

3.6ft 4,580 0.26 1.7 4.0

Z11-64 6.6m /

21.7ft 223 0.08 0.2 0.5

Z11-74 1.0m /

3.3ft 1,875 0.74 2.7 6.9

Z12-08 23.4 /

76.8ft 115 0.02 0.1 0.4

SANTA LUCIA ZONE DRILLING HIGHLIGHTS

Drill

Hole

True

Width

(m/ft)

Silver

(g/t)

Gold

(g/t)

Lead

(%)

Zinc

(%)

Z09-35 1.4m /

4.6ft 600 0.10 - -

Z09-47 6.3m /

20.7ft 278 0.01 0.2 0.7

Including 3.2m /

10.5ft 467 0.01 0.2 1.1

Z09-50 1.0m /

3.3ft 602 0.02 0.1 0.1

Z09-53 2.4m /

7.9ft 419 0.03 0.3 0.3

Z09-55 1.1m /

3.6ft 372 0.01 0.1 0.2

Z09-58 2.1m /

6.9ft 274 0.10 0.4 1.2

Z10-03 1.1m /

3.6ft 588 0.05 0.4 2.0

Including 1.7m /

5.6ft 394 0.07 1.1 1.6

13

GEOLOGY

METAL DISTRIBUTION IN ORE ZONES

Depth

0 m (0 ft)

150 m (500 ft)

300 m (1,000 ft)

Oscar Mine

San Ramon Mine

Chivo Mine

Noche Buena Mine

Length

150-420 m (500-1400 ft)

Silver-rich at top

200 – 1,000+ g/t Ag

Lead & Zinc rich

at bottom

60 – 150 g/t Ag

Gold (Copper)

at depth

Host to high grade

Gold

Mining Level

Carlos Pacheco

Gold-Copper Zone Typical

Mining Width

3 m (10 ft)

• Veins in the Royal Mines of

Zacualpan District tend to

be silver-rich near the top

(commonly 1,000+ g/t) with

increasing lead and zinc

and decreasing silver

toward the bottom

• New discoveries indicate

that significant gold and

copper may lie at depth

• Capire zone is a different

type of mineralization: a

volcanogenic massive

sulfide (“VMS”) deposit

14

VALLE DE ORO

GOLD POTENTIAL AT DEPTH

• First gold-copper zone found by company prospectors in a canyon below the

known silver veins

• Initial drill results on two zones returned high gold values (see tables below)

• These initial drill results indicate potential gold horizons lying at depths of

300 m (1,000 ft) below the silver district

• Drilling will test gold targets at depth on other silver veins

HUATECOSCO DRILLING HIGHLIGHTS

Drill

Hole

True Width

(m/ft)

Gold

(g/t /opt)

Silver

(g/t)

Lead

(%)

Zinc

(%)

Z11-48 4.1 m /

13.5 ft

5.2 g/t

0.16 opt 30 0.7 1.8

Including 0.8 m /

2.6 ft

25.0 g/t

0.75 opt 50 0.5 1.6

Z11-17

3.2 m /

10.5 ft

3.4 g/t

0.10 opt 118 0.6 0.8

Z11-19 1.8m /

5.9 ft

3.5 g/t

0.11 opt 321 0.4 0.6

Z11-20 9.5 m /

31.2 ft

3.97 g/t

0.12 opt 49 1.7 2.6

Including 4.2 m /

13.9 ft

6.96 g/t

0.21 opt 84 2.9 5.1

CARLOS PACHECO DRILLING HIGHLIGHTS

Drill Hole True Width

(m/ft)

Gold

(g/t /opt)

Silver

(g/t)

Copper

(%)

Z08-65 2.1 m /

6.9 ft

11.3 g/t 0.34

opt 18 -

Including 1.2m /

3.9 ft

18.8 g/t

0.56 opt 24 -

Z08-68 2.9 m /

9.5 ft

19.6 g/t

0.59 opt 68 0.29

Including 1.0 m /

3.3 ft

49.7 g/t

1.49 opt 59 0.31

Including 1.7 m /

5.6 ft

31.1 g/t

0.93 opt 69 0.31

Z12-13

Including

2.8 m /

9.0 ft

8.5 g/t

0.26 opt 56 1.12

15

TECHNICAL SUMMARY

IMPACT’s goal is to build a multimillion ounce precious metals

producer with multiple processing centers

1

4

3

2

1. Guadalupe Production Center

• Oscar Silver Mine scheduled for

production in late 2012

• Current ore feed from San Ramon, Noche

Buena and Chivo Mines

2. Capire Production Center

• New production centre in new district

• Initial production through 200-tpd pilot plant

• Multiple gold and silver targets in district

3. Valle De Oro Gold & Silver Area

• Area of many silver veins with gold and

copper mineralization at depth

• Large drill program currently underway

• Potential site of a third processing plant

4. Southeast Exploration Area

• Currently mapping numerous old

mine workings, early stage exploration

16

RAPID EXPLORATION

TO MINE DEVELOPMENT

RESEARCH

Compile old

mines/

prospects from

historic maps

DRILLING

Drilling in

phases

based on

success

MINE &

DISTRICT

DEVELOPMENT

Mine Planning,

Permitting and

Construction

FIELD WORK

Surface &

underground

sampling,

mapping

MINE

PRODUCTION

& CASH

FLOW

More than

3,000 old

mines and

prospects

catalogued

to date

Select

areas and

prospects

for drilling

• Capire (North)

• Pilarica

• Condesa &

Cuchara North

• Carlos Pacheco

• Huatecosco

• San Ramon

• Noche

Buena

• Chivo

• Gallega

• Capire (new

mining district)

• Oscar

• Santa Lucia

First Drill Hole to Production: 12 – 24 Months

• A cornerstone of IMPACT’s success is rapid mine development to generate near-term cash flow

• Since 2006, IMPACT’s team has successfully discovered and built three new mines with two additional mines now under construction

(Chivo, San Ramon Extensions, Noche Buena)

EXPLORATION AND MINE DEVELOPMENT PROCESS FLOWCHART:

17

FINANCIAL SUMMARY

($000’000’s CDN except of EPS) 2011 2010 2009 2008 2007 2006* % Change

2006-2011

Revenue $24.3 $16.7 $12.2 $8.9 $7.3 $7.0 +247%

Net Earnings $7.6 $3.4 $1.6 $.66 $.29 $.51 +1,390%

Operating Cash

Flow* $10.2 $5.4 $3.7 $2.2 $1.9 $2.6 +292%

Cash & Cash

Equivalents $30.8 $18.7 $5.3 $5.4 $10.1 $4.0 +670%

Working Capital $31.9 $20.2 $6.3 $7.3 $11.3 $5.2 +467%

EPS $0.12 $0.07 $0.02 $0.01 $0.01 $0.01 +1,100%

$-

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

$30,000,000

2006 2007 2008 2009 2010 2011

Revenue

Net Earnings

Operating Cash Flowbefore changes innon-cash operatingcapital*

* Royal Mines of Zacualpan project purchased by IMPACT Silver in January 2006

18

LONG-TERM VALUE PLAY

MARKET INFORMATION – SEPT 2012

Recent

Share Price $1.55

52 Wk

Range

$0.96 -

$2.35

Shares

Outstanding

Basic – 68 M

FD – 73 M

Avg Vol

(3m) 125,000

Market Cap 105 M Warrants Nil

Largest Positions

Sprott Asset Management, 12%

Energold Drilling Corp, 11%

CAPITAL EXPENDITURE USE EFFICIENCY ($CDN)*

Total funds raised since start of

operations in January, 2006

Property payments, plant & equipment,

and exploration expenditures

Cash Position

(June 30th, 2012)

$25 Million $38 Million $23 Million

19

Share Price Performance, 3 Years Source: Stockwatch, Sept 2012

ZACATECAS OPTION AGREEMENT

DEFIANCE SILVER CORP. (TSX.V:DEF)

• IMPACT Silver optioned its

200-tpd Santa Gabriela

Processing Plant and ten mineral

concessions to Defiance Silver

for cash and a 16.5% share

position

• Defiance Silver is a near term

silver producer exploring in the

Zacatecas Mining District in

Mexico

• Defiance Silver plans to marry

IMPACT’s Santa Gabriela plant

with their San Acacio Silver Mine

(18M oz Silver defined)

Santa Gabriela Processing Plant

San Acacio Silver Mine

20

FUTURE PLANS AND GOALS

2012

• 2012 is a transition year as IMPACT builds two new mines, laying the

foundation for the next phase of profitable silver production growth

• Continue aggressive exploration to accelerate organic growth at the

Royal Mines of Zacualpan

• With over $23 million of unallocated cash and consistent production

earnings, pursue accretive merger and acquisition opportunities of

near term production or cash-strapped precious metals companies

worldwide

2013 to 2015

• Double silver production with expansion of Capire Production Center

• Continue exploration and development of both silver zones and deep

gold zones within the gold-rich Valle de Oro zone 21

WHY IMPACT SILVER?

• Five years of increasing

revenues and earnings

• Strong cash position & zero

debt

• Expanding silver production

with two new mines

commencing production within

the next five months

• Aggressive exploration for gold

and silver in the Valle de Oro

• Tight share structure and small

market cap for a profitable

producer

• Proven history of profitable

mining success

22

This statue of a miner is located in front of the

church in the town of Zacualpan, signifying the

importance and acceptance of mining within

the community and the surrounding areas.

Contact Us

Telephone: 1 604 681 0172

Email: inquiries@impactsilver.com

www.impactsilver.com