IMPACT Silver Announces Second Quarter 2022 Earnings Revenue of $3.5 Million and Net Loss of $0.79 Million

Vancouver, British Columbia–(Newsfile Corp. – August 29, 2022) – IMPACT Silver Corp. (TSXV:IPT) (OTC pink: ISVLF) (FSE: IKL) (“IMPACT” or the “Company”) announces its financial and operating results for the second quarter ended June 30, 2022.

The company recorded revenue of $3.5 million for the second quarter of 2022 thanks to significantly lower silver prices. Production and silver grade were higher in Q2 2022 than in Q1 2021. After non-cash costs, the Company incurred a net loss of $0.79 million.

Fred Davidson, President and CEO of IMPACT, said, “The combination of significantly lower silver prices this quarter due to inflation-driven rate hikes around the world and our development spending higher at the San Ramon and Guadalupe mines, resulted in a financially challenging quarter. We are further tightening our operations to help improve operating margins to weather market turbulence, while continuing to invest in underground development which may reduce costs in the near future. The grade at the Guadalupe plant has improved, and we should see the benefits in the coming quarters.

“IMPACT continued to focus on exploration and development after completing nearly 12,000 meters (“m”) of drilling in the first half of the year. Cash position remains strong at 18.4 million with working capital of $19.9 million (cash of $22.4 million and capital working capital of $22.8 million as of June 30, 2021.)

“IMPACT is a primary producer of silver and is heavily influenced by silver prices. We expect in 2022 that with continued improvements in production and exploration efficiency, we will continue to improve and to develop IMPACT for the future With a strong portfolio of ongoing project exploration programs, strong working capital, no long-term debt and an efficient and agile operation, IMPACT is well positioned to weather the volatilities ahead. short term. “

Q2 2022 financial overview

  • Revenue for the second quarter of 2022 was $3.5 million, compared to $4.2 million in the same quarter of 2021 due to lower silver prices.
  • The Company invested $1.4 million in exploration and mining assets during the quarter ($2.7 million year-to-date 2022).
  • Mine operating income before depreciation and depletion for Q2 2022 was $0.03 million, compared to $1.3 million in Q2 2021, due to lower silver prices and l increase in mine development costs.
  • Net loss for the quarter was $0.8 million, compared to net profit of $0.2 in Q2 2021.
  • The Company’s net working capital as of June 30, 2022 was $19.9 million with cash of $18.4 million.
  • The Company continues to have no long-term debt.

Second quarter 2022 production overview

  • Plant throughput was 37,183 tonnes in Q2 2022, compared to 37,833 tonnes in Q2 2021.
  • Silver sales for Q2 2022 were 151,353 ounces (2021 – 140,513 ounces), an increase of 8%.
  • Revenue per ton sold was $95.44 in Q2 2022, down 20% from the same period of 2021 due to lower silver prices.
  • Average head grade improved by 9% to 159 g/t silver in Q2 2022 (147 g/t in Q2-2021).
  • Cash costs per ton of production were $94.86 in Q2 2022, an increase of 16% from the comparative 2021 period of $81.41, largely due to significant drilling and underground development during the quarter.

Exploration and development plans

The 2022 exploration program of up to 20,000 m of drilling continues on the company’s extensive land package using four company-owned drill rigs (2 surface rigs, 2 underground rigs) to set extra power for mining.

Exploration targets are defined and prioritized using a very large computer database compiled over many years from historical maps, company exploration results and other technical data on the project . During the quarter, drilling focused on a number of near-term production and exploration targets, while field work was highlighted by continued exploration on the northern extensions of the Veta Negra mine, the new San Jorge zone to the north of Capire and the Noche Norte zone to the southwest. of Veta Negra.

With increased exploration activity, IMPACT is still considering potential joint ventures and option agreements with third parties on more remote stretches of the property, similar to Pantera Silver Corp’s option agreement. for the district of Pregones.

In the first quarter of 2022, Pantera made a cash payment of $100,000 and issued the Company 1 million treasury shares with a value of $240,000. Pantera is required to make option payments totaling $300,000 in cash, issue 3.5 million shares of the company and complete a minimum of $1.4 million of work on the project during over the next three years, in order to acquire 100% of the project, subject to a 1% interest. NSR.

Subject to prevailing market conditions and ongoing technical studies, including ore sorting, expansion of the current pilot plant and infrastructure, IMPACT is considering potentially restarting production at the open pit mine. Cape Town in 2023.

A recorded conference call reviewing financial and production results for the quarter ended June 30, 2022 will be available on the Company’s website on August 29, 2022 at

The information in this press release should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements and MD&A, available on the Company’s website at and on SEDAR at All amounts are quoted in Canadian dollars, unless otherwise specified.


IMPACT Silver Corp. is a successful silver-gold explorer-producer with two processing plants in adjacent districts within its 100% owned mining concessions covering 211 km2 in central Mexico with excellent infrastructure and workforce . Over the past 16 years, IMPACT has produced over 11 million ounces of silver, generating revenues of over $230 million, with no long-term debt.

At the Royal Mines in the Zacualpan Silver District, three underground silver mines and one surface mine feed the Guadalupe central processing plant. To the south, in the Mamatla district, the Capire project comprises a 200 tpd pilot processing plant adjacent to an open pit silver mine with a mineral resource of over 4.5 million ounces of silver, 48 million pounds of zinc and 21 million pounds of lead (see IMPACT press release of January 18, 2016 for more details); Company engineers are reviewing Capire for a possible restart of operations. With 15 years of exploration success leading to production cash flow, IMPACT has shown that the Zacualpan silver-gold district has numerous high-grade silver-gold zones and has brought several zones into production commercial.

Additional information about IMPACT and its operations is available on the Company’s website at Follow us on twitter @IMPACT_Silver and LinkedIn at

Qualified Person and NI 43-101 Disclosure

George Gorzynski, P.Eng., is a “qualified person” within the meaning of NI 43-101 and has approved the technical information contained in this press release.

On behalf of IMPACT Silver Corp.
“Frederic W. Davidson”
President and CEO

For more information please contact:
jerry huang
financial director | Investor Relations
(604) 664-7707 or This email address is protected from spam. You need JavaScript enabled to view it.
(778) 887 6489 Direct

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements and Cautions

This IMPACT press release may contain certain “forward-looking” statements and information relating to IMPACT that are based on the beliefs of IMPACT’s management, as well as assumptions made by IMPACT’s management and information currently available to it. . Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intend”, “believe”, “potential” and other similar expressions, or describe an “objective”, or a variation of these words and expressions or indicate that certain actions, events or results “may”, “should”, “could”, “will”, “could” or “will” be taken, occur or be carried out. Such statements include, but are not limited to, statements regarding the intended use of the proceeds of the private placement.

This forward-looking information involves known and unknown risks and assumptions, including with respect to, without limitation, exploration and development risks, expenditures and financing requirements, title issues, risks operating conditions, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with suppliers and strategic partners, government regulation and supervision, seasonality, technological change, industry practices and occasional events. Should one or more risks or uncertainties materialize or change, or should underlying assumptions prove incorrect, actual results and forward-looking statements could differ materially from those described herein. IMPACT assumes no obligation to update forward-looking statements.

Company’s decision to bring a mine into production, expand a mine, make other production-related decisions, or otherwise conduct mining and processing operations, is largely based on data and Non-public internal company 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 construction of several mines for the Company and in the Company’s track record of mineral production and financial returns since 2006. Under NI 43-101, the Company is required to disclose that it has not based its production decisions on NI 43-101 compliant mineral resource or reserve estimates, preliminary economic assessments or feasibility studies, and historically these projects have increased uncertainty and the risk of failure.

303-543 Granville Street Telephone (604) 664-7707
Vancouver, BC, Canada V6C 1X8

Ann J. Cox