Annual General Meeting - 21 November 2013 Chairman's Address to Shareholders

Good afternoon and welcome to this Annual General Meeting of Silver City Minerals Limited. During the year the Company has substantially advanced its quest to discover a Broken Hill
type silver-lead-zinc orebody within the Broken Hill District. Silver City has identified a series of linear trends that contain over 400 known mineral occurrences of the Broken Hill type
(BHT) within lode rocks similar to those that host the giant Broken Hill orebody. The
Company now holds exploration tenements covering over 100 kilometres of strike length of these prospective corridors and is systematically exploring a series of priority targets.
The Broken Hill orebody is the world's largest and highest grade base metal deposit. A
discovery that is 10% the size of Broken Hill could create a significant mining company.
Initial work has focused on shallow near surface mineralisation suitable for open cut mining. There are numerous outcrops of BHT mineralisation located within rock types capable of hosting a Broken Hill orebody. All the Company's projects are within 50 kilometres of the city of Broken Hill and its well establish infrastructure including two large operating processing plants. This scenario allows for an early start mining operation from a shallow discovery.
More than 50% of the mineralised corridors are under alluvial cover and the outcropping mineralisation has the potential to develop with depth. Silver City has commenced a programme of airborne electromagnetic surveys to search for non-outcropping orebodies.
With the difficult market conditions for the exploration sector over the last 2 years a range of opportunities have emerged and the SCI team has maintained a watching brief for exceptional projects that have the potential for an early discovery.. As a result the Company entered into a joint venture with a private consortium to explore a potentially large gold- copper target in north-east Queensland. The Company has recently completed an extensive IP geophysical survey that has established intense chargeability anomalies beneath an eluvial goldfield that is typical of a sulphide bearing intrusive system.
The Company is fortunate to have a small but highly experienced team of professionals with outstanding track records to manage the complex geological settings, deliver high quality drill targets and complete effective and efficient exploration programmes.
Details of the Company's exploration activities over the past year are given in the annual report. Chris Torrey, the Managing Director, will present to the meeting further insight into the results achieved in the past year and the focus for testing mineralisation in the coming year.
Bob Besley
Chairman

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