TSX/TSXv Silver Miner Valuation Metrics

Closing Market Prices: 19 June 2013. Sedar updates as available at market close.

Seabridgegold.net

Gran Columbia Gold

Silver Producers Metrics

Company		Ticker(s)		Price (US$)	FDS Est. (M)	NWC (M US$)	Au+Ag Resource						Avg Ore Value (US$/t)	EV/AuEqOz (US$)
Company		Cdn	US	Price (US$)	FDS Est. (M)	NWC (M US$)	M Oz AuEq	%Au	%Ag	%PP	%MI	%I	Avg Ore Value (US$/t)	EV/AuEqOz (US$)

Alexco Resource Corp.		AXR.TO	AXU	1.14	62.0	22.8	0.98	3	63	0	86	13	343	32
Arian Silver Corporation		AGQ.V		0.09	315.9	2	1.85		77	0	26	73	99	10
Coeur d'Alene Mines Corporation		CDM.TO	CDE	13.28	105.5	495.1	18.53	25	61	28	50	21	44	42
Endeavour Silver Corp.		EDR.TO	EXK	3.76	102.7	43.1	3.52	36	64	16	41	42	172	95
First Majestic Silver Corp.		FR.TO	AG	10.34	117.6	111.2	7.55		75	19	36	44	151	111

Goldcorp Inc.		G.TO	GG	26.21	813.1	2290.8	144.47	64	14	59	21	19	52	102
Great Panther Silver Limited		GPR.TO	GPL	0.78	138.8	42.2	0.43	25	61	0	37	62	339	133
Impact Silver Corp.		IPT.V		0.61	69.4	16.8	0.15	12	46	0	94	5	66	98
Pan American Silver Corp.		PAA.TO	PAAS	11.52	151.5	822.1	23.3	13	85	31	50	18	79	39
Scorpio Mining Corporation		SPM.TO		0.37	199.0	44.6	1.28	4	50	2	78	19	99	12

Silver Standard Resources Inc.		SSO.TO	SSRI	6.75	80.8	604.2	28.36	11	68	24	56	18	39	-1
Silvercorp Metals Inc.		SVM.TO	SVM	2.64	171.1	86.8	3.73	5	48	24	46	28	144	52
SilverCrest Mines Inc.		SVL.V	STVZF	1.71	112.7	50.2	3.09	21	41	20	9	70	49	28
U.S. Silver & Gold Inc.		USA.TO	USGIF	0.83	75.8	12	0.89	5	55	40	28	30	426	31

Silver Developers Metrics

Company		Ticker(s)		Price (US$)	FDS Est. (M)	NWC (M US$)	Au+Ag Resource						Avg Ore Value (US$/t)	EV/AuEqOz (US$)
Company		Cdn	US	Price (US$)	FDS Est. (M)	NWC (M US$)	M Oz AuEq	%Au	%Ag	%PP	%MI	%I	Avg Ore Value (US$/t)	EV/AuEqOz (US$)

Bear Creek Mining Corporation		BCM.V		1.47	93.1	64	9.01		58	58	28	13	45	4
Golden Queen Mining Co. Ltd.		GQM.TO	GQMNF	1.11	99.8	2.8	3.3	81	23	30	64	4	20	32
MAG Silver Corp.		MAG.TO	MVG	6.25	60.3	37.9	2.91	11	36	0	43	56	119	55
Minco Silver Corporation		MSV.TO	MISVF	0.69	59.0	66.1	2.4	6	82	25	43	30	111	-8
Rye Patch Gold Corp.		RPM.V	RPMGF	0.34	147.5	1.2	3.32	82	19	0	70	29	19	14

Telson Resources Inc.		TSN.V	SOHFF	0.03	226.2	-0.4	0.87	41	13	0	72	27	176	5

Silver Explorers Metrics

Company		Ticker(s)		Price (US$)	FDS Est. (M)	NWC (M US$)	Au+Ag Resource						Avg Ore Value (US$/t)	EV/AuEqOz (US$)
Company		Cdn	US	Price (US$)	FDS Est. (M)	NWC (M US$)	M Oz AuEq	%Au	%Ag	%PP	%MI	%I	Avg Ore Value (US$/t)	EV/AuEqOz (US$)

Almaden Minerals Ltd.		AMM.TO	AAU	1.52	61.7	16	3.22	53	47	0	56	43	44	23
Cream Minerals Ltd.		CMA.V	CRMXF	0.01	155.3	0.1	0.15	27	72	0	69	30	129	8
Paramount Gold and Silver Corp.		PZG.TO	PZG	1.37	155.5	18.7	9.42	75	28	0	59	40	20	20
Sabina Gold & Silver Corporation		SBB.TO		0.99	189.0	122.2	7.61	86	13	0	66	33	204	8

See Terms for definition of the table columns.