SILVER INSTITUTE MEMBERSHIP ELECTS NEW OFFICERS

(Washington, DC – August 21, 2024) Mr. Octavio Alvidrez, CEO of Fresnillo Plc (LSE/BM: FRES), headquartered in Mexico City, has been elected Chairman of the Silver Institute by its membership for a second term, having previously served as Chairman from 2017-2018. Also, Mr. Dale Andres, CEO of Gatos Silver (NYSE/TSX: GATO) based in Vancouver, British Columbia, was elected Vice Chairman of the Silver Institute. Mr. Alvidrez and Mr. Andres will each serve one-year terms.

Additionally, Mr. Michael DiRienzo was re-elected President and CEO, and Mr. Carlos Quiroga and Mr. Jeff Melody, both of Coeur Mining (NYSE: CDE), based in Chicago, were re-elected Treasurer and Assistant Treasurer of the Silver Institute, respectively.

Mr. Alvidrez commented, “I look forward to working with the membership of the Silver Institute and the global silver marketplace on raising the profile of and demand for silver, and especially to highlighting the important role silver plays in many green technologies, such as solar energy and electric vehicles.” Mr. Alvidrez added, “I would like to thank Phillips Baker, the former Chairman of the Silver Institute, who recently retired as President and CEO of Hecla Mining (NYSE: HL), for the excellent job he did on behalf of our members and for our metal.”

Brief Bios

Octavio Alvidrez

Mr. Alvidrez joined the Peñoles Group in 1988 and has held several senior operating and financial positions across Peñoles and Fresnillo, including serving as Concentrate Purchasing Head for Met-Mex smelter and refining complex, Group Treasurer, Lead Coordinator for Fresnillo’s IPO at the LSE, London Office Head and General Manager of the Madero Mine, one of Mexico’s largest mines. He holds a Bachelor’s Degree in Mining Engineering from the University of Guanajuato Mexico and received his MBA from the Wharton School of Business at the University of Pennsylvania.

Dale Andres

Mr. Andres joined Gatos Silver in 2021 and has more than 30 years of executive and operating experience in the resource industry. Mr. Andres also serves on the Board of Directors of Artemis Gold Inc. Mr. Andres previously served as Senior Vice President, Base Metals at Teck Resources Limited and was responsible for both the Copper and Zinc business units globally. He holds a Bachelor’s Degree in Mining Engineering from Queen’s University and a Graduate Diploma in Business Administration from Simon Fraser University.

The Silver Institute is the silver industry’s primary voice in expanding public awareness of silver’s essential role in today’s world, especially in green applications. Its mandates are to provide the global market with reliable statistics and information on silver and create and execute programs that help drive silver demand. For more information on silver, including its use in the green economy, please visit www.silverinstitute.org.