EXPLORE. PRODUCE. PROFIT!MARCH 2012

TSX-V: IPT ������������� ���������������������

DISCLAIMERExcept 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 IMPACTmanagement. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but notlimited 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-timeevents. 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 suchfuture 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.

George Gorzynski, P.Eng., a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical information in this presentation.

INVESTMENT HIGHLIGHTS

EXPLORE. PRODUCE. PROFIT! • Three 100% owned producing silver mines in Mexico

• Consistently profitable operations with 5+ years of production & profitability

• Strong asset base with two adjacent 100% owned districts

• Open-Pit Capire Project scheduled to commence production in late 2012

• Recent discovery of potential new gold district in the Huatecosco Gold Project

• $7 Million, 35,000 meter exploration drill program for 2012

• 90% of revenues is pure, un-hedged silver

• Strong cash position with over CAD$33M and Zero Debt

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FINANCIAL SNAPSHOT

Proven track record of profitable & rapid mine development

• Revenues have increased 138% from 2006 to 2010

• Earnings have increased 253% from 2006 to 2010

• Earnings per Share have increased 133% from $0.03 to $0.07 from 2006 to 2010

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PROJECT LOCATION MEXICO100% Owned 623km² Prolific Mining District spanning two Mexican States

Zacualpan Silver DistrictState of Mexico• 423km² with three producing mines & 500 TPD Processing Plant

Mamatla Silver District State of Guerrero• 200km² with open-pit mine scheduled for pilot production late 2012

The project is located 100 kilometers southwest of Mexico City & 25 kilometers northwest of the well-known Taxco Silver Mine

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HISTORIC CORE ASSET BASENearly 500 years of Mining History in the two Districts

• To date, over 2,500 old mine workings have been mapped & are being currently being explored

• Positive exploration results identified the three current producing mines, originally old mine workings

• The skilled and successful IMPACT Silver exploration team holds a proven mine development track record:• 2008 – Chivo Mine Development• 2009 – San Ramon Mine Expansion• 2010 – Noche Buena Mine Development• 2011 – Capire Mine Development

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GUADALUPE PROCESSING PLANT

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500 TPD Guadalupe Processing Plant located in the Zacualpan District

• Flotation circuit capacity recently expanded to accommodate additional mineral feed

• Annual production levels of ~1 million pure silver ounces

• Currently operating near capacity of 440 TPD

• Excellent infrastructure:• Modern power grid• Paved highway access• Abundant water supply• Highly qualified Mexican work force

MINES IN PRODUCTIONThree silver mines in Zacualpan District feed the 500 TPD Guadalupe Processing Plant

Chivo Mine• Mining began in 2007• Medium grade epithermal silver veins

San Ramon Mine• Mining began in 2008• High-grade epithermal silver veins

Noche Buena Mine• Mining began in 2010• High-grade epithermal silver veins

• Excellent mining conditions, with average silver grades of 200 g/t and a historic average cost per ounce silver of $9 less lead-zinc credits

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MINES IN CONSTRUCTIONMines scheduled to move into production2012Capire Open-Pit Mine• NI 43-101 Resource Estimate completed January 2011• Pilot production of ~250,000 oz from 200 TPD mill• Low-cost, open-pit mine in the Mamatla Mineral District• Medium and high-grade VMS silver deposits • 5,000 meter expansion drilling program underway

2013Oscar Mine• Corridor of multiple high-grade epithermal silver veins• Being studied for production in 2013

2014Huatecosco Gold Mine• Extensive 15,000 meter drilling program planned for

Huatecosco area in 2012• Potential new gold-copper district• Major structure with inferred strike length currently

mapped at 16 kilometers

Capire Open-Pit Mine construction commenced January 2012, production scheduled for late 2012

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LONG TERM STRATEGY

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To become a Multimillion Ounce Silver Producer with Multiple Processing Centers

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Guadalupe Mining & Processing Centre• Oscar Mine Project being studied for production in 2013, will feed Guadalupe mill

• Ongoing high-grade silver exploration• Current ore feed from Chivo, San Ramon,& Noche Buena Mines

Capire Mining & Processing Centre• Capire Open-Pit Project scheduled for production in late 2012 through 200 TPD pilot plant

• 5,000 meter drill program underway to determine size of permanent mill

Huatecosco Mining & Processing Centre*• Potential new gold district• Expansive 15,000 meter drill program underway to determine economic feasibility of future mill

• Significant drill results from multiple targets*Future

Southeast Mining & Processing Centre* • Early exploration stage• Currently mapping numerous historic old mine workings

*Future

SILVER PRODUCTION

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9 Months Ended Sept 30th 2011 YE 2010 YE 2009 YE 2008

Silver (oz) 663,853 750,259* 823,571 645,668

Lead (t) 589 734 969 813

Zinc (t) 1,000 1,212 1,098 1,053

Revenue per production tonne sold $208 $123 $110 $90

Direct cost per tonne produced $76 $63 $60 $55*Silver production was marginally down 9% because the Company reduced the cut-off grade of the ore mined due to higher silver prices in 2011

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2012 2013 2014 2015

Pure Silver

Milli

ons

(Oz)

PRODUCTION FORECAST

• Silver production increased by 250% from 2007 - 2011• Organic growth with low-cost production averaging $70

per tonne• Revenue per tonne increased 37% vs. increase in

production cost of 15% from 2008 - 2010

CAPIRE OPEN-PIT PROJECT

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CAPIRE PROJECTRepresents new mine operations in the new Mamatla Mineral District

• Construction of 200 TPD pilot plant underway as of January 2012

• Annual production from pilot plant is200,000 to 300,000 pure silver ounces from 200 TPD plant

• 5,000 meter drill program for 2012 is planned for the Capire zone to define metallurgy and determine permanent plant size

CAPIRE OPEN-PIT PROJECT 5000 m Drill Program to expand Capire Zone in 2012• Numerous old mine workings & VMS targets to be drilled in area surrounding the Capire Zone

• Each triangle represents rock sample containing 500 g/t silver and/or 10% zinc

• Multiple epithermal silver veins discovered north of Capire Zone

• Capital expenditure for balance of construction of Capire Project is budgeted at $5M

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CAPIRE OPEN-PIT MINE DESIGN

CAPIRE OPEN-PIT DEVELOPMENT PLAN• 2012 200,000 to 300,000 silver ounce production from 200 TPD & 5,000 meter drill program to

expand the zone to the north, west and east directions• 2013 In-house feasibility study for expanded plant sizing• 2014 Construct 800 to 1,500 TPD processing plant

3D Model ofCapire Open-Pit

Areas of Phase 2 drill program

Area of defined NI 43-101 ResourcesOpen for expansion

Open for expansion

Open for expansion

Tailings Facility

Processing Plant Site

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CAPIRE PROJECTNI 43-101 RESOURCE ESTIMATE

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Metal Content for Capire ProjectAg (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 Table 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

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

Grand Total Total Inferred 371,066 36.54 0.161 0.06 0.28 0.71

• 5,000 meter drill program in 2012 to expand the Capire Zone• Construction of the Capire Open-Pit Mine and installation of pilot plant commenced January, 2012

MINE DEVELOPMENT OPPORTUNITIES

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OSCAR PROJECT

The Oscar Project is a corridor of multiple high-grade silver veins linking the past-producing Cuchara & Santa Lucia Mines

• Significant mineralization within multiple veins in a wide vein corridor

• Drill results are being studied with potential to fast track the Oscar into production in 2013

OSCAR PROJEC

OSCAR PROJECTOscar - Santa Lucia CorridorZacualpan District

• Pre-existing mining infrastructure and a short transport distance to the Guadalupe mill contribute to low-cost mining operations in this zone

• Mineralization expands to the north, connecting with the Cuchara Mine and to the south, connecting with the Santa Lucia mineralization

• Drill highlights of 291 g/t silver over 30meter width and1,007 g/t over 5.65 meterwidth

DRILLING HIGHLIGHTSOSCAR CORRIDOR

Drill Hole Interval(m)

Ag(g/t)

Au(g/t)

Pb(%)

Zinc(%)

Z11-44 31 291 0.01 0.1 0.4

Including 0.3 6,730 0.20 1.5 8.0

Z11-46 5.7 1,007 0.07 0.5 1.1

Including 2.8 1,128 0.51 0.9 1.4

SANTA LUCIA ZONE

Z09-47 3.2 467 0.01 0.2 0.7

Z09-53 2.4 419 0.03 0.3 0.3

Z10-03 1.1 588 0.05 0.4 2.0

Including 1.7 394 0.07 1.1 1.6

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EXPLORATION OPPORTUNITIES

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HUATECOSCO GOLD PROJECT

The Huatecosco Project is a potential new gold district

• Significant mineralization within multiple targets in the Huatecosco Pedro Zone:

• Carlos Pacheco (Au)• Huatecosco Vein System (Au)• Noche Buena (Ag)• Pilarica (Au, Ag)• San Juan (Au)• Santa Teresa (Au)

• Expansion drilling of 15,000 meters in 2012 is underway to determine economic feasibility of a future mill

HUATECOSCO GOLD PROJECTHuatecosco Gold ProjectNoche Buena Zone/Northwest District• A large gold and silver vein system discovered

southwest of Guadalupe Processing Plant

• Huatecosco is a main structure striking 16 km in length with multiple splays of gold-rich mineralization

Carlos Pacheco ZoneNoche Buena Zone/Northwest District• Significant gold-copper drill results include 19.6 g/t

gold across 2.9 meters• Open at depth with expansion drilling continuing to

substantiate that a gold-copper district lies underneath the Zacualpan Silver District

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DRILLING HIGHLIGHTSHUATECOSCO GOLD PROJECT

Drill Hole Interval(m)

Au (g/t)

Ag(g/t)

Cu(%)

Zinc(%)

Z11-20 9.5 3.97 48.7 -- 2.6

Including 4.2 6.96 84.3 -- 5.1

Z11-17 4.7 3.44 117.6 -- 0.8

Z11-48 4.1 5.22 30.1 0.7 1.8

Including 0.8 25.0 50.1 0.5 1.6

CARLOS PACHECO ZONE

Z08-68 2.9 19.6 68 0.3 0.1

Including 1.0 49.7 59 0.3 0.1

Z08-65 2.1 11.3 18 -- --

Including 1.2 18.8 24 -- --

MINE DEVELOPMENT PROCESS

• Targets are generated by mapping and sampling of old workings

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Identify and Map Old Mines and Workings

Phase 1 & 2 Drilling

Mine Planning, Permitting andConstruction

Surface and Underground Sampling, Detailed Mapping

Production

More than 2,500 Mapped

Narrowed down to 500+Prospects for follow up

• Condesa

• Huatecosco

• Pilarica

• Capire North

• Chivo

• San Ramon

• Noche

Buena

• Capire

• Oscar

• Santa Lucia

First Drill Hole to Production: 12 – 24 Months

5 STAGE MINE DEVELOPMENT PROCESS

(Chivo, San Ramon Extensions, Noche Buena)

$7 Million, 35,000 meter Exploration Drill Program in 2012

OPTION AGREEMENT DEFIANCE SILVER CORP (TSX-V:DEF)PRODUCTION• IMPACT optioned its Veta Grande Project in Zacatecas, Mexico, to

Defiance Silver Corp in September, 2011 • Zacatecas Mineral District historical production is over 700M oz

silver• 200 TPD Santa Gabriela Processing Plant &10 mineral

concessions optioned to Defiance for cash and major share position

PROJECTSVeta Grande Project• Commencing production by mid 2013 • Veta Grande vein historically produced over 200M oz silver

San Acacio Mine• 10 concessions consisting of 746 ha• Mine controls ~45% of the Veta Grande vein• Currently defining feed for the Santa Gabriela plant

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San Acacio Mine

Santa Gabriela Processing PlantM

DeZa

CORPORATE SUMMARY

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9 Months Ended Sept 30th 2011 YE 2010 YE 2009 YE 2008

Revenue $19.4 $16.7 $12.2 $8.9

Net Earnings $6.9 $3.4 $1.6 $.66

Cash Flow from Operations $9.1 $5.6 $4.4 $1.7

Cash & Cash Equivalents $33.7 $18.7 $5.3 $5.4

EPS $0.11 $0.07 $0.02 $0.01

Shareholder Breakdown

Institutional 35%

Retail 60%

Management 5%

Stock Information

• Recent Share Price $2.05• Market Capitalization 139M

Largest Shareholders

• Sprott Asset Management 12%• Energold Drilling Corp 11%

SHARE PRICE PERFORMANCE – One Year

Source: Yahoo Finance, March 2012SourSourS ce:ce: YahoYahoo Fio Financnance Me, M, archarch 201 2010 22

Recent Share Price: $2.05Shares Outstanding – Basic: 68MShares Outstanding – Fully Diluted: 73M

52wk Range: $1.26 - $3.14Avg Vol (3m): 120,000Warrants: Nil

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PROVEN PROFITABILITY

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($C

DN

)

YearCAPITAL EXPENDITURE USE EFFICIENCY ($CDN)*

Total funds raised since start of operations in January,

2006

Property payments, plant & equipment, and exploration expenditures Cash Available

$28 Million $38 Million $33.7 Million*Estimated projection based on in-house estimates

$(5,000,000)

$-

$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 Flow

PROJECTED*

BOARD OF DIRECTORSPROVEN LEADERSHIP Frederick W. Davidson (CA) President, CEO & Director

Held senior management positions with Erickson Gold Mines Ltd. and TOTAL Energold Corp. Part of the management team that took both the Erickson and Mt. Skukum Gold mines from discovery to production. Currently President of Energold Drilling Corp. (TSX-V: EGD).

George A. Gorzynski (P.Eng) VP Exploration & DirectorDirector of Tirex Resources Ltd., Defiance Silver Corp., Rupert Resources Ltd. and Berkwood Resources.

H. Walter Sellmer (P.Geo) DirectorHeld senior management positions with Amax Exploration, Canamax Resources and TOTAL Energold Corp.

Victor A. Tanaka (P.Geo) DirectorExecutive VP &COO of Bayswater Uranium Corp and Director of several TSX-V mineral exploration companies.

Richard J. Mazur (P. Geo, MBA) DirectorHolds senior positions in Alto Ventures Ltd. and Forum Uranium Corp.

Peter Tredger (P. Eng, MBA) DirectorPast Vice President of Thompson Creek Metals Company Inc. and held senior management positions at Glencairn Gold Corp. and Wheaton River Mineral Ltd.

Jean-Pierre Boutin (MBA) Director President and Money Manager in a private equity firm in Greenwich, Connecticut, former Treasurer of Xerox Corporation, Emerging Markets.

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2012 OUTLOOK• Commence open-pit production at the Capire Project through the 200 TPD pilot plant

• Expand Capire Zone in the north, east and south directions with a 5,000 meter drill program

• Maximize production at Zacualpan’s Guadalupe Processing Plant to 500 TPD

• Accelerate the Oscar Project into production, which is planned to feed high-grade silver ore to the 500 TPD Guadalupe Processing Plant

• Explore potential of the Huatecosco Gold Project and continue exploration of gold-copper and silver targets with a 15,000 meter drill program

• Pursue accelerated growth through aggressive results-driven exploration and potential accretive acquisitions

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For more information please contactMeghan Brush, Investor Relations

+1 604 681 0172inquiries@impactsilver.com