Corporate Presentation September 28, 2015

Corporate Presentation September 28, 2015

DISCLAIMER This presentation contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include but are not limited to the Company's plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico and Peru, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forwardlooking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Annual Information Form for the year ended December 31, 2014 and Material Change Reports filed with the Canadian Securities Administrators available at www.sedar.com, and reports on Form 40-F and Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as expects, anticipates, plans, projects, estimates, assumes, intends, strategy, goals, objectives, potential or variations thereof, or stating that certain actions, events or results may, could, would, might or will be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Robert Brown, P. Eng. is the Qualified Person under NI 43-101 for the projects discussed in this presentation. 2

CAUTIONARY NOTE TO U.S. INVESTORS The terms "Measured resource", "Indicated resource" and "Inferred resource" used in this document are Canadian mining terms as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ( NI 43-101 ) and CIM Standards on Mineral Resources and Mineral Reserves. Mineral resources that are not mineral reserves have not been demonstrated to be economically and legally extractable. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. It should not be assumed that all or any part of a resource will ever be converted to a reserve. The mineral resource estimates presented herein include Inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these Inferred resources will be converted to Measured and Indicated resource categories through further drilling, or into mineral reserves once economic considerations are applied. We advise U.S. Investors that while the terms "Measured resource", "Indicated resource" and "Inferred resource" are recognized and required to be reported by Canadian regulations, the U.S. Securities and Exchange Commission ("SEC") does not recognize these terms and does not normally permit such terms to be used in reports and registration statements filed with the SEC. As such, information contained in this document concerning descriptions of mineralization and resources under Canadian standards may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC. Inferred resources have a great amount of uncertainty as to their existence and a great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of a Measured, Indicated or Inferred resource will ever be upgraded to a higher category. U.S. investors are cautioned not to assume that any part or all of an Inferred mineral resource exists, or is economically or legally mineable. U.S. investors are also cautioned not to assume that any part or all of the mineral deposits in the Measured resource or Indicated resource categories will ever be converted into reserves. 3

BUILDING A FOUNDATION FOR GROWTH SILVER-GOLD PRODUCER STRENGTH DISCIPLINED GROWTH Focused on precious metals (>90%) with some diversity provided by base metals Two 100% owned mining operations in Mexico; potential for production in Peru Strong balance sheet; no debt; C$19.4M cash, C$33.9M working capital 1 Significantly lowered cost/oz through higher grades and operational efficiencies Production increasing at existing mines Two new advanced stage projects 1. As at June 30, 2015 4

RECORD PRODUCTION 1,200,000 120,000 1,000,000 800,000 600,000 100,000 80,000 60,000 3.8 3.9 Guidance 400,000 40,000 200,000 20,000 0 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 0 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Silver equivalent ounces Tonnes Milled Record production quarter over quarter = increased guidance for 2015 Fewer tonnes milled with higher grades = increased production with lower cost/oz 5

DECREASE IN COSTS $25.00 $30.00 $20.00 $15.00 $10.00 $15.03 $11.02 $12.23 $8.71 $6.63 $25.00 $20.00 $15.00 $10.00 $24.40 $19.95 $21.46 3.8 3.9 Guidance $14.47 $12.54 $5.00 $5.00 $- Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 $- Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Total cash cost per Ag oz (USD) All-in sustaining cost per Ag oz (USD) Average realized silver price (USD) Average realized silver price (USD) Cost per ounce has improved due to increased grades, better grade control and stronger USD 6

RECENT FINANCIAL PERFORMANCE $25,000 $25.00 $8,000 $25.00 $20,000 $15,000 $10,000 $20.00 $15.00 $10.00 $7,000 $6,000 $5,000 $4,000 $3,000 3.8 3.9 Guidance $20.00 $15.00 $10.00 $5,000 $5.00 $2,000 $1,000 $5.00 $- Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 $- $- Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 $- Revenue (CAD in thousands) Gross profit before non-cash items (CAD in thousands) Average realized silver price (USD) Average realized silver price (USD) Increased revenue and gross profit in 2015 despite declining metal prices, achieved through significant reduction in cash cost Maintained strong balance sheet, no debt 7

MEXICO & PERU Top silver producing countries in Latin America 8

GUANAJUATO DISTRICT (Ag-Au) One of Mexico s most historic mining districts with past production of more than one billion Ag oz over 400 years Expanding production at Guanajuato Mine Complex (GMC), developing new mines and exploring the district Commercial production at San Ignacio commenced June 2014 & currently producing at 370 tonnes per day El Horcon has potential to be another satellite operation 9

GUANAJUATO MINE (Ag-Au) Historic underground mine with two operating shafts & three ramps Currently mining & developing to 600m depth on several zones over 4km strike length Higher cut-off grades & improvements in grade control have lowered costs Ag-Au concentrate shipped to smelters in Japan & Germany * For details on Mineral Resource Estimates, refer to slide 38 10

GUANAJUATO MINE COMPLEX (Ag-Au) Accounts for 75% of total production 1 Metal Production (Ag eq oz 1,2 ) Silver Production (Ag oz 1 ) Q2 2015 818,841 482,551 Recoveries Ag/Au 90.5% / 91.0% Average Grades Cash Cost/Ag oz 2,3,4 All-in Sustaining Cost/Ag oz 2,3,4 233g/t Ag 2.49g/t Au US$4.88 US$8.93 Ore processed (tonnes) 71,131 1. Includes all mill feed from San Ignacio. 2. Silver equivalent ounces for 2015 are calculated using a 65:1 Ag:Au ratio. 3. Cash cost per silver payable ounce and all-in sustaining cost per silver payable ounce ( AISC ) are non-ifrs performance measures. Refer to the Non-IFRS Measures section of the Company s MD&A for an explanation of these measures and reconciliation to the Company s reported financial results in accordance with IFRS. As these are not standardized measures, they may not be directly comparable to similarly titled measures used by others. 4. As at June 30, 2015 11

SAN IGNACIO MINE (Ag-Au) Ramp access from surface. Ore trucked 22km to Cata Plant in Guanajuato Accounted for 31% of the overall metal production from the GMC in Q2 2015 Significant potential for resource expansion over 4km strike length Currently producing at 400 tpd, expanding to approx. 450 tpd by year end Q2 2015 Metal Production (Ag eq oz 1 ) 250,127 Ore processed (tonnes) 25,397 1. Silver equivalent ounces for 2015 are calculated using a 65:1 Ag:Au ratio. 12

SAN IGNACIO MINE (Ag-Au) Updated Resource 1 Previous resource block New resource area Indicated Resources: 180,300 tonnes @ 159g/t Ag (924,100 Ag oz) & 3.49g/t Au (20,220 Au oz), for 2,351,000 Ag eq oz (31% increase) Inferred Resources: 787,800 tonnes @160g/t Ag (4,060,000 Ag oz) & 3.26g/t Au (82,680 Au oz), for 9,897,000 Ag eq oz (162% increase) 1. Mineral Resource Estimate for San Ignacio used a December 15, 2014 effective date, with metal price outlook of US$17.00/oz silver and US$1,200/oz gold. Silver to gold ratio is 70.6:1. 13

TOPIA MINE (Ag-Pb-Zn-Au) Property covers most of district more than 6,500 hectares High grade, narrow vein underground mining with central plant Operating 9 separate mines provides flexibility Expanding production at profitable mines, temporarily closing others Lead and zinc concentrates sold to metal trader in Mexico Recently increased M&I Resources by 41%, Inferred Resources by 29% 14

TOPIA MINE (Ag-Pb-Zn-Au) Accounts for 25% of total production Metal Production (Ag eq oz¹) Ag Production (Ag oz) Recoveries Average Grades Ag/Au Pb/Zn Cash Cost/Ag oz 2,3 All-in Sustaining Cost/Ag oz 2,3 Q2 2015 269,514 166,258 90.5% / 59.2% 94.3% / 94.6% 350g/t Ag, 0.48g/t Au 1.95% Pb, 3.17% Zn US$12.14 US$13.77 Ore processed (tonnes) 16,345 1. Silver equivalent ounces for 2015 are calculated using a 65:1 Ag:Au ratio, and ratios of 1:0.050 and 1:0.056 for the price/ounce of silver to lead and zinc price/pound. 2. Cash cost per silver payable ounce and all-in sustaining cost per silver payable ounce ( AISC ) are non-ifrs performance measures. Refer to the Non-IFRS Measures section of the Company s MD&A for an explanation of these measures and reconciliation to the Company s reported financial results in accordance with IFRS. As these are not standardized measures, they may not be directly comparable to similarly titled measures used by others. 3. As at June 30, 2015 15

ANNUAL PRODUCTION GROWTH 4,500,000 4,000,000 3,500,000 3,000,000 2,840,846 3,187,832 GUIDANCE 3,800,000-3,900,000 3.8 3.9 Guidance 2,500,000 2,000,000 2,200,013 2,378,603 1,500,000 1,000,000 500,000 0 2011 2012 2013 2014 2015E Silver Equivalent Ounces 16

2015 OUTLOOK Production and cash cost guidance 2015 Guidance (Revised) FY 2014 Actual Total silver equivalent ounces 1 3,800,000 3,900,000 3,187,832 Cash Cost per silver payable ounce (USD) 2 $9.00 $10.00 $12.78 AISC (USD) 2, $15.00 $17.00 $22.07 1. Silver equivalent ounces for 2015 guidance have been calculated using a 65:1 Au:Ag ratio, and ratios of 1:0.05 and 1:0.056 for the US dollar price of silver ounces to the US dollar price for lead and zinc pounds, respectively. These ratios will be applied consistently for the reporting of silver equivalent ounce production for 2015. 2. Cash cost and AISC are non-ifrs measures. Refer to the Non-IFRS measures section of the Company s MD&A for complete definitions and reconciliations to the company s financial statements. 17

A CONTRARIAN APPROACH TO GROWTH Downturn in mining industry has presented significant acquisition opportunities at discounted prices More than 100 projects and 30 public companies evaluated Rather than buying outright, taking an option approach to acquisitions is non-dilutive and preserves cash Opportunity to de-risk projects before making final commitment No need to consider production financing until markets improve 18

PROJECT PIPELINE EARLY STAGE EXPLORATION EL HORCON ADVANCED STAGE EXPLORATION CORICANCHA (option) DEVELOPMENT GUANAJUATO/ 3.8 SAN 3.9 IGNACIO Guidance PRODUCTION TOPIA SANTA ROSA GUADALUPE DE LOS REYES (option) Pipeline of projects at various stages of exploration & development provides growth opportunities Option payments and project expenditures to date funded out of cash flow 19

PIPELINE TO PRODUCTION New advanced stage projects present opportunity for two new mines within 4-5 years Coricancha provides a near-term production opportunity which we can use as a foundation for future growth in Peru We have until 2017 under both option agreements to de-risk and advance projects & assess economic potential Production history at Coricancha & PEA at GDLR indicate potential for approx. 6 million Ag eq oz per year at full capacity Significant resource base with exploration potential on both projects 20

CORICANCHA Au-Ag-Pb-Zn-Cu MINE Underground mine owned by Nyrstar. Placed on Care & Maintenance in August 2013 90km east of Lima in prolific mining district Operating history dating back to 1906 Fully permitted, with a 600 tpd operational processing plant 80% precious metals, 20% base metals GPR drilling in 2015/16 to update Mineral Resource Estimate 21

CORICANCHA HISTORICAL RESERVES & RESOURCES Historical Reserve & Resource Estimate 1 Proven & Probable Reserves: 640,000 tonnes @ 4.35g/t Au, 149g/t Ag, 1.77% Pb, 2.60% Zn, 0.32% Cu (13,500,000 Ag eq oz) Measured & Indicated Resources: 890,000 tonnes @ 5.04g/t Au, 175g/t Ag, 1.97% Pb, 3.11% Zn, 0.42% Cu (21,960,000 Ag eq oz) Inferred Resources: 4,880,000 tonnes @ 4.91g/t Au, 225g/t Ag, 1.57% Pb, 2.98% Zn, 0.48% Cu (124,600,000 Ag eq oz) 1. Effective date December 31, 2012; Based upon $22.00/oz silver, $1,300/oz gold, $6,300/tonne copper, $2,250/tonne lead and zinc. M&I Resources are inclusive of Reserves 22

CORICANCHA OPTION AGREEMENT TWO-YEAR OPTION FOR 100% INTEREST Cash: On signing (paid) 1 st Anniversary (May 2016) Work commitments: Year 1 Year 2 Cash on closing of SPA (after exercise of option) Total 1 Consideration (USD) $1.5 M $1.5 M $2 M $3 M $5 M $8 M Cash $5 M Work 1. Additional $4 million contingent payment upon Nyrstar meeting certain conditions Great Panther will conduct surface & underground drilling & sampling, mine development and plant tests Nyrstar retains ownership, costs of Care & Maintenance, and all liabilities, for 2-year option period 23

GUADALUPE DE LOS REYES (GDLR) PROJECT (Au-Ag) 200km north of Mazatlan in prolific Sierra Madre Occidental mining belt Past producing district dating back to 18th century Historical production of more than 600,000 oz Au & 40,000,000 oz Ag, averaging 12g/t Au and 900g/t Ag Historical PEA (2013) and compliant resource Significant underground / open pit production potential 24

GDLR MINERAL RESOURCE ESTIMATE Current Mineral Resource Estimate used open pit model but grade will increase for underground model. Indicated Resources: 6.8 Mt @ 1.73g/t gold and 28.71g/t silver 380,100 oz gold, 6,315,300 oz silver (31,021,800 Ag eq oz) Inferred Resources: 3.2 Mt @ 1.49g/t gold and 34.87g/t silver 155,200 oz gold 3,639,000 oz silver (13,727,000 Ag eq oz) * Indicated and Inferred Mineral Resources were defined using a cut-off grade of 0.5g/t Au 25

GDLR OPTION AGREEMENT & WORK PROGRAM Option from Vista Gold to acquire 100%, subject to underlying royalties Can complete First Option for 70% interest by making cash payments of US$1.5M in Jan 2016 and US$2.5M in Jan 2017 Can acquire remaining 30% by making production decision & paying US$3M plus escalator tied to increase in M&I resources and gold price Additional drilling to update and increase grade of Mineral Resource; New Mineral Resource Estimate by end of 2015 Complete pre-feasibility study for combined open pit / underground mine scenario by end of 2016 26

CAPITAL STRUCTURE Shares issued 141,712,605 Fully diluted 153,302,125 Institutional ownership ~8% Market capitalization 90-day daily average trading volume 52-week trading range TSX NYSE MKT CA $76.5 M ~1,000,000 shares CA $0.40 - $1.39 US $0.30 - $1.27 Cash position* Net working capital 1 CA $19.4 M (no debt) CA $33.9 M Analyst Coverage: Euro Pacific Capital Inc., Rodman & Renshaw, Salman Partners Inc., Hallgarten & Company, Eurobank EFG Updated on September 16, 2015 1. As at June 30, 2015 27

LEVERAGED TO SILVER 1000% 800% 600% 400% GPR % AG % 200% 0% -200% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Great Panther Silver 28

2015 OBJECTIVES OBJECTIVES Produce 3.5 to 3.6 million Ag eq oz Further reduce operating costs & overheads; improve grade control & operating efficiencies Continue production ramp up and development on higher Ag/Au grades in the San Ignacio south extension Complete permitting of El Horcon Project, Guanajuato Pursue and analyze acquisition targets PROGRESS Q2 2015 achieved record metal production of 1,088,355 Ag eq oz Q2 2015 cash cost decreased to US$6.63/Ag oz and AISC to US$12.54/Ag oz Record production in Q2 Permitting for Phase II exploration and exploitation underway Optioned Coricancha Mine in Peru; Acquired Cangold Limited & option on GDLR Au-Ag Project 29

WHY GREAT PANTHER SILVER? Low cost producer with strong leverage to silver price Strong balance sheet, no debt Successfully grown production while reducing unit costs Significant growth potential in two new advanced stage projects Good liquidity on NYSE MKT and TSX 30

APPENDIX 31

DIRECTORS & SENIOR MANAGEMENT TEAM Board of Directors R.W. (Bob) Garnett, CPA, CA, ICD.D, Chairman; Robert Archer, P. Geo.; Ken Major, P. Eng.; John Jennings, MBA, CFA; W. James Mullin B.Sc.; Jeffrey R. Mason, CA, ICD.D Ali Soltani Chief Operating Officer Robert Archer, P. Geo. President & CEO Co-founder Jim Zadra, CA, MBA Chief Financial Officer Robert Brown, P. Eng. VP Exploration & QP 32

SOCIAL PRINCIPLES We are committed to ensuring our employees and contractors return home safely every day We are committed to fair and equitable employment conditions for our employees We are committed to enhancing and benefiting the communities in which we live and operate We are committed to minimizing and restoring any impact on our environment We are committed to strong ethics and we abide by all rules and regulations that apply to our business Awarded distinction as a Socially Responsible Company by CEMEFI, Centro Mexicano para la Filantropía, for a fifth consecutive year in 2015 33

12 MONTH PEER COMPARISON 60% 40% 20% 0% -20% -40% -60% Change Silver -20.32% Sierra Metals -32.54% Avino -36.87% Americas Silver -41.82% Fortuna -43.55% Impact -58.75% Great Panther -60.58% Endeavour -63.57% Excellon -67.80% Aurcana -69.89% -80% -100% 34

OPERATIONAL SUMMARY Consolidated Operations Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 Tonnes Milled 87,476 99,252 92,574 89,030 80,964 Silver ounces 648,810 597,111 550,010 565,966 420,001 Gold ounces 5,322 4,703 4,822 4,200 3,773 Lead tonnes 300 279 285 259 302 Zinc tonnes 491 441 406 443 395 Silver equivalent ounces 1,2 1,088,355 987,887 911,048 890,641 718,794 1. Silver equivalent ounces for 2015 are calculated using a 65:1 Ag:Au ratio, and ratios of 1:0.050 and 1:0.056 for the price/ounce of silver to lead and zinc price/pound. 2. Silver equivalent ounces for 2014 were calculated at consistent prices of US$18.50 per oz, US$1,110 per oz (60:1 ratio), US$0.90 per lb and US$0.85 per lb for silver, gold, lead & zinc, respectively, and applied to the recovered metal content of the concentrates produced. 35

FINANCIAL SUMMARY in 000s except amounts per share and per ounce Q2 2015 Q1 2015 Q4 2014 Q3 2014 Q2 2014 Revenue $ 19,183 $ 20,250 $ 14,244 $ 12,801 $ 14,465 Gross profit (loss) before non-cash items 1 $ 6,713 $ 6,652 $ 2,159 $ 2,918 $ 2,427 Net income (loss) $ (4,722) $ 3,588 $ (26,948) $ (970) $ (4,492) Adjusted EBITDA 1 $ 4,205 $ 3,688 $ (1,211) $ 1,267 $ 213 Earnings (loss) per share basic $ (0.03) $ 0.03 $ (0.19) $ (0.01) $ (0.03) Earnings (loss) per share diluted $ (0.03) $ 0.03 $ (0.19) $ (0.01) $ (0.03) Total cash cost per Ag oz (USD) 1 $ 6.63 $ 8.71 $ 12.23 $ 11.02 $ 15.03 All-in sustaining cost per Ag oz (USD) 1 $ 12.54 $ 14.47 $ 21.46 $ 19.95 $ 24.40 Average realized silver price (USD) 2 $ 15.47 $ 16.99 $ 15.78 $ 18.85 $ 19.81 1. Gross profit (loss) before non-cash items, adjusted EBITDA, cash cost per silver payable ounce, all-in sustaining cost per silver payable ounce and all-in cost per silver payable ounce are non-ifrs performance measures. Refer to the Non-IFRS Measures section of the Company s MD&A for a complete definition. 2. Average realized silver price is prior to smelting and refining charges. 36

DRILLING SUMMARY 2011 2012 2013 2014 E 2015 Guanajuato 26,546 m 29,254 m 26,237 m 13,270 m 14,000 m Topia 4,526 m 8,059 m 2,162 m 1,903 m - San Ignacio 17,313 m 9,310 m 1,144 m 3,827 m 5,000 m Guadalupe de los Reyes - - - - 5,200 m Coricancha - - - - 5,500 m Santa Rosa - 1,653 m - - - El Horcon - - 2,156 m - - Total 48,385 m 48,276 m 31,699 m 19,000 m 29,700 m 2015 - Added drilling on new projects and increased underground drilling at GMC 37

RESOURCES Measured Tonnes Ag (g/t) Au (g/t) Pb (%) Zn (%) Ag (oz) Au (oz) Ag Eq Oz Guanajuato 184,500 309 3.24 - - 1,832,500 19,780 3,190,300 Topia 180,400 606 1.44 4.26 4.52 3,515,000 8,320 6,000,200 Total Measured 5,347,500 28,130 9,190,500 Indicated Tonnes Ag (g/t) Au (g/t) Pb (%) Zn (%) Ag (oz) Au (oz) Ag Eq Oz Guanajuato 36,000 335 2.20 - - 387,900 2,540 567,500 Topia 165,800 644 1.17 4.75 3.82 3,433,000 6,240 5,570,000 San Ignacio 180,300 159 3.49 - - 924,100 20,220 2,351,000 Total Indicated 4,745,000 29,000 8,488,500 Total Measured + Indicated 8,514,500 53,440 17,679,000 Inferred Tonnes Ag (g/t) Au (g/t) Pb (%) Zn (%) Ag (oz) Au (oz) Ag Eq Oz Guanajuato 163,600 101 3.37 - - 532,600 17,710 1,782,200 Topia 357,400 592 1.31 3.44 3.96 6,807,500 15,060 11,050,000 San Ignacio 787,800 160 3.26 - - 4,060,000 82,680 9,897,000 El Horcon 149,200 78 3.51 2.82-375,300 16,830 2,081,200 Total Inferred 11,777,400 132,270 24,810,400 NOTE: Compliant NI 43-101 Resource estimates were calculated using CIM standards. Guanajuato, July 2014 - US$17.00/oz Ag; US$1200/oz Au. Topia, November 2014 - US$1,200/oz Au, US$17.00/oz Ag, US$0.90/lb Pb, and US$0.95/lb Zn. Silver equivalent calculations used the same metal pricing. San Ignacio, December 2014 - US$17.00/oz Ag; US$1200/oz Au. El Horcon, July 2014 - US$17.00/oz Ag; US$1,200/oz Au; US$0.95/lb Pb. Ag Eq Oz total includes ounces derived from Pb. Robert Brown, P. Eng. is the Qualified Person under NI 43-101 for Guanajuato, Topia, San Ignacio and El Horcon. 38

Spiros Cacos, MA Director, Investor Relations D: +1 604 638 8955 TF: 1 888 355 1766 scacos@greatpanther.com SOCIAL SCENE Gr8_Panther GreatPantherSilver Great Panther Silver Great Panther Silver Limited

Corporate Presentation September 28, 2015