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Following the article published Wednesday on Smallcappower.com stating top 7 reasons why Jeff Clark of Casey Research is excited about silver at this time, including a surprising statistic involving China, we have picked 8 silver producing stocks that have registered strong production during 2013 and latest reported quarter. We note that these stocks have low EV to EBITDA and price to cash flow multiples. Moreover, a majority of these stocks have registered significant growth in production during 2013 and recently reported quarter. Additionally, all these stocks have accumulated significant gains during the year-to-date.

Company Name Exchange Ticker Market Cap

(MM) Last Price Average Volume

(3-Month) Price Change

(3-Month) Price Change (YTD) Price to Cash Flow EV to EBITDA Latest Quarter Silver Production (MM Ounces) Silver Production (2013) (MM Ounces) Silver Production Growth

(2013) Excellon Resources Inc TSX EXN 74.2 1.35 41,529 -2.9% 23.9% 10.5 16.4 0.37 NA NA Endeavour Silver Corp TSX EDR 655.4 6.46 278,171 36.6% 68.2% 7.0 4.8 1.90 6.81 51.9% Hecla Mining Co NYSE HL 1,146.4 3.28 5,760,391 5.5% 6.5% 15.3 12.6 2.52 8.92 39.5% SilverCrest Mines Inc TSX SVL 270.7 2.28 198,177 19.4% 26.0% 16.1 7.8 0.20 0.78 34.4% First Majestic Silver Corp TSX FR 1,328.9 11.31 640,161 12.2% 8.4% 11.0 14.0 3.10 10.64 28.8% Fortuna Silver Mines Inc TSX FVI 746.9 5.89 550,925 25.9% 93.1% 14.4 9.8 1.54 4.63 16.1% Pan American Silver Corp TSX PAA 2,498.3 16.49 295,151 13.3% 32.9% 13.3 9.2 6.56 25.96 3.5% US Silver & Gold Inc TSX USA 42.0 0.54 98,244 14.9% 45.9% NA NA 0.39 2.16 -6.3%

Source: Bloomberg,



Market Cap & last price are in their respective currencies

Company Description:

Excellon Resources Inc (TSX: EXN)

Excellon Resources, Inc. is a mineral resource company located in Mexico. The company produces silver, lead and zinc from its mining operations.

Endeavour Silver Corp (TSX: EDR)

Endeavour Silver Corp. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico.

Hecla Mining Co (NYSE: HL)

Hecla Mining Company explores, develops, and mines precious metals, gold and silver. The company has operations in the United States and Mexico.

SilverCrest Mines Inc (TSX: SVL)

SilverCrest Mines Inc. is a producing silver and gold mining company with a portfolio of precious metals deposits as exploration properties in Mexico.The company’s long term initiative is to further develop existing properties, acquire additional properties and continue to grow our silver & gold production.

First Majestic Silver Corp (TSX: FR)

First Majestic Silver Corp. is a silver producing mining company. The company’s presently owns and operates producing silver mines in Mexico; the La Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the La Guitarra Silver Mine, and Del Toro Silver Mine.

Fortuna Silver Mines Inc (TSX: FVI)

Fortuna Silver Mines Inc. is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. The company’s primary assets are the San Jose silver-gold mine in Mexico and the Caylloma silver-lead-zinc mine in Peru. Fortuna Silver Mines is selectively pursuing additional acquisition opportunities in the Americas.

Pan American Silver Corp (TSX: PAA)

Pan American Silver Corporation is a primary silver producer. The company has seven operating mines in Mexico, Peru, Argentina and Bolivia and several development projects in USA, Mexico, Peru and Argentina.

US Silver & Gold Inc (TSX: USA)

US Silver & Gold Inc. mines and produces silver and gold. The company’s flagship Galena complex is located in Shoshone County, in the “panhandle” of Idaho and along its eastern border with the State of Montana.

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