Magma Silver Corp. — AGM Information 2020

Aug 24, 2020

BANKERS COBALT CORP. Suite 1080, 789 West Pender Street Vancouver, British Columbia, V6C 1H2

NOTICE OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN that the Annual General and Special meeting (the “ Meeting ”) of BANKERS COBALT CORP. (the “ Company ”) will be held virtually on Friday, September 18, 2020 at 10:00 A.M . (Pacific Time). To be admitted to the Meeting use the following link: = https://us02web.zoom.us/j/82350967432?pwd aDdGNmRCQ0oyTjFaYkQ4YUFtVkw4UT09 Meeting ID: 823 5096 7432 Passcode: 016934

The Meeting will be held for the following purposes:

1. to receive the audited financial statements of the Company for the financial year ended December 31, 2019, together with the auditor’s report thereon;

2. to fix number of directors at four (4);

3. to elect directors for the ensuing year;

4. to appoint PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the Company’s auditor for the ensuing year, and to authorize the directors to fix the remuneration to be paid to the auditor;

5. to approve the Company’s 10% ‘rolling’ Stock Option Plan for the ensuing year, as set forth in the Management Information Circular accompanying this Notice; and

6. to transact such other business as may properly come before the Meeting or any adjournments thereof.

The accompanying Management Information Circular (the “ Circular ”) provides additional information relating to the matters to be dealt with at the Meeting and is deemed to form part of this Notice. Also accompanying this Notice are (i) Form of Proxy or Voting Instruction Form, and (ii) Financial Statement Request Form. Any adjournment of the Meeting will be held at a time and place to be specified at the Meeting.

Only shareholders of record at the close of business on August 7, 2020 , will be entitled to receive notice of and vote at the Meeting. Shareholders are entitled to vote at the Meeting either in person or by proxy and each shareholder of the Company entitled to vote on any matter at the Meeting shall be entitled to one vote for every such common share standing in such shareholder’s name on the record date of the Meeting.

In light of the recent COVID-19 pandemic outbreak and in order to protect the health and safety of shareholders and the broader community, we strongly encourage you to vote by proxy in advance of the Meeting and note that it is not advisable to hold the Meeting in person. Should the circumstances change, we will announce alternative arrangements for the Meeting by press release as promptly as practicable.

Registered shareholders who are unable to attend the Meeting and who wish to ensure that their shares will be voted at the Meeting are requested to complete, date and sign the enclosed form of proxy, or another suitable form of proxy and deliver it in accordance with the instructions set out in the form of proxy and in the Circular.

Non-registered shareholders who plan to attend the Meeting must follow the instructions set out in the form of proxy or voting instruction form to ensure that their shares will be voted at the Meeting. If you hold your shares in a brokerage account, you are not a registered shareholder.

DATED at Vancouver, British Columbia, this 19[th] day of August, 2020 .

BY ORDER OF THE BOARD OF DIRECTORS:

Signed: “J. Stephen Barley” J. STEPHEN BARLEY Chairman, CEO, and Director