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Reporting assumptions

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Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Keno Hill

Yukon, Canada · Developing · 100.0% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Au

Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at
Measured	—	—	—	—
Indicated	0.53 Mt	0.31 g/t	0.01 Moz	31 Dec 2025
Inferred	0.60 Mt	0.17 g/t	4 koz	31 Dec 2025
Total Resources	1.13 Mt	0.24 g/t	0.01 Moz	31 Dec 2025
Proved	—	—	—	—
Probable	1.91 Mt	0.24 g/t	0.02 Moz	31 Dec 2025
Total Reserves	1.91 Mt	0.24 g/t	0.02 Moz	31 Dec 2025

Ag

Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	As at
Measured	—	—	—	—
Indicated	0.53 Mt	826.29 g/t	14.04 Moz	31 Dec 2025
Inferred	0.60 Mt	572.57 g/t	11.04 Moz	31 Dec 2025
Total Resources	1.13 Mt	691.38 g/t	25.08 Moz	31 Dec 2025
Proved	0.01 Mt	805.71 g/t	0.24 Moz	31 Dec 2025
Probable

Zn

Category	Tonnes (Mt)	Grade (% Zn)	Contained (Mt Zn)	As at
Measured	—	—	—	—
Indicated	0.53 Mt	6.30%	0.03 Mt Zn	31 Dec 2025
Inferred	0.60 Mt	3.80%	0.02 Mt Zn	31 Dec 2025
Total Resources	1.13 Mt	4.97%	0.06 Mt Zn	31 Dec 2025
Proved	0.01 Mt	6.20%	0.54 kt Zn	31 Dec 2025
Probable

Pb

Category	Tonnes (Mt)	Grade (% Pb)	Contained (Mt Pb)	As at
Measured	—	—	—	—
Indicated	0.53 Mt	2.50%	0.01 Mt Pb	31 Dec 2025
Inferred	0.60 Mt	1.90%	0.01 Mt Pb	31 Dec 2025
Total Resources	1.13 Mt	2.18%	0.02 Mt Pb	31 Dec 2025
Proved	0.01 Mt	2.40%	0.2 kt Pb	31 Dec 2025
Probable

Cut-off grade

336.0000 % Pb · 336.0000 g/t Au · 336.0000 g/t Ag · 336.0000 % Zn

Price assumption

US$26.00/oz · US$25.00/oz

JORC code year

—

Peer benchmark — developing Ag projects (131 with resources)Resource size P57Resource grade P100View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: 10-K: 10-K · 31 Dec 2025
Reporting code: SK-1300
Convention: exclusive
Currency assumption: US$
Disagreement flags: 7 rows

Current R&R

Resources

Category	Tonnes (Mt)	Au		Ag		Zn		Pb		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	Grade (g/t Ag)	Contained (Moz Ag)	Grade (% Zn)	Contained (Mt Zn)	Grade (% Pb)	Contained (Mt Pb)	As at	Source	Provenance
Indicated	0.53 Mt	0.31 g/t	0.01 Moz	826.29 g/t	14.04 Moz	6.30%

Inferred

0.60 Mt

0.17 g/t

4 koz

572.57 g/t

11.04 Moz

3.80%

0.02 Mt Zn

1.90%

0.01 Mt Pb

31 Dec 2025

Summary table: in-situ mineral resources exclusive of mineral reserves as of December 31, 2025 — Inferred ResourcesUnverified

notes (7)

Source: 10-K: 10-K · published 17 Feb 2026

Ref: Summary table: in-situ mineral resources exclusive of mineral reserves as of December 31, 2025 — Inferred Resources

SK-1300 — Reporting code of record: SK-1300
Cutoff 336.00 g/t Au — Cut-off grade assumption from the source statement.
@ US$ 26/oz — Metal price assumption used to derive this estimate.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA BLOCK: recomputed contained 96.5417 oz vs reported 4000 oz (97.59% disagreement) QA INFO: short-ton document — printed tonnage/contained were US short tons; converted x0.90718474 to metric tonnes deterministically at parse (grade unchanged).
QA FIX (claude-agent-qa): grade printed in oz/ton (Hecla convention) was stored unconverted as g/t. Rescaled x34.2857 (31.1034768/0.90718474); recompute now matches the printed contained within print rounding.
QA sweep: print-verified

Reserves

Category	Tonnes (Mt)	Au		Ag		Zn		Pb		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	Grade (g/t Ag)	Contained (Moz Ag)	Grade (% Zn)	Contained (Mt Zn)	Grade (% Pb)	Contained (Mt Pb)	As at	Source	Provenance
Proved	0.01 Mt	—	—	805.71 g/t	0.24 Moz	6.20%	0.54 kt Zn	2.40%	0.2 kt Pb	31 Dec 2025	Summary table: in-situ mineral reserves for all properties as of December 31, 2025Unverified Evidence record Keno Hill Proved · Zn · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 8164.6627 Grade 6.2000 Contained (t Zn) 544.3108 Classification Reserve Source trail 10-K: 10-K Summary table: in-situ mineral reserves for all properties as of December 31, 2025 Published 2026-02-17 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 506.2091 t Zn vs reported 544.31084400000 t Zn (7.00% disagreement) QA INFO: short-ton document — printed tonnage/contained were US short tons; converted x0.90718474 to metric tonnes deterministically at parse (grade unchanged). \| QA OVERRIDE (claude-agent-qa): 7% gap is small-number print granularity (9 kst tonnage rounds +/-5.6%). Reported wins. \| QA sweep fix: incl_of_res cleared — flag belongs on resource rows only; figures print-verified Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: 10-K: 10-K · published 17 Feb 2026 Ref: Summary table: in-situ mineral reserves for all properties as of December 31, 2025 SK-1300 — Reporting code of record: SK-1300 Cutoff 336.00 % Zn — Cut-off grade assumption from the source statement. @ US$ 25/t — Metal price assumption used to derive this estimate. QA notes: QA BLOCK: recomputed contained 506.2091 t Zn vs reported 544.31084400000 t Zn (7.00% disagreement) QA INFO: short-ton document — printed tonnage/contained were US short tons; converted x0.90718474 to metric tonnes deterministically at parse (grade unchanged). QA OVERRIDE (claude-agent-qa): 7% gap is small-number print granularity (9 kst tonnage rounds +/-5.6%). Reported wins. QA sweep fix: incl_of_res cleared — flag belongs on resource rows only; figures print-verified
Probable	1.91 Mt	0.24 g/t	0.02 Moz	867.43 g/t	53.17 Moz	2.90%	0.06 Mt Zn	2.90%	0.06 Mt Pb	31 Dec 2025	Summary table: in-situ mineral reserves for all properties as of December 31, 2025Unverified Evidence record Keno Hill Probable · Pb · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 1908716.6930 Grade 2.9000 Contained (t Pb) 55882.5800 Classification Reserve Source trail 10-K: 10-K Summary table: in-situ mineral reserves for all properties as of December 31, 2025 Published 2026-02-17 Verification Approved; not independently verified · Model extracted QA INFO: short-ton document — printed tonnage/contained were US short tons; converted x0.90718474 to metric tonnes deterministically at parse (grade unchanged). \| QA sweep fix: incl_of_res cleared — flag belongs on resource rows only; figures print-verified Copies a pre-filled issue record so you can send it through your normal channel.	notes (5)
Total Reserves	1.91–1.92 Mt	0.24 g/t	0.02 Moz	867.17 g/t	53.41 Moz	2.91%	0.06 Mt Zn	2.90%	0.06 Mt Pb	31 Dec 2025	derived from 2 rows Proved: Summary table: in-situ mineral reserves for all properties as of December 31, 2025 Probable: Summary table: in-situ mineral reserves for all properties as of December 31, 2025 Unverified Evidence record Keno Hill Total Reserve · Zn · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 1916881.3557 Grade 2.9140558448387437 Contained (t Zn) 56091.2324 Classification Reserve Source trail 10-K: 10-K Summary table: in-situ mineral reserves for all properties as of December 31, 2025 · contributes Proved 10-K: 10-K Summary table: in-situ mineral reserves for all properties as of December 31, 2025 · contributes Probable Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.