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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).

Lucky Friday

Idaho, United States · Producing · 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.

Ag

Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	As at
Measured	1.64 Mt	404.57 g/t	21.33 Moz	31 Dec 2025
Indicated	1.47 Mt	408.00 g/t	19.21 Moz	31 Dec 2025
Inferred	2.03 Mt	397.71 g/t	26.03 Moz	31 Dec 2025
Total Resources	5.14 Mt	402.84 g/t	66.57 Moz	31 Dec 2025
Proved	4.31 Mt	404.57 g/t	56.10 Moz	31 Dec 2025
Probable	1.48 Mt	325.71 g/t	15.49 Moz	31 Dec 2025
Total Reserves	5.79 Mt	384.36 g/t	71.59 Moz	31 Dec 2025

Zn

Category	Tonnes (Mt)	Grade (% Zn)	Contained (Mt Zn)	As at
Measured	1.64 Mt	2.10%	0.03 Mt Zn	31 Dec 2025
Indicated	1.47 Mt	1.50%	0.02 Mt Zn	31 Dec 2025
Inferred	2.03 Mt	2.90%	0.06 Mt Zn	31 Dec 2025
Total Resources	5.14 Mt	2.24%	0.12 Mt Zn	31 Dec 2025
Proved	4.31 Mt	3.80%	0.16 Mt Zn	31 Dec 2025
Probable

Pb

Category	Tonnes (Mt)	Grade (% Pb)	Contained (Mt Pb)	As at
Measured	1.64 Mt	7.40%	0.12 Mt Pb	31 Dec 2025
Indicated	1.47 Mt	6.20%	0.09 Mt Pb	31 Dec 2025
Inferred	2.03 Mt	8.60%	0.17 Mt Pb	31 Dec 2025
Total Resources	5.14 Mt	7.53%	0.39 Mt Pb	31 Dec 2025
Proved	4.31 Mt	7.50%	0.32 Mt Pb	31 Dec 2025
Probable

Cut-off grade

280.0000 g/t Ag · 280.0000 % Pb · 280.0000 % Zn

Price assumption

US$26.00/oz · US$25.00/oz

JORC code year

—

Peer benchmark — producing Ag projects (118 with resources)Resource size P73Resource grade P97View 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: 2 rows

Current R&R

Resources

Category	Tonnes (Mt)	Ag		Zn		Pb		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	Grade (% Zn)	Contained (Mt Zn)	Grade (% Pb)	Contained (Mt Pb)	As at	Source	Provenance
Measured	1.64 Mt	404.57 g/t	21.33 Moz	2.10%	0.03 Mt Zn	7.40%	0.12 Mt Pb	31 Dec 2025

Reserves

Category	Tonnes (Mt)	Ag		Zn		Pb		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	Grade (% Zn)	Contained (Mt Zn)	Grade (% Pb)	Contained (Mt Pb)	As at	Source	Provenance
Proved	4.31 Mt	404.57 g/t	56.10 Moz	3.80%	0.16 Mt Zn	7.50%	0.32 Mt Pb	31 Dec 2025	Summary table: in-situ mineral reserves for all properties as of December 31, 2025Unverified Evidence record Lucky Friday Proved · Ag · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 4306405.9608 Grade 404.5714 Contained (oz) 56096000.0000 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 1633759.1667 oz vs reported 56096000 oz (97.09% 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 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 280.00 g/t Ag — Cut-off grade assumption from the source statement. @ US$ 25/oz — Metal price assumption used to derive this estimate. QA notes: QA BLOCK: recomputed contained 1633759.1667 oz vs reported 56096000 oz (97.09% 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 fix: incl_of_res cleared — flag belongs on resource rows only; figures print-verified
Probable	1.48 Mt	325.71 g/t	15.49 Moz	3.70%	0.06 Mt Zn	6.00%	0.09 Mt Pb	31 Dec 2025	Summary table: in-situ mineral reserves for all properties as of December 31, 2025Unverified Evidence record Lucky Friday Probable · Zn · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 1484154.2346 Grade 3.7000 Contained (t Zn) 55075.1856 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	5.79 Mt	384.36 g/t	71.59 Moz	3.77%	0.22 Mt Zn	7.12%	0.41 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 Lucky Friday Total Reserve · Ag · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 5790560.1954 Grade 384.35986692825185 Contained (oz) 71589000 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.