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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).

Sudbury

Ontario, Canada · Producing · 90.0% 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	16.11 Mt	0.10 g/t	0.05 Moz	31 Dec 2025
Indicated	40.89 Mt	0.31 g/t	0.41 Moz	31 Dec 2025
Inferred	81.44 Mt	0.30 g/t	0.79 Moz	31 Dec 2025
Total Resources	138.44 Mt	0.28 g/t	1.24 Moz	31 Dec 2025
Proved	29.00 Mt	0.48 g/t	0.45 Moz	31 Dec 2025
Probable	41.44 Mt	0.33 g/t	0.44 Moz	31 Dec 2025
Total Reserves	70.44 Mt	0.39 g/t	0.88 Moz	31 Dec 2025

Cu

Category	Tonnes (Mt)	Grade (% Cu)	Contained (Mt Cu)	As at
Measured	16.11 Mt	0.67%	0.11 Mt Cu	31 Dec 2025
Indicated	40.89 Mt	2.04%	0.83 Mt Cu	31 Dec 2025
Inferred	81.44 Mt	1.00%	0.81 Mt Cu	31 Dec 2025
Total Resources	138.44 Mt	1.27%	1.76 Mt Cu	31 Dec 2025
Proved	29.00 Mt	1.77%	0.51 Mt Cu	31 Dec 2025
Probable

Ni

Category	Tonnes (Mt)	Grade (% Ni)	Contained (Mt Ni)	As at
Measured	16.11 Mt	1.04%	0.17 Mt Ni	31 Dec 2025
Indicated	40.89 Mt	1.32%	0.54 Mt Ni	31 Dec 2025
Inferred	81.44 Mt	0.90%	0.73 Mt Ni	31 Dec 2025
Total Resources	138.44 Mt	1.04%	1.44 Mt Ni	31 Dec 2025
Proved	29.00 Mt	1.42%	0.41 Mt Ni	31 Dec 2025
Probable

Co

Category	Tonnes (Mt)	Grade (% Co)	Contained (Mt Co)	As at
Measured	16.11 Mt	0.04%	0.01 Mt Co	31 Dec 2025
Indicated	40.89 Mt	0.04%	0.02 Mt Co	31 Dec 2025
Inferred	81.44 Mt	0.03%	0.02 Mt Co	31 Dec 2025
Total Resources	138.44 Mt	0.03%	0.05 Mt Co	31 Dec 2025
Proved	29.00 Mt	0.03%	0.01 Mt Co	31 Dec 2025
Probable

Cut-off grade

33.0000 % Ni · 33.0000 % Co · 33.0000 % Cu · 33.0000 g/t Au · 8.2000 % Ni · 8.2000 % Co · 8.2000 % Cu · 8.2000 g/t Au

Price assumption

US$13376.00/t · US$45000.00/t · US$6100.00/t · US$1000.00/t · US$17625.00/t · US$39125.00/t · US$9950.00/t · US$2650.00/t

JORC code year

—

Peer benchmark — producing Ni projects (17 with resources)Resource size P74Resource grade P26View 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: 20-F: 20-F · 31 Dec 2025
Reporting code: SK-1300
Convention: exclusive
Currency assumption: US$

Current R&R

Resources

Category	Tonnes (Mt)	Au		Cu		Ni		Co		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	Grade (% Cu)	Contained (Mt Cu)	Grade (% Ni)	Contained (Mt Ni)	Grade (% Co)	Contained (Mt Co)	As at	Source	Provenance
Measured	16.11 Mt	0.10 g/t	0.05 Moz	0.67%	0.11 Mt Cu	1.04%

Indicated

40.89 Mt

0.31 g/t

0.41 Moz

2.04%

0.83 Mt Cu

1.32%

0.54 Mt Ni

0.04%

0.02 Mt Co

31 Dec 2025

Sudbury - Summary of Nickel, Cobalt, Copper, PGMs and Gold Mineral Resources as of December 31Unverified

notes (7)

Source: 20-F: 20-F · published 27 Mar 2026

Ref: Sudbury - Summary of Nickel, Cobalt, Copper, PGMs and Gold Mineral Resources as of December 31

SK-1300 — Reporting code of record: SK-1300
Cutoff 33.00 % Ni — Cut-off grade assumption from the source statement.
@ US$ 13,376/t — 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).
attrib — Figures are net to the issuer's ownership interest as reported (attributable basis) — NOT 100% of the project.

QA notes:

QA INFO: partial commodity coverage — the document also reports Pd for this project, outside the supported commodity list and not captured; this project's stored figures do not include all its commodities.
AGENT-QA 2026-07-11 (t6 recovery first gate, operator-delegated): post-#133 re-extraction verified - structure, single as-at vintage, reported basis and spot-checks against the printed tables. Approved.

Inferred

81.44 Mt

0.30 g/t

0.79 Moz

1.00%

0.81 Mt Cu

0.90%

0.73 Mt Ni

0.03%