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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).

Otjikoto Mine

Otjozondjupa Region, Namibia · 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.

Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at
Measured	—	—	—	—
Indicated	42.77 Mt	0.66 g/t	0.91 Moz	31 Dec 2025
Inferred	17.19 Mt	1.73 g/t	0.95 Moz	31 Dec 2025
Total Resources	82.21 Mt	0.79 g/t	2.08 Moz	31 Dec 2025
Proved	—	—	—	—
Probable	1.20 Mt	2.33 g/t	0.09 Moz	31 Dec 2025
Total Reserves	1.50 Mt	2.12 g/t	0.10 Moz	31 Dec 2025

Dotted tonnes/grade are derived under the active Resources treatment: tonnes are netted of (or grossed by) the reserve tonnage alongside contained, and grade is re-derived as netted contained ÷ netted tonnes — not the published figures.

Cut-off grade

0.2500 g/t Au · 1.8200 g/t Au · 0.4500 g/t Au

Price assumption

US$2500.00/oz · US$2000.00/oz

JORC code year

—

Peer benchmark — producing Au projects (282 with resources)Resource size P54Resource grade P30View 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: 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit) · 31 Dec 2025
Reporting code: SK-1300
Convention: inclusive
Currency assumption: US$
Disagreement flags: 9 rows

Current R&R

Resources

Area	Category	Tonnes (Mt)	Au		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Total	Indicated	42.77 Mt	0.66 g/t	0.91 Moz	31 Dec 2025	Indicated Mineral Resource Statement — SummaryUnverified Evidence record Otjikoto Mine Indicated · Au · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 42770000.0000 Grade 0.6600 Contained (oz) 910000.0000 Classification Resource Source trail 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit) Indicated Mineral Resource Statement — Summary Published 2026-03-11 Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.

Reserves

Area	Category	Tonnes (Mt)	Au		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Total	Probable	1.20 Mt	2.33 g/t	0.09 Moz	31 Dec 2025	Probable Mineral Reserves Statement — SummaryUnverified Evidence record Otjikoto Mine Probable · Au · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 1200000.0000 Grade 2.3300 Contained (oz) 90000.0000 Classification Reserve Source trail 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit) Probable Mineral Reserves Statement — Summary Published 2026-03-11 Verification Approved; not independently verified · Model extracted QA INFO: inclusive-of-reserves flag cleared — the flag describes resource statements; reserve rows carry none. \| QA fix: Figures are the printed whole-project total 'Total Probable Mineral Reserves \| 1,200 \| 2.33 \| 90' (L4208-4209). The stored area string is the AIF summary's composite caption 'Otjikoto stockpiles and Wolfshag Underground' (L861-862), i.e. a description of the two leaves already stored separately (Wolfshag UG 900 + ROM stockpiles 300), not a mining a Copies a pre-filled issue record so you can send it through your normal channel.	notes (8) Source: 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit) · published 11 Mar 2026 Ref: Probable Mineral Reserves Statement — Summary SK-1300 — Reporting code of record: SK-1300 Cutoff 0.45 g/t Au — Cut-off grade assumption from the source statement. @ US$ 2,000/oz — Metal price assumption used to derive this estimate. QA notes: QA INFO: inclusive-of-reserves flag cleared — the flag describes resource statements; reserve rows carry none. QA fix: Figures are the printed whole-project total 'Total Probable Mineral Reserves 1,200 2.33 90' (L4208-4209). The stored area string is the AIF summary's composite caption 'Otjikoto stockpiles and Wolfshag Underground' (L861-862), i.e. a description of the two leaves already stored separately (Wolfshag UG 900 + ROM stockpiles 300), not a mining a
Total	Total Reserves	1.50 Mt	2.12 g/t	0.10 Moz	31 Dec 2025	derived from 2 rows Probable: Probable Mineral Reserves Statement — Summary Probable: Otjikoto Probable Mineral Reserves Statement Unverified Evidence record Otjikoto Mine Total Reserve · Au · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 1500000 Grade 2.124 Contained (oz) 100000 Classification Reserve Source trail 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit) Probable Mineral Reserves Statement — Summary · contributes Probable 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit) Otjikoto Probable Mineral Reserves Statement · contributes Probable Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.
ROM stockpiles	Probable	0.30 Mt	1.30 g/t	0.01 Moz	31 Dec 2025	Otjikoto Probable Mineral Reserves StatementUnverified Evidence record Otjikoto Mine Probable · Au · as at 2025-12-31 Reported figure Area ROM stockpiles Basis 100% Ore tonnes (t) 300000.0000 Grade 1.3000 Contained (oz) 10000.0000 Classification Reserve Source trail 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit) Otjikoto Probable Mineral Reserves Statement Published 2026-03-11 Verification Approved; not independently verified · Model extracted QA BLOCK: recomputed contained 12538.7912 oz vs reported 10000 oz (25.39% disagreement) Rounding-interval overlap exists at the printed granularity, but a 25.39% gap exceeds the 10% interval-waiver ceiling (t23 STM AuEq-miscopy precedent) — verify the printed contained figure before approval. Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit)
Wolfshag Underground	Probable	0.90 Mt	2.67 g/t	0.08 Moz	31 Dec 2025	Otjikoto Probable Mineral Reserves StatementUnverified Evidence record Otjikoto Mine Probable · Au · as at 2025-12-31 Reported figure Area Wolfshag Underground Basis 100% Ore tonnes (t) 900000.0000 Grade 2.6700 Contained (oz) 80000.0000 Classification Reserve Source trail 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit) Otjikoto Probable Mineral Reserves Statement Published 2026-03-11 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 3.43% from the printed contained figure, but the printed tonnes/grade/contained carry ±11.74% rounding granularity (capped per component; the true half-step band of coarse prints is wider) and the remainder sits under the warn threshold — treated as reconciled. Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: 40-F: FORM 40-F — tm266740d1_ex99-1.htm (AIF exhibit)