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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).

Las Chispas

Sonora, Mexico · 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.

Au

Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at
Measured	0.28 Mt	0.76 g/t	0.01 Moz	31 Dec 2025
Indicated	1.70 Mt	1.11 g/t	0.06 Moz	31 Dec 2025
Inferred	2.12 Mt	1.98 g/t	0.14 Moz	31 Dec 2025
Total Resources	4.10 Mt	1.54 g/t	0.20 Moz	31 Dec 2025
Proved	0.98 Mt	4.19 g/t	0.13 Moz	31 Dec 2025
Probable	2.24 Mt	2.28 g/t	0.16 Moz	31 Dec 2025
Total Reserves	3.22 Mt	2.86 g/t	0.30 Moz	31 Dec 2025

Ag

Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	As at
Measured	0.28 Mt	77.83 g/t	0.71 Moz	31 Dec 2025
Indicated	1.70 Mt	103.36 g/t	5.65 Moz	31 Dec 2025
Inferred	2.12 Mt	172.84 g/t	11.77 Moz	31 Dec 2025
Total Resources	4.10 Mt	137.49 g/t	18.12 Moz	31 Dec 2025
Proved	0.98 Mt	442.91 g/t	13.97 Moz	31 Dec 2025
Probable

Cut-off grade

140.0000 g/t Au · 140.0000 g/t Ag

Price assumption

US$2500.00/oz · US$2200.00/oz

JORC code year

—

Peer benchmark — producing Ag projects (118 with resources)Resource size P40Resource grade P83View 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: 1 row

Current R&R

Resources

Category	Tonnes (Mt)	Au		Ag		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	Grade (g/t Ag)	Contained (Moz Ag)	As at	Source	Provenance
Measured	0.28 Mt	0.76 g/t	0.01 Moz	77.83 g/t	0.71 Moz	31 Dec 2025	Summary Gold Mineral Resources at End of the Fiscal Year Ended December 31, 2025Unverified Evidence record Las Chispas Measured · Au · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 282000.0000 Grade 0.7600 Contained (oz) 7000.0000 Classification Resource Source trail 10-K: 10-K Summary Gold Mineral Resources at End of the Fiscal Year Ended December 31, 2025 Published 2026-02-18 Verification Approved; not independently verified · Model extracted QA WARN: unrecognised source metal label 'Grade (grams/tonne)' for Au — verify the commodity mapping. QA INFO: recompute differs 1.56% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±6.84% (rounding granularity) — treated as reconciled. Copies a pre-filled issue record so you can send it through your normal channel.

Reserves

Category	Tonnes (Mt)	Au		Ag		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	Grade (g/t Ag)	Contained (Moz Ag)	As at	Source	Provenance
Proved	0.98 Mt	4.19 g/t	0.13 Moz	442.91 g/t	13.97 Moz	31 Dec 2025	Summary Gold Mineral Reserves at End of the Fiscal Year Ended December 31, 2025Unverified Evidence record Las Chispas Proved · Au · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 981000.0000 Grade 4.1900 Contained (oz) 132000.0000 Classification Reserve Source trail 10-K: 10-K Summary Gold Mineral Reserves at End of the Fiscal Year Ended December 31, 2025 Published 2026-02-18 Verification Approved; not independently verified · Model extracted QA WARN: unrecognised source metal label 'Grade (grams/tonne)' for Au — verify the commodity mapping. Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: 10-K: 10-K · published 18 Feb 2026 Ref: Summary Gold Mineral Reserves at End of the Fiscal Year Ended December 31, 2025 SK-1300 — Reporting code of record: SK-1300 Cutoff 140.00 g/t Au — Cut-off grade assumption from the source statement. @ US$ 2,200/oz — Metal price assumption used to derive this estimate. QA notes: QA WARN: unrecognised source metal label 'Grade (grams/tonne)' for Au — verify the commodity mapping.
Probable	2.24 Mt	2.28 g/t	0.16 Moz	198.50 g/t	14.29 Moz	31 Dec 2025	Summary Silver Mineral Reserves at End of the Fiscal Year Ended December 31, 2025Unverified Evidence record Las Chispas Probable · Ag · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 2240000.0000 Grade 198.5000 Contained (oz) 14293000.0000 Classification Reserve Source trail 10-K: 10-K Summary Silver Mineral Reserves at End of the Fiscal Year Ended December 31, 2025 Published 2026-02-18 Verification Approved; not independently verified · Model extracted QA WARN: unrecognised source metal label 'Grade (grams/tonne)' for Ag — verify the commodity mapping. Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: 10-K: 10-K · published 18 Feb 2026 Summary Silver Mineral Reserves at End of the Fiscal Year Ended December 31, 2025
Total Reserves	3.22 Mt	2.86 g/t	0.30 Moz	272.96 g/t	28.27 Moz	31 Dec 2025	Summary Silver Mineral Reserves at End of the Fiscal Year Ended December 31, 2025Unverified Evidence record Las Chispas Total Reserve · Ag · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 3221000.0000 Grade 272.9600 Contained (oz) 28266000.0000 Classification Reserve Source trail 10-K: 10-K Summary Silver Mineral Reserves at End of the Fiscal Year Ended December 31, 2025 Published 2026-02-18 Verification Approved; not independently verified · Model extracted QA WARN: unrecognised source metal label 'Grade (grams/tonne)' for Ag — verify the commodity mapping. Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: 10-K: 10-K · published 18 Feb 2026