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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).

Pinto Valley

Arizona, 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.

Cu

Category	Tonnes (Mt)	Grade (% Cu)	Contained (Mt Cu)	As at
Measured	641.60 Mt	0.32%	2.05 Mt Cu	31 Dec 2025
Indicated	698.10 Mt	0.26%	1.85 Mt Cu	31 Dec 2025
Inferred	138.80 Mt	0.28%	0.39 Mt Cu	31 Dec 2025
Total Resources	1,178.30 Mt	0.28%	3.33 Mt Cu	31 Dec 2025
Proved	249.50 Mt	0.32%	0.80 Mt Cu	31 Dec 2025
Probable	50.70 Mt	0.30%	0.15 Mt Cu	31 Dec 2025
Total Reserves	300.20 Mt	0.32%	0.95 Mt Cu	31 Dec 2025

Sub-category rows are as disclosed (no Reserves-treatment netting); the Total rows honour the Resources treatment and Inferred-policy toggles, so components may not sum to the Total.

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.

Mo

Category	Tonnes (Mt)	Grade (% Mo)	Contained (Mt Mo)	As at
Measured	641.60 Mt	0.01%	0.04 Mt Mo	31 Dec 2025
Indicated	698.10 Mt	0.01%	0.04 Mt Mo	31 Dec 2025
Inferred	138.80 Mt	0.01%	0.01 Mt Mo	31 Dec 2025
Total Resources	1,178.30 Mt	0.01%	0.06 Mt Mo	31 Dec 2025
Proved

Cut-off grade

0.1400 % Cu · 0.1400 % Mo · 0.1900 % Mo · 0.1900 % Cu

Price assumption

US$3.00/t

JORC code year

—

Peer benchmark — producing Cu projects (98 with resources)Resource size P71Resource grade P25View 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: Capstone Copper Annual Information Form 2025 (Mineral Reserve and Resource estimates as at 31 Dec 2025) · 31 Dec 2025
Reporting code: unknown
Convention: inclusive
Currency assumption: US$
Disagreement flags: 6 rows

Current R&R

Resources

Category	Tonnes (Mt)	Cu		Mo		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (% Cu)	Contained (Mt Cu)	Grade (% Mo)	Contained (Mt Mo)	As at	Source	Provenance
Measured	641.60 Mt	0.32%	2.05 Mt Cu	0.01%	0.04 Mt Mo	31 Dec 2025	22Unverified Evidence record Pinto Valley Measured · Cu · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 641600000.0000 Grade 0.3200 Contained (t Cu) 2050000.0000 Classification Resource Source trail Capstone Copper Annual Information Form 2025 (Mineral Reserve and Resource estimates as at 31 Dec 2025) 22 Published 2026-03-23 Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.

Reserves

Category	Tonnes (Mt)	Cu		Mo		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (% Cu)	Contained (Mt Cu)	Grade (% Mo)	Contained (Mt Mo)	As at	Source	Provenance
Proved	249.50 Mt	0.32%	0.80 Mt Cu	0.01%	0.02 Mt Mo	31 Dec 2025	22Unverified Evidence record Pinto Valley Proved · Mo · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 249500000.0000 Grade 0.0070 Contained (t Mo) 16000.0000 Classification Reserve Source trail Capstone Copper Annual Information Form 2025 (Mineral Reserve and Resource estimates as at 31 Dec 2025) 22 Published 2026-03-23 Verification Approved; not independently verified · Model extracted QA WARN: document prints recovered-metal vocabulary ('Ounces Recovered') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA INFO: recompute differs 9.16% from the printed contained figure, but the printed tonnes/grade/contained carry ±9.15% 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: Capstone Copper Annual Information Form 2025 (Mineral Reserve and Resource estimates as at 31 Dec 2025) · published 23 Mar 2026 Ref: 22 Unknown code — Reporting code not yet captured for this row. Cutoff 0.19 % Mo — Cut-off grade assumption from the source statement. @ US$ 3/t — Metal price assumption used to derive this estimate. QA notes: QA WARN: document prints recovered-metal vocabulary ('Ounces Recovered') — if the reserve table's metal column is 'Ounces Recovered' the stored contained figure is post-recovery, not an in-situ contained metal (t24 AGLD class; recoverable-basis machinery not built). Verify the column heading; reject recovered-basis rows. QA INFO: recompute differs 9.16% from the printed contained figure, but the printed tonnes/grade/contained carry ±9.15% 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.
Probable	50.70 Mt	0.30%	0.15 Mt Cu	0.01%	3 kt Mo	31 Dec 2025	22Unverified Evidence record Pinto Valley Probable · Mo · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 50700000.0000 Grade 0.0050 Contained (t Mo) 3000.0000 Classification Reserve Source trail Capstone Copper Annual Information Form 2025 (Mineral Reserve and Resource estimates as at 31 Dec 2025) 22 Published 2026-03-23 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 15.50% from the printed contained figure, but the print is exactly consistent with the recompute at the printed tonnes/grade/contained granularity (rounding-interval overlap) — treated as reconciled. Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: Capstone Copper Annual Information Form 2025 (Mineral Reserve and Resource estimates as at 31 Dec 2025)
Total Reserves	300.20 Mt	0.32%	0.95 Mt Cu	0.01%	0.02 Mt Mo	31 Dec 2025	22Unverified Evidence record Pinto Valley Total Reserve · Mo · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 300200000.0000 Grade 0.0060 Contained (t Mo) 19000.0000 Classification Reserve Source trail Capstone Copper Annual Information Form 2025 (Mineral Reserve and Resource estimates as at 31 Dec 2025) 22 Published 2026-03-23 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 5.20% from the printed contained figure, but the printed tonnes/grade/contained carry ±8.65% 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: Capstone Copper Annual Information Form 2025 (Mineral Reserve and Resource estimates as at 31 Dec 2025)