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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).

Alacrán

Colombia · Developing · 31.2% 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	—	—	—	—
Indicated	1.52 Mt	0.28 g/t	0.01 Moz	18 Dec 2023
Inferred	31.84 Mt	0.25 g/t	0.26 Moz	18 Dec 2023
Total Resources	33.36 Mt	0.25 g/t	0.27 Moz	18 Dec 2023
Proved	—	—	—	—
Probable	97.95 Mt	0.23 g/t	0.74 Moz	21 Oct 2021
Total Reserves	97.95 Mt	0.23 g/t	0.74 Moz	21 Oct 2021

Ag

Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	As at
Measured	—	—	—	—
Indicated	1.52 Mt	0.88 g/t	0.04 Moz	18 Dec 2023
Inferred	31.84 Mt	1.10 g/t	1.10 Moz	18 Dec 2023
Total Resources	33.36 Mt	1.09 g/t	1.14 Moz	18 Dec 2023
Proved	—	—	—	—
Probable

Cu

Category	Tonnes (Mt)	Grade (% Cu)	Contained (Mt Cu)	As at
Measured	—	—	—	—
Indicated	—	—	—	—
Inferred	31.84 Mt	0.20%	0.06 Mt Cu	18 Dec 2023
Total Resources	31.84 Mt	0.20%	0.06 Mt Cu	18 Dec 2023
Proved	—	—	—	—
Probable	97.95 Mt

Cut-off grade

2.0800 g/t Ag · 2.0800 g/t Au · 2.0800 % Cu · 2.0700 g/t Au · 2.0700 g/t Ag · 2.0700 % Cu

Price assumption

US$3.80/t

JORC code year

—

Peer benchmark — developing Cu projects (124 with resources)Resource size P24Resource grade P21View 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 · 18 Dec 2023
Reporting code: SK-1300
Convention: unknown
Currency assumption: US$
Disagreement flags: 8 rows

Current R&R

Resources

Category	Tonnes (Mt)	Au		Ag		Cu		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	Grade (g/t Ag)	Contained (Moz Ag)	Grade (% Cu)	Contained (Mt Cu)	As at	Source	Provenance
Indicated	1.52 Mt	0.28 g/t	0.01 Moz	0.88 g/t	0.04 Moz	—	—	18 Dec 2023	Mineral Resources and Reserves — Summary table of estimated in situ Mineral Resources as at December 31, 2025; footnote 5 states effective date December 18, 2023

Reserves

Category	Tonnes (Mt)	Au		Ag		Cu		As at	Source	Provenance
Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	Grade (g/t Ag)	Contained (Moz Ag)	Grade (% Cu)	Contained (Mt Cu)	As at	Source	Provenance
Probable	97.95 Mt	0.23 g/t	0.74 Moz	2.63 g/t	8.29 Moz	0.41%	0.40 Mt Cu	21 Oct 2021	Mineral Resources and Reserves — Summary table of estimated in situ Mineral Reserves as at December 31, 2025; footnote 8 states effective October 21, 2021Unverified Evidence record Alacrán Probable · Au · as at 2021-10-21 Reported figure Area Whole project Basis attributable Ore tonnes (t) 97948717.94871795 Grade 0.2300 Contained (oz) 737179.4871794872 Classification Reserve Source trail 10-K: 10-K Mineral Resources and Reserves — Summary table of estimated in situ Mineral Reserves as at December 31, 2025; footnote 8 states effective October 21, 2021 Published 2026-02-23 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 1.75% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±4.36% (rounding granularity) — treated as reconciled. Copies a pre-filled issue record so you can send it through your normal channel.	notes (5) Source: 10-K: 10-K · published 23 Feb 2026 Ref: Mineral Resources and Reserves — Summary table of estimated in situ Mineral Reserves as at December 31, 2025; footnote 8 states effective October 21, 2021 SK-1300 — Reporting code of record: SK-1300 Cutoff 2.07 g/t Au — Cut-off grade assumption from the source statement. @ US$ 3.8/oz — Metal price assumption used to derive this estimate. attrib — Figures are net to the issuer's ownership interest as reported (attributable basis) — NOT 100% of the project. QA notes: QA INFO: recompute differs 1.75% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±4.36% (rounding granularity) — treated as reconciled.
Total Reserves	97.95 Mt	0.23 g/t	0.74 Moz	2.63 g/t	8.29 Moz	0.41%	0.40 Mt Cu	21 Oct 2021	derived from 1 row Probable: Mineral Resources and Reserves — Summary table of estimated in situ Mineral Reserves as at December 31, 2025; footnote 8 states effective October 21, 2021 Unverified Evidence record Alacrán Total Reserve · Au · as at 2021-10-21 Reported figure Area Whole project Basis attributable Ore tonnes (t) 97948717.94871795 Grade 0.23 Contained (oz) 737179.4871794872 Classification Reserve Source trail 10-K: 10-K Mineral Resources and Reserves — Summary table of estimated in situ Mineral Reserves as at December 31, 2025; footnote 8 states effective October 21, 2021 · contributes Probable Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.