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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).

Neves-Corvo

Portugal · 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.

Ag

Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	As at
Measured	21.13 Mt	56.83 g/t	38.61 Moz	31 Dec 2024
Indicated	95.86 Mt	51.49 g/t	158.72 Moz	31 Dec 2024
Inferred	32.90 Mt	29.04 g/t	30.74 Moz	31 Dec 2024
Total Resources	111.09 Mt	47.67 g/t	170.26 Moz	31 Dec 2024
Proved	6.71 Mt	53.33 g/t	11.51 Moz	31 Dec 2024
Probable	32.08 Mt	44.88 g/t	46.30 Moz	31 Dec 2024
Total Reserves	38.79 Mt	46.34 g/t	57.81 Moz	31 Dec 2024

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.

Cu

Category	Tonnes (Mt)	Grade (% Cu)	Contained (Mt Cu)	As at
Measured	21.13 Mt	1.42%	0.30 Mt Cu	31 Dec 2024
Indicated	95.86 Mt	1.15%	1.10 Mt Cu	31 Dec 2024
Inferred	32.90 Mt	1.89%	0.62 Mt Cu	31 Dec 2024
Total Resources	111.09 Mt	1.41%	1.57 Mt Cu	31 Dec 2024
Proved

Zn

Category	Tonnes (Mt)	Grade (% Zn)	Contained (Mt Zn)	As at
Measured	21.13 Mt	5.22%	1.10 Mt Zn	31 Dec 2024
Indicated	95.86 Mt	3.75%	3.59 Mt Zn	31 Dec 2024
Inferred	25.09 Mt	1.62%	0.41 Mt Zn	31 Dec 2024
Total Resources	103.28 Mt	3.43%	3.55 Mt Zn	31 Dec 2024
Proved

Pb

Category	Tonnes (Mt)	Grade (% Pb)	Contained (Mt Pb)	As at
Measured	21.13 Mt	1.22%	0.26 Mt Pb	31 Dec 2024
Indicated	95.86 Mt	0.82%	0.78 Mt Pb	31 Dec 2024
Inferred	25.09 Mt	0.44%	0.11 Mt Pb	31 Dec 2024
Total Resources	103.28 Mt	0.73%	0.76 Mt Pb	31 Dec 2024
Proved

Cut-off grade

1.0000 g/t Ag · 1.0000 % Cu · 60.0000 % Cu · 60.0000 % Pb · 60.0000 % Zn · 60.0000 g/t Ag

Price assumption

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JORC code year

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Peer benchmark — producing Cu projects (98 with resources)Resource size P54Resource grade P87View 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: Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates · 31 Dec 2024
Reporting code: unknown
Convention: inclusive
Currency assumption: US$
Disagreement flags: 9 rows

Current R&R

Resources

Area	Category	Tonnes (Mt)	Ag		Cu		Zn		Pb		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	Grade (% Cu)	Contained (Mt Cu)	Grade (% Zn)	Contained (Mt Zn)	Grade (% Pb)	Contained (Mt Pb)	As at	Source	Provenance
Total	Total Resources	103.28–111.09 Mt

Copper

Measured

7.63 Mt

43.60 g/t

10.68 Moz

3.33%

0.25 Mt Cu

0.97%

0.07 Mt Zn

0.31%

0.02 Mt Pb

31 Dec 2024

Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo CopperUnverified

notes (3)

Source: Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates · published 12 Feb 2025

Ref: Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Copper

Unknown code — Reporting code not yet captured for this row.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale.

Copper

Indicated

46.80 Mt

43.30 g/t

65.14 Moz

2.03%

0.95 Mt Cu

0.82%

0.38 Mt Zn

0.35%

0.16 Mt Pb

31 Dec 2024

Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo CopperUnverified

notes (3)

Source: Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates · published 12 Feb 2025

Ref: Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Copper

Unknown code — Reporting code not yet captured for this row.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale.

Copper

Inferred

21.11 Mt

25.30 g/t

17.20 Moz

1.81%

0.38 Mt Cu

0.77%

0.16 Mt Zn

0.27%

0.06 Mt Pb

31 Dec 2024

Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo CopperUnverified

notes (3)

Source: Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates · published 12 Feb 2025

Ref: Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Copper

Unknown code — Reporting code not yet captured for this row.

QA notes:

QA INFO: inclusive-of-reserves flag cleared on an inferred row — reserves derive from M&I only, so the flag is meaningless on inferred. QA INFO: recompute differs 1.78% from the printed contained figure, but the printed tonnes/grade/contained carry ±2.75% 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.
t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale.

Semblana

Inferred

7.81 Mt

25.00 g/t

6.28 Moz

2.90%

0.23 Mt Cu

—

31 Dec 2024

Mineral Resource Estimates (partial) — Neves-Corvo sectionUnverified

notes (5)

Source: Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates · published 12 Feb 2025

Ref: Mineral Resource Estimates (partial) — Neves-Corvo section

Unknown code — Reporting code not yet captured for this row.
Cutoff 1.00 g/t Ag — Cut-off grade assumption from the source statement.

QA notes:

QA INFO: inclusive-of-reserves flag cleared on an inferred row — reserves derive from M&I only, so the flag is meaningless on inferred.
QA fix: Figures are the printed SEMBLANA Inferred line (7,807 kt @25 g/t = 6,275 Koz Ag, its own Site row after the two Neves-Corvo blocks), but the row carries area=NULL, which reads as the Neves-Corvo project-wide Inferred (truly 21,109 + 3,981 = 25,090 kt). Restore the printed deposit label.
t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale.

Zinc and Lead

Measured

13.50 Mt

64.30 g/t

27.93 Moz

0.34%

0.05 Mt Cu

7.62%

1.03 Mt Zn

1.74%

0.23 Mt Pb

31 Dec 2024

Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Zinc and LeadUnverified

notes (3)

Source: Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates · published 12 Feb 2025

Ref: Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Zinc and Lead

Unknown code — Reporting code not yet captured for this row.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale.

Zinc and Lead

Indicated

49.06 Mt

59.30 g/t

93.58 Moz

0.32%

0.16 Mt Cu

6.55%

3.21 Mt Zn

1.27%

0.62 Mt Pb

31 Dec 2024

Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Zinc and LeadUnverified

notes (3)

Source: Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates · published 12 Feb 2025

Ref: Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Zinc and Lead

Unknown code — Reporting code not yet captured for this row.
inc — Stated Resources are inclusive of Reserves. Set Resources: Excl. Reserves to net them out.

QA notes:

t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale.

Zinc and Lead

Inferred

3.98 Mt

56.80 g/t

7.27 Moz

0.33%

0.01 Mt Cu

6.11%

0.24 Mt Zn

1.33%

0.05 Mt Pb

31 Dec 2024

Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Zinc and LeadUnverified

notes (3)

Source: Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates · published 12 Feb 2025

Ref: Mineral Resource Estimates – December 31st, 2024 (second table) – Neves-Corvo Zinc and Lead

Unknown code — Reporting code not yet captured for this row.

QA notes:

QA INFO: inclusive-of-reserves flag cleared on an inferred row — reserves derive from M&I only, so the flag is meaningless on inferred.
t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale.

Reserves

Area	Category	Tonnes (Mt)	Ag		Cu		Zn		Pb		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	Grade (% Cu)	Contained (Mt Cu)	Grade (% Zn)	Contained (Mt Zn)	Grade (% Pb)	Contained (Mt Pb)	As at	Source	Provenance
Total	Total Reserves	38.79 Mt	46.34 g/t	57.81 Moz	1.19%	0.46 Mt Cu	4.01%	1.56 Mt Zn	1.01%	0.39 Mt Pb	31 Dec 2024	derived from 4 rows Proved: Mineral Reserves Estimates - December 31st, 2024 Proved: Mineral Reserves Estimates - December 31st, 2024 Probable: Mineral Reserves Estimates - December 31st, 2024 Probable: Mineral Reserves Estimates - December 31st, 2024 Unverified Evidence record Neves-Corvo Total Reserve · Cu · as at 2024-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 38793000 Grade 1.1850761735364628 Contained (t Cu) 459000 Classification Reserve Source trail Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates Mineral Reserves Estimates - December 31st, 2024 · contributes Proved Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates Mineral Reserves Estimates - December 31st, 2024 · contributes Proved Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates Mineral Reserves Estimates - December 31st, 2024 · contributes Probable Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates Mineral Reserves Estimates - December 31st, 2024 · contributes Probable Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.	—
Copper	Proved	2.66 Mt	31.90 g/t	2.73 Moz	2.98%	0.08 Mt Cu	0.61%	0.02 Mt Zn	0.18%	0.01 Mt Pb	31 Dec 2024	Mineral Reserves Estimates - December 31st, 2024Unverified Evidence record Neves-Corvo Proved · Cu · as at 2024-12-31 Reported figure Area Copper Basis 100% Ore tonnes (t) 2661000.0000 Grade 2.9800 Contained (t Cu) 79000.0000 Classification Reserve Source trail Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates Mineral Reserves Estimates - December 31st, 2024 Published 2025-02-12 Verification Approved; not independently verified · Model extracted t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale. Copies a pre-filled issue record so you can send it through your normal channel.
Copper	Probable	17.44 Mt	31.60 g/t	17.72 Moz	1.86%	0.32 Mt Cu	0.61%	0.11 Mt Zn	0.23%	0.04 Mt Pb	31 Dec 2024	Mineral Reserves Estimates - December 31st, 2024Unverified Evidence record Neves-Corvo Probable · Pb · as at 2024-12-31 Reported figure Area Copper Basis 100% Ore tonnes (t) 17438000.0000 Grade 0.2300 Contained (t Pb) 39000.0000 Classification Reserve Source trail Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates Mineral Reserves Estimates - December 31st, 2024 Published 2025-02-12 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 2.84% from the printed contained figure, but the printed tonnes/grade/contained carry ±3.46% 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. \| t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale. Copies a pre-filled issue record so you can send it through your normal channel.
Zinc and Lead	Proved	4.05 Mt	67.40 g/t	8.79 Moz	0.30%	0.01 Mt Cu	8.29%	0.34 Mt Zn	2.19%	0.09 Mt Pb	31 Dec 2024	Mineral Reserves Estimates - December 31st, 2024Unverified Evidence record Neves-Corvo Proved · Pb · as at 2024-12-31 Reported figure Area Zinc and Lead Basis 100% Ore tonnes (t) 4052000.0000 Grade 2.1900 Contained (t Pb) 89000.0000 Classification Reserve Source trail Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates Mineral Reserves Estimates - December 31st, 2024 Published 2025-02-12 Verification Approved; not independently verified · Model extracted t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale. Copies a pre-filled issue record so you can send it through your normal channel.
Zinc and Lead	Probable	14.64 Mt	60.70 g/t	28.57 Moz	0.30%	0.04 Mt Cu	7.49%	1.10 Mt Zn	1.77%	0.26 Mt Pb	31 Dec 2024	Mineral Reserves Estimates - December 31st, 2024Unverified Evidence record Neves-Corvo Probable · Ag · as at 2024-12-31 Reported figure Area Zinc and Lead Basis 100% Ore tonnes (t) 14642000.0000 Grade 60.7000 Contained (oz) 28574000.0000 Classification Reserve Source trail Lundin Mining Announces 2024 Mineral Resource and Mineral Reserve Estimates Mineral Reserves Estimates - December 31st, 2024 Published 2025-02-12 Verification Approved; not independently verified · Model extracted t79c FROZEN-DIVESTED: sold to Boliden (agreed Feb-2025, closed 2025) - series frozen at 2024-12-31, no further Lundin statements expected. Boliden has no issuer record in this book, so these rows are deliberately KEPT APPROVED as the only coverage of the asset (t79 convention 3, freeze branch). Corroborated internally: retained Lundin assets advanced to 2025-12-31 while this one stalled. Evidence: t72 audit g6.txt:33. Do not re-flag as stale. Copies a pre-filled issue record so you can send it through your normal channel.