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Reporting assumptions

These choices persist and are added to shared URLs.

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).

Cosalá

Sinaloa, Mexico · ProducingUnverified

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 Ag)	Contained (Moz Ag)	As at
Measured	0.26 Mt	85.00 g/t	0.70 Moz	31 Oct 2025
Indicated	4.62 Mt	121.00 g/t	17.99 Moz	31 Oct 2025
Inferred	7.10 Mt	107.00 g/t	24.47 Moz	31 Oct 2025
Total Resources	11.97 Mt	111.93 g/t	43.16 Moz	31 Oct 2025
Proved	—	—	—	—
Probable	1.91 Mt	156.00 g/t	9.55 Moz	31 Oct 2025
Total Reserves	1.91 Mt	156.00 g/t	9.55 Moz	31 Oct 2025

Cut-off grade

90.0000 g/t Ag · 70.0000 g/t Ag · 75.0000 g/t Ag

Price assumption

US$34.00/oz

JORC code year

—

Peer benchmark — producing Ag projects (118 with resources)Resource size P56Resource grade P79View 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: Americas Gold and Silver Announces New Major Discoveries in Idaho and Mexico and a Strong 2025 Resource & Reserve Update Including a 19% Year over Year Increase in M&I Mineral Resources and 21% Increase in M&I Grades at Galena · 31 Oct 2025
Reporting code: unknown
Convention: exclusive
Currency assumption: US$

Current R&R

Resources

Area	Category	Tonnes (Mt)	Ag		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	As at	Source	Provenance
Total	Measured	0.26 Mt	85.00 g/t	0.70 Moz	31 Oct 2025	Table 1: Consolidated Silver Mineral Resources as at October 31, 2025 / Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified Evidence record Cosalá Measured · Ag · as at 2025-10-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 257000.0000 Grade 85.0000 Contained (oz) 700000.0000 Classification Resource Source trail Americas Gold and Silver Announces New Major Discoveries in Idaho and Mexico and a Strong 2025 Resource & Reserve Update Including a 19% Year over Year Increase in M&I Mineral Resources and 21% Increase in M&I Grades at Galena Table 1: Consolidated Silver Mineral Resources as at October 31, 2025 / Table 3: Cosalá Silver Mineral Resources as at October 31, 2025 Published 2026-03-30 Verification Approved; not independently verified · Model extracted QA WARN: identical figures appear under ANOTHER area label of this project in the same document — likely one printed estimate stored twice (a summary/grouping line duplicating its leaf). Keep one copy; reject the relabelled twin. QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn). Copies a pre-filled issue record so you can send it through your normal channel.

Total

Indicated

4.62 Mt

121.00 g/t

17.99 Moz

31 Oct 2025

Table 1: Consolidated Silver Mineral Resources as at October 31, 2025 / Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (3)

Source: Americas Gold and Silver Announces New Major Discoveries in Idaho and Mexico and a Strong 2025 Resource & Reserve Update Including a 19% Year over Year Increase in M&I Mineral Resources and 21% Increase in M&I Grades at Galena · published 30 Mar 2026

Ref: Table 1: Consolidated Silver Mineral Resources as at October 31, 2025 / Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Total

Inferred

7.10 Mt

107.00 g/t

24.47 Moz

31 Oct 2025

Table 1: Consolidated Silver Mineral Resources as at October 31, 2025 / Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (3)

Ref: Table 1: Consolidated Silver Mineral Resources as at October 31, 2025 / Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

El Cajón

Indicated

0.19 Mt

174.00 g/t

1.07 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 70.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

El Cajón

Inferred

0.57 Mt

171.00 g/t

3.10 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 70.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Nuestra Señora

Measured

0.26 Mt

85.00 g/t

0.70 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 90.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: identical figures appear under ANOTHER area label of this project in the same document — likely one printed estimate stored twice (a summary/grouping line duplicating its leaf). Keep one copy; reject the relabelled twin. QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Nuestra Señora

Indicated

1.88 Mt

89.00 g/t

5.38 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 90.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Nuestra Señora

Inferred

2.01 Mt

101.00 g/t

6.54 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 90.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

San Rafael

Indicated

0.24 Mt

127.00 g/t

0.99 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 75.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

San Rafael

Inferred

2.07 Mt

65.00 g/t

4.32 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 75.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Indicated

1.28 Mt

165.00 g/t

6.78 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 70.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Inferred

0.79 Mt

171.00 g/t

4.36 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 70.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Zone 120

Indicated

1.03 Mt

115.00 g/t

3.78 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 70.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Zone 120

Inferred

1.66 Mt

115.00 g/t

6.15 Moz

31 Oct 2025

Table 3: Cosalá Silver Mineral Resources as at October 31, 2025Unverified

notes (4)

Ref: Table 3: Cosalá Silver Mineral Resources as at October 31, 2025

Unknown code — Reporting code not yet captured for this row.
Cutoff 70.00 g/t Ag — Cut-off grade assumption from the source statement.
excl — Stated Resources are EXCLUSIVE of Reserves — they sit on top of the reserve, so decks quoting inclusive resources will show a larger figure (inclusive = this row + the converted reserve).

QA notes:

QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).

Reserves

Area	Category	Tonnes (Mt)	Ag		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Ag)	Contained (Moz Ag)	As at	Source	Provenance
Total	Probable	1.91 Mt	156.00 g/t	9.55 Moz	31 Oct 2025	Table 5: Consolidated Silver Mineral Reserves as at October 31, 2025Unverified Evidence record Cosalá Probable · Ag · as at 2025-10-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 1910000.0000 Grade 156.0000 Contained (oz) 9553000.0000 Classification Reserve Source trail Americas Gold and Silver Announces New Major Discoveries in Idaho and Mexico and a Strong 2025 Resource & Reserve Update Including a 19% Year over Year Increase in M&I Mineral Resources and 21% Increase in M&I Grades at Galena Table 5: Consolidated Silver Mineral Reserves as at October 31, 2025 Published 2026-03-30 Verification Approved; not independently verified · Model extracted QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn). Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: Americas Gold and Silver Announces New Major Discoveries in Idaho and Mexico and a Strong 2025 Resource & Reserve Update Including a 19% Year over Year Increase in M&I Mineral Resources and 21% Increase in M&I Grades at Galena · published 30 Mar 2026 Ref: Table 5: Consolidated Silver Mineral Reserves as at October 31, 2025 Unknown code — Reporting code not yet captured for this row. Cutoff 75.00 g/t Ag — Cut-off grade assumption from the source statement. @ US$ 34/oz — Metal price assumption used to derive this estimate. QA notes: QA WARN: document prints historical-estimate cautionary language ('not treating the Historical estimates as current') — a historical estimate is NOT a current mineral resource (t25 KLDC/LME class). Map each row to its source table; reject rows sourced from the historical-estimate disclosure. QA INFO: possible missing commodity coverage — the document prints Au, Cu, Pb grade/contained column(s) but the extraction emitted no Au, Cu, Pb rows; verify the R&R table columns (live class: GMTL Pilot Mountain Zn).
Total	Total Reserves	1.91 Mt	156.00 g/t	9.55 Moz	31 Oct 2025	derived from 1 row Probable: Table 5: Consolidated Silver Mineral Reserves as at October 31, 2025 Unverified Evidence record Cosalá Total Reserve · Ag · as at 2025-10-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 1910000 Grade 156 Contained (oz) 9553000 Classification Reserve Source trail Americas Gold and Silver Announces New Major Discoveries in Idaho and Mexico and a Strong 2025 Resource & Reserve Update Including a 19% Year over Year Increase in M&I Mineral Resources and 21% Increase in M&I Grades at Galena Table 5: Consolidated Silver Mineral Reserves as at October 31, 2025 · contributes Probable Verification Approved; not independently verified · Model extracted Copies a pre-filled issue record so you can send it through your normal channel.	—