Highlights

• Indicated resources of 17.5 Mt at 0.51 g/t gold, 33.8 g/t silver, 0.47% zinc, 0.19% lead and 0.04% copper (1.33 g/t AuEq grade), for a contained 752,000 gold-equivalent ounces
• Inferred resources of 19.0 Mt at 0.51 g/t gold, 27.5 g/t silver, 0.50% zinc, 0.19% lead and 0.05% copper (1.27 g/t AuEq grade), for a contained 777,000 gold-equivalent ounces
• The resource estimate is based on 220 diamond drill holes co
• Preliminary metallurgical test work suggests recoveries into concentrate of 75-85% for gold, 85-95% for silver, 80-90% for zinc and lead, and 70-80% for Cu

Notes:

• Mineral Resources are not Mineral Reserves and have not demonstrated economic viability
• The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues
• The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves. Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council
• Numbers may not add due to rounding
• kt are 1,000 metric tonnes; koz are 1,000 troy ounces; klbs are 1,000 imperial pounds; g/t are grams per metric tonne
• Metal Prices used: $1700/oz Au, $23.61/oz Ag, $1.32/lb Zn, $0.94/lb Pb and $3.78/lb Cu
• Gold equivalent formula: AuEq = Au + 0.014*Ag + 0.532*Zn + 0.379*Pb + 1.525*Cu (recoveries were assumed to be 100%)
• Open pit Resources are tabulated at a cutoff grade of $9.60/t NSR; underground Resources are tabulated at a cutoff grade of $55.00/t NSR. Smelter terms and individual recoveries to concentrates are provided in the technical report; smelter terms and recoveries vary by metal grades and oxidation state. A representative equation to calculate average NSR at the above metal price for the overall Resource is provided: 
  • NSR $/t = Au (g/t)*($26.54/g Au) + Ag (g/t)*($0.48/g Ag) + Pb (%)*($14.53/%Pb) + Zn (%)*($18.57/%Zn) + Cu(%)*($55.08/%Cu)

The mineral resource estimate for the Cristina project was prepared by Independent Mining Consultants Inc. (“IMC”), with an effective date of January 1, 2023. as disclosed in the Company’s news release dated October 30, 2023  (click here for details)

For more technical details click here for Technical Report 43-101

Qualified Person

Mr. Jacob W. Richey, P.E. of IMC is the Qualified Person responsible for the MRE. Mr. Charlie Ronkos, MMSA is the Chief Operating Officer of TCP1 and the Qualified Person for the remaining technical information. The QPs have reviewed and approved the technical information herein.