Reliquias Mine (Castrovirreyna Project)

Silver Mountain's past-producing polymetallic silver-lead-zinc-gold(-copper) underground mine in the Castrovirreyna district of Huancavelica, Peru, benefiting from existing and fully permitted infrastructure. An Amended and Restated NI 43-101 Technical Report with a Preliminary Economic Assessment supports a restart: pre-tax NPV of C$107 million and IRR of 57% (after-tax NPV C$85 million, IRR 51%) at a 5% discount rate, initial capital of US$24.8 million, a 10-month construction period, a 1.8-year payback, all-in sustaining cost of US$17/oz AgEq and average annual production of 2.2 million ounces AgEq. The mineral resource (effective May 1, 2024; QP Antonio Cruz Bermudez) was updated using 95 drill holes and 5,014 channels from 2022-2023 programs that defined and reinterpreted 21 mineralized structures, reported at a US$52.02 NSR cut-off. Resources are not reserves.