Tangana Mining Unit

Producing underground silver-gold-lead-zinc mine within Silver X's Nueva Recuperada district, central Peru. Commercial production commenced January 2023 at 500 tpd, currently 750 tpd, expanding to ~1,500 tpd. Mining via conventional cut-and-fill and long-hole blasting. Resource of 10.4 Mt @ 7.24 oz/t AgEq (~75.8 Moz AgEq) based on just 4 of 40+ identified veins. Three main structures (Tangana Main producing, Tangana East and Tangana West in development). Concentrate currently processed at Recuperada plant; new on-site Tangana mill planned. Permitted at 720 tpd, targeting 1,000 tpd in 2026 and full PEA capacity of 1,500 tpd. ~14 year mine life per Sept 2025 PEA.