Kolpa (Huachocolpa Uno) — silver & copper mine

100%-owned silver-zinc-lead-copper polymetallic mine in Huancavelica Province, Peru, ~490 km southeast of Lima. Acquired by Endeavour May 1, 2025 (Compañia Minera Kolpa S.A.) for $134.3M ($78M cash + $48.4M shares + $7.9M contingent, plus up to $10M further contingent on resource thresholds; assumed $25.8M Kolpa debt). Main asset Huachocolpa Uno: Bienaventurada UG (~1,200 tpd longhole/cut-and-fill) + Yen open pit (~300 tpd). 11 deposits (Bienaventurada, EM Poderosa, Tajo Yen, Escondida, Escopeta, Chonta, Teresita, Yen NE, Rublo, Coricancha, Pepito). Historical MRE effective Aug 31, 2024 (revised Oct 2024) — NOT current per Endeavour QPs. NSR cut-offs $34.20/t UG, $23.30/t Yen open cast. Resource prices: Zn $1.59/lb, Pb $1.16/lb, Cu $5.36/lb, Ag $31.20/oz. May 2025 10-yr Versamet Copper Stream ($35M prepayment for 95.8% of Cu / 0.03 lb Cu per lb Pb until 6,000 t delivered, then 71.85%/47.9%). 8M ended Dec 31 2025: $18.6M capex; 138 holes / 24,038 m + 5,426 m exploration drift at $4.2M. 2026 plan $26.5M ($16.7M plant expansion to 2,500 tpd inc. new ball mill + flotation upgrades + TSF expansion; $2.7M 3.5 km mine dev; $7.1M infrastructure).