Bolanitos

Underground silver-gold mine acquired from Endeavour Silver Corp. on January 15, 2026. Bolanitos consists of 29 mining concessions totaling approximately 3,046 hectares in and around the city of Guanajuato; includes the Lucero, La Luz, San Miguel and Belen mine areas (no reserves declared at Belen). Classic high-grade silver-gold low-sulphidation epithermal veins typical of the Guanajuato district within La Luz Formation host rocks. Mine staff of 549 personnel plus 210 contractors. Mining methods are long-hole stoping and conventional cut-and-fill. Mineralized material is processed at the on-site Bolanitos flotation plant (1,600 tpd nameplate, currently ~1,100 tpd actual). Subject to 1% NSR government royalty. The only GSilver asset with declared mineral reserves at year-end 2025. 2026-budgeted exploration ~US$1.6M; 2027 ~US$2.7M.