San Ignacio — gold & silver mine

Underground silver-gold mine located approximately 8 km northwest of the city of Guanajuato in Guanajuato State. Property comprises 7 contiguous and 2 non-contiguous mining concessions totaling 398.18 hectares, held 100% by subsidiary MMR. Acquired from Great Panther in August 2022. Mineralization is low-sulphidation epithermal, hosted in tabular veins, vein stockwork and breccias, including the Melladito, Intermediate, Nombre de Dios, and Purisima vein systems with strike lengths up to 2,200 m. Eighteen veins defined to date. Conventional underground mining (cut-and-fill, resue). Mineralized material historically processed at the Cata plant and currently transported by road for processing at the Bolanitos plant. No mineral reserves have been established. Cost of closure estimated at US$662,521 (December 31, 2022).