Topia

Underground polymetallic silver-gold-lead-zinc mine located in the town of Topia, Durango State, approximately 235 km northwest of Durango City in the western Sierra Madre Occidental. Property comprises 55 contiguous plus 7 outlier mining concessions covering 6,767 hectares, held 100% by MMR. Mineralization in steeply-dipping NE-trending epithermal polymetallic veins hosted in andesite, with galena-sphalerite-pyrite-arsenopyrite-tetrahedrite in quartz-barite-calcite gangue. Mining since the 1500s; previously operated by Penoles (1951-1989) and Great Panther (2005-2022). Acquired from Great Panther in August 2022 with continuous production. Processed at on-site 260 tpd flotation plant producing zinc concentrate and lead-silver-gold concentrate (sold to MK Metals). No current Mineral Resources or Reserves under NI 43-101; only historical Great Panther MRE (effective March 31, 2021) is disclosed and is not being treated as current.