Silver Sand

Single open-pit silver project. Located in the Colavi District of Potosí Department, 33 km northeast of Potosí City at an elevation of 4,072 m. Property comprises the Silver Sand south and north blocks covering 5.42 km2 under Administrative Mining Contracts. August 2024 PFS outlines a 13-year LOM producing ~157 Moz of silver with initial capital costs of $358 million and an after-tax NPV5% of $740 million at $24.00/oz Ag. Key risks include obtaining the Environmental Impact Assessment Study and managing artisanal and small-scale miners in the area. Flagship Bolivian silver asset.