Cerro León

Flagship 100%-owned silver-gold project in the Deseado Massif of Santa Cruz province, Argentina, and the cornerstone of the company's PLUS 150 growth strategy. FY2025 drilling of nearly 30,000 m delivered bonanza-grade intercepts and new discoveries across Marta Norte (36 m at 474 g/t AgEq — the highest silver intercept in the project's history), Karina, Archen, Savary, Kasia, MS Link and Silvia, supporting a district-scale, free-milling, pit-constrained silver-equivalent target. The July 2024 acquisition of the Sierra Blanca project expanded the Cerro León portfolio and consolidated the surrounding vein field. A conceptual JORC Exploration Target has been defined; an updated JORC Mineral Resource Estimate and maiden Scoping Study are targeted for delivery in 2026, so no current mineral resource is yet defined.