Joaquin

100%-owned silver project in Santa Cruz province, Argentina, acquired in October 2024 via the purchase of Minera Joaquin SA from Pan American Silver Corp; the holding also includes the Cerro Puntudo mining properties acquired from Yamana Argentina Servicios SA, together comprising 16 titles totalling about 35,000 hectares. FY2025 step-out drilling redefined the project's scale, confirming a strike length of more than two kilometres at La Negra (intercepts up to 90 m at 144 g/t AgEq) and a second discovery at La Morocha SE (69 m at 163 g/t AgEq), positioning Joaquin as a cornerstone source of shallow, free-milling silver ounces for the PLUS 150 strategy. A historical foreign estimate exists; an updated JORC Mineral Resource Estimate is targeted for 2026, so no current JORC-compliant mineral resource is defined.