# Aftermath Silver Appoints DRA Global to Lead Berenguela Pre-Feasibility Study Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7 Original source: https://money.tmx.com/en/quote/AAG/news/4963098445255982/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study Publisher: tmx Original announcement: 2026-02-19T13:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Aftermath Silver Ltd. - Ticker: AAG - Exchange: TSX - Region: Peru - Primary commodity: Silver - Secondary commodities: Copper, Manganese, Zinc - Document categories: Resource update, Economic study - Extracted: 2026-09-19 08:03:17 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Aftermath Silver has appointed DRA Global to lead the Preliminary Feasibility Study \(PFS\) for its Berenguela silver-copper-manganese project in Peru. The study will be supported by SENET to provide hydrometallurgical expertise. The announcement also restates the project's existing Mineral Resource Estimate. Reasoning: The announcement of a key engineering partner \(DRA Global\) to lead a PFS is a positive development for project advancement, though the resource data itself is a restatement of a December 2025 MRE. - Positive factor: Appointment of DRA Global to lead PFS - Positive factor: Hydrometallurgical expertise from SENET included - Positive factor: Existing high-quality MRE provided as baseline - Negative factor: QP is a non-independent director Facts used in scoring: 14 ## Classification and evidence **PFS Complete** Polarity: positive Definition: AACE Class 3 study complete. Why it applies: The company has appointed DRA Global to lead the Preliminary Feasibility Study. Evidence · text > appointed DRA Global Limited \("DRA"\) to lead the recently announced Preliminary Feasibility Study \("PFS"\) **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document contains a detailed Mineral Resource Estimate table. Evidence · text > Table 1. Berenguela Ag-Cu-Mn deposit MRE. **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: The QP is identified as a non-independent director, which is disclosed but impacts independence assessment. Evidence · text > Michael Parker, a Fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent qualified person ## Extracted facts Stored fact records: 13. Some facts used in scoring do not have a stored record. ## Resource Estimates (13) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-1) Berenguela · silver Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:83804f126982dbb78fe9 - Deposit or zone: Berenguela #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 101 - Grade Unit: g/t - Contained Metal: 27.7 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. - Positive factor: Strong silver grades in measured category Evidence · table > 101 Context: 8.49 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-2) Berenguela · manganese Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: manganese - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:83804f126982dbb78fe9 - Deposit or zone: Berenguela #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 8.97 - Grade Unit: % - Contained Metal: 0.76 - Contained Unit: mt #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: Restatement of Dec 2025 MRE. Evidence · table > 8.97 Context: 8.49 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-3) Berenguela · copper Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:83804f126982dbb78fe9 - Deposit or zone: Berenguela #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 0.89 - Grade Unit: % - Contained Metal: 166.9 - Contained Unit: mlb #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: Restatement of Dec 2025 MRE. Evidence · table > 0.89 Context: 8.49 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-4) Berenguela · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:83804f126982dbb78fe9 - Deposit or zone: Berenguela #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 0.32 - Grade Unit: % - Contained Metal: 60 - Contained Unit: mlb #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: Restatement of Dec 2025 MRE. Evidence · table > 0.32 Context: 8.49 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-5) Berenguela · silver Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:e7c38808cc1e714f1e9d - Deposit or zone: Berenguela #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 68.5 - Grade Unit: g/t - Contained Metal: 94.9 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 68.5 Context: 43.06 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-6) Berenguela · copper Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:e7c38808cc1e714f1e9d - Deposit or zone: Berenguela #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 0.58 - Grade Unit: % - Contained Metal: 550.2 - Contained Unit: mlb #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 0.58 Context: 43.06 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-7) Berenguela · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:e7c38808cc1e714f1e9d - Deposit or zone: Berenguela #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 0.33 - Grade Unit: % - Contained Metal: 312.5 - Contained Unit: mlb #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 0.33 Context: 43.06 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-8) Berenguela · silver Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:26d0436104ae5a6a428f - Deposit or zone: Berenguela #### Resource Data - Category: indicated - Tonnes: 51550000 - Grade: 73.9 - Grade Unit: g/t - Contained Metal: 122.5 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 73.9 Context: 51.55 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-9) Berenguela · copper Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:26d0436104ae5a6a428f - Deposit or zone: Berenguela #### Resource Data - Category: indicated - Tonnes: 51550000 - Grade: 0.63 - Grade Unit: % - Contained Metal: 717.1 - Contained Unit: mlb #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 0.63 Context: 51.55 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-10) Berenguela · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:26d0436104ae5a6a428f - Deposit or zone: Berenguela #### Resource Data - Category: indicated - Tonnes: 51550000 - Grade: 0.33 - Grade Unit: % - Contained Metal: 372.4 - Contained Unit: mlb #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 0.33 Context: 51.55 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-11) Berenguela · silver Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:261d8acea88b89096a26 - Deposit or zone: Berenguela #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 47.6 - Grade Unit: g/t - Contained Metal: 22 - Contained Unit: moz #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 47.6 Context: 14.33 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-12) Berenguela · copper Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:261d8acea88b89096a26 - Deposit or zone: Berenguela #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 0.37 - Grade Unit: % - Contained Metal: 118.4 - Contained Unit: mlb #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 0.37 Context: 14.33 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-appoints-dra-global-to-lead-berenguela-pre-feasibility-study--fa9da9c7-8ebc-4f94-bccd-61d47f9622c7#fact-resource-facts-13) Berenguela · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2025-12-04T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Michael Parker - Resource group id: resource:261d8acea88b89096a26 - Deposit or zone: Berenguela #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 0.25 - Grade Unit: % - Contained Metal: 80 - Contained Unit: mlb #### Prior Estimate - Resource Date: 2025-12-04 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-12-04T00:00:00.000Z #### Dates - Event date: 2026-02-19T00:00:00.000Z Reasoning: This is a restatement of the MRE published on December 4, 2025. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Strong silver grades in measured category Evidence · table > 0.25 Context: 14.33 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.