# Aftermath Silver Berenguela Silver-Copper-Manganese Project: Contained Silver in Measured and Indicated Resources Increases by 21% to 122.5 Moz, with 22.0 Moz of Silver in Inferred Resources Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/aftermath-silver-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca Original source: https://money.tmx.com/en/quote/AAG/news/5745839897204393/aftermath-silver-berenguela-silver-copper-manganese-project-contained-silver-in- Publisher: tmx Original announcement: 2025-12-04T17:53:00.000Z 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: Manganese - Secondary commodities: Silver, Copper, Zinc - Document categories: Resource update - Extracted: 2026-09-19 08:39:39 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Aftermath Silver announced a new Mineral Resource Estimate for its Berenguela Silver-Copper-Manganese Project in Peru, showing a 28.3% increase in Measured and Indicated \(M&I\) tonnes to 51.55 Mt. Contained silver in M&I resources increased by 21% to 122.5 Moz, with manganese, copper, and zinc also seeing significant increases. The estimate is NI 43-101 compliant, based on an optimized pit shell, and includes successful conversion of Inferred resources to M&I categories. Reasoning: The document reports a significant update to the Berenguela project's Mineral Resource Estimate, showing a substantial increase in Measured and Indicated tonnes and contained metal, particularly silver and manganese, which is the primary economic driver. This de-risks the project and enhances its value. The estimate is NI 43-101 compliant with QP sign-off and detailed QA/QC. - Positive factor: Significant increase in Measured and Indicated \(M&I\) resources, particularly contained silver and manganese, indicating de-risking and improved confidence. - Positive factor: Successful conversion of Inferred resources to M&I categories, enhancing resource quality. - Positive factor: The MRE is NI 43-101 compliant and signed off by a Qualified Person, with robust QA/QC procedures disclosed. - Negative factor: The effective date of the estimate is November 31, 2025, which is in the future relative to the publication date, suggesting a potential discrepancy or forward-looking statement. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 26 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces a new Mineral Resource Estimate for the Berenguela project, detailing updated tonnages and grades across different categories. Evidence · text > Aftermath Silver Berenguela Silver-Copper-Manganese Project: Contained Silver in Measured and Indicated Resources Increases by 21% to 122.5 Moz, with 22.0 Moz of Silver in Inferred Resources Aftermath Silver Berenguela Silver-Copper-Manganese Project: Contained Silver in Measured and Indicated Resources Increases by 21% to 122.5 Moz, with 22.0 Moz of Silver in Inferred Resources Vancouver, British Columbia--\(Newsfile Corp. - December 4, 2025\) - Aftermath Silver Ltd. \(TSXV: AAG\) \(OTCQB: AAGFF\) \(the "Company" or "Aftermath Silver"\) is pleased to announce a new Mineral Resource Estimate \("MRE"\) for the Berenguela silver-copper-manganese deposit located in the Department of Puno in southern Peru \("Berenguela" or the "Project"\). **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The MRE is explicitly stated to be reported in accordance with National Instrument 43‐101. Evidence · text > The MRE is reported in accordance with National Instrument 43‐101 \("NI 43‐101"\) and was completed by BBA International \(Canada\) Inc. \("BBA"\). **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: The MRE was completed by Ms Dinara Nussipakynova, P.Geo., Principal Geologist with BBA who is the QP for the purpose of NI 43‐101. Evidence · text > The Qualified Person is Dinara Nussipakynova, P.Geo., of BBA International Inc. **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The recent infill drilling converted a significant tonnage from the Inferred category to Measured and Indicated \(M&I\). Evidence · text > The recent infill drilling converted a significant tonnage from the Inferred category to Measured and Indicated \(M&I\). **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: Combined M&I resources increased by 11.37 million tonnes or 28.3% to 51.55 million tonnes. Evidence · text > Combined M&I resources increased by 11.37 million tonnes or 28.3% to 51.55 million tonnes. **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Contained Silver in Measured and Indicated Resources Increases by 21% to 122.5 Moz. Evidence · text > Contained Silver in Measured and Indicated Resources Increases by 21% to 122.5 Moz **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Mineral Resources are stated at a cut‐off grade of $137.40 NSR, determined based on economic assumptions provided below. Evidence · text > Mineral Resources are stated at a cut‐off grade of $137.40 NSR, determined based on economic assumptions provided below. **QA/QC Disclosed** Polarity: positive Story-specific tag Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: Aftermath instigated a robust industry standard quality assurance/quality control \("QA/QC"\) program. In the QA/QC program certified reference materials \("CRMs"\}, blanks, and duplicate samples were monitored for Ag, Mn, Cu, and Zn; insertion rates were generally between 5% and 10%. Evidence · text > Aftermath instigated a robust industry standard quality assurance/quality control \("QA/QC"\) program. The database for resource estimation consists of historic data as well as data collected by Aftermath. The previous drilling, carried out predominantly by SSR Mining, was validated by twin and replicate holes, and check assays of coarse rejects and sample assay pulps. Aftermath completed a QA/QC program for their core drilling, covering the period 28 th of August 2024 to the 28 th of February 2025. In the QA/QC program certified reference materials \("CRMs"\}, blanks, and duplicate samples were monitored for Ag, Mn, Cu, and Zn; insertion rates were generally between 5% and 10%. ## Extracted facts Stored fact records: 26. Some facts used in scoring do not have a stored record. ## Resource Estimates (26) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-0) Berenguela · manganese #### Identity - Project: Berenguela - Commodity: manganese - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:378649d2d17dc4d7a7d9 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 8.97 - Grade Unit: % - Contained Metal: 0.76 - Contained Unit: mt - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents a high-confidence Measured resource for manganese, contributing significantly to the project's primary economic driver. - Positive factor: High confidence Measured category for manganese. - Positive factor: Significant contained manganese in the Measured category. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-1) Berenguela · silver #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:378649d2d17dc4d7a7d9 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 101 - Grade Unit: g/t - Contained Metal: 27.7 - Contained Unit: moz - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents a high-confidence Measured resource for silver, a key secondary commodity for the project. - Positive factor: High confidence Measured category for silver. - Positive factor: Significant contained silver in the 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-2) Berenguela · copper #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:378649d2d17dc4d7a7d9 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 0.89 - Grade Unit: % - Contained Metal: 166.9 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents a high-confidence Measured resource for copper, contributing to the project's overall metal inventory. - Positive factor: High confidence Measured category for copper. - Positive factor: Contained copper adds to the polymetallic nature of the project. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-3) Berenguela · zinc #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:378649d2d17dc4d7a7d9 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 0.32 - Grade Unit: % - Contained Metal: 60 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents a high-confidence Measured resource for zinc, further diversifying the project's metal content. - Positive factor: High confidence Measured category for zinc. - Positive factor: Contained zinc adds to the polymetallic nature of the project. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-4) Berenguela · manganese #### Identity - Project: Berenguela - Commodity: manganese - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:2df9eae0ec9755005031 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 5.04 - Grade Unit: % - Contained Metal: 2.17 - Contained Unit: mt - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents an Indicated resource for manganese, adding to the project's primary economic driver with good confidence. - Positive factor: Indicated category for manganese, showing good geological confidence. - Positive factor: Significant contained manganese in the Indicated category. Evidence · table > 5.04 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-5) Berenguela · silver #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:2df9eae0ec9755005031 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 68.5 - Grade Unit: g/t - Contained Metal: 94.9 - Contained Unit: moz - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents an Indicated resource for silver, a key secondary commodity, with good confidence. - Positive factor: Indicated category for silver, showing good geological confidence. - Positive factor: Significant contained silver in the Indicated 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-6) Berenguela · copper #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:2df9eae0ec9755005031 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 0.58 - Grade Unit: % - Contained Metal: 550.2 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents an Indicated resource for copper, contributing to the project's overall metal inventory with good confidence. - Positive factor: Indicated category for copper, showing good geological confidence. - Positive factor: Contained copper adds to the polymetallic nature of the project. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-7) Berenguela · zinc #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:2df9eae0ec9755005031 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 0.33 - Grade Unit: % - Contained Metal: 312.5 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents an Indicated resource for zinc, further diversifying the project's metal content with good confidence. - Positive factor: Indicated category for zinc, showing good geological confidence. - Positive factor: Contained zinc adds to the polymetallic nature of the project. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-8) Berenguela · manganese #### Identity - Project: Berenguela - Commodity: manganese - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2022-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:c3cd753986953bbfccee - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 40180000 - Grade: 5.04 - Grade Unit: % - Contained Metal: 2.93 - Contained Unit: mt - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 - Prior Tonnes: 40180000 - Prior Contained Metal: 2.93 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact highlights the substantial increase in contained manganese in the Measured and Indicated categories, which is a key positive for the project's economics. - Positive factor: Significant increase in M&I contained manganese, indicating de-risking and improved confidence. - Positive factor: Manganese is the primary economic driver of the project. Evidence · text > Manganese increased to 2.93 Mt M&I with 0.47 Mt Inferred resources. #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-9) Berenguela · silver #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:673becfb7afbcd2278b8 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 51550000 - Grade: 73.9 - Grade Unit: g/t - Contained Metal: 122.5 - Contained Unit: moz - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 - Prior Contained Metal: 101.2 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact highlights the substantial increase in contained silver in the Measured and Indicated categories, which is a key positive for the project's economics and a primary focus of the announcement. - Positive factor: Significant increase in M&I contained silver \(21.3 Moz or 21%\), indicating de-risking and improved confidence. - Positive factor: High confidence Measured and Indicated category for silver. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 122.5 against 101.2 previously **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-10) Berenguela · manganese #### Identity - Project: Berenguela - Commodity: manganese - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:52dbfd59478646b4c186 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 3.28 - Grade Unit: % - Contained Metal: 0.47 - Contained Unit: mt - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents Inferred manganese resources, which offer future upside but require further work to upgrade confidence. - Positive factor: Additional manganese resources in the Inferred category provide future exploration potential. - Negative factor: Inferred resources have lower geological confidence and cannot be used for economic studies without further drilling. Evidence · table > 3.28 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-11) Berenguela · silver #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:52dbfd59478646b4c186 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 47.6 - Grade Unit: g/t - Contained Metal: 22 - Contained Unit: moz - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents Inferred silver resources, which offer future upside but require further work to upgrade confidence. - Positive factor: Additional silver resources in the Inferred category provide future exploration potential. - Negative factor: Inferred resources have lower geological confidence and cannot be used for economic studies without further drilling. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-12) Berenguela · copper #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:52dbfd59478646b4c186 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 0.37 - Grade Unit: % - Contained Metal: 118.4 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents Inferred copper resources, which offer future upside but require further work to upgrade confidence. - Positive factor: Additional copper resources in the Inferred category provide future exploration potential. - Negative factor: Inferred resources have lower geological confidence and cannot be used for economic studies without further drilling. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-13) Berenguela · zinc #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:52dbfd59478646b4c186 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 0.25 - Grade Unit: % - Contained Metal: 80 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents Inferred zinc resources, which offer future upside but require further work to upgrade confidence. - Positive factor: Additional zinc resources in the Inferred category provide future exploration potential. - Negative factor: Inferred resources have lower geological confidence and cannot be used for economic studies without further drilling. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-14) Berenguela · silver #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:6acc7546beea976376dc - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 101 - Grade Unit: g/t - Contained Metal: 27.7 - Contained Unit: moz - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents a high-confidence Measured resource for manganese, contributing significantly to the project's primary economic driver. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence Measured category for manganese. - Positive factor: Significant contained manganese in the 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-15) Berenguela · copper #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:6acc7546beea976376dc - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 0.89 - Grade Unit: % - Contained Metal: 166.9 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents a high-confidence Measured resource for manganese, contributing significantly to the project's primary economic driver. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence Measured category for manganese. - Positive factor: Significant contained manganese in the Measured category. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-16) Berenguela · zinc #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:6acc7546beea976376dc - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 8490000 - Grade: 0.32 - Grade Unit: % - Contained Metal: 60 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents a high-confidence Measured resource for manganese, contributing significantly to the project's primary economic driver. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High confidence Measured category for manganese. - Positive factor: Significant contained manganese in the Measured category. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-17) Berenguela · silver #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:05012945fd0997778f5b - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 68.5 - Grade Unit: g/t - Contained Metal: 94.9 - Contained Unit: moz - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents an Indicated resource for manganese, adding to the project's primary economic driver with good confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Indicated category for manganese, showing good geological confidence. - Positive factor: Significant contained manganese in the Indicated 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-18) Berenguela · copper #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:05012945fd0997778f5b - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 0.58 - Grade Unit: % - Contained Metal: 550.2 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents an Indicated resource for manganese, adding to the project's primary economic driver with good confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Indicated category for manganese, showing good geological confidence. - Positive factor: Significant contained manganese in the Indicated 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-19) Berenguela · zinc #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:05012945fd0997778f5b - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 43060000 - Grade: 0.33 - Grade Unit: % - Contained Metal: 312.5 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents an Indicated resource for manganese, adding to the project's primary economic driver with good confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Indicated category for manganese, showing good geological confidence. - Positive factor: Significant contained manganese in the Indicated 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-20) Berenguela · silver #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:12d6f4d5e5577dd2eb2b - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 51550000 - Grade: 73.9 - Grade Unit: g/t - Contained Metal: 122.5 - Contained Unit: moz - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact highlights the substantial increase in contained silver in the Measured and Indicated categories, which is a key positive for the project's economics and a primary focus of the announcement. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant increase in M&I contained silver \(21.3 Moz or 21%\), indicating de-risking and improved confidence. - Positive factor: High confidence Measured and Indicated category for silver. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-21) Berenguela · copper #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:12d6f4d5e5577dd2eb2b - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 51550000 - Grade: 0.63 - Grade Unit: % - Contained Metal: 717.1 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact highlights the substantial increase in contained silver in the Measured and Indicated categories, which is a key positive for the project's economics and a primary focus of the announcement. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant increase in M&I contained silver \(21.3 Moz or 21%\), indicating de-risking and improved confidence. - Positive factor: High confidence Measured and Indicated category for silver. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-22) Berenguela · zinc #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:12d6f4d5e5577dd2eb2b - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 51550000 - Grade: 0.33 - Grade Unit: % - Contained Metal: 372.4 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact highlights the substantial increase in contained silver in the Measured and Indicated categories, which is a key positive for the project's economics and a primary focus of the announcement. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant increase in M&I contained silver \(21.3 Moz or 21%\), indicating de-risking and improved confidence. - Positive factor: High confidence Measured and Indicated category for silver. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-23) Berenguela · silver #### Identity - Project: Berenguela - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:86ca50746b09a2869910 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 47.6 - Grade Unit: g/t - Contained Metal: 22 - Contained Unit: moz - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents Inferred manganese resources, which offer future upside but require further work to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Additional manganese resources in the Inferred category provide future exploration potential. - Negative factor: Inferred resources have lower geological confidence and cannot be used for economic studies without further drilling. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-24) Berenguela · copper #### Identity - Project: Berenguela - Commodity: copper - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:86ca50746b09a2869910 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 0.37 - Grade Unit: % - Contained Metal: 118.4 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents Inferred manganese resources, which offer future upside but require further work to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Additional manganese resources in the Inferred category provide future exploration potential. - Negative factor: Inferred resources have lower geological confidence and cannot be used for economic studies without further drilling. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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-berenguela-silver-copper-manganese-project-contained-silver-in--ce7849e5-bb14-45a5-be16-b7a8cf3854ca#fact-resource-facts-25) Berenguela · zinc #### Identity - Project: Berenguela - Commodity: zinc - Region: peru - Reported Region: Peru - Ticker: AAG #### Resource scope - Estimate type: resource - Effective date: 2023-03-30T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Dinara Nussipakynova - Resource group id: resource:86ca50746b09a2869910 - Deposit or zone: Berenguela Ag-Cu-Mn deposit - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 14330000 - Grade: 0.25 - Grade Unit: % - Contained Metal: 80 - Contained Unit: mlb - Cutoff Grade: 137.4 - Cutoff Unit: USD NSR #### Prior Estimate - Resource Date: 2025-11-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-04T00:00:00.000Z Reasoning: This fact represents Inferred manganese resources, which offer future upside but require further work to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Additional manganese resources in the Inferred category provide future exploration potential. - Negative factor: Inferred resources have lower geological confidence and cannot be used for economic studies without further drilling. 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is 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 **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.