Austral Gold Announces Updated Guanaco Technical Report

Original announcement by tmx on

Company
Austral Gold Limited
Ticker
AGLD
Exchange
TSX
Region
Antofagasta Region, Chile
Primary commodity
Gold
Secondary commodities
Silver, Copper
Document categories
Resource update, Metallurgy
Extracted
2026-09-13 10:41:08 UTC

Analysis by Minestarters Atlas

Minestarters Atlas analysis

Summary

Austral Gold announced an updated NI 43-101 and JORC-compliant technical report for its Guanaco Mine in Chile, outlining a 14-year mine life and a post-tax NPV of US$192.1 million. The report details Proven and Probable Mineral Reserves of 18.1 Mt at 0.84 g/t Au and 5.43 g/t Ag, containing 352 Koz Au and 1.493 Moz Ag, alongside Measured & Indicated Resources of 17.0 Mt at 0.94 g/t Au and 6.11 g/t Ag. A significant portion of the reserves (32% of tonnes) is contingent on obtaining environmental permits for the Inesperada and Dumbo areas.

Reasoning: The updated technical report outlines a significantly improved project NPV and extended mine life for the Guanaco Mine, supported by updated resource and reserve estimates, although a material portion of the reserves is contingent on future permitting.

Positive factors

  • Increased NPV to US$192.1 million
  • Extended mine life to 14 years
  • Updated Mineral Resource and Reserve estimates
  • Leveraging existing infrastructure reduces execution risk and capital intensity
  • Report is NI 43-101 and JORC compliant
  • Qualified Persons sign-off

Negative factors

  • Substantial portion of Mineral Reserves (32% of tonnes, 53% of gold, 55% of silver) is contingent on outstanding environmental permits for Inesperada and Dumbo areas, targeted for Q4 2026 / Q1 2027

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 38

Classification and evidence

Heap Leach Routeneutral

Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: the document describes a heap_leach route ("heap leach")

Mill Routeneutral

Processing via mill or concentrator (CIL, CIP, tank leach, flotation).

Why it applies: the document describes a mill_cil route ("agitated leach")

Gravity Routeneutral

Gravity separation forms a material part of the flowsheet.

Why it applies: the document describes a gravity route ("gravity")

Single Domain Onlynegative

Testing limited to one composite or domain — representativeness not established.

Why it applies: only one composite was tested

Extracted facts

Stored fact records: 38. Some facts used in scoring do not have a stored record.

Resource Estimates (36)

measuredGuanaco Mine · goldTonnes: 18000Grade: 7.93Grade Unit: g/tContained Metal: 5Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:319ee04e4b983d5b86b4
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
18000
Grade
7.93
Grade Unit
g/t
Contained Metal
5
Contained Unit
koz

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
8.08
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: High-grade gold in the Measured category provides strong confidence for future mine planning.

Positive factors

  • High grade for Measured category
  • Highest confidence category

Evidence · table

“7.93”

Context: 18

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

measuredGuanaco Mine · silverTonnes: 18000Grade: 11.74Grade Unit: g/tContained Metal: 7Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:319ee04e4b983d5b86b4
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
18000
Grade
11.74
Grade Unit
g/t
Contained Metal
7
Contained Unit
koz

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
8.08
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good silver grade in the Measured category contributes to the overall project value.

Positive factors

  • Good grade for Measured category
  • Highest confidence category

Evidence · table

“11.74”

Context: 18

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

measuredGuanaco Mine · copperTonnes: 18000Grade: 0.0197Grade Unit: %View all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
copper
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:319ee04e4b983d5b86b4
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
measured
Tonnes
18000
Grade
0.0197
Grade Unit
%

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
8.08
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Trace copper grade in the Measured category, likely a byproduct.

Evidence · table

“197”

Context: 18

Tags used in scoring

Measured Resourcepositive

Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

indicatedGuanaco Mine · goldTonnes: 8941000Grade: 1.12Grade Unit: g/tContained Metal: 322Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:422d348226db4b49c4f9
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
8941000
Grade
1.12
Grade Unit
g/t
Contained Metal
322
Contained Unit
koz

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
1.22
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good gold grade for a substantial Indicated resource, providing confidence for economic studies.

Positive factors

  • Significant tonnage in Indicated category

Evidence · table

“1.12”

Context: 8,941

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

indicatedGuanaco Mine · silverTonnes: 8941000Grade: 8.58Grade Unit: g/tContained Metal: 2466Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:422d348226db4b49c4f9
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
8941000
Grade
8.58
Grade Unit
g/t
Contained Metal
2466
Contained Unit
koz

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
1.22
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good silver grade for a substantial Indicated resource, contributing to project economics.

Positive factors

  • Significant tonnage in Indicated category

Evidence · table

“8.58”

Context: 8,941

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

indicatedGuanaco Mine · copperTonnes: 8941000Grade: 0.0935Grade Unit: %View all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
copper
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:422d348226db4b49c4f9
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
8941000
Grade
0.0935
Grade Unit
%

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
1.22
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Trace copper grade in the Indicated category, likely a byproduct.

Evidence · table

“935”

Context: 8,941

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

inferredGuanaco Mine · goldTonnes: 2033000Grade: 1.17Grade Unit: g/tContained Metal: 77Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:d63e6c7ff6ba5d95762c
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
2033000
Grade
1.17
Grade Unit
g/t
Contained Metal
77
Contained Unit
koz

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
1.25
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate gold grade in the Inferred category, indicating potential for future conversion.

Negative factors

  • Lower confidence category

Evidence · table

“1.17”

Context: 2,033

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

inferredGuanaco Mine · silverTonnes: 2033000Grade: 7.14Grade Unit: g/tContained Metal: 466Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:d63e6c7ff6ba5d95762c
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
2033000
Grade
7.14
Grade Unit
g/t
Contained Metal
466
Contained Unit
koz

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
1.25
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate silver grade in the Inferred category, indicating potential for future conversion.

Negative factors

  • Lower confidence category

Evidence · table

“7.14”

Context: 2,033

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

inferredGuanaco Mine · copperTonnes: 2033000Grade: 0.0325Grade Unit: %View all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
copper
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:d63e6c7ff6ba5d95762c
Deposit or zone
Open-Pit
Mining method
combined
Ownership percent
100 %

Resource Data

Category
inferred
Tonnes
2033000
Grade
0.0325
Grade Unit
%

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
1.25
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Trace copper grade in the Inferred category, likely a byproduct.

Evidence · table

“325”

Context: 2,033

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

indicatedGuanaco Mine · goldTonnes: 8062000Grade: 0.71Grade Unit: g/tContained Metal: 184Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:52d029249e07820a5c21
Deposit or zone
Heaps
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
8062000
Grade
0.71
Grade Unit
g/t
Contained Metal
184
Contained Unit
koz

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
0.74
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate gold grade in Indicated category from heap material, representing a re-processing opportunity.

Positive factors

  • Large tonnage from existing heaps
  • Indicated confidence

Evidence · table

“0.71”

Context: 8,062

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

indicatedGuanaco Mine · silverTonnes: 8062000Grade: 3.09Grade Unit: g/tContained Metal: 796Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:52d029249e07820a5c21
Deposit or zone
Heaps
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
8062000
Grade
3.09
Grade Unit
g/t
Contained Metal
796
Contained Unit
koz

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
0.74
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate silver grade in Indicated category from heap material, contributing to re-processing economics.

Positive factors

  • Large tonnage from existing heaps
  • Indicated confidence

Evidence · table

“3.09”

Context: 8,062

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

indicatedGuanaco Mine · copperTonnes: 8062000Grade: 0.1627Grade Unit: %View all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
copper
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Marcos Valencia, Guillermo Valdés, Francisco Pavez
Resource group id
resource:52d029249e07820a5c21
Deposit or zone
Heaps
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
indicated
Tonnes
8062000
Grade
0.1627
Grade Unit
%

Prior Estimate

Resource Date
2025-11-30

Metal Equivalent

Metal Eq. Grade
0.74
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Low copper grade in Indicated category from heap material, likely a byproduct.

Evidence · table

“1,627”

Context: 8,062

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 8156000Grade: 1.13Grade Unit: g/tContained Metal: 262Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:d48e5af21ca4a35feffd
Deposit or zone
TOTAL OPEN PIT
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
8156000
Grade
1.13
Grade Unit
g/t
Contained Metal
262
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Solid gold grade and contained metal in the Probable Reserve category for open pit operations.

Positive factors

  • Good grade for Probable Reserve
  • Significant contained metal

Evidence · table

“1.13”

Context: 8,156

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 8156000Grade: 8.38Grade Unit: g/tContained Metal: 1236Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:d48e5af21ca4a35feffd
Deposit or zone
TOTAL OPEN PIT
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
8156000
Grade
8.38
Grade Unit
g/t
Contained Metal
1236
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Solid silver grade and contained metal in the Probable Reserve category for open pit operations.

Positive factors

  • Good grade for Probable Reserve
  • Significant contained metal

Evidence · table

“8.38”

Context: 8,156

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 9983000Grade: 0.6Grade Unit: g/tContained Metal: 90Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:25022e030a094e81170b
Deposit or zone
TOTAL HEAP
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
9983000
Grade
0.6
Grade Unit
g/t
Contained Metal
90
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate gold grade in Probable Reserve category from heap material, representing a re-processing opportunity.

Positive factors

  • Large tonnage from existing heaps
  • Probable Reserve confidence

Evidence · table

“0.60”

Context: 9,983

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 9983000Grade: 3.01Grade Unit: g/tContained Metal: 257Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:25022e030a094e81170b
Deposit or zone
TOTAL HEAP
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
9983000
Grade
3.01
Grade Unit
g/t
Contained Metal
257
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate silver grade in Probable Reserve category from heap material, contributing to re-processing economics.

Positive factors

  • Large tonnage from existing heaps
  • Probable Reserve confidence

Evidence · table

“3.01”

Context: 9,983

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 4099000Grade: 1.19Grade Unit: g/tContained Metal: 137Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:d65803311928bfafb7a6
Deposit or zone
Dumbo -Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
4099000
Grade
1.19
Grade Unit
g/t
Contained Metal
137
Contained Unit
koz
Cutoff Grade
0.44
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Solid gold grade and contained metal in the Probable Reserve category for Dumbo - Phase 1.

Positive factors

  • Good grade for Probable Reserve
  • Significant contained metal

Evidence · table

“1.19”

Context: 4,099

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 4099000Grade: 5.35Grade Unit: g/tContained Metal: 386Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:d65803311928bfafb7a6
Deposit or zone
Dumbo -Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
4099000
Grade
5.35
Grade Unit
g/t
Contained Metal
386
Contained Unit
koz
Cutoff Grade
0.44
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Solid silver grade and contained metal in the Probable Reserve category for Dumbo - Phase 1.

Positive factors

  • Good grade for Probable Reserve
  • Significant contained metal

Evidence · table

“5.35”

Context: 4,099

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 1042000Grade: 0.9Grade Unit: g/tContained Metal: 26Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:a16da6c1fb1c3cabdd58
Deposit or zone
Defensa-Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
1042000
Grade
0.9
Grade Unit
g/t
Contained Metal
26
Contained Unit
koz
Cutoff Grade
0.4
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good gold grade in the Probable Reserve category for Defensa - Phase 1.

Positive factors

  • Good grade for Probable Reserve

Evidence · table

“0.90”

Context: 1,042

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 1042000Grade: 11.04Grade Unit: g/tContained Metal: 205Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:a16da6c1fb1c3cabdd58
Deposit or zone
Defensa-Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
1042000
Grade
11.04
Grade Unit
g/t
Contained Metal
205
Contained Unit
koz
Cutoff Grade
0.4
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: High silver grade in the Probable Reserve category for Defensa - Phase 1.

Positive factors

  • High silver grade for Probable Reserve

Evidence · table

“11.04”

Context: 1,042

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 867000Grade: 1.5Grade Unit: g/tContained Metal: 38Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:3010d2876dc88f1b7946
Deposit or zone
Perseverancia- -Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
867000
Grade
1.5
Grade Unit
g/t
Contained Metal
38
Contained Unit
koz
Cutoff Grade
0.44
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: High gold grade in the Probable Reserve category for Perseverancia - Phase 1.

Positive factors

  • High gold grade for Probable Reserve

Evidence · table

“1.50”

Context: 867

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 867000Grade: 10.02Grade Unit: g/tContained Metal: 159Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:3010d2876dc88f1b7946
Deposit or zone
Perseverancia- -Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
867000
Grade
10.02
Grade Unit
g/t
Contained Metal
159
Contained Unit
koz
Cutoff Grade
0.44
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: High silver grade in the Probable Reserve category for Perseverancia - Phase 1.

Positive factors

  • High silver grade for Probable Reserve

Evidence · table

“10.02”

Context: 867

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 154000Grade: 1.17Grade Unit: g/tContained Metal: 5Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:f0d0a60f8cbcb2f15ffc
Deposit or zone
Perseverancia- -Phase 2
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
154000
Grade
1.17
Grade Unit
g/t
Contained Metal
5
Contained Unit
koz
Cutoff Grade
0.44
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good gold grade in the Probable Reserve category for Perseverancia - Phase 2.

Positive factors

  • Good gold grade for Probable Reserve

Evidence · table

“1.17”

Context: 154

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 154000Grade: 11.34Grade Unit: g/tContained Metal: 33Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:f0d0a60f8cbcb2f15ffc
Deposit or zone
Perseverancia- -Phase 2
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
154000
Grade
11.34
Grade Unit
g/t
Contained Metal
33
Contained Unit
koz
Cutoff Grade
0.44
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: High silver grade in the Probable Reserve category for Perseverancia - Phase 2.

Positive factors

  • High silver grade for Probable Reserve

Evidence · table

“11.34”

Context: 154

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 116000Grade: 1.37Grade Unit: g/tContained Metal: 5Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:30237b5eb7abb118c568
Deposit or zone
Perseverancia- -Phase 3
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
116000
Grade
1.37
Grade Unit
g/t
Contained Metal
5
Contained Unit
koz
Cutoff Grade
0.44
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good gold grade in the Probable Reserve category for Perseverancia - Phase 3.

Positive factors

  • Good gold grade for Probable Reserve

Evidence · table

“1.37”

Context: 116

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 116000Grade: 5.26Grade Unit: g/tContained Metal: 10Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:30237b5eb7abb118c568
Deposit or zone
Perseverancia- -Phase 3
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
116000
Grade
5.26
Grade Unit
g/t
Contained Metal
10
Contained Unit
koz
Cutoff Grade
0.44
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good silver grade in the Probable Reserve category for Perseverancia - Phase 3.

Positive factors

  • Good silver grade for Probable Reserve

Evidence · table

“5.26”

Context: 116

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 95000Grade: 1.07Grade Unit: g/tContained Metal: 3Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:fb5962b15af35ce89f36
Deposit or zone
Quillota--Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
95000
Grade
1.07
Grade Unit
g/t
Contained Metal
3
Contained Unit
koz
Cutoff Grade
0.41
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good gold grade in the Probable Reserve category for Quillota - Phase 1.

Positive factors

  • Good gold grade for Probable Reserve

Evidence · table

“1.07”

Context: 95

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 95000Grade: 3.6Grade Unit: g/tContained Metal: 6Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:fb5962b15af35ce89f36
Deposit or zone
Quillota--Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
95000
Grade
3.6
Grade Unit
g/t
Contained Metal
6
Contained Unit
koz
Cutoff Grade
0.41
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good silver grade in the Probable Reserve category for Quillota - Phase 1.

Positive factors

  • Good silver grade for Probable Reserve

Evidence · table

“3.60”

Context: 95

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 1783000Grade: 0.94Grade Unit: g/tContained Metal: 48Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:e07f81c32cc33d9a71e9
Deposit or zone
Inesperada--Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
1783000
Grade
0.94
Grade Unit
g/t
Contained Metal
48
Contained Unit
koz
Cutoff Grade
0.46
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Good gold grade in the Probable Reserve category for Inesperada - Phase 1.

Positive factors

  • Good gold grade for Probable Reserve

Evidence · table

“0.94”

Context: 1,783

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 1783000Grade: 13.23Grade Unit: g/tContained Metal: 437Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:e07f81c32cc33d9a71e9
Deposit or zone
Inesperada--Phase 1
Mining method
combined
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
1783000
Grade
13.23
Grade Unit
g/t
Contained Metal
437
Contained Unit
koz
Cutoff Grade
0.46
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: High silver grade in the Probable Reserve category for Inesperada - Phase 1.

Positive factors

  • High silver grade for Probable Reserve

Evidence · table

“13.23”

Context: 1,783

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 4183000Grade: 0.51Grade Unit: g/tContained Metal: 36Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:05822ebebc4a276f4db3
Deposit or zone
Heap 1
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
4183000
Grade
0.51
Grade Unit
g/t
Contained Metal
36
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate gold grade in Probable Reserve category from Heap 1 material.

Positive factors

  • Large tonnage from existing heap
  • Probable Reserve confidence

Evidence · table

“0.51”

Context: 4,183

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 4183000Grade: 2.76Grade Unit: g/tContained Metal: 111Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:05822ebebc4a276f4db3
Deposit or zone
Heap 1
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
4183000
Grade
2.76
Grade Unit
g/t
Contained Metal
111
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate silver grade in Probable Reserve category from Heap 1 material.

Positive factors

  • Large tonnage from existing heap
  • Probable Reserve confidence

Evidence · table

“2.76”

Context: 4,183

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 2621000Grade: 0.61Grade Unit: g/tContained Metal: 19Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:800acc885aca4a3213d8
Deposit or zone
Heap 2
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
2621000
Grade
0.61
Grade Unit
g/t
Contained Metal
19
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate gold grade in Probable Reserve category from Heap 2 material.

Positive factors

  • Probable Reserve confidence

Evidence · table

“0.61”

Context: 2,621

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 2621000Grade: 2.81Grade Unit: g/tContained Metal: 49Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:800acc885aca4a3213d8
Deposit or zone
Heap 2
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
2621000
Grade
2.81
Grade Unit
g/t
Contained Metal
49
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate silver grade in Probable Reserve category from Heap 2 material.

Positive factors

  • Probable Reserve confidence

Evidence · table

“2.81”

Context: 2,621

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · goldTonnes: 3179000Grade: 0.71Grade Unit: g/tContained Metal: 36Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:37aea97d1b2b72ff92bc
Deposit or zone
Heap 3
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
3179000
Grade
0.71
Grade Unit
g/t
Contained Metal
36
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate gold grade in Probable Reserve category from Heap 3 material.

Positive factors

  • Probable Reserve confidence

Evidence · table

“0.71”

Context: 3,179

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

probableGuanaco Mine · silverTonnes: 3179000Grade: 3.51Grade Unit: g/tContained Metal: 96Contained Unit: kozView all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Resource scope

Estimate type
reserve
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Guillermo Valdés
Resource group id
resource:37aea97d1b2b72ff92bc
Deposit or zone
Heap 3
Mining method
combined
Material type
stockpile
Ownership percent
100 %

Resource Data

Category
probable
Tonnes
3179000
Grade
3.51
Grade Unit
g/t
Contained Metal
96
Contained Unit
koz

Prior Estimate

Resource Date
2026-05-29

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Moderate silver grade in Probable Reserve category from Heap 3 material.

Positive factors

  • Probable Reserve confidence

Evidence · table

“3.51”

Context: 3,179

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

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

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

PFS-Supportingneutral

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-Supportingneutral

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

Metallurgical Results (2)

blended operational dataGuanaco Mine · goldRecovery: 72 %View all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
gold
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Test Work

Program Status
detailed
Test Type
blended operational data
Processing Route
blended LOM average
Sample
LOM average

Recovery

Recovery
72 %
Recovery Basis
actual_test

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Average life-of-mine gold recovery of 72% is reported, which is a blended average across different ore types and processing routes.

Evidence · table

“72%”

Context: Avg. metallurgical recovery - gold

Tags used in scoring

Low Recoverynegative

Recovery below the weak band for the commodity and processing route.

Why it applies: 72% is below the weak band (80%)

blended operational dataGuanaco Mine · silverRecovery: 47 %View all details
Link to this fact

Identity

Project
Guanaco Mine
Commodity
silver
Region
chile
Reported Region
Antofagasta Region, Chile
Ticker
AGLD

Test Work

Program Status
detailed
Test Type
blended operational data
Processing Route
blended LOM average
Sample
LOM average

Recovery

Recovery
47 %
Recovery Basis
actual_test

Review

Needs Review
No
Historical
No

Dates

Event date
2026-07-23T00:00:00.000Z

Reasoning: Average life-of-mine silver recovery of 47% is reported, which is a blended average across different ore types and processing routes.

Evidence · table

“47%”

Context: Avg. metallurgical recovery - silver

Tags used in scoring

Low Recoverynegative

Recovery below the weak band for the commodity and processing route.

Why it applies: 47% is below the weak band (75%)

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.