# Economic study demonstrates scale, grade, long life, growth potential and robust financial returns Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1 Original source: https://www.globenewswire.com/news-release/2026/08/25/3350164/0/en/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-financial-returns.html Publisher: globenewswire Original announcement: 2026-08-25T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: FireFly Metals Limited - Ticker: FFM - Exchange: Unavailable - Region: Newfoundland and Labrador, Canada - Primary commodity: Copper - Secondary commodities: Gold, Silver - Document categories: Resource update, Metallurgy - Extracted: 2026-09-12 02:07:11 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary FireFly Metals Limited announced a positive Preliminary Economic Assessment \(PEA\) and an updated Mineral Resource Estimate \(MRE\) for its Green Bay Ming Mine Copper-Gold Project in Canada. The MRE now stands at 60.2Mt @ 2.4% CuEq in Measured and Indicated categories, representing significant growth and higher confidence. The PEA demonstrates robust economics for both 1.8Mtpa and 4.6Mtpa production scenarios, with strong NPVs, IRRs, and high metallurgical recoveries for copper, gold, and silver. Reasoning: The announcement details a substantial update to the Mineral Resource Estimate, showing significant growth in higher-confidence categories and grades, particularly at the Ming Deposit. This underpins a highly positive Preliminary Economic Assessment with strong financial returns and long mine life projections. High metallurgical recoveries further de-risk the project. - Positive factor: Significant increase in Measured and Indicated resources at Ming Deposit - Positive factor: High-grade core zone identified and expanded - Positive factor: Robust PEA results with strong NPV and IRR for both production scenarios - Positive factor: High copper and precious metal recoveries demonstrated - Positive factor: Project located in a tier-one mining jurisdiction with existing infrastructure - Positive factor: Strong financial position and funding pathway outlined Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 50 ## Classification and evidence **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The Ming Deposit M&I resource increased by 21% since the previous updates, indicating a significant upgrade in resource confidence and quantity. Evidence · text > Infill drilling completed at Ming resulted in the M&I increasing by 21% since the previous updates. **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: The Ming Deposit M&I resource increased by 21% since the previous updates, demonstrating significant tonnage growth. Evidence · text > Infill drilling completed at Ming resulted in the M&I increasing by 21% since the previous updates. **Grade Improvement** Polarity: positive Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: Copper equivalent grade also increased by 22% driven primarily by infill drilling of the high-grade core and high-grade VMS zones. Evidence · text > Copper equivalent grade also increased by 22% driven primarily by infill drilling of the high-grade core and high-grade VMS zones. **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: The M&I resource increased by 21% and CuEq grade increased by 22%, indicating substantial growth in contained metal. Evidence · text > Infill drilling completed at Ming resulted in the M&I increasing by 21% since the previous updates. Copper equivalent grade also increased by 22% **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The announcement explicitly lists multiple Qualified Persons responsible for the MRE and PEA, including Brian Thomas \(P.Geo.\) for the Ming Deposit MRE. Evidence · text > Qualified Person Company Qualification Responsibility Brian Thomas WSP Canada Inc. P.Geo. Ming Deposit Mineral Resource Estimate **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Ming Deposit August 2026 MRE was prepared in accordance with the JORC Code \(2012 Edition\). Evidence · text > The Ming Deposit August 2026 MRE \(Table 1\) was prepared in accordance with the JORC Code \(2012 Edition\) **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Ming Deposit August 2026 MRE was prepared in accordance with NI 43-101. Evidence · text > The Ming Deposit August 2026 MRE \(Table 1\) was prepared in accordance with the JORC Code \(2012 Edition\) and NI 43-101 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Mineral Resources have been reported at a 1.0% copper cut-off grade. Evidence · text > Mineral Resources have been reported at a 1.0% copper cut-off grade. **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The Ming Deposit and Green Bay total MRE include a Measured category of 3.5 Mt. Evidence · table > Measured Context: 3.5 **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The Ming Deposit, Little Deer, and Green Bay total MRE include substantial Indicated resources. Evidence · table > Indicated Context: 53.8 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Ming Deposit, Little Deer, and Green Bay total MRE include Inferred resources. Evidence · table > Inferred Context: 17.3 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces an updated Mineral Resource Estimate for the Green Bay Ming Mine Copper-Gold Project. Evidence · text > updated Mineral Resource Estimate \( MRE \) for the Green Bay Ming Mine Copper-Gold Project **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: Copper recovery is anticipated to be >98%, which is exceptional for the commodity and processing route. Evidence · text > recoveries are anticipated to be >98% for copper and >80% on precious metals \(gold and silver\). **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: Extensive metallurgical testwork completed at SGS Lakefield in Canada shows the ore-grade material has favourable physical properties and is amenable to high recoveries. Evidence · text > Extensive metallurgical testwork completed at SGS Lakefield in Canada shows the ore-grade material has favourable physical properties \(strength, grindability, abrasiveness etc.\) and is amenable to high recoveries of copper and precious metals via industry standard processes **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The proposed processing plant utilises a standard simple flow sheet with comminution through a jaw crusher, SAG mill, and Ball Mill, followed by two-stage flotation. Evidence · text > The proposed processing plant utilises a standard simple flow sheet to extract copper and precious metals into a concentrate. Comminution is achieved through a standard jaw crusher followed by a Semi Autogenous Grinding \( SAG \) mill and a Ball Mill. Two stage flotation \(rougher and cleaner\) ## Extracted facts Stored fact records: 50. Some facts used in scoring do not have a stored record. ## Resource Estimates (44) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-0) Ming Deposit · copper #### Identity - Project: Ming Deposit - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:54a50dc55b4ede67619f #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 1.5 - Grade Unit: % - Contained Metal: 52 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This Measured resource provides a high-confidence base for mine planning with a solid copper grade. - Positive factor: High confidence Measured category - Positive factor: Good copper grade for a VMS deposit Evidence · table > 1.5 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-1) Ming Deposit · gold #### Identity - Project: Ming Deposit - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:54a50dc55b4ede67619f #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 20 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The gold grade contributes to the overall economics as a byproduct in the high-confidence Measured category. - Positive factor: High confidence Measured category - Positive factor: Gold as a valuable byproduct Evidence · table > 0.2 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-2) Ming Deposit · silver #### Identity - Project: Ming Deposit - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:54a50dc55b4ede67619f #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 147 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The silver grade contributes to the overall economics as a byproduct in the high-confidence Measured category. - Positive factor: High confidence Measured category - Positive factor: Silver as a valuable byproduct Evidence · table > 1.3 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-3) Ming Deposit · copper #### Identity - Project: Ming Deposit - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:54a50dc55b4ede67619f #### Resource Data - Category: measured - Tonnes: 3500000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Metal Eq. Grade: 1.67 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The copper equivalent grade for the Measured resource indicates strong overall value for this high-confidence material. - Positive factor: High confidence Measured category - Positive factor: Good copper equivalent grade Evidence · table > 1.67 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-4) Ming Deposit · copper #### Identity - Project: Ming Deposit - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:b5647ee72573d6670b84 #### Resource Data - Category: indicated - Tonnes: 53800000 - Grade: 1.9 - Grade Unit: % - Contained Metal: 1041 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This large Indicated resource with a high copper grade and substantial contained metal forms the backbone of the project's economic potential. - Positive factor: Large tonnage in Indicated category - Positive factor: Strong copper grade - Positive factor: Significant contained copper metal Evidence · table > 1.9 Context: 53.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-5) Ming Deposit · gold #### Identity - Project: Ming Deposit - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:b5647ee72573d6670b84 #### Resource Data - Category: indicated - Tonnes: 53800000 - Grade: 0.5 - Grade Unit: g/t - Contained Metal: 878 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial gold content in the Indicated resource significantly enhances the project's overall value. - Positive factor: Significant contained gold metal - Positive factor: Valuable byproduct in large Indicated resource Evidence · table > 0.5 Context: 53.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-6) Ming Deposit · silver #### Identity - Project: Ming Deposit - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:b5647ee72573d6670b84 #### Resource Data - Category: indicated - Tonnes: 53800000 - Grade: 4.5 - Grade Unit: g/t - Contained Metal: 7707 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial silver content in the Indicated resource significantly enhances the project's overall value. - Positive factor: Significant contained silver metal - Positive factor: Valuable byproduct in large Indicated resource Evidence · table > 4.5 Context: 53.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-7) Ming Deposit · copper #### Identity - Project: Ming Deposit - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:b5647ee72573d6670b84 #### Resource Data - Category: indicated - Tonnes: 53800000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Metal Eq. Grade: 2.49 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The high copper equivalent grade for the large Indicated resource highlights the strong overall economic potential of this material. - Positive factor: High copper equivalent grade - Positive factor: Large tonnage in Indicated category Evidence · table > 2.49 Context: 53.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-8) Ming Deposit · copper #### Identity - Project: Ming Deposit - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:1c970b0dae2cd9d16a59 #### Resource Data - Category: indicated - Tonnes: 57300000 - Grade: 1.9 - Grade Unit: % - Contained Metal: 1093 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial total Measured and Indicated resource with high copper grade and contained metal provides a robust foundation for project development. - Positive factor: Very large total M&I tonnage - Positive factor: Strong copper grade - Positive factor: Significant contained copper metal Evidence · table > 1.9 Context: 57.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-9) Ming Deposit · gold #### Identity - Project: Ming Deposit - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:1c970b0dae2cd9d16a59 #### Resource Data - Category: indicated - Tonnes: 57300000 - Grade: 0.5 - Grade Unit: g/t - Contained Metal: 899 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial gold content in the total M&I resource significantly enhances the project's overall value. - Positive factor: Significant contained gold metal - Positive factor: Valuable byproduct in large M&I resource Evidence · table > 0.5 Context: 57.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-10) Ming Deposit · silver #### Identity - Project: Ming Deposit - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:1c970b0dae2cd9d16a59 #### Resource Data - Category: indicated - Tonnes: 57300000 - Grade: 4.3 - Grade Unit: g/t - Contained Metal: 7853 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial silver content in the total M&I resource significantly enhances the project's overall value. - Positive factor: Significant contained silver metal - Positive factor: Valuable byproduct in large M&I resource Evidence · table > 4.3 Context: 57.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-11) Ming Deposit · copper #### Identity - Project: Ming Deposit - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:1c970b0dae2cd9d16a59 #### Resource Data - Category: indicated - Tonnes: 57300000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Metal Eq. Grade: 2.44 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The high copper equivalent grade for the substantial total M&I resource highlights the strong overall economic potential of this material. - Positive factor: High copper equivalent grade - Positive factor: Very large total M&I tonnage Evidence · table > 2.44 Context: 57.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-12) Ming Deposit · copper #### Identity - Project: Ming Deposit - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:cb2a3d6c08fceed7f746 #### Resource Data - Category: inferred - Tonnes: 17300000 - Grade: 2 - Grade Unit: % - Contained Metal: 344 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This Inferred resource provides significant upside potential with a good copper grade, though it requires further drilling to upgrade confidence. - Positive factor: Good copper grade in Inferred category - Positive factor: Potential for future conversion to higher confidence categories - Negative factor: Lower confidence Inferred category Evidence · table > 2.0 Context: 17.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-13) Ming Deposit · gold #### Identity - Project: Ming Deposit - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:cb2a3d6c08fceed7f746 #### Resource Data - Category: inferred - Tonnes: 17300000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 404 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The gold content in the Inferred resource adds to the project's upside potential, pending further definition. - Positive factor: Good gold grade in Inferred category - Positive factor: Potential for future conversion - Negative factor: Lower confidence Inferred category Evidence · table > 0.7 Context: 17.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-14) Ming Deposit · silver #### Identity - Project: Ming Deposit - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:cb2a3d6c08fceed7f746 #### Resource Data - Category: inferred - Tonnes: 17300000 - Grade: 6.3 - Grade Unit: g/t - Contained Metal: 3522 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The silver content in the Inferred resource adds to the project's upside potential, pending further definition. - Positive factor: Good silver grade in Inferred category - Positive factor: Potential for future conversion - Negative factor: Lower confidence Inferred category Evidence · table > 6.3 Context: 17.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-15) Ming Deposit · copper #### Identity - Project: Ming Deposit - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:cb2a3d6c08fceed7f746 #### Resource Data - Category: inferred - Tonnes: 17300000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Metal Eq. Grade: 2.77 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The high copper equivalent grade in the Inferred resource indicates strong potential value, subject to further drilling and confidence upgrade. - Positive factor: High copper equivalent grade in Inferred category - Positive factor: Potential for future conversion - Negative factor: Lower confidence Inferred category Evidence · table > 2.77 Context: 17.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-16) Little Deer · copper #### Identity - Project: Little Deer - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:4950ab1008272a03e650 #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 2.1 - Grade Unit: % - Contained Metal: 62 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This Indicated resource provides a solid, high-grade copper component, though it represents no new information. - Positive factor: Good copper grade in Indicated category - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 2.1 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-17) Little Deer · gold #### Identity - Project: Little Deer - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:4950ab1008272a03e650 #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 9 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The gold content is minor and unchanged, contributing little new value. - Positive factor: Gold as a byproduct - Negative factor: Low gold grade - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 0.1 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-18) Little Deer · silver #### Identity - Project: Little Deer - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:4950ab1008272a03e650 #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 3.4 - Grade Unit: g/t - Contained Metal: 320 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The silver content is a minor byproduct and unchanged, contributing little new value. - Positive factor: Silver as a byproduct - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 3.4 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-19) Little Deer · copper #### Identity - Project: Little Deer - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:4950ab1008272a03e650 #### Resource Data - Category: indicated - Tonnes: 2900000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Metal Eq. Grade: 2.3 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The copper equivalent grade for this Indicated resource is solid, but it represents no new information. - Positive factor: Good copper equivalent grade - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 2.3 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-20) Little Deer · copper #### Identity - Project: Little Deer - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:4950ab1008272a03e650 #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 2.1 - Grade Unit: % - Contained Metal: 62 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This M&I resource provides a solid, high-grade copper component, though it represents no new information. - Positive factor: Good copper grade in M&I category - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 2.1 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-21) Little Deer · gold #### Identity - Project: Little Deer - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:4950ab1008272a03e650 #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 9 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The gold content is minor and unchanged, contributing little new value. - Positive factor: Gold as a byproduct - Negative factor: Low gold grade - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 0.1 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-22) Little Deer · silver #### Identity - Project: Little Deer - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:4950ab1008272a03e650 #### Resource Data - Category: indicated - Tonnes: 2900000 - Grade: 3.4 - Grade Unit: g/t - Contained Metal: 320 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The silver content is a minor byproduct and unchanged, contributing little new value. - Positive factor: Silver as a byproduct - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 3.4 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-23) Little Deer · copper #### Identity - Project: Little Deer - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:4950ab1008272a03e650 #### Resource Data - Category: indicated - Tonnes: 2900000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Metal Eq. Grade: 2.3 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The copper equivalent grade for this M&I resource is solid, but it represents no new information. - Positive factor: Good copper equivalent grade - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 2.3 Context: 2.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-24) Little Deer · copper #### Identity - Project: Little Deer - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:2eb71e5ba48ca773283a #### Resource Data - Category: inferred - Tonnes: 6200000 - Grade: 1.8 - Grade Unit: % - Contained Metal: 110 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This Inferred resource provides upside potential with a good copper grade, but it is unchanged and requires further drilling. - Positive factor: Good copper grade in Inferred category - Negative factor: Lower confidence Inferred category - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 1.8 Context: 6.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-25) Little Deer · gold #### Identity - Project: Little Deer - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:2eb71e5ba48ca773283a #### Resource Data - Category: inferred - Tonnes: 6200000 - Grade: 0.1 - Grade Unit: g/t - Contained Metal: 10 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The gold content is minor and unchanged, contributing little new value. - Negative factor: Low gold grade - Negative factor: Lower confidence Inferred category - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 0.1 Context: 6.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-26) Little Deer · silver #### Identity - Project: Little Deer - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:2eb71e5ba48ca773283a #### Resource Data - Category: inferred - Tonnes: 6200000 - Grade: 2.2 - Grade Unit: g/t - Contained Metal: 430 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The silver content is a minor byproduct and unchanged, contributing little new value. - Negative factor: Lower confidence Inferred category - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 2.2 Context: 6.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-27) Little Deer · copper #### Identity - Project: Little Deer - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:2eb71e5ba48ca773283a #### Resource Data - Category: inferred - Tonnes: 6200000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2025-11-01 #### Metal Equivalent - Metal Eq. Grade: 1.8 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The copper equivalent grade for this Inferred resource is solid, but it is unchanged and requires further drilling. - Positive factor: Good copper equivalent grade - Negative factor: Lower confidence Inferred category - Negative factor: Resource remains unchanged from previous MRE Evidence · table > 1.8 Context: 6.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-28) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:9b0cbb888cc7f7e3c747 #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 1.5 - Grade Unit: % - Contained Metal: 52 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This Measured resource provides a high-confidence base for mine planning with a solid copper grade. - Positive factor: High confidence Measured category - Positive factor: Good copper grade for a VMS deposit Evidence · table > 1.5 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-29) Green Bay · gold #### Identity - Project: Green Bay - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:9b0cbb888cc7f7e3c747 #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 20 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The gold grade contributes to the overall economics as a byproduct in the high-confidence Measured category. - Positive factor: High confidence Measured category - Positive factor: Gold as a valuable byproduct Evidence · table > 0.2 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-30) Green Bay · silver #### Identity - Project: Green Bay - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:9b0cbb888cc7f7e3c747 #### Resource Data - Category: measured - Tonnes: 3500000 - Grade: 1.3 - Grade Unit: g/t - Contained Metal: 147 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The silver grade contributes to the overall economics as a byproduct in the high-confidence Measured category. - Positive factor: High confidence Measured category - Positive factor: Silver as a valuable byproduct Evidence · table > 1.3 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-31) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:9b0cbb888cc7f7e3c747 #### Resource Data - Category: measured - Tonnes: 3500000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Metal Eq. Grade: 1.67 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The copper equivalent grade for the Measured resource indicates strong overall value for this high-confidence material. - Positive factor: High confidence Measured category - Positive factor: Good copper equivalent grade Evidence · table > 1.67 Context: 3.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-32) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:db46ed3379618e6f29ca #### Resource Data - Category: indicated - Tonnes: 56700000 - Grade: 1.9 - Grade Unit: % - Contained Metal: 1103 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This large Indicated resource with a high copper grade and substantial contained metal forms the backbone of the project's economic potential. - Positive factor: Large tonnage in Indicated category - Positive factor: Strong copper grade - Positive factor: Significant contained copper metal Evidence · table > 1.9 Context: 56.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-33) Green Bay · gold #### Identity - Project: Green Bay - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:db46ed3379618e6f29ca #### Resource Data - Category: indicated - Tonnes: 56700000 - Grade: 0.5 - Grade Unit: g/t - Contained Metal: 887 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial gold content in the Indicated resource significantly enhances the project's overall value. - Positive factor: Significant contained gold metal - Positive factor: Valuable byproduct in large Indicated resource Evidence · table > 0.5 Context: 56.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-34) Green Bay · silver #### Identity - Project: Green Bay - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:db46ed3379618e6f29ca #### Resource Data - Category: indicated - Tonnes: 56700000 - Grade: 4.4 - Grade Unit: g/t - Contained Metal: 8027 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial silver content in the Indicated resource significantly enhances the project's overall value. - Positive factor: Significant contained silver metal - Positive factor: Valuable byproduct in large Indicated resource Evidence · table > 4.4 Context: 56.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-35) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:db46ed3379618e6f29ca #### Resource Data - Category: indicated - Tonnes: 56700000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Metal Eq. Grade: 2.48 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The high copper equivalent grade for the large Indicated resource highlights the strong overall economic potential of this material. - Positive factor: High copper equivalent grade - Positive factor: Large tonnage in Indicated category Evidence · table > 2.48 Context: 56.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-36) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:7c6011c27cf9033928ed #### Resource Data - Category: indicated - Tonnes: 60200000 - Grade: 1.9 - Grade Unit: % - Contained Metal: 1155 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial total Measured and Indicated resource with high copper grade and contained metal provides a robust foundation for project development. - Positive factor: Very large total M&I tonnage - Positive factor: Strong copper grade - Positive factor: Significant contained copper metal Evidence · table > 1.9 Context: 60.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-37) Green Bay · gold #### Identity - Project: Green Bay - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:7c6011c27cf9033928ed #### Resource Data - Category: indicated - Tonnes: 60200000 - Grade: 0.5 - Grade Unit: g/t - Contained Metal: 908 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial gold content in the total M&I resource significantly enhances the project's overall value. - Positive factor: Significant contained gold metal - Positive factor: Valuable byproduct in large M&I resource Evidence · table > 0.5 Context: 60.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-38) Green Bay · silver #### Identity - Project: Green Bay - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:7c6011c27cf9033928ed #### Resource Data - Category: indicated - Tonnes: 60200000 - Grade: 4.2 - Grade Unit: g/t - Contained Metal: 8173 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The substantial silver content in the total M&I resource significantly enhances the project's overall value. - Positive factor: Significant contained silver metal - Positive factor: Valuable byproduct in large M&I resource Evidence · table > 4.2 Context: 60.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-39) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:7c6011c27cf9033928ed #### Resource Data - Category: indicated - Tonnes: 60200000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Metal Eq. Grade: 2.43 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The high copper equivalent grade for the substantial total M&I resource highlights the strong overall economic potential of this material. - Positive factor: High copper equivalent grade - Positive factor: Very large total M&I tonnage Evidence · table > 2.43 Context: 60.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-40) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:afef4383342b0ec14453 #### Resource Data - Category: inferred - Tonnes: 23500000 - Grade: 1.9 - Grade Unit: % - Contained Metal: 454 - Contained Unit: kt - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: This Inferred resource provides significant upside potential with a good copper grade, though it requires further drilling to upgrade confidence. - Positive factor: Good copper grade in Inferred category - Positive factor: Potential for future conversion to higher confidence categories - Negative factor: Lower confidence Inferred category Evidence · table > 1.9 Context: 23.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-41) Green Bay · gold #### Identity - Project: Green Bay - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:afef4383342b0ec14453 #### Resource Data - Category: inferred - Tonnes: 23500000 - Grade: 0.6 - Grade Unit: g/t - Contained Metal: 414 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The gold content in the Inferred resource adds to the project's upside potential, pending further definition. - Positive factor: Good gold grade in Inferred category - Positive factor: Potential for future conversion - Negative factor: Lower confidence Inferred category Evidence · table > 0.6 Context: 23.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-42) Green Bay · silver #### Identity - Project: Green Bay - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:afef4383342b0ec14453 #### Resource Data - Category: inferred - Tonnes: 23500000 - Grade: 5.2 - Grade Unit: g/t - Contained Metal: 3952 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The silver content in the Inferred resource adds to the project's upside potential, pending further definition. - Positive factor: Good silver grade in Inferred category - Positive factor: Potential for future conversion - Negative factor: Lower confidence Inferred category Evidence · table > 5.2 Context: 23.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-resource-facts-43) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Resource scope - Estimate type: resource - Reporting standards: jorc, ni\_43\_101 - QP Signed: Yes - Qualified person names: Brian Thomas, Paul Palmer, Augustine Simbanegavi - Resource group id: resource:afef4383342b0ec14453 #### Resource Data - Category: inferred - Tonnes: 23500000 - Cutoff Grade: 1 - Cutoff Unit: % copper #### Prior Estimate - Resource Date: 2026-08-01 #### Metal Equivalent - Metal Eq. Grade: 2.51 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: WSP Canada Inc. #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The high copper equivalent grade in the Inferred resource indicates strong potential value, subject to further drilling and confidence upgrade. - Positive factor: High copper equivalent grade in Inferred category - Positive factor: Potential for future conversion - Negative factor: Lower confidence Inferred category Evidence · table > 2.51 Context: 23.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## Metallurgical Results (6) ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-metallurgical-facts-44) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: standard jaw crusher followed by a Semi Autogenous Grinding \(SAG\) mill and a Ball Mill. Two stage flotation \(rougher and cleaner\) provide exceptional recoveries and production of a high-grade concentrate for shipping \(21-28% Cu, 6-12g/t Au\). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site. #### Recovery - Recovery: 98.2 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Lakefield - Consultant: Ausenco #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The very high copper recovery demonstrates excellent metallurgical performance for the 1.8Mtpa scenario, significantly de-risking the project. - Positive factor: Exceptional copper recovery - Positive factor: Industry standard processing route - Positive factor: Pilot plant scale implied Evidence · table > 98.2 Context: Copper Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 98.2% is at or above the exceptional band \(92%\) ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-metallurgical-facts-45) Green Bay · gold #### Identity - Project: Green Bay - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: standard jaw crusher followed by a Semi Autogenous Grinding \(SAG\) mill and a Ball Mill. Two stage flotation \(rougher and cleaner\) provide exceptional recoveries and production of a high-grade concentrate for shipping \(21-28% Cu, 6-12g/t Au\). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site. #### Recovery - Recovery: 81.3 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Lakefield - Consultant: Ausenco #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The strong gold recovery contributes significantly to the project's economics as a valuable byproduct for the 1.8Mtpa scenario. - Positive factor: Strong gold recovery - Positive factor: Industry standard processing route - Positive factor: Pilot plant scale implied Evidence · table > 81.3 Context: Gold Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-metallurgical-facts-46) Green Bay · silver #### Identity - Project: Green Bay - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: standard jaw crusher followed by a Semi Autogenous Grinding \(SAG\) mill and a Ball Mill. Two stage flotation \(rougher and cleaner\) provide exceptional recoveries and production of a high-grade concentrate for shipping \(21-28% Cu, 6-12g/t Au\). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site. #### Recovery - Recovery: 84.8 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Lakefield - Consultant: Ausenco #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The strong silver recovery contributes significantly to the project's economics as a valuable byproduct for the 1.8Mtpa scenario. - Positive factor: Strong silver recovery - Positive factor: Industry standard processing route - Positive factor: Pilot plant scale implied Evidence · table > 84.8 Context: Silver Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-metallurgical-facts-47) Green Bay · copper #### Identity - Project: Green Bay - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: standard jaw crusher followed by a Semi Autogenous Grinding \(SAG\) mill and a Ball Mill. Two stage flotation \(rougher and cleaner\) provide exceptional recoveries and production of a high-grade concentrate for shipping \(21-28% Cu, 6-12g/t Au\). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site. #### Recovery - Recovery: 98.1 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Lakefield - Consultant: Ausenco #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The very high copper recovery demonstrates excellent metallurgical performance for the 4.6Mtpa scenario, significantly de-risking the project. - Positive factor: Exceptional copper recovery - Positive factor: Industry standard processing route - Positive factor: Pilot plant scale implied Evidence · table > 98.1 Context: Copper Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 98.1% is at or above the exceptional band \(92%\) ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-metallurgical-facts-48) Green Bay · gold #### Identity - Project: Green Bay - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: standard jaw crusher followed by a Semi Autogenous Grinding \(SAG\) mill and a Ball Mill. Two stage flotation \(rougher and cleaner\) provide exceptional recoveries and production of a high-grade concentrate for shipping \(21-28% Cu, 6-12g/t Au\). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site. #### Recovery - Recovery: 80.1 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Lakefield - Consultant: Ausenco #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The strong gold recovery contributes significantly to the project's economics as a valuable byproduct for the 4.6Mtpa scenario. - Positive factor: Strong gold recovery - Positive factor: Industry standard processing route - Positive factor: Pilot plant scale implied Evidence · table > 80.1 Context: Gold Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ### pilot plant [Link to this fact](https://atlas-extractions.minestarters.com/news/economic-study-demonstrates-scale-grade-long-life-growth-potential-and-robust-fi--1fa78d47-b372-440a-87c0-d31a423a5ca1#fact-metallurgical-facts-49) Green Bay · silver #### Identity - Project: Green Bay - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland and Labrador, Canada - Ticker: FFM #### Test Work - Program Status: detailed - Test Type: pilot plant - Processing Route: standard jaw crusher followed by a Semi Autogenous Grinding \(SAG\) mill and a Ball Mill. Two stage flotation \(rougher and cleaner\) provide exceptional recoveries and production of a high-grade concentrate for shipping \(21-28% Cu, 6-12g/t Au\). Precious metal recovery is further enhanced by the collection of a pyrite tail from the cleaner flotation which is leached and a doré produced on site. #### Recovery - Recovery: 84.1 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Lakefield - Consultant: Ausenco #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-25T00:00:00.000Z Reasoning: The strong silver recovery contributes significantly to the project's economics as a valuable byproduct for the 4.6Mtpa scenario. - Positive factor: Strong silver recovery - Positive factor: Industry standard processing route - Positive factor: Pilot plant scale implied Evidence · table > 84.1 Context: Silver Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: test\_type names pilot-scale work ## 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.