Pan American Silver Reports Mineral Reserves and Mineral Resources as at June 30, 2026

Original announcement by orestocks on

Company
Pan American Silver Corp.
Ticker
PAAS.TO
Exchange
Unavailable
Region
Unavailable
Primary commodity
Silver
Secondary commodities
Gold, Copper, Lead, Zinc
Document categories
Resource update
Extracted
2026-09-19 00:10:37 UTC

Analysis by Minestarters Atlas

Minestarters Atlas analysis

Summary

Pan American Silver reported a significant increase in its mineral reserves and resources as of June 30, 2026, primarily driven by the acquisition of a 44% interest in the Juanicipio mine and successful exploration efforts. The company replaced over 100% of its silver reserves, adding 511.1 million ounces of silver and 6.3 million ounces of gold to Proven and Probable reserves. Measured and Indicated resources now total 1,126.7 million ounces of silver and 7.5 million ounces of gold, with Inferred resources at 437.0 million ounces of silver and 7.2 million ounces of gold.

Reasoning: Pan American Silver reported a substantial increase in its mineral reserves and resources as of June 30, 2026, driven by the acquisition of MAG Silver Corp. (Juanicipio) and successful exploration programs across its portfolio. The company achieved over 100% silver reserve replacement, demonstrating strong operational performance and growth in its core commodities. While gold resources saw a decrease due to divestments, the overall picture is one of significant growth and de-risking for the company's silver and gold assets.

Positive factors

  • Significant increase in contained silver and gold reserves due to acquisition and exploration success
  • Over 100% silver reserve replacement net of depletion
  • Inclusion of Juanicipio (44% interest) adds substantial silver reserves and resources
  • Exploration success at multiple key operations (La Colorada, Jacobina, Timmins, Huaron, San Vicente, Cerro Moro, Minera Florida)
  • High confidence in reporting standards (NI 43-101, CIM Standards, JORC Code for Juanicipio) with QP sign-off

Negative factors

  • Contained gold in M&I and Inferred resources decreased due to divestments

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

Facts used in scoring: 148

Extracted facts

Stored fact records: 148. Some facts used in scoring do not have a stored record.

Resource Estimates (148)

provensilverTonnes: 13200000Grade: 288Grade Unit: g/tContained Metal: 122.6Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:eb0fbaf37ce8ae11ec12
Deposit or zone
Silver Segment

Resource Data

Category
proven
Tonnes
13200000
Grade
288
Grade Unit
g/t
Contained Metal
122.6
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Proven silver reserves for the Silver Segment are substantial, indicating high confidence in the economic viability and geological understanding of these assets.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“288”

Context: 13.2

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provengoldTonnes: 13200000Grade: 0.36Grade Unit: g/tContained Metal: 154Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:eb0fbaf37ce8ae11ec12
Deposit or zone
Silver Segment

Resource Data

Category
proven
Tonnes
13200000
Grade
0.36
Grade Unit
g/t
Contained Metal
154
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Proven gold reserves for the Silver Segment contribute to the overall reserve base with high confidence.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“0.36”

Context: 13.2

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablesilverTonnes: 44000000Grade: 252Grade Unit: g/tContained Metal: 356.8Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:6952e3829d5b080ed315
Deposit or zone
Silver Segment

Resource Data

Category
probable
Tonnes
44000000
Grade
252
Grade Unit
g/t
Contained Metal
356.8
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable silver reserves for the Silver Segment are substantial, indicating strong confidence in the economic viability and geological understanding of these assets.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“252”

Context: 44.0

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablegoldTonnes: 44000000Grade: 0.55Grade Unit: g/tContained Metal: 783Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:6952e3829d5b080ed315
Deposit or zone
Silver Segment

Resource Data

Category
probable
Tonnes
44000000
Grade
0.55
Grade Unit
g/t
Contained Metal
783
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable gold reserves for the Silver Segment contribute to the overall reserve base with strong confidence.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“0.55”

Context: 44.0

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provensilverTonnes: 56400000Grade: 9Grade Unit: g/tContained Metal: 15.5Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:27b86c59f0bc323be56a
Deposit or zone
Gold Segment

Resource Data

Category
proven
Tonnes
56400000
Grade
9
Grade Unit
g/t
Contained Metal
15.5
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Proven silver reserves for the Gold Segment add to the company's overall reserve profile.

Positive factors

  • High confidence category (Proven Reserve)
  • Contributes to overall reserve base

Evidence · table

“9”

Context: 56.4

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provengoldTonnes: 56400000Grade: 1.04Grade Unit: g/tContained Metal: 1879Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:27b86c59f0bc323be56a
Deposit or zone
Gold Segment

Resource Data

Category
proven
Tonnes
56400000
Grade
1.04
Grade Unit
g/t
Contained Metal
1879
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Proven gold reserves for the Gold Segment are substantial, indicating high confidence in the economic viability and geological understanding of these assets.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“1.04”

Context: 56.4

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablesilverTonnes: 90700000Grade: 6Grade Unit: g/tContained Metal: 16.2Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:74887a7d739408e27b54
Deposit or zone
Gold Segment

Resource Data

Category
probable
Tonnes
90700000
Grade
6
Grade Unit
g/t
Contained Metal
16.2
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable silver reserves for the Gold Segment add to the company's overall reserve profile.

Positive factors

  • High confidence category (Probable Reserve)
  • Contributes to overall reserve base

Evidence · table

“6”

Context: 90.7

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablegoldTonnes: 90700000Grade: 1.2Grade Unit: g/tContained Metal: 3511Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:74887a7d739408e27b54
Deposit or zone
Gold Segment

Resource Data

Category
probable
Tonnes
90700000
Grade
1.2
Grade Unit
g/t
Contained Metal
3511
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable gold reserves for the Gold Segment are substantial, indicating strong confidence in the economic viability and geological understanding of these assets.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“1.20”

Context: 90.7

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredsilverTonnes: 20800000Grade: 157Grade Unit: g/tContained Metal: 105Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:2abb86bbc30d33c7d387
Deposit or zone
Silver Segment

Resource Data

Category
measured
Tonnes
20800000
Grade
157
Grade Unit
g/t
Contained Metal
105
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Measured silver resources for the Silver Segment are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“157”

Context: 20.8

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredgoldTonnes: 20800000Grade: 0.11Grade Unit: g/tContained Metal: 70Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:2abb86bbc30d33c7d387
Deposit or zone
Silver Segment

Resource Data

Category
measured
Tonnes
20800000
Grade
0.11
Grade Unit
g/t
Contained Metal
70
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Measured gold resources for the Silver Segment add to the company's overall resource profile.

Positive factors

  • High confidence category (Measured Resource)
  • Contributes to overall resource base

Evidence · table

“0.11”

Context: 20.8

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedsilverTonnes: 426300000Grade: 73Grade Unit: g/tContained Metal: 995.2Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:ec5d3d4bf1a44b0310e0
Deposit or zone
Silver Segment

Resource Data

Category
indicated
Tonnes
426300000
Grade
73
Grade Unit
g/t
Contained Metal
995.2
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated silver resources for the Silver Segment are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“73”

Context: 426.3

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedgoldTonnes: 426300000Grade: 0.02Grade Unit: g/tContained Metal: 297Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:ec5d3d4bf1a44b0310e0
Deposit or zone
Silver Segment

Resource Data

Category
indicated
Tonnes
426300000
Grade
0.02
Grade Unit
g/t
Contained Metal
297
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated gold resources for the Silver Segment add to the company's overall resource profile.

Positive factors

  • High confidence category (Indicated Resource)
  • Contributes to overall resource base

Evidence · table

“0.02”

Context: 426.3

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredsilverTonnes: 65700000Grade: 5Grade Unit: g/tContained Metal: 10.1Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c04c035d9cdc45e5125e
Deposit or zone
Gold Segment

Resource Data

Category
measured
Tonnes
65700000
Grade
5
Grade Unit
g/t
Contained Metal
10.1
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Measured silver resources for the Gold Segment add to the company's overall resource profile.

Positive factors

  • High confidence category (Measured Resource)
  • Contributes to overall resource base

Evidence · table

“5”

Context: 65.7

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredgoldTonnes: 65700000Grade: 1.37Grade Unit: g/tContained Metal: 2884Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c04c035d9cdc45e5125e
Deposit or zone
Gold Segment

Resource Data

Category
measured
Tonnes
65700000
Grade
1.37
Grade Unit
g/t
Contained Metal
2884
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Measured gold resources for the Gold Segment are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“1.37”

Context: 65.7

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedsilverTonnes: 84600000Grade: 6Grade Unit: g/tContained Metal: 16.5Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c601ca57f744f4041a92
Deposit or zone
Gold Segment

Resource Data

Category
indicated
Tonnes
84600000
Grade
6
Grade Unit
g/t
Contained Metal
16.5
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated silver resources for the Gold Segment add to the company's overall resource profile.

Positive factors

  • High confidence category (Indicated Resource)
  • Contributes to overall resource base

Evidence · table

“6”

Context: 84.6

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedgoldTonnes: 84600000Grade: 1.56Grade Unit: g/tContained Metal: 4248Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c601ca57f744f4041a92
Deposit or zone
Gold Segment

Resource Data

Category
indicated
Tonnes
84600000
Grade
1.56
Grade Unit
g/t
Contained Metal
4248
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated gold resources for the Gold Segment are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“1.56”

Context: 84.6

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredsilverTonnes: 150900000Grade: 85Grade Unit: g/tContained Metal: 410.1Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d29c6d5a4ec72a0db81e
Deposit or zone
Silver Segment

Resource Data

Category
inferred
Tonnes
150900000
Grade
85
Grade Unit
g/t
Contained Metal
410.1
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Inferred silver resources for the Silver Segment represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“85”

Context: 150.9

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredgoldTonnes: 150900000Grade: 0.09Grade Unit: g/tContained Metal: 447Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d29c6d5a4ec72a0db81e
Deposit or zone
Silver Segment

Resource Data

Category
inferred
Tonnes
150900000
Grade
0.09
Grade Unit
g/t
Contained Metal
447
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Inferred gold resources for the Silver Segment add to the company's overall resource profile, but with lower confidence.

Positive factors

  • Contributes to overall resource base

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“0.09”

Context: 150.9

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredsilverTonnes: 125200000Grade: 7Grade Unit: g/tContained Metal: 26.9Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:842080df76e4cabd724a
Deposit or zone
Gold Segment

Resource Data

Category
inferred
Tonnes
125200000
Grade
7
Grade Unit
g/t
Contained Metal
26.9
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Inferred silver resources for the Gold Segment add to the company's overall resource profile, but with lower confidence.

Positive factors

  • Contributes to overall resource base

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“7”

Context: 125.2

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredgoldTonnes: 125200000Grade: 1.68Grade Unit: g/tContained Metal: 6773Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:842080df76e4cabd724a
Deposit or zone
Gold Segment

Resource Data

Category
inferred
Tonnes
125200000
Grade
1.68
Grade Unit
g/t
Contained Metal
6773
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Inferred gold resources for the Gold Segment represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“1.68”

Context: 125.2

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenLa Colorada · silverTonnes: 3600000Grade: 325Grade Unit: g/tContained Metal: 37.3Contained Unit: mozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4fe2504aa1081f19549d

Resource Data

Category
proven
Tonnes
3600000
Grade
325
Grade Unit
g/t
Contained Metal
37.3
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada shows strong proven silver reserves with high grade, indicating a valuable and well-defined asset.

Positive factors

  • High confidence category (Proven Reserve)
  • High silver grade
  • Significant contained metal

Evidence · table

“325”

Context: 3.6

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenLa Colorada · goldTonnes: 3600000Grade: 0.23Grade Unit: g/tContained Metal: 26Contained Unit: kozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4fe2504aa1081f19549d

Resource Data

Category
proven
Tonnes
3600000
Grade
0.23
Grade Unit
g/t
Contained Metal
26
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada's proven gold reserves add to the project's overall value.

Positive factors

  • High confidence category (Proven Reserve)
  • Contributes to overall reserve base

Evidence · table

“0.23”

Context: 3.6

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableLa Colorada · silverTonnes: 7000000Grade: 252Grade Unit: g/tContained Metal: 56.9Contained Unit: mozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:fbff29e4aa3ad976836b

Resource Data

Category
probable
Tonnes
7000000
Grade
252
Grade Unit
g/t
Contained Metal
56.9
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada shows strong probable silver reserves with high grade, indicating a valuable and well-defined asset.

Positive factors

  • High confidence category (Probable Reserve)
  • High silver grade
  • Significant contained metal

Evidence · table

“252”

Context: 7.0

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableLa Colorada · goldTonnes: 7000000Grade: 0.24Grade Unit: g/tContained Metal: 55Contained Unit: kozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:fbff29e4aa3ad976836b

Resource Data

Category
probable
Tonnes
7000000
Grade
0.24
Grade Unit
g/t
Contained Metal
55
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada's probable gold reserves add to the project's overall value.

Positive factors

  • High confidence category (Probable Reserve)
  • Contributes to overall reserve base

Evidence · table

“0.24”

Context: 7.0

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenJuanicipio · silverTonnes: 1000000Grade: 410Grade Unit: g/tContained Metal: 13.7Contained Unit: mozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:eab0754e8ea18fcadeab
Ownership percent
44 %

Resource Data

Category
proven
Tonnes
1000000
Grade
410
Grade Unit
g/t
Contained Metal
13.7
Contained Unit
moz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's proven silver reserves are exceptionally high-grade and contribute significantly to Pan American's portfolio, with strong reporting standards.

Positive factors

  • High confidence category (Proven Reserve)
  • Very high silver grade
  • Significant contained metal
  • JORC and NI 43-101 compliant

Evidence · table

“410”

Context: 1.0

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenJuanicipio · goldTonnes: 1000000Grade: 1.3Grade Unit: g/tContained Metal: 43Contained Unit: kozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:eab0754e8ea18fcadeab
Ownership percent
44 %

Resource Data

Category
proven
Tonnes
1000000
Grade
1.3
Grade Unit
g/t
Contained Metal
43
Contained Unit
koz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's proven gold reserves are a valuable addition to Pan American's portfolio, supported by robust reporting standards.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal
  • JORC and NI 43-101 compliant

Evidence · table

“1.30”

Context: 1.0

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableJuanicipio · silverTonnes: 8200000Grade: 169Grade Unit: g/tContained Metal: 44.6Contained Unit: mozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:10b0fcfb0868b97b6694
Ownership percent
44 %

Resource Data

Category
probable
Tonnes
8200000
Grade
169
Grade Unit
g/t
Contained Metal
44.6
Contained Unit
moz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's probable silver reserves are substantial and high-grade, contributing significantly to Pan American's portfolio with strong reporting standards.

Positive factors

  • High confidence category (Probable Reserve)
  • High silver grade
  • Significant contained metal
  • JORC and NI 43-101 compliant

Evidence · table

“169”

Context: 8.2

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableJuanicipio · goldTonnes: 8200000Grade: 1.41Grade Unit: g/tContained Metal: 373Contained Unit: kozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:10b0fcfb0868b97b6694
Ownership percent
44 %

Resource Data

Category
probable
Tonnes
8200000
Grade
1.41
Grade Unit
g/t
Contained Metal
373
Contained Unit
koz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's probable gold reserves are a valuable addition to Pan American's portfolio, supported by robust reporting standards.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal
  • JORC and NI 43-101 compliant

Evidence · table

“1.41”

Context: 8.2

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenHuaron · silverTonnes: 4500000Grade: 138Grade Unit: g/tContained Metal: 19.8Contained Unit: mozView all details
Link to this fact

Identity

Project
Huaron
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:307dd777a1f59ac3c895

Resource Data

Category
proven
Tonnes
4500000
Grade
138
Grade Unit
g/t
Contained Metal
19.8
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Huaron's proven silver reserves are substantial, indicating high confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“138”

Context: 4.5

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableHuaron · silverTonnes: 5500000Grade: 129Grade Unit: g/tContained Metal: 22.8Contained Unit: mozView all details
Link to this fact

Identity

Project
Huaron
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:b714a0136215c6289d17

Resource Data

Category
probable
Tonnes
5500000
Grade
129
Grade Unit
g/t
Contained Metal
22.8
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Huaron's probable silver reserves are substantial, indicating strong confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“129”

Context: 5.5

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenCerro Moro · silverTonnes: 300000Grade: 199Grade Unit: g/tContained Metal: 1.9Contained Unit: mozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c9d6a5933d506ee523d8

Resource Data

Category
proven
Tonnes
300000
Grade
199
Grade Unit
g/t
Contained Metal
1.9
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's proven silver reserves are high-grade, contributing to the overall reserve base.

Positive factors

  • High confidence category (Proven Reserve)
  • High silver grade

Evidence · table

“199”

Context: 0.3

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenCerro Moro · goldTonnes: 300000Grade: 5.27Grade Unit: g/tContained Metal: 50Contained Unit: kozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
gold
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c9d6a5933d506ee523d8

Resource Data

Category
proven
Tonnes
300000
Grade
5.27
Grade Unit
g/t
Contained Metal
50
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's proven gold reserves are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Proven Reserve)
  • Exceptional gold grade

Evidence · table

“5.27”

Context: 0.3

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableCerro Moro · silverTonnes: 800000Grade: 181Grade Unit: g/tContained Metal: 4.7Contained Unit: mozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:37a3630347ea11e66cbb

Resource Data

Category
probable
Tonnes
800000
Grade
181
Grade Unit
g/t
Contained Metal
4.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's probable silver reserves are high-grade, contributing to the overall reserve base.

Positive factors

  • High confidence category (Probable Reserve)
  • High silver grade

Evidence · table

“181”

Context: 0.8

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableCerro Moro · goldTonnes: 800000Grade: 4.31Grade Unit: g/tContained Metal: 112Contained Unit: kozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
gold
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:37a3630347ea11e66cbb

Resource Data

Category
probable
Tonnes
800000
Grade
4.31
Grade Unit
g/t
Contained Metal
112
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's probable gold reserves are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Probable Reserve)
  • Exceptional gold grade

Evidence · table

“4.31”

Context: 0.8

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenSan Vicente · silverTonnes: 1300000Grade: 243Grade Unit: g/tContained Metal: 10.4Contained Unit: mozView all details
Link to this fact

Identity

Project
San Vicente
Commodity
silver
Region
bolivia
Reported Region
Bolivia
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:30de2b34ee6e392d57b2
Ownership percent
95 %

Resource Data

Category
proven
Tonnes
1300000
Grade
243
Grade Unit
g/t
Contained Metal
10.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: San Vicente's proven silver reserves are high-grade and contribute significantly to the company's portfolio.

Positive factors

  • High confidence category (Proven Reserve)
  • High silver grade
  • Significant contained metal

Evidence · table

“243”

Context: 1.3

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableSan Vicente · silverTonnes: 400000Grade: 249Grade Unit: g/tContained Metal: 2.8Contained Unit: mozView all details
Link to this fact

Identity

Project
San Vicente
Commodity
silver
Region
bolivia
Reported Region
Bolivia
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4b85adc53972566ae392
Ownership percent
95 %

Resource Data

Category
probable
Tonnes
400000
Grade
249
Grade Unit
g/t
Contained Metal
2.8
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: San Vicente's probable silver reserves are high-grade and contribute to the company's portfolio.

Positive factors

  • High confidence category (Probable Reserve)
  • High silver grade

Evidence · table

“249”

Context: 0.4

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenEscobal · silverTonnes: 2500000Grade: 486Grade Unit: g/tContained Metal: 39.5Contained Unit: mozView all details
Link to this fact

Identity

Project
Escobal
Commodity
silver
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:644ef8c0d3f0800678a5

Resource Data

Category
proven
Tonnes
2500000
Grade
486
Grade Unit
g/t
Contained Metal
39.5
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's proven silver reserves are exceptionally high-grade and substantial, representing a significant asset for the company.

Positive factors

  • High confidence category (Proven Reserve)
  • Exceptional silver grade
  • Significant contained metal

Evidence · table

“486”

Context: 2.5

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenEscobal · goldTonnes: 2500000Grade: 0.42Grade Unit: g/tContained Metal: 34Contained Unit: kozView all details
Link to this fact

Identity

Project
Escobal
Commodity
gold
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:644ef8c0d3f0800678a5

Resource Data

Category
proven
Tonnes
2500000
Grade
0.42
Grade Unit
g/t
Contained Metal
34
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's proven gold reserves add to the project's overall value.

Positive factors

  • High confidence category (Proven Reserve)
  • Contributes to overall reserve base

Evidence · table

“0.42”

Context: 2.5

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableEscobal · silverTonnes: 22100000Grade: 316Grade Unit: g/tContained Metal: 225Contained Unit: mozView all details
Link to this fact

Identity

Project
Escobal
Commodity
silver
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:fe0601db7ce058566c41

Resource Data

Category
probable
Tonnes
22100000
Grade
316
Grade Unit
g/t
Contained Metal
225
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's probable silver reserves are exceptionally high-grade and substantial, representing a significant asset for the company.

Positive factors

  • High confidence category (Probable Reserve)
  • Exceptional silver grade
  • Significant contained metal

Evidence · table

“316”

Context: 22.1

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableEscobal · goldTonnes: 22100000Grade: 0.34Grade Unit: g/tContained Metal: 244Contained Unit: kozView all details
Link to this fact

Identity

Project
Escobal
Commodity
gold
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:fe0601db7ce058566c41

Resource Data

Category
probable
Tonnes
22100000
Grade
0.34
Grade Unit
g/t
Contained Metal
244
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's probable gold reserves add to the project's overall value.

Positive factors

  • High confidence category (Probable Reserve)
  • Contributes to overall reserve base

Evidence · table

“0.34”

Context: 22.1

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenJacobina · goldTonnes: 14100000Grade: 1.71Grade Unit: g/tContained Metal: 778Contained Unit: kozView all details
Link to this fact

Identity

Project
Jacobina
Commodity
gold
Region
brazil
Reported Region
Brazil
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:2250e81d56ffd49de2ec

Resource Data

Category
proven
Tonnes
14100000
Grade
1.71
Grade Unit
g/t
Contained Metal
778
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Jacobina's proven gold reserves are substantial, indicating high confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“1.71”

Context: 14.1

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableJacobina · goldTonnes: 41000000Grade: 1.74Grade Unit: g/tContained Metal: 2295Contained Unit: kozView all details
Link to this fact

Identity

Project
Jacobina
Commodity
gold
Region
brazil
Reported Region
Brazil
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:de145eb317e984cb3e24

Resource Data

Category
probable
Tonnes
41000000
Grade
1.74
Grade Unit
g/t
Contained Metal
2295
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Jacobina's probable gold reserves are substantial, indicating strong confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“1.74”

Context: 41.0

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenTimmins · goldTonnes: 3700000Grade: 2.8Grade Unit: g/tContained Metal: 334Contained Unit: kozView all details
Link to this fact

Identity

Project
Timmins
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:8546f4fecbe41491b350

Resource Data

Category
proven
Tonnes
3700000
Grade
2.8
Grade Unit
g/t
Contained Metal
334
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Timmins' proven gold reserves are substantial, indicating high confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“2.80”

Context: 3.7

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableTimmins · goldTonnes: 4500000Grade: 2.76Grade Unit: g/tContained Metal: 399Contained Unit: kozView all details
Link to this fact

Identity

Project
Timmins
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:35ee21cd10c04470de06

Resource Data

Category
probable
Tonnes
4500000
Grade
2.76
Grade Unit
g/t
Contained Metal
399
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Timmins' probable gold reserves are substantial, indicating strong confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“2.76”

Context: 4.5

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenEl Peñon · silverTonnes: 1000000Grade: 169Grade Unit: g/tContained Metal: 5.5Contained Unit: mozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:743540c25c7b49fc09d8

Resource Data

Category
proven
Tonnes
1000000
Grade
169
Grade Unit
g/t
Contained Metal
5.5
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's proven silver reserves are high-grade, contributing to the overall reserve base.

Positive factors

  • High confidence category (Proven Reserve)
  • High silver grade

Evidence · table

“169”

Context: 1.0

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenEl Peñon · goldTonnes: 1000000Grade: 4.28Grade Unit: g/tContained Metal: 140Contained Unit: kozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:743540c25c7b49fc09d8

Resource Data

Category
proven
Tonnes
1000000
Grade
4.28
Grade Unit
g/t
Contained Metal
140
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's proven gold reserves are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Proven Reserve)
  • Exceptional gold grade

Evidence · table

“4.28”

Context: 1.0

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableEl Peñon · silverTonnes: 2900000Grade: 106Grade Unit: g/tContained Metal: 9.7Contained Unit: mozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4919d3fd9611b56bc941

Resource Data

Category
probable
Tonnes
2900000
Grade
106
Grade Unit
g/t
Contained Metal
9.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's probable silver reserves are high-grade, contributing to the overall reserve base.

Positive factors

  • High confidence category (Probable Reserve)
  • High silver grade

Evidence · table

“106”

Context: 2.9

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableEl Peñon · goldTonnes: 2900000Grade: 3.24Grade Unit: g/tContained Metal: 298Contained Unit: kozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4919d3fd9611b56bc941

Resource Data

Category
probable
Tonnes
2900000
Grade
3.24
Grade Unit
g/t
Contained Metal
298
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's probable gold reserves are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Probable Reserve)
  • Exceptional gold grade

Evidence · table

“3.24”

Context: 2.9

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenMinera Florida · silverTonnes: 600000Grade: 21Grade Unit: g/tContained Metal: 0.4Contained Unit: mozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:a0399c3345b4417d9228

Resource Data

Category
proven
Tonnes
600000
Grade
21
Grade Unit
g/t
Contained Metal
0.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's proven silver reserves contribute to the overall reserve base.

Positive factors

  • High confidence category (Proven Reserve)

Evidence · table

“21”

Context: 0.6

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenMinera Florida · goldTonnes: 600000Grade: 2.94Grade Unit: g/tContained Metal: 55Contained Unit: kozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:a0399c3345b4417d9228

Resource Data

Category
proven
Tonnes
600000
Grade
2.94
Grade Unit
g/t
Contained Metal
55
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's proven gold reserves are substantial, indicating high confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“2.94”

Context: 0.6

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableMinera Florida · silverTonnes: 2500000Grade: 21Grade Unit: g/tContained Metal: 1.7Contained Unit: mozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:9b920394568c8c14e2b9

Resource Data

Category
probable
Tonnes
2500000
Grade
21
Grade Unit
g/t
Contained Metal
1.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's probable silver reserves contribute to the overall reserve base.

Positive factors

  • High confidence category (Probable Reserve)

Evidence · table

“21”

Context: 2.5

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableMinera Florida · goldTonnes: 2500000Grade: 3Grade Unit: g/tContained Metal: 243Contained Unit: kozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:9b920394568c8c14e2b9

Resource Data

Category
probable
Tonnes
2500000
Grade
3
Grade Unit
g/t
Contained Metal
243
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's probable gold reserves are substantial, indicating strong confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“3.00”

Context: 2.5

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenShahuindo · silverTonnes: 37000000Grade: 8Grade Unit: g/tContained Metal: 9.5Contained Unit: mozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:6ecdf9d5c81757e8ddf5

Resource Data

Category
proven
Tonnes
37000000
Grade
8
Grade Unit
g/t
Contained Metal
9.5
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's proven silver reserves contribute to the overall reserve base.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“8”

Context: 37.0

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

provenShahuindo · goldTonnes: 37000000Grade: 0.48Grade Unit: g/tContained Metal: 572Contained Unit: kozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
gold
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:6ecdf9d5c81757e8ddf5

Resource Data

Category
proven
Tonnes
37000000
Grade
0.48
Grade Unit
g/t
Contained Metal
572
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's proven gold reserves are substantial, indicating high confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Proven Reserve)
  • Significant contained metal

Evidence · table

“0.48”

Context: 37.0

Tags used in scoring

Proven Reservepositive

Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableShahuindo · silverTonnes: 39900000Grade: 4Grade Unit: g/tContained Metal: 4.9Contained Unit: mozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:8dddc748e2cec1d01238

Resource Data

Category
probable
Tonnes
39900000
Grade
4
Grade Unit
g/t
Contained Metal
4.9
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's probable silver reserves contribute to the overall reserve base.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“4”

Context: 39.9

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probableShahuindo · goldTonnes: 39900000Grade: 0.22Grade Unit: g/tContained Metal: 277Contained Unit: kozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
gold
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:8dddc748e2cec1d01238

Resource Data

Category
probable
Tonnes
39900000
Grade
0.22
Grade Unit
g/t
Contained Metal
277
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's probable gold reserves are substantial, indicating strong confidence in the economic viability and geological understanding of the asset.

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“0.22”

Context: 39.9

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredLa Colorada · silverTonnes: 300000Grade: 276Grade Unit: g/tContained Metal: 2.9Contained Unit: mozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4e5b51198f54a8e2f4a2

Resource Data

Category
measured
Tonnes
300000
Grade
276
Grade Unit
g/t
Contained Metal
2.9
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada's measured silver resources are high-grade, indicating strong geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • High silver grade

Evidence · table

“276”

Context: 0.3

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredLa Colorada · goldTonnes: 300000Grade: 0.13Grade Unit: g/tContained Metal: 1Contained Unit: kozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4e5b51198f54a8e2f4a2

Resource Data

Category
measured
Tonnes
300000
Grade
0.13
Grade Unit
g/t
Contained Metal
1
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada's measured gold resources contribute to the project's overall resource base.

Positive factors

  • High confidence category (Measured Resource)

Evidence · table

“0.13”

Context: 0.3

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedLa Colorada · silverTonnes: 700000Grade: 209Grade Unit: g/tContained Metal: 4.6Contained Unit: mozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:fc176c74edec63d8130e

Resource Data

Category
indicated
Tonnes
700000
Grade
209
Grade Unit
g/t
Contained Metal
4.6
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada's indicated silver resources are high-grade, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • High silver grade

Evidence · table

“209”

Context: 0.7

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedLa Colorada · goldTonnes: 700000Grade: 0.16Grade Unit: g/tContained Metal: 3Contained Unit: kozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:fc176c74edec63d8130e

Resource Data

Category
indicated
Tonnes
700000
Grade
0.16
Grade Unit
g/t
Contained Metal
3
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada's indicated gold resources contribute to the project's overall resource base.

Positive factors

  • High confidence category (Indicated Resource)

Evidence · table

“0.16”

Context: 0.7

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredJuanicipio · silverTonnes: 400000Grade: 566Grade Unit: g/tContained Metal: 6.4Contained Unit: mozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:9d2f7658b401c2b29c28
Ownership percent
44 %

Resource Data

Category
measured
Tonnes
400000
Grade
566
Grade Unit
g/t
Contained Metal
6.4
Contained Unit
moz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's measured silver resources are exceptionally high-grade and contribute significantly to Pan American's portfolio, with strong reporting standards.

Positive factors

  • High confidence category (Measured Resource)
  • Exceptional silver grade
  • Significant contained metal
  • JORC and NI 43-101 compliant

Evidence · table

“566”

Context: 0.4

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredJuanicipio · goldTonnes: 400000Grade: 1.48Grade Unit: g/tContained Metal: 17Contained Unit: kozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:9d2f7658b401c2b29c28
Ownership percent
44 %

Resource Data

Category
measured
Tonnes
400000
Grade
1.48
Grade Unit
g/t
Contained Metal
17
Contained Unit
koz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's measured gold resources are a valuable addition to Pan American's portfolio, supported by robust reporting standards.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal
  • JORC and NI 43-101 compliant

Evidence · table

“1.48”

Context: 0.4

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedJuanicipio · silverTonnes: 700000Grade: 190Grade Unit: g/tContained Metal: 4.6Contained Unit: mozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:0ef1157882c5010fe60d
Ownership percent
44 %

Resource Data

Category
indicated
Tonnes
700000
Grade
190
Grade Unit
g/t
Contained Metal
4.6
Contained Unit
moz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's indicated silver resources are substantial and high-grade, contributing significantly to Pan American's portfolio with strong reporting standards.

Positive factors

  • High confidence category (Indicated Resource)
  • High silver grade
  • Significant contained metal
  • JORC and NI 43-101 compliant

Evidence · table

“190”

Context: 0.7

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedJuanicipio · goldTonnes: 700000Grade: 1.36Grade Unit: g/tContained Metal: 33Contained Unit: kozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:0ef1157882c5010fe60d
Ownership percent
44 %

Resource Data

Category
indicated
Tonnes
700000
Grade
1.36
Grade Unit
g/t
Contained Metal
33
Contained Unit
koz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's indicated gold resources are a valuable addition to Pan American's portfolio, supported by robust reporting standards.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal
  • JORC and NI 43-101 compliant

Evidence · table

“1.36”

Context: 0.7

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredHuaron · silverTonnes: 1400000Grade: 92Grade Unit: g/tContained Metal: 4.1Contained Unit: mozView all details
Link to this fact

Identity

Project
Huaron
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:212c9220e95563894b8a

Resource Data

Category
measured
Tonnes
1400000
Grade
92
Grade Unit
g/t
Contained Metal
4.1
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Huaron's measured silver resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“92”

Context: 1.4

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedHuaron · silverTonnes: 3600000Grade: 90Grade Unit: g/tContained Metal: 10.4Contained Unit: mozView all details
Link to this fact

Identity

Project
Huaron
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:8f08a4084e6cd6dcf0a1

Resource Data

Category
indicated
Tonnes
3600000
Grade
90
Grade Unit
g/t
Contained Metal
10.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Huaron's indicated silver resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“90”

Context: 3.6

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredCerro Moro · silverTonnes: 100000Grade: 174Grade Unit: g/tContained Metal: 0.4Contained Unit: mozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:7a180bbb43524ca18255

Resource Data

Category
measured
Tonnes
100000
Grade
174
Grade Unit
g/t
Contained Metal
0.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's measured silver resources are high-grade, indicating strong geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • High silver grade

Evidence · table

“174”

Context: 0.1

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredCerro Moro · goldTonnes: 100000Grade: 4.77Grade Unit: g/tContained Metal: 11Contained Unit: kozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
gold
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:7a180bbb43524ca18255

Resource Data

Category
measured
Tonnes
100000
Grade
4.77
Grade Unit
g/t
Contained Metal
11
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's measured gold resources are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Measured Resource)
  • Exceptional gold grade

Evidence · table

“4.77”

Context: 0.1

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedCerro Moro · silverTonnes: 600000Grade: 212Grade Unit: g/tContained Metal: 4.2Contained Unit: mozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:8d14821c5e1a7194986c

Resource Data

Category
indicated
Tonnes
600000
Grade
212
Grade Unit
g/t
Contained Metal
4.2
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's indicated silver resources are high-grade, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • High silver grade

Evidence · table

“212”

Context: 0.6

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedCerro Moro · goldTonnes: 600000Grade: 3.81Grade Unit: g/tContained Metal: 76Contained Unit: kozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
gold
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:8d14821c5e1a7194986c

Resource Data

Category
indicated
Tonnes
600000
Grade
3.81
Grade Unit
g/t
Contained Metal
76
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's indicated gold resources are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Indicated Resource)
  • Exceptional gold grade

Evidence · table

“3.81”

Context: 0.6

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredSan Vicente · silverTonnes: 600000Grade: 161Grade Unit: g/tContained Metal: 3.1Contained Unit: mozView all details
Link to this fact

Identity

Project
San Vicente
Commodity
silver
Region
bolivia
Reported Region
Bolivia
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c8051afecc69249ec879
Ownership percent
95 %

Resource Data

Category
measured
Tonnes
600000
Grade
161
Grade Unit
g/t
Contained Metal
3.1
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: San Vicente's measured silver resources are high-grade, indicating strong geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • High silver grade

Evidence · table

“161”

Context: 0.6

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedSan Vicente · silverTonnes: 300000Grade: 170Grade Unit: g/tContained Metal: 1.7Contained Unit: mozView all details
Link to this fact

Identity

Project
San Vicente
Commodity
silver
Region
bolivia
Reported Region
Bolivia
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:9ff102cb9ea3b030b610
Ownership percent
95 %

Resource Data

Category
indicated
Tonnes
300000
Grade
170
Grade Unit
g/t
Contained Metal
1.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: San Vicente's indicated silver resources are high-grade, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • High silver grade

Evidence · table

“170”

Context: 0.3

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredEscobal · silverTonnes: 2300000Grade: 251Grade Unit: g/tContained Metal: 18.6Contained Unit: mozView all details
Link to this fact

Identity

Project
Escobal
Commodity
silver
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:05a406d121f35aea0914

Resource Data

Category
measured
Tonnes
2300000
Grade
251
Grade Unit
g/t
Contained Metal
18.6
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's measured silver resources are exceptionally high-grade and substantial, representing a significant asset for the company.

Positive factors

  • High confidence category (Measured Resource)
  • Exceptional silver grade
  • Significant contained metal

Evidence · table

“251”

Context: 2.3

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredEscobal · goldTonnes: 2300000Grade: 0.23Grade Unit: g/tContained Metal: 17Contained Unit: kozView all details
Link to this fact

Identity

Project
Escobal
Commodity
gold
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:05a406d121f35aea0914

Resource Data

Category
measured
Tonnes
2300000
Grade
0.23
Grade Unit
g/t
Contained Metal
17
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's measured gold resources add to the project's overall value.

Positive factors

  • High confidence category (Measured Resource)
  • Contributes to overall resource base

Evidence · table

“0.23”

Context: 2.3

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedEscobal · silverTonnes: 14200000Grade: 201Grade Unit: g/tContained Metal: 91.6Contained Unit: mozView all details
Link to this fact

Identity

Project
Escobal
Commodity
silver
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:413bc8894bf43a7dbeeb

Resource Data

Category
indicated
Tonnes
14200000
Grade
201
Grade Unit
g/t
Contained Metal
91.6
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's indicated silver resources are exceptionally high-grade and substantial, representing a significant asset for the company.

Positive factors

  • High confidence category (Indicated Resource)
  • Exceptional silver grade
  • Significant contained metal

Evidence · table

“201”

Context: 14.2

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedEscobal · goldTonnes: 14200000Grade: 0.2Grade Unit: g/tContained Metal: 93Contained Unit: kozView all details
Link to this fact

Identity

Project
Escobal
Commodity
gold
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:413bc8894bf43a7dbeeb

Resource Data

Category
indicated
Tonnes
14200000
Grade
0.2
Grade Unit
g/t
Contained Metal
93
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's indicated gold resources add to the project's overall value.

Positive factors

  • High confidence category (Indicated Resource)
  • Contributes to overall resource base

Evidence · table

“0.20”

Context: 14.2

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedLa Colorada Skarn · silverTonnes: 265400000Grade: 36Grade Unit: g/tContained Metal: 308.7Contained Unit: mozView all details
Link to this fact

Identity

Project
La Colorada Skarn
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:71fb2d946c38147f3437

Resource Data

Category
indicated
Tonnes
265400000
Grade
36
Grade Unit
g/t
Contained Metal
308.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada Skarn's indicated silver resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“36”

Context: 265.4

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredNavidad · silverTonnes: 15400000Grade: 137Grade Unit: g/tContained Metal: 67.8Contained Unit: mozView all details
Link to this fact

Identity

Project
Navidad
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:82d25caaae013b6ad3ba

Resource Data

Category
measured
Tonnes
15400000
Grade
137
Grade Unit
g/t
Contained Metal
67.8
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Navidad's measured silver resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“137”

Context: 15.4

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedNavidad · silverTonnes: 139800000Grade: 126Grade Unit: g/tContained Metal: 564.5Contained Unit: mozView all details
Link to this fact

Identity

Project
Navidad
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:aa3e144822bc781317d4

Resource Data

Category
indicated
Tonnes
139800000
Grade
126
Grade Unit
g/t
Contained Metal
564.5
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Navidad's indicated silver resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“126”

Context: 139.8

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredManantial Espejo · silverTonnes: 300000Grade: 164Grade Unit: g/tContained Metal: 1.7Contained Unit: mozView all details
Link to this fact

Identity

Project
Manantial Espejo
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:cc61b36ee7e8987008b9

Resource Data

Category
measured
Tonnes
300000
Grade
164
Grade Unit
g/t
Contained Metal
1.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Manantial Espejo's measured silver resources are high-grade, indicating strong geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • High silver grade

Evidence · table

“164”

Context: 0.3

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredManantial Espejo · goldTonnes: 300000Grade: 2.4Grade Unit: g/tContained Metal: 25Contained Unit: kozView all details
Link to this fact

Identity

Project
Manantial Espejo
Commodity
gold
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:cc61b36ee7e8987008b9

Resource Data

Category
measured
Tonnes
300000
Grade
2.4
Grade Unit
g/t
Contained Metal
25
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Manantial Espejo's measured gold resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“2.40”

Context: 0.3

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedManantial Espejo · silverTonnes: 1000000Grade: 149Grade Unit: g/tContained Metal: 4.9Contained Unit: mozView all details
Link to this fact

Identity

Project
Manantial Espejo
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:dbec6b378891d1fcb642

Resource Data

Category
indicated
Tonnes
1000000
Grade
149
Grade Unit
g/t
Contained Metal
4.9
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Manantial Espejo's indicated silver resources are high-grade, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • High silver grade

Evidence · table

“149”

Context: 1.0

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedManantial Espejo · goldTonnes: 1000000Grade: 2.79Grade Unit: g/tContained Metal: 92Contained Unit: kozView all details
Link to this fact

Identity

Project
Manantial Espejo
Commodity
gold
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:dbec6b378891d1fcb642

Resource Data

Category
indicated
Tonnes
1000000
Grade
2.79
Grade Unit
g/t
Contained Metal
92
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Manantial Espejo's indicated gold resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“2.79”

Context: 1.0

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredJacobina · goldTonnes: 41200000Grade: 1.65Grade Unit: g/tContained Metal: 2189Contained Unit: kozView all details
Link to this fact

Identity

Project
Jacobina
Commodity
gold
Region
brazil
Reported Region
Brazil
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:3b43025d7a4465e45ba9

Resource Data

Category
measured
Tonnes
41200000
Grade
1.65
Grade Unit
g/t
Contained Metal
2189
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Jacobina's measured gold resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“1.65”

Context: 41.2

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedJacobina · goldTonnes: 54100000Grade: 1.58Grade Unit: g/tContained Metal: 2745Contained Unit: kozView all details
Link to this fact

Identity

Project
Jacobina
Commodity
gold
Region
brazil
Reported Region
Brazil
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:0c57244d00d4b2e357d3

Resource Data

Category
indicated
Tonnes
54100000
Grade
1.58
Grade Unit
g/t
Contained Metal
2745
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Jacobina's indicated gold resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“1.58”

Context: 54.1

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredTimmins · goldTonnes: 2200000Grade: 2.29Grade Unit: g/tContained Metal: 161Contained Unit: kozView all details
Link to this fact

Identity

Project
Timmins
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d788c187c7228adce212

Resource Data

Category
measured
Tonnes
2200000
Grade
2.29
Grade Unit
g/t
Contained Metal
161
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Timmins' measured gold resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“2.29”

Context: 2.2

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedTimmins · goldTonnes: 3400000Grade: 2.32Grade Unit: g/tContained Metal: 251Contained Unit: kozView all details
Link to this fact

Identity

Project
Timmins
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:507a7b55ee5b0b588f82

Resource Data

Category
indicated
Tonnes
3400000
Grade
2.32
Grade Unit
g/t
Contained Metal
251
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Timmins' indicated gold resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“2.32”

Context: 3.4

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredEl Peñon · silverTonnes: 1000000Grade: 136Grade Unit: g/tContained Metal: 4.4Contained Unit: mozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:cc8bc9558703c6cca246

Resource Data

Category
measured
Tonnes
1000000
Grade
136
Grade Unit
g/t
Contained Metal
4.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's measured silver resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“136”

Context: 1.0

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredEl Peñon · goldTonnes: 1000000Grade: 3.97Grade Unit: g/tContained Metal: 127Contained Unit: kozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:cc8bc9558703c6cca246

Resource Data

Category
measured
Tonnes
1000000
Grade
3.97
Grade Unit
g/t
Contained Metal
127
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's measured gold resources are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Measured Resource)
  • Exceptional gold grade

Evidence · table

“3.97”

Context: 1.0

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedEl Peñon · silverTonnes: 3700000Grade: 94Grade Unit: g/tContained Metal: 11.2Contained Unit: mozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:89683d371a9b539ca73b

Resource Data

Category
indicated
Tonnes
3700000
Grade
94
Grade Unit
g/t
Contained Metal
11.2
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's indicated silver resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“94”

Context: 3.7

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedEl Peñon · goldTonnes: 3700000Grade: 2.91Grade Unit: g/tContained Metal: 348Contained Unit: kozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:89683d371a9b539ca73b

Resource Data

Category
indicated
Tonnes
3700000
Grade
2.91
Grade Unit
g/t
Contained Metal
348
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's indicated gold resources are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Indicated Resource)
  • Exceptional gold grade

Evidence · table

“2.91”

Context: 3.7

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredMinera Florida · silverTonnes: 600000Grade: 13Grade Unit: g/tContained Metal: 0.3Contained Unit: mozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:8a00c1e0e80b113ede95

Resource Data

Category
measured
Tonnes
600000
Grade
13
Grade Unit
g/t
Contained Metal
0.3
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's measured silver resources contribute to the overall resource base.

Positive factors

  • High confidence category (Measured Resource)

Evidence · table

“13”

Context: 0.6

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredMinera Florida · goldTonnes: 600000Grade: 2.61Grade Unit: g/tContained Metal: 52Contained Unit: kozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:8a00c1e0e80b113ede95

Resource Data

Category
measured
Tonnes
600000
Grade
2.61
Grade Unit
g/t
Contained Metal
52
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's measured gold resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“2.61”

Context: 0.6

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedMinera Florida · silverTonnes: 3100000Grade: 14Grade Unit: g/tContained Metal: 1.4Contained Unit: mozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:74a82c49d96c13dbf0d7

Resource Data

Category
indicated
Tonnes
3100000
Grade
14
Grade Unit
g/t
Contained Metal
1.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's indicated silver resources contribute to the overall resource base.

Positive factors

  • High confidence category (Indicated Resource)

Evidence · table

“14”

Context: 3.1

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedMinera Florida · goldTonnes: 3100000Grade: 2.54Grade Unit: g/tContained Metal: 254Contained Unit: kozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:74a82c49d96c13dbf0d7

Resource Data

Category
indicated
Tonnes
3100000
Grade
2.54
Grade Unit
g/t
Contained Metal
254
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's indicated gold resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“2.54”

Context: 3.1

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredShahuindo · silverTonnes: 9800000Grade: 6Grade Unit: g/tContained Metal: 1.9Contained Unit: mozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d66e263deb7f9f0ab95f

Resource Data

Category
measured
Tonnes
9800000
Grade
6
Grade Unit
g/t
Contained Metal
1.9
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's measured silver resources contribute to the overall resource base.

Positive factors

  • High confidence category (Measured Resource)

Evidence · table

“6”

Context: 9.8

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredShahuindo · goldTonnes: 9800000Grade: 0.35Grade Unit: g/tContained Metal: 111Contained Unit: kozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
gold
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d66e263deb7f9f0ab95f

Resource Data

Category
measured
Tonnes
9800000
Grade
0.35
Grade Unit
g/t
Contained Metal
111
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's measured gold resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“0.35”

Context: 9.8

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedShahuindo · silverTonnes: 6300000Grade: 6Grade Unit: g/tContained Metal: 1.2Contained Unit: mozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c16a01fb962a9d7ab43a

Resource Data

Category
indicated
Tonnes
6300000
Grade
6
Grade Unit
g/t
Contained Metal
1.2
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's indicated silver resources contribute to the overall resource base.

Positive factors

  • High confidence category (Indicated Resource)

Evidence · table

“6”

Context: 6.3

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedShahuindo · goldTonnes: 6300000Grade: 0.37Grade Unit: g/tContained Metal: 74Contained Unit: kozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
gold
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c16a01fb962a9d7ab43a

Resource Data

Category
indicated
Tonnes
6300000
Grade
0.37
Grade Unit
g/t
Contained Metal
74
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's indicated gold resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“0.37”

Context: 6.3

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedVogel · goldTonnes: 700000Grade: 3.35Grade Unit: g/tContained Metal: 74Contained Unit: kozView all details
Link to this fact

Identity

Project
Vogel
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:189fd927242738f45e76

Resource Data

Category
indicated
Tonnes
700000
Grade
3.35
Grade Unit
g/t
Contained Metal
74
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Vogel's indicated gold resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“3.35”

Context: 0.7

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedGold River · goldTonnes: 700000Grade: 5.29Grade Unit: g/tContained Metal: 117Contained Unit: kozView all details
Link to this fact

Identity

Project
Gold River
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:3af33a2720b565a9d5b0

Resource Data

Category
indicated
Tonnes
700000
Grade
5.29
Grade Unit
g/t
Contained Metal
117
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Gold River's indicated gold resources are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Indicated Resource)
  • Exceptional gold grade

Evidence · table

“5.29”

Context: 0.7

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedMarhill · goldTonnes: 400000Grade: 4.52Grade Unit: g/tContained Metal: 57Contained Unit: kozView all details
Link to this fact

Identity

Project
Marhill
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:519194a1224181b36c61

Resource Data

Category
indicated
Tonnes
400000
Grade
4.52
Grade Unit
g/t
Contained Metal
57
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Marhill's indicated gold resources are exceptionally high-grade, indicating a valuable component of the project.

Positive factors

  • High confidence category (Indicated Resource)
  • Exceptional gold grade

Evidence · table

“4.52”

Context: 0.4

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedWhitney · goldTonnes: 1600000Grade: 2.83Grade Unit: g/tContained Metal: 142Contained Unit: kozView all details
Link to this fact

Identity

Project
Whitney
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:6b42779ec23c444ae19e
Ownership percent
84.26 %

Resource Data

Category
indicated
Tonnes
1600000
Grade
2.83
Grade Unit
g/t
Contained Metal
142
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Whitney's indicated gold resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“2.83”

Context: 1.6

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredLa Bolsa · silverTonnes: 10800000Grade: 10Grade Unit: g/tContained Metal: 3.5Contained Unit: mozView all details
Link to this fact

Identity

Project
La Bolsa
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:a242e6225a1a07038bdc

Resource Data

Category
measured
Tonnes
10800000
Grade
10
Grade Unit
g/t
Contained Metal
3.5
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Bolsa's measured silver resources contribute to the overall resource base.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“10”

Context: 10.8

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

measuredLa Bolsa · goldTonnes: 10800000Grade: 0.7Grade Unit: g/tContained Metal: 243Contained Unit: kozView all details
Link to this fact

Identity

Project
La Bolsa
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:a242e6225a1a07038bdc

Resource Data

Category
measured
Tonnes
10800000
Grade
0.7
Grade Unit
g/t
Contained Metal
243
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Bolsa's measured gold resources are substantial, indicating high geological confidence.

Positive factors

  • High confidence category (Measured Resource)
  • Significant contained metal

Evidence · table

“0.70”

Context: 10.8

Tags used in scoring

Measured Resourcepositive

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

Why it applies: category is "measured"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedLa Bolsa · silverTonnes: 10600000Grade: 8Grade Unit: g/tContained Metal: 2.7Contained Unit: mozView all details
Link to this fact

Identity

Project
La Bolsa
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:02f31bcbefc6710b9459

Resource Data

Category
indicated
Tonnes
10600000
Grade
8
Grade Unit
g/t
Contained Metal
2.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Bolsa's indicated silver resources contribute to the overall resource base.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“8”

Context: 10.6

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedLa Bolsa · goldTonnes: 10600000Grade: 0.54Grade Unit: g/tContained Metal: 184Contained Unit: kozView all details
Link to this fact

Identity

Project
La Bolsa
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:02f31bcbefc6710b9459

Resource Data

Category
indicated
Tonnes
10600000
Grade
0.54
Grade Unit
g/t
Contained Metal
184
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Bolsa's indicated gold resources are substantial, indicating strong geological confidence.

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“0.54”

Context: 10.6

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredLa Colorada · silverTonnes: 24000000Grade: 187Grade Unit: g/tContained Metal: 144.3Contained Unit: mozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:164e4c53293d7ac779b4

Resource Data

Category
inferred
Tonnes
24000000
Grade
187
Grade Unit
g/t
Contained Metal
144.3
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“187”

Context: 24.0

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredLa Colorada · goldTonnes: 24000000Grade: 0.2Grade Unit: g/tContained Metal: 152Contained Unit: kozView all details
Link to this fact

Identity

Project
La Colorada
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:164e4c53293d7ac779b4

Resource Data

Category
inferred
Tonnes
24000000
Grade
0.2
Grade Unit
g/t
Contained Metal
152
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada's inferred gold resources add to the project's overall resource profile, but with lower confidence.

Positive factors

  • Contributes to overall resource base

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“0.20”

Context: 24.0

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredJuanicipio · silverTonnes: 4800000Grade: 167Grade Unit: g/tContained Metal: 25.7Contained Unit: mozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c63c8cb09243f09b869c
Ownership percent
44 %

Resource Data

Category
inferred
Tonnes
4800000
Grade
167
Grade Unit
g/t
Contained Metal
25.7
Contained Unit
moz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's inferred silver resources represent significant potential, supported by robust reporting standards, though with lower geological confidence.

Positive factors

  • Significant contained metal
  • JORC and NI 43-101 compliant

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“167”

Context: 4.8

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredJuanicipio · goldTonnes: 4800000Grade: 0.6Grade Unit: g/tContained Metal: 92Contained Unit: kozView all details
Link to this fact

Identity

Project
Juanicipio
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2025-04-30T00:00:00.000Z
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c63c8cb09243f09b869c
Ownership percent
44 %

Resource Data

Category
inferred
Tonnes
4800000
Grade
0.6
Grade Unit
g/t
Contained Metal
92
Contained Unit
koz

Prior Estimate

Resource Date
2025-04-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Juanicipio's inferred gold resources are a valuable addition to Pan American's portfolio, supported by robust reporting standards, though with lower confidence.

Positive factors

  • Significant contained metal
  • JORC and NI 43-101 compliant

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“0.60”

Context: 4.8

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredHuaron · silverTonnes: 9200000Grade: 116Grade Unit: g/tContained Metal: 34.4Contained Unit: mozView all details
Link to this fact

Identity

Project
Huaron
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:89d4e08d49b28e96c397

Resource Data

Category
inferred
Tonnes
9200000
Grade
116
Grade Unit
g/t
Contained Metal
34.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Huaron's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“116”

Context: 9.2

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredCerro Moro · silverTonnes: 800000Grade: 139Grade Unit: g/tContained Metal: 3.5Contained Unit: mozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:e0998554590f9460d0f0

Resource Data

Category
inferred
Tonnes
800000
Grade
139
Grade Unit
g/t
Contained Metal
3.5
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“139”

Context: 0.8

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredCerro Moro · goldTonnes: 800000Grade: 4.95Grade Unit: g/tContained Metal: 124Contained Unit: kozView all details
Link to this fact

Identity

Project
Cerro Moro
Commodity
gold
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:e0998554590f9460d0f0

Resource Data

Category
inferred
Tonnes
800000
Grade
4.95
Grade Unit
g/t
Contained Metal
124
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Cerro Moro's inferred gold resources are exceptionally high-grade, indicating valuable potential, though with lower confidence.

Positive factors

  • Exceptional gold grade
  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“4.95”

Context: 0.8

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredSan Vicente · silverTonnes: 2100000Grade: 172Grade Unit: g/tContained Metal: 11.7Contained Unit: mozView all details
Link to this fact

Identity

Project
San Vicente
Commodity
silver
Region
bolivia
Reported Region
Bolivia
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:92053abf7ee5956ea3fc
Ownership percent
95 %

Resource Data

Category
inferred
Tonnes
2100000
Grade
172
Grade Unit
g/t
Contained Metal
11.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: San Vicente's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“172”

Context: 2.1

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredEscobal · silverTonnes: 1900000Grade: 180Grade Unit: g/tContained Metal: 10.7Contained Unit: mozView all details
Link to this fact

Identity

Project
Escobal
Commodity
silver
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:6e066a2a18f4d1c70e4e

Resource Data

Category
inferred
Tonnes
1900000
Grade
180
Grade Unit
g/t
Contained Metal
10.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“180”

Context: 1.9

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredEscobal · goldTonnes: 1900000Grade: 0.9Grade Unit: g/tContained Metal: 54Contained Unit: kozView all details
Link to this fact

Identity

Project
Escobal
Commodity
gold
Region
guatemala
Reported Region
Guatemala
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:6e066a2a18f4d1c70e4e

Resource Data

Category
inferred
Tonnes
1900000
Grade
0.9
Grade Unit
g/t
Contained Metal
54
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Escobal's inferred gold resources add to the project's overall resource profile, but with lower confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“0.90”

Context: 1.9

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredLa Colorada Skarn · silverTonnes: 61700000Grade: 30Grade Unit: g/tContained Metal: 58.6Contained Unit: mozView all details
Link to this fact

Identity

Project
La Colorada Skarn
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:0ef98b0cc5b28cebd151

Resource Data

Category
inferred
Tonnes
61700000
Grade
30
Grade Unit
g/t
Contained Metal
58.6
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Colorada Skarn's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“30”

Context: 61.7

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredNavidad · silverTonnes: 45900000Grade: 81Grade Unit: g/tContained Metal: 119.4Contained Unit: mozView all details
Link to this fact

Identity

Project
Navidad
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:56e596dd861407aa6ff1

Resource Data

Category
inferred
Tonnes
45900000
Grade
81
Grade Unit
g/t
Contained Metal
119.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Navidad's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“81”

Context: 45.9

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredManantial Espejo · silverTonnes: 500000Grade: 106Grade Unit: g/tContained Metal: 1.8Contained Unit: mozView all details
Link to this fact

Identity

Project
Manantial Espejo
Commodity
silver
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:512df1f32dc66b5bcab2

Resource Data

Category
inferred
Tonnes
500000
Grade
106
Grade Unit
g/t
Contained Metal
1.8
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Manantial Espejo's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“106”

Context: 0.5

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredManantial Espejo · goldTonnes: 500000Grade: 1.49Grade Unit: g/tContained Metal: 25Contained Unit: kozView all details
Link to this fact

Identity

Project
Manantial Espejo
Commodity
gold
Region
argentina
Reported Region
Argentina
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:512df1f32dc66b5bcab2

Resource Data

Category
inferred
Tonnes
500000
Grade
1.49
Grade Unit
g/t
Contained Metal
25
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Manantial Espejo's inferred gold resources add to the project's overall resource profile, but with lower confidence.

Positive factors

  • Contributes to overall resource base

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“1.49”

Context: 0.5

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredJacobina · goldTonnes: 56200000Grade: 1.65Grade Unit: g/tContained Metal: 2988Contained Unit: kozView all details
Link to this fact

Identity

Project
Jacobina
Commodity
gold
Region
brazil
Reported Region
Brazil
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:1d7143cf413be448295b

Resource Data

Category
inferred
Tonnes
56200000
Grade
1.65
Grade Unit
g/t
Contained Metal
2988
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Jacobina's inferred gold resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“1.65”

Context: 56.2

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredTimmins · goldTonnes: 7000000Grade: 2.66Grade Unit: g/tContained Metal: 596Contained Unit: kozView all details
Link to this fact

Identity

Project
Timmins
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:cabce16dc9a15188075d

Resource Data

Category
inferred
Tonnes
7000000
Grade
2.66
Grade Unit
g/t
Contained Metal
596
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Timmins' inferred gold resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“2.66”

Context: 7.0

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredEl Peñon · silverTonnes: 17500000Grade: 36Grade Unit: g/tContained Metal: 20.3Contained Unit: mozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:0969ec6f5b90e9aed118

Resource Data

Category
inferred
Tonnes
17500000
Grade
36
Grade Unit
g/t
Contained Metal
20.3
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's inferred silver resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“36”

Context: 17.5

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredEl Peñon · goldTonnes: 17500000Grade: 1.05Grade Unit: g/tContained Metal: 592Contained Unit: kozView all details
Link to this fact

Identity

Project
El Peñon
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:0969ec6f5b90e9aed118

Resource Data

Category
inferred
Tonnes
17500000
Grade
1.05
Grade Unit
g/t
Contained Metal
592
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: El Peñon's inferred gold resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“1.05”

Context: 17.5

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredMinera Florida · silverTonnes: 6400000Grade: 13Grade Unit: g/tContained Metal: 2.6Contained Unit: mozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
silver
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4608e174e3604deb26c1

Resource Data

Category
inferred
Tonnes
6400000
Grade
13
Grade Unit
g/t
Contained Metal
2.6
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's inferred silver resources add to the project's overall resource profile, but with lower confidence.

Positive factors

  • Contributes to overall resource base

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“13”

Context: 6.4

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredMinera Florida · goldTonnes: 6400000Grade: 2.73Grade Unit: g/tContained Metal: 560Contained Unit: kozView all details
Link to this fact

Identity

Project
Minera Florida
Commodity
gold
Region
chile
Reported Region
Chile
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:4608e174e3604deb26c1

Resource Data

Category
inferred
Tonnes
6400000
Grade
2.73
Grade Unit
g/t
Contained Metal
560
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Minera Florida's inferred gold resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“2.73”

Context: 6.4

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredShahuindo · silverTonnes: 10800000Grade: 2Grade Unit: g/tContained Metal: 0.7Contained Unit: mozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
silver
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:9fe492fa2c2d40f46f41

Resource Data

Category
inferred
Tonnes
10800000
Grade
2
Grade Unit
g/t
Contained Metal
0.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's inferred silver resources add to the project's overall resource profile, but with lower confidence.

Positive factors

  • Contributes to overall resource base

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“2”

Context: 10.8

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredShahuindo · goldTonnes: 10800000Grade: 0.12Grade Unit: g/tContained Metal: 41Contained Unit: kozView all details
Link to this fact

Identity

Project
Shahuindo
Commodity
gold
Region
perú
Reported Region
Perú
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:9fe492fa2c2d40f46f41

Resource Data

Category
inferred
Tonnes
10800000
Grade
0.12
Grade Unit
g/t
Contained Metal
41
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Shahuindo's inferred gold resources add to the project's overall resource profile, but with lower confidence.

Positive factors

  • Contributes to overall resource base

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“0.12”

Context: 10.8

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredVogel · goldTonnes: 2800000Grade: 3.73Grade Unit: g/tContained Metal: 338Contained Unit: kozView all details
Link to this fact

Identity

Project
Vogel
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:792a04f622ace79fdc80

Resource Data

Category
inferred
Tonnes
2800000
Grade
3.73
Grade Unit
g/t
Contained Metal
338
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Vogel's inferred gold resources are exceptionally high-grade, indicating valuable potential, though with lower confidence.

Positive factors

  • Exceptional gold grade
  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“3.73”

Context: 2.8

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredGold River · goldTonnes: 5300000Grade: 6.06Grade Unit: g/tContained Metal: 1028Contained Unit: kozView all details
Link to this fact

Identity

Project
Gold River
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:b4dbb8b18f35d0c9c62c

Resource Data

Category
inferred
Tonnes
5300000
Grade
6.06
Grade Unit
g/t
Contained Metal
1028
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Gold River's inferred gold resources are exceptionally high-grade, indicating valuable potential, though with lower confidence.

Positive factors

  • Exceptional gold grade
  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“6.06”

Context: 5.3

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredWhitney · goldTonnes: 5600000Grade: 2.24Grade Unit: g/tContained Metal: 406Contained Unit: kozView all details
Link to this fact

Identity

Project
Whitney
Commodity
gold
Region
canada
Reported Region
Canada
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:411325d373449ff0ba5d
Ownership percent
84.26 %

Resource Data

Category
inferred
Tonnes
5600000
Grade
2.24
Grade Unit
g/t
Contained Metal
406
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Whitney's inferred gold resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“2.24”

Context: 5.6

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredLa Bolsa · silverTonnes: 13700000Grade: 8Grade Unit: g/tContained Metal: 3.3Contained Unit: mozView all details
Link to this fact

Identity

Project
La Bolsa
Commodity
silver
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d3519a7984bab053c975

Resource Data

Category
inferred
Tonnes
13700000
Grade
8
Grade Unit
g/t
Contained Metal
3.3
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Bolsa's inferred silver resources add to the project's overall resource profile, but with lower confidence.

Positive factors

  • Contributes to overall resource base

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“8”

Context: 13.7

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredLa Bolsa · goldTonnes: 13700000Grade: 0.51Grade Unit: g/tContained Metal: 225Contained Unit: kozView all details
Link to this fact

Identity

Project
La Bolsa
Commodity
gold
Region
mexico
Reported Region
Mexico
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d3519a7984bab053c975

Resource Data

Category
inferred
Tonnes
13700000
Grade
0.51
Grade Unit
g/t
Contained Metal
225
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: La Bolsa's inferred gold resources represent significant potential, though with lower geological confidence.

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“0.51”

Context: 13.7

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablesilverTonnes: 57200000Grade: 261Grade Unit: g/tContained Metal: 479.4Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:222aae97bf58f364ed73
Deposit or zone
Silver Segment

Resource Data

Category
probable
Tonnes
57200000
Grade
261
Grade Unit
g/t
Contained Metal
479.4
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable silver reserves for the Silver Segment are substantial, indicating strong confidence in the economic viability and geological understanding of these assets. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“261”

Context: 57.2

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablegoldTonnes: 57200000Grade: 0.51Grade Unit: g/tContained Metal: 937Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:222aae97bf58f364ed73
Deposit or zone
Silver Segment

Resource Data

Category
probable
Tonnes
57200000
Grade
0.51
Grade Unit
g/t
Contained Metal
937
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable silver reserves for the Silver Segment are substantial, indicating strong confidence in the economic viability and geological understanding of these assets. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“0.51”

Context: 57.2

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablesilverTonnes: 147200000Grade: 7Grade Unit: g/tContained Metal: 31.7Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:f8edda8b7e4d55712b0d
Deposit or zone
Gold Segment

Resource Data

Category
probable
Tonnes
147200000
Grade
7
Grade Unit
g/t
Contained Metal
31.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable silver reserves for the Silver Segment are substantial, indicating strong confidence in the economic viability and geological understanding of these assets. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“7”

Context: 147.2

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablegoldTonnes: 147200000Grade: 1.14Grade Unit: g/tContained Metal: 5390Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:f8edda8b7e4d55712b0d
Deposit or zone
Gold Segment

Resource Data

Category
probable
Tonnes
147200000
Grade
1.14
Grade Unit
g/t
Contained Metal
5390
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable silver reserves for the Silver Segment are substantial, indicating strong confidence in the economic viability and geological understanding of these assets. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“1.14”

Context: 147.2

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablesilverTonnes: 204400000Grade: 78Grade Unit: g/tContained Metal: 511.1Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:25b8481c4eab5a0fe562
Deposit or zone
Company Total

Resource Data

Category
probable
Tonnes
204400000
Grade
78
Grade Unit
g/t
Contained Metal
511.1
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable silver reserves for the Silver Segment are substantial, indicating strong confidence in the economic viability and geological understanding of these assets. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“78”

Context: 204.4

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

probablegoldTonnes: 204400000Grade: 0.96Grade Unit: g/tContained Metal: 6327Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
reserve
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:25b8481c4eab5a0fe562
Deposit or zone
Company Total

Resource Data

Category
probable
Tonnes
204400000
Grade
0.96
Grade Unit
g/t
Contained Metal
6327
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Probable silver reserves for the Silver Segment are substantial, indicating strong confidence in the economic viability and geological understanding of these assets. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Probable Reserve)
  • Significant contained metal

Evidence · table

“0.96”

Context: 204.4

Tags used in scoring

Probable Reservepositive

Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedsilverTonnes: 447100000Grade: 77Grade Unit: g/tContained Metal: 1100.2Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c5cbc7e94a350598d2be
Deposit or zone
Silver Segment

Resource Data

Category
indicated
Tonnes
447100000
Grade
77
Grade Unit
g/t
Contained Metal
1100.2
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated silver resources for the Silver Segment are substantial, indicating strong geological confidence. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“77”

Context: 447.1

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedgoldTonnes: 447100000Grade: 0.03Grade Unit: g/tContained Metal: 367Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:c5cbc7e94a350598d2be
Deposit or zone
Silver Segment

Resource Data

Category
indicated
Tonnes
447100000
Grade
0.03
Grade Unit
g/t
Contained Metal
367
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated silver resources for the Silver Segment are substantial, indicating strong geological confidence. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“0.03”

Context: 447.1

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedsilverTonnes: 150200000Grade: 6Grade Unit: g/tContained Metal: 26.6Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:1ab1b3abedd5b989882d
Deposit or zone
Gold Segment

Resource Data

Category
indicated
Tonnes
150200000
Grade
6
Grade Unit
g/t
Contained Metal
26.6
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated silver resources for the Silver Segment are substantial, indicating strong geological confidence. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“6”

Context: 150.2

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedgoldTonnes: 150200000Grade: 1.48Grade Unit: g/tContained Metal: 7132Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:1ab1b3abedd5b989882d
Deposit or zone
Gold Segment

Resource Data

Category
indicated
Tonnes
150200000
Grade
1.48
Grade Unit
g/t
Contained Metal
7132
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated silver resources for the Silver Segment are substantial, indicating strong geological confidence. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“1.48”

Context: 150.2

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedsilverTonnes: 597300000Grade: 59Grade Unit: g/tContained Metal: 1126.7Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:825f31a8112999b76bc0
Deposit or zone
Company Total

Resource Data

Category
indicated
Tonnes
597300000
Grade
59
Grade Unit
g/t
Contained Metal
1126.7
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated silver resources for the Silver Segment are substantial, indicating strong geological confidence. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“59”

Context: 597.3

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

indicatedgoldTonnes: 597300000Grade: 0.39Grade Unit: g/tContained Metal: 7499Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:825f31a8112999b76bc0
Deposit or zone
Company Total

Resource Data

Category
indicated
Tonnes
597300000
Grade
0.39
Grade Unit
g/t
Contained Metal
7499
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Indicated silver resources for the Silver Segment are substantial, indicating strong geological confidence. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • High confidence category (Indicated Resource)
  • Significant contained metal

Evidence · table

“0.39”

Context: 597.3

Tags used in scoring

Indicated Resourcepositive

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

Why it applies: category is "indicated"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredsilverTonnes: 276200000Grade: 49Grade Unit: g/tContained Metal: 437Contained Unit: mozView all details
Link to this fact

Identity

Commodity
silver
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d2298f673dc384191847
Deposit or zone
Company Total

Resource Data

Category
inferred
Tonnes
276200000
Grade
49
Grade Unit
g/t
Contained Metal
437
Contained Unit
moz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Inferred silver resources for the Silver Segment represent significant potential, though with lower geological confidence. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“49”

Context: 276.2

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

inferredgoldTonnes: 276200000Grade: 0.81Grade Unit: g/tContained Metal: 7220Contained Unit: kozView all details
Link to this fact

Identity

Commodity
gold
Ticker
PAAS.TO

Resource scope

Estimate type
resource
Effective date
2026-06-30T00:00:00.000Z
Reporting standards
ni_43_101, jorc
QP Signed
Yes
Qualified person names
Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright
Resource group id
resource:d2298f673dc384191847
Deposit or zone
Company Total

Resource Data

Category
inferred
Tonnes
276200000
Grade
0.81
Grade Unit
g/t
Contained Metal
7220
Contained Unit
koz

Prior Estimate

Resource Date
2026-06-30

Review

Needs Review
No
Historical
No

Dates

Event date
2026-09-16T00:00:00.000Z

Reasoning: Inferred silver resources for the Silver Segment represent significant potential, though with lower geological confidence. (Expanded from multi-commodity resource table for completeness.)

Positive factors

  • Significant contained metal

Negative factors

  • Lower confidence category (Inferred Resource)

Evidence · table

“0.81”

Context: 276.2

Tags used in scoring

Inferred Resourcenegative

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

Why it applies: category is "inferred"

Cut-off Undisclosednegative

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

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

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

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

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

Why it applies: reporting_standards includes ni_43_101

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.