# Pan American Silver Reports Mineral Reserves and Mineral Resources as at June 30, 2026 Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b Original source: https://orestocks.com/company/PAAS.TO/press-releases/8338481280803322 Publisher: orestocks Original announcement: 2026-09-16T21:23:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - 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 Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas 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 factor: Significant increase in contained silver and gold reserves due to acquisition and exploration success - Positive factor: Over 100% silver reserve replacement net of depletion - Positive factor: Inclusion of Juanicipio \(44% interest\) adds substantial silver reserves and resources - Positive factor: Exploration success at multiple key operations \(La Colorada, Jacobina, Timmins, Huaron, San Vicente, Cerro Moro, Minera Florida\) - Positive factor: High confidence in reporting standards \(NI 43-101, CIM Standards, JORC Code for Juanicipio\) with QP sign-off - Negative factor: 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 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 148. Some facts used in scoring do not have a stored record. ## Resource Estimates (148) ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-0) silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 288 Context: 13.2 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-1) gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 0.36 Context: 13.2 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-2) silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 252 Context: 44.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-3) gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 0.55 Context: 44.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-4) silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Contributes to overall reserve base Evidence · table > 9 Context: 56.4 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-5) gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 1.04 Context: 56.4 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-6) silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Contributes to overall reserve base Evidence · table > 6 Context: 90.7 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-7) gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 1.20 Context: 90.7 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-8) silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 157 Context: 20.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-9) gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Contributes to overall resource base Evidence · table > 0.11 Context: 20.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-10) silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 73 Context: 426.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-11) gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Contributes to overall resource base Evidence · table > 0.02 Context: 426.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-12) silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Contributes to overall resource base Evidence · table > 5 Context: 65.7 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-13) gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 1.37 Context: 65.7 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-14) silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Contributes to overall resource base Evidence · table > 6 Context: 84.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-15) gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 1.56 Context: 84.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-16) silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 85 Context: 150.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-17) gold #### 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 factor: Contributes to overall resource base - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 0.09 Context: 150.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-18) silver #### 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 factor: Contributes to overall resource base - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 7 Context: 125.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-19) gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 1.68 Context: 125.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-20) La Colorada · silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: High silver grade - Positive factor: Significant contained metal Evidence · table > 325 Context: 3.6 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-21) La Colorada · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Contributes to overall reserve base Evidence · table > 0.23 Context: 3.6 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-22) La Colorada · silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: High silver grade - Positive factor: Significant contained metal Evidence · table > 252 Context: 7.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-23) La Colorada · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Contributes to overall reserve base Evidence · table > 0.24 Context: 7.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-24) Juanicipio · silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Very high silver grade - Positive factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant Evidence · table > 410 Context: 1.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-25) Juanicipio · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant Evidence · table > 1.30 Context: 1.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-26) Juanicipio · silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: High silver grade - Positive factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant Evidence · table > 169 Context: 8.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-27) Juanicipio · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant Evidence · table > 1.41 Context: 8.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-28) Huaron · silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 138 Context: 4.5 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-29) Huaron · silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 129 Context: 5.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-30) Cerro Moro · silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: High silver grade Evidence · table > 199 Context: 0.3 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-31) Cerro Moro · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Exceptional gold grade Evidence · table > 5.27 Context: 0.3 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-32) Cerro Moro · silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: High silver grade Evidence · table > 181 Context: 0.8 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-33) Cerro Moro · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Exceptional gold grade Evidence · table > 4.31 Context: 0.8 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-34) San Vicente · silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: High silver grade - Positive factor: Significant contained metal Evidence · table > 243 Context: 1.3 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-35) San Vicente · silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: High silver grade Evidence · table > 249 Context: 0.4 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-36) Escobal · silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Exceptional silver grade - Positive factor: Significant contained metal Evidence · table > 486 Context: 2.5 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-37) Escobal · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Contributes to overall reserve base Evidence · table > 0.42 Context: 2.5 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-38) Escobal · silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Exceptional silver grade - Positive factor: Significant contained metal Evidence · table > 316 Context: 22.1 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-39) Escobal · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Contributes to overall reserve base Evidence · table > 0.34 Context: 22.1 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-40) Jacobina · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 1.71 Context: 14.1 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-41) Jacobina · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 1.74 Context: 41.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-42) Timmins · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 2.80 Context: 3.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-43) Timmins · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 2.76 Context: 4.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-44) El Peñon · silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: High silver grade Evidence · table > 169 Context: 1.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-45) El Peñon · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Exceptional gold grade Evidence · table > 4.28 Context: 1.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-46) El Peñon · silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: High silver grade Evidence · table > 106 Context: 2.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-47) El Peñon · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Exceptional gold grade Evidence · table > 3.24 Context: 2.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-48) Minera Florida · silver #### 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 factor: High confidence category \(Proven Reserve\) Evidence · table > 21 Context: 0.6 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-49) Minera Florida · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 2.94 Context: 0.6 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-50) Minera Florida · silver #### 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 factor: High confidence category \(Probable Reserve\) Evidence · table > 21 Context: 2.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-51) Minera Florida · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 3.00 Context: 2.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-52) Shahuindo · silver #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 8 Context: 37.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-53) Shahuindo · gold #### 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 factor: High confidence category \(Proven Reserve\) - Positive factor: Significant contained metal Evidence · table > 0.48 Context: 37.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-54) Shahuindo · silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 4 Context: 39.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-55) Shahuindo · gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 0.22 Context: 39.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-56) La Colorada · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: High silver grade Evidence · table > 276 Context: 0.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-57) La Colorada · gold #### 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 factor: High confidence category \(Measured Resource\) Evidence · table > 0.13 Context: 0.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-58) La Colorada · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: High silver grade Evidence · table > 209 Context: 0.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-59) La Colorada · gold #### 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 factor: High confidence category \(Indicated Resource\) Evidence · table > 0.16 Context: 0.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-60) Juanicipio · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Exceptional silver grade - Positive factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant Evidence · table > 566 Context: 0.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-61) Juanicipio · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant Evidence · table > 1.48 Context: 0.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-62) Juanicipio · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: High silver grade - Positive factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant Evidence · table > 190 Context: 0.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-63) Juanicipio · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant Evidence · table > 1.36 Context: 0.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-64) Huaron · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 92 Context: 1.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-65) Huaron · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 90 Context: 3.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-66) Cerro Moro · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: High silver grade Evidence · table > 174 Context: 0.1 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-67) Cerro Moro · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Exceptional gold grade Evidence · table > 4.77 Context: 0.1 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-68) Cerro Moro · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: High silver grade Evidence · table > 212 Context: 0.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-69) Cerro Moro · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Exceptional gold grade Evidence · table > 3.81 Context: 0.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-70) San Vicente · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: High silver grade Evidence · table > 161 Context: 0.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-71) San Vicente · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: High silver grade Evidence · table > 170 Context: 0.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-72) Escobal · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Exceptional silver grade - Positive factor: Significant contained metal Evidence · table > 251 Context: 2.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-73) Escobal · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Contributes to overall resource base Evidence · table > 0.23 Context: 2.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-74) Escobal · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Exceptional silver grade - Positive factor: Significant contained metal Evidence · table > 201 Context: 14.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-75) Escobal · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Contributes to overall resource base Evidence · table > 0.20 Context: 14.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-76) La Colorada Skarn · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 36 Context: 265.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-77) Navidad · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 137 Context: 15.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-78) Navidad · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 126 Context: 139.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-79) Manantial Espejo · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: High silver grade Evidence · table > 164 Context: 0.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-80) Manantial Espejo · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 2.40 Context: 0.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-81) Manantial Espejo · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: High silver grade Evidence · table > 149 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-82) Manantial Espejo · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 2.79 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-83) Jacobina · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 1.65 Context: 41.2 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-84) Jacobina · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 1.58 Context: 54.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-85) Timmins · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 2.29 Context: 2.2 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-86) Timmins · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 2.32 Context: 3.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-87) El Peñon · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 136 Context: 1.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-88) El Peñon · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Exceptional gold grade Evidence · table > 3.97 Context: 1.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-89) El Peñon · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 94 Context: 3.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-90) El Peñon · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Exceptional gold grade Evidence · table > 2.91 Context: 3.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-91) Minera Florida · silver #### 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 factor: High confidence category \(Measured Resource\) Evidence · table > 13 Context: 0.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-92) Minera Florida · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 2.61 Context: 0.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-93) Minera Florida · silver #### 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 factor: High confidence category \(Indicated Resource\) Evidence · table > 14 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-94) Minera Florida · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 2.54 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-95) Shahuindo · silver #### 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 factor: High confidence category \(Measured Resource\) Evidence · table > 6 Context: 9.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-96) Shahuindo · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 0.35 Context: 9.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-97) Shahuindo · silver #### 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 factor: High confidence category \(Indicated Resource\) Evidence · table > 6 Context: 6.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-98) Shahuindo · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 0.37 Context: 6.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-99) Vogel · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 3.35 Context: 0.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-100) Gold River · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Exceptional gold grade Evidence · table > 5.29 Context: 0.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-101) Marhill · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Exceptional gold grade Evidence · table > 4.52 Context: 0.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-102) Whitney · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 2.83 Context: 1.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-103) La Bolsa · silver #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 10 Context: 10.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-104) La Bolsa · gold #### 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 factor: High confidence category \(Measured Resource\) - Positive factor: Significant contained metal Evidence · table > 0.70 Context: 10.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-105) La Bolsa · silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 8 Context: 10.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-106) La Bolsa · gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 0.54 Context: 10.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-107) La Colorada · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 187 Context: 24.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-108) La Colorada · gold #### 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 factor: Contributes to overall resource base - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 0.20 Context: 24.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-109) Juanicipio · silver #### 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 factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 167 Context: 4.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-110) Juanicipio · gold #### 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 factor: Significant contained metal - Positive factor: JORC and NI 43-101 compliant - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 0.60 Context: 4.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-111) Huaron · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 116 Context: 9.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-112) Cerro Moro · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 139 Context: 0.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-113) Cerro Moro · gold #### 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 factor: Exceptional gold grade - Positive factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 4.95 Context: 0.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-114) San Vicente · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 172 Context: 2.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-115) Escobal · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 180 Context: 1.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-116) Escobal · gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 0.90 Context: 1.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-117) La Colorada Skarn · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 30 Context: 61.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-118) Navidad · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 81 Context: 45.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-119) Manantial Espejo · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 106 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-120) Manantial Espejo · gold #### 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 factor: Contributes to overall resource base - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 1.49 Context: 0.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-121) Jacobina · gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 1.65 Context: 56.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-122) Timmins · gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 2.66 Context: 7.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-123) El Peñon · silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 36 Context: 17.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-124) El Peñon · gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 1.05 Context: 17.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-125) Minera Florida · silver #### 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 factor: Contributes to overall resource base - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 13 Context: 6.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-126) Minera Florida · gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 2.73 Context: 6.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-127) Shahuindo · silver #### 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 factor: Contributes to overall resource base - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 2 Context: 10.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-128) Shahuindo · gold #### 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 factor: Contributes to overall resource base - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 0.12 Context: 10.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-129) Vogel · gold #### 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 factor: Exceptional gold grade - Positive factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 3.73 Context: 2.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-130) Gold River · gold #### 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 factor: Exceptional gold grade - Positive factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 6.06 Context: 5.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-131) Whitney · gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 2.24 Context: 5.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-132) La Bolsa · silver #### 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 factor: Contributes to overall resource base - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 8 Context: 13.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-133) La Bolsa · gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 0.51 Context: 13.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-134) silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 261 Context: 57.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-135) gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 0.51 Context: 57.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-136) silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 7 Context: 147.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-137) gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 1.14 Context: 147.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-138) silver #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 78 Context: 204.4 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-139) gold #### 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 factor: High confidence category \(Probable Reserve\) - Positive factor: Significant contained metal Evidence · table > 0.96 Context: 204.4 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-140) silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 77 Context: 447.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-141) gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 0.03 Context: 447.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-142) silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 6 Context: 150.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-143) gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 1.48 Context: 150.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-144) silver #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 59 Context: 597.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-145) gold #### 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 factor: High confidence category \(Indicated Resource\) - Positive factor: Significant contained metal Evidence · table > 0.39 Context: 597.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-146) silver #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 49 Context: 276.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/pan-american-silver-reports-mineral-reserves-and-mineral-resources-as-at-june-30--077dfe39-1ded-4142-89cb-437554306b1b#fact-resource-facts-147) gold #### 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 factor: Significant contained metal - Negative factor: Lower confidence category \(Inferred Resource\) Evidence · table > 0.81 Context: 276.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## 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.