# Silverco Releases Positive PEA for Producing La Negra Mine Outlining a Low Capital, 8.2 Year Mine Life Generating After-Tax NPV of $329 Million Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb Original source: https://investingnews.com/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capital-8-2-year-mine-life-generating-after-tax-npv-of-329-million/ Publisher: investingnews Original announcement: 2026-09-21T09:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Silverco Mining Ltd. - Ticker: SICO - Exchange: TSXV - Region: Querétaro, Mexico - Primary commodity: Silver - Secondary commodities: Copper, Lead, Zinc - Document categories: Resource update, Economic study, Metallurgy - Extracted: 2026-09-21 15:18:45 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Silverco Mining has released a positive Preliminary Economic Assessment \(PEA\) for its La Negra Mine in Mexico, projecting an after-tax NPV\(5%\) of $329 million and a 131% IRR over an 8.2-year mine life. The study highlights low initial capital of $20.9 million and average annual production of 4.1 Moz silver equivalent. The PEA is supported by an updated Mineral Resource Estimate, including 15.23 Mt Indicated resources at 201 g/t AgEq, and incorporates high metallurgical recoveries based on actual plant performance. Reasoning: The document presents a highly positive PEA for the La Negra Mine, demonstrating strong economics with a significant after-tax NPV and IRR, low capital intensity, and a substantial mine life. The supporting MRE provides a robust resource base, and the project benefits from existing infrastructure and permits. While it is a PEA and includes Inferred resources, the overall picture is very favorable for Silverco Mining. - Positive factor: Strong after-tax NPV and IRR for a PEA, indicating robust project economics. - Positive factor: Low initial capital requirements relative to the project's value. - Positive factor: Long mine life with significant annual silver equivalent production. - Positive factor: New Mineral Resource Estimate provides a solid foundation, with a high percentage of Indicated resources. - Positive factor: Existing infrastructure and fully permitted status reduce project risk. - Positive factor: High metallurgical recoveries for all key metals, based on actual plant performance. - Negative factor: PEA includes Inferred Mineral Resources, which are speculative and cannot be converted to reserves. - Negative factor: The study is a Preliminary Economic Assessment \(PEA\), which has a lower level of accuracy and confidence compared to PFS or DFS. - Negative factor: AISC is reported on a co-product basis for AgEq, which can be less transparent than a primary metal AISC. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 61 ## Classification and evidence **PEA Only** Polarity: neutral Definition: Only Class 4 / Initial Assessment economics available. Not bankable. Why it applies: The document explicitly states the release of a 'Preliminary Economic Assessment \(PEA\)'. Evidence · text > Silverco Releases Positive PEA for Producing La Negra Mine Outlining a Low Capital, 8.2 Year Mine Life Generating After-Tax NPV of $329 Million **High IRR** Polarity: positive Definition: Post-tax real unlevered IRR in the strong tier or better. Why it applies: The after-tax IRR of 131% is well above the strong tier threshold for economic studies. Evidence · table > 131 Context: After-Tax IRR **Fast Payback** Polarity: positive Definition: Payback in the strong tier or better, on the required basis. Why it applies: The after-tax payback period of 2.0 years is within the exceptional tier for economic studies. Evidence · table > 2.0 Context: After-Tax Payback **Low Capital Intensity** Polarity: positive Definition: Below the benchmark for its project type. Why it applies: The initial capital of $20.9 million is highlighted as 'Low Capital Requirements' and results in a 15.7x after-tax NPV to initial capital ratio. Evidence · text > Low Capital Requirements - Initial capital of only $20.9 M, delivering a 15.7x after-tax NPV to initial capital ratio at base case metal prices. **Inferred Heavy Feed** Polarity: negative Definition: Material Inferred share of LOM mill feed, or the share is undisclosed. Why it applies: The production schedule underlying the PEA includes approximately 21% Inferred Mineral Resources by tonnage. Evidence · text > The production schedule underlying the PEA includes approximately 79% Indicated and 21% Inferred Mineral Resources by tonnage. **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The MRE was prepared in accordance with National Instrument 43-101, which is a high reporting standard. Evidence · text > The PEA and supporting Mineral Resource Estimate \("MRE"\) were prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects \("NI 43-101"\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The MRE was prepared by Allan Armitage, Ph.D., P.Geo. of SGS Geological Services, an independent Qualified Person as defined by NI 43-101. Evidence · text > The MRE was prepared by Allan Armitage, Ph.D., P.Geo. of SGS Geological Services, an independent Qualified Person as defined by NI 43-101. **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: Life-of-mine metallurgical recoveries average 83.6% for silver, 77.8% for copper, 81.5% for lead and 81.9% for zinc, which are strong for a flotation circuit. Evidence · text > Life-of-mine metallurgical recoveries average 83.6% for silver, 77.8% for copper, 81.5% for lead and 81.9% for zinc. **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: Metallurgical recovery assumptions were developed off actual plant performance since restarting in 2024 up to Q1 2026, indicating a high level of test maturity. Evidence · text > Metallurgical recovery assumptions were developed off actual plant performance since restarting in 2024 up to Q1 2026. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The processing facility at La Negra consists of a standard crushing, grinding, flotation, and filtration circuit. Evidence · text > The processing facility at La Negra consists of a standard crushing, grinding, flotation, and filtration circuit producing lead-silver, copper-silver, and zinc concentrates. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade ## Extracted facts Stored fact records: 60. Some facts used in scoring do not have a stored record. ## Resource Estimates (56) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-5) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:d1bc25b8a5445b143590 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 15230000 - Grade: 106 - Grade Unit: g/t - Contained Metal: 51.9 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 201 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 106 Context: 15.23 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-6) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:d1bc25b8a5445b143590 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 15230000 - Grade: 0.59 - Grade Unit: % - Contained Metal: 199 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 201 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This represents a substantial indicated lead resource, contributing to the overall project economics as a byproduct. The estimate is compliant with NI 43-101. - Positive factor: Significant indicated resource for lead as a byproduct. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.59 Context: 15.23 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-7) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:d1bc25b8a5445b143590 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 15230000 - Grade: 1.81 - Grade Unit: % - Contained Metal: 608 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 201 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This represents a substantial indicated zinc resource, contributing to the overall project economics as a byproduct. The estimate is compliant with NI 43-101. - Positive factor: Significant indicated resource for zinc as a byproduct. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 1.81 Context: 15.23 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-8) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:d1bc25b8a5445b143590 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 15230000 - Grade: 0.47 - Grade Unit: % - Contained Metal: 158 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 201 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This represents a substantial indicated copper resource, contributing to the overall project economics as a byproduct. The estimate is compliant with NI 43-101. - Positive factor: Significant indicated resource for copper as a byproduct. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.47 Context: 15.23 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-9) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:74ef2e845c04ca26f598 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2260000 - Grade: 92 - Grade Unit: g/t - Contained Metal: 6.72 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 174 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 92 Context: 2.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-10) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:74ef2e845c04ca26f598 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2260000 - Grade: 1 - Grade Unit: % - Contained Metal: 49.7 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 174 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. - Positive factor: Good inferred resource for lead as a byproduct, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 1.00 Context: 2.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-11) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:74ef2e845c04ca26f598 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2260000 - Grade: 1.92 - Grade Unit: % - Contained Metal: 95.7 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 174 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. - Positive factor: Good inferred resource for zinc as a byproduct, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 1.92 Context: 2.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-12) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:74ef2e845c04ca26f598 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2260000 - Grade: 0.21 - Grade Unit: % - Contained Metal: 10.6 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 174 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. - Positive factor: Good inferred resource for copper as a byproduct, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 0.21 Context: 2.26 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-13) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:f1c79cbe7a2b2a25039f - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 5340000 - Grade: 158 - Grade Unit: g/t - Contained Metal: 27.1 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 264 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 158 Context: 5.34 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-14) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:f1c79cbe7a2b2a25039f - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 5340000 - Grade: 1.04 - Grade Unit: % - Contained Metal: 121.8 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 264 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 1.04 Context: 5.34 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-15) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:f1c79cbe7a2b2a25039f - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 5340000 - Grade: 2.27 - Grade Unit: % - Contained Metal: 267.4 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 264 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 2.27 Context: 5.34 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-16) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:f1c79cbe7a2b2a25039f - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 5340000 - Grade: 0.39 - Grade Unit: % - Contained Metal: 46.2 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 264 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.39 Context: 5.34 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-17) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:9da1a51ad0d28bd704e9 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 247 - Grade Unit: g/t - Contained Metal: 1.8 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 417 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 247 Context: 0.22 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-18) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:9da1a51ad0d28bd704e9 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 1.81 - Grade Unit: % - Contained Metal: 8.9 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 417 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 1.81 Context: 0.22 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-19) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:9da1a51ad0d28bd704e9 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 4.48 - Grade Unit: % - Contained Metal: 22.1 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 417 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 4.48 Context: 0.22 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-20) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:9da1a51ad0d28bd704e9 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 220000 - Grade: 0.36 - Grade Unit: % - Contained Metal: 1.8 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 417 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 0.36 Context: 0.22 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-21) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:d5ff27bc6d00f2689043 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 860000 - Grade: 71 - Grade Unit: g/t - Contained Metal: 2 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 146 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 71 Context: 0.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-22) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:d5ff27bc6d00f2689043 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 860000 - Grade: 0.33 - Grade Unit: % - Contained Metal: 6.2 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 146 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.33 Context: 0.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-23) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:d5ff27bc6d00f2689043 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 860000 - Grade: 0.68 - Grade Unit: % - Contained Metal: 12.9 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 146 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.68 Context: 0.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-24) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:d5ff27bc6d00f2689043 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 860000 - Grade: 0.61 - Grade Unit: % - Contained Metal: 11.6 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 146 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.61 Context: 0.86 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-25) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:53bbe8145c94d0aec275 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1710000 - Grade: 93 - Grade Unit: g/t - Contained Metal: 5.1 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 155 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 93 Context: 1.71 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-26) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:53bbe8145c94d0aec275 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1710000 - Grade: 0.53 - Grade Unit: % - Contained Metal: 20 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 155 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.53 Context: 1.71 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-27) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:53bbe8145c94d0aec275 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1710000 - Grade: 1.2 - Grade Unit: % - Contained Metal: 45.2 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 155 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 1.20 Context: 1.71 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-28) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:53bbe8145c94d0aec275 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1710000 - Grade: 0.28 - Grade Unit: % - Contained Metal: 10.6 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 155 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.28 Context: 1.71 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-29) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:16c3b3e50f7b01e91f9a - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1090000 - Grade: 61 - Grade Unit: g/t - Contained Metal: 2.2 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 141 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 61 Context: 1.09 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-30) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:16c3b3e50f7b01e91f9a - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1090000 - Grade: 0.22 - Grade Unit: % - Contained Metal: 5.3 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 141 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.22 Context: 1.09 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-31) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:16c3b3e50f7b01e91f9a - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1090000 - Grade: 1.41 - Grade Unit: % - Contained Metal: 33.9 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 141 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 1.41 Context: 1.09 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-32) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:16c3b3e50f7b01e91f9a - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1090000 - Grade: 0.48 - Grade Unit: % - Contained Metal: 11.6 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 141 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.48 Context: 1.09 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-33) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:99952714a86194e3834b - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 970000 - Grade: 111 - Grade Unit: g/t - Contained Metal: 3.5 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 255 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 111 Context: 0.97 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-34) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:99952714a86194e3834b - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 970000 - Grade: 0.47 - Grade Unit: % - Contained Metal: 10.1 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 255 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.47 Context: 0.97 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-35) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:99952714a86194e3834b - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 970000 - Grade: 3.05 - Grade Unit: % - Contained Metal: 65.1 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 255 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 3.05 Context: 0.97 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-36) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:99952714a86194e3834b - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 970000 - Grade: 0.72 - Grade Unit: % - Contained Metal: 15.3 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 255 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.72 Context: 0.97 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-37) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:b05cacc5f5fa91db0614 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 50000 - Grade: 48 - Grade Unit: g/t - Contained Metal: 0.1 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 119 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 48 Context: 0.05 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-38) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:b05cacc5f5fa91db0614 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 50000 - Grade: 0.14 - Grade Unit: % - Contained Metal: 0.2 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 119 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 0.14 Context: 0.05 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-39) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:b05cacc5f5fa91db0614 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 50000 - Grade: 1.75 - Grade Unit: % - Contained Metal: 2 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 119 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 1.75 Context: 0.05 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-40) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:b05cacc5f5fa91db0614 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 50000 - Grade: 0.29 - Grade Unit: % - Contained Metal: 0.3 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 119 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 0.29 Context: 0.05 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-41) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:550d22a6760ff23f6b1a - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2820000 - Grade: 71 - Grade Unit: g/t - Contained Metal: 6.5 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 165 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 71 Context: 2.82 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-42) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:550d22a6760ff23f6b1a - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2820000 - Grade: 0.26 - Grade Unit: % - Contained Metal: 16.4 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 165 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.26 Context: 2.82 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-43) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:550d22a6760ff23f6b1a - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2820000 - Grade: 1.33 - Grade Unit: % - Contained Metal: 83 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 165 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 1.33 Context: 2.82 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-44) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:550d22a6760ff23f6b1a - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2820000 - Grade: 0.66 - Grade Unit: % - Contained Metal: 40.8 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 165 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.66 Context: 2.82 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-45) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:40fba1b9bc64b60bb916 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 770000 - Grade: 51 - Grade Unit: g/t - Contained Metal: 1.3 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 130 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 51 Context: 0.77 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-46) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:40fba1b9bc64b60bb916 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 770000 - Grade: 0.14 - Grade Unit: % - Contained Metal: 2.3 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 130 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.14 Context: 0.77 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-47) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:40fba1b9bc64b60bb916 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 770000 - Grade: 1.2 - Grade Unit: % - Contained Metal: 20.2 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 130 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 1.20 Context: 0.77 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-48) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:40fba1b9bc64b60bb916 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 770000 - Grade: 0.54 - Grade Unit: % - Contained Metal: 9.2 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 130 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.54 Context: 0.77 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-49) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:bcee3c92c5867b27cf88 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1680000 - Grade: 82 - Grade Unit: g/t - Contained Metal: 4.4 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 172 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 82 Context: 1.68 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-50) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:bcee3c92c5867b27cf88 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1680000 - Grade: 0.46 - Grade Unit: % - Contained Metal: 16.9 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 172 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.46 Context: 1.68 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-51) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:bcee3c92c5867b27cf88 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1680000 - Grade: 2.17 - Grade Unit: % - Contained Metal: 80.1 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 172 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 2.17 Context: 1.68 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-52) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:bcee3c92c5867b27cf88 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1680000 - Grade: 0.34 - Grade Unit: % - Contained Metal: 12.7 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 172 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This is a substantial indicated resource for silver, forming a strong base for the PEA. The grade is good, and the estimate is compliant with NI 43-101. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Significant indicated resource tonnage and contained metal. - Positive factor: High AgEq grade for an indicated resource. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. Evidence · table > 0.34 Context: 1.68 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-53) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:4c44b1999c9c498d4f63 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1700000 - Grade: 73 - Grade Unit: g/t - Contained Metal: 4 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 146 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 73 Context: 1.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-54) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:4c44b1999c9c498d4f63 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1700000 - Grade: 0.88 - Grade Unit: % - Contained Metal: 32.9 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 146 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 0.88 Context: 1.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-55) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:4c44b1999c9c498d4f63 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1700000 - Grade: 1.71 - Grade Unit: % - Contained Metal: 64.1 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 146 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 1.71 Context: 1.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-56) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:4c44b1999c9c498d4f63 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1700000 - Grade: 0.2 - Grade Unit: % - Contained Metal: 7.4 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 146 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 0.20 Context: 1.70 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-57) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:7145844f4dda926d3732 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 280000 - Grade: 98 - Grade Unit: g/t - Contained Metal: 0.9 - Contained Unit: moz - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 162 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 98 Context: 0.28 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-58) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:7145844f4dda926d3732 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 280000 - Grade: 1.24 - Grade Unit: % - Contained Metal: 7.7 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 162 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 1.24 Context: 0.28 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-59) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:7145844f4dda926d3732 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 280000 - Grade: 1.22 - Grade Unit: % - Contained Metal: 7.6 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 162 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 1.22 Context: 0.28 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-resource-facts-60) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Resource scope - Estimate type: resource - Effective date: 2026-07-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Allan Armitage - Resource group id: resource:7145844f4dda926d3732 - Deposit or zone: La Negra Mine - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 280000 - Grade: 0.17 - Grade Unit: % - Contained Metal: 1.1 - Contained Unit: mlb - Cutoff Grade: 80 - Cutoff Unit: g/t AgEq #### Prior Estimate - Resource Date: 2026-07-01 #### Metal Equivalent - Metal Eq. Grade: 162 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Geological Services #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: This inferred resource adds to the overall potential of the project, but its speculative nature means it carries higher risk and cannot be directly converted to reserves without further drilling. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good inferred resource tonnage and contained metal, providing exploration upside. - Positive factor: Resource estimate prepared by an independent Qualified Person under NI 43-101. - Negative factor: Inferred resources have a lower level of confidence and are considered speculative for economic studies. Evidence · table > 0.17 Context: 0.28 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (4) ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-metallurgical-facts-0) La Negra Mine · silver #### Identity - Project: La Negra Mine - Commodity: silver - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: standard crushing, grinding, flotation, and filtration circuit #### Recovery - Recovery: 83.6 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Canada Inc. - Consultant: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: The reported silver recovery of 83.6% is strong for a flotation circuit and is based on actual plant data, providing high confidence in the metallurgical assumptions for the PEA. - Positive factor: High silver recovery for a flotation circuit. - Positive factor: Recovery based on actual plant performance, indicating high confidence. - Positive factor: Processing flowsheet is well-established. Evidence · table > 83.6 Context: Silver Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-metallurgical-facts-1) La Negra Mine · lead #### Identity - Project: La Negra Mine - Commodity: lead - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: standard crushing, grinding, flotation, and filtration circuit #### Recovery - Recovery: 81.5 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Canada Inc. - Consultant: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: The reported lead recovery of 81.5% is strong for a flotation circuit and is based on actual plant data, providing high confidence in the metallurgical assumptions for the PEA. - Positive factor: High lead recovery for a flotation circuit. - Positive factor: Recovery based on actual plant performance, indicating high confidence. - Positive factor: Processing flowsheet is well-established. Evidence · table > 81.5 Context: Lead Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-metallurgical-facts-2) La Negra Mine · zinc #### Identity - Project: La Negra Mine - Commodity: zinc - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: standard crushing, grinding, flotation, and filtration circuit #### Recovery - Recovery: 81.9 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Canada Inc. - Consultant: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: The reported zinc recovery of 81.9% is strong for a flotation circuit and is based on actual plant data, providing high confidence in the metallurgical assumptions for the PEA. - Positive factor: High zinc recovery for a flotation circuit. - Positive factor: Recovery based on actual plant performance, indicating high confidence. - Positive factor: Processing flowsheet is well-established. Evidence · table > 81.9 Context: Zinc Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/silverco-releases-positive-pea-for-producing-la-negra-mine-outlining-a-low-capit--9d8b3528-670f-4871-8bd1-a70f8c7fa1fb#fact-metallurgical-facts-3) La Negra Mine · copper #### Identity - Project: La Negra Mine - Commodity: copper - Region: mexico - Reported Region: Querétaro, Mexico - Ticker: SICO #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: standard crushing, grinding, flotation, and filtration circuit #### Recovery - Recovery: 77.8 % - Recovery Basis: actual\_test #### Lab - Laboratory: SGS Canada Inc. - Consultant: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-21T00:00:00.000Z Reasoning: The reported copper recovery of 77.8% is strong for a flotation circuit and is based on actual plant data, providing high confidence in the metallurgical assumptions for the PEA. - Positive factor: High copper recovery for a flotation circuit. - Positive factor: Recovery based on actual plant performance, indicating high confidence. - Positive factor: Processing flowsheet is well-established. Evidence · table > 77.8 Context: Copper Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 77.8% is below the weak band \(80%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## 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.