# ANX: Investor Presentation Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03151592 Publisher: asx Original announcement: 2026-10-12T22:39:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-12T23:11:37.299Z Atlas analysis updated: 2026-10-12T23:11:37.299Z - Company: Anax Metals Limited - Ticker: ANX - Exchange: ASX - Region: Western Australia - Primary commodity: Copper - Secondary commodities: Zinc, Lead, Silver, Gold - Document categories: Other, Capital raise, Resource update - Extracted: 2026-10-12 23:11:38 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Anax Metals has released an investor presentation detailing strong economic metrics from its updated Definitive Feasibility Study for the Whim Creek Project, including a pre-tax NPV of A$501M and a 14-month payback period. The company has received non-binding term sheets for up to A$57M in project funding and reported an updated Measured Mineral Resource for the Mons Cupri deposit. The presentation emphasizes the project's readiness for production, supported by existing permits and infrastructure. Reasoning: The investor presentation highlights robust economic study results for the Whim Creek Project, significant progress in securing project funding, and an updated resource estimate for Mons Cupri, positioning the company for near-term production. While some resource data is historical, the overall update is positive. - Positive factor: Strong economic metrics from DFS update \(high NPV, IRR, short payback\) - Positive factor: Significant progress on project funding with indicative term sheets received - Positive factor: Project is fully permitted and has existing infrastructure - Positive factor: Updated Measured Mineral Resource for Mons Cupri showing tonnage increase - Positive factor: High proportion of Proven and Probable Reserves \(94%\) underpinning production target - Negative factor: Some resource estimates are historical re-releases with no new information - Negative factor: Aspirational production targets are explicitly stated as not having reasonable grounds Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 87 ## Classification and evidence **High IRR** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The DFS update reports a 98% IRR at base case prices and 118% at spot prices. Evidence · text > 98% IRR at base case prices; A$649M at spot **Short Payback Period** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The DFS update indicates a 14-month payback period at base case prices and 12 months at spot prices. Evidence · text > 14 months Payback At base case prices; 12 months at spot **Low Initial Capex** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The DFS update states an all-in development cost of A$91M, with A$77M pre-production capex. Evidence · text > A$91M All-in development cost A$77M pre-production capex plus A$14M working capital **DFS Complete** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document refers to a 'Whim Creek DFS Update Confirms Outstanding Economics' dated 24 February 2026. Evidence · text > Whim Creek DFS Update Confirms Outstanding Economics **Financing Commitments** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company has received 'several non-binding, indicative term sheets' for up to A$57 million to fund its 80% interest. Evidence · text > The Company has received several non-binding, indicative term sheets from a select group of highly reputable and experienced debt and off-take providers. Anax has been very encouraged by the size, structure and implied cost of the financing packages outlined in the respective term sheets which include offers of up to A$57 million to fund Anax’s 80% interest. **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: Mineral Resource estimates have been prepared by Competent Persons in accordance with the 2012 edition of the JORC Code. Evidence · text > The Whim Creek Project Mineral Resource estimates have been prepared by Competent Persons in accordance with the 2012 edition of the JORC Code **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: Mineral Resource estimates have been prepared by Competent Persons. Evidence · text > The Whim Creek Project Mineral Resource estimates have been prepared by Competent Persons **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The Mons Cupri deposit has a Measured Mineral Resource of 1.5 Mt. Evidence · table > Measured Context: Mons Cupri **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: The Mons Cupri deposit has a Proven Ore Reserve of 1.06 Mt. Evidence · table > Proven Context: Mons Cupri **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: Measured Mineral Resource tonnes for Mons Cupri increased from 1.1Mt to 1.48Mt. Evidence · text > Measured Mineral Resource tonnes increased from 1.1Mt to 1.48Mt at a copper equivalent grade of 2.03% **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: The document explicitly states 'NO NEW INFORMATION – MINERAL RESOURCES' for Whim Creek \(2021\), Evelyn \(2022\), and Salt Creek \(2022\) resources. Evidence · text > NO NEW INFORMATION – MINERAL RESOURCES ## Extracted facts Stored fact records: 85. Some facts used in scoring do not have a stored record. ## Resource Estimates (85) ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-2) Whim Creek Project · copper #### Identity - Project: Whim Creek Project - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8752be0eb1699f55bfe2 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 1060000 - Grade: 1.46 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Proven Open Pit reserve at Mons Cupri provides a high-confidence, economically viable copper component to the project. - Positive factor: High confidence category \(Proven\) - Positive factor: Good grade for open pit copper Evidence · table > 1.46 Context: 1.06 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-3) Whim Creek Project · zinc #### Identity - Project: Whim Creek Project - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8752be0eb1699f55bfe2 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 1060000 - Grade: 1.58 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Proven Open Pit reserve at Mons Cupri includes a valuable zinc component, adding to the project's polymetallic nature. - Positive factor: High confidence category \(Proven\) - Positive factor: Good grade for open pit zinc Evidence · table > 1.58 Context: 1.06 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-4) Whim Creek Project · lead #### Identity - Project: Whim Creek Project - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8752be0eb1699f55bfe2 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 1060000 - Grade: 0.68 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Proven Open Pit reserve at Mons Cupri also contains a lead component, further diversifying the project's revenue streams. - Positive factor: High confidence category \(Proven\) - Positive factor: Additional valuable metal Evidence · table > 0.68 Context: 1.06 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-5) Whim Creek Project · silver #### Identity - Project: Whim Creek Project - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8752be0eb1699f55bfe2 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 1060000 - Grade: 38 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Proven Open Pit reserve at Mons Cupri includes a significant silver grade, adding to the project's overall value. - Positive factor: High confidence category \(Proven\) - Positive factor: Good silver grade Evidence · table > 38 Context: 1.06 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-6) Whim Creek Project · gold #### Identity - Project: Whim Creek Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8752be0eb1699f55bfe2 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 1060000 - Grade: 0.28 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Proven Open Pit reserve at Mons Cupri contains a gold component, further enhancing the project's economic potential. - Positive factor: High confidence category \(Proven\) - Positive factor: Gold as a valuable byproduct Evidence · table > 0.28 Context: 1.06 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-7) Whim Creek Project · copper #### Identity - Project: Whim Creek Project - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:185e45e42d97e57d284f - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 1490000 - Grade: 0.83 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri contributes significantly to the overall copper reserve base. - Positive factor: Probable category adds to reserve base - Positive factor: Good copper grade for open pit Evidence · table > 0.83 Context: 1.49 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-8) Whim Creek Project · zinc #### Identity - Project: Whim Creek Project - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:185e45e42d97e57d284f - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 1490000 - Grade: 1.08 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri includes a zinc component, enhancing the polymetallic nature of the reserve. - Positive factor: Probable category adds to reserve base - Positive factor: Valuable zinc component Evidence · table > 1.08 Context: 1.49 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-9) Whim Creek Project · lead #### Identity - Project: Whim Creek Project - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:185e45e42d97e57d284f - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 1490000 - Grade: 0.47 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri also contains a lead component, contributing to the project's overall value. - Positive factor: Probable category adds to reserve base - Positive factor: Additional valuable metal Evidence · table > 0.47 Context: 1.49 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-10) Whim Creek Project · silver #### Identity - Project: Whim Creek Project - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:185e45e42d97e57d284f - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 1490000 - Grade: 23 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri includes a silver grade, adding to the project's economic potential. - Positive factor: Probable category adds to reserve base - Positive factor: Good silver grade Evidence · table > 23 Context: 1.49 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-11) Whim Creek Project · gold #### Identity - Project: Whim Creek Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:185e45e42d97e57d284f - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 1490000 - Grade: 0.14 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri contains a gold component, contributing to the project's overall value. - Positive factor: Probable category adds to reserve base - Positive factor: Gold as a valuable byproduct Evidence · table > 0.14 Context: 1.49 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-12) Whim Creek Project · copper #### Identity - Project: Whim Creek Project - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:63f15159a86f796e9a40 - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 720000 - Grade: 1.54 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Whim Creek adds a significant copper component to the overall reserve base. - Positive factor: Probable category adds to reserve base - Positive factor: Good copper grade for open pit Evidence · table > 1.54 Context: 0.72 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-13) Whim Creek Project · zinc #### Identity - Project: Whim Creek Project - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:63f15159a86f796e9a40 - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 720000 - Grade: 1.14 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Whim Creek includes a zinc component, enhancing the polymetallic nature of the reserve. - Positive factor: Probable category adds to reserve base - Positive factor: Valuable zinc component Evidence · table > 1.14 Context: 0.72 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-14) Whim Creek Project · lead #### Identity - Project: Whim Creek Project - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:63f15159a86f796e9a40 - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 720000 - Grade: 0.15 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Whim Creek also contains a lead component, contributing to the project's overall value. - Positive factor: Probable category adds to reserve base - Positive factor: Additional valuable metal Evidence · table > 0.15 Context: 0.72 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-15) Whim Creek Project · silver #### Identity - Project: Whim Creek Project - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:63f15159a86f796e9a40 - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 720000 - Grade: 7 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Whim Creek includes a silver grade, adding to the project's economic potential. - Positive factor: Probable category adds to reserve base - Positive factor: Silver as a valuable byproduct Evidence · table > 7 Context: 0.72 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-16) Whim Creek Project · gold #### Identity - Project: Whim Creek Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:63f15159a86f796e9a40 - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 720000 - Grade: 0.06 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Whim Creek contains a gold component, contributing to the project's overall value. - Positive factor: Probable category adds to reserve base - Positive factor: Gold as a valuable byproduct Evidence · table > 0.06 Context: 0.72 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-17) Whim Creek Project · copper #### Identity - Project: Whim Creek Project - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c6e0e6e261c81ef16081 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 560000 - Grade: 2.04 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Evelyn provides a high-grade copper component, enhancing the project's overall reserve quality. - Positive factor: Probable category adds to reserve base - Positive factor: High copper grade for underground Evidence · table > 2.04 Context: 0.56 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-18) Whim Creek Project · zinc #### Identity - Project: Whim Creek Project - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c6e0e6e261c81ef16081 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 560000 - Grade: 3.26 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Evelyn includes a significant zinc grade, contributing to the project's polymetallic nature. - Positive factor: Probable category adds to reserve base - Positive factor: Good zinc grade for underground Evidence · table > 3.26 Context: 0.56 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-19) Whim Creek Project · lead #### Identity - Project: Whim Creek Project - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c6e0e6e261c81ef16081 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 560000 - Grade: 0.23 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Evelyn also contains a lead component, adding to the project's overall value. - Positive factor: Probable category adds to reserve base - Positive factor: Additional valuable metal Evidence · table > 0.23 Context: 0.56 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-20) Whim Creek Project · silver #### Identity - Project: Whim Creek Project - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c6e0e6e261c81ef16081 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 560000 - Grade: 34 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Evelyn includes a significant silver grade, enhancing the project's economic potential. - Positive factor: Probable category adds to reserve base - Positive factor: Good silver grade Evidence · table > 34 Context: 0.56 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-21) Whim Creek Project · gold #### Identity - Project: Whim Creek Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c6e0e6e261c81ef16081 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 560000 - Grade: 0.83 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Evelyn contains a high gold grade, significantly contributing to the project's value. - Positive factor: Probable category adds to reserve base - Positive factor: High gold grade for underground Evidence · table > 0.83 Context: 0.56 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-22) Whim Creek Project · copper #### Identity - Project: Whim Creek Project - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8812f77131a488a9bf5b - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 790000 - Grade: 1.57 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Salt Creek adds a significant copper component to the overall reserve base. - Positive factor: Probable category adds to reserve base - Positive factor: Good copper grade for underground Evidence · table > 1.57 Context: 0.79 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-23) Whim Creek Project · zinc #### Identity - Project: Whim Creek Project - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8812f77131a488a9bf5b - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 790000 - Grade: 6 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Salt Creek includes a high zinc grade, significantly enhancing the project's polymetallic value. - Positive factor: Probable category adds to reserve base - Positive factor: High zinc grade for underground Evidence · table > 6 Context: 0.79 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-24) Whim Creek Project · lead #### Identity - Project: Whim Creek Project - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8812f77131a488a9bf5b - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 790000 - Grade: 1.83 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Salt Creek also contains a significant lead grade, adding to the project's overall value. - Positive factor: Probable category adds to reserve base - Positive factor: Good lead grade for underground Evidence · table > 1.83 Context: 0.79 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-25) Whim Creek Project · silver #### Identity - Project: Whim Creek Project - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8812f77131a488a9bf5b - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 790000 - Grade: 48 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Salt Creek includes a significant silver grade, enhancing the project's economic potential. - Positive factor: Probable category adds to reserve base - Positive factor: Good silver grade Evidence · table > 48 Context: 0.79 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-26) Whim Creek Project · gold #### Identity - Project: Whim Creek Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8812f77131a488a9bf5b - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 790000 - Grade: 0.27 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Underground reserve at Salt Creek contains a gold component, contributing to the project's overall value. - Positive factor: Probable category adds to reserve base - Positive factor: Gold as a valuable byproduct Evidence · table > 0.27 Context: 0.79 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-27) Whim Creek · copper #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:407d861034eb23ad330b - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1500000 - Grade: 1.22 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.03 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Measured resource at Mons Cupri provides a high-confidence copper component, supporting the project's economic viability. - Positive factor: Highest confidence category \(Measured\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 1.22 Context: 1.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-28) Whim Creek · zinc #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:407d861034eb23ad330b - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1500000 - Grade: 1.41 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.03 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Measured resource at Mons Cupri includes a valuable zinc component, enhancing the polymetallic nature of the resource. - Positive factor: Highest confidence category \(Measured\) - Positive factor: Good zinc grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 1.41 Context: 1.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-29) Whim Creek · lead #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:407d861034eb23ad330b - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1500000 - Grade: 0.57 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.03 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Measured resource at Mons Cupri also contains a lead component, contributing to the project's overall value. - Positive factor: Highest confidence category \(Measured\) - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 0.57 Context: 1.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-30) Whim Creek · silver #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:407d861034eb23ad330b - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1500000 - Grade: 31 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.03 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Measured resource at Mons Cupri includes a significant silver grade, enhancing the project's economic potential. - Positive factor: Highest confidence category \(Measured\) - Positive factor: Good silver grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 31 Context: 1.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-31) Whim Creek · gold #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:407d861034eb23ad330b - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 1500000 - Grade: 0.28 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 2.03 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Measured resource at Mons Cupri contains a gold component, further enhancing the project's economic potential. - Positive factor: Highest confidence category \(Measured\) - Positive factor: Gold as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 0.28 Context: 1.5 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-32) Whim Creek · copper #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:10827477ac083427a449 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3500000 - Grade: 0.75 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.27 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri provides a substantial copper component, adding to the project's overall resource base. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 0.75 Context: 3.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-33) Whim Creek · zinc #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:10827477ac083427a449 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3500000 - Grade: 0.92 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.27 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri includes a valuable zinc component, enhancing the polymetallic nature of the resource. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Valuable zinc component - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 0.92 Context: 3.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-34) Whim Creek · lead #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:10827477ac083427a449 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3500000 - Grade: 0.4 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.27 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri also contains a lead component, contributing to the project's overall value. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 0.40 Context: 3.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-35) Whim Creek · silver #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:10827477ac083427a449 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3500000 - Grade: 21 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.27 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri includes a silver grade, enhancing the project's economic potential. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good silver grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 21 Context: 3.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-36) Whim Creek · gold #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:10827477ac083427a449 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 3500000 - Grade: 0.14 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.27 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri contains a gold component, further enhancing the project's economic potential. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Gold as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 0.14 Context: 3.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-37) Whim Creek · copper #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:dff747f0bd841b3a3ae8 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1400000 - Grade: 0.45 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 0.94 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri adds to the overall copper resource, but with lower geological confidence. - Positive factor: Adds to overall resource base - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 0.45 Context: 1.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-38) Whim Creek · zinc #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:dff747f0bd841b3a3ae8 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1400000 - Grade: 1.01 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 0.94 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri includes a valuable zinc component, but with lower geological confidence. - Positive factor: Adds to overall resource base - Positive factor: Valuable zinc component - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 1.01 Context: 1.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-39) Whim Creek · lead #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:dff747f0bd841b3a3ae8 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1400000 - Grade: 0.41 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 0.94 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri also contains a lead component, but with lower geological confidence. - Positive factor: Adds to overall resource base - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 0.41 Context: 1.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-40) Whim Creek · silver #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:dff747f0bd841b3a3ae8 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1400000 - Grade: 21 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 0.94 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri includes a silver grade, but with lower geological confidence. - Positive factor: Adds to overall resource base - Positive factor: Good silver grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 21 Context: 1.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-41) Whim Creek · gold #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:dff747f0bd841b3a3ae8 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 1400000 - Grade: 0.07 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 0.94 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri contains a gold component, but with lower geological confidence. - Positive factor: Adds to overall resource base - Positive factor: Gold as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 0.07 Context: 1.4 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-42) Whim Creek Project · copper #### Identity - Project: Whim Creek Project - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3461baf3a20101652f9 - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 4610000 - Grade: 1.36 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri contributes significantly to the overall copper reserve base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Probable category adds to reserve base - Positive factor: Good copper grade for open pit Evidence · table > 1.36 Context: 4.61 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-43) Whim Creek Project · zinc #### Identity - Project: Whim Creek Project - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3461baf3a20101652f9 - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 4610000 - Grade: 2.31 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri contributes significantly to the overall copper reserve base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Probable category adds to reserve base - Positive factor: Good copper grade for open pit Evidence · table > 2.31 Context: 4.61 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-44) Whim Creek Project · lead #### Identity - Project: Whim Creek Project - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3461baf3a20101652f9 - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 4610000 - Grade: 0.67 - Grade Unit: % #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri contributes significantly to the overall copper reserve base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Probable category adds to reserve base - Positive factor: Good copper grade for open pit Evidence · table > 0.67 Context: 4.61 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-45) Whim Creek Project · silver #### Identity - Project: Whim Creek Project - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3461baf3a20101652f9 - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 4610000 - Grade: 30 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri contributes significantly to the overall copper reserve base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Probable category adds to reserve base - Positive factor: Good copper grade for open pit Evidence · table > 30 Context: 4.61 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-46) Whim Creek Project · gold #### Identity - Project: Whim Creek Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3461baf3a20101652f9 - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 4610000 - Grade: 0.27 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2026-02-24 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Probable Open Pit reserve at Mons Cupri contributes significantly to the overall copper reserve base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Probable category adds to reserve base - Positive factor: Good copper grade for open pit Evidence · table > 0.27 Context: 4.61 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-47) Whim Creek · copper Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:811fc49275f099cec4ae - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1800000 - Grade: 1.42 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 2.83 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Salt Creek provides a substantial copper component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 1.42 Context: 1.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-48) Whim Creek · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:811fc49275f099cec4ae - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1800000 - Grade: 4.28 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 2.83 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Salt Creek includes a valuable zinc component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good zinc grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 4.28 Context: 1.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-49) Whim Creek · lead Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:811fc49275f099cec4ae - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1800000 - Grade: 1.26 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 2.83 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Salt Creek also contains a lead component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 1.26 Context: 1.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-50) Whim Creek · silver Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:811fc49275f099cec4ae - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1800000 - Grade: 33 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 2.83 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Salt Creek includes a silver grade, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good silver grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 33 Context: 1.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-51) Whim Creek · gold Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:811fc49275f099cec4ae - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1800000 - Grade: 0.21 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 2.83 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Salt Creek contains a gold component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Gold as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 0.21 Context: 1.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-52) Whim Creek · copper Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ddb7bac3e8550db9cd37 - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 900000 - Grade: 1.05 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 1.61 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Salt Creek adds to the overall copper resource, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 1.05 Context: 0.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-53) Whim Creek · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ddb7bac3e8550db9cd37 - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 900000 - Grade: 1.8 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 1.61 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Salt Creek includes a valuable zinc component, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Valuable zinc component - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 1.80 Context: 0.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-54) Whim Creek · lead Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ddb7bac3e8550db9cd37 - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 900000 - Grade: 0.56 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 1.61 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Salt Creek also contains a lead component, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 0.56 Context: 0.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-55) Whim Creek · silver Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ddb7bac3e8550db9cd37 - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 900000 - Grade: 11 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 1.61 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Salt Creek includes a silver grade, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Good silver grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 11 Context: 0.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-56) Whim Creek · gold Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ddb7bac3e8550db9cd37 - Deposit or zone: Salt Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 900000 - Grade: 0.08 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2022-09-12 #### Metal Equivalent - Metal Eq. Grade: 1.61 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-09-12T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Salt Creek contains a gold component, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Gold as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 0.08 Context: 0.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.1 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-57) Whim Creek · copper Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d828472648401286088a - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1900000 - Grade: 1.04 - Grade Unit: % #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 1.29 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Whim Creek provides a substantial copper component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 1.04 Context: 1.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-58) Whim Creek · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d828472648401286088a - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1900000 - Grade: 0.79 - Grade Unit: % #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 1.29 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Whim Creek includes a valuable zinc component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Valuable zinc component - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 0.79 Context: 1.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-59) Whim Creek · lead Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d828472648401286088a - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1900000 - Grade: 0.18 - Grade Unit: % #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 1.29 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Whim Creek also contains a lead component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 0.18 Context: 1.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-60) Whim Creek · silver Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d828472648401286088a - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1900000 - Grade: 6 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 1.29 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Whim Creek includes a silver grade, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Silver as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 6 Context: 1.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-61) Whim Creek · gold Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d828472648401286088a - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 1900000 - Grade: 0.05 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 1.29 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Whim Creek contains a gold component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Gold as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 0.05 Context: 1.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-62) Whim Creek · copper Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:35ab16ba9c59d860810e - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 0.53 - Grade Unit: % #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 0.64 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Whim Creek adds to the overall copper resource, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 0.53 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-63) Whim Creek · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:35ab16ba9c59d860810e - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 0.33 - Grade Unit: % #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 0.64 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Whim Creek includes a valuable zinc component, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Valuable zinc component - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 0.33 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-64) Whim Creek · lead Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:35ab16ba9c59d860810e - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 0.1 - Grade Unit: % #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 0.64 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Whim Creek also contains a lead component, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 0.10 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-65) Whim Creek · silver Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:35ab16ba9c59d860810e - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 3 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 0.64 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Whim Creek includes a silver grade, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Silver as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 3 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-66) Whim Creek · gold Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:35ab16ba9c59d860810e - Deposit or zone: Whim Creek - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 0.02 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2021-05-25 #### Metal Equivalent - Metal Eq. Grade: 0.64 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-05-25T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Whim Creek contains a gold component, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Gold as a valuable byproduct - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 0.02 Context: 0.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 5.4 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-67) Whim Creek · copper Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:fa34c0d5f5191c14b4d9 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 500000 - Grade: 2.47 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.33 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Evelyn provides a high-grade copper component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: High copper grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 2.47 Context: 0.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-68) Whim Creek · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:fa34c0d5f5191c14b4d9 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 500000 - Grade: 3.97 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.33 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Evelyn includes a high zinc grade, enhancing the polymetallic nature of the resource, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: High zinc grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 3.97 Context: 0.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-69) Whim Creek · lead Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:fa34c0d5f5191c14b4d9 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 500000 - Grade: 0.29 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.33 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Evelyn also contains a lead component, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 0.29 Context: 0.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-70) Whim Creek · silver Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:fa34c0d5f5191c14b4d9 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 500000 - Grade: 42 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.33 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Evelyn includes a high silver grade, significantly enhancing the project's economic potential, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: High silver grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 42 Context: 0.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-71) Whim Creek · gold Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:fa34c0d5f5191c14b4d9 - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 500000 - Grade: 1 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.33 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Evelyn contains a high gold grade, significantly contributing to the project's value, but it is a re-release of historical data. - Positive factor: Good confidence category \(Indicated\) - Positive factor: High gold grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Historical estimate Evidence · table > 1.00 Context: 0.5 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-72) Whim Creek · copper Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c305161d4504d5611adc - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 2.84 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.52 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Evelyn adds to the overall copper resource with a high grade, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: High copper grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 2.84 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-73) Whim Creek · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c305161d4504d5611adc - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 3.62 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.52 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Evelyn includes a high zinc grade, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: High zinc grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 3.62 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-74) Whim Creek · lead Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c305161d4504d5611adc - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 0.2 - Grade Unit: % #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.52 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Evelyn also contains a lead component, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: Additional valuable metal - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 0.20 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-75) Whim Creek · silver Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c305161d4504d5611adc - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 37 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.52 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Evelyn includes a high silver grade, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: High silver grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 37 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-76) Whim Creek · gold Historical result Needs review: historical\_restatement #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c305161d4504d5611adc - Deposit or zone: Evelyn - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 0.92 - Grade Unit: ppm #### Prior Estimate - Resource Date: 2022-10-04 #### Metal Equivalent - Metal Eq. Grade: 4.52 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-10-04T00:00:00.000Z #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Evelyn contains a high gold grade, but it is a re-release of historical data with lower confidence. - Positive factor: Adds to overall resource base - Positive factor: High gold grade - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Historical estimate Evidence · table > 0.92 Context: 0.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.0 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-77) Whim Creek · copper #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:20df26a757a40dc4506e - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 7600000 - Grade: 1.09 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.84 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri provides a substantial copper component, adding to the project's overall resource base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 1.09 Context: 7.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-78) Whim Creek · zinc #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:20df26a757a40dc4506e - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 7600000 - Grade: 1.88 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.84 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri provides a substantial copper component, adding to the project's overall resource base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 1.88 Context: 7.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-79) Whim Creek · lead #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:20df26a757a40dc4506e - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 7600000 - Grade: 0.55 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.84 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri provides a substantial copper component, adding to the project's overall resource base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 0.55 Context: 7.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-80) Whim Creek · silver #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:20df26a757a40dc4506e - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 7600000 - Grade: 21 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.84 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri provides a substantial copper component, adding to the project's overall resource base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 21 Context: 7.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-81) Whim Creek · gold #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:20df26a757a40dc4506e - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 7600000 - Grade: 0.19 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.84 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Indicated resource at Mons Cupri provides a substantial copper component, adding to the project's overall resource base. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Good confidence category \(Indicated\) - Positive factor: Good copper grade - Positive factor: Metal equivalent assumptions disclosed Evidence · table > 0.19 Context: 7.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-82) Whim Creek · copper #### Identity - Project: Whim Creek - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8dc47915a6eb6c7e6d13 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3100000 - Grade: 0.73 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.21 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri adds to the overall copper resource, but with lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 0.73 Context: 3.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-83) Whim Creek · zinc #### Identity - Project: Whim Creek - Commodity: zinc - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8dc47915a6eb6c7e6d13 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3100000 - Grade: 1.18 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.21 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri adds to the overall copper resource, but with lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 1.18 Context: 3.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-84) Whim Creek · lead #### Identity - Project: Whim Creek - Commodity: lead - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8dc47915a6eb6c7e6d13 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3100000 - Grade: 0.37 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.21 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri adds to the overall copper resource, but with lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 0.37 Context: 3.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-85) Whim Creek · silver #### Identity - Project: Whim Creek - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8dc47915a6eb6c7e6d13 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3100000 - Grade: 15 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.21 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri adds to the overall copper resource, but with lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 15 Context: 3.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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-staging.minestarters.com/news/anx-investor-presentation--e63914de-536b-4e90-9eea-76c7cd214495#fact-resource-facts-86) Whim Creek · gold #### Identity - Project: Whim Creek - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: ANX #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8dc47915a6eb6c7e6d13 - Deposit or zone: Mons Cupri - Mining method: combined - Ownership percent: 80 % - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 3100000 - Grade: 0.09 - Grade Unit: ppm - Cutoff Grade: 0.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2026-08-25 #### Metal Equivalent - Metal Eq. Grade: 1.21 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-12T00:00:00.000Z Reasoning: The Inferred resource at Mons Cupri adds to the overall copper resource, but with lower geological confidence. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Adds to overall resource base - Positive factor: Metal equivalent assumptions disclosed - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 0.09 Context: 3.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **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 **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 ## 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.