# Apogee Minerals Closes Knife Lake Copper Project Option Transaction and Files Independent NI 43-101 Technical Report Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a Original source: https://money.tmx.com/en/quote/APMI/news/8556902038510721/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in Publisher: tmx Original announcement: 2026-09-16T12:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-23T06:21:59.838Z Atlas analysis updated: 2026-09-23T06:21:59.838Z - Company: Apogee Minerals Ltd. - Ticker: APMI - Exchange: TSX - Region: Saskatchewan - Primary commodity: Copper - Secondary commodities: Silver, Gold, Cobalt, Zinc - Document categories: Resource update, Agreement transaction, Drill results - Extracted: 2026-09-23 06:22:00 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Apogee Minerals has closed an option agreement to acquire a 100% interest in the Knife Lake Copper Project in Saskatchewan, a VMS-style deposit. The company also filed an NI 43-101 technical report which incorporates recent 2021 and 2022 drill results and details a historical mineral resource estimate from 2019. The historical estimate includes 3.84 Mt Indicated at 1.02% CuEq and 7.90 Mt Inferred at 0.67% CuEq, but the drill core for verification was destroyed in a forest fire. Reasoning: Apogee Minerals has successfully closed the option to acquire the Knife Lake Copper Project and filed an NI 43-101 report. The report details a historical resource and recent drill results, which are positive for project advancement. However, the historical nature of the resource and the destruction of drill core for verification introduce significant risks and reduce confidence in the current status of the resource. - Positive factor: Company has closed the option transaction to acquire a 100% interest in the project, securing future potential. - Positive factor: The NI 43-101 Technical Report has been filed, providing independent assessment and incorporating recent exploration work. - Positive factor: Recent drilling \(2021 and 2022\) confirmed continuity of mineralization and included high-grade copper intercepts. - Positive factor: The project hosts a significant historical resource estimate, indicating established mineralization. - Negative factor: The mineral resource estimate is historical and not current, requiring significant work for verification. - Negative factor: The drill core for the historical estimate and recent drilling was destroyed in a forest fire, preventing re-sampling and verification. - Negative factor: Metal equivalent assumptions for the historical estimate are based on 2019 prices and are not current. - Negative factor: True thicknesses for reported drill intercepts are undetermined, potentially overstating actual widths. Facts used in scoring: 17 ## Classification and evidence **Option Agreement** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document announces the closing of an option transaction to acquire a 100% interest in the Knife Lake Copper Project. Evidence · text > Apogee Minerals Closes Knife Lake Copper Project Option Transaction **Exploration Commitment** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: To exercise the option, the company must incur a minimum of $1,000,000 in exploration expenditures on the property. Evidence · text > incur a minimum of $1,000,000 in exploration expenditures on the Property **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 mineral resource estimate is explicitly stated as historical for the purposes of NI 43-101, as Apogee acquired the project after its preparation. Evidence · text > Apogee acquired its interest in the Project after the 2019 estimate was prepared, and accordingly the estimate is a historical estimate for the purposes of NI 43-101. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The historical estimate was prepared under the direction of Sue Bird, P.Eng., an independent qualified person. Evidence · text > prepared for Trident’s predecessor company, Rockridge, by Moose Mountain Technical Services Inc. under the direction of Sue Bird, P.Eng., an independent qualified person. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The historical estimate is summarized at a 0.4% CuEq cut-off. Evidence · text > summarized below at a 0.4% CuEq cut-off **Metal Equivalent Opaque** Polarity: negative Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Why it applies: The metal equivalent assumptions are based on 2019 prices and are not current, making the equivalent grade less transparent. Evidence · text > These are 2019 assumptions and are not current metal prices. **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The historical mineral resource estimate has an effective date of June 12, 2019, which is over two years old compared to the current announcement date of September 16, 2026. Evidence · text > historical NI 43-101 mineral resource estimate with an effective date of June 12, 2019 **Core Destroyed** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The drill core stored on the property was destroyed in a forest fire and is no longer available for re-sampling, impacting verification. Evidence · text > the 2019 to 2022 drill core stored on the Property was destroyed in a forest fire and is no longer available for re-sampling. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: John Shmyr, P.Geo., a Qualified Person, has reviewed and approved the scientific and technical information and verified the data. Evidence · text > John Shmyr, P.Geo., of Dahrouge Geological Consulting Ltd., a co-author of the Technical Report and a “Qualified Person” as defined by NI 43-101 who is independent of the Company. Mr. Shmyr has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the information **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The reported drill intervals are drilled core lengths, and true thicknesses are undetermined. Evidence · text > The reported intervals are drilled core lengths and true thicknesses are undetermined. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The 2021 drilling program included holes targeting both the Gilbert Lake area and the main Knife Lake Deposit, indicating exploration for extensions. Evidence · text > The 2021 program included 12 diamond drill holes totalling 2,043 metres targeting both the Gilbert Lake area and the main Knife Lake Deposit. **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The 2022 program comprised six holes, including four infill holes at the Knife Lake Deposit. Evidence · text > The 2022 program comprised six holes totalling 939 metres, including four infill holes at the Knife Lake Deposit. ## Extracted facts Stored fact records: 16. Some facts used in scoring do not have a stored record. ## Drill Results (6) ### KF22029 [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-drill-facts-11) Knife Lake · copper #### Identity - Hole ID: KF22029 - Project: Knife Lake - Commodity: copper - Region: canada\_sk - Reported Region: canada\_sk - Ticker: APMI #### Geometry - Grade: 3.8 - Grade Unit: % - Intercept: 0.75 m #### Classification - Deposit Type: vms - Program: resource - Sample Type: drill #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: This bonanza-grade copper sub-interval significantly boosts the positive interpretation of hole KF22029, confirming a very high-grade core within the broader intercept, despite its narrow width. - Positive factor: Very high-grade copper intercept of 3.80% over 0.75m, indicating a bonanza-grade zone. - Positive factor: This sub-interval enhances the overall significance of the KF22029 hole. - Negative factor: True thickness is undetermined, potentially overstating the actual width. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · text > including a higher-grade interval of 0.75 metres grading 3.80% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The deposit comprises three stratabound zones – Central-South, Bay and North – that collectively extend approximately 4." ### KF22029 [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-drill-facts-12) Knife Lake · silver #### Identity - Hole ID: KF22029 - Project: Knife Lake - Commodity: silver - Region: canada\_sk - Reported Region: canada\_sk - Ticker: APMI #### Geometry - Grade: 7.79 - Grade Unit: g/t - Intercept: 15.75 m - From: 13 m - To: 28.75 m - Intercept Depth: 13 m #### Classification - Deposit Type: vms - Program: resource - Sample Type: drill - Group ID: KF22029:13-28.75 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The silver intercept contributes positively to the overall value of the polymetallic mineralization, despite the limitations on true width and core availability. - Positive factor: Significant silver grade of 7.79 g/t over 15.75m adds to the polymetallic nature of the deposit. - Negative factor: True thickness is undetermined, potentially overstating the actual width. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · text > 7.79 g/t Ag Context: Hole KF22029 returned 15.75 metres grading 1.91% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The deposit comprises three stratabound zones – Central-South, Bay and North – that collectively extend approximately 4." ### KF22029 [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-drill-facts-13) Knife Lake · gold #### Identity - Hole ID: KF22029 - Project: Knife Lake - Commodity: gold - Region: canada\_sk - Reported Region: canada\_sk - Ticker: APMI #### Geometry - Grade: 0.23 - Grade Unit: g/t - Intercept: 15.75 m - From: 13 m - To: 28.75 m - Intercept Depth: 13 m #### Classification - Deposit Type: vms - Program: resource - Sample Type: drill - Group ID: KF22029:13-28.75 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The gold intercept contributes positively to the overall value of the polymetallic mineralization, despite the limitations on true width and core availability. - Positive factor: Gold grade of 0.23 g/t over 15.75m adds to the polymetallic nature of the deposit. - Negative factor: True thickness is undetermined, potentially overstating the actual width. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · text > 0.23 g/t Au Context: Hole KF22029 returned 15.75 metres grading 1.91% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The deposit comprises three stratabound zones – Central-South, Bay and North – that collectively extend approximately 4." ### KF22029 [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-drill-facts-14) Knife Lake · zinc #### Identity - Hole ID: KF22029 - Project: Knife Lake - Commodity: zinc - Region: canada\_sk - Reported Region: canada\_sk - Ticker: APMI #### Geometry - Grade: 0.3 - Grade Unit: % - Intercept: 15.75 m - From: 13 m - To: 28.75 m - Intercept Depth: 13 m #### Classification - Deposit Type: vms - Program: resource - Sample Type: drill - Group ID: KF22029:13-28.75 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The zinc intercept contributes positively to the overall value of the polymetallic mineralization, despite the limitations on true width and core availability. - Positive factor: Zinc grade of 0.30% over 15.75m adds to the polymetallic nature of the deposit. - Negative factor: True thickness is undetermined, potentially overstating the actual width. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · text > 0.30% Zn Context: Hole KF22029 returned 15.75 metres grading 1.91% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The deposit comprises three stratabound zones – Central-South, Bay and North – that collectively extend approximately 4." ### KF22029 [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-drill-facts-15) Knife Lake · cobalt #### Identity - Hole ID: KF22029 - Project: Knife Lake - Commodity: cobalt - Region: canada\_sk - Reported Region: canada\_sk - Ticker: APMI #### Geometry - Grade: 0.01 - Grade Unit: % - Intercept: 15.75 m - From: 13 m - To: 28.75 m - Intercept Depth: 13 m #### Classification - Deposit Type: vms - Program: resource - Sample Type: drill - Group ID: KF22029:13-28.75 #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The cobalt intercept contributes positively to the overall value of the polymetallic mineralization, despite the limitations on true width and core availability. - Positive factor: Cobalt grade of 0.01% over 15.75m adds to the polymetallic nature of the deposit. - Negative factor: True thickness is undetermined, potentially overstating the actual width. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · text > 0.01% Co Context: Hole KF22029 returned 15.75 metres grading 1.91% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The deposit comprises three stratabound zones – Central-South, Bay and North – that collectively extend approximately 4." ### KF22030 [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-drill-facts-16) Knife Lake · copper #### Identity - Hole ID: KF22030 - Project: Knife Lake - Commodity: copper - Region: canada\_sk - Reported Region: canada\_sk - Ticker: APMI #### Geometry - Grade: 1.93 - Grade Unit: % - Intercept: 15.9 m - From: 13.8 m - To: 29.7 m #### Classification - Deposit Type: vms - Sample Type: drill #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: This bonanza-grade copper sub-interval significantly boosts the positive interpretation of hole KF22029, confirming a very high-grade core within the broader intercept, despite its narrow width. - Positive factor: Very high-grade copper intercept of 3.80% over 0.75m, indicating a bonanza-grade zone. - Positive factor: This sub-interval enhances the overall significance of the KF22029 hole. - Negative factor: True thickness is undetermined, potentially overstating the actual width. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · text > 15.90 metres grading 1.93% Cu, 0.26 g/t Au, 7.50 g/t Ag, 0.17% Zn and 0.02% Co from 13.80 metres #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **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 **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The deposit comprises three stratabound zones – Central-South, Bay and North – that collectively extend approximately 4." ## Resource Estimates (10) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-1) Knife Lake Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: copper - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:2caa0b3a8283a748e20a - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: indicated - Tonnes: 3836000 - Grade: 70 - Grade Unit: mlbs - Contained Metal: 70 - Contained Unit: mlbs - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 1.02 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical indicated resource provides a baseline for the project, but its age and the inability to verify drill core due to destruction reduce its current reliability and confidence. - Positive factor: Indicated resource category provides a reasonable level of geological confidence. - Positive factor: Copper grade of 0.83% is moderate for a VMS deposit. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · table > 70 Context: 3,836 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **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 7.3 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-2) Knife Lake Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: silver - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:2caa0b3a8283a748e20a - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: indicated - Tonnes: 3836000 - Grade: 3.7 - Grade Unit: g/t - Contained Metal: 456 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 1.02 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical indicated resource provides a baseline for the project, but its age and the inability to verify drill core due to destruction reduce its current reliability and confidence. - Positive factor: Silver grade of 3.7 g/t contributes to the overall metal value. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · table > 3.7 Context: 3,836 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **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 7.3 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-3) Knife Lake Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: gold - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:2caa0b3a8283a748e20a - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: indicated - Tonnes: 3836000 - Grade: 0.097 - Grade Unit: g/t - Contained Metal: 11951 - Contained Unit: oz - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 1.02 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical indicated resource provides a baseline for the project, but its age and the inability to verify drill core due to destruction reduce its current reliability and confidence. - Positive factor: Gold grade of 0.097 g/t contributes to the overall metal value. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · table > 0.097 Context: 3,836 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **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 7.3 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-4) Knife Lake Project · cobalt Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: cobalt - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:2caa0b3a8283a748e20a - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: indicated - Tonnes: 3836000 - Grade: 82 - Grade Unit: ppm - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 1.02 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical indicated resource provides a baseline for the project, but its age and the inability to verify drill core due to destruction reduce its current reliability and confidence. - Positive factor: Cobalt grade of 82.0 ppm contributes to the overall metal value. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · table > 82.0 Context: 3,836 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **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 **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 7.3 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-5) Knife Lake Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: zinc - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:2caa0b3a8283a748e20a - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: indicated - Tonnes: 3836000 - Grade: 1740.7 - Grade Unit: ppm - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 1.02 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical indicated resource provides a baseline for the project, but its age and the inability to verify drill core due to destruction reduce its current reliability and confidence. - Positive factor: Zinc grade of 1,740.7 ppm contributes to the overall metal value. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. Evidence · table > 1,740.7 Context: 3,836 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **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 **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 7.3 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-6) Knife Lake Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: copper - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:afca040133c395128569 - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: inferred - Tonnes: 7902000 - Grade: 92 - Grade Unit: mlbs - Contained Metal: 92 - Contained Unit: mlbs - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 0.67 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical inferred resource highlights significant potential but carries high geological risk due to its category, age, and the inability to verify drill core. - Positive factor: Inferred resource category indicates potential for future conversion to higher confidence categories. - Positive factor: Copper grade of 0.53% is reasonable for a VMS deposit. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone. Evidence · table > 92 Context: 7,902 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **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 7.3 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-7) Knife Lake Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: silver - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:afca040133c395128569 - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: inferred - Tonnes: 7902000 - Grade: 2.4 - Grade Unit: g/t - Contained Metal: 610 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 0.67 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical inferred resource highlights significant potential but carries high geological risk due to its category, age, and the inability to verify drill core due to destruction. - Positive factor: Silver grade of 2.4 g/t contributes to the overall metal value. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone. Evidence · table > 2.4 Context: 7,902 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **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 7.3 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-8) Knife Lake Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: gold - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:afca040133c395128569 - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: inferred - Tonnes: 7902000 - Grade: 0.084 - Grade Unit: g/t - Contained Metal: 21340 - Contained Unit: oz - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 0.67 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical inferred resource highlights significant potential but carries high geological risk due to its category, age, and the inability to verify drill core due to destruction. - Positive factor: Gold grade of 0.084 g/t contributes to the overall metal value. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone. Evidence · table > 0.084 Context: 7,902 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **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 7.3 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-9) Knife Lake Project · cobalt Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: cobalt - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:afca040133c395128569 - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: inferred - Tonnes: 7902000 - Grade: 53.1 - Grade Unit: ppm - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 0.67 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical inferred resource highlights significant potential but carries high geological risk due to its category, age, and the inability to verify drill core due to destruction. - Positive factor: Cobalt grade of 53.1 ppm contributes to the overall metal value. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone. Evidence · table > 53.1 Context: 7,902 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **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 **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 7.3 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/apogee-minerals-closes-knife-lake-copper-project-option-transaction-and-files-in--b02c0cdb-5bff-4753-8192-c863b76ae59a#fact-resource-facts-10) Knife Lake Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Knife Lake Project - Commodity: zinc - Region: canada\_sk - Reported Region: Saskatchewan - Ticker: APMI #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Sue Bird - Resource group id: resource:afca040133c395128569 - Deposit or zone: Knife Lake Deposit #### Resource Data - Category: inferred - Tonnes: 7902000 - Grade: 1454.9 - Grade Unit: ppm - Cutoff Grade: 0.4 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2019-06-12 #### Metal Equivalent - Metal Eq. Grade: 0.67 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2019-09-27T00:00:00.000Z #### Dates - Event date: 2026-09-16T00:00:00.000Z Reasoning: The historical inferred resource highlights significant potential but carries high geological risk due to its category, age, and the inability to verify drill core due to destruction. - Positive factor: Zinc grade of 1,454.9 ppm contributes to the overall metal value. - Negative factor: The estimate is historical and not current, requiring verification. - Negative factor: Metal equivalent assumptions are based on 2019 prices and are not current. - Negative factor: Drill core for verification was destroyed in a forest fire. - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone. Evidence · table > 1,454.9 Context: 7,902 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **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 **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 7.3 years before this release ## 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.