# AW1: Presentation - Precious Metals Summit Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03142531 Publisher: asx Original announcement: 2026-09-22T22:21:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-22T23:08:01.819Z Atlas analysis updated: 2026-09-22T23:08:01.819Z - Company: American West Metals Limited - Ticker: AW1 - Exchange: ASX - Region: Unavailable - Primary commodity: Copper - Secondary commodities: Zinc, Indium, Silver, Gold, Gallium - Document categories: Resource update, Drill results - Extracted: 2026-09-22 23:08:02 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary American West Metals Limited presented an overview of its Storm Copper and West Desert critical metals projects, highlighting significant JORC 2012 compliant resource estimates. The Storm Copper Project boasts a total resource of 28.2 Mt at 0.98% Cu and 3.27 g/t Ag, underpinning a planned low-cost open-pit operation with secured funding. The West Desert Project features the largest undeveloped indium resource in the US, totaling 33.7 Mt at 20.01 g/t In, 3.83% Zn, 0.15% Cu, 9.08 g/t Ag, and 0.10 g/t Au, with ongoing exploration continuing to deliver high-grade intercepts for multiple commodities. Reasoning: The presentation highlights a robust and growing resource base for copper and critical metals across two projects, supported by JORC compliant estimates and ongoing high-grade exploration success. Strategic funding and a clear development pathway for Storm Copper are significant positives, while the historical nature of the Seal Zinc resource is a minor detractor. - Positive factor: Significant copper and critical metals resource base across two key projects \(Storm and West Desert\) - Positive factor: Storm Copper Project MRE shows substantial indicated and inferred resources, forming the basis for a low-cost open-pit operation - Positive factor: West Desert Project hosts the largest undeveloped indium resource in the US, along with significant zinc, copper, silver, and gold - Positive factor: Both projects have JORC 2012 compliant resource estimates signed by Competent Persons - Positive factor: Ongoing exploration at both projects continues to yield high-grade drill intercepts, indicating strong growth potential - Positive factor: Strategic alliance and funding secured for Storm Copper Project de-risks execution and provides capital for development - Negative factor: Seal Zinc Project resource is historical and not JORC 2012 compliant, requiring further work for classification - Negative factor: Some drill results presented are historical, reducing their novelty Facts used in scoring: 52 ## Classification and evidence **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Storm Copper Project and West Desert Project resource estimates are explicitly stated to be in accordance with the JORC Code 2012. Evidence · text > The Mineral Resources underpinning the production target in the PEA have been prepared by a Competent Person in accordance with the requirements of the Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves \(JORC Code 2012\). **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Competent Persons are named and have signed off on the Storm Copper Project and West Desert Project resource estimates. Evidence · text > The Mineral Resources underpinning the production target in the PEA have been prepared by a Competent Person in accordance with the requirements of the Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves \(JORC Code 2012\). The Competent Persons Statements are found in the Geology and Resources section of this Study. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document presents updated resource estimates for the Storm Copper Project and West Desert Project. Evidence · text > For full details of the Mineral Resource Estimate for the Storm Copper Project, including JORC Table 1, please refer to ASX announcement dated 16 December 2024: Significant Growth for Storm MRE. **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The document refers to 'Significant Growth for Storm MRE' and 'Storm Copper MRE Continues to Grow', implying tonnage growth for the Storm project. Evidence · text > Significant Growth for Storm MRE **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: Drill hole SR23-089 at Storm Copper Project returned 22.9m @ 8.5% Cu, which is an exceptionally high-grade copper intercept. Evidence · text > 22.9m @ 8.5% Cu **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: Drill hole WD22-01 at West Desert Project returned 2.1m @ 56.6g/t In, which is an exceptionally high-grade indium intercept. Evidence · text > 2.1m @ 3.1% Cu, 1.4g/t Au, 5.6g/t Ag, 56.6g/t In **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: Drill hole WD22-19 at West Desert Project returned 4.58m @ 88.05g/t In, which is an exceptionally high-grade indium intercept. Evidence · text > 4.58m @ 88.05g/t In **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 Seal Zinc Project resource is explicitly stated as historical and reported under Canadian NI 43-101, not JORC 2012. Evidence · text > The estimates of minerals resources referred to in this presentation in regard to the Seal Zinc Project are historical and foreign in nature and are reported in accordance with Canadian NI 43-101 Standards and not in accordance with the 2012 JORC Code. **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: For the Seal Zinc Project, it is stated that 'A competent person has not done sufficient work to classify these estimates as mineral resources or ore reserves in accordance with the 2012 JORC Code.' Evidence · text > A competent person has not done sufficient work to classify these estimates as mineral resources or ore reserves in accordance with the 2012 JORC Code. **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the Storm Copper Project and West Desert Project resources are in the Inferred category, and the entire Seal Zinc Project resource is Inferred. Evidence · text > Inferred 12.3 0.78 2.85 96,300 1,124,500 **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Drill hole WD26-01 at West Desert intersected significant mineralization 400m east of West Desert, indicating an extension of the known mineralization. Evidence · text > First drill hole of 2026 WD26-01 intersected 105m @ 25g/t In over 400m east of West Desert with <10% of project area explored ## Extracted facts Stored fact records: 52. Some facts used in scoring do not have a stored record. ## Drill Results (8) ### SR24-108 [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-drill-facts-41) Storm · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: SR24-108 - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: AW1 #### Geometry - Grade: 2.4 - Grade Unit: % - Intercept: 1.5 m #### Classification - Sample Type: drill #### Location - Location: Squall - Loc. Source: document #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2024-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This drill intercept shows an exceptional copper grade, but its narrow width limits its overall materiality. - Positive factor: Exceptional copper grade - Negative factor: Narrow intercept length Evidence · text > 1.5m @ 2.4% 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 ### SR24-108 [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-drill-facts-42) Storm · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: SR24-108 - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: canada\_nu - Ticker: AW1 #### Geometry - Grade: 5 - Grade Unit: g/t - Intercept: 1.5 m #### Classification - Sample Type: drill #### Location - Location: Squall - Loc. Source: document #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2024-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This drill intercept includes silver credits, but its narrow width limits its overall materiality. - Positive factor: Adds byproduct silver credits - Negative factor: Narrow intercept length Evidence · text > 5.0g/t Ag #### 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 ### WD22-19 [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-drill-facts-43) West Desert · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: WD22-19 - Project: West Desert - Commodity: copper - Region: usa\_ut - Reported Region: usa\_ut - Ticker: AW1 #### Geometry - Grade: 0.46 - Grade Unit: % - Intercept: 4.58 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This drill intercept includes copper credits, contributing to the polymetallic nature of the West Desert Project. - Positive factor: Adds byproduct copper credits - Negative factor: Narrow intercept length Evidence · text > 0.46% 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 ### WD26-01 [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-drill-facts-44) West Desert · gold #### Identity - Hole ID: WD26-01 - Project: West Desert - Commodity: gold - Region: usa\_ut - Reported Region: usa\_ut - Ticker: AW1 #### Geometry - Grade: 0.34 - Grade Unit: g/t - Intercept: 108.4 m #### Classification - Sample Type: drill #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This drill intercept includes gold credits over a significant width, adding to the polymetallic nature of the new discovery at West Desert. - Positive factor: Adds byproduct gold credits - Positive factor: Significant intercept length - Positive factor: New discovery outside of existing resource Evidence · text > 0.34g/t Au #### 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 ### WD22-19 [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-drill-facts-45) West Desert · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: WD22-19 - Project: West Desert - Commodity: silver - Region: usa\_ut - Reported Region: usa\_ut - Ticker: AW1 #### Geometry - Grade: 18.68 - Grade Unit: g/t - Intercept: 4.58 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This drill intercept includes a strong silver grade, enhancing the byproduct potential at West Desert. - Positive factor: Strong silver grade as a byproduct - Negative factor: Narrow intercept length Evidence · text > 18.68g/t Ag #### 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 ### WD22-19 [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-drill-facts-46) West Desert · indium Historical result Needs review: historical\_restatement #### Identity - Hole ID: WD22-19 - Project: West Desert - Commodity: indium - Region: usa\_ut - Reported Region: usa\_ut - Ticker: AW1 #### Geometry - Grade: 88.05 - Grade Unit: g/t - Intercept: 4.58 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This drill intercept shows an exceptional indium grade, further solidifying West Desert's importance as a critical metals project. - Positive factor: Exceptional indium grade, a critical metal - Negative factor: Narrow intercept length Evidence · text > 4.58m @ 88.05g/t In #### 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 ### WD22-01c [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-drill-facts-47) West Desert · gallium Historical result Needs review: historical\_restatement #### Identity - Hole ID: WD22-01c - Project: West Desert - Commodity: gallium - Region: usa\_ut - Reported Region: usa\_ut - Ticker: AW1 #### Geometry - Grade: 67.7 - Grade Unit: g/t - Intercept: 3.5 m - From: 421.2 m - To: 424.7 m - Hole Depth: 418 m - Intercept Depth: 421.2 m #### Classification - Sample Type: drill - Group ID: WD22-01c:421.2-424.7 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This drill intercept shows a strong gallium grade, further diversifying the critical metals potential at West Desert. - Positive factor: Strong gallium grade, a critical metal - Negative factor: Narrow intercept length Evidence · text > 67.7g/t Ga #### 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 ### WD22-19 [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-drill-facts-48) West Desert · zinc Historical result Needs review: historical\_restatement #### Identity - Hole ID: WD22-19 - Project: West Desert - Commodity: zinc - Region: usa\_ut - Reported Region: usa\_ut - Ticker: AW1 #### Geometry - Grade: 5.21 - Grade Unit: % - Intercept: 4.58 m #### Classification - Sample Type: drill #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2022-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This drill intercept shows an exceptional zinc grade, indicating high-grade mineralization potential at West Desert. - Positive factor: Exceptional zinc grade - Negative factor: Narrow intercept length Evidence · text > 5.21% Zn #### 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 ## Resource Estimates (44) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-0) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:509cf723e46924d64e77 - Deposit or zone: Cyclone - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12400000 - Grade: 136500 - Grade Unit: tonnes - Contained Metal: 136500 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This indicated resource for copper at Cyclone is a substantial and high-confidence component of the overall Storm Copper Project, contributing significantly to its economic potential. - Positive factor: Significant indicated tonnage and grade for copper - Positive factor: JORC 2012 compliant and QP signed - Positive factor: Forms a key part of the Storm Copper Project's resource base Evidence · table > 136,500 Context: 12.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-1) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:509cf723e46924d64e77 - Deposit or zone: Cyclone - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12400000 - Grade: 1527000 - Grade Unit: ounces - Contained Metal: 1527000 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This indicated silver resource at Cyclone provides valuable byproduct credits to the Storm Copper Project, enhancing overall project economics. - Positive factor: Significant contained silver as a byproduct - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 1,527,000 Context: 12.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-2) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:b7fc6462369129207d51 - Deposit or zone: Cyclone - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4500000 - Grade: 43300 - Grade Unit: tonnes - Contained Metal: 43300 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred copper resource at Cyclone contributes to the project's overall scale, but its lower confidence category means further drilling is required for de-risking. - Positive factor: Adds to the overall copper resource base - Positive factor: Potential for future upgrade to higher confidence categories - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 43,300 Context: 4.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-3) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:b7fc6462369129207d51 - Deposit or zone: Cyclone - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4500000 - Grade: 575000 - Grade Unit: ounces - Contained Metal: 575000 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred silver resource at Cyclone provides additional byproduct potential, but its lower confidence category requires further work. - Positive factor: Adds to byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 575,000 Context: 4.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-4) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:fd757d294c1cb0062044 - Deposit or zone: Chinook - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 16900 - Grade Unit: tonnes - Contained Metal: 16900 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The indicated copper resource at Chinook, with its high grade, is a valuable component of the Storm Copper Project's overall resource base. - Positive factor: High copper grade for an indicated resource - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 16,900 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-5) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:fd757d294c1cb0062044 - Deposit or zone: Chinook - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 127800 - Grade Unit: ounces - Contained Metal: 127800 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The indicated silver resource at Chinook adds to the byproduct potential of the Storm Copper Project. - Positive factor: Provides byproduct silver credits Evidence · table > 127,800 Context: 1.0 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-6) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:f943ae2ceb27d36e6dcc - Deposit or zone: Chinook - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 8800 - Grade Unit: tonnes - Contained Metal: 4000 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred copper resource at Chinook contributes to the project's total, but its lower confidence category indicates a need for further definition. - Positive factor: Adds to the overall copper resource base - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 8,800 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 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-7) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:f943ae2ceb27d36e6dcc - Deposit or zone: Chinook - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 112600 - Grade Unit: ounces - Contained Metal: 59600 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred silver resource at Chinook offers additional byproduct potential, but its lower confidence requires further work. - Positive factor: Adds to byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 112,600 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 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-8) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:9f68e3eaca4cacb2740c - Deposit or zone: Corona - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 11200 - Grade Unit: tonnes - Contained Metal: 11200 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The indicated copper resource at Corona is a solid contribution to the Storm Copper Project's overall resource, providing confidence for development. - Positive factor: Contributes to the indicated copper resource base - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 11,200 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-9) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:9f68e3eaca4cacb2740c - Deposit or zone: Corona - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1200000 - Grade: 112100 - Grade Unit: ounces - Contained Metal: 112100 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The indicated silver resource at Corona provides additional byproduct credits for the Storm Copper Project. - Positive factor: Adds to byproduct silver potential Evidence · table > 112,100 Context: 1.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-10) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:9848d8523522bb3a1f41 - Deposit or zone: Corona - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1400000 - Grade: 8900 - Grade Unit: tonnes - Contained Metal: 8900 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred copper resource at Corona adds to the project's total, but its lower confidence category indicates a need for further definition. - Positive factor: Contributes to the overall copper resource base - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 8,900 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-11) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:9848d8523522bb3a1f41 - Deposit or zone: Corona - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1400000 - Grade: 87500 - Grade Unit: ounces - Contained Metal: 87500 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred silver resource at Corona provides additional byproduct potential, but its lower confidence requires further work. - Positive factor: Adds to byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 87,500 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-12) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:0d67c75d246af61adb2c - Deposit or zone: Thunder - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1300000 - Grade: 15300 - Grade Unit: tonnes - Contained Metal: 15300 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The indicated copper resource at Thunder is a valuable contribution to the Storm Copper Project, providing confidence for future development. - Positive factor: Good copper grade for an indicated resource - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 15,300 Context: 1.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-13) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:0d67c75d246af61adb2c - Deposit or zone: Thunder - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1300000 - Grade: 73600 - Grade Unit: ounces - Contained Metal: 73600 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The indicated silver resource at Thunder adds to the byproduct potential of the Storm Copper Project. - Positive factor: Provides byproduct silver credits Evidence · table > 73,600 Context: 1.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-14) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:ec386861fc1d732d224a - Deposit or zone: Thunder - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1500000 - Grade: 8600 - Grade Unit: tonnes - Contained Metal: 8600 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred copper resource at Thunder adds to the project's total, but its lower confidence category indicates a need for further definition. - Positive factor: Contributes to the overall copper resource base - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 8,600 Context: 1.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-15) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:ec386861fc1d732d224a - Deposit or zone: Thunder - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1500000 - Grade: 60000 - Grade Unit: ounces - Contained Metal: 60000 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred silver resource at Thunder provides additional byproduct potential, but its lower confidence requires further work. - Positive factor: Adds to byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 60,000 Context: 1.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-16) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:d4a008257acb7175bdad - Deposit or zone: Cirrus - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2700000 - Grade: 16700 - Grade Unit: tonnes - Contained Metal: 16700 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred copper resource at Cirrus adds to the project's total, but its lower confidence category indicates a need for further definition. - Positive factor: Contributes to the overall copper resource base - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 16,700 Context: 2.7 #### 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 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-17) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:d4a008257acb7175bdad - Deposit or zone: Cirrus - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 2700000 - Grade: 122300 - Grade Unit: ounces - Contained Metal: 122300 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred silver resource at Cirrus provides additional byproduct potential, but its lower confidence requires further work. - Positive factor: Adds to byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 122,300 Context: 2.7 #### 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 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-18) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:151d7bc3a53512119d78 - Deposit or zone: LR - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 800000 - Grade: 5900 - Grade Unit: tonnes - Contained Metal: 5900 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred copper resource at LR adds to the project's total, but its lower confidence category indicates a need for further definition. - Positive factor: Contributes to the overall copper resource base - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 5,900 Context: 0.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-19) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:151d7bc3a53512119d78 - Deposit or zone: LR - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 800000 - Grade: 107400 - Grade Unit: ounces - Contained Metal: 107400 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred silver resource at LR provides additional byproduct potential, but its lower confidence requires further work. - Positive factor: Adds to byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 107,400 Context: 0.8 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-20) Storm Copper Project · copper #### Identity - Project: Storm Copper Project - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:73c6f07ccbcac32cfa6c - Deposit or zone: Gap - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 1.26 - Grade Unit: % - Contained Metal: 8800 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred copper resource at Gap, with its good grade, adds to the project's total, but its lower confidence category indicates a need for further definition. - Positive factor: Good copper grade for an inferred resource - Positive factor: Contributes to the overall copper resource base - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 1.26 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 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-21) Storm Copper Project · silver #### Identity - Project: Storm Copper Project - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:73c6f07ccbcac32cfa6c - Deposit or zone: Gap - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 700000 - Grade: 4.99 - Grade Unit: g/t - Contained Metal: 112600 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred silver resource at Gap provides additional byproduct potential, but its lower confidence requires further work. - Positive factor: Adds to byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 4.99 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 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-22) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:30fd67938617eaaf384b - Deposit or zone: IND Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 15900000 - Grade: 179900 - Grade Unit: tonnes - Contained Metal: 179900 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total indicated copper resource for Storm is a strong foundation for the project, demonstrating high confidence in a substantial portion of the resource. - Positive factor: Significant indicated copper resource, providing high confidence for development - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 179,900 Context: 15.9 #### 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 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-23) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:30fd67938617eaaf384b - Deposit or zone: IND Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 15900000 - Grade: 1840500 - Grade Unit: ounces - Contained Metal: 1840500 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total indicated silver resource for Storm significantly enhances the project's economic viability through byproduct credits. - Positive factor: Substantial indicated silver resource, providing valuable byproduct credits Evidence · table > 1,840,500 Context: 15.9 #### 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 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-24) Storm · copper #### Identity - Project: Storm - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:06017c75aa99036af326 - Deposit or zone: INF Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12300000 - Grade: 96300 - Grade Unit: tonnes - Contained Metal: 96300 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total inferred copper resource for Storm provides substantial upside potential, but its lower confidence category means further drilling is required for de-risking. - Positive factor: Adds significant tonnage to the overall copper resource base - Positive factor: Potential for future upgrade to higher confidence categories - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 96,300 Context: 12.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-25) Storm · silver #### Identity - Project: Storm - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:06017c75aa99036af326 - Deposit or zone: INF Total - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 12300000 - Grade: 1124500 - Grade Unit: ounces - Contained Metal: 1124500 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total inferred silver resource for Storm provides additional byproduct potential, but its lower confidence requires further work. - Positive factor: Adds significant byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 1,124,500 Context: 12.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-26) Storm Copper Project · copper #### Identity - Project: Storm Copper Project - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:82b04180bd00cae0cb37 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 28200000 - Grade: 0.98 - Grade Unit: % - Contained Metal: 276100 - Contained Unit: t - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total copper resource for Storm is a highly material asset, providing a robust foundation for the project's development plans. - Positive factor: Large total copper resource, forming a strong basis for development - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 0.98 Context: 28.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-27) Storm Copper Project · silver #### Identity - Project: Storm Copper Project - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Kevin Hon, Christopher Livingstone, Warren Black, Steve Nicholls - Resource group id: resource:82b04180bd00cae0cb37 - Deposit or zone: Total - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 28200000 - Grade: 3.27 - Grade Unit: g/t - Contained Metal: 2965100 - Contained Unit: oz - Cutoff Grade: 0.25 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2024-12-16 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total silver resource for Storm significantly enhances the project's economic viability through substantial byproduct credits. - Positive factor: Significant total silver resource, providing valuable byproduct credits Evidence · table > 3.27 Context: 28.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-28) West Desert Project · zinc #### Identity - Project: West Desert Project - Commodity: zinc - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:76bf4ff4f632b4365f65 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 27400000 - Grade: 1037278 - Grade Unit: tonnes - Contained Metal: 1037278 - Contained Unit: t - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This indicated zinc resource is a substantial and high-confidence component of the West Desert Project, contributing significantly to its critical metals profile. - Positive factor: Significant indicated zinc resource, providing high confidence for development - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 1,037,278 Context: 27.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 **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 2.8 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-29) West Desert Project · copper #### Identity - Project: West Desert Project - Commodity: copper - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:76bf4ff4f632b4365f65 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 27400000 - Grade: 40588 - Grade Unit: tonnes - Contained Metal: 40588 - Contained Unit: t - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This indicated copper resource adds to the polymetallic nature of the West Desert Project, providing additional value. - Positive factor: Contributes to the overall copper resource base - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 40,588 Context: 27.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 **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 2.8 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-30) West Desert Project · silver #### Identity - Project: West Desert Project - Commodity: silver - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:76bf4ff4f632b4365f65 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 27400000 - Grade: 8376494 - Grade Unit: ounces - Contained Metal: 8376494 - Contained Unit: oz - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This indicated silver resource significantly enhances the economic viability of the West Desert Project through substantial byproduct credits. - Positive factor: Significant indicated silver resource, providing valuable byproduct credits Evidence · table > 8,376,494 Context: 27.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 **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 2.8 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-31) West Desert Project · zinc #### Identity - Project: West Desert Project - Commodity: zinc - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:af41698eabb090644dbb - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6300000 - Grade: 253626 - Grade Unit: tonnes - Contained Metal: 253626 - Contained Unit: t - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred zinc resource for West Desert provides substantial upside potential, but its lower confidence category means further drilling is required for de-risking. - Positive factor: Adds significant tonnage to the overall zinc resource base - Positive factor: Potential for future upgrade to higher confidence categories - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 253,626 Context: 6.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 **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 2.8 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-32) West Desert Project · copper #### Identity - Project: West Desert Project - Commodity: copper - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:af41698eabb090644dbb - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6300000 - Grade: 8465 - Grade Unit: tonnes - Contained Metal: 8465 - Contained Unit: t - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred copper resource adds to the polymetallic nature of the West Desert Project, but its lower confidence requires further work. - Positive factor: Adds to the overall copper resource base - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 8,465 Context: 6.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 **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 2.8 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-33) West Desert Project · silver #### Identity - Project: West Desert Project - Commodity: silver - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:af41698eabb090644dbb - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 6300000 - Grade: 1440285 - Grade Unit: ounces - Contained Metal: 1440285 - Contained Unit: oz - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The inferred silver resource provides additional byproduct potential for West Desert, but its lower confidence requires further work. - Positive factor: Adds significant byproduct silver potential - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 1,440,285 Context: 6.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off 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 **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 2.8 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-34) West Desert Project · zinc #### Identity - Project: West Desert Project - Commodity: zinc - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:6ff704395e13296ad393 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 33700000 - Grade: 3.83 - Grade Unit: % - Contained Metal: 1290904 - Contained Unit: t - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total zinc resource for West Desert is a highly material asset, providing a robust foundation for the project's critical metals development plans. - Positive factor: Large total zinc resource, forming a strong basis for development - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 3.83 Context: 33.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 **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 2.8 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-35) West Desert Project · copper #### Identity - Project: West Desert Project - Commodity: copper - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:6ff704395e13296ad393 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 33700000 - Grade: 0.15 - Grade Unit: % - Contained Metal: 49053 - Contained Unit: t - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total copper resource for West Desert is a valuable component of the polymetallic project, enhancing its overall economic potential. - Positive factor: Significant total copper resource, adding to project value - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 0.15 Context: 33.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 **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 2.8 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-36) West Desert Project · silver #### Identity - Project: West Desert Project - Commodity: silver - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:6ff704395e13296ad393 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 33700000 - Grade: 9.08 - Grade Unit: g/t - Contained Metal: 9816779 - Contained Unit: oz - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The total silver resource for West Desert significantly enhances the project's economic viability through substantial byproduct credits. - Positive factor: Significant total silver resource, providing valuable byproduct credits - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 9.08 Context: 33.7 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off 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 **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 2.8 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-37) West Desert Project · indium #### Identity - Project: West Desert Project - Commodity: indium - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:92651e3305f88b4391bf - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 33700000 - Grade: 20.01 - Grade Unit: g/t - Contained Metal: 23763978 - Contained Unit: oz - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The West Desert Project hosts a world-class indium resource, positioning the company as a key player in the critical metals sector, with high materiality. - Positive factor: Largest undeveloped indium resource in the US, a critical metal - Positive factor: Significant contained indium ounces - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 20.01 Context: 33.7 #### 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 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 **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 2.8 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-38) West Desert Project · gold #### Identity - Project: West Desert Project - Commodity: gold - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:92651e3305f88b4391bf - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 33700000 - Grade: 118761 - Grade Unit: ounces - Contained Metal: 118761 - Contained Unit: oz - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This gold resource provides additional value to the polymetallic West Desert Project, enhancing its overall economic potential. - Positive factor: Adds to the overall gold resource base - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 118,761 Context: 33.7 #### 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 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 **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 2.8 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-39) Seal Zinc Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Seal Zinc Project - Commodity: zinc - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: No - Resource group id: resource:ecedab958da368399d64 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1000000 - Grade: 10.2 - Grade Unit: % #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-10-21T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Seal Zinc Project shows promising historical zinc grades, but its non-JORC compliant and historical nature means it cannot be relied upon for current resource classification without further work. - Positive factor: Indicates potential for a high-grade zinc resource - Negative factor: Historical estimate, not JORC 2012 compliant - Negative factor: No Competent Person has done sufficient work to classify as JORC resource Evidence · text > Inferred resource of 1Mt @ 10.2% Zn, 46.5g/t Ag #### 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 **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 **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 4.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-40) Seal Zinc Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Seal Zinc Project - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: No - Resource group id: resource:ecedab958da368399d64 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1000000 - Grade: 46.5 - Grade Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2021-10-21T00:00:00.000Z #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Seal Zinc Project shows promising historical silver grades, but its non-JORC compliant and historical nature means it cannot be relied upon for current resource classification without further work. - Positive factor: Indicates potential for significant byproduct silver - Negative factor: Historical estimate, not JORC 2012 compliant - Negative factor: No Competent Person has done sufficient work to classify as JORC resource Evidence · text > Inferred resource of 1Mt @ 10.2% Zn, 46.5g/t Ag #### 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 **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 **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 4.9 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-49) West Desert Project · zinc #### Identity - Project: West Desert Project - Commodity: zinc - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:92651e3305f88b4391bf - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 33700000 - Grade: 1290904 - Grade Unit: tonnes - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The West Desert Project hosts a world-class indium resource, positioning the company as a key player in the critical metals sector, with high materiality. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Largest undeveloped indium resource in the US, a critical metal - Positive factor: Significant contained indium ounces - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 1,290,904 Context: 33.7 #### 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 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 **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 2.8 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-50) West Desert Project · copper #### Identity - Project: West Desert Project - Commodity: copper - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:92651e3305f88b4391bf - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 33700000 - Grade: 49053 - Grade Unit: tonnes - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The West Desert Project hosts a world-class indium resource, positioning the company as a key player in the critical metals sector, with high materiality. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Largest undeveloped indium resource in the US, a critical metal - Positive factor: Significant contained indium ounces - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 49,053 Context: 33.7 #### 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 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 **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 2.8 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/aw1-presentation-precious-metals-summit--2a1722b8-da31-4b02-a52a-d9fa66a3b113#fact-resource-facts-51) West Desert Project · silver #### Identity - Project: West Desert Project - Commodity: silver - Region: usa\_ut - Reported Region: Utah, USA - Ticker: AW1 #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Allan Schappert - Resource group id: resource:92651e3305f88b4391bf - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 33700000 - Grade: 9816779 - Grade Unit: ounces - Cutoff Grade: 3.5 - Cutoff Unit: % Zn equivalent #### Prior Estimate - Resource Date: 2023-12-13 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The West Desert Project hosts a world-class indium resource, positioning the company as a key player in the critical metals sector, with high materiality. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Largest undeveloped indium resource in the US, a critical metal - Positive factor: Significant contained indium ounces - Positive factor: JORC 2012 compliant and QP signed Evidence · table > 9,816,779 Context: 33.7 #### 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 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 **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 2.8 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.