FLORIDA CANYON FEASIBILITY STUDY DELIVERS SUBSTANTIAL INCREASE IN MINERAL RESERVE, GOLD PRODUCTION OVER AN 8-YEAR MINE LIFE AND US$0.8 BILLION IN AFTER-TAX FREE CASH FLOW; PROVIDES OPERATIONAL UPDATE

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: The Proven and Probable Mineral Reserve increased by 74%, representing a 506 Koz Au increase, indicating significant growth in contained gold.

Category Upgradepositive

Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.

Why it applies: The Mineral Resource Estimate increased 128% in the oxide Measured and Indicated category, indicating a significant upgrade in resource confidence.

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: Multiple Qualified Persons, including James Frost, Terre Lane, and others, are listed as having reviewed and approved the scientific and technical information in accordance with NI 43-101.

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: The Technical Report and mineral estimates are prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: A significant portion of the updated Mineral Resource Estimate, including 165,879 kt at 0.65 g/t Au for 3,446 koz, is classified as Inferred.

Maiden Resourceneutral

First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The updated MRE includes a new resource estimate for the Standard Mine, which is its first formal estimate.

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document announces the results of an updated Technical Report Feasibility Study and Life-of-Mine Plan, which includes an updated Mineral Resource Estimate.

DFS-Supportingneutral

Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: The document is a Feasibility Study, which is the highest level of study to support project development decisions.

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: Cut-off grades for both mineral resources and reserves are explicitly stated in the notes.

Heap Leach Routeneutral · Story-specific tag

Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: The project utilizes conventional open-pit mining and heap-leach processing methods.

QA/QC Disclosedpositive · Story-specific tag

Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).

Why it applies: Thorough QA/QC protocols are followed, including insertion of duplicate, blank, and standard samples, with analysis by American Assay Labs.