# PAN AMERICAN SILVER CORP - EX-99.1 \(2026-09-17\) Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b Original source: https://www.sec.gov/Archives/edgar/data/771992/000077199226000065/nr2026reservesupdate.htm Publisher: sec\_edgar Original announcement: 2026-09-17T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-01T07:31:13.204Z Atlas analysis updated: 2026-10-01T07:31:13.204Z - Company: Pan American Silver Corp. - Ticker: PAAS - Exchange: NYSE - Region: Unavailable - Primary commodity: Silver - Secondary commodities: Gold, Zinc, Lead, Copper - Document categories: Resource update - Extracted: 2026-10-01 07:31:13 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Pan American Silver Corp. announced its updated mineral reserves and resources as of June 30, 2026, reporting significant growth in both silver and gold. Proven and Probable reserves now stand at 511.1 million ounces of silver and 6.3 million ounces of gold, with silver reserves replacing over 100% of depletion. This growth was primarily driven by the inclusion of the 44% interest in Juanicipio and exploration success across several key projects, although divestments led to a decrease in total gold resources. Reasoning: Pan American Silver reported a substantial increase in its mineral reserves and resources, driven by successful exploration programs and the integration of the Juanicipio acquisition, despite a reduction in total gold resources from divestments. - Positive factor: Significant reserve growth - Positive factor: Silver replacement exceeding 100% - Positive factor: Inclusion of Juanicipio acquisition - Positive factor: Exploration success at multiple projects - Positive factor: High reporting standards \(NI 43-101, JORC\) - Positive factor: QP/CP sign-off - Negative factor: Decrease in total gold resources due to divestments - Negative factor: Inclusion of blending material at zero grade in Shahuindo reserves Facts used in scoring: 139 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 139. Some facts used in scoring do not have a stored record. ## Resource Estimates (139) ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-0) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6676cb8c333508c1a681 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 3600000 - Grade: 325 - Grade Unit: g/t - Contained Metal: 37.3 - Contained Unit: moz #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 325 Context: 3.6 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: Reported as Proven Reserves in the table. Evidence · table > Proven Context: 3.6 **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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-1) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6676cb8c333508c1a681 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 3600000 - Grade: 0.23 - Grade Unit: g/t - Contained Metal: 26 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Gold Reserve at La Colorada. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.23 Context: 3.6 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: Reported as Proven Reserves in the table. Evidence · table > Proven Context: 3.6 **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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-2) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:2872e776f85e12329af8 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 7000000 - Grade: 252 - Grade Unit: g/t - Contained Metal: 56.9 - Contained Unit: moz #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 252 Context: 7.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-3) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d1ebd8925920ebed3c28 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 13200000 - Grade: 288 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 288 Context: 13.2 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-4) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d1ebd8925920ebed3c28 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 13200000 - Grade: 0.36 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.36 Context: 13.2 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-5) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:92f3e098e07959d82552 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 44000000 - Grade: 252 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 252 Context: 44.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-6) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:92f3e098e07959d82552 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 44000000 - Grade: 0.55 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 0.55 Context: 44.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-7) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:547530a9877abfa17e52 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 56400000 - Grade: 9 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 9 Context: 56.4 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-8) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:547530a9877abfa17e52 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 56400000 - Grade: 1.04 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.04 Context: 56.4 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-9) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:baa498f482f2d98dc119 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 90700000 - Grade: 6 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 6 Context: 90.7 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-10) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:baa498f482f2d98dc119 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 90700000 - Grade: 1.2 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 1.20 Context: 90.7 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-11) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:f5ffbe1083b068e35ba2 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 204400000 - Grade: 78 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 78 Context: 204.4 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-12) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:f5ffbe1083b068e35ba2 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 204400000 - Grade: 0.96 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 0.96 Context: 204.4 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-13) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:1cc4c8825e043d547840 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 20800000 - Grade: 157 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 157 Context: 20.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-14) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:1cc4c8825e043d547840 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 20800000 - Grade: 0.11 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.11 Context: 20.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-15) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:57af80bdf37d73e10674 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 426300000 - Grade: 73 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 73 Context: 426.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-16) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:57af80bdf37d73e10674 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 426300000 - Grade: 0.02 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.02 Context: 426.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-17) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:8f79208b341fe24fd365 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 65700000 - Grade: 5 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 5 Context: 65.7 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-18) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:8f79208b341fe24fd365 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 65700000 - Grade: 1.37 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.37 Context: 65.7 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-19) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b4f7ed746cc04e8f7efa - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 84600000 - Grade: 6 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 6 Context: 84.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-20) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b4f7ed746cc04e8f7efa - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 84600000 - Grade: 1.56 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.56 Context: 84.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-21) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:0e7877dfc77447bdb6e2 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 597300000 - Grade: 59 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 59 Context: 597.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-22) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:0e7877dfc77447bdb6e2 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 597300000 - Grade: 0.39 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.39 Context: 597.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-23) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:8bc0d9ee32363b808c30 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 150900000 - Grade: 85 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 85 Context: 150.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-24) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:8bc0d9ee32363b808c30 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 150900000 - Grade: 0.09 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.09 Context: 150.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-25) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:91016f2ce360ea56793d - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 125200000 - Grade: 7 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 7 Context: 125.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-26) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:91016f2ce360ea56793d - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 125200000 - Grade: 1.68 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.68 Context: 125.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-27) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6ca449931da130440f3f - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 276200000 - Grade: 49 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 49 Context: 276.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-28) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6ca449931da130440f3f - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 276200000 - Grade: 0.81 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.81 Context: 276.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-29) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:2872e776f85e12329af8 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 7000000 - Grade: 0.24 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 0.24 Context: 7.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-30) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d3b551a46d7b929a9e63 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 1000000 - Grade: 169 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 169 Context: 1.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-31) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d3b551a46d7b929a9e63 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 1000000 - Grade: 4.28 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 4.28 Context: 1.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-32) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:cb3f1f3df81e3b6d235d - Mining method: underground #### Resource Data - Category: probable - Tonnes: 8199999.999999999 - Grade: 169 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 169 Context: 8.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-33) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:cb3f1f3df81e3b6d235d - Mining method: underground #### Resource Data - Category: probable - Tonnes: 8199999.999999999 - Grade: 1.41 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 1.41 Context: 8.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-34) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:aeda527671db7c9f9cd0 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 4500000 - Grade: 138 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 138 Context: 4.5 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-35) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:df424505769b8d983b94 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 5500000 - Grade: 129 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 129 Context: 5.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-36) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:067b4207cacaf1bcefab - Mining method: underground #### Resource Data - Category: proven - Tonnes: 300000 - Grade: 199 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 199 Context: 0.3 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-37) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:067b4207cacaf1bcefab - Mining method: underground #### Resource Data - Category: proven - Tonnes: 300000 - Grade: 5.27 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 5.27 Context: 0.3 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-38) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:39de7f91c2f6c5b4ea08 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 800000 - Grade: 181 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 181 Context: 0.8 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-39) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:39de7f91c2f6c5b4ea08 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 800000 - Grade: 4.31 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 4.31 Context: 0.8 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-40) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:e93e9ec9833827e6f626 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 1300000 - Grade: 243 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 243 Context: 1.3 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-41) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:fad3fcd6fa4cace6c13f - Mining method: underground #### Resource Data - Category: probable - Tonnes: 400000 - Grade: 249 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 249 Context: 0.4 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-42) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6b6a56ebee657b85e90a - Mining method: underground #### Resource Data - Category: proven - Tonnes: 2500000 - Grade: 486 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 486 Context: 2.5 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-43) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6b6a56ebee657b85e90a - Mining method: underground #### Resource Data - Category: proven - Tonnes: 2500000 - Grade: 0.42 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.42 Context: 2.5 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-44) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:4f2328f920025b413834 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 22100000 - Grade: 316 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 316 Context: 22.1 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-45) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:4f2328f920025b413834 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 22100000 - Grade: 0.34 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 0.34 Context: 22.1 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-46) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b413033d32a011f6a430 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 57200000 - Grade: 261 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 261 Context: 57.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-47) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b413033d32a011f6a430 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 57200000 - Grade: 0.51 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 0.51 Context: 57.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-48) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b93067fd65d0d2d67d0b - Mining method: underground #### Resource Data - Category: proven - Tonnes: 14100000 - Grade: 1.71 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.71 Context: 14.1 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-49) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:02f7837698ddd0f9e0b6 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 41000000 - Grade: 1.74 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 1.74 Context: 41.0 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-50) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b7df7f8945e9c9f8d9b4 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 3700000 - Grade: 2.8 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.80 Context: 3.7 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-51) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:f875e3f38d347d2fc85e - Mining method: underground #### Resource Data - Category: probable - Tonnes: 4500000 - Grade: 2.76 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 2.76 Context: 4.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-52) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6528f27d9af5b3ff8894 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 2900000 - Grade: 106 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 106 Context: 2.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-53) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6528f27d9af5b3ff8894 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 2900000 - Grade: 3.24 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 3.24 Context: 2.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-54) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:e3fb5e78a768ff376e11 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 600000 - Grade: 21 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 21 Context: 0.6 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-55) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:e3fb5e78a768ff376e11 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 600000 - Grade: 2.94 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.94 Context: 0.6 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-56) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:aee6a9b6afa9d515b646 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 2500000 - Grade: 21 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 21 Context: 2.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-57) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:aee6a9b6afa9d515b646 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 2500000 - Grade: 3 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 3.00 Context: 2.5 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-58) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:5700a797ffb76fa9b394 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 37000000 - Grade: 8 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 8 Context: 37.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-59) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:5700a797ffb76fa9b394 - Mining method: underground #### Resource Data - Category: proven - Tonnes: 37000000 - Grade: 0.48 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.48 Context: 37.0 #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-60) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:96403b758e88ee0f4a4c - Mining method: underground #### Resource Data - Category: probable - Tonnes: 39900000 - Grade: 4 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 4 Context: 39.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-61) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:96403b758e88ee0f4a4c - Mining method: underground #### Resource Data - Category: probable - Tonnes: 39900000 - Grade: 0.22 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 0.22 Context: 39.9 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-62) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:e0bc5d348dcf8eb87a02 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 147200000 - Grade: 7 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 7 Context: 147.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-63) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:e0bc5d348dcf8eb87a02 - Mining method: underground #### Resource Data - Category: probable - Tonnes: 147200000 - Grade: 1.14 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed Evidence · table > 1.14 Context: 147.2 #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-64) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a7b414a62f9dc729ceb5 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 300000 - Grade: 164 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 164 Context: 0.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-65) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a7b414a62f9dc729ceb5 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 300000 - Grade: 2.4 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.40 Context: 0.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-66) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a24731894c72dec4686e - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 700000 - Grade: 190 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 190 Context: 0.7 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-67) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a24731894c72dec4686e - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 700000 - Grade: 5.29 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 5.29 Context: 0.7 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-68) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:19e9abc67fa159c55f77 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 400000 - Grade: 566 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 566 Context: 0.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-69) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:19e9abc67fa159c55f77 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 400000 - Grade: 1.48 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.48 Context: 0.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-70) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:8d85d335eec5d56096a7 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 1400000 - Grade: 92 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 92 Context: 1.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-71) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a6777d6d93ce0d2e26f8 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 3600000 - Grade: 90 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 90 Context: 3.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-72) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:4c29278f43ff1030466b - Mining method: underground #### Resource Data - Category: measured - Tonnes: 100000 - Grade: 174 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 174 Context: 0.1 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-73) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:4c29278f43ff1030466b - Mining method: underground #### Resource Data - Category: measured - Tonnes: 100000 - Grade: 4.77 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 4.77 Context: 0.1 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-74) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:1d3a310ebdc0f16c5bb7 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 600000 - Grade: 212 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 212 Context: 0.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-75) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:1d3a310ebdc0f16c5bb7 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 600000 - Grade: 3.81 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 3.81 Context: 0.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-76) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:569d9b801539c15e07d1 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 600000 - Grade: 13 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 13 Context: 0.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-77) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:8de5a804ef4591a9b0ac - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 300000 - Grade: 170 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 170 Context: 0.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-78) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b0dce17daf7a1fc77de6 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2300000 - Grade: 251 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 251 Context: 2.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-79) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b0dce17daf7a1fc77de6 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2300000 - Grade: 0.23 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.23 Context: 2.3 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-80) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b79051a97d48d4c46a15 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 14200000 - Grade: 201 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 201 Context: 14.2 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-81) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b79051a97d48d4c46a15 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 14200000 - Grade: 0.2 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.20 Context: 14.2 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-82) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a2fa2bf335c05b16e2e1 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 265400000 - Grade: 36 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 36 Context: 265.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-83) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:ee5194996320d55bf8a4 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 15400000 - Grade: 137 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 137 Context: 15.4 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-84) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:217c54b0abc86e992f3a - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 139800000 - Grade: 126 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 126 Context: 139.8 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-85) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:977e658a0d87b6fc5f44 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 149 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 149 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-86) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:977e658a0d87b6fc5f44 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1000000 - Grade: 2.79 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.79 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-87) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:95b6953251fd2e007ea9 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 447100000 - Grade: 77 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 77 Context: 447.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-88) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:95b6953251fd2e007ea9 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 447100000 - Grade: 0.03 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.03 Context: 447.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-89) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:045bb43d78736cd84c58 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 41200000 - Grade: 1.65 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.65 Context: 41.2 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-90) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:e939e3ba66e13d9b1ec3 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 54100000 - Grade: 1.58 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.58 Context: 54.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-91) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:e92e22edeff092bbdfa5 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 2200000 - Grade: 2.29 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.29 Context: 2.2 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-92) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:5b49cb0efef76d12fc4a - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 3400000 - Grade: 2.32 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.32 Context: 3.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-93) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:f1d46e2aba99133800d9 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 1000000 - Grade: 136 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 136 Context: 1.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-94) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:f1d46e2aba99133800d9 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 1000000 - Grade: 3.97 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 3.97 Context: 1.0 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-95) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:89ef8970df23bf92de20 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 3700000 - Grade: 94 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 94 Context: 3.7 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-96) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:89ef8970df23bf92de20 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 3700000 - Grade: 2.91 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.91 Context: 3.7 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-97) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:569d9b801539c15e07d1 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 600000 - Grade: 2.61 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.61 Context: 0.6 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-98) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:278d3d1363496be0b63c - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 14 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 14 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-99) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:278d3d1363496be0b63c - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 3100000 - Grade: 2.54 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.54 Context: 3.1 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-100) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:02293ce6cf619b02bf9e - Mining method: underground #### Resource Data - Category: measured - Tonnes: 9800000 - Grade: 6 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 6 Context: 9.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-101) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:02293ce6cf619b02bf9e - Mining method: underground #### Resource Data - Category: measured - Tonnes: 9800000 - Grade: 0.35 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.35 Context: 9.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-102) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:5b43369e9d8da9735148 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6300000 - Grade: 6 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 6 Context: 6.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-103) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:5b43369e9d8da9735148 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6300000 - Grade: 0.37 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.37 Context: 6.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-104) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:cb12f53e327fcdb3925e - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 400000 - Grade: 4.52 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 4.52 Context: 0.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-105) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a0c63471b83cee570f73 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1600000 - Grade: 2.83 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.83 Context: 1.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-106) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:5adbe2be7aca06246cf8 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10800000 - Grade: 10 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 10 Context: 10.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-107) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:5adbe2be7aca06246cf8 - Mining method: underground #### Resource Data - Category: measured - Tonnes: 10800000 - Grade: 0.7 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.70 Context: 10.8 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-108) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:dac6021be2f65598c1c1 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 10600000 - Grade: 8 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 8 Context: 10.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-109) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:dac6021be2f65598c1c1 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 10600000 - Grade: 0.54 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.54 Context: 10.6 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-110) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a40963c1772d5bc7b2b6 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 150200000 - Grade: 6 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 6 Context: 150.2 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-111) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a40963c1772d5bc7b2b6 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 150200000 - Grade: 1.48 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.48 Context: 150.2 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-112) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:3559cb48b6d3d856ee93 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 24000000 - Grade: 187 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 187 Context: 24.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-113) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:3559cb48b6d3d856ee93 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 24000000 - Grade: 0.2 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.20 Context: 24.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-114) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:7e8877a5b38a8118c38c - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4800000 - Grade: 167 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 167 Context: 4.8 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-115) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:7e8877a5b38a8118c38c - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4800000 - Grade: 0.6 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.60 Context: 4.8 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-116) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:a7eb0d3abae7eb588ea5 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 9200000 - Grade: 116 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 116 Context: 9.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-117) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b82b6020e01ca7a0e0c7 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 800000 - Grade: 139 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 139 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-118) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b82b6020e01ca7a0e0c7 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 800000 - Grade: 4.95 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 4.95 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-119) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:2663688edc35d1f533fe - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 2100000 - Grade: 172 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 172 Context: 2.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-120) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d6589becec138182875c - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 1900000 - Grade: 180 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 180 Context: 1.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-121) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d6589becec138182875c - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 1900000 - Grade: 0.9 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.90 Context: 1.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-122) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:54e10dc98682defb8934 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 61700000 - Grade: 30 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 30 Context: 61.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-123) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d045d8a252625aa8e47d - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 45900000 - Grade: 81 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 81 Context: 45.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-124) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d18de0470095b43b0701 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 106 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 106 Context: 0.5 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-125) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:d18de0470095b43b0701 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 1.49 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.49 Context: 0.5 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-126) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:887ef1cc07a1160d62c7 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 56200000 - Grade: 1.65 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.65 Context: 56.2 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-127) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:b23db2df1514e48daf27 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 7000000 - Grade: 2.66 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.66 Context: 7.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-128) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:29f25947d6a3697bab2e - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 17500000 - Grade: 36 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 36 Context: 17.5 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-129) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:29f25947d6a3697bab2e - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 17500000 - Grade: 1.05 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 1.05 Context: 17.5 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-130) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6d37f351fca394fd379a - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 6400000 - Grade: 13 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 13 Context: 6.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-131) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:6d37f351fca394fd379a - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 6400000 - Grade: 2.73 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.73 Context: 6.4 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-132) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:937e99c3501a634e0db3 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 10800000 - Grade: 2 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2 Context: 10.8 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-133) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:937e99c3501a634e0db3 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 10800000 - Grade: 0.12 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.12 Context: 10.8 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-134) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:57ca5a9e0092b24d3f1b - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 2800000 - Grade: 3.73 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 3.73 Context: 2.8 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-135) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:bad6b67b60295f2cbf88 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5300000 - Grade: 6.06 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 6.06 Context: 5.3 #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-136) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:f96a8199ca53966eb6de - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5600000 - Grade: 2.24 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 2.24 Context: 5.6 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-137) La Colorada · silver #### Identity - Project: La Colorada - Commodity: silver - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:02eb8ed8e3bd0a22d4f7 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 13700000 - Grade: 8 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 8 Context: 13.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-silver-corp-ex-99-1-2026-09-17--aef9ce34-be09-4858-a523-9d030b20472b#fact-resource-facts-138) La Colorada · gold #### Identity - Project: La Colorada - Commodity: gold - Region: mexico - Reported Region: Mexico - Ticker: PAAS #### Resource scope - Estimate type: reserve - Effective date: 2025-04-30T00:00:00.000Z - Reporting standards: ni\_43\_101, jorc - QP Signed: Yes - Qualified person names: Paul Salmenmaki, Justin Glanvill, Christopher Emerson, Christopher Wright - Resource group id: resource:02eb8ed8e3bd0a22d4f7 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 13700000 - Grade: 0.51 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2026-06-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: New Proven Silver Reserve at La Colorada with significant contained metal growth. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: Contained Metal Growth - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant Evidence · table > 0.51 Context: 13.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **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 ## 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.