# PNR: Annual Mineral Resource & Ore Reserve Statement Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145012 Publisher: asx Original announcement: 2026-09-28T22:09:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T18:40:24.266Z Atlas analysis updated: 2026-09-29T18:40:24.266Z - Company: Pantoro Gold Limited - Ticker: PNR - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-29 18:40:24 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Pantoro Gold Limited announced its annual Mineral Resource and Ore Reserve statement for the Norseman Project, reporting a 2% increase in total Mineral Resources to 43.1 Mt at 3.4 g/t Au for 4.7 Moz, and a 9% increase in total Ore Reserves to 13.0 Mt at 2.2 g/t Au for 0.9 Moz, both after mining depletion. Key updates include maiden Ore Reserves in the Mainfield Mining Centre and a maiden Mineral Resource at Hinemoa, with all estimates compliant with JORC 2012 standards. Reasoning: Pantoro Gold Limited reports a significant annual increase in both total Mineral Resources \(2%\) and Ore Reserves \(9%\) for its Norseman Project, even after accounting for mining depletion. This growth is driven by successful growth drilling programs, leading to maiden Ore Reserves in the Mainfield Mining Centre \(Crown and Mararoa Reefs\) and a maiden Mineral Resource at Hinemoa. The estimates are JORC 2012 compliant, indicating high confidence in the reported figures. - Positive factor: Overall Mineral Resource and Ore Reserve growth after mining depletion - Positive factor: Maiden Ore Reserves declared for Crown Reef and Mararoa Reef areas in Mainfield Mining Centre - Positive factor: Maiden Mineral Resource for Hinemoa deposit - Positive factor: Maiden Ore Reserve for Lord Percy deposit - Positive factor: Significant upgrades to Mineral Resource in key areas like Crown and Mararoa reefs - Positive factor: All estimates are JORC 2012 compliant and reviewed by Competent Persons - Negative factor: Some individual deposits show decreases in ounces after mining depletion - Negative factor: Maiden Mineral Resource and Ore Reserve for Racetrack is not expected until 2027, indicating future potential but not current results Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 103 ## Classification and evidence **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: All Mineral Resources and Ore Reserves were compiled in accordance with JORC 2012. Evidence · text > All Mineral Resources were compiled in accordance with the requirements of JORC 2012 by Pantoro geologists under the supervision and review of the Competent Person. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: All Mineral Resources and Ore Reserves were compiled under the supervision and review of the Competent Person. Evidence · text > All Mineral Resources were compiled in accordance with the requirements of JORC 2012 by Pantoro geologists under the supervision and review of the Competent Person. **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Total Mineral Resource and Ore Reserve have increased by approximately 2% and 9% respectively after mining depletion. Evidence · text > Year on year, the total Mineral Resource and Ore Reserve have increased by approximately 2% and 9% respectively after mining depletion. **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Total Mineral Resource and Ore Reserve have increased by approximately 2% and 9% respectively after mining depletion, indicating growth in contained metal. Evidence · text > Year on year, the total Mineral Resource and Ore Reserve have increased by approximately 2% and 9% respectively after mining depletion. **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: A maiden Mineral Resource at Hinemoa has been estimated. Evidence · text > A maiden Mineral Resource at Hinemoa has been estimated following additional surface drilling which is 603,000 tonnes @ 1.9 g/t for 37,000 ounces. **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: Maiden Ore Reserves have been calculated in the Crown Reef, and in the Phoenix and Butterfly areas of the Mararoa Reef. Evidence · text > Maiden Ore Reserves have been calculated in the Crown Reef, and in the Phoenix and Butterfly areas of the Mararoa Reef. **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The Ore Reserve at Maybell includes a maiden Ore Reserve for the Lord Percy deposit. Evidence · text > The Ore Reserve at Maybell includes a maiden Ore Reserve for the Lord Percy deposit. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document is an Annual Mineral Resource and Ore Reserve Statement, indicating a routine update. Evidence · text > Annual Mineral Resource and Ore Reserve Statement **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The total Mineral Resource includes 20,066 kT at 3.5 g/t Au for 2,257 kOz in the Inferred category. Evidence · table > 20,066 Context: 20,066 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: Extended zones of mineralisation remain in the Inferred category at Scotia Mining Centre. Evidence · text > Extended zones of mineralisation remain in the Inferred category and will be infill drilled in conjunction with extensional drilling during FY27 for ongoing conversion to Ore Reserves. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades are disclosed for both open pit \(0.5 – 0.70 g/t\) and underground \(2.0 g/t\) Mineral Resources. Evidence · text > All Open Pits \(0.5 – 0.70 g/t cut-off applied\), All Underground Mines \(2.0 g/t cut-off applied\). **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades are disclosed for Norseman Underground \(2.5 g/t for stoping, 1.9g/t for Scotia, 1.0 g/t for development\) and Open Pits \(0.75 - 0.85 g/t\) Ore Reserves. Evidence · text > Norseman Underground \(2.5 g/t cut-off grade applied to stoping, 1.9g/t for Scotia, 1.0 g/t cut-off grade applied to development necessarily mined to access stope block\). Open Pits \(0.75 - 0.85 g/t cut-off grade applied\). ## Extracted facts Stored fact records: 103. Some facts used in scoring do not have a stored record. ## Resource Estimates (103) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-0) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5f716ecb803067b2660a - Deposit or zone: Norseman Gold Project - Mining method: combined #### Resource Data - Category: measured - Tonnes: 5211000 - Grade: 2.2 - Grade Unit: g/t - Contained Metal: 365 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: This Measured Mineral Resource contributes to the overall project's high-confidence inventory, supporting future mine planning. - Positive factor: High confidence Measured category - Positive factor: Part of overall resource growth Evidence · table > 2.2 Context: 5,211 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-1) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b115b9d2fec15b9093ab - Deposit or zone: Norseman Gold Project - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 17878000 - Grade: 3.6 - Grade Unit: g/t - Contained Metal: 2063 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: This Indicated Mineral Resource represents a substantial portion of the project's inventory, providing a strong base for economic studies. - Positive factor: High confidence Indicated category - Positive factor: Significant contribution to overall resource growth Evidence · table > 3.6 Context: 17,878 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-2) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:48bfb2a6bd49608c2fa8 - Deposit or zone: Norseman Gold Project - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 20066000 - Grade: 3.5 - Grade Unit: g/t - Contained Metal: 2257 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The substantial Inferred Mineral Resource highlights future growth potential, though it requires further drilling to upgrade confidence. - Positive factor: Large Inferred resource indicates significant exploration upside - Positive factor: Contributes to overall resource growth Evidence · table > 3.5 Context: 20,066 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Norseman Gold Project [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-3) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:92bcc2be0891a3b1b688 - Deposit or zone: Norseman Gold Project - Mining method: combined #### Resource Data - Tonnes: 43155000 - Grade: 3.4 - Grade Unit: g/t - Contained Metal: 4685 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Mineral Resource demonstrates substantial gold endowment at the Norseman Project, showing growth year-on-year. - Positive factor: Significant total Mineral Resource - Positive factor: Overall growth after mining depletion Evidence · table > 3.4 Context: 43,155 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-4) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:43fff381e08317f86b0f - Deposit or zone: Total Underground - Mining method: combined #### Resource Data - Category: measured - Tonnes: 801000 - Grade: 9.5 - Grade Unit: g/t - Contained Metal: 246 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Measured Underground Mineral Resource provides a high-confidence, high-grade component for ongoing underground operations. - Positive factor: High-grade Measured resource for underground operations - Positive factor: Strong confidence for mine planning Evidence · table > 9.5 Context: 801 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-5) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c17713b0fe31f6fe65e6 - Deposit or zone: Total Underground - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 3715000 - Grade: 10.5 - Grade Unit: g/t - Contained Metal: 1251 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Indicated Underground Mineral Resource provides a substantial high-grade inventory for future underground development. - Positive factor: High-grade Indicated resource for underground operations - Positive factor: Good confidence for economic studies Evidence · table > 10.5 Context: 3,715 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-6) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:711fb3384798cc19d2f7 - Deposit or zone: Total Underground - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 3763000 - Grade: 8.8 - Grade Unit: g/t - Contained Metal: 1064 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Inferred Underground Mineral Resource suggests further high-grade potential, requiring additional drilling for conversion. - Positive factor: Significant Inferred resource for underground operations - Positive factor: Indicates future growth potential at depth Evidence · table > 8.8 Context: 3,763 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Total Underground [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-7) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:01bd565e390ade8dcfe7 - Deposit or zone: Total Underground - Mining method: combined #### Resource Data - Tonnes: 8279000 - Grade: 9.6 - Grade Unit: g/t - Contained Metal: 2561 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total underground Mineral Resource demonstrates a significant high-grade inventory, crucial for the project's underground operations. - Positive factor: Substantial high-grade total underground resource - Positive factor: Supports long-term underground mining plans Evidence · table > 9.6 Context: 8,279 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-8) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5028816101c808217e6e - Deposit or zone: Total Surface South - Mining method: combined #### Resource Data - Category: measured - Tonnes: 245000 - Grade: 2.5 - Grade Unit: g/t - Contained Metal: 20 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: This Measured Surface South Mineral Resource provides a high-confidence, albeit smaller, component for surface mining. - Positive factor: High confidence Measured resource for surface operations Evidence · table > 2.5 Context: 245 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-9) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:117abfe0d7d2b7c0939a - Deposit or zone: Total Surface South - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 9667000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 522 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Indicated Surface South Mineral Resource provides a substantial inventory for future surface mining operations. - Positive factor: Significant Indicated resource for surface operations - Positive factor: Good confidence for economic studies Evidence · table > 1.7 Context: 9,667 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-10) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:429488d59f29c79dd978 - Deposit or zone: Total Surface South - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 12335000 - Grade: 2.2 - Grade Unit: g/t - Contained Metal: 891 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Inferred Surface South Mineral Resource highlights further potential for surface mining, subject to additional drilling. - Positive factor: Large Inferred resource for surface operations - Positive factor: Indicates future growth potential Evidence · table > 2.2 Context: 12,335 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Total Surface South [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-11) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:271a9e1427579696eed3 - Deposit or zone: Total Surface South - Mining method: combined #### Resource Data - Tonnes: 22247000 - Grade: 2 - Grade Unit: g/t - Contained Metal: 1433 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface South Mineral Resource provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total surface resource in the South area - Positive factor: Supports long-term open pit mining plans Evidence · table > 2.0 Context: 22,247 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-12) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:e520b92ecd919d07ca37 - Deposit or zone: Total Surface North - Mining method: combined #### Resource Data - Category: measured - Tonnes: 4165000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 100 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: This Measured Surface North Mineral Resource provides a high-confidence component for surface mining, albeit at a lower grade. - Positive factor: High confidence Measured resource for surface operations Evidence · table > 0.7 Context: 4,165 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-13) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d9cc705eaf957e544fbb - Deposit or zone: Total Surface North - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 4496000 - Grade: 2 - Grade Unit: g/t - Contained Metal: 290 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Indicated Surface North Mineral Resource provides a substantial inventory for future surface mining operations. - Positive factor: Significant Indicated resource for surface operations - Positive factor: Good confidence for economic studies Evidence · table > 2.0 Context: 4,496 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-14) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b4c912b166eec488a443 - Deposit or zone: Total Surface North - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 3967000 - Grade: 2.4 - Grade Unit: g/t - Contained Metal: 302 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Inferred Surface North Mineral Resource highlights further potential for surface mining, subject to additional drilling. - Positive factor: Large Inferred resource for surface operations - Positive factor: Indicates future growth potential Evidence · table > 2.4 Context: 3,967 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Total Surface North [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-15) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d62376816cf9d5878745 - Deposit or zone: Total Surface North - Mining method: combined #### Resource Data - Tonnes: 12629000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 692 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface North Mineral Resource provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total surface resource in the North area - Positive factor: Supports long-term open pit mining plans Evidence · table > 1.7 Context: 12,629 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-16) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b161e4851a5ca81e1d44 - Deposit or zone: OK Underground - Mining method: combined - Material type: fresh #### Resource Data - Category: measured - Tonnes: 223000 - Grade: 14.8 - Grade Unit: g/t - Contained Metal: 106 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The OK Underground Measured Mineral Resource is a high-grade, high-confidence component, updated with recent data to support ongoing operations. - Positive factor: High-grade Measured resource for underground operations - Positive factor: Strong confidence for mine planning - Positive factor: Updated with recent drilling and face sampling data Evidence · table > 14.8 Context: 223 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-17) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:bc15ec1f85118e75239f - Deposit or zone: OK Underground - Mining method: combined - Material type: fresh #### Resource Data - Category: indicated - Tonnes: 354000 - Grade: 8.9 - Grade Unit: g/t - Contained Metal: 101 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The OK Underground Indicated Mineral Resource provides a substantial high-grade inventory, updated with recent data for future development. - Positive factor: High-grade Indicated resource for underground operations - Positive factor: Good confidence for economic studies - Positive factor: Updated with recent drilling and face sampling data Evidence · table > 8.9 Context: 354 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-18) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9063a7e2b00bfa1facb3 - Deposit or zone: OK Underground - Mining method: combined - Material type: fresh #### Resource Data - Category: inferred - Tonnes: 176000 - Grade: 5.5 - Grade Unit: g/t - Contained Metal: 31 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The OK Underground Inferred Mineral Resource suggests further potential, but requires additional drilling to upgrade confidence. - Positive factor: Indicates future growth potential at depth - Positive factor: Updated with recent drilling and face sampling data Evidence · table > 5.5 Context: 176 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### OK Underground [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-19) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:e3680774559769867de5 - Deposit or zone: OK Underground - Mining method: combined - Material type: fresh #### Resource Data - Tonnes: 754000 - Grade: 9.8 - Grade Unit: g/t - Contained Metal: 238 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The OK Underground Mineral Resource maintains a high-grade profile, with updates reflecting recent drilling and depletion, showing a slight decrease in ounces. - Positive factor: High-grade total underground resource for OK - Positive factor: Updated with recent drilling and face sampling data - Positive factor: Continued extension in line with mining depletion - Negative factor: Decrease of 4% in ounces after mining depletion Evidence · table > 9.8 Context: 754 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-20) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a208b4668ec140e25db1 - Deposit or zone: Mainfield Mining Centre - Mining method: combined - Material type: fresh #### Resource Data - Category: measured - Tonnes: 154000 - Grade: 11.6 - Grade Unit: g/t - Contained Metal: 57 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-02 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Measured Mineral Resource is a high-grade, high-confidence component, updated with recent data to support ongoing operations. - Positive factor: High-grade Measured resource for Mainfield underground - Positive factor: Strong confidence for mine planning - Positive factor: Updated with recent drilling and face sampling data Evidence · table > 11.6 Context: 154 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-21) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:370792d0fd4c68c6d58a - Deposit or zone: Mainfield Mining Centre - Mining method: combined - Material type: fresh #### Resource Data - Category: indicated - Tonnes: 1696000 - Grade: 9.7 - Grade Unit: g/t - Contained Metal: 531 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-02 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Indicated Mineral Resource shows significant high-grade growth, particularly in the Crown and Mararoa reefs, supporting future underground development. - Positive factor: High-grade Indicated resource for Mainfield underground - Positive factor: Significant upgrades in Crown and Mararoa reefs - Positive factor: Updated with recent drilling and face sampling data Evidence · table > 9.7 Context: 1,696 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-22) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:e7dab8b1b4be7dbefc73 - Deposit or zone: Mainfield Mining Centre - Mining method: combined - Material type: fresh #### Resource Data - Category: inferred - Tonnes: 1794000 - Grade: 6.9 - Grade Unit: g/t - Contained Metal: 395 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-02 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Inferred Mineral Resource suggests further high-grade potential, with updates reflecting recent drilling, requiring additional work for conversion. - Positive factor: Significant Inferred resource for Mainfield underground - Positive factor: Indicates future growth potential at depth - Positive factor: Updated with recent drilling and face sampling data Evidence · table > 6.9 Context: 1,794 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Mainfield Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-23) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d8b6d0dac3f8269e54a9 - Deposit or zone: Mainfield Mining Centre - Mining method: combined - Material type: fresh #### Resource Data - Tonnes: 3644000 - Grade: 8.4 - Grade Unit: g/t - Contained Metal: 983 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-02 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Mining Centre shows significant growth in its underground Mineral Resource, driven by successful drilling and upgrades in key reefs. - Positive factor: Substantial high-grade total underground resource for Mainfield - Positive factor: Highly successful growth program with significant upgrades - Positive factor: Supports long-term underground mining plans Evidence · table > 8.4 Context: 3,644 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-24) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b1e13d2e3bb46eacc6ea - Deposit or zone: Princess Royal Mining Centre - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 194000 - Grade: 19.6 - Grade Unit: g/t - Contained Metal: 122 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Princess Royal Indicated Mineral Resource is a very high-grade component, providing strong potential for future underground mining. - Positive factor: Very high-grade Indicated resource for underground operations - Positive factor: Good confidence for economic studies Evidence · table > 19.6 Context: 194 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-25) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f5d49319648c110f1f05 - Deposit or zone: Princess Royal Mining Centre - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 1078000 - Grade: 13.5 - Grade Unit: g/t - Contained Metal: 468 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Princess Royal Inferred Mineral Resource suggests substantial high-grade potential, requiring additional drilling for conversion. - Positive factor: Significant high-grade Inferred resource for underground operations - Positive factor: Indicates future growth potential at depth Evidence · table > 13.5 Context: 1,078 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Princess Royal Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-26) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:acc4dc7240e21e491370 - Deposit or zone: Princess Royal Mining Centre - Mining method: combined #### Resource Data - Tonnes: 1273000 - Grade: 14.4 - Grade Unit: g/t - Contained Metal: 591 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total underground Mineral Resource for Princess Royal is a significant, very high-grade inventory, crucial for the project's underground operations. - Positive factor: Substantial very high-grade total underground resource for Princess Royal - Positive factor: Supports long-term underground mining plans Evidence · table > 14.4 Context: 1,273 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-27) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:071115fe352f1c46447d - Deposit or zone: Harlequin Underground - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 571000 - Grade: 18.9 - Grade Unit: g/t - Contained Metal: 347 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Harlequin Indicated Mineral Resource is a very high-grade component, providing strong potential for future underground mining. - Positive factor: Very high-grade Indicated resource for underground operations - Positive factor: Good confidence for economic studies Evidence · table > 18.9 Context: 571 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-28) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f7fa4c31171f6c6cce34 - Deposit or zone: Harlequin Underground - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 183000 - Grade: 12.3 - Grade Unit: g/t - Contained Metal: 73 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Harlequin Inferred Mineral Resource suggests high-grade potential, requiring additional drilling for conversion. - Positive factor: High-grade Inferred resource for underground operations - Positive factor: Indicates future growth potential at depth Evidence · table > 12.3 Context: 183 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Harlequin Underground [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-29) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:fcf95f96f18eecba1c52 - Deposit or zone: Harlequin Underground - Mining method: combined #### Resource Data - Tonnes: 754000 - Grade: 17.3 - Grade Unit: g/t - Contained Metal: 419 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total underground Mineral Resource for Harlequin is a significant, very high-grade inventory, crucial for the project's underground operations. - Positive factor: Substantial very high-grade total underground resource for Harlequin - Positive factor: Supports long-term underground mining plans Evidence · table > 17.3 Context: 754 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-30) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:4b8bfeadeccac42b02e5 - Deposit or zone: Scotia Mining Centre - Mining method: combined - Material type: fresh #### Resource Data - Category: measured - Tonnes: 424000 - Grade: 6 - Grade Unit: g/t - Contained Metal: 82 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-10 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Measured Mineral Resource is a high-grade, high-confidence component, updated with recent data to support ongoing operations. - Positive factor: High-grade Measured resource for underground operations - Positive factor: Strong confidence for mine planning - Positive factor: Updated with recent drilling data Evidence · table > 6.0 Context: 424 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-31) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a7d748788868488e91f5 - Deposit or zone: Scotia Mining Centre - Mining method: combined - Material type: fresh #### Resource Data - Category: indicated - Tonnes: 899000 - Grade: 5.2 - Grade Unit: g/t - Contained Metal: 150 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-10 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Indicated Mineral Resource provides a substantial high-grade inventory, updated with recent data for future development. - Positive factor: High-grade Indicated resource for underground operations - Positive factor: Good confidence for economic studies - Positive factor: Updated with recent drilling data Evidence · table > 5.2 Context: 899 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-32) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:55e1d0e044ca85af7d87 - Deposit or zone: Scotia Mining Centre - Mining method: combined - Material type: fresh #### Resource Data - Category: inferred - Tonnes: 532000 - Grade: 5.6 - Grade Unit: g/t - Contained Metal: 96 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-10 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Inferred Mineral Resource suggests further high-grade potential, with updates reflecting recent drilling, requiring additional work for conversion. - Positive factor: Significant Inferred resource for underground operations - Positive factor: Indicates future growth potential at depth - Positive factor: Updated with recent drilling data Evidence · table > 5.6 Context: 532 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Scotia Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-33) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:3b3cd7696a17da16f2b5 - Deposit or zone: Scotia Mining Centre - Mining method: combined - Material type: fresh #### Resource Data - Tonnes: 1855000 - Grade: 5.5 - Grade Unit: g/t - Contained Metal: 329 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-10 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Underground Mineral Resource maintains a significant high-grade inventory, successfully replacing depletion and supporting ongoing operations. - Positive factor: Substantial high-grade total underground resource for Scotia - Positive factor: Remains unchanged after mining depletion, indicating successful replacement - Positive factor: Supports long-term underground mining plans Evidence · table > 5.5 Context: 1,855 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-34) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a8fbc4d071dc630eb205 - Deposit or zone: Mainfield Mining Centre - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 208000 - Grade: 4.2 - Grade Unit: g/t - Contained Metal: 28 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Surface Indicated Mineral Resource provides a good grade component for surface mining. - Positive factor: Good grade Indicated resource for surface operations Evidence · table > 4.2 Context: 208 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-35) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2ab3fc375faa1ab7431b - Deposit or zone: Mainfield Mining Centre - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 2390000 - Grade: 5.6 - Grade Unit: g/t - Contained Metal: 428 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Surface Inferred Mineral Resource highlights significant high-grade potential for future surface mining, subject to additional drilling. - Positive factor: Large high-grade Inferred resource for surface operations - Positive factor: Indicates future growth potential Evidence · table > 5.6 Context: 2,390 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Mainfield Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-36) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d57b72be43e1668600bf - Deposit or zone: Mainfield Mining Centre - Mining method: combined #### Resource Data - Tonnes: 2598000 - Grade: 5.5 - Grade Unit: g/t - Contained Metal: 456 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Mineral Resource for Mainfield is a significant high-grade inventory, crucial for the project's open pit operations. - Positive factor: Substantial high-grade total surface resource for Mainfield - Positive factor: Supports long-term open pit mining plans Evidence · table > 5.5 Context: 2,598 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-37) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c296cfd52554de6122a7 - Deposit or zone: Gladstone Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Category: measured - Tonnes: 95000 - Grade: 2.3 - Grade Unit: g/t - Contained Metal: 7 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Gladstone Measured Mineral Resource provides a high-confidence component for surface mining, updated with recent data. - Positive factor: High confidence Measured resource for surface operations - Positive factor: Updated with additional drilling data Evidence · table > 2.3 Context: 95 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-38) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5dc8bfa75b1bad668c83 - Deposit or zone: Gladstone Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 950000 - Grade: 2.7 - Grade Unit: g/t - Contained Metal: 81 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Gladstone Indicated Mineral Resource provides a substantial inventory for future surface mining, updated with recent data. - Positive factor: Significant Indicated resource for surface operations - Positive factor: Updated with additional drilling data Evidence · table > 2.7 Context: 950 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-39) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c09fe54484d2b20ee73f - Deposit or zone: Gladstone Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 599000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 32 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Gladstone Inferred Mineral Resource suggests further potential for surface mining, updated with recent data, subject to additional drilling. - Positive factor: Indicates future growth potential - Positive factor: Updated with additional drilling data Evidence · table > 1.7 Context: 599 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Gladstone Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-40) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:132f3979740cafb51616 - Deposit or zone: Gladstone Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Tonnes: 1645000 - Grade: 2.3 - Grade Unit: g/t - Contained Metal: 120 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-04-30 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Gladstone Mineral Resource has been updated to reflect mining depletion and new drilling data, providing a current inventory for surface operations. - Positive factor: Total surface resource for Gladstone - Positive factor: Adjusted for mining depletion and additional drilling data Evidence · table > 2.3 Context: 1,645 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-41) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:44312e6fc637e5a5645a - Deposit or zone: Noganyer Surface - Mining method: combined #### Resource Data - Category: measured - Tonnes: 140000 - Grade: 2.3 - Grade Unit: g/t - Contained Metal: 10 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Noganyer Measured Mineral Resource provides a high-confidence component for surface mining. - Positive factor: High confidence Measured resource for surface operations Evidence · table > 2.3 Context: 140 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-42) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:6232f6ab1473f7dd4f4e - Deposit or zone: Noganyer Surface - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 3004000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 131 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Noganyer Indicated Mineral Resource provides a substantial inventory for future surface mining. - Positive factor: Significant Indicated resource for surface operations Evidence · table > 1.4 Context: 3,004 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-43) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f24259e35b8c21850a93 - Deposit or zone: Noganyer Surface - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 4597000 - Grade: 1.5 - Grade Unit: g/t - Contained Metal: 215 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Noganyer Inferred Mineral Resource highlights further potential for surface mining, subject to additional drilling. - Positive factor: Large Inferred resource for surface operations - Positive factor: Indicates future growth potential Evidence · table > 1.5 Context: 4,597 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Noganyer Surface [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-44) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:e0c4e672cb9555543ece - Deposit or zone: Noganyer Surface - Mining method: combined #### Resource Data - Tonnes: 7741000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 356 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Mineral Resource for Noganyer provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total surface resource for Noganyer - Positive factor: Supports long-term open pit mining plans Evidence · table > 1.4 Context: 7,741 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-45) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:004ff40000632bc5aea8 - Deposit or zone: Maybell Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 960000 - Grade: 1.8 - Grade Unit: g/t - Contained Metal: 55 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Maybell Indicated Mineral Resource provides a substantial inventory for future surface mining, updated with recent drilling. - Positive factor: Significant Indicated resource for surface operations - Positive factor: Adjusted following additional drilling Evidence · table > 1.8 Context: 960 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-46) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:f5b0d6b78a76b2ac7e2d - Deposit or zone: Maybell Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 209000 - Grade: 1.5 - Grade Unit: g/t - Contained Metal: 10 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Maybell Inferred Mineral Resource suggests further potential for surface mining, updated with recent drilling, subject to additional work. - Positive factor: Indicates future growth potential - Positive factor: Adjusted following additional drilling Evidence · table > 1.5 Context: 209 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Maybell Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-47) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:e45f69b6dbe0f1a74328 - Deposit or zone: Maybell Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Tonnes: 1169000 - Grade: 1.7 - Grade Unit: g/t - Contained Metal: 65 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-30 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Maybell Mineral Resource has been updated to reflect additional drilling, providing a current inventory for surface operations. - Positive factor: Total surface resource for Maybell - Positive factor: Adjusted following additional drilling in Maybell and Lord Percy Deposits Evidence · table > 1.7 Context: 1,169 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-48) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8aebaed0f6517ae2faff - Deposit or zone: Scotia Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Category: measured - Tonnes: 10000 - Grade: 6.7 - Grade Unit: g/t - Contained Metal: 2 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-10 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Measured Open Pit Mineral Resource provides a high-confidence, albeit small, component for surface mining, updated with recent data. - Positive factor: High confidence Measured resource for surface operations - Positive factor: Updated with recent drilling data Evidence · table > 6.7 Context: 10 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-49) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:75a682505474ddbbeb7b - Deposit or zone: Scotia Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 4544000 - Grade: 1.5 - Grade Unit: g/t - Contained Metal: 226 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-10 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Indicated Open Pit Mineral Resource provides a substantial inventory for future surface mining, updated with recent data. - Positive factor: Significant Indicated resource for surface operations - Positive factor: Updated with recent drilling data Evidence · table > 1.5 Context: 4,544 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-50) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cc184e1f105fddda7d1d - Deposit or zone: Scotia Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 4541000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 207 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-10 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Inferred Open Pit Mineral Resource highlights further potential for surface mining, updated with recent data, subject to additional drilling. - Positive factor: Large Inferred resource for surface operations - Positive factor: Indicates future growth potential - Positive factor: Updated with recent drilling data Evidence · table > 1.4 Context: 4,541 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Scotia Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-51) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:56518f4bd0573b1e14db - Deposit or zone: Scotia Mining Centre - Mining method: combined - Material type: oxide #### Resource Data - Tonnes: 9094000 - Grade: 1.5 - Grade Unit: g/t - Contained Metal: 436 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-08-10 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Open Pit Mineral Resource provides a significant inventory for the project's open pit operations, with updates including regularisation of Green Lantern. - Positive factor: Substantial total surface resource for Scotia - Positive factor: Green Lantern Mineral Resource regularised - Positive factor: Supports long-term open pit mining plans Evidence · table > 1.5 Context: 9,094 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-52) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d2097638afb626fb36a0 - Deposit or zone: Princess Royal Mining Centre - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 830000 - Grade: 3 - Grade Unit: g/t - Contained Metal: 80 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Princess Royal Indicated Mineral Resource provides a good grade component for surface mining. - Positive factor: Good grade Indicated resource for surface operations Evidence · table > 3.0 Context: 830 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-53) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5f935d58d7e65fa129f8 - Deposit or zone: Princess Royal Mining Centre - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 830000 - Grade: 2.7 - Grade Unit: g/t - Contained Metal: 72 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Princess Royal Inferred Mineral Resource highlights further potential for surface mining, subject to additional drilling. - Positive factor: Significant Inferred resource for surface operations - Positive factor: Indicates future growth potential Evidence · table > 2.7 Context: 830 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Princess Royal Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-54) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:41be4fce84bcb9115619 - Deposit or zone: Princess Royal Mining Centre - Mining method: combined #### Resource Data - Tonnes: 1660000 - Grade: 2.8 - Grade Unit: g/t - Contained Metal: 152 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Mineral Resource for Princess Royal provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total surface resource for Princess Royal - Positive factor: Supports long-term open pit mining plans Evidence · table > 2.8 Context: 1,660 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-55) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d77b78deb4287367e548 - Deposit or zone: Harlequin - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 451000 - Grade: 3.7 - Grade Unit: g/t - Contained Metal: 54 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Harlequin Indicated Mineral Resource provides a good grade component for surface mining. - Positive factor: Good grade Indicated resource for surface operations Evidence · table > 3.7 Context: 451 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-56) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:6a0d19d0237a210ef30e - Deposit or zone: Harlequin - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 688000 - Grade: 3.4 - Grade Unit: g/t - Contained Metal: 75 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Harlequin Inferred Mineral Resource highlights further potential for surface mining, subject to additional drilling. - Positive factor: Significant Inferred resource for surface operations - Positive factor: Indicates future growth potential Evidence · table > 3.4 Context: 688 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Harlequin [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-57) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:92a568c0ccd085c09e17 - Deposit or zone: Harlequin - Mining method: combined #### Resource Data - Tonnes: 1139000 - Grade: 3.5 - Grade Unit: g/t - Contained Metal: 129 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Mineral Resource for Harlequin provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total surface resource for Harlequin - Positive factor: Supports long-term open pit mining plans Evidence · table > 3.5 Context: 1,139 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-58) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b8e03d41583461886642 - Deposit or zone: Lake Cowan - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 1834000 - Grade: 1.6 - Grade Unit: g/t - Contained Metal: 95 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Lake Cowan Indicated Mineral Resource provides a substantial inventory for future surface mining. - Positive factor: Significant Indicated resource for surface operations Evidence · table > 1.6 Context: 1,834 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-59) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:fa9573432d80b4a423b1 - Deposit or zone: Lake Cowan - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 894000 - Grade: 2.3 - Grade Unit: g/t - Contained Metal: 66 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Lake Cowan Inferred Mineral Resource highlights further potential for surface mining, subject to additional drilling. - Positive factor: Significant Inferred resource for surface operations - Positive factor: Indicates future growth potential Evidence · table > 2.3 Context: 894 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Lake Cowan [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-60) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d6c3b6412512be586f37 - Deposit or zone: Lake Cowan - Mining method: combined #### Resource Data - Tonnes: 2728000 - Grade: 1.8 - Grade Unit: g/t - Contained Metal: 161 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Mineral Resource for Lake Cowan provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total surface resource for Lake Cowan - Positive factor: Supports long-term open pit mining plans Evidence · table > 1.8 Context: 2,728 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-61) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:0683e55b90089df5483a - Deposit or zone: Polar Bear - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 50000 - Grade: 3.3 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Polar Bear Indicated Mineral Resource provides a good grade component for surface mining. - Positive factor: Good grade Indicated resource for surface operations Evidence · table > 3.3 Context: 50 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-62) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cdeb3723de456ad844a3 - Deposit or zone: Polar Bear - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 812000 - Grade: 1.9 - Grade Unit: g/t - Contained Metal: 50 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Polar Bear Inferred Mineral Resource highlights further potential for surface mining, including a maiden resource at Hinemoa, subject to additional drilling. - Positive factor: Significant Inferred resource for surface operations - Positive factor: Maiden Mineral Resource at Hinemoa estimated - Positive factor: Indicates future growth potential Evidence · table > 1.9 Context: 812 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Polar Bear [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-63) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:06e2558108e827fe6a89 - Deposit or zone: Polar Bear - Mining method: combined #### Resource Data - Tonnes: 862000 - Grade: 2 - Grade Unit: g/t - Contained Metal: 55 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Mineral Resource for Polar Bear provides a significant inventory for the project's open pit operations, including a new maiden resource. - Positive factor: Total surface resource for Polar Bear - Positive factor: Includes maiden Mineral Resource at Hinemoa - Positive factor: Supports long-term open pit mining plans Evidence · table > 2.0 Context: 862 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-64) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d2d98183da272940f7c9 - Deposit or zone: Buldania - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 1095000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 51 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Buldania Indicated Mineral Resource provides a substantial inventory for future surface mining. - Positive factor: Significant Indicated resource for surface operations Evidence · table > 1.4 Context: 1,095 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-65) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:7dcfb8a4ecc1a256c643 - Deposit or zone: Buldania - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 743000 - Grade: 1.6 - Grade Unit: g/t - Contained Metal: 39 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Buldania Inferred Mineral Resource highlights further potential for surface mining, subject to additional drilling. - Positive factor: Significant Inferred resource for surface operations - Positive factor: Indicates future growth potential Evidence · table > 1.6 Context: 743 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Buldania [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-66) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2bbbceff28a70ff3f38c - Deposit or zone: Buldania - Mining method: combined #### Resource Data - Tonnes: 1838000 - Grade: 1.5 - Grade Unit: g/t - Contained Metal: 90 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Mineral Resource for Buldania provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total surface resource for Buldania - Positive factor: Supports long-term open pit mining plans Evidence · table > 1.5 Context: 1,838 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-67) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b8025e3dce03b075e26a - Deposit or zone: Surface Stockpiles - Mining method: combined - Material type: stockpile #### Resource Data - Category: measured - Tonnes: 4165000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 100 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Measured Surface Stockpiles represent a high-confidence, readily available resource, added from recent mining activities. - Positive factor: High confidence Measured resource from stockpiles - Positive factor: Addition of mined surface stockpiles Evidence · table > 0.7 Context: 4,165 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-68) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2496c21101b784dad45a - Deposit or zone: Surface Stockpiles - Mining method: combined - Material type: stockpile #### Resource Data - Category: indicated - Tonnes: 237000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Indicated Surface Stockpiles represent a lower-grade, but still confident, resource from recent mining activities. - Positive factor: Indicated resource from stockpiles - Positive factor: Addition of mined surface stockpiles Evidence · table > 0.7 Context: 237 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Surface Stockpiles [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-69) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:50b0b3818765a1a785de - Deposit or zone: Surface Stockpiles - Mining method: combined - Material type: stockpile #### Resource Data - Tonnes: 4402000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 105 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Stockpiles represent a substantial, readily available resource, added from recent mining activities, contributing to the overall inventory. - Positive factor: Significant total resource from stockpiles - Positive factor: Addition of mined surface stockpiles from open pit mining and ROM stocks Evidence · table > 0.7 Context: 4,402 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-70) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:40a10773d08b04c43d55 - Deposit or zone: Total Surface - Mining method: combined #### Resource Data - Category: measured - Tonnes: 4410000 - Grade: 0.8 - Grade Unit: g/t - Contained Metal: 120 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Measured Surface Mineral Resource provides a high-confidence component for surface mining. - Positive factor: High confidence Measured resource for total surface operations Evidence · table > 0.8 Context: 4,410 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-71) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d21f5ca8e199e44adddf - Deposit or zone: Total Surface - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 14163000 - Grade: 1.8 - Grade Unit: g/t - Contained Metal: 812 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Indicated Surface Mineral Resource provides a substantial inventory for future surface mining. - Positive factor: Significant Indicated resource for total surface operations Evidence · table > 1.8 Context: 14,163 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-72) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:c9dd35c28fb757fd5de6 - Deposit or zone: Total Surface - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 16302000 - Grade: 2.3 - Grade Unit: g/t - Contained Metal: 1193 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Inferred Surface Mineral Resource highlights further potential for surface mining, subject to additional drilling. - Positive factor: Large Inferred resource for total surface operations - Positive factor: Indicates future growth potential Evidence · table > 2.3 Context: 16,302 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Total Surface [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-73) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:2a6f4d47652f5cfe1aee - Deposit or zone: Total Surface - Mining method: combined #### Resource Data - Tonnes: 34876000 - Grade: 1.9 - Grade Unit: g/t - Contained Metal: 2124 - Contained Unit: koz - Cutoff Grade: 0.7 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Surface Mineral Resource provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total surface resource - Positive factor: Supports long-term open pit mining plans Evidence · table > 1.9 Context: 34,876 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-74) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:9089a0767ea717d067f7 - Deposit or zone: Norseman Gold Project - Mining method: combined #### Resource Data - Category: proven - Tonnes: 4801000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 215 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: This Proven Ore Reserve contributes to the overall project's high-confidence, economically viable inventory. - Positive factor: High confidence Proven Reserve category - Positive factor: Part of overall reserve growth Evidence · table > 1.4 Context: 4,801 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-75) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:cf14427fedbf6f9ae931 - Deposit or zone: Norseman Gold Project - Mining method: combined #### Resource Data - Category: probable - Tonnes: 8222000 - Grade: 2.7 - Grade Unit: g/t - Contained Metal: 721 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: This Probable Ore Reserve represents a substantial portion of the project's economically viable inventory, supporting mine planning. - Positive factor: High confidence Probable Reserve category - Positive factor: Significant contribution to overall reserve growth Evidence · table > 2.7 Context: 8,222 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Norseman Gold Project [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-76) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:db002ebff5b1dede5c8d - Deposit or zone: Norseman Gold Project - Mining method: combined #### Resource Data - Tonnes: 13022000 - Grade: 2.2 - Grade Unit: g/t - Contained Metal: 936 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Ore Reserve demonstrates substantial economically extractable gold at the Norseman Project, showing growth year-on-year. - Positive factor: Significant total Ore Reserve - Positive factor: Overall growth after mining depletion Evidence · table > 2.2 Context: 13,022 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-77) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:1e901fb29dbd49271e00 - Deposit or zone: Underground - Mining method: combined #### Resource Data - Category: proven - Tonnes: 576000 - Grade: 5.9 - Grade Unit: g/t - Contained Metal: 109 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Proven Underground Ore Reserve provides a high-confidence, high-grade component for ongoing underground operations. - Positive factor: High-grade Proven Reserve for underground operations - Positive factor: Strong confidence for mine planning Evidence · table > 5.9 Context: 576 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-78) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:a3015f1bfc60e8b445d6 - Deposit or zone: Underground - Mining method: combined #### Resource Data - Category: probable - Tonnes: 2827000 - Grade: 4.6 - Grade Unit: g/t - Contained Metal: 414 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Probable Underground Ore Reserve provides a substantial high-grade inventory for future underground development. - Positive factor: High-grade Probable Reserve for underground operations - Positive factor: Good confidence for economic studies Evidence · table > 4.6 Context: 2,827 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Underground [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-79) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:b2c0b6f92014f994c1f8 - Deposit or zone: Underground - Mining method: combined #### Resource Data - Tonnes: 3403000 - Grade: 4.8 - Grade Unit: g/t - Contained Metal: 523 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total underground Ore Reserve demonstrates a significant high-grade inventory, crucial for the project's underground operations. - Positive factor: Substantial high-grade total underground reserve - Positive factor: Supports long-term underground mining plans Evidence · table > 4.8 Context: 3,403 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-80) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:d3d3db375a2e974ae027 - Deposit or zone: Open Pit - Mining method: combined #### Resource Data - Category: proven - Tonnes: 59000 - Grade: 2.8 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Proven Open Pit Ore Reserve provides a high-confidence, albeit small, component for surface mining. - Positive factor: High confidence Proven Reserve for open pit operations Evidence · table > 2.8 Context: 59 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-81) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:423dc32a9fe0f92b0fde - Deposit or zone: Open Pit - Mining method: combined #### Resource Data - Category: probable - Tonnes: 5158000 - Grade: 1.8 - Grade Unit: g/t - Contained Metal: 302 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Probable Open Pit Ore Reserve provides a substantial inventory for future surface mining operations. - Positive factor: Significant Probable Reserve for open pit operations - Positive factor: Good confidence for economic studies Evidence · table > 1.8 Context: 5,158 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Open Pit [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-82) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:741ed3ec4d573469dcd8 - Deposit or zone: Open Pit - Mining method: combined #### Resource Data - Tonnes: 5217000 - Grade: 1.8 - Grade Unit: g/t - Contained Metal: 308 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Open Pit Ore Reserve provides a significant inventory for the project's open pit operations. - Positive factor: Substantial total open pit reserve - Positive factor: Supports long-term open pit mining plans Evidence · table > 1.8 Context: 5,217 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-83) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:e7adfd3cbb600499a3d2 - Deposit or zone: Stockpiles - Mining method: combined - Material type: stockpile #### Resource Data - Category: proven - Tonnes: 4165000 - Grade: 0.8 - Grade Unit: g/t - Contained Metal: 100 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Proven Stockpiles represent a high-confidence, readily available reserve, added from recent mining activities. - Positive factor: High confidence Proven Reserve from stockpiles - Positive factor: Addition of mined surface stockpiles Evidence · table > 0.8 Context: 4,165 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-84) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:fc8dbbf8e435c400156c - Deposit or zone: Stockpiles - Mining method: combined - Material type: stockpile #### Resource Data - Category: probable - Tonnes: 237000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Probable Stockpiles represent a lower-grade, but still confident, reserve from recent mining activities. - Positive factor: Probable Reserve from stockpiles - Positive factor: Addition of mined surface stockpiles Evidence · table > 0.7 Context: 237 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Stockpiles [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-85) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8a2c25f7172bb9c6c180 - Deposit or zone: Stockpiles - Mining method: combined - Material type: stockpile #### Resource Data - Tonnes: 4402000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 105 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-31 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Stockpiles represent a substantial, readily available reserve, added from recent mining activities, contributing to the overall inventory. - Positive factor: Significant total reserve from stockpiles - Positive factor: Addition of mined surface stockpiles from open pit mining and ROM stocks Evidence · table > 0.7 Context: 4,402 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-86) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:dc338082286a6f4967bf - Deposit or zone: OK Underground - Mining method: combined #### Resource Data - Category: proven - Tonnes: 263000 - Grade: 7.1 - Grade Unit: g/t - Contained Metal: 60 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The OK Underground Proven Ore Reserve provides a high-confidence, high-grade component for ongoing underground operations. - Positive factor: High-grade Proven Reserve for underground operations - Positive factor: Strong confidence for mine planning Evidence · table > 7.1 Context: 263 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-87) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:82692d74c1fc5ba2d117 - Deposit or zone: OK Underground - Mining method: combined #### Resource Data - Category: probable - Tonnes: 411000 - Grade: 4.8 - Grade Unit: g/t - Contained Metal: 63 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The OK Underground Probable Ore Reserve provides a substantial inventory for future underground development. - Positive factor: Probable Reserve for underground operations - Positive factor: Good confidence for economic studies Evidence · table > 4.8 Context: 411 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### OK Underground [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-88) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:7b0e8d505b13d69e175f - Deposit or zone: OK Underground - Mining method: combined #### Resource Data - Tonnes: 674000 - Grade: 5.7 - Grade Unit: g/t - Contained Metal: 123 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The OK Underground Ore Reserve shows a net increase in ounces after depletion, extending the mine life, despite a decrease in grade. - Positive factor: High-grade total underground reserve for OK - Positive factor: Increased 6% in ounces after mining depletion - Positive factor: Extends the OK Underground Life of Mine - Negative factor: Decrease in grade of 20% Evidence · table > 5.7 Context: 674 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-89) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:bf2555bda6f88bcac534 - Deposit or zone: Mainfield Mining Centre - Mining method: combined #### Resource Data - Category: proven - Tonnes: 95000 - Grade: 5.3 - Grade Unit: g/t - Contained Metal: 16 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Proven Ore Reserve includes maiden reserves in the Crown Reef, providing a high-confidence, high-grade component for underground operations. - Positive factor: High-grade Proven Reserve for underground operations - Positive factor: Maiden Ore Reserves calculated in Crown Reef Evidence · table > 5.3 Context: 95 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-90) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:55edaeecfcddaa5596ec - Deposit or zone: Mainfield Mining Centre - Mining method: combined #### Resource Data - Category: probable - Tonnes: 1645000 - Grade: 5 - Grade Unit: g/t - Contained Metal: 263 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Probable Ore Reserve includes maiden reserves in the Mararoa Reef, providing a substantial high-grade inventory for future underground development. - Positive factor: High-grade Probable Reserve for underground operations - Positive factor: Maiden Ore Reserves calculated in Phoenix and Butterfly areas of Mararoa Reef Evidence · table > 5.0 Context: 1,645 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Mainfield Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-91) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:842f3d34cf3267e24f03 - Deposit or zone: Mainfield Mining Centre - Mining method: combined #### Resource Data - Tonnes: 1740000 - Grade: 5 - Grade Unit: g/t - Contained Metal: 279 - Contained Unit: koz - Cutoff Grade: 2.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Mainfield Mining Centre shows significant growth in its underground Ore Reserve, driven by successful maiden reserves in key reefs. - Positive factor: Substantial high-grade total underground reserve for Mainfield - Positive factor: Maiden Ore Reserves calculated in Crown Reef and Mararoa Reef areas - Positive factor: Highly successful growth program Evidence · table > 5.0 Context: 1,740 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-92) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5c81ca8abbc9f56b0022 - Deposit or zone: Scotia Mining Centre - Mining method: combined #### Resource Data - Category: proven - Tonnes: 218000 - Grade: 4.7 - Grade Unit: g/t - Contained Metal: 33 - Contained Unit: koz - Cutoff Grade: 1.9 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Proven Ore Reserve provides a high-confidence, high-grade component for ongoing underground operations. - Positive factor: High-grade Proven Reserve for underground operations - Positive factor: Strong confidence for mine planning Evidence · table > 4.7 Context: 218 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-93) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:79e24e8f32eeb7dece82 - Deposit or zone: Scotia Mining Centre - Mining method: combined #### Resource Data - Category: probable - Tonnes: 3866000 - Grade: 1.9 - Grade Unit: g/t - Contained Metal: 242 - Contained Unit: koz - Cutoff Grade: 1.9 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Probable Ore Reserve provides a substantial inventory for future underground development. - Positive factor: Significant Probable Reserve for underground operations - Positive factor: Good confidence for economic studies Evidence · table > 1.9 Context: 3,866 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Scotia Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-94) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:69f3be9f90f40ec6ff24 - Deposit or zone: Scotia Mining Centre - Mining method: combined #### Resource Data - Tonnes: 4084000 - Grade: 2.1 - Grade Unit: g/t - Contained Metal: 275 - Contained Unit: koz - Cutoff Grade: 1.9 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Scotia Underground Ore Reserve has been updated to reflect recent drilling and development, maintaining a significant inventory for operations. - Positive factor: Substantial total underground reserve for Scotia - Positive factor: Adjusted for mining depletion and updated with new drilling and development results - Positive factor: Supports long-term underground mining plans Evidence · table > 2.1 Context: 4,084 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-95) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:823e06e927ce547c8c8c - Deposit or zone: Gladstone Mining Centre - Mining method: combined #### Resource Data - Category: proven - Tonnes: 59000 - Grade: 2.8 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Gladstone Proven Ore Reserve provides a high-confidence, albeit small, component for surface mining. - Positive factor: High confidence Proven Reserve for open pit operations Evidence · table > 2.8 Context: 59 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-96) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:e8c26b26a566aeaa0585 - Deposit or zone: Gladstone Mining Centre - Mining method: combined #### Resource Data - Category: probable - Tonnes: 649000 - Grade: 2.9 - Grade Unit: g/t - Contained Metal: 61 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Gladstone Probable Ore Reserve provides a substantial inventory for future surface mining, including an update for Daisy South. - Positive factor: Significant Probable Reserve for open pit operations - Positive factor: Includes updated Ore Reserve at Daisy South Evidence · table > 2.9 Context: 649 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Gladstone Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-97) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:e8a5cc6138076a58f3ae - Deposit or zone: Gladstone Mining Centre - Mining method: combined #### Resource Data - Tonnes: 709000 - Grade: 2.9 - Grade Unit: g/t - Contained Metal: 67 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Gladstone Ore Reserve has been updated to reflect mining depletion and includes an updated reserve at Daisy South, showing an overall decrease in ounces. - Positive factor: Total open pit reserve for Gladstone - Positive factor: Adjusted for mining depletion and includes updated Ore Reserve at Daisy South - Negative factor: Overall decrease of 9% in ounces after block model regularisation and mining depletion Evidence · table > 2.9 Context: 709 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-98) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:66e2fadab48b47cf1860 - Deposit or zone: Maybell Mining Centre - Mining method: combined #### Resource Data - Category: probable - Tonnes: 440000 - Grade: 2.3 - Grade Unit: g/t - Contained Metal: 32 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Maybell Probable Ore Reserve includes a maiden reserve for Lord Percy, providing a new component for surface mining. - Positive factor: Probable Reserve for open pit operations - Positive factor: Includes a maiden Ore Reserve for the Lord Percy deposit Evidence · table > 2.3 Context: 440 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Maybell Mining Centre [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-99) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8339361d7a10f1650b11 - Deposit or zone: Maybell Mining Centre - Mining method: combined #### Resource Data - Tonnes: 440000 - Grade: 2.3 - Grade Unit: g/t - Contained Metal: 32 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Maybell Ore Reserve includes a maiden reserve for Lord Percy, providing a new inventory for surface operations. - Positive factor: Total open pit reserve for Maybell - Positive factor: Includes a maiden Ore Reserve for the Lord Percy deposit Evidence · table > 2.3 Context: 440 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-100) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:5b6c0f8722497bccfe94 - Deposit or zone: Other Reserves - Mining method: combined #### Resource Data - Category: proven - Tonnes: 4165000 - Grade: 0.7 - Grade Unit: g/t - Contained Metal: 100 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Proven Other Reserves provide a high-confidence component for the project's overall inventory. - Positive factor: High confidence Proven Reserve for other operations Evidence · table > 0.7 Context: 4,165 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-101) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:8c8cee7676b4ecd236e7 - Deposit or zone: Other Reserves - Mining method: combined #### Resource Data - Category: probable - Tonnes: 1210000 - Grade: 1.5 - Grade Unit: g/t - Contained Metal: 59 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The Probable Other Reserves provide a substantial inventory for the project's overall operations. - Positive factor: Significant Probable Reserve for other operations Evidence · table > 1.5 Context: 1,210 #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### Other Reserves [Link to this fact](https://atlas-staging.minestarters.com/news/pnr-annual-mineral-resource-ore-reserve-statement--d6728238-e466-4b88-a3f6-e6286312e121#fact-resource-facts-102) Norseman Gold Project · gold #### Identity - Project: Norseman Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: PNR #### Resource scope - Estimate type: reserve - Reporting standards: jorc - QP Signed: Yes - Resource group id: resource:ae15922ef7a2811df62d - Deposit or zone: Other Reserves - Mining method: combined #### Resource Data - Tonnes: 5375000 - Grade: 0.9 - Grade Unit: g/t - Contained Metal: 160 - Contained Unit: koz - Cutoff Grade: 0.85 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-09-28 #### Lab - Laboratory: Intertek #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-28T00:00:00.000Z Reasoning: The total Other Reserves provide a significant inventory for the project's overall operations. - Positive factor: Substantial total other reserves - Positive factor: Supports long-term mining plans Evidence · table > 0.9 Context: 5,375 #### Tags used in scoring **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## 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.