# SQX: Annual Report to Shareholders

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462

Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146440

Publisher: asx

Original announcement: 2026-09-30T06:43:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-09-30T07:22:34.781Z

Atlas analysis updated: 2026-09-30T07:22:34.781Z

- Company: SQX Resources Limited

- Ticker: SQX

- Exchange: ASX

- Region: Unavailable

- Primary commodity: Gold

- Secondary commodities: Silver, Copper

- Document categories: Drill results, Capital raise, Other

- Extracted: 2026-09-30 07:22:35 UTC

Narrative sentiment: 0.70 · Bullish

## Minestarters Atlas summary

SQX Resources Limited's annual report for the year ended June 30, 2026, highlights a transformative year with the acquisition of 80% of AM6 Pty Ltd, securing the Red Bird Gold Project in Arizona and the Williams Gold-Silver Project in Montana, USA. The company reported bonanza-grade gold and silver assays from sampling and maiden RC drilling at Red Bird, confirming a shallow gold system with significant intercepts. Additionally, SQX completed a $2 million placement and a subsequent $2.47 million entitlement offer to fund its exploration activities and corporate growth.

Reasoning: SQX Resources Limited had a transformative year, acquiring new US-based gold and silver projects and reporting high-grade exploration results from both sampling and maiden drilling. The company also successfully raised capital to support its growth. However, the detailed exploration results are largely historical restatements, and the company recorded an operating loss.

- Positive factor: Acquisition of new projects \(Red Bird, Williams\) in the USA, transforming the company's portfolio.

- Positive factor: High-grade gold and silver assays reported from sampling and maiden drilling at Red Bird.

- Positive factor: Maiden drilling at Red Bird confirmed a shallow gold system with significant intercepts.

- Positive factor: Expansion of landholding at the Williams project, increasing exploration potential.

- Positive factor: Successful completion of a $2 million placement and a subsequent $2.47 million entitlement offer to fund activities.

- Negative factor: Most detailed exploration results presented are re-releases of historical data, limiting novelty.

- Negative factor: The company reported an operating loss for the financial year.

- Negative factor: Decrease in working capital from the prior year.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 37

## Classification and evidence

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: The document explicitly states that the exploration results are extracted from previous ASX Announcements, indicating they are not new assays or interpretations.

Evidence · text

> The information in this Annual Report that relates to Exploration Results, Exploration Targets and Exploration Data for SQX’s Projects was extracted from the following ASX Announcements:

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: The report states that the information was issued in accordance with the 2012 Edition of the JORC Code and confirms that the Competent Person’s findings have not been materially modified.

Evidence · text

> The reports were issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

**Apparent Width Only**

Polarity: negative

Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Why it applies: No true width or drill orientation information is provided for any of the reported drill intercepts, implying they are downhole lengths.

Evidence · text

> 45.7m @ 1.3g/t Au from 4.6m \(incl. 13.7m @ 2.2g/t Au\) in RBRC013

**Bonanza Intercept**

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: Several channel samples and drill sub-intervals report gold grades significantly above the exceptional threshold for epithermal deposits \(e.g., 38.5 g/t Au, 36.0 g/t Au, 75.1 g/t Au, 576 g/t Ag\).

Evidence · text

> 13.7m @ 16.0g/t Au \(incl. 4.6m @ 38.5g/t Au\)

## Extracted facts

Stored fact records: 37. Some facts used in scoring do not have a stored record.

## Drill Results (37)

### Fact 1

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-0)

Red Bird Gold Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Red Bird Gold Project
- Commodity: gold
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: SQX

#### Geometry

- Grade: 16
- Grade Unit: g/t
- Intercept: 13.7 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-03-24T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical channel sample shows a high-grade gold intercept over a good width, indicating strong mineralization in the epithermal system, though its novelty is low as it's a re-release.

- Positive factor: High gold grade for an epithermal deposit.

- Positive factor: Good intercept length for channel sampling.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 13.7m @ 16.0g/t Au \(incl. 4.6m @ 38.5g/t Au\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 2

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-1)

Red Bird Gold Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Red Bird Gold Project
- Commodity: gold
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: SQX

#### Geometry

- Grade: 38.5
- Grade Unit: g/t
- Intercept: 4.6 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-03-24T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows bonanza-grade gold over a significant width, highlighting very high-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 4.6m @ 38.5g/t Au

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 3

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-2)

Red Bird Gold Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Red Bird Gold Project
- Commodity: gold
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: SQX

#### Geometry

- Grade: 18.3
- Grade Unit: g/t
- Intercept: 6.7 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-03-24T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical channel sample shows a high-grade gold intercept over a good width, indicating strong mineralization in the epithermal system, though its novelty is low as it's a re-release.

- Positive factor: High gold grade for an epithermal deposit.

- Positive factor: Good intercept length for channel sampling.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 6.7m @ 18.3g/t Au \(incl. 3.0m @ 36.0g/t Au\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 4

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-3)

Red Bird Gold Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Red Bird Gold Project
- Commodity: gold
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: SQX

#### Geometry

- Grade: 36
- Grade Unit: g/t
- Intercept: 3 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-03-24T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows bonanza-grade gold over a significant width, highlighting very high-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 3.0m @ 36.0g/t Au

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 5

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-4)

Red Bird Gold Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Red Bird Gold Project
- Commodity: gold
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: SQX

#### Geometry

- Grade: 1.3
- Grade Unit: g/t
- Intercept: 29.3 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-03-24T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical surface channel sample shows a moderate gold grade over a significant width, supporting near-surface mineralization potential, though its novelty is low.

- Positive factor: Good intercept length for surface channel sampling.

- Positive factor: Moderate gold grade for an epithermal deposit.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 29.3m @ 1.3g/t Au \(incl. 8.2m @ 1.8g/t Au\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 6

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-5)

Red Bird Gold Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Red Bird Gold Project
- Commodity: gold
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: SQX

#### Geometry

- Grade: 1.8
- Grade Unit: g/t
- Intercept: 8.2 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: open\_pit

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2026-03-24T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows a moderate gold grade over a good width, supporting near-surface mineralization potential, though its novelty is low.

- Positive factor: Moderate gold grade for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 8.2m @ 1.8g/t Au

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### RBRC013

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-6)

Red Bird North · gold

#### Identity

- Hole ID: RBRC013
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 1.3
- Grade Unit: g/t
- Intercept: 45.7 m
- From: 4.6 m
- To: 50.3 m
- Intercept Depth: 4.6 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC013:4.6-50.3
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a significant width of moderate-grade gold, supporting the potential for a shallow open-pit scenario in the epithermal system, though its novelty is low.

- Positive factor: Significant intercept length for an epithermal gold system.

- Positive factor: Moderate gold grade, consistent with open-pit potential.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 45.7m @ 1.3g/t Au from 4.6m \(incl. 13.7m @ 2.2g/t Au\) in RBRC013

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC013

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-7)

Red Bird North · gold

#### Identity

- Hole ID: RBRC013
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 2.2
- Grade Unit: g/t
- Intercept: 13.7 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows a strong gold grade over a good width, indicating higher-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 13.7m @ 2.2g/t Au

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC012

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-8)

Red Bird North · gold

#### Identity

- Hole ID: RBRC012
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 1.4
- Grade Unit: g/t
- Intercept: 42.7 m
- From: 4.6 m
- To: 47.3 m
- Intercept Depth: 4.6 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC012:4.6-47.3
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a significant width of moderate-grade gold, supporting the potential for a shallow open-pit scenario in the epithermal system, though its novelty is low.

- Positive factor: Significant intercept length for an epithermal gold system.

- Positive factor: Moderate gold grade, consistent with open-pit potential.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 42.7m @ 1.4g/t Au from 4.6m \(incl. 9.1m @ 3.9g/t Au\) in RBRC012

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC012

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-9)

Red Bird North · gold

#### Identity

- Hole ID: RBRC012
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 3.9
- Grade Unit: g/t
- Intercept: 9.1 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows a strong gold grade over a good width, indicating higher-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 9.1m @ 3.9g/t Au

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC023

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-10)

Red Bird North · gold

#### Identity

- Hole ID: RBRC023
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 3.1
- Grade Unit: g/t
- Intercept: 24.4 m
- From: 22.9 m
- To: 47.3 m
- Intercept Depth: 22.9 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC023:22.9-47.3
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a strong gold grade over a good width, indicating significant mineralization in the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good intercept length.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 24.4m @ 3.1g/t Au from 22.9m \(incl. 9.1m @ 6.6g/t Au\) in RBRC023

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC023

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-11)

Red Bird North · gold

#### Identity

- Hole ID: RBRC023
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 6.6
- Grade Unit: g/t
- Intercept: 9.1 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows bonanza-grade gold over a significant width, highlighting very high-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 9.1m @ 6.6g/t Au

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC026

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-12)

Red Bird North · gold

#### Identity

- Hole ID: RBRC026
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 2.4
- Grade Unit: g/t
- Intercept: 25.9 m
- From: 22.9 m
- To: 48.8 m
- Intercept Depth: 22.9 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC026:22.9-48.8
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a strong gold grade over a good width, indicating significant mineralization in the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good intercept length.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 25.9m @ 2.4g/t Au from 22.9m \(incl. 6.1m @ 5.2g/t Au\) in RBRC026

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC026

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-13)

Red Bird North · gold

#### Identity

- Hole ID: RBRC026
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 5.2
- Grade Unit: g/t
- Intercept: 6.1 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows bonanza-grade gold over a significant width, highlighting very high-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 6.1m @ 5.2g/t Au

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC019

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-14)

Red Bird North · gold

#### Identity

- Hole ID: RBRC019
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 2.8
- Grade Unit: g/t
- Intercept: 22.9 m
- From: 42.7 m
- To: 65.6 m
- Intercept Depth: 42.7 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC019:42.7-65.6
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a strong gold grade over a good width, indicating significant mineralization in the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good intercept length.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 22.9m @ 2.8g/t Au from 42.7m \(incl. 4.6m @ 8.7g/t Au\) in RBRC019

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC019

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-15)

Red Bird North · gold

#### Identity

- Hole ID: RBRC019
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 8.7
- Grade Unit: g/t
- Intercept: 4.6 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows bonanza-grade gold over a significant width, highlighting very high-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 4.6m @ 8.7g/t Au

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC020

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-16)

Red Bird North · gold

#### Identity

- Hole ID: RBRC020
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 2.9
- Grade Unit: g/t
- Intercept: 16.8 m
- From: 41.1 m
- To: 57.9 m
- Intercept Depth: 41.1 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC020:41.1-57.9
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a strong gold grade over a good width, indicating significant mineralization in the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good intercept length.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 16.8m @ 2.9g/t Au from 41.1m \(incl. 6.1m @ 5.2g/t Au\) in RBRC020

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC020

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-17)

Red Bird North · gold

#### Identity

- Hole ID: RBRC020
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 5.2
- Grade Unit: g/t
- Intercept: 6.1 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows bonanza-grade gold over a significant width, highlighting very high-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 6.1m @ 5.2g/t Au

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC015

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-18)

Red Bird North · gold

#### Identity

- Hole ID: RBRC015
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 1
- Grade Unit: g/t
- Intercept: 36.6 m
- From: 3 m
- To: 39.6 m
- Intercept Depth: 3 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC015:3-39.6
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a significant width of moderate-grade gold, supporting the potential for a shallow open-pit scenario in the epithermal system, though its novelty is low.

- Positive factor: Significant intercept length for an epithermal gold system.

- Positive factor: Moderate gold grade, consistent with open-pit potential.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 36.6m @ 1.0g/t Au from 3.0m in RBRC015

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC031

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-19)

Red Bird North · gold

#### Identity

- Hole ID: RBRC031
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 2.2
- Grade Unit: g/t
- Intercept: 15.2 m
- From: 13.7 m
- To: 28.9 m
- Intercept Depth: 13.7 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC031:13.7-28.9
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a strong gold grade over a good width, indicating significant mineralization in the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good intercept length.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 15.2m @ 2.2g/t Au from 13.7m \(incl. 7.6m @ 3.8g/t Au\) in RBRC031

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC031

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-20)

Red Bird North · gold

#### Identity

- Hole ID: RBRC031
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 3.8
- Grade Unit: g/t
- Intercept: 7.6 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows a strong gold grade over a good width, indicating higher-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 7.6m @ 3.8g/t Au

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC027

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-21)

Red Bird North · gold

#### Identity

- Hole ID: RBRC027
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 2.9
- Grade Unit: g/t
- Intercept: 13.7 m
- From: 1.5 m
- To: 15.2 m
- Intercept Depth: 1.5 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC027:1.5-15.2
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a strong gold grade over a good width from very shallow depth, indicating significant near-surface mineralization, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Good intercept length from very shallow depth.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 13.7m @ 2.9g/t Au from 1.5m \(incl. 4.6m @ 7.8g/t Au\) in RBRC027

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC027

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-22)

Red Bird North · gold

#### Identity

- Hole ID: RBRC027
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 7.8
- Grade Unit: g/t
- Intercept: 4.6 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical sub-interval shows bonanza-grade gold over a significant width, highlighting very high-grade zones within the epithermal system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Good sub-interval width.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 4.6m @ 7.8g/t Au

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC010

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-23)

Red Bird North · gold

#### Identity

- Hole ID: RBRC010
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 1
- Grade Unit: g/t
- Intercept: 27.4 m
- From: 15.2 m
- To: 42.6 m
- Intercept Depth: 15.2 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC010:15.2-42.6
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a significant width of moderate-grade gold, supporting the potential for a shallow open-pit scenario in the epithermal system, though its novelty is low.

- Positive factor: Significant intercept length for an epithermal gold system.

- Positive factor: Moderate gold grade, consistent with open-pit potential.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 27.4m @ 1.0g/t Au from 15.2m in RBRC010

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC025

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-24)

Red Bird North · gold

#### Identity

- Hole ID: RBRC025
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 1.7
- Grade Unit: g/t
- Intercept: 22.9 m
- From: 22.9 m
- To: 45.8 m
- Intercept Depth: 22.9 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC025:22.9-45.8
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a good width of moderate-grade gold, supporting the potential for a shallow open-pit scenario in the epithermal system, though its novelty is low.

- Positive factor: Good intercept length for an epithermal gold system.

- Positive factor: Moderate gold grade, consistent with open-pit potential.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 22.9m @ 1.7g/t Au from 22.9m in RBRC025

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC016

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-25)

Red Bird North · gold

#### Identity

- Hole ID: RBRC016
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 2.1
- Grade Unit: g/t
- Intercept: 12.2 m
- From: 22.9 m
- To: 35.1 m
- Intercept Depth: 22.9 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC016:22.9-35.1
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a strong gold grade over a moderate width, indicating significant mineralization in the epithermal system, though its novelty is low.

- Positive factor: Strong gold grade for an epithermal deposit.

- Positive factor: Moderate intercept length.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 12.2m @ 2.1g/t Au from 22.9m in RBRC016

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC026

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-26)

Red Bird North · gold

#### Identity

- Hole ID: RBRC026
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 1
- Grade Unit: g/t
- Intercept: 9.1 m
- From: 0 m
- To: 9.1 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC026:0-9.1
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows moderate gold grade from surface over a moderate width, indicating near-surface mineralization, though its novelty is low.

- Positive factor: Moderate gold grade from surface, indicating near-surface mineralization.

- Positive factor: Moderate intercept length.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 9.1m @ 1.0g/t Au from 0m in RBRC026

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### RBRC025

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-27)

Red Bird North · gold

#### Identity

- Hole ID: RBRC025
- Project: Red Bird North
- Commodity: gold
- Region: usa\_az
- Reported Region: usa\_az
- Ticker: SQX

#### Geometry

- Grade: 0.9
- Grade Unit: g/t
- Intercept: 9.1 m
- From: 0 m
- To: 9.1 m
- Intercept Depth: 0 m

#### Classification

- Deposit Type: epithermal
- Program: exploration
- Sample Type: drill
- Group ID: RBRC025:0-9.1
- Mining Method: open\_pit

#### Location

- Location: Main Zone
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows moderate gold grade from surface over a moderate width, indicating near-surface mineralization, though its novelty is low.

- Positive factor: Moderate gold grade from surface, indicating near-surface mineralization.

- Positive factor: Moderate intercept length.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 9.1m @ 0.9g/t Au from surface in RBRC025

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 29

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-28)

Williams Gold-Silver Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Williams Gold-Silver Project
- Commodity: gold
- Region: usa\_mt
- Reported Region: Montana, USA
- Ticker: SQX

#### Geometry

- Grade: 75.1
- Grade Unit: g/t
- Intercept: 0.6 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: underground

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2025-11-18T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical channel sample shows bonanza-grade gold and high-grade silver over a narrow width, indicating very high-grade zones within the epithermal vein system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Associated with high-grade silver.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Narrow intercept length for channel sampling.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 0.6m @ 75.1g/t Au + 576g/t Ag \(backs\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 30

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-29)

Williams Gold-Silver Project · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Williams Gold-Silver Project
- Commodity: silver
- Region: usa\_mt
- Reported Region: Montana, USA
- Ticker: SQX

#### Geometry

- Grade: 576
- Grade Unit: g/t
- Intercept: 0.6 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: underground

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2025-11-18T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical channel sample shows bonanza-grade silver and high-grade gold over a narrow width, indicating very high-grade zones within the epithermal vein system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade silver for an epithermal deposit.

- Positive factor: Associated with high-grade gold.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Narrow intercept length for channel sampling.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 0.6m @ 75.1g/t Au + 576g/t Ag \(backs\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 31

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-30)

Williams Gold-Silver Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Williams Gold-Silver Project
- Commodity: gold
- Region: usa\_mt
- Reported Region: Montana, USA
- Ticker: SQX

#### Geometry

- Grade: 40.7
- Grade Unit: g/t
- Intercept: 0.7 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: underground

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2025-11-18T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical channel sample shows bonanza-grade gold and high-grade silver over a narrow width, indicating very high-grade zones within the epithermal vein system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade gold for an epithermal deposit.

- Positive factor: Associated with high-grade silver.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Narrow intercept length for channel sampling.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 0.7m @ 40.7g/t Au + 319g/t Ag \(western drive face\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 32

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-31)

Williams Gold-Silver Project · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Williams Gold-Silver Project
- Commodity: silver
- Region: usa\_mt
- Reported Region: Montana, USA
- Ticker: SQX

#### Geometry

- Grade: 319
- Grade Unit: g/t
- Intercept: 0.7 m

#### Classification

- Deposit Type: epithermal
- Sample Type: channel
- Mining Method: underground

#### QA/QC

- QA/QC Disclosed: Yes
- Lab Certified: No
- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Compositing

- Dilution Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2025-11-18T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical channel sample shows bonanza-grade silver and high-grade gold over a narrow width, indicating very high-grade zones within the epithermal vein system, though its novelty is low.

- Positive factor: Exceptional bonanza-grade silver for an epithermal deposit.

- Positive factor: Associated with high-grade gold.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Narrow intercept length for channel sampling.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 0.7m @ 40.7g/t Au + 319g/t Ag \(western drive face\)

#### Tags used in scoring

**QA/QC Disclosed**

Polarity: positive

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

Why it applies: qaqc\_disclosed is true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 33

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-32)

Scrub Paddock · gold

Historical result

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Scrub Paddock
- Commodity: gold
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: SQX

#### Geometry

- Grade: 1.2
- Grade Unit: g/t
- Intercept: 28 m
- From: 101 m
- To: 129 m
- Intercept Depth: 101 m

#### Classification

- Sample Type: drill
- Group ID: Scrub\_Paddock:101-129

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2023-02-16T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a good width of moderate-grade gold, indicating mineralization potential, though its novelty is very low as it's a re-release from an older prospectus.

- Positive factor: Good intercept length for gold mineralization.

- Positive factor: Moderate gold grade.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 28m @ 1.2g/t Au from 101m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 34

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-33)

Scrub Paddock · gold

Historical result

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Scrub Paddock
- Commodity: gold
- Region: australia\_qld
- Reported Region: australia\_qld
- Ticker: SQX

#### Geometry

- Grade: 1
- Grade Unit: g/t
- Intercept: 12 m
- From: 42 m
- To: 54 m
- Intercept Depth: 42 m

#### Classification

- Sample Type: drill
- Group ID: Scrub\_Paddock:42-54

#### QA/QC

- QP Signed: Yes

#### Deleterious

- Deleterious Flag: No

#### Metal Equivalent

- Assumptions Disclosed: No

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: Yes
- Historical Source Date: 2023-02-16T00:00:00.000Z

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: This historical drill intercept shows a moderate width of moderate-grade gold, indicating mineralization potential, though its novelty is very low as it's a re-release from an older prospectus.

- Positive factor: Moderate intercept length for gold mineralization.

- Positive factor: Moderate gold grade.

- Negative factor: Result is a re-release of historical data, limiting novelty.

- Negative factor: Apparent width only, true width not stated.

Evidence · text

> 12m @ 1.0g/t Au from 42m

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Data Re-release**

Polarity: negative

Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty.

Why it applies: the fact restates a prior release

### Fact 35

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-34)

Red Bird Gold Project

#### Identity

- Project: Red Bird Gold Project
- Region: usa\_az
- Reported Region: Arizona, USA
- Ticker: SQX

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The acquisition of AM6 Pty Ltd was a significant strategic move, providing SQX with advanced gold-silver projects in the US and aligning vendor interests with project success, though the announcement itself is a summary of a past event.

- Positive factor: Acquisition of 80% interest in AM6 Pty Ltd, securing two advanced gold-silver projects.

- Positive factor: Consideration includes performance rights aligned with exploration and development milestones.

- Positive factor: Strategic expansion into the US minerals sector.

- Negative factor: Acquisition is a re-release of a previously announced event, limiting novelty.

Evidence · text

> On 14 October 2025, SQX entered into a binding agreement to acquire 80% of the issued share capital of AM6 Pty Ltd, the holder of the Williams Gold-Silver Project in Montana, USA and the Red Bird Gold Project in Arizona, USA, subject to satisfaction of conditions precedent including shareholder approval, due diligence and regulatory/third-party consents. Total consideration comprised: ▪ 20,000,000 fully paid ordinary shares in SQX \(Consideration Shares\); ▪ $250,000 in cash \(Consideration Payment\); and ▪ 30,000,000 Performance Rights, vesting in tranches of 10,000,000 upon satisfaction of defined exploration and development milestones. Completion of the acquisition occurred on 7 January 2026, securing SQX an 80% interest in AM6 and its portfolio of advanced gold exploration projects in the western United States.

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 36

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-35)

#### Identity

- Ticker: SQX

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The successful $2 million placement provided essential funding for the company's strategic acquisition and exploration activities, demonstrating investor confidence, though the announcement itself is a summary of a past event.

- Positive factor: Successful capital raise providing funds for acquisition costs, exploration, and working capital.

- Positive factor: Placement to professional and sophisticated investors.

- Negative factor: Placement is a re-release of a previously announced event, limiting novelty.

Evidence · text

> During the year, SQX completed a placement to professional and sophisticated investors raising $2,000,000 \(before costs\) via the issue of 20,000,000 new shares at A$0.10 per share. Proceeds were applied to acquisition costs, exploration activities across the AM6 projects and working capital. The placement occurred in two tranches: Tranche 1 comprised 7,812,500 shares issued under the Company’s existing capacity pursuant to Listing Rules 7.1 and 7.1A on 22 October 2025, and Tranche 2 comprised the remaining 12,187,500 shares issued following receipt of shareholder approval under Listing Rule 7.1 at the Company’s Annual General Meeting held on 28 November 2025.

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### Fact 37

[Link to this fact](https://atlas-staging.minestarters.com/news/sqx-annual-report-to-shareholders--effbadb5-ddae-4594-8fa4-0e93c3b36462#fact-drill-facts-36)

#### Identity

- Ticker: SQX

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-09-30T00:00:00.000Z

Reasoning: The successful and fully underwritten entitlement offer significantly boosts the company's financial position for future activities, although the lower issue price suggests some dilution for existing shareholders.

- Positive factor: Successful completion of a fully underwritten entitlement offer, raising significant capital.

- Positive factor: Provides additional funding for future operations and exploration activities.

- Negative factor: Issue price of $0.04 per share is lower than the previous placement price of $0.10, indicating dilution.

Evidence · text

> On 21 August 2026, the Company announced a fully underwritten non-renounceable pro rata entitlement offer of two \(2\) new shares for every three \(3\) shares held at an issue price of $0.04 per share to raise approximately $2.47 million \(before costs\) through the issue of up to 61,700,000 fully paid ordinary shares. ... On 21 September 2026, the Company announced the completion of the fully underwritten non-renounceable pro rata entitlement successfully raising $2.47 million \(before costs\).

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

## 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.