# VRL: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03146263 Publisher: asx Original announcement: 2026-09-30T05:14:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-30T06:27:07.549Z Atlas analysis updated: 2026-09-30T06:27:07.549Z - Company: Verity Resources Limited - Ticker: VRL - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: Copper, Silver, Nickel, Platinum, Palladium, Rhodium, Ruthenium, Rare earth elements, Cerium, Lanthanum, Neodymium, Praseodymium, Gallium, Cobalt - Document categories: Drill results, Resource update, Metallurgy - Extracted: 2026-09-30 06:27:08 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Verity Resources Limited reported a maiden Indicated Mineral Resource of 1.18Mt at 1.75g/t Au for 66,200 ounces at its Monument Gold Project in Western Australia, contributing to a total updated resource of 2.5Mt at 1.72g/t Au for 137,700 ounces. Metallurgical test work showed high gold recoveries above 92% from both Korong and Waihi deposits, supporting a conventional processing strategy. The company also completed significant drill campaigns, acquired 100% ownership of its Botswana portfolio, and conducted exploration in Brazil. Reasoning: Verity Resources Limited reported a maiden Indicated Mineral Resource for its Monument Gold Project, demonstrating strong gold grades and high metallurgical recoveries, alongside successful exploration drilling and corporate milestones like the acquisition of 100% ownership in Botswana. - Positive factor: Maiden Indicated Resource - Positive factor: High Recovery - Positive factor: Resource Grade Improvement - Positive factor: Step-Out Extension - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed - Positive factor: QP/CP Signed - Positive factor: JORC Compliant - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Positive factor: Category Upgrade - Positive factor: Multi-Domain Tested - Positive factor: Low Cyanide Consumption - Positive factor: Low Lime Consumption - Negative factor: Inferred Resource - Negative factor: All Inferred - Negative factor: Stale Estimate - Negative factor: Historical Estimate Only - Negative factor: Metal Equivalent Opaque Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 85 ## Classification and evidence **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 2 distinct composites were tested ## Extracted facts Stored fact records: 85. Some facts used in scoring do not have a stored record. ## Drill Results (53) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-18) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 6.37 - Grade Unit: g/t - Intercept: 7.7 m - True Width: 7.7 m - From: 78 m - To: 85.7 m - Intercept Depth: 78 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:78-85.7 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade gold intercept with stated true width from the Korong deposit, indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 7.7m at 6.37g/t Au from 78m, including 1m at 38.0g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 7.7 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-19) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 38 - Grade Unit: g/t - Intercept: 1 m - True Width: 1 m - From: 78 m - To: 79 m - Intercept Depth: 78 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:78-79 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Exceptional high-grade sub-interval within a broader intercept, indicating very strong gold mineralization. - Positive factor: Bonanza Intercept - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 1m at 38.0g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 1 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-20) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 6.35 - Grade Unit: g/t - Intercept: 3.9 m - True Width: 3.9 m - From: 96 m - To: 99.9 m - Intercept Depth: 96 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:96-99.9 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade gold intercept with stated true width from the Korong deposit, indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 3.9m at 6.35g/t Au from 96m, including 1m at 15.3g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 3.9 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-21) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 15.3 - Grade Unit: g/t - Intercept: 1 m - True Width: 1 m - From: 96 m - To: 97 m - Intercept Depth: 96 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:96-97 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade sub-interval within a broader intercept, indicating strong gold mineralization. - Positive factor: Bonanza Intercept - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 1m at 15.3g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 1 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-22) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 5.76 - Grade Unit: g/t - Intercept: 3.9 m - True Width: 3.9 m - From: 43 m - To: 46.9 m - Intercept Depth: 43 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:43-46.9 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade gold intercept with stated true width from the Korong deposit, indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 3.9m at 5.76g/t Au from 43m, including 2m at 9.55g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 3.9 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-23) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 9.55 - Grade Unit: g/t - Intercept: 2 m - True Width: 2 m - From: 43 m - To: 45 m - Intercept Depth: 43 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:43-45 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade sub-interval within a broader intercept, indicating strong gold mineralization. - Positive factor: Bonanza Intercept - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 2m at 9.55g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 2 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-24) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 4.84 - Grade Unit: g/t - Intercept: 6.8 m - True Width: 6.8 m - From: 114 m - To: 120.8 m - Intercept Depth: 114 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:114-120.8 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade gold intercept with stated true width from the Korong deposit, indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 6.8m at 4.84g/t Au from 114m, including 3m at 9.89g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 6.8 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-25) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 9.89 - Grade Unit: g/t - Intercept: 3 m - True Width: 3 m - From: 114 m - To: 117 m - Intercept Depth: 114 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:114-117 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade sub-interval within a broader intercept, indicating strong gold mineralization. - Positive factor: Bonanza Intercept - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 3m at 9.89g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 3 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-26) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 1.65 - Grade Unit: g/t - Intercept: 19.4 m - True Width: 19.4 m - From: 84 m - To: 103.4 m - Intercept Depth: 84 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:84-103.4 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Significant width gold intercept with stated true width from the Korong deposit, indicating good continuity. - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 19.4m at 1.65g/t Au from 84m, including 5.8m at 2.25g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 19.4 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 10 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-27) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 2.25 - Grade Unit: g/t - Intercept: 5.8 m - True Width: 5.8 m - From: 84 m - To: 89.8 m - Intercept Depth: 84 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:84-89.8 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Good grade sub-interval within a broader intercept, contributing to the overall mineralization. - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 5.8m at 2.25g/t Au #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 5.8 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 11 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-28) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 3.91 - Grade Unit: g/t - Intercept: 4.8 m - True Width: 4.8 m - From: 97 m - To: 101.8 m - Intercept Depth: 97 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:97-101.8 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Good grade gold intercept with stated true width from the Korong deposit, indicating consistent mineralization. - Positive factor: True Width Disclosed - Positive factor: QA/QC Disclosed Evidence · text > 4.8m at 3.91g/t Au from 97m. #### Tags used in scoring **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: true\_width\_m is 4.8 **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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 12 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-29) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 4.46 - Grade Unit: g/t - Intercept: 4.8 m - From: 60 m - To: 64.8 m - Intercept Depth: 60 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:60-64.8 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade gold intercept from Waihi infill drilling, confirming consistent mineralization. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed Evidence · text > 4.8m at 4.46g/t Au from 60m, including 0.8m at 13.05g/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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 13 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-30) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 13.05 - Grade Unit: g/t - Intercept: 0.8 m - From: 60 m - To: 60.8 m - Intercept Depth: 60 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:60-60.8 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade sub-interval within a broader intercept, indicating strong gold mineralization. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed Evidence · text > 0.8m at 13.05g/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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 14 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-31) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 4.67 - Grade Unit: g/t - Intercept: 3 m - From: 71 m - To: 74 m - Intercept Depth: 71 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:71-74 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade gold intercept from Waihi infill drilling, confirming consistent mineralization. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed Evidence · text > 3.0m at 4.67g/t Au from 71m, including 0.8m at 16.2g/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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 15 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-32) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 16.2 - Grade Unit: g/t - Intercept: 0.8 m - From: 71 m - To: 71.8 m - Intercept Depth: 71 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:71-71.8 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade sub-interval within a broader intercept, indicating strong gold mineralization. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed Evidence · text > 0.8m at 16.2g/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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 16 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-33) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 5.41 - Grade Unit: g/t - Intercept: 2.4 m - From: 87 m - To: 89.4 m - Intercept Depth: 87 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:87-89.4 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade gold intercept from Waihi infill drilling, confirming consistent mineralization. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed Evidence · text > 2.4m at 5.41g/t Au from 87m #### 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 17 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-34) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 4.14 - Grade Unit: g/t - Intercept: 3.2 m - From: 110 m - To: 113.2 m - Intercept Depth: 110 m #### Classification - Deposit Type: orogenic - Program: mixed - Sample Type: drill - Group ID: Monument:110-113.2 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade gold intercept from Waihi infill drilling, confirming consistent mineralization. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed Evidence · text > 3.2m at 4.14g/t Au from 110m. #### 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "mixed" ### Fact 18 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-35) Monument · gold Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 13.15 - Grade Unit: g/t - Intercept: 6.7 m #### Classification - Deposit Type: orogenic - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical high-grade gold intercept at Korong/Waihi, confirmed by recent validation, adding confidence to the resource. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 6.7m at 13.15g/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 **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 19 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-36) Monument · gold Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 7.24 - Grade Unit: g/t - Intercept: 5.9 m #### Classification - Deposit Type: orogenic - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical high-grade gold intercept at Korong/Waihi, confirmed by recent validation, adding confidence to the resource. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 5.9m at 7.24g/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 **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 ### KODD25004 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-37) Monument · gold #### Identity - Hole ID: KODD25004 - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 0.74 - Grade Unit: g/t - Intercept: 2.4 m - From: 319 m - To: 321.4 m - Intercept Depth: 319 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: KODD25004:319-321.4 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Step-out drilling at Korong extended mineralization at depth, indicating potential for further resource growth. - Positive factor: Step-Out Extension - Positive factor: QA/QC Disclosed Evidence · text > Diamond hole KODD25004 returned 2.4m at 0.74g/t Au from 319m #### 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 21 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-38) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 2.51 - Grade Unit: g/t - Intercept: 2.9 m - From: 8 m - To: 10.9 m - Intercept Depth: 8 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: Monument:8-10.9 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Shallow step-out intercept at Korong, extending mineralization near surface. - Positive factor: Step-Out Extension - Positive factor: QA/QC Disclosed Evidence · text > Shallow step-out intercepts included 2.9m at 2.51g/t Au from 8m #### 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 22 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-39) Monument · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 1.31 - Grade Unit: g/t - Intercept: 1.9 m - From: 52 m - To: 53.9 m - Intercept Depth: 52 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: Monument:52-53.9 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Shallow step-out intercept at Korong, extending mineralization near surface. - Positive factor: Step-Out Extension - Positive factor: QA/QC Disclosed Evidence · text > 1.9m at 1.31g/t Au from 52m. #### 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 ### WHRC25007 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-40) Monument · gold #### Identity - Hole ID: WHRC25007 - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 5.27 - Grade Unit: g/t - Intercept: 3.2 m - From: 60 m - To: 63.2 m - Intercept Depth: 60 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: WHRC25007:60-63.2 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade step-out intercept at Waihi, significantly extending mineralization outside the main resource envelope. - Positive factor: Bonanza Intercept - Positive factor: Step-Out Extension - Positive factor: QA/QC Disclosed Evidence · text > Hole WHRC25007 returned 3.2m at 5.27g/t Au from 60m, including 0.8m at 21.3g/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 ### WHRC25007 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-41) Monument · gold #### Identity - Hole ID: WHRC25007 - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 21.3 - Grade Unit: g/t - Intercept: 0.8 m - From: 60 m - To: 60.8 m - Intercept Depth: 60 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: WHRC25007:60-60.8 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Exceptional high-grade sub-interval within a step-out intercept, indicating very strong gold mineralization. - Positive factor: Bonanza Intercept - Positive factor: Step-Out Extension - Positive factor: QA/QC Disclosed Evidence · text > 0.8m at 21.3g/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 ### WHDD25001 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-42) Monument · gold #### Identity - Hole ID: WHDD25001 - Project: Monument - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 4.2 - Grade Unit: g/t - Intercept: 0.9 m - From: 179 m - To: 179.9 m - Intercept Depth: 179 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: WHDD25001:179-179.9 #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Step-out intercept at Waihi, extending mineralization at depth, indicating potential for further resource growth. - Positive factor: Bonanza Intercept - Positive factor: Step-Out Extension - Positive factor: QA/QC Disclosed Evidence · text > Diamond hole WHDD25001 returned 0.9m at 4.20g/t Au from 179m #### 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 26 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-43) Perseverance · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Perseverance - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 1.24 - Grade Unit: g/t - Intercept: 2 m - From: 86 m - To: 88 m - Intercept Depth: 86 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: Perseverance:86-88 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: First-pass drilling at Perseverance confirmed target stratigraphy with gold mineralization, indicating new prospectivity. - Positive factor: QA/QC Disclosed Evidence · text > 2m at 1.24g/t Au from 86m #### 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 27 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-44) Perseverance · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Perseverance - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 0.73 - Grade Unit: g/t - Intercept: 2 m - From: 66 m - To: 68 m - Intercept Depth: 66 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: Perseverance:66-68 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: First-pass drilling at Perseverance confirmed target stratigraphy with gold mineralization, indicating new prospectivity. - Positive factor: QA/QC Disclosed Evidence · text > 2m at 0.73g/t Au from 66m #### 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 28 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-45) A1 · gold Needs review: drill\_no\_hole\_id #### Identity - Project: A1 - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 2.51 - Grade Unit: g/t - Intercept: 2.9 m - From: 8 m - To: 10.9 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: A1:8-10.9 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: RC drilling at A1 returned good shallow gold intercepts, indicating further exploration potential. - Positive factor: QA/QC Disclosed Evidence · text > 2.9m at 2.51g/t Au from 8m #### 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/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-46) A1 · gold Needs review: drill\_no\_hole\_id #### Identity - Project: A1 - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: VRL #### Geometry - Grade: 1.29 - Grade Unit: g/t - Intercept: 1.9 m - From: 8 m - To: 9.9 m - Intercept Depth: 8 m #### Classification - Program: exploration - Sample Type: drill - Group ID: A1:8-9.9 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: RC drilling at A1 returned good shallow gold intercepts, indicating further exploration potential. - Positive factor: QA/QC Disclosed Evidence · text > 1.9m at 1.29g/t Au from 8m. #### 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 ### ACRC003 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-47) Airstrip · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: ACRC003 - Project: Airstrip - Commodity: copper - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 7.63 - Grade Unit: % - Intercept: 11 m - From: 52 m - To: 63 m - Intercept Depth: 52 m #### Classification - Sample Type: drill - Group ID: ACRC003:52-63 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical high-grade copper intercept at Airstrip, demonstrating significant mineralization potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 11m at 7.63% Cu and 462g/t Ag from 52m, including 3m at 22.74% Cu and 1,379g/t Ag \(Airstrip, ACRC003\) #### 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 ### ACRC003 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-48) Airstrip · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: ACRC003 - Project: Airstrip - Commodity: silver - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 462 - Grade Unit: g/t - Intercept: 11 m - From: 52 m - To: 63 m - Intercept Depth: 52 m #### Classification - Sample Type: drill - Group ID: ACRC003:52-63 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical high-grade silver intercept at Airstrip, demonstrating significant mineralization potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 11m at 7.63% Cu and 462g/t Ag from 52m, including 3m at 22.74% Cu and 1,379g/t Ag \(Airstrip, ACRC003\) #### 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 ### ACRC003 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-49) Airstrip · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: ACRC003 - Project: Airstrip - Commodity: copper - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 22.74 - Grade Unit: % - Intercept: 3 m - From: 52 m - To: 55 m - Intercept Depth: 52 m #### Classification - Sample Type: drill - Group ID: ACRC003:52-55 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical bonanza-grade copper sub-interval at Airstrip, highlighting very high-grade potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 3m at 22.74% Cu and 1,379g/t Ag #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### ACRC003 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-50) Airstrip · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: ACRC003 - Project: Airstrip - Commodity: silver - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 1379 - Grade Unit: g/t - Intercept: 3 m - From: 52 m - To: 55 m - Intercept Depth: 52 m #### Classification - Sample Type: drill - Group ID: ACRC003:52-55 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical bonanza-grade silver sub-interval at Airstrip, highlighting very high-grade potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 3m at 22.74% Cu and 1,379g/t Ag #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### ACRD029 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-51) Airstrip · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: ACRD029 - Project: Airstrip - Commodity: copper - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 21.58 - Grade Unit: % - Intercept: 1.13 m - From: 65 m - To: 66.13 m - Intercept Depth: 65 m #### Classification - Sample Type: drill - Group ID: ACRD029:65-66.13 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical bonanza-grade copper intercept at Airstrip, demonstrating very high-grade potential over a narrow width. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 1.13m at 21.58% Cu and 1,023g/t Ag from 65m, including 0.25m at 60.98% Cu and 2,833g/t Ag \(Airstrip, ACRD029\) #### 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 ### ACRD029 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-52) Airstrip · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: ACRD029 - Project: Airstrip - Commodity: silver - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 1023 - Grade Unit: g/t - Intercept: 1.13 m - From: 65 m - To: 66.13 m - Intercept Depth: 65 m #### Classification - Sample Type: drill - Group ID: ACRD029:65-66.13 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical bonanza-grade silver intercept at Airstrip, demonstrating very high-grade potential over a narrow width. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 1.13m at 21.58% Cu and 1,023g/t Ag from 65m, including 0.25m at 60.98% Cu and 2,833g/t Ag \(Airstrip, ACRD029\) #### 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 ### ACRD029 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-53) Airstrip · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: ACRD029 - Project: Airstrip - Commodity: copper - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 60.98 - Grade Unit: % - Intercept: 0.25 m - From: 65 m - To: 65.25 m - Intercept Depth: 65 m #### Classification - Sample Type: drill - Group ID: ACRD029:65-65.25 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical bonanza-grade copper sub-interval at Airstrip, highlighting extremely high-grade potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 0.25m at 60.98% Cu and 2,833g/t Ag #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### ACRD029 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-54) Airstrip · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: ACRD029 - Project: Airstrip - Commodity: silver - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 2833 - Grade Unit: g/t - Intercept: 0.25 m - From: 65 m - To: 65.25 m - Intercept Depth: 65 m #### Classification - Sample Type: drill - Group ID: ACRD029:65-65.25 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical bonanza-grade silver sub-interval at Airstrip, highlighting extremely high-grade potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 0.25m at 60.98% Cu and 2,833g/t Ag #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DBRC124 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-55) Dibete · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DBRC124 - Project: Dibete - Commodity: copper - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 2.17 - Grade Unit: % - Intercept: 25 m - From: 27 m - To: 52 m - Intercept Depth: 27 m #### Classification - Sample Type: drill - Group ID: DBRC124:27-52 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical wide copper intercept at Dibete, indicating significant mineralization over a substantial width. - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 25m at 2.17% Cu and 77g/t Ag from 27m \(Dibete, DBRC124\) #### 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 ### DBRC124 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-56) Dibete · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: DBRC124 - Project: Dibete - Commodity: silver - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 77 - Grade Unit: g/t - Intercept: 25 m - From: 27 m - To: 52 m - Intercept Depth: 27 m #### Classification - Sample Type: drill - Group ID: DBRC124:27-52 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical wide silver intercept at Dibete, indicating significant mineralization over a substantial width. - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 25m at 2.17% Cu and 77g/t Ag from 27m \(Dibete, DBRC124\) #### 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 40 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-57) Dibete · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Dibete - Commodity: copper - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 1.37 - Grade Unit: % - Intercept: 36 m - From: 12 m - To: 48 m - Intercept Depth: 12 m #### Classification - Sample Type: drill - Group ID: Dibete:12-48 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical very wide copper intercept at Dibete, demonstrating significant mineralization over a substantial width. - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 36m at 1.37% Cu and 70g/t Ag from 12m, including 2.5m at 7.41% Cu and 456g/t Ag \(Dibete\) #### 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 41 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-58) Dibete · silver Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Dibete - Commodity: silver - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 70 - Grade Unit: g/t - Intercept: 36 m - From: 12 m - To: 48 m - Intercept Depth: 12 m #### Classification - Sample Type: drill - Group ID: Dibete:12-48 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical very wide silver intercept at Dibete, demonstrating significant mineralization over a substantial width. - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 36m at 1.37% Cu and 70g/t Ag from 12m, including 2.5m at 7.41% Cu and 456g/t Ag \(Dibete\) #### 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 42 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-59) Dibete · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Dibete - Commodity: copper - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 7.41 - Grade Unit: % - Intercept: 2.5 m - From: 12 m - To: 14.5 m - Intercept Depth: 12 m #### Classification - Sample Type: drill - Group ID: Dibete:12-14.5 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical high-grade copper sub-interval at Dibete, highlighting strong mineralization potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 2.5m at 7.41% Cu and 456g/t Ag #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 43 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-60) Dibete · silver Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Dibete - Commodity: silver - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 456 - Grade Unit: g/t - Intercept: 2.5 m - From: 12 m - To: 14.5 m - Intercept Depth: 12 m #### Classification - Sample Type: drill - Group ID: Dibete:12-14.5 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical high-grade silver sub-interval at Dibete, highlighting strong mineralization potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 2.5m at 7.41% Cu and 456g/t Ag #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DBRD149 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-61) Dibete · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DBRD149 - Project: Dibete - Commodity: copper - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 7.2 - Grade Unit: % - Intercept: 6.15 m - From: 24.85 m - To: 31 m - Intercept Depth: 24.85 m #### Classification - Sample Type: drill - Group ID: DBRD149:24.85-31 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical high-grade copper intercept at Dibete, demonstrating strong mineralization potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 6.15m at 7.20% Cu and 182g/t Ag from 24.85m \(Dibete, DBRD149\) #### 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 ### DBRD149 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-62) Dibete · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: DBRD149 - Project: Dibete - Commodity: silver - Region: botswana - Reported Region: botswana - Ticker: VRL #### Geometry - Grade: 182 - Grade Unit: g/t - Intercept: 6.15 m - From: 24.85 m - To: 31 m - Intercept Depth: 24.85 m #### Classification - Sample Type: drill - Group ID: DBRD149:24.85-31 #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Historical high-grade silver intercept at Dibete, demonstrating strong mineralization potential. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed - Negative factor: Stale Data Re-release Evidence · text > 6.15m at 7.20% Cu and 182g/t Ag from 24.85m \(Dibete, DBRD149\) #### 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 46 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-63) Pimenta REE · rare earth elements Needs review: drill\_no\_hole\_id #### Identity - Project: Pimenta REE - Commodity: rare earth elements - Region: brazil - Reported Region: brazil - Ticker: VRL #### Geometry - Grade: 2250 - Grade Unit: ppm - Intercept: 5 m #### Classification - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Maiden auger drilling confirmed widespread near-surface REE mineralization, indicating significant exploration potential. - Positive factor: QA/QC Disclosed Evidence · text > 5m at 2,250ppm TREO, 26% MREO #### 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 47 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-64) Pimenta REE · rare earth elements Needs review: drill\_no\_hole\_id #### Identity - Project: Pimenta REE - Commodity: rare earth elements - Region: brazil - Reported Region: brazil - Ticker: VRL #### Geometry - Grade: 2683 - Grade Unit: ppm - Intercept: 4 m #### Classification - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Maiden auger drilling confirmed widespread near-surface REE mineralization, indicating significant exploration potential. - Positive factor: QA/QC Disclosed Evidence · text > 4m at 2,683ppm TREO, 26% MREO #### 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 ### PMT-AUG-016 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-65) Pimenta REE · rare earth elements #### Identity - Hole ID: PMT-AUG-016 - Project: Pimenta REE - Commodity: rare earth elements - Region: brazil - Reported Region: brazil - Ticker: VRL #### Geometry - Grade: 2204 - Grade Unit: ppm - Intercept: 4 m #### Classification - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Maiden auger drilling confirmed widespread near-surface REE mineralization, indicating significant exploration potential. - Positive factor: QA/QC Disclosed Evidence · text > 4m at 2,204ppm TREO, 26% MREO \(PMT-AUG-016\) #### 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 49 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-66) Pimenta REE · rare earth elements Needs review: drill\_no\_hole\_id #### Identity - Project: Pimenta REE - Commodity: rare earth elements - Region: brazil - Reported Region: brazil - Ticker: VRL #### Geometry - Grade: 2322 - Grade Unit: ppm - Intercept: 4 m #### Classification - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Maiden auger drilling confirmed widespread near-surface REE mineralization, indicating significant exploration potential. - Positive factor: QA/QC Disclosed Evidence · text > 4m at 2,322ppm TREO, 24% MREO, including 1m at 4,171ppm TREO #### 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 50 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-67) Pimenta REE · rare earth elements Needs review: drill\_no\_hole\_id #### Identity - Project: Pimenta REE - Commodity: rare earth elements - Region: brazil - Reported Region: brazil - Ticker: VRL #### Geometry - Grade: 4171 - Grade Unit: ppm - Intercept: 1 m #### Classification - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade sub-interval within a broader REE intercept, indicating strong mineralization. - Positive factor: Bonanza Intercept - Positive factor: QA/QC Disclosed Evidence · text > 1m at 4,171ppm TREO #### 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 51 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-68) Pimenta REE · rare earth elements Needs review: drill\_no\_hole\_id #### Identity - Project: Pimenta REE - Commodity: rare earth elements - Region: brazil - Reported Region: brazil - Ticker: VRL #### Geometry - Grade: 2193 - Grade Unit: ppm - Intercept: 7 m #### Classification - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Maiden auger drilling confirmed widespread near-surface REE mineralization, indicating significant exploration potential. - Positive factor: QA/QC Disclosed Evidence · text > 7m at 2,193ppm TREO, 28% MREO #### 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 52 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-69) Pimenta REE · gallium Needs review: drill\_no\_hole\_id #### Identity - Project: Pimenta REE - Commodity: gallium - Region: brazil - Reported Region: brazil - Ticker: VRL #### Geometry - Grade: 62 - Grade Unit: ppm Ga₂O₃ - Intercept: 4 m #### Classification - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Anomalous gallium returned from auger drilling, indicating potential for critical mineral byproducts. - Positive factor: QA/QC Disclosed Evidence · text > 4m at 62ppm Ga₂O₃, including 1m at 77ppm Ga₂O₃. #### 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 53 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-drill-facts-70) Pimenta REE · gallium Needs review: drill\_no\_hole\_id #### Identity - Project: Pimenta REE - Commodity: gallium - Region: brazil - Reported Region: brazil - Ticker: VRL #### Geometry - Grade: 77 - Grade Unit: ppm Ga₂O₃ - Intercept: 1 m #### Classification - Sample Type: drill #### QA/QC - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High-grade sub-interval for gallium, indicating strong potential for critical mineral byproducts. - Positive factor: QA/QC Disclosed Evidence · text > 1m at 77ppm Ga₂O₃ #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (26) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-0) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:7784ecef1d3b02b7fd7b - Deposit or zone: Korong #### Resource Data - Category: indicated - Tonnes: 920000 - Grade: 1.68 - Grade Unit: g/t - Contained Metal: 49.8 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a significant portion of the maiden Indicated Mineral Resource, reported under JORC 2012 standards for open pit mining. - Positive factor: Maiden Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth Evidence · table > 1.68 Context: 920,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-1) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:955610aa496c7cc4b8b6 - Deposit or zone: Korong #### Resource Data - Category: inferred - Tonnes: 50000 - Grade: 1.23 - Grade Unit: g/t - Contained Metal: 2.2 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a smaller inferred resource component for Korong open pit, contributing to the overall resource update. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource Evidence · table > 1.23 Context: 50,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-2) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:70f1ef6e38d2ab7a8973 - Deposit or zone: A1 \(Korong North\) #### Resource Data - Category: inferred - Tonnes: 40000 - Grade: 1.11 - Grade Unit: g/t - Contained Metal: 1.5 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a small inferred resource for A1, contributing to the overall resource update. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource Evidence · table > 1.11 Context: 40,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-3) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:5d8ff2f218c61bd0b575 - Deposit or zone: Waihi #### Resource Data - Category: indicated - Tonnes: 110000 - Grade: 2.11 - Grade Unit: g/t - Contained Metal: 7.2 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is an Indicated resource component for Waihi open pit, contributing to the maiden Indicated Mineral Resource. - Positive factor: Maiden Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth Evidence · table > 2.11 Context: 110,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-4) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:cd69a0fbc2947fd1ebce - Deposit or zone: Korong Main #### Resource Data - Category: indicated - Tonnes: 100000 - Grade: 1.67 - Grade Unit: g/t - Contained Metal: 5.4 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is an Indicated resource component for Korong underground, contributing to the maiden Indicated Mineral Resource. - Positive factor: Maiden Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth Evidence · table > 1.67 Context: 100,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-5) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:f35865f6a4502f98f7db - Deposit or zone: Korong Main #### Resource Data - Category: inferred - Tonnes: 1120000 - Grade: 1.72 - Grade Unit: g/t - Contained Metal: 61.9 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a significant inferred resource component for Korong underground, contributing to the overall resource update. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Negative factor: Inferred Resource Evidence · table > 1.72 Context: 1,120,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-6) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:e11eeaaf97a3c35be97a - Deposit or zone: Waihi #### Resource Data - Category: indicated - Tonnes: 50000 - Grade: 2.4 - Grade Unit: g/t - Contained Metal: 3.9 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is an Indicated resource component for Waihi underground, contributing to the maiden Indicated Mineral Resource. - Positive factor: Maiden Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth Evidence · table > 2.40 Context: 50,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-7) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:eb22e654d078b2cc0d38 - Deposit or zone: Waihi #### Resource Data - Category: inferred - Tonnes: 100000 - Grade: 1.79 - Grade Unit: g/t - Contained Metal: 6 - Contained Unit: koz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is an inferred resource component for Waihi underground, contributing to the overall resource update. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource Evidence · table > 1.79 Context: 100,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-8) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:9f079ef223e8b77c13a4 #### Resource Data - Category: indicated - Tonnes: 1180000 - Grade: 1.75 - Grade Unit: g/t - Contained Metal: 66.2 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The maiden Indicated Mineral Resource is a significant de-risking milestone for the project, demonstrating geological confidence. - Positive factor: Maiden Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Positive factor: Category Upgrade Evidence · table > 1.75 Context: 1,180,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-9) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:8b903bc9b382776ea1eb #### Resource Data - Category: inferred - Tonnes: 1320000 - Grade: 1.69 - Grade Unit: g/t - Contained Metal: 71.5 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a substantial inferred resource, indicating significant exploration potential but lower geological confidence than indicated resources. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Negative factor: Inferred Resource Evidence · table > 1.69 Context: 1,320,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-10) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Rick Gordon, Mark Zammit - Resource group id: resource:496e361e1fd85fb9da37 #### Resource Data - Category: indicated - Tonnes: 2500000 - Grade: 1.72 - Grade Unit: g/t - Contained Metal: 137.7 - Contained Unit: koz #### Prior Estimate - Resource Date: 2026-05-12 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The total updated Mineral Resource shows significant contained gold and an increase in average grade, reflecting successful drilling and geological modelling. - Positive factor: Maiden Indicated Resource - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Tonnage Growth - Positive factor: Contained Metal Growth - Positive factor: Resource Update - Positive factor: Grade Improvement Evidence · table > 1.72 Context: 2,500,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-11) Maibele North · nickel Historical result Needs review: historical\_restatement #### Identity - Project: Maibele North - Commodity: nickel - Region: botswana - Reported Region: Botswana - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Lemmon - Resource group id: resource:d5a1ca7efbee6dbc55fc #### Resource Data - Category: inferred - Tonnes: 2380000 - Grade: 0.72 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2015-04-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2015-04-01T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a historical inferred resource for nickel, indicating potential but requiring further work to upgrade confidence and confirm economic viability. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: All Inferred - Negative factor: Stale Estimate - Negative factor: Historical Estimate Only Evidence · table > 0.72 Context: 2.38 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 11.5 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-12) Maibele North · copper Historical result Needs review: historical\_restatement #### Identity - Project: Maibele North - Commodity: copper - Region: botswana - Reported Region: Botswana - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Lemmon - Resource group id: resource:d5a1ca7efbee6dbc55fc #### Resource Data - Category: inferred - Tonnes: 2380000 - Grade: 0.21 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2015-04-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2015-04-01T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a historical inferred resource for copper, indicating potential but requiring further work to upgrade confidence and confirm economic viability. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: All Inferred - Negative factor: Stale Estimate - Negative factor: Historical Estimate Only Evidence · table > 0.21 Context: 2.38 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 11.5 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-13) Maibele North · platinum Historical result Needs review: historical\_restatement #### Identity - Project: Maibele North - Commodity: platinum - Region: botswana - Reported Region: Botswana - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Lemmon - Resource group id: resource:d5a1ca7efbee6dbc55fc #### Resource Data - Category: inferred - Tonnes: 2380000 - Grade: 0.08 - Grade Unit: g/t - Cutoff Grade: 0.3 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2015-04-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2015-04-01T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a historical inferred resource for platinum, indicating potential but requiring further work to upgrade confidence and confirm economic viability. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: All Inferred - Negative factor: Stale Estimate - Negative factor: Historical Estimate Only Evidence · table > 0.08 Context: 2.38 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 11.5 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-14) Maibele North · palladium Historical result Needs review: historical\_restatement #### Identity - Project: Maibele North - Commodity: palladium - Region: botswana - Reported Region: Botswana - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Lemmon - Resource group id: resource:d5a1ca7efbee6dbc55fc #### Resource Data - Category: inferred - Tonnes: 2380000 - Grade: 0.36 - Grade Unit: g/t - Cutoff Grade: 0.3 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2015-04-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2015-04-01T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a historical inferred resource for palladium, indicating potential but requiring further work to upgrade confidence and confirm economic viability. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: All Inferred - Negative factor: Stale Estimate - Negative factor: Historical Estimate Only Evidence · table > 0.36 Context: 2.38 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 11.5 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-15) Maibele North · rhodium Historical result Needs review: historical\_restatement #### Identity - Project: Maibele North - Commodity: rhodium - Region: botswana - Reported Region: Botswana - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Lemmon - Resource group id: resource:d5a1ca7efbee6dbc55fc #### Resource Data - Category: inferred - Tonnes: 2380000 - Grade: 0.04 - Grade Unit: g/t - Cutoff Grade: 0.3 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2015-04-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2015-04-01T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a historical inferred resource for rhodium, indicating potential but requiring further work to upgrade confidence and confirm economic viability. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: All Inferred - Negative factor: Stale Estimate - Negative factor: Historical Estimate Only Evidence · table > 0.04 Context: 2.38 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 11.5 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-16) Maibele North · ruthenium Historical result Needs review: historical\_restatement #### Identity - Project: Maibele North - Commodity: ruthenium - Region: botswana - Reported Region: Botswana - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Lemmon - Resource group id: resource:d5a1ca7efbee6dbc55fc #### Resource Data - Category: inferred - Tonnes: 2380000 - Grade: 0.05 - Grade Unit: g/t - Cutoff Grade: 0.3 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2015-04-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2015-04-01T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a historical inferred resource for ruthenium, indicating potential but requiring further work to upgrade confidence and confirm economic viability. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: All Inferred - Negative factor: Stale Estimate - Negative factor: Historical Estimate Only Evidence · table > 0.05 Context: 2.38 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 11.5 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-17) Maibele North · gold Historical result Needs review: historical\_restatement #### Identity - Project: Maibele North - Commodity: gold - Region: botswana - Reported Region: Botswana - Ticker: VRL #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Lemmon - Resource group id: resource:d5a1ca7efbee6dbc55fc #### Resource Data - Category: inferred - Tonnes: 2380000 - Grade: 0.1 - Grade Unit: g/t - Cutoff Grade: 0.3 - Cutoff Unit: % Ni #### Prior Estimate - Resource Date: 2015-04-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2015-04-01T00:00:00.000Z #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: This is a historical inferred resource for gold, indicating potential but requiring further work to upgrade confidence and confirm economic viability. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Negative factor: Inferred Resource - Negative factor: All Inferred - Negative factor: Stale Estimate - Negative factor: Historical Estimate Only Evidence · table > 0.10 Context: 2.38 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 11.5 years before this release ### Fact 19 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-77) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - QP Signed: Yes - Resource group id: resource:61e0e622533a3acd54ae #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Low cyanide and lime consumption across all composites indicates favorable processing characteristics and potentially lower operating costs. - Positive factor: Low Cyanide Consumption - Positive factor: Low Lime Consumption - Positive factor: Gravity Route Evidence · text > Both deposits showed a meaningful gravity recoverable gold component and low cyanide and lime consumption across all composites. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 20 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-78) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - QP Signed: Yes - Resource group id: resource:61e0e622533a3acd54ae #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The results support a conventional and proven processing strategy, reducing technical risk for the project. - Positive factor: Gravity Route - Positive factor: Mill Route Evidence · text > The results support a conventional gravity front-end ahead of a cyanide leach circuit, and a single processing strategy across the project. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 21 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-79) Monument Gold Project #### Identity - Project: Monument Gold Project - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - QP Signed: Yes - Resource group id: resource:61e0e622533a3acd54ae #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The company completed a review and validation of historical drilling, bringing legacy data to JORC \(2012\) standards, which strengthens the dataset behind the updated MRE. - Positive factor: QA/QC Disclosed Evidence · text > the Group completed a review and validation of approximately 16,000 metres of historical drilling at Monument, bringing legacy data to JORC \(2012\) standards. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 22 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-80) Monument Gold Project #### Identity - Project: Monument Gold Project - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Resource scope - QP Signed: Yes - Resource group id: resource:61e0e622533a3acd54ae #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: A density study was completed, further strengthening the dataset behind the updated Mineral Resource Estimate. - Positive factor: QA/QC Disclosed Evidence · text > A density study of 222 diamond core samples was also completed. #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 23 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-81) Botswana portfolio #### Identity - Project: Botswana portfolio - Region: botswana - Reported Region: Botswana - Ticker: VRL #### Resource scope - Resource group id: resource:1e5e3f8c3fa04a7ca9a3 - Ownership percent: 100 % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Acquisition of 100% ownership of the Botswana portfolio provides full control and simplifies future development decisions. Evidence · text > The agreed purchase price was approximately US$206,000 in cash plus applicable taxes. Closing conditions were satisfied and the acquisition completed in December 2025, dissolving the joint venture and taking Verity to 100% ownership and control of the portfolio via its wholly owned Botswana subsidiary African Metals \(Pty\) Ltd. #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 24 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-82) Corporate #### Identity - Project: Corporate - Ticker: VRL #### Resource scope - Resource group id: resource:9d2ee816d484557d8ecf #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The placement successfully raised $3.0 million, providing capital for ongoing operations and exploration. Evidence · text > raising $3.0 million before costs at an issue price of $0.024 per share. #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 25 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-83) Corporate #### Identity - Project: Corporate - Ticker: VRL #### Resource scope - Resource group id: resource:9d2ee816d484557d8ecf #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: The entitlement offer successfully raised $2,045,655, providing additional capital for ongoing operations and exploration. Evidence · text > raising $2,045,655 \(before costs\) #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### Fact 26 [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-resource-facts-84) Corporate #### Identity - Project: Corporate - Ticker: VRL #### Resource scope - Resource group id: resource:9d2ee816d484557d8ecf #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Exercise of unlisted options raised $70,693, contributing to the company's working capital. Evidence · text > raising approximately $70,693. #### Tags used in scoring **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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## Metallurgical Results (6) ### cyanide leach [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-metallurgical-facts-71) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Test Work - Program Status: detailed - Test Type: cyanide leach - Processing Route: gravity front-end ahead of a cyanide leach circuit - Sample: Korong Low grade saprolite #### Recovery - Recovery: 89 % - Recovery Basis: actual\_test - Head Grade: 1.05 - Head Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Good gold recovery for low-grade saprolite material from Korong, supporting the project's processing strategy. - Positive factor: Multi-Domain Tested - Positive factor: QA/QC Disclosed Evidence · table > 89.0 Context: 1.05 #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### cyanide leach [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-metallurgical-facts-72) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Test Work - Program Status: detailed - Test Type: cyanide leach - Processing Route: gravity front-end ahead of a cyanide leach circuit - Sample: Korong Saprock, average grade, shallow #### Recovery - Recovery: 91.5 % - Recovery Basis: actual\_test - Head Grade: 1.12 - Head Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Strong gold recovery for average-grade shallow saprock material from Korong, supporting the project's processing strategy. - Positive factor: Multi-Domain Tested - Positive factor: QA/QC Disclosed Evidence · table > 91.5 Context: 1.12 #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### cyanide leach [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-metallurgical-facts-73) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Test Work - Program Status: detailed - Test Type: cyanide leach - Processing Route: gravity front-end ahead of a cyanide leach circuit - Sample: Korong Saprock, average grade, deep #### Recovery - Recovery: 94 % - Recovery Basis: actual\_test - Head Grade: 1.57 - Head Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: High gold recovery for average-grade deep saprock material from Korong, demonstrating excellent metallurgical performance. - Positive factor: High Recovery - Positive factor: Multi-Domain Tested - Positive factor: QA/QC Disclosed Evidence · table > 94.0 Context: 1.57 #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ### cyanide leach [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-metallurgical-facts-74) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Test Work - Program Status: detailed - Test Type: cyanide leach - Processing Route: gravity front-end ahead of a cyanide leach circuit - Sample: Korong High grade fresh #### Recovery - Recovery: 98.1 % - Recovery Basis: actual\_test - Head Grade: 3.46 - Head Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Exceptional gold recovery for high-grade fresh material from Korong, indicating very favorable metallurgical characteristics. - Positive factor: High Recovery - Positive factor: Multi-Domain Tested - Positive factor: QA/QC Disclosed Evidence · table > 98.1 Context: 3.46 #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 98.1% is at or above the exceptional band \(95%\) ### cyanide leach [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-metallurgical-facts-75) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Test Work - Program Status: detailed - Test Type: cyanide leach - Processing Route: gravity front-end ahead of a cyanide leach circuit - Sample: Waihi Saprock \(weathered oxide\) #### Recovery - Recovery: 96.99 % - Recovery Basis: actual\_test - Head Grade: 1.57 - Head Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Exceptional gold recovery for weathered oxide material from Waihi, demonstrating very favorable metallurgical characteristics. - Positive factor: High Recovery - Positive factor: Multi-Domain Tested - Positive factor: QA/QC Disclosed Evidence · table > 96.99 Context: 1.57 #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 96.99% is at or above the exceptional band \(95%\) ### cyanide leach [Link to this fact](https://atlas-staging.minestarters.com/news/vrl-annual-report-to-shareholders--5871c1e7-fc3c-4fce-9e8c-582e74650910#fact-metallurgical-facts-76) Monument Gold Project · gold #### Identity - Project: Monument Gold Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: VRL #### Test Work - Program Status: detailed - Test Type: cyanide leach - Processing Route: gravity front-end ahead of a cyanide leach circuit - Sample: Waihi Fresh sulphide BIF #### Recovery - Recovery: 96.67 % - Recovery Basis: actual\_test - Head Grade: 1.05 - Head Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-30T00:00:00.000Z Reasoning: Exceptional gold recovery for fresh sulphide BIF material from Waihi, demonstrating very favorable metallurgical characteristics even for sulphide ore. - Positive factor: High Recovery - Positive factor: Multi-Domain Tested - Positive factor: QA/QC Disclosed Evidence · table > 96.67 Context: 1.05 #### Tags used in scoring **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 96.67% is at or above the exceptional band \(95%\) ## 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.