# WCN: Annual Report to Shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03145716 Publisher: asx Original announcement: 2026-09-29T22:17:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T23:33:11.320Z Atlas analysis updated: 2026-09-29T23:33:11.320Z - Company: White Cliff Minerals Limited - Ticker: WCN - Exchange: ASX - Region: Nunavut, Canada - Primary commodity: Copper - Secondary commodities: Silver - Document categories: Drill results, Metallurgy, Agreement transaction - Extracted: 2026-09-29 23:33:12 UTC Narrative sentiment: 0.30 · Bullish ## Minestarters Atlas summary White Cliff Minerals Limited's Annual Report for FY26 highlights significant progress at its Rae Copper Project in Nunavut, Canada, including the expansion of a high-grade copper system and successful metallurgical testwork with high recoveries. The company also strategically consolidated its landholding through acquisitions and divestments. Despite these operational successes, the auditor's report raises a material uncertainty about the company's ability to continue as a going concern due to substantial losses and reliance on future funding. Reasoning: The company reported strong exploration results and positive metallurgical testwork for its Rae Copper Project, expanding the known mineralization and de-risking future development. However, the auditor's report raises a material uncertainty about the company's ability to continue as a going concern, which significantly impacts the overall outlook. - Positive factor: High-grade copper intercepts, including a new project-high grade of 21.1% Cu, significantly exceeding prior best results. - Positive factor: Successful step-out drilling extending copper mineralization over several kilometers with grades holding or strengthening, indicating district-scale potential. - Positive factor: Positive metallurgical testwork demonstrating high copper and silver recoveries \(peaking at 95.4% Cu, 93.3% Ag\) with a clean concentrate via conventional flotation, de-risking future development. - Positive factor: Strategic consolidation of the Herb Dixon Fault corridor through the acquisition of the Bornite Lake lease. - Negative factor: Auditor's report highlights a material uncertainty regarding the company's ability to continue as a going concern due to significant losses and reliance on future funding. Facts used in scoring: 39 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 1.52 m @ 21.1% Cu in DAN26012 is an exceptionally high-grade zone, well above the deposit-type norm and the highest reported from the project to date. Evidence · text > 1.52 m @ 21.1% Cu — the highest-grade interval reported from the project to that date **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The company reported that mineralization now extends over kilometers and grades have strengthened as drilling stepped further from the original discovery, with DAN26008 being the furthest north-east step-out. Evidence · text > Mineralisation now extends over kilometres rather than tens of metres, and what is very encouraging is that grades have held, and in places strengthened, as we have stepped further from the original discovery. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The document includes a Competent Persons Statement by Mr Eric Sondergaard, who is a member of recognized professional associations, indicating QA/QC disclosure. Evidence · text > The information in this announcement that relates to Exploration Results is based on information compiled by Mr Eric Sondergaard, who is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists. **JORC Compliant** Polarity: positive Story-specific tag Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Competent Persons Statement explicitly mentions compliance with the JORC Code. Evidence · text > Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: Several sub-intervals are reported with length and grade but without explicit from and to depths, indicating they are downhole widths without specified true width or orientation. Evidence · text > including 7.62 m @ 11.38% Cu, 3.05 m @ 17.68% Cu and 1.52 m @ 21.1% Cu **Historical Estimate Only** Polarity: negative Story-specific tag Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: Several drill results from 2025 are reported with explicit references to prior ASX announcements, indicating they are historical results being restated in this annual report. Evidence · text > DAN25012: 87 m @ 2.4% Cu, including 23 m @ 5.2% Cu and 16.4 g/t Ag from 82 m \(refer to ASX announcement dated 9 October 2025\). **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: Copper recoveries peaking at 95.4% and silver recoveries up to 93.3% are at or above the exceptional band for conventional flotation. Evidence · text > Copper recoveries above 90% across composites, peaking at 95.4%. Silver recoveries of up to 93.3%. **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: The metallurgical testwork produced a clean concentrate through a conventional circuit with no deleterious elements identified, indicating simple processing. Evidence · text > Final concentrate grades of approximately 40% Cu and 150 g/t Ag. Saleable concentrate grades \(>28% Cu\) early in the cleaner circuit, with no regrind required and no deleterious elements identified. **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: The metallurgical testwork explicitly states that no deleterious elements were identified. Evidence · text > no deleterious elements identified **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) ## Extracted facts Stored fact records: 39. Some facts used in scoring do not have a stored record. ## Drill Results (35) ### DAN25012 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-0) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25012 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 2.4 - Grade Unit: % - Intercept: 87 m - From: 82 m - To: 169 m - Intercept Depth: 82 m #### Classification - Sample Type: drill - Group ID: DAN25012:82-169 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-09T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept shows a strong copper grade over a substantial width, contributing to the understanding of the Danvers system. - Positive factor: High copper grade \(2.4%\) over a significant intercept length \(87m\) for a porphyry deposit. - Positive factor: Confirms continuity of mineralization at Danvers. Evidence · text > DAN25012: 87 m @ 2.4% Cu, including 23 m @ 5.2% Cu and 16.4 g/t Ag from 82 m \(refer to ASX announcement dated 9 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25012 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-1) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25012 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 5.2 - Grade Unit: % - Intercept: 23 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-09T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical sub-interval represents a bonanza-grade copper zone, highlighting the high-grade potential of the Danvers project. - Positive factor: Very high copper grade \(5.2%\) over a good intercept length \(23m\), indicating a bonanza zone within the broader mineralization. - Positive factor: Significantly above the project average grade for copper. Evidence · text > DAN25012: 87 m @ 2.4% Cu, including 23 m @ 5.2% Cu and 16.4 g/t Ag from 82 m \(refer to ASX announcement dated 9 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25012 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-2) Rae · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25012 - Project: Rae - Commodity: silver - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 16.4 - Grade Unit: g/t - Intercept: 23 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-09T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical silver intercept provides positive byproduct potential alongside the high-grade copper. - Positive factor: Good silver grade \(16.4 g/t\) over a significant intercept length \(23m\), indicating potential byproduct credits. Evidence · text > DAN25012: 87 m @ 2.4% Cu, including 23 m @ 5.2% Cu and 16.4 g/t Ag from 82 m \(refer to ASX announcement dated 9 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25013 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-3) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25013 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 1.33 - Grade Unit: % - Intercept: 49 m - From: 74.68 m - To: 123.68 m - Intercept Depth: 74.68 m #### Classification - Sample Type: drill - Group ID: DAN25013:74.68-123.68 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-01T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept confirms copper mineralization at Danvers, contributing to the overall understanding of the deposit. - Positive factor: Solid copper grade \(1.33%\) over a good intercept length \(49m\) for a porphyry deposit. Evidence · text > DAN25013, about 200 m southwest of DAN25007: 49 m @ 1.33% Cu from 74.68 m, including 3 m @ 6.6% Cu and 23.95 g/t Ag from 88.39 m \(refer to ASX announcement dated 1 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25013 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-4) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25013 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 6.6 - Grade Unit: % - Intercept: 3 m - From: 88.39 m - To: 91.39 m - Intercept Depth: 88.39 m #### Classification - Sample Type: drill - Group ID: DAN25013:88.39-91.39 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-01T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical sub-interval shows a high-grade copper zone, adding to the prospectivity of the Danvers project. - Positive factor: High copper grade \(6.6%\) over a narrow but significant intercept length \(3m\), indicating a high-grade zone. Evidence · text > DAN25013, about 200 m southwest of DAN25007: 49 m @ 1.33% Cu from 74.68 m, including 3 m @ 6.6% Cu and 23.95 g/t Ag from 88.39 m \(refer to ASX announcement dated 1 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25013 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-5) Rae · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25013 - Project: Rae - Commodity: silver - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 23.95 - Grade Unit: g/t - Intercept: 3 m - From: 88.39 m - To: 91.39 m - Intercept Depth: 88.39 m #### Classification - Sample Type: drill - Group ID: DAN25013:88.39-91.39 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-01T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical silver intercept indicates byproduct potential within the high-grade copper zone. - Positive factor: Good silver grade \(23.95 g/t\) over a narrow intercept length \(3m\), providing byproduct potential. Evidence · text > DAN25013, about 200 m southwest of DAN25007: 49 m @ 1.33% Cu from 74.68 m, including 3 m @ 6.6% Cu and 23.95 g/t Ag from 88.39 m \(refer to ASX announcement dated 1 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25019 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-6) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25019 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 2.5 - Grade Unit: % - Intercept: 30.5 m - From: 12 m - To: 42.5 m - Intercept Depth: 12 m #### Classification - Sample Type: drill - Group ID: DAN25019:12-42.5 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-23T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept from Danvers 2 discovery shows good copper grades over a substantial width, supporting the expansion of mineralization. - Positive factor: Strong copper grade \(2.5%\) over a significant intercept length \(30.5m\) at shallow depth, indicating potential for open-pit mining. Evidence · text > DAN25019: 15 m @ 4.8% Cu and 20 g/t Ag from 12 m, within a broader 30.5 m @ 2.5% Cu, plus further intervals of 17 m @ 0.15% Cu from 55 m and 27.5 m @ 0.40% Cu from 123.5 m including 3 m @ 1.7% Cu \(refer to ASX announcement dated 23 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25019 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-7) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25019 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 4.8 - Grade Unit: % - Intercept: 15 m - From: 12 m - To: 27 m - Intercept Depth: 12 m #### Classification - Sample Type: drill - Group ID: DAN25019:12-27 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-23T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical sub-interval from Danvers 2 shows bonanza-grade copper, enhancing the prospectivity of the shallow mineralization. - Positive factor: Very high copper grade \(4.8%\) over a good intercept length \(15m\) at shallow depth, indicating a bonanza zone within the broader mineralization. Evidence · text > DAN25019: 15 m @ 4.8% Cu and 20 g/t Ag from 12 m, within a broader 30.5 m @ 2.5% Cu, plus further intervals of 17 m @ 0.15% Cu from 55 m and 27.5 m @ 0.40% Cu from 123.5 m including 3 m @ 1.7% Cu \(refer to ASX announcement dated 23 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25019 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-8) Rae · silver Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25019 - Project: Rae - Commodity: silver - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 20 - Grade Unit: g/t - Intercept: 15 m - From: 12 m - To: 27 m - Intercept Depth: 12 m #### Classification - Sample Type: drill - Group ID: DAN25019:12-27 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-23T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical silver intercept indicates positive byproduct potential alongside the high-grade copper at Danvers 2. - Positive factor: Good silver grade \(20 g/t\) over a significant intercept length \(15m\), providing byproduct potential. Evidence · text > DAN25019: 15 m @ 4.8% Cu and 20 g/t Ag from 12 m, within a broader 30.5 m @ 2.5% Cu, plus further intervals of 17 m @ 0.15% Cu from 55 m and 27.5 m @ 0.40% Cu from 123.5 m including 3 m @ 1.7% Cu \(refer to ASX announcement dated 23 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25019 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-9) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25019 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 0.15 - Grade Unit: % - Intercept: 17 m - From: 55 m - To: 72 m - Intercept Depth: 55 m #### Classification - Sample Type: drill - Group ID: DAN25019:55-72 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-23T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept shows low-grade copper mineralization, indicating broader alteration but not economic grades. - Positive factor: Confirms copper mineralization over a reasonable width \(17m\). - Negative factor: Low copper grade \(0.15%\) for a porphyry deposit. Evidence · text > DAN25019: 15 m @ 4.8% Cu and 20 g/t Ag from 12 m, within a broader 30.5 m @ 2.5% Cu, plus further intervals of 17 m @ 0.15% Cu from 55 m and 27.5 m @ 0.40% Cu from 123.5 m including 3 m @ 1.7% Cu \(refer to ASX announcement dated 23 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25019 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-10) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25019 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 0.4 - Grade Unit: % - Intercept: 27.5 m - From: 123.5 m - To: 151 m - Intercept Depth: 123.5 m #### Classification - Sample Type: drill - Group ID: DAN25019:123.5-151 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-23T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept shows moderate copper grades over a good width, contributing to the overall resource potential. - Positive factor: Moderate copper grade \(0.4%\) over a significant intercept length \(27.5m\). Evidence · text > DAN25019: 15 m @ 4.8% Cu and 20 g/t Ag from 12 m, within a broader 30.5 m @ 2.5% Cu, plus further intervals of 17 m @ 0.15% Cu from 55 m and 27.5 m @ 0.40% Cu from 123.5 m including 3 m @ 1.7% Cu \(refer to ASX announcement dated 23 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN25019 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-11) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: DAN25019 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 1.7 - Grade Unit: % - Intercept: 3 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-23T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical sub-interval shows a good copper grade, enhancing the prospectivity of the deeper mineralization. - Positive factor: Good copper grade \(1.7%\) over a narrow intercept length \(3m\), indicating a higher-grade zone within the broader mineralization. Evidence · text > DAN25019: 15 m @ 4.8% Cu and 20 g/t Ag from 12 m, within a broader 30.5 m @ 2.5% Cu, plus further intervals of 17 m @ 0.15% Cu from 55 m and 27.5 m @ 0.40% Cu from 123.5 m including 3 m @ 1.7% Cu \(refer to ASX announcement dated 23 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### STK25001 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-12) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: STK25001 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 0.41 - Grade Unit: % - Intercept: 7 m - From: 177 m - To: 184 m - Intercept Depth: 177 m #### Classification - Sample Type: drill - Group ID: STK25001:177-184 #### Location - Location: Stark / Hulk - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-28T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept is significant for validating the sediment-hosted copper model at Stark/Hulk, despite the low grade. - Positive factor: Confirms copper mineralization in the Rae Group sediments, validating a new exploration model. - Negative factor: Low copper grade \(0.41%\) over a narrow width \(7m\). Evidence · text > STK25001: 7 m @ 0.41% Cu from 177 m and 3.5 m @ 7.2% Cu within a broader 12 m @ 2.45% Cu from 287 m \(refer to ASX announcement dated 28 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### STK25001 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-13) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: STK25001 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 2.45 - Grade Unit: % - Intercept: 12 m - From: 287 m - To: 299 m - Intercept Depth: 287 m #### Classification - Sample Type: drill - Group ID: STK25001:287-299 #### Location - Location: Stark / Hulk - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-28T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept shows good copper grades at depth, supporting the potential of the sediment-hosted mineralization at Stark/Hulk. - Positive factor: Strong copper grade \(2.45%\) over a good intercept length \(12m\) at depth, further validating the sediment-hosted copper model. Evidence · text > STK25001: 7 m @ 0.41% Cu from 177 m and 3.5 m @ 7.2% Cu within a broader 12 m @ 2.45% Cu from 287 m \(refer to ASX announcement dated 28 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### STK25001 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-14) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: STK25001 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 7.2 - Grade Unit: % - Intercept: 3.5 m #### Classification - Sample Type: drill #### Location - Location: Stark / Hulk - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-10-28T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical sub-interval reveals bonanza-grade copper, significantly enhancing the prospectivity of the sediment-hosted target at Stark/Hulk. - Positive factor: Very high copper grade \(7.2%\) over a narrow but significant intercept length \(3.5m\), indicating a bonanza zone within the sediment-hosted mineralization. Evidence · text > STK25001: 7 m @ 0.41% Cu from 177 m and 3.5 m @ 7.2% Cu within a broader 12 m @ 2.45% Cu from 287 m \(refer to ASX announcement dated 28 October 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### STK25003 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-15) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: STK25003 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 0.6 - Grade Unit: % - Intercept: 25 m - From: 240 m - To: 265 m - Intercept Depth: 240 m #### Classification - Sample Type: drill - Group ID: STK25003:240-265 #### Location - Location: Stark / Hulk - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-26T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept further confirms the presence of sediment-hosted copper mineralization at Stark/Hulk with moderate grades over a good width. - Positive factor: Moderate copper grade \(0.6%\) over a significant intercept length \(25m\) at depth, confirming sediment-hosted mineralization. Evidence · text > STK25003: 25 m @ 0.6% Cu from 240 m, including 1 m @ 5.7% Cu \(refer to ASX announcement dated 26 November 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### STK25003 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-16) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: STK25003 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 5.7 - Grade Unit: % - Intercept: 1 m #### Classification - Sample Type: drill #### Location - Location: Stark / Hulk - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-11-26T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical sub-interval shows a high-grade copper zone, enhancing the prospectivity of the sediment-hosted target at Stark/Hulk. - Positive factor: High copper grade \(5.7%\) over a narrow intercept length \(1m\), indicating a high-grade zone within the sediment-hosted mineralization. Evidence · text > STK25003: 25 m @ 0.6% Cu from 240 m, including 1 m @ 5.7% Cu \(refer to ASX announcement dated 26 November 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### STK25004 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-17) Rae · copper Historical result Needs review: historical\_restatement #### Identity - Hole ID: STK25004 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 0.2 - Grade Unit: % - Intercept: 16 m - From: 300 m - To: 316 m - Intercept Depth: 300 m #### Classification - Sample Type: drill - Group ID: STK25004:300-316 #### Location - Location: Stark / Hulk - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2025-12-17T00:00:00.000Z #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This historical intercept, despite low grades, is important for demonstrating the strike extent of the sediment-hosted copper mineralization at Stark/Hulk. - Positive factor: Extends mineralization over approximately 1.75 km of strike, indicating significant scale for the sediment-hosted target. - Negative factor: Low copper grade \(0.2%\) over a moderate width \(16m\). Evidence · text > STK25004: 16 m @ 0.2% Cu from 300 m, extending mineralisation over approximately 1.75 km of strike \(refer to ASX announcement dated 17 December 2025\). #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 ### DAN26012 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-18) Rae · copper #### Identity - Hole ID: DAN26012 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 6.64 - Grade Unit: % - Intercept: 19.81 m - From: 152.4 m - To: 172.21 m - Intercept Depth: 152.4 m #### Classification - Sample Type: drill - Group ID: DAN26012:152.4-172.21 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new intercept from DAN26012 shows exceptional copper grades over a substantial width, significantly enhancing the project's value and exceeding prior results. - Positive factor: Very high copper grade \(6.64%\) over a significant intercept length \(19.81m\), well above the project average. - Positive factor: This is a new result from the current field season, demonstrating strong mineralization. Evidence · text > DAN26012 \(10 June 2026\): 19.81 m @ 6.64% Cu from 152.4 m, including 7.62 m @ 11.38% Cu, 3.05 m @ 17.68% Cu and 1.52 m @ 21.1% Cu — the highest-grade interval reported from the project to that date \(refer to ASX announcement dated 10 June 2026\). #### 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 ### DAN26012 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-19) Rae · copper #### Identity - Hole ID: DAN26012 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 11.38 - Grade Unit: % - Intercept: 7.62 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26012 represents an exceptionally high-grade copper zone, significantly boosting the project's overall grade profile. - Positive factor: Exceptional copper grade \(11.38%\) over a good intercept length \(7.62m\), indicating a bonanza zone. - Positive factor: Significantly above the project average and prior best grades. Evidence · text > DAN26012 \(10 June 2026\): 19.81 m @ 6.64% Cu from 152.4 m, including 7.62 m @ 11.38% Cu, 3.05 m @ 17.68% Cu and 1.52 m @ 21.1% Cu — the highest-grade interval reported from the project to that date \(refer to ASX announcement dated 10 June 2026\). #### 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 ### DAN26012 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-20) Rae · copper #### Identity - Hole ID: DAN26012 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 17.68 - Grade Unit: % - Intercept: 3.05 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26012 shows an exceptionally high-grade copper zone, further enhancing the project's bonanza potential. - Positive factor: Exceptional copper grade \(17.68%\) over a narrow but very high-grade intercept length \(3.05m\), indicating a bonanza zone. - Positive factor: Significantly above the project average and prior best grades. Evidence · text > DAN26012 \(10 June 2026\): 19.81 m @ 6.64% Cu from 152.4 m, including 7.62 m @ 11.38% Cu, 3.05 m @ 17.68% Cu and 1.52 m @ 21.1% Cu — the highest-grade interval reported from the project to that date \(refer to ASX announcement dated 10 June 2026\). #### 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 ### DAN26012 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-21) Rae · copper #### Identity - Hole ID: DAN26012 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 21.1 - Grade Unit: % - Intercept: 1.52 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26012 is an exceptional bonanza-grade copper intercept, marking the highest grade reported from the project and significantly increasing its prospectivity. - Positive factor: Exceptional copper grade \(21.1%\) over a narrow but extremely high-grade intercept length \(1.52m\), representing the highest-grade interval reported to date. - Positive factor: Significantly above the project average and prior best grades, indicating bonanza-grade mineralization. Evidence · text > DAN26012 \(10 June 2026\): 19.81 m @ 6.64% Cu from 152.4 m, including 7.62 m @ 11.38% Cu, 3.05 m @ 17.68% Cu and 1.52 m @ 21.1% Cu — the highest-grade interval reported from the project to that date \(refer to ASX announcement dated 10 June 2026\). #### 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 ### DAN26015 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-22) Rae · copper #### Identity - Hole ID: DAN26015 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 1.59 - Grade Unit: % - Intercept: 79.24 m - From: 67.06 m - To: 146.3 m - Intercept Depth: 67.06 m #### Classification - Sample Type: drill - Group ID: DAN26015:67.06-146.3 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new intercept from DAN26015 shows a strong copper grade over a very wide interval, confirming a new high-grade zone and adding significant bulk tonnage potential to the project. - Positive factor: Strong copper grade \(1.59%\) over an exceptionally long intercept length \(79.24m\), indicating significant bulk tonnage potential. - Positive factor: Confirms a new high-grade zone, expanding the known mineralization footprint. Evidence · text > DAN26015 \(17 June 2026\): 79.24 m @ 1.59% Cu from 67.06 m, including 24.38 m @ 3.05% Cu from 120.4 m, confirming a new high-grade zone adjacent to, and not confined within, the main Teshierpi Fault \(refer to ASX announcement dated 17 June 2026\). #### 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 ### DAN26015 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-23) Rae · copper #### Identity - Hole ID: DAN26015 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 3.05 - Grade Unit: % - Intercept: 24.38 m - From: 120.4 m - To: 144.78 m - Intercept Depth: 120.4 m #### Classification - Sample Type: drill - Group ID: DAN26015:120.4-144.78 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26015 shows a high-grade copper zone, further enhancing the project's bonanza potential within the newly confirmed zone. - Positive factor: High copper grade \(3.05%\) over a significant intercept length \(24.38m\), indicating a bonanza zone within the broader mineralization. - Positive factor: Significantly above the project average grade for copper. Evidence · text > DAN26015 \(17 June 2026\): 79.24 m @ 1.59% Cu from 67.06 m, including 24.38 m @ 3.05% Cu from 120.4 m, confirming a new high-grade zone adjacent to, and not confined within, the main Teshierpi Fault \(refer to ASX announcement dated 17 June 2026\). #### 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 ### DAN26008 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-24) Rae · copper #### Identity - Hole ID: DAN26008 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 1 - Grade Unit: % - Intercept: 33.53 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new intercept from DAN26008 confirms significant strike extension with moderate copper grades, indicating the growing scale of the Danvers system. - Positive factor: Moderate copper grade \(1.0%\) over a significant intercept length \(33.53m\). - Positive factor: Represents a furthest north-east step-out, demonstrating strike extension and strengthening grades. - Negative factor: No explicit from/to depths provided for this interval. Evidence · text > DAN26008: 33.53 m @ 1.0% Cu and 27.43 m @ 1.2% Cu, including 7.62 m @ 2.71% Cu and 9.15 m @ 2.96% Cu. The furthest north-east step-out with assays returned at the time, and the strongest assay results of the 2026 programme to that point, demonstrating that grades strengthen rather than dilute along strike. #### 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 ### DAN26008 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-25) Rae · copper #### Identity - Hole ID: DAN26008 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 1.2 - Grade Unit: % - Intercept: 27.43 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new intercept from DAN26008 further supports the strike extension of copper mineralization with moderate grades. - Positive factor: Moderate copper grade \(1.2%\) over a significant intercept length \(27.43m\). - Positive factor: Contributes to the understanding of strike extension and grade continuity. - Negative factor: No explicit from/to depths provided for this interval. Evidence · text > DAN26008: 33.53 m @ 1.0% Cu and 27.43 m @ 1.2% Cu, including 7.62 m @ 2.71% Cu and 9.15 m @ 2.96% Cu. The furthest north-east step-out with assays returned at the time, and the strongest assay results of the 2026 programme to that point, demonstrating that grades strengthen rather than dilute along strike. #### 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 ### DAN26008 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-26) Rae · copper #### Identity - Hole ID: DAN26008 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 2.71 - Grade Unit: % - Intercept: 7.62 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26008 shows a high-grade copper zone, enhancing the overall prospectivity of the extended mineralization. - Positive factor: High copper grade \(2.71%\) over a good intercept length \(7.62m\), indicating a high-grade zone within the broader mineralization. - Negative factor: No explicit from/to depths provided for this interval. Evidence · text > DAN26008: 33.53 m @ 1.0% Cu and 27.43 m @ 1.2% Cu, including 7.62 m @ 2.71% Cu and 9.15 m @ 2.96% Cu. The furthest north-east step-out with assays returned at the time, and the strongest assay results of the 2026 programme to that point, demonstrating that grades strengthen rather than dilute along strike. #### 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 ### DAN26008 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-27) Rae · copper #### Identity - Hole ID: DAN26008 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 2.96 - Grade Unit: % - Intercept: 9.15 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26008 further highlights high-grade copper zones within the extended mineralization. - Positive factor: High copper grade \(2.96%\) over a good intercept length \(9.15m\), indicating a high-grade zone within the broader mineralization. - Negative factor: No explicit from/to depths provided for this interval. Evidence · text > DAN26008: 33.53 m @ 1.0% Cu and 27.43 m @ 1.2% Cu, including 7.62 m @ 2.71% Cu and 9.15 m @ 2.96% Cu. The furthest north-east step-out with assays returned at the time, and the strongest assay results of the 2026 programme to that point, demonstrating that grades strengthen rather than dilute along strike. #### 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 ### DAN26004 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-28) Rae · copper #### Identity - Hole ID: DAN26004 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 1.02 - Grade Unit: % - Intercept: 9.14 m - From: 36.58 m - To: 45.72 m - Intercept Depth: 36.58 m #### Classification - Sample Type: drill - Group ID: DAN26004:36.58-45.72 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new shallow intercept from DAN26004 contributes to establishing a 1.5 km mineralized footprint at Danvers 2. - Positive factor: Moderate copper grade \(1.02%\) over a good intercept length \(9.14m\) at shallow depth, contributing to the mineralized footprint. Evidence · text > DAN26004: 15.24 m @ 1.51% Cu from 225.55 m, including 1.52 m @ 5.18% Cu and 41.8 g/t Ag, with a shallower 9.14 m @ 1.02% Cu from 36.58 m, establishing a 1.5 km mineralised footprint at Danvers 2 \(refer to ASX announcement dated 25 May 2026\). #### 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 ### DAN26004 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-29) Rae · copper #### Identity - Hole ID: DAN26004 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 1.51 - Grade Unit: % - Intercept: 15.24 m - From: 225.55 m - To: 240.79 m - Intercept Depth: 225.55 m #### Classification - Sample Type: drill - Group ID: DAN26004:225.55-240.79 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new intercept from DAN26004 shows good copper grades over a significant width, further establishing the mineralized footprint at Danvers 2. - Positive factor: Strong copper grade \(1.51%\) over a good intercept length \(15.24m\), contributing to the mineralized footprint at Danvers 2. Evidence · text > DAN26004: 15.24 m @ 1.51% Cu from 225.55 m, including 1.52 m @ 5.18% Cu and 41.8 g/t Ag, with a shallower 9.14 m @ 1.02% Cu from 36.58 m, establishing a 1.5 km mineralised footprint at Danvers 2 \(refer to ASX announcement dated 25 May 2026\). #### 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 ### DAN26004 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-30) Rae · copper #### Identity - Hole ID: DAN26004 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 5.18 - Grade Unit: % - Intercept: 1.52 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26004 reveals a bonanza-grade copper zone, enhancing the prospectivity of Danvers 2. - Positive factor: Very high copper grade \(5.18%\) over a narrow but significant intercept length \(1.52m\), indicating a bonanza zone. Evidence · text > DAN26004: 15.24 m @ 1.51% Cu from 225.55 m, including 1.52 m @ 5.18% Cu and 41.8 g/t Ag, with a shallower 9.14 m @ 1.02% Cu from 36.58 m, establishing a 1.5 km mineralised footprint at Danvers 2 \(refer to ASX announcement dated 25 May 2026\). #### 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 ### DAN26004 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-31) Rae · silver #### Identity - Hole ID: DAN26004 - Project: Rae - Commodity: silver - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 41.8 - Grade Unit: g/t - Intercept: 1.52 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new silver intercept indicates positive byproduct potential alongside the high-grade copper at Danvers 2. - Positive factor: Good silver grade \(41.8 g/t\) over a narrow intercept length \(1.52m\), providing byproduct potential. Evidence · text > DAN26004: 15.24 m @ 1.51% Cu from 225.55 m, including 1.52 m @ 5.18% Cu and 41.8 g/t Ag, with a shallower 9.14 m @ 1.02% Cu from 36.58 m, establishing a 1.5 km mineralised footprint at Danvers 2 \(refer to ASX announcement dated 25 May 2026\). #### 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 ### DAN26020 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-32) Rae · copper #### Identity - Hole ID: DAN26020 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 0.72 - Grade Unit: % - Intercept: 19.81 m - From: 111.25 m - To: 131.06 m - Intercept Depth: 111.25 m #### Classification - Sample Type: drill - Group ID: DAN26020:111.25-131.06 #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new intercept from DAN26020 extends copper mineralization to the south-west, demonstrating the growing scale of the Danvers system. - Positive factor: Moderate copper grade \(0.72%\) over a significant intercept length \(19.81m\). - Positive factor: Extends mineralization south-west, contributing to the growing mineralized footprint. Evidence · text > DAN26020: 19.81 m @ 0.72% Cu from 111.25 m, including 1.53 m @ 2.39% Cu and 3.05 m @ 1.11% Cu. Collared 550 m from the main Danvers 1 zone, the hole extended mineralisation south-west toward the 2026 Teshierpi Fault Zone discoveries. The Danvers 1 mineralised footprint stood at 1,037 m of strike at 30 June 2026 \(refer to ASX announcement dated 30 June 2026\). #### 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 ### DAN26020 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-33) Rae · copper #### Identity - Hole ID: DAN26020 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 2.39 - Grade Unit: % - Intercept: 1.53 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26020 shows a strong copper grade, enhancing the prospectivity of the extended mineralization. - Positive factor: Strong copper grade \(2.39%\) over a narrow intercept length \(1.53m\), indicating a higher-grade zone. Evidence · text > DAN26020: 19.81 m @ 0.72% Cu from 111.25 m, including 1.53 m @ 2.39% Cu and 3.05 m @ 1.11% Cu. Collared 550 m from the main Danvers 1 zone, the hole extended mineralisation south-west toward the 2026 Teshierpi Fault Zone discoveries. The Danvers 1 mineralised footprint stood at 1,037 m of strike at 30 June 2026 \(refer to ASX announcement dated 30 June 2026\). #### 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 ### DAN26020 [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-drill-facts-34) Rae · copper #### Identity - Hole ID: DAN26020 - Project: Rae - Commodity: copper - Region: canada\_nu - Reported Region: canada\_nu - Ticker: WCN #### Geometry - Grade: 1.11 - Grade Unit: % - Intercept: 3.05 m #### Classification - Sample Type: drill #### Location - Location: Danvers - Loc. Source: document #### QA/QC - QP Signed: Yes #### Deleterious - Deleterious Flag: No #### Compositing - Dilution Disclosed: Yes #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: This new sub-interval from DAN26020 shows a moderate copper grade, contributing to the overall prospectivity of the extended mineralization. - Positive factor: Moderate copper grade \(1.11%\) over a narrow intercept length \(3.05m\), indicating a higher-grade zone. Evidence · text > DAN26020: 19.81 m @ 0.72% Cu from 111.25 m, including 1.53 m @ 2.39% Cu and 3.05 m @ 1.11% Cu. Collared 550 m from the main Danvers 1 zone, the hole extended mineralisation south-west toward the 2026 Teshierpi Fault Zone discoveries. The Danvers 1 mineralised footprint stood at 1,037 m of strike at 30 June 2026 \(refer to ASX announcement dated 30 June 2026\). #### 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 ## Metallurgical Results (4) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-metallurgical-facts-35) Rae Copper Project · copper #### Identity - Project: Rae Copper Project - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: WCN #### Test Work - Test Type: flotation - Processing Route: conventional flotation #### Recovery - Recovery: 95.4 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The peak copper recovery of 95.4% is exceptional for conventional flotation, demonstrating highly favorable metallurgical characteristics for the Rae Copper Project. - Positive factor: Exceptional copper recovery \(95.4%\) for conventional flotation, indicating excellent metallurgical characteristics. - Positive factor: Recovery is well above the strong band for flotation, de-risking future development. Evidence · text > Copper recoveries above 90% across composites, peaking at 95.4%. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 95.4% is at or above the exceptional band \(92%\) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-metallurgical-facts-36) Rae Copper Project · silver #### Identity - Project: Rae Copper Project - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: WCN #### Test Work - Test Type: flotation - Processing Route: conventional flotation #### Recovery - Recovery: 93.3 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The high silver recovery of 93.3% is exceptional for conventional flotation, indicating strong byproduct potential for the Rae Copper Project. - Positive factor: Exceptional silver recovery \(93.3%\) for conventional flotation, indicating excellent byproduct potential. - Positive factor: Recovery is well above the strong band for flotation. Evidence · text > Silver recoveries of up to 93.3%. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 93.3% is at or above the exceptional band \(90%\) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-metallurgical-facts-37) Rae Copper Project · copper #### Identity - Project: Rae Copper Project - Commodity: copper - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: WCN #### Test Work - Test Type: flotation - Processing Route: conventional flotation #### Recovery - Conc. Grade: 40 - Conc. Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The high copper concentrate grade of 40% indicates a premium, saleable product, further enhancing the project's economic viability. - Positive factor: Very high copper concentrate grade \(40%\), well above typical saleable thresholds \(>28% Cu\), indicating a high-quality product. - Positive factor: No deleterious elements identified, suggesting a clean concentrate. Evidence · text > Final concentrate grades of approximately 40% Cu and 150 g/t Ag. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/wcn-annual-report-to-shareholders--b5acea96-f3b3-4238-901c-bb3efd8bcc1a#fact-metallurgical-facts-38) Rae Copper Project · silver #### Identity - Project: Rae Copper Project - Commodity: silver - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: WCN #### Test Work - Test Type: flotation - Processing Route: conventional flotation #### Recovery - Conc. Grade: 150 - Conc. Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: The high silver concentrate grade of 150 g/t confirms significant byproduct value, contributing positively to project economics. - Positive factor: High silver concentrate grade \(150 g/t\), indicating significant byproduct value. Evidence · text > Final concentrate grades of approximately 40% Cu and 150 g/t Ag. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ## 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.