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Resource Overview

(Addison, November 2022)

Economics

$156m NPV
31.3% IRR
$79m Capex to production
Payback Year 4
700kt/a- 12LOM
49 Op Margin ($63.56/6)'

Resource (JORC 2012)

17 Mt @ 6.9% Zn Eq (inc. Pb credits), 4.1% Zn, 2.9% Pb & 24 g/t Ag (inf/ind: 720,000 Zn, 510,000t of Pb and 14Moz of Ag (Approx.)
3.8 Mt @ 8.3% Zn Eq (inc. Pb credits) and 30 g/t Ag indicated:180,000t Zn,150,000t Pb & 3.7 Moz Ag (Approx.)

Technical

'SLOS with ramp/raise-bore shaft access - 10% dilution;
3.5m average mined mineralised widths'
Environmental Baseline studies underway
Initial hydrogeological report successful
Advancing geotechnical approach

Metallurgy/ Economic recovery

Significant Indicated and Inferred JORC (2012) resource, Spain
Metallurgy and XRT ore sorting proving up high grade concentrates
'Grade/recovery 3.3% Pb/87%; 4.2% Zn/86%; 26.7g/t Ag/85%'
Scoping Study and PEA complete - PFS underway