Resource Area Indicated Inferred
Tonnes Au (g/t) Au (ozs) Ag (g/t) Ag (ozs) AuEq (g/t) AuEq (ozs) Tonnes Au (g/t) Au (ozs) Ag (g/t) Ag (ozs) AuEq (g/t) AuEq (ozs)
Doby George8 13,662,000 0.90 394,000 0.90 394,000 3,270,000 0.68 71,000 0.68 71,000
Wood Gulch5 2,741,000 0.75 66,000 6.2 545,000 0.82 73,000
Gravel Creek4 1,331,000 5.04 216,000 78.7 3,367,000 5.95 254,000 3,933,000 4.52 571,000 76.9 9,726,000 5.39 683,000
TOTAL 14,993,000 1.27 610,000 7.0 3,367,000 1.35 648,000 9,944,000 2.22 708,000 32.1 10,271,000 2.58 827,000

Notes:

  1. The effective date of the Wood Gulch-Gravel Creek mineral resource estimate is May 27, 2025.
  2. In-situ mineral resources are classified in accordance with CIM Definition Standards for Mineral Resources & Mineral Reserves prepared by the CIM Standing Committee on Reserve Definitions.
  3. The average grades of the tabulations are comprised of the weighted average of block-diluted grades within the underground shells and optimized pits.
  4. The Gravel Creek MRE is reported using a cut-off grade of 3.0g AuEq/t. Gold equivalent values were calculated using metal prices of US$2,025 per oz for gold and US$24 per oz for silver, and metallurgical recoveries of 95% for gold and 92% for silver. The AuEq calculation accounts for metal prices and recoveries only. The 3.0g AuEq/t cut-off grade was applied to constrain the reported mineral resource estimates to material with reasonable prospects for economic extraction.
  5. The Au cut-off grade for Wood Gulch Mineral Resources is based on an Au price of US$2,150/oz, an average recovery of 66% Au, a processing rate of 7,500 tonnes per day and cost assumptions including: US$3.02/t mining cost for open-pit mining; US$6.52/t processing cost; US$1.89/t processed G&A cost; and US$5.00/oz Au refining cost.
  6. The effective date of the Doby George mineral resource estimate is January 27, 2025.
  7. The project mineral resources are comprised of all model blocks at a cutoff grade of 0.17 g Au/t for all material within optimized pits.
  8. The gold cutoff grade for Doby George mineral resource estimate is based on an gold price of US$2,150/oz, an average recovery of 66% Au, a processing rate of 7,500 tonnes per day, and cost assumptions including: US$3.02/t mining cost for open-pit mining; US$6.52/t processing cost; US$1.89/t processed G&A cost, and US$5.00/oz Au refining cost. An average royalty of 3% has also been applied to cutoff grade determination.
  9. The mineral resource estimates described herein may be materially affected by geology, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
  10. There are no known factors related to metallurgical, environmental, permitting, legal, title, taxation, socio-economic, marketing or political issues which could materially affect the mineral resource estimate described in this news release.
  11. Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grade, and contained metal content.
  12. Mineral resources are not mineral reserves and do not have demonstrated economic viability. An inferred mineral resource estimate has a lower level of confidence than an indicated mineral resource estimate, and has not been converted into a mineral reserve. It is reasonably expected that a majority of the inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.

 

Gravel Creek Sensitivity Table with Varying Grade Cut-offs
Indicated Inferred
Cutoff (Au g/t) Tonnes Au (g/t) Au (ozs) Ag (g/t) Ag (ozs) AuEq (g/t) AuEq (ozs) Tonnes Au (g/t) Au (ozs) Ag (g/t) Ag (ozs) AuEq (g/t) AuEq (ozs)
2.0 2,079,000 3.72 249,000 59.6 3,986,000 4.58 305,943 5,394,000 3.12 540,000 45.5 7,897,000 3.77 652,814
3.0 1,315,000 4.73 200,000 75.0 3,169,000 5.81 245,271 2,744,000 4.16 367,000 60.20 5,307,000 5.02 442,814

All resources were independently estimated by Mine Development Associates of Reno, Nevada and documented.

"2021 Updated Resource Estimates And Technical Report For The Aura Gold-Silver Project, Elko County, Nevada" Effective Date October 14, 2021

  • Gravel Creek resource is entirely sulfide material
  • Wood Gulch resource is oxide material
  • Doby George resource is 81% oxide, 17% mixed and 2% unoxidized in Indicated category and 56% oxide, 37% mixed and 7% unoxidized in Inferred category