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*Technical information relating to the Tonopah West Project is based on and derived from the NI 43-101 report prepared for Blackrock entitled “Preliminary Economic Assessment of Mineral Resources, Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA effective September 4, 2024 and dated April 25, 2025. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative, geologically, to have the economic considerations applied to them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. (1) Silver equivalent (“AgEq”) is based on grades of 237.8 g/t silver (Ag) and 2.82 gold (Au), a grade ratio of 90:1 and silver and gold prices of $23/ounce silver and $1,900/ounce gold, and recoveries for silver and gold of 87% and 95%, respectively. AgEq Factor= (Ag Price / Au Price) x (Ag Rec / Au Rec); g AgEq/t = g Ag/t + (g Au/t / AgEq Factor).
*Technical information relating to the Tonopah West Project is based on and derived from the NI 43-101 report prepared for Blackrock entitled “Preliminary Economic Assessment of Mineral Resources, Tonopah West Silver-Gold Project, Nye and Esmeralda Counties, Nevada, USA effective September 4, 2024 and dated April 25, 2025. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative, geologically, to have the economic considerations applied to them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. (1) Silver equivalent (“AgEq”) is based on grades of 237.8 g/t silver (Ag) and 2.82 gold (Au), a grade ratio of 90:1 and silver and gold prices of $23/ounce silver and $1,900/ounce gold, and recoveries for silver and gold of 87% and 95%, respectively. AgEq Factor= (Ag Price / Au Price) x (Ag Rec / Au Rec); g AgEq/t = g Ag/t + (g Au/t / AgEq Factor).