San Miguel Drilling Highlights

• 370 g/t AgEq over 13.6 metres
• 236 g/t AgEq over 12.0 metres
• 803 g/t AgEq over 3.7 meters
• 548 g/t AgEq over 3.9 metres

San Juan Drilling Highlights

• 255 g/t AgEq over 6.8 metres

Silverco Mining Ltd. (TSXV: SICO,OTC:QTZCF) (‘Silverco’ or the ‘Company’) is pleased to report the final batch of assay results from its 15,000 metre 2025 diamond drill program at the Company’s 100%-owned Cusi Property (‘Cusi’), located approximately 90 kilometres northwest of First Majestic’s Los Gatos Mine in Chihuahua, Mexico.

The final results from the 2025 program have continued to demonstrate the excellent continuity and grade potential at San Miguel. Over the program, Silverco successfully defined the vein over a strike length of 750 metres. Drilling on the west of San Miguel returned 13.6 metres grading 370 g/t AgEq and 3.9 metres grading 548 g/t AgEq in hole CU-25-45. Hole CU-25-43, which was drilled approximately 50 metres below CU-25-45, returned 12.0 metres grading 236 g/t AgEq. These intercepts in combination with the results released on November 26, 2025, have outlined a zone of significant vein widths within the San Miguel system.

Drilling to the east at San Miguel, at the intersection of the Cusi Fault, returned 3.7 metres grading 803 g/t AgEq in CU-25-58. Additional results included 2.2 metres grading 321 g/t AgEq in CU-25-55 and 3.5 metres grading 185 g/t AgEq in hole CU-25-56. Drilling on the eastern extent has only been completed to a depth of approximately 200 metres, whereas the western portion has intercepted the vein at depths exceeding 350 metres from surface and remains open.

At San Juan, the Company drilled two test holes to follow up on a 2021 drillhole which intersected 4.3 metres grading 472 g/t AgEq to the east of the Cusi Fault. Hole CU-25-59 intersected 6.8 metres grading 255 g/t AgEq 80 metres away from the 2021 intercept. This hole reaffirms the continuation of the vein to the east of the Cusi fault and represents a 585-metre step out from the main mineral resource area of San Juan.

The Company also tested the western extension of the Eduwiges veins, hitting 1.1 metres of 937 g/t AgEq and 1.1 metres of 437 g/t AgEq in two separate veins in hole CU-25-50a. These intercepts are approximately 300 meters from the existing underground drifts at Eduwiges. The western extents of the Eduwiges, Promontorio, and San Juan vein systems have seen limited drilling. However, recently flown LiDAR combined with field mapping has outlined old historical workings continue to the west for upwards of 1,000 metres.

Mark Ayranto, CEO of Silverco, commented:

‘We are highly encouraged by the final results of our 2025 program, which continue to demonstrate the scale and quality of the Cusi property. San Miguel is already a cornerstone of our resource, and these results further expand its footprint. Having successfully drilled the vein over a 750-metre strike, within a mapped 1,400-metre system, we see clear potential for continued lateral and vertical growth in 2026.

‘Furthermore, drilling at San Juan continues to validate our geological model. Stepping out nearly 600 metres from the main resource and hitting 6.8 metres of 255 g/t AgEq confirms that the vein systems extend well east of the Cusi Fault. The impressive widths and grades suggest San Juan could evolve into a significant standalone mining zone.

‘Beyond our established targets, the western drill results at Eduwiges highlight the broader district-scale potential at Cusi. While previous exploration focused heavily around the Cusi Fault, historical workings indicate these vein systems extend significantly to the west. Leveraging our recently flown LiDAR, alongside detailed mapping and strategic drilling, will be a key focus for us in 2026 to unlock this upside.’

Details of the 2025 Drill Program

The 2025 program consisted of 15,000 metres of surface diamond drilling. The 2025 program was primarily focused on following up on the San Miguel results from 2024, with the aim of extending vein along strike and at depth. In addition, some minor exploratory and infill drilling of the other main veins was completed. Drilling was performed from surface by a local contractor, utilizing portable drill rigs. All core was HQ in size for holes up to 400 metres in depth. Any holes beyond this depth were switched to NQ upon reaching 400 metres.

Figure 1: 2025 Drill Program Collar Locations

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Figure 2: 2025 San Miguel Drill Program Collar Locations

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Figure 3: San Miguel Long Section +/- 50m, Looking WNW

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Figure 4: 2025 San Juan Drill Program Collar Locations

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Figure 5: San Juan Long Section +/- 50m, Looking NNW

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Figure 6: Eduwiges Drill Program Collar Locations

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Figure 7: Eduwiges Long Section +/- 75m, Looking NW

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Detailed drill results, along with notable assays results are provided in Tables 1 and 2.

Table 1: Significant Assay Results from the 2025 Drill Program

Notes

(1) AgEq = Ag g/t x Ag Recovery + [(Au g/t x Au Rec x Au price/gram)+(Pb% x Pb rec. X Pb price/t) + (Zn% x Zn rec. X Zn price/t)]/Ag price/gram. Metal price assumptions are: $30.00/oz silver, $2,400/oz gold, $1.00/lb lead, $1.35/lb zinc. Metallurgical recovery assumptions are 90% for silver, 50% for gold, 90% for lead, and 60% for zinc. Metallurgical recoveries used in this release are based on historical operational results on the Cusi project.
(2) Reported intervals are downhole core lengths. True widths are estimated at ~65-95% based on vein orientation observed in drill core; however, actual true widths may vary with additional drilling.

Table 2: Drill Collar Location

Notes

(1) Hole azimuths and dips are based on average of surveyed intervals

Quality Assurance/Quality Control and Sampling Procedures

All diamond drill core from the 2025 program at the Cusi Project was logged, photographed, and sawn in half using a diamond blade core saw. One half of the core was submitted for geochemical analysis, while the other half was retained in secure storage for reference. Sampling intervals were determined based on geological boundaries and typically ranged from 0.3- 1.5 metres. Control samples comprised approximately 18% of all samples submitted, including certified reference standards, analytical blanks, field duplicates, preparation duplicates and analytical duplicates. QA/QC results were reviewed in real time, and all data have been verified as meeting acceptable thresholds for accuracy, precision, and contamination before inclusion in this release.

Drill core and rock samples were sent to ALS Minerals for analysis with sample preparation in Chihuahua, Mexico and analysis in North Vancouver, British Columbia. Samples remained under Company custody until delivery to ALS; sealed bags were transported by Company personnel to ALS Chihuahua. The ALS Chihuahua and North Vancouver facilities are ISO/IEC 17025 certified. Samples are dried, weighed, and crushed to at least 70% passing 2mm, and a 250 g split is pulverized to at least 85% passing 75 μm (PREP-31). Silver and base metals are analyzed using a four-acid digestion and ICP-AES. Over-limit analyses for silver (>100 ppm), lead (>10,000 ppm), and zinc (>10,000 ppm) are re-assayed using an ore-grade four-acid digestion and ICP-AES (ME-OG62). Samples with over-limit silver assays > 1500 ppm are analyzed by 30-gram fire assay with a gravimetric finish (Ag-GRA21). Gold is assayed by 30-gram fire assay and AAS (Au-AA23)

Technical Disclosure

The scientific and technical information contained in this news release has been reviewed and approved by Nico Harvey, P.Eng., Vice President Project Development of Silverco, a Qualified Person as defined in National Instrument 43-101. Mr. Harvey is not independent of the Company. Mr. Harvey has reviewed the sampling, analytical and QA/QC data underlying the technical information disclosed herein.

No production decision has been made at Cusi. Any decision to restart operations will follow completion of the requisite technical, financial and permitting milestones.

About Silverco Mining Ltd.

The Company owns a 100% interest in the 11,665-hectare Cusi Project located in Chihuahua State, Mexico (the ‘Cusi Property’). It lies within the prolific Sierra Madre Occidental gold-silver belt. There is an existing 1,200 ton per day mill with tailings capacity at the Cusi Property.

The Cusi Property is a past-producing underground silver-lead-zinc-gold project approximately 135 kilometres west of Chihuahua City. The Cusi Property boasts excellent infrastructure, including paved highway access and connection to the national power grid.

The Cusi Property hosts multiple historical Ag-Au-Pb-Zn producing mines each developed along multiple vein structures. The Cusi Property hosts several significant exploration targets, including the extension of a newly identified downthrown mineralized geological block and additional potential through claim consolidation.

On Behalf of the Board of Directors

‘Mark Ayranto’

Mark Ayranto, President & CEO
Email: mayranto@silvercomining.com

For further information, please contact:

Investor relations & Communications
Email: info@silvercomining.com
www.silvercomining.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement and Forward-Looking Information

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (together, ‘forward-looking statements’) within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or the Company’s future performance and are generally identified by words such as ‘anticipate’, ‘believe’, ‘continue’, ‘could’, ‘estimate’, ‘expect’, ‘forecast’, ‘goal’, ‘intend’, ‘may’, ‘objective’, ‘outlook’, ‘plan’, ‘potential’, ‘priority’, ‘schedule’, ‘seek’, ‘should’, ‘target’, ‘will’, and similar expressions (including negative and grammatical variations).

Forward-looking statements in this release include, but are not limited to: the Company’s interpretation of geological results at the Cusi Property; the significance of the intercepts; program, estimates or expectations regarding true widths, AgEq calculations, metallurgical recoveries and comparability; the possible expansion and/or upgrading of mineral resources; availability and terms of financing; the filing or availability of figures and additional technical information; and any other statements that express management’s expectations or beliefs of future events or results.

These forward-looking statements are based on a number of assumptions that, while considered reasonable by the Company as of the date of this release, are inherently subject to significant business, technical, economic and competitive uncertainties and contingencies. Key assumptions include: the accuracy, representativeness and continuity of sampling and assay results; that drill hole orientation and modeling reasonably estimate true widths; that metallurgical recoveries used to calculate AgEq (90% Ag, 50% Au, 90% Pb, 60% Zn) are reasonable proxies based on historical operational data at Cusi; the availability of drill rigs, personnel and analytical laboratory capacity on expected timelines; timely receipt of permits and approvals necessary for planned work; access to surface rights and community support; no material adverse changes to general business, economic, market and political conditions; commodity price and foreign exchange assumptions; inflation and input costs remaining within expectations; and the Company’s ability to secure additional financing on acceptable terms when required.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. Such factors include, without limitation: exploration, development and operating risks (including drilling, sampling, assaying, interpretation and modeling uncertainties; variability of mineralization; representativity of samples; true-width estimation; metallurgical variability; water management; geotechnical and ground conditions); risks inherent in estimating or converting mineral resources; the absence of current mineral reserves at the Cusi Property; that AgEq is a reporting metric only and does not imply economic recoverability; permitting, licensing and regulatory risks in Mexico (including changes in mining, environmental, labour, water, land access and related regimes); community relations, social licence and stakeholder engagement risks; title, surface rights, access and environmental liability risks; health, safety and security risks; commodity price and FX volatility (silver, gold, lead, zinc; MXN/CAD/USD); cost inflation, supply-chain disruptions and contractor availability; political and macroeconomic instability; financing and liquidity risks (including the availability and terms of debt and/or equity); TSX Venture Exchange and other regulatory approvals; counterparty risks; limitations and uncertainties relating to historical data and third-party reports; force majeure events; litigation and enforcement risks; and those additional risks set out in the Company’s public disclosure filings available on SEDAR+ at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking statements. The purpose of forward-looking statements is to provide readers with information about management’s current expectations and plans and may not be appropriate for other purposes. No assurance can be given that such statements will prove to be accurate; actual results and future events could differ materially. The Company undertakes no obligation to update or revise any forward-looking statements contained herein, except as required by applicable securities laws

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(TheNewswire)

HIGHLIGHTS

• Underground rehabilitation of the historic mine workings and preparation of drill stations is anticipated to begin next week 

• Underground delineation drilling is expected to commence by the second half of March 

• An application for the environmental permit required for surface drilling has been submitted and the Company anticipates that the program could commence in approximately 90 days 

• A second round of metallurgical testing is underway that will optimize the results of the first round of preliminary high level scoping testing, which achieved 95.1% gold recoveries.  Head assays of a five-sample main zone composite returned 7.7 g/t Au and 116 g/t Ag, implying a robust head grade for future operations 

• A community agreement has been signed with the local Ejido El Carmen covering all work that Pinnacle is undertaking to advance the project towards a production decision 

Having completed extensive underground and surface channel sampling and 3D modeling, the Company is now in a position to commence rehabilitation of the historic mine workings on the main Dos de Mayo vein trend.  Underground delineation drilling will commence following the preparation of drill stations.  In addition, an application for the surface drilling permit has been submitted, a second round of metallurgical testing is underway, a feasibility study for the extension of the powerline has been commissioned and a new access agreement has been signed with the local community.

‘One year in, we are extremely pleased with the progress to date on the Potrero Project,’ stated Robert Archer, President and CEO of Pinnacle. ‘The commencement of underground rehabilitation is a significant milestone in the advancement of the project as it is not often that the first drill program on a project comprises underground delineation drilling rather than surface exploration.  We believe that the underground drilling program will be followed immediately by surface drilling.  Following on the excellent results of our first round of metallurgical tests that returned an average of 95.1% gold recovery, this current round of tests will add mineralogical studies, more extensive gravity separation and optimization of leach tests.  The feasibility study for the powerline extension will provide the details we need to get approval from the Comisión Federal de Electricidad (the ‘CFE’) and give us an estimate of costs and time required for this activity.  Importantly, we have signed an agreement with the local Ejido El Carmen supporting our work on their land covering the northern block of the Potrero Project where the mines and plant are located.  With all of this work moving forward in parallel to de-risk the project, we anticipate being able to make a production decision before year-end.’

Underground Rehabilitation and Delineation Drilling

Having taken more than 800 systematic channel samples in the three historic mines along the Dos de Mayo vein trend, Pinnacle geologists have a very good idea of where the principal mineralized zones are located and now need to define their size, shape and average grade.  A local Mexican mining contractor is mobilizing equipment to site, and the rehabilitation work will entail enlargement of the main access adits, sub-levels, and drill stations, whereby the drilling equipment will be able to be brought into the mines and set up with adequate working spaces.  Of primary importance is that all mine workings will be secure from a safety perspective.

As there are three historic mines, and the drilling program has been broken into two phases, we will prioritize the drill stations for Phase I and move between mines in order to start drilling sooner rather than waiting for all drill stations to be completed.  This will provide greater flexibility and allow us to speed up the program.  At present, it is contemplated that 14 underground drill stations will be constructed in the Dos de Mayo and Pinos Cuates mines.   After consideration of the location of the mineralization in the La Dura mine, it was decided that it would be more efficient and cost effective to drill this from surface.  A total of 2,423 metres in 107 holes is currently planned but this is subject to modification as the program progresses.

The mine rehabilitation and drill station preparation is anticipated to take approximately 6 weeks to complete but by staggering the work between the three mines, the Company is planning on commencing the drilling prior to the completion of all the underground preparatory work.  As such, it is anticipated that the drilling will commence in late March or early April.  Further details on the drill program will be provided at that time.

Permitting

An application for the environmental permit required for surface drilling has been submitted to SEMARNAT, the Mexican environmental authority.  It is anticipated that a permit could be issued within 60-90 days, which would allow the surface drilling to follow immediately after the underground drilling.  The Company has also been notified verbally of the approval of a water permit and is awaiting formal written notification.

Metallurgical Testing

As the preliminary metallurgical tests carried out last year were completed without any optimization, a second round of seven samples is being conducted, again at SGS Labs in Durango.  Two samples were taken from the Dos de Mayo mine, two from Pinos Cuates and one from La Dura, and these five were combined into a composite sample after individual head assays were completed.  The reason for the compositing is that this material will likely be blended at the plant once production is underway and determining the best parameters for processing will allow for the design of an efficient flow sheet and the purchase of the appropriate equipment for the plant.  In addition, one sample was taken from each of the Capulin and Estrella veins and will be tested separately to see how they react in comparison to the Dos de Mayo vein.

Importantly, recently received head assays for the samples are very encouraging with the five-sample composite returning 7.7 g/t Au and 116 g/t Ag, while the Estrella sample returned 6.6 g/t Au and 169 g/t Ag and the Capulin sample returned 4.5 g/t Au and 91 g/t Ag.

All seven samples are being individually subjected to high-definition mineralogical examination at the SGS facility in Santiago, Chile using a ‘next generation’ method called TIMA (TESCAN Integrated Mineral Analyzer), an automated system that acquires quantitative mineralogical data using a TESCAN scanning electron microscope equipped with four energy-dispersive X-ray (EDS) detectors.  This approach enables the statistically robust determination of parameters such as mineral content, chemical composition, grain size, distribution, mineral associations, and liberation.  Unlike traditional methods such as point counting or optical petrography, which can be more subjective and time-consuming, automated mineralogy provides more accurate and reproducible results.  This will be particularly useful in determining the silver mineralogy and allow for the optimization of silver recoveries.

Other tests to be included are grinding (liberation sizing), bond ball mill work index (BWi), gravity concentration, bottle cyanidation of gravity tails, overall bulk material bottle cyanidation optimization and filtration tests.  Final results are expected in about 6-8 weeks.

Powerline Extension

Initial discussion held with the Federal Electricity Commission (Comisión Federal de Electricidad. or CFE) were positive and they requested that the Company submit an independent feasibility study for the extension of the powerline to the project site, approximately 4.5 – 5 kilometres along the existing road.  As such, the Company has engaged Grupo Electroconstructor Rueda, S. de R.L. de C.V. of Durango to conduct the study.  Once complete (approximately 45 days) it will be submitted to the CFE for further discussions and a request to proceed.  Any field work will also require environmental permitting for the accessway along the roadside and this will be considered concurrently with the CFE application.  Further details will be provided in due course.

Community Agreement

Due to a decades-old technicality, Pinnacle’s Mexican legal counsel discovered that the private property agreement covering the historic mines and plant is not valid, so the Company has signed an agreement with the local Ejido El Carmen for this area that covers all of the work that needs to be done to advance the Potrero project.  Given the preliminary stage of the project, this initial agreement is good for one year, after which it will be replaced with a more comprehensive agreement.  The Company has strong community support for the project and currently employs several local people in addition to renting houses, upgrading roads, etc.  There is no other commercial activity in this immediate area, and the community members understand the benefits that an operating mine will bring.  The nearby town of Topia has tripled in size, from about 3,000 to 9,000 people, since Great Panther restarted the Topia mine in 2006 and it has operated continuously since then.

The company will provide additional updates on a regular basis as work progresses.

Qualified Person

Mr. Jorge Ortega, P. Geo, a Qualified Person as defined by National Instrument 43-101, and the author of the NI 43-101 Technical Report for the Potrero Project, has reviewed, verified and approved for disclosure the technical information contained in this news release.

Mr. David Salari, P.Eng., a Director of Pinnacle and a Qualified Person as defined by National Instrument 43-101, has also reviewed and approved this news release.

About the Potrero Property

El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).

High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has three historic mines along a 500 metre strike length.  The property has been in private hands for almost 40 years and has never been systematically explored by modern methods, leaving significant exploration potential.

A previously operational 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place. The property is road accessible with a power line within three kilometres.  

Pinnacle will earn an initial 50% interest immediately upon commencing production.  The goal will then be to generate sufficient cash flow with which to further develop the project and increase the Company’s ownership to 100% subject to a 2% NSR.  If successful, this approach would be less dilutive for shareholders than relying on the equity markets to finance the growth of the Company.

About Pinnacle Silver and Gold Corp.

Pinnacle is focused on the development of precious metals projects in the Americas.  The high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt hosts an underexplored low-sulphidation epithermal vein system and provides the potential for near-term production. In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon.  With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long-term, sustainable value for shareholders.

Signed: ‘Robert A. Archer’

President & CEO

For further information contact:

Email:        info@pinnaclesilverandgold.com

Tel.:  +1 (877) 271-5886 ext. 110

Website: www.pinnaclesilverandgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2026 TheNewswire – All rights reserved.

western copper and gold corporation (TSX: WRN) (NYSE American: WRN) (the ‘Company’) is pleased to announce that it has completed its previously announced bought deal public offering (the ‘Offering’) of 22,169,125 common shares of the Company (the ‘Common Shares’) at a price of $4.15 per Common Share for gross proceeds of $92,001,868.75, including the full exercise of the over-allotment option.

The Offering was completed pursuant to an underwriting agreement dated February 12, 2026 entered into between the Company and a syndicate of underwriters led by Stifel Canada, and including ATB Capital Markets Corp., National Bank Financial Inc., Agentis Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., CIBC World Markets Inc. and H.C. Wainwright & Co., LLC (the ‘Underwriters‘). In connection with the Offering, the Company paid the Underwriters a cash commission equal to 5.0% of the gross proceeds, other than on sales of an aggregate of 1,098,500 Common Shares to purchasers on a president’s list.

The net proceeds from the sale of the Common Shares are expected to be used to advance permitting and engineering activity at the Company’s Casino Project in the Yukon and for general corporate and working capital purposes.

The Offering was completed by way of a short form prospectus (the ‘Prospectus‘) filed in all of the provinces of Canada, except Québec, and in the United States pursuant to a prospectus filed as part of a registration statement on Form F-10 (the ‘Registration Statement‘) under the Canada/U.S. multi-jurisdictional disclosure system. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The Prospectus is available on SEDAR+ at www.sedarplus.ca. The Registration Statement is available on EDGAR at www.sec.gov.

Certain directors and officers of the Company (the ‘Insiders‘) participated in the Offering. The Insiders’ participation in the Offering constitutes a ‘related party transaction’ as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘61-101‘). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of 61-101 in respect of the Offering as neither the fair market value of the securities issued to the Insiders nor the consideration paid by the Insiders for such securities exceed 25% of the Company’s market capitalization. The Company will file a material change report in respect of the Offering. However, the Company did not file a material change report 21 days prior to closing of the Offering as the participation of insiders of the Company in the Offering had not been confirmed at that time.

About western copper and gold corporation

western copper and gold corporation is advancing the Casino Project, Canada’s premier copper-gold mine in the Yukon and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with First Nations and local communities to progress the Casino Project, using internationally recognized responsible mining technologies and practices.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward-looking statements concerning the use of proceeds from the Offering. Statements that are not historical fact are ‘forward-looking statements’ as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and other U.S. securities law and ‘forward-looking information’ as that term is defined in National Instrument 51-102 (‘NI 51-102’) of the Canadian Securities Administrators (collectively, ‘forward-looking statements’).

Forward-looking statements are frequently, but not always, identified by words such as ‘expects’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘potential’, ‘possible’ and similar expressions, or statements that events, conditions or results ‘will’, ‘may’, ‘could’ or ‘should’ occur or be achieved. The material factors or assumptions used to develop forward-looking statements include, but are not limited to, that market or business conditions will not change in a materially adverse manner. Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of the Company and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties related to raising sufficient capital in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in the Company’s AIF and Form 40-F, including those under the heading ‘Risk Factors’ and other information released by the Company and filed with the applicable regulatory agencies.

The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

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