Doubleview Gold Clarifies Preliminary Economic Assessment Results for the Hat Project; Updated Scenario B NPV Increased to C$7.27 Billion

Core Viewpoint - Doubleview Gold Corp. has provided updates on the Preliminary Economic Assessment (PEA) for its Hat Project, highlighting significant improvements in the project's economic metrics, particularly due to the scandium recovery circuit [2][4]. Economic Assessment - The after-tax NPV(5%) for Scenario B at consensus metal prices has been revised to C$7.27 billion from C$6.94 billion, with an IRR of 19% [2] - At spot metal prices, the after-tax NPV(5%) for Scenario B increased to C$14.85 billion from C$14.52 billion, with an IRR of 32% [2] - The economic contribution of the scandium recovery circuit has been emphasized, increasing the difference in after-tax NPV between the base case (Scenario A2) and Scenario B to C$547 million [3] Project Economics - The PEA indicates a high-margin operation with an after-tax NPV(5%) of C$4.96 billion (A1), C$6.73 billion (A2), and C$7.27 billion (B) at consensus metal prices, and C$11.05 billion (A1), C$13.53 billion (A2), and C$14.85 billion (B) at spot prices [9] - The project supports a mine life of 25 years with a processing rate of 120,000 tonnes per day, underpinned by a resource base of 609 million tonnes at 0.43% CuEq in the Measured and Indicated categories [9][12] Production Profile - The project is expected to produce an average of over 74,000 tonnes of copper, 254,000 ounces of gold, 376,000 ounces of silver, and 2,700 tonnes of cobalt annually during the first 10 years [9] - Life-of-mine average production is projected at 67.6 kt Cu, 217 koz Au, 348 koz Ag, 2.5 kt Co, and 128 tonnes of scandium oxide per year [9] Capital and Operating Costs - Initial capital costs are estimated at C$3,552 million (A1), C$3,601 million (A2), and C$3,828 million (B) [42] - Average site operating costs are estimated at C$16.22 per tonne milled for Scenario A and C$21.92 for Scenario B, reflecting the additional processing requirements [47] Financial Metrics - The project generates average annual EBITDA of C$886 million (A1), C$1,071 million (A2), and C$1,284 million (B) [51] - Total post-tax free cash flow is estimated at C$10,050 million (A1), C$12,961 million (A2), and C$15,437 million (B) [52] Strategic Importance - The Hat Project is positioned as a primary North American source of copper, scandium, and cobalt, with significant contained resources [16] - The project benefits from a stable regulatory environment in British Columbia and aims to engage with local First Nations respectfully [16]