NYSE │ JSE │ GSE Q4 & FULL YEAR 2025 EARNINGS RESULTS 20 FEBRUARY 2026 MINING TO EMPOWER PEOPLE AND ADVANCE SOCIETIES Nevada, United States INVESTOR NOTE │ DISCLAIMER Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, mine life, total cash costs, all-in sustaining costs, cost savings and other operating results, return on equ ...

Q4 2025 Financial and Operating Results © Copyright 2026 Galiano Gold. All rights reserved. February 13, 2026 Forward Looking Information & Cautionary Statements Certain statements and information contained in this presentation constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are st ...

Core Viewpoint - Galiano Gold Inc. has provided updated Mineral Reserve and Mineral Resource estimates for the Asanko Gold Mine, highlighting significant growth potential through the maiden underground resources at the Nkran and Abore deposits, which are expected to enhance the company's long-term value and mine life [1][3][10]. Mineral Reserve Highlights - Proven and Probable Mineral Reserves are estimated at 47.5 million tonnes at an average grade of 1.29 grams per tonne, containing approximately 1.97 million ounces of gold [2]. - Mineral Reserves were calculated based on varying gold prices, with $1,900 per ounce for Esaase, $1,700 for Nkran, Abore, Adubiaso, and Midras South, and $1,500 for Miradani North and Dynamite Hill [2]. Mineral Resource Highlights - Open Pit Mineral Resources total 77.0 million tonnes at an average grade of 1.27 g/t, containing 3.14 million ounces of gold, with Inferred Mineral Resources estimated at 20.7 million tonnes at 1.14 g/t for 0.76 million ounces [7]. - The maiden underground Mineral Resources at Nkran and Abore are significant, with 3.4 million tonnes of Indicated resources at 2.74 g/t and 6.5 million tonnes of Inferred resources at 2.52 g/t, indicating a total of 0.83 million ounces of gold [15][21]. Business Strategy and Growth Initiatives - The company aims to become a sustainable mid-tier gold producer, focusing on organic growth and mine life extension through exploration and potential acquisitions [10]. - Near-term production growth is expected from improved throughput and higher grades from the Abore deposit, with a forecasted 25% increase in production for FY 2026 compared to FY 2025 [11]. - Medium-term growth is anticipated from the Nkran deposit, with open pit Probable Mineral Reserves of 10.6 million tonnes at 1.67 g/t, expected to yield over 200,000 ounces annually once in full production [13]. Exploration and Future Plans - The company plans to add 1.0 to 1.5 million gold ounces to its combined open pit and underground Mineral Resources and Reserves over the next two to three years through continued exploration [19]. - Ongoing drilling is expected to expand underground Mineral Resources and integrate underground mining into the existing operations, with studies targeted for completion within 12 to 24 months [16][19].

Core Viewpoint - DPM Metals Inc. has updated its Mineral Resource and Mineral Reserve estimate for the Chelopech mine, extending its mine life to 10 years and indicating strong potential for continued resource replacement and exploration success [2][4]. Updated Mineral Reserve and Resource Estimate - The updated Mineral Reserve estimate shows a 42% increase in tonnage to 23.2 million tonnes, with a 12% increase in gold content and a 10% increase in copper content compared to the previous estimate [4][6]. - Proven and Probable Mineral Reserves now contain 1.6 million ounces of gold and 308 million pounds of copper, supporting a mine life extending to 2036 with average production levels of approximately 160,000 gold equivalent ounces per year [7][9]. - The Measured and Indicated Mineral Resource tonnage increased by 20% to 15.3 million tonnes, with grades of 1.96 g/t gold and 0.57% copper [4][14]. - The Sharlo Dere prospect has been included in the updated estimates, contributing 650,000 tonnes at a grade of 1.49 g/t gold and 0.52% copper [8][9]. Life of Mine Plan - The updated Life of Mine (LOM) plan maintains a mining rate of 2.2 million tonnes per year through 2032, optimizing net asset value [19][20]. - The current LOM plan projects total production of approximately 1.2 million ounces of gold, 2.4 million ounces of silver, and 231 million pounds of copper over the mine's life [42]. Exploration Potential - The Wedge Zone Deep discovery is highlighted as a significant opportunity for adding high-grade mineral resources, with further drilling planned to assess its potential [3][27]. - The company is also advancing the Chelopech North and Brevene licenses towards mining concessions, which could enhance future resource availability [29][30]. Financial Metrics and Assumptions - Long-term metal prices assumed for the evaluation of Mineral Reserves are $2,300/oz for gold, $23.00/oz for silver, and $3.50/lb for copper [17]. - The average operational cost applied is approximately $61/tonne, which includes operational and sustaining capital costs [21].

Core Viewpoint - Wesdome Gold Mines Ltd. anticipates a consolidated gold production of 180,000 to 205,000 ounces in 2026, driven by its fill-the-mill strategy and upcoming mineral reserve updates [1][8] Group 1: 2025 Operating Results - In Q4 2025, total ore milled reached 147,270 tonnes, an increase from 122,779 tonnes in Q4 2024 [2] - Gold production for 2025 totaled 185,575 ounces, up from 172,034 ounces in 2024, with Q4 production at 46,638 ounces [2] - The company reported a nearly tripled cash position year-over-year, exceeding $350 million, enhancing financial flexibility for 2026 [2][3] Group 2: 2026 Guidance - Gold production guidance for Eagle River is set at 105,000 to 115,000 ounces, while Kiena is expected to produce 75,000 to 90,000 ounces, marking a 13% increase over 2025 [6][8] - Average processed grades are projected at 13.0 to 14.0 g/t for Eagle River and 8.0 to 9.5 g/t for Kiena [6][8] - Total capital investment for 2026 is estimated at $205 million, with $110 million for sustaining capital and $95 million for growth capital [10] Group 3: Exploration and Growth Initiatives - The company plans a $55 million exploration budget for 2026, focusing on step-out drilling to enhance resource growth [4][15] - Key exploration targets include Kiena Deep and the Presqu'île Zone, with the latter expected to contribute significantly to mill feed once permitted [16][19] - The exploration program aims to replace and grow reserves while testing near-mine growth opportunities [15][19] Group 4: Financial Outlook - Wesdome is positioned to generate significant free cash flow in 2026, supported by higher production and expanding margins [11] - A $100 per ounce change in gold prices is estimated to impact annual free cash flow by approximately $20 million [11] - The company has repurchased 706,100 shares for a total of $14.4 million since initiating its share buyback program [6][11] Group 5: Technical Reports and Updates - Updated technical reports are expected to be released in June 2026, summarizing production and operating costs, along with long-term potential insights [14] - The reports will include an updated Mineral Reserve and Resource Statement as of December 31, 2025 [14]

Core Viewpoint - Heliostar Metals Ltd. has successfully restarted mining operations at the San Agustin mine, which is expected to significantly increase gold production in 2026, generating substantial cash flow at current gold prices [2][3]. Mining Operations - Mining, crushing, and stacking of ore at San Agustin have recommenced, with the company planning to produce 45,000 ounces of gold at an all-in sustaining cost (AISC) of $1,990 per ounce, yielding a margin of over $2,300 per ounce at current gold prices [1][2][3]. - The company has completed two ore blasts and two waste blasts, with 90% of the mobile equipment fleet mobilized to site to meet production targets [5]. Financial Projections - The expected cash flow from mining the current reserve is projected to be approximately $40 million at a gold price of $3,000 per ounce [3]. - The life-of-mine (LOM) plan indicates a probable mineral reserve of 68,000 ounces of gold, with a post-tax NPV of $35.3 million and an IRR of 548% based on a $3,000 per ounce gold price [9]. Drilling Program - A drilling program of 10,000-15,000 meters is underway, with 37 holes completed to date, aimed at identifying extensions of the orebody to potentially increase the mine life [3][13]. - Previous drilling results from the Corner SW target area have shown higher-grade oxide results, enhancing the potential of certain lower-grade areas [14][22]. Technical Report - An amended technical report filed in January 2025 outlines the operational and economic parameters of the San Agustin project, including the estimated initial capital cost of $4.2 million [9][10]. - The report emphasizes the importance of the existing infrastructure, including a crusher and conveyor system with a throughput capacity of 30,000 tonnes per day [10]. Company Outlook - Heliostar is focused on production growth and enhancing shareholder value, with plans to provide formal guidance in January 2026 [3]. - The company has demonstrated progress in crystallizing growth opportunities within its portfolio, including studies on flagship projects like Ana Paula and Cerro del Gallo [3].

Core Viewpoint - Aya Gold & Silver Inc. has filed an updated NI 43-101 Technical Report for the Zgounder Deposit, which includes revised Proven & Probable Mineral Reserves and Mineral Resource Estimates, along with an updated Life of Mine plan extending to 2036 [1][2]. Updated Life of Mine Plan - The updated mine plan supports annual silver production of approximately 6 million ounces over the next 11 years, totaling around 66 million ounces over the Life of Mine [4][6]. - Average operating costs are projected at a cash cost of $16.26 per ounce and $69.47 per tonne of ore processed [6][27]. - Sustaining capital expenditures are estimated at $71 million over the Life of Mine [6][27]. - The mine life has been extended to 2036 based on a capital-efficient open-pit strategy [6][27]. Net Reserve and Resource Growth - Proven & Probable Reserves are now estimated at 73 million ounces of silver at a grade of 145 g/t, reflecting a 4% increase from the previous estimate [6][19]. - The reserve replacement ratio stands at 120%, with additions of 13 million ounces exceeding the 11 million ounces mined since the last estimate [6][19]. - Measured & Indicated Resources total 100 million ounces of silver at 165 g/t, marking a 5% increase from the prior estimate [6][19]. Geological Model and Drilling - The updated geological model incorporates approximately 275,000 meters of drilling since 2021, enhancing confidence in the resource model and mine plan [5][20]. - The extensive drilling and improved geological understanding have led to a more reliable resource model [5][20]. Production and Cost Summary - The Life of Mine plan includes a mix of open-pit and underground mining, with average production projected at approximately 6.2 million ounces from 2026 through 2036 [23][24]. - Total operating costs over the Life of Mine are estimated at $1,067.5 million, with cash costs decreasing over time [24][27]. Mining Methods and Development - A combination of cut-and-fill and longhole stope mining methods will be employed, with a gradual shift towards longhole mining [27]. - Open-pit mining is expected to continue until 2036, with mining rates averaging 45,000 tonnes per day until 2030 [27].

Core Insights - Thesis Gold Inc. announced positive results from an independent Prefeasibility Study (PFS) for its Lawyers-Ranch Project, indicating strong economic viability and positioning the project among the top-tier development-stage gold projects globally [1][6][7]. Project Overview - The PFS outlines a plan for developing the Lawyers-Ranch Project using both open pit and underground mining methods, with ore processed at a single facility [3][13]. - The project has an after-tax NPV of CAD 2.37 billion and an IRR of 54.4%, with a payback period of 1.1 years [6][7]. Economic Highlights - At a gold price of USD 2,900/oz and silver at USD 35/oz, the project shows a pre-tax IRR of 73.5% and an NPV of CAD 3.73 billion [7]. - Initial capital expenditure is estimated at CAD 736.2 million, with a compelling after-tax NPV to initial capital ratio of 3.2:1 [7][29]. Production Metrics - The project is expected to produce an average of 266,000 AuEq ounces annually in the first three years, totaling 2.84 million AuEq ounces over the life of mine (LOM) [7][12]. - The average all-in sustaining costs (AISC) are projected at USD 1,185 per AuEq ounce [7][29]. Resource Estimates - The maiden Mineral Reserve statement includes 76.16 million tonnes of ore grading 0.97 g/t Au and 28 g/t Ag, resulting in a total AuEq grade of 1.33 g/t [7][25]. - The PFS is based on a Mineral Resource Estimate effective October 16, 2025, with significant potential for resource expansion and discovery [14][20]. Mining Strategy - The mining strategy integrates conventional open pit operations with underground longhole stoping, targeting high-grade zones [35][41]. - Approximately 96.8% of the mill feed will be sourced from open pit mining, with underground mining focused on deeper, higher-grade zones [35][36]. Processing and Infrastructure - The processing plant is designed for a throughput of 13,700 tonnes per day, utilizing a flexible flowsheet to recover gold and silver [44][46]. - Infrastructure includes open pit and underground mines, a processing plant, tailings storage, and supporting facilities [46][49]. Future Opportunities - The PFS identifies opportunities for further optimization in the upcoming Feasibility Study, including potential resource upgrades and exploration targets [10][13].

Core Viewpoint - Americas Gold and Silver Corporation has increased the size of its private placement offering to US$115 million due to strong investor demand, which will consist of 28,750,000 common shares priced at US$4.00 each [2][3]. Group 1: Offering Details - The company has granted underwriters an option to purchase an additional 4,312,500 common shares at the same price, potentially raising an additional US$17.25 million [3]. - The net proceeds from the offering will be allocated towards funding the cash portion of an acquisition, capital expenditures, and working capital at the Crescent Mine, as well as general corporate purposes [4]. - The offering is expected to close around December 3, 2025, subject to regulatory approvals and other conditions [5]. Group 2: Company Background - Americas Gold and Silver is a growing North American mining company focused on producing silver, copper, and antimony from high-grade operations in the U.S. and Mexico [7]. - The company fully acquired the Galena Complex in December 2024, establishing it as a key U.S. silver asset and the leading active antimony-producing mine in the nation [7]. - With Eric Sprott as the largest shareholder, the company is well-funded for growth, having secured a C$50 million deal and a US$100 million term loan [7].

Core Viewpoint - PMET Resources Inc. has entered into a definitive agreement to acquire the Pikwa Property, expanding its land position in the James Bay region of Quebec, which is expected to enhance its exploration potential for multiple commodities [1][6][10]. Acquisition Details - The acquisition involves a 100% interest in the Pikwa Property from Azimut Exploration Inc. and SOQUEM Inc. [1][6] - The Pikwa Property consists of 509 mineral claims covering approximately 10 km of a highly prospective greenstone belt trend [2][3]. - The acquisition is subject to customary closing conditions, including approval from the Toronto Stock Exchange [6]. Geological Potential - The Pikwa Property is located immediately west of PMET's flagship Shaakichiuwaanaan Property and is part of a continuous land position of over 70 km of greenstone trend [3][5]. - The geological setting of the Pikwa Property indicates strong potential for various commodities, including orogenic gold, porphyry deposits, and LCT pegmatites [2][3]. - Historical exploration has identified spodumene-bearing pegmatite and spodumene grains in till, further enhancing the property's potential [3][4]. Strategic Importance - The acquisition is viewed as a strategic addition to PMET's land holdings, consolidating some of the most prospective LCT pegmatite trends globally [5]. - The Pikwa Property includes multiple base and precious metal targets, which have been the focus of historical exploration efforts [4][5]. Financial Considerations - Upon closing, PMET will issue an aggregate of 841,916 common shares at a deemed price of $3.68 per share to Azimut and SOQUEM [8]. - A 1% net smelter return royalty interest will be granted to both Azimut and SOQUEM in relation to the Pikwa Property [8].