HIGHLIGHTS: Pre-tax net present value ("NPV") of $1.747 billion and Internal Rate of Return ("IRR") of 42% and an after-tax NPV of $1.034 billion and IRR of 32% at an 8% discount rate, assuming long-term prices of US$49.59 per kilogram ("kg") or US$22.50 per pound ("lb") of molybdenum ("Mo"); US$8.93 per kg or US$4.06 per lb. of copper ("Cu") and US$300 per metric tonne unit ("MTU") or US$13.60 per lb of tungsten ("W"); and a CAD:US dollar exchange rate of $0.74;20-year mine life based on 10,000 tonnes of ...

Trading Symbol: TSX/NYSE American: SVM Vancouver, BC, Dec. 22, 2025 /PRNewswire/ - Silvercorp Metals Inc. | Item | Unit | Value | | --- | --- | --- | | Gold Price | $/oz | 2,600 | | Silver Price | $/oz | 31 | | Zinc Price | $/lb | 1.27 | | Lead Price | $/lb | 0.91 | | Total Mill Feed | Mt | 21.34 | | Annual Processing Rate | Mtpa | 1.8 | | 1Average Gold Grade | g/t | 2.15 | | 1Average Silver Grade | g/t | 14.20 | | 1Gold Recovery | % | 93.9 | | Total Payable Gold | koz | 1,375 | | Total Payable Silver | koz ...

(All amounts are in US$) PEA Highlights: High-grade updated resource: Underpinned by G2’s updated Mineral Resource Estimate, including 1.6 Moz Au at 3.24 g/t Au (Indicated) and 1.9 Moz Au at 3.31 g/t Au (Inferred), incorporating six months of new drilling.Long life, significant production and industry-leading margins: 14-year LOM underground and open pit operation with average annual gold production of 281,000 ounces at AISC¹ of $1,137/oz Au from years 2 through 11.Attractive capital profile: Initial capita ...

Core Insights - Desert Gold Ventures Inc. has released an updated Preliminary Economic Assessment (PEA) for its SMSZ Gold Project in Mali, indicating a robust economic outlook with an after-tax NPV of USD $61 million and an IRR of 57% at a gold price of USD $2,850 per ounce [2][4][10] Project Overview - The PEA includes the Barani and Gourbassi deposits, projecting an increase in production capacity from 18,000 tonnes per month to approximately 36,000 tonnes per month over a mine life of 10 years [3][6] - The total gold production is estimated at 130,700 ounces, with 113,100 ounces expected to be recoverable through a gravity and CIL processing method [4][25] Financial Metrics - At a gold price of USD $2,850 per ounce, the project shows an after-tax NPV of USD $61 million and an IRR of 57%, with a payback period of 2.5 years [4][10] - If the gold price rises to USD $4,070, the after-tax NPV increases to USD $124 million, with an IRR of 101% and a payback period of 2.1 years [5][10] Production and Cost Estimates - The average all-in sustaining cost (AISC) is estimated at USD $1,137 per ounce, with total cash costs at USD $29.70 per tonne processed [7][22] - The project anticipates a cumulative cash flow of USD $126 million after tax over the 10-year mine life [11] Mining and Processing Strategy - The mining plan is structured in two phases, starting with Barani East and transitioning to Gourbassi, utilizing a modular processing plant to minimize initial capital costs [6][58] - The average strip ratio for the combined operations is estimated at 2.60:1, with a total of approximately 11 million tonnes of waste rock and 4.24 million tonnes of ore planned to be mined [9][37] Mineral Resource Estimate - The current PEA focuses on oxide and transitional mineralization, with total Measured and Indicated Resources at 11.12 million tonnes grading 0.94 g/t Au for 336,800 ounces [27][30] - The study excludes deeper sulfide mineralization, which may provide additional resources for future evaluations [28][33] Exploration and Future Plans - The company plans to continue exploration across Barani, Gourbassi, and Gourbassi East, with multiple near-mine targets identified for potential resource expansion [8][60] - Advanced discussions are underway with potential partners for funding to commence construction at Barani East [60]

Core Viewpoint - Heliostar Metals Ltd. announced a Preliminary Economic Assessment (PEA) for the Ana Paula Project, indicating strong economic potential for an underground gold mine in Guerrero, Mexico, with plans to advance the project towards production by 2028 [1][2]. Economic Assessment - The base case scenario shows a post-tax NPV of US$426 million, an IRR of 28.1%, and a payback period of 2.9 years at a gold price of US$2,400/oz [4][12]. - The upside case indicates a post-tax NPV of US$1,012 million, an IRR of 51.3%, and a payback period of 1.9 years at a gold price of US$3,800/oz [4][15]. - The project is expected to produce approximately 874,700 ounces of gold over a nine-year mine life, averaging 101,000 ounces per year after ramp-up [4][32]. Production and Cost Metrics - The life-of-mine average all-in sustaining cost (AISC) is projected at US$1,011/oz, placing it in the lowest 13% of global costs for currently producing gold mines [4][12]. - Average annual after-tax free cash flow is estimated at US$93.8 million at a gold price of US$2,400/oz, increasing to US$168 million at US$3,800/oz [4][15]. Resource Estimates - The PEA is based on a resource update with 742,000 ounces classified as Measured and Indicated and 514,000 ounces as Inferred [6][7]. - The mill feed inventory includes 972,000 contained gold ounces, with a total of 5,625 kilotonnes of mill feed [8]. Development Plans - The company plans to accelerate development steps, including the restart of decline development in 2026, to de-risk the project and conduct exploration drilling [2][38]. - An early works program is expected to cost approximately US$15 million, funded by free cash flow from existing operations [38][40]. Next Steps - Heliostar has completed 10,909 meters of a 15,000-meter drilling program, with results expected every 4-6 weeks to support the ongoing Feasibility Study [37]. - The company aims to submit a permit amendment in Q1 2026 to alter previously granted open pit permits for the underground extraction plan [37].

Project Overview - The Boumadine PEA presents a district-scale, low-cost, precious metals growth opportunity [1, 2] - The project has a low initial CAPEX of $446 million [33] and a low AISC of $1,021/oz AuEq [33, 96] - The project has a mine life of 11 years [34] Financial Highlights - The project boasts a pre-tax NPV(5%) of $2.2 billion and a post-tax NPV(5%) of $1.5 billion, using base case metal prices of $2,800/oz gold and $30/oz silver [33] - The IRR is 69% pre-tax and 47% post-tax, with a payback period of 1.3 years pre-tax and 2.1 years post-tax [33] - The NPV:Capex ratio is 5:1 pre-tax and 3:1 post-tax [33] - The Life of Mine (LOM) revenue is projected at $7.0 billion, with an EBITDA of $3.4 billion and a Free Cash Flow (FCF) of $2.8 billion pre-tax and $2.0 billion post-tax [38] Production and Resources - The project anticipates an average annual production of 401,000 oz AuEq in the first 5 years and 328,000 oz AuEq over the LOM [73] - The updated Mineral Resource Estimate (MRE) in February 2025 showed an increase of 120% in indicated and 19% in inferred contained metal in koz AgEq compared to the 2024 estimate [56]

Core Viewpoint - LaFleur Minerals is advancing its twinned-hole drilling program at the Swanson Gold Deposit to support a Preliminary Economic Assessment (PEA) for restarting gold production at the Beacon Gold Mill, leveraging high gold prices and historical drilling data to enhance economic viability [1][7][17]. Drilling Program Details - The twinned-hole drilling program will consist of 10 holes aimed at collecting data to confirm the economic viability of a potential open-pit operation, targeting areas near historical drill hole locations [2][3]. - Historical drilling data includes over 36,000 meters from 242 drill holes, with significant high-grade intervals such as 69.3 meters at 3.03 g/t Au and 51.0 meters at 3.46 g/t Au [2][9]. Historical Data Validation - The drilling program aims to validate historical drilling conducted by Lac Minerals, Phoenix Matachewan Mines, and Agnico-Eagle Mines, confirming the continuity of high-grade shear zones and improving the mineral resource estimate [3][6]. - The confirmation drilling will also address gaps in the existing resource model, potentially enhancing the estimate of total gold ounces and reducing the strip ratio [3][6]. Strategic Location and Infrastructure - The proximity of the Swanson Gold Deposit to the Beacon Gold Mill, located in the Abitibi Greenstone Belt, positions the company favorably within a major gold-producing region [4][19]. - The Beacon Gold Mill, a recently modernized facility capable of processing 750 tonnes per day, is undergoing upgrades and repairs to prepare for recommissioning [13][14]. Economic Potential - The current gold price, hovering around US$4,000 per ounce, significantly enhances the economic appeal of restarting the Beacon Gold Mill, offering strong margins and accelerated payback potential [17]. - The company estimates approximately 10,000-20,000 tonnes of mineralized stockpiles available for initial trial runs, which will help fine-tune operations before full production [15][19]. Market Context - Recent regional mergers and acquisitions indicate that major global producers are entering the Val-d'Or camp to secure long-life, low-risk gold assets, validating the strategic importance of LaFleur's projects [15][19]. - The combination of the Beacon Gold Mill and Swanson Gold Project may be undervalued compared to district pricing precedents established through regional M&A activity [15].

Core Viewpoint - Aldebaran Resources has released a preliminary economic assessment (PEA) for its Altar copper-gold project in Argentina, indicating a mine life of 48 years and significant production potential [1][2]. Project Overview - The PEA is prepared in accordance with National Instrument 43-101 standards and presents a base-case scenario with a concentrator capacity of 60,000 tonnes per day [1]. - Aldebaran holds an 80% interest in the project, with the remaining 20% owned by Sibanye-Stillwater [2]. Production Estimates - Average annual production for the first 20 years is projected at 121,445 tonnes of copper equivalent (CuEq), comprising 108,579 tonnes of copper, 43,199 ounces of gold, and 570,217 ounces of silver [2]. - Over the initial 30 years, average annual production is expected to be 116,294 tonnes CuEq, including 105,897 tonnes of copper, 33,866 ounces of gold, and 557,239 ounces of silver [3]. - For the entire life of mine, average annual output is anticipated to be 101,413 tonnes CuEq, with 92,891 tonnes of copper, 27,020 ounces of gold, and 525,192 ounces of silver [3]. Economic Metrics - The project is expected to generate an after-tax net present value (NPV) of $2 billion (C$2.8 billion) at an 8% discount rate, with an internal rate of return (IRR) of 20.5% and a payback period of four years [4]. - Total life of mine gross revenue is estimated at $44.7 billion, with cumulative free cash flow of $10.7 billion [4]. - At higher spot prices, the after-tax NPV could increase to $3.34 billion and the IRR to 28% [4]. Capital and Mining Strategy - The upfront capital requirement is reduced by adopting a staged approach to tailings storage and underground construction [5]. - Capital intensity is calculated at $15,713 per tonne of average annual CuEq metal produced, with an NPV to initial capex ratio of 1.27 times [5]. - The mining operation will utilize a combination of open-pit and underground mining methods, with the underground strategy aimed at accessing higher-grade mineralization earlier [6].

Core Insights - Cygnus Metals Limited announces the promotion of Nick Kwong from COO to President/CEO, effective December 12, 2025, following Ernest Mast's transition to Non-Executive Director [1][4] - The company is focusing on a dual strategy of exploration/resource growth and updating the 2022 Preliminary Economic Assessment (PEA) [3] Leadership Transition - Nick Kwong has over 20 years of experience in mining engineering, having served as COO of the Chibougamau Project since 2022 and held senior roles at Maaden and New Gold Inc. [2] - Ernest Mast has played a crucial role in the Chibougamau Project and will maintain his influence as a Non-Executive Director [4] Strategic Focus - The updated PEA will incorporate growth in mineral resources, including the high-grade Golden Eye deposit, and improved commodity prices for copper, gold, and silver [3] - Following the PEA update, the company will shift its focus to completing a feasibility study and obtaining environmental approvals [3] CEO Contract Details - Nick Kwong's contract as CEO will commence on December 12, 2025, with no fixed term and an annual consultancy fee of C$300,000 [6] - The company will issue 3,000,000 performance rights to Mr. Kwong, with specific vesting conditions tied to the conversion of mineral resources and share price performance [7]

Core Insights - XXIX Metal Corp. expresses gratitude to Chapais residents for their engagement in the Opemiska Project consultations, marking a significant step in community collaboration [2][3] - The Opemiska Project aims to revitalize a historic copper mining site with an estimated investment exceeding C$3.5 billion over approximately 20 years, enhancing local economic benefits [4][5] Project Overview - The Opemiska Project is positioned as one of Canada's most promising copper development initiatives, with a Preliminary Economic Assessment (PEA) indicating robust economic potential [5] - The project includes a processing plant within Chapais to maximize local advantages and is expected to generate significant revenue and job opportunities [4][12] Economic Assessment - The PEA outlines a C$505 million after-tax Net Present Value (NPV) at an 8% discount rate and a 27.2% after-tax Internal Rate of Return (IRR) [6] - Utilizing current metal prices, the after-tax NPV could rise to C$897 million with a 39.3% IRR, indicating strong leverage to increasing copper and gold prices [6][7] Production and Cost Metrics - The project anticipates an average annual production of 59 million pounds of copper, 34,000 ounces of gold, and 174,000 ounces of silver during the first six years [11] - The C1 cash cost is projected at US$1.03 per pound, positioning Opemiska in the lower quartile of the global cost curve [11] Community Engagement - XXIX Metal Corp. is committed to ongoing dialogue with residents, including thematic workshops and regular newsletters to keep the community informed [8][13] - The company plans to establish a monitoring committee to ensure transparency and citizen participation throughout the project's development [13] Future Steps - The company will continue to engage with the Chapais community, providing updates and information through its dedicated website [9] - The management emphasizes the project's potential to deliver long-term economic and social benefits to Chapais and the surrounding region [9]