Cerrado Gold (OTCPK:CRDO.F) Conference March 25, 2026 10:30 AM ET Company ParticipantsMike McAllister - VP of Investor RelationsMike McAllisterGood morning, everybody. My name is Mike McAllister. I'm the Vice President of Investor Relations for Cerrado Gold. Cerrado Gold is not your typical junior mining company. We actually have an asset in production. We have the producing gold asset located in Argentina called Minera Don Nicolás. We'll be producing about 50,000-60,000 ounces of gold there this year. We'r ...

Core Viewpoint - Silverco Mining Ltd. has launched a fully funded 30,000-meter exploration program at its 100% owned Cusi Mine in Mexico, focusing on resource expansion and operational restart preparations [1][3]. Exploration Program Highlights - The exploration program aims to aggressively expand resources and test high-potential exploration targets across the Cusi property [2]. - The program will utilize both surface and underground drilling rigs, with an even split between the two [1]. Key Areas of Focus - **San Juan**: The program will explore a significant extension across the Cusi fault, with previous drilling results showing 6.8 meters grading 255 g/t AgEq, indicating a potential continuation of the San Juan vein [3][4]. - **San Miguel**: This area has indicated resources of 1.3 million tonnes at 258 g/t AgEq and inferred resources of 2.03 million tonnes at 249 g/t AgEq. The 2026 drilling campaign will test beyond current resource boundaries [7][10]. - **Promontorio**: Underground drilling will focus on validating and increasing the definition of initial mining areas, with initial mining expected to begin on the Promontorio East veins, which have high-grade material [11][12]. Resource Estimates - **San Juan Mineral Resource Estimate**: - Indicated: 0.16 million tonnes at 232 g/t AgEq - Inferred: 0.12 million tonnes at 295 g/t AgEq [6]. - **San Miguel Mineral Resource Estimate**: - Indicated: 1.3 million tonnes at 258 g/t AgEq - Inferred: 2.03 million tonnes at 249 g/t AgEq [10]. - **Promontorio East Mineral Resource Estimate**: - Measured: 0.53 million tonnes at 285 g/t AgEq - Indicated: 0.24 million tonnes at 211 g/t AgEq [14]. Infrastructure and Location - The Cusi Property is located in Chihuahua State, Mexico, within the Sierra Madre Occidental gold-silver belt, featuring existing infrastructure such as a 1,200 ton per day mill and paved highway access [19][20].

Financial Data and Key Metrics Changes - Avino achieved record revenues of $92.2 million for the full year 2025, with Q4 revenues exceeding $30 million, despite lower ounces sold [8][21] - The company reported a net income of $10.5 million or $0.06 per share for Q4, and $26.6 million or $0.17 per share for the full year, significantly up from $8.1 million or $0.06 per share in 2024 [23][24] - Gross profit margin improved to 58% in Q4, up from 43% in the same quarter last year [22] Business Line Data and Key Metrics Changes - Silver production represented over 50% of consolidated silver equivalent production in Q4, marking a return to being a primary silver producer [7][15] - The company processed 11,995 tons of material from La Preciosa during the quarter, contributing to overall production results [10][20] Market Data and Key Metrics Changes - Avino was named fifth among the top performing companies on the Toronto Stock Exchange 2025 TSX30, with a share price performance increase of 610% over three years [16] - The company was added to several ETFs, enhancing institutional recognition and liquidity [17] Company Strategy and Development Direction - The company aims to transform into a multi-asset Mexican mid-tier producer, focusing on strategic exploration and drilling to unlock resource potential [6][35] - Plans for 2026 include approximately 30,000 meters of drilling, with a goal to reach a production rate of 500 tons per day at La Preciosa [36][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong balance sheet supporting transformational growth plans, with expectations of continued silver revenue growth [9][21] - The company is integrating AI technology to enhance exploration efficiency and data analysis [35] Other Important Information - Cash position reached a record $102 million at year-end, with working capital just shy of $100 million [25] - The company has no secured debt other than leases on operating equipment [26] Q&A Session Summary Question: Impact of market fear on M&A opportunities - Management indicated that while market conditions affect M&A, they are focused on organic growth and existing assets [48][49] Question: Changes in labor costs and model adjustments - Management noted a stabilization in labor costs after a significant jump in previous years, with no expected material changes at this time [51] Question: Potential acceleration of work at La Preciosa - Management confirmed that they are evaluating options to accelerate planned work, including new equipment orders [60][61] Question: Share count and capital return strategy - Management discussed the focus on organic growth while considering shareholder returns and minimizing dilution [68][69] Question: Mill expansion plans - Management confirmed that mill expansion is a safe assumption, with ongoing evaluations for appropriate sizing [73][74] Question: Operating cost optimization amidst inflation - Management acknowledged consistent operating costs with some volatility, but noted that they are managing costs effectively [78][80] Question: Potential for open-pit mining at La Preciosa - Management is revisiting feasibility studies to explore the possibility of open-pit mining, which could significantly impact production outlook [89][90]

Core Viewpoint - A2Gold Corp. has initiated a fully funded 30,000-metre reverse circulation drill program at its Eastside Gold Project in Nevada, significantly expanding from a previously announced 18,000-metre program, aimed at advancing and growing existing resources while exploring high-priority targets [1][2][3] Group 1: Drill Program Details - The 2026 drill campaign will focus on step-out and infill drilling in known mineralization areas, as well as exploration drilling for new targets identified through geological mapping and reinterpretation of historical data [3] - The drill program is expected to continue throughout the year, depending on results and operational conditions, with assay results released as they are validated [2][4] Group 2: Company Position and Strategy - A2Gold's CEO emphasized the importance of the drill program as a milestone for the company, highlighting a strong balance sheet and commitment to advancing the Eastside project [4] - The Eastside Gold-Silver Project currently hosts an inferred resource of 1.4 million ounces of gold and 8.8 million ounces of silver, with mineralization open in all directions [6] Group 3: Technical Oversight and Project Background - The drill program is overseen by A2Gold's technical team, utilizing multiple RC rigs for efficient progress [4] - The Eastside project is located in a mining-friendly jurisdiction and is supported by excellent infrastructure, with preliminary metallurgical testing indicating amenability to heap leaching [8]

Core Viewpoint - Minaurum Gold Inc. is expanding its Phase II resource-expansion drill program at the Alamos Silver Project from 25,000 meters to 50,000 meters, driven by strong institutional interest in ongoing financing [2][4]. Drill Program Expansion - The expanded drill program will allow the company to test more vein-zone targets and grow the mineralized footprint, supporting a major resource update planned for 2026 [2][3]. - The program will focus on infill and step-out results from Phase I drilling, with multiple rigs on site and 263 drill pads already permitted [2][3]. Resource Identification - Minaurum has identified 26 vein zones within an 11 km x 6 km area, covering only one-fifth of the Alamos Silver Project, with 13 of the 19 drilled vein zones returning high-grade silver intercepts [3]. Stock Option Grant - The company has granted 3,160,000 stock options to directors, officers, and consultants, exercisable at a price of $0.36 for five years, with vesting occurring in four equal installments [7].

Company Update - Goldshore Resources Inc. has officially changed its name to Gold X2 Mining Inc., with the new ticker symbol "[AUXX]" set to commence trading on the TSX Venture Exchange on September 4, 2025 [2][3] - Tom Obradovich has been appointed to the Board of Directors, bringing over 42 years of experience in mining exploration, development, and financing [4][5] - The company has completed the repurchase of a 1% NSR from Wesdome Gold Mines, enhancing the long-term economics of the Moss Gold Project [12] Project Development - Gold X2 Mining is focused on advancing the Moss Gold Project, aiming to build a top-10 producing gold mine in Canada through holistic de-risking strategies [6][10] - A Preliminary Economic Assessment (PEA) and an updated Mineral Resource Estimate (MRE) are scheduled for release in Q4 2025, incorporating over 21,000 meters of new drilling data [6][10] - The current MRE for the Moss Gold Project includes 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au [14] Financial and Operational Strategy - The company is well-funded to execute its corporate objectives through Q1 2026, supporting a 50,000-meter drill program [6][10] - Juciane Gomes Goncalves will assume the role of Interim Chief Financial Officer following the departure of Erica Borgstrom, ensuring continuity in financial strategy [9] - The company is targeting a potential listing on a major U.S. exchange in the second half of 2026 [12]

Corporate Overview - Hillgrove Resources has a share price of $0.036 and a market capitalization of $94 million [9] - The company possesses $11 million in cash and $282 million in income tax losses [9] - Freepoint Metals & Concentrates is a major shareholder with 18.9% ownership, followed by Ariadne Australia with 10.3% [9] Production and Cost Metrics (June 2025 Half) - Total tonnes processed reached 669kt with a grade of 0.88% [25] - Copper production amounted to 5,545 tonnes, and payable copper sold was 5,481 tonnes at an average realized price of A$14,232 per tonne [25] - C1 Costs were A$4.68/lb, and All-in Cost excluding Nugent was US$4.10/lb [25] Resource and Reserve - The 2024 Kanmantoo Mineral Resource Estimate is 19.3Mt grading 0.77% Cu and 0.14g/t Au, containing 150kt Cu and 82koz Au [30] - The 2024 Maiden Ore Reserve is 2.8Mt grading 0.91% Cu and 0.15g/t Au, containing 26kt Cu and 14koz Au [30] - Compared to the 2022 Mineral Resource Estimate, there was a 96% increase in contained copper and a 138% increase in contained gold [31] Future Plans - The company plans approximately 20 Km of drilling in 2025 targeting resource expansion, with an early focus on Valentines, Kavanagh, and Nugent [32] - Nugent development aims to reduce mining and processing unit costs by approximately 15-20% [23]

Core Viewpoint - Revival Gold Inc. has commenced field work for its gold development projects in Utah and Idaho, focusing on enhancing project value through various operational activities [1]. Group 1: Mercur Gold Project, Utah - Field work is actively progressing at the Mercur Gold Project, with plans for drilling, metallurgical de-risking, and archaeological data collection to support permitting [4]. - A comprehensive soil sampling program has been completed, involving approximately 1,000 soil samples over 5.7 square kilometers, aimed at establishing geochemical data for resource conversion and expansion drilling [6]. - Archaeological surveys have been conducted to support permitting for planned drilling, with further surveys expected later this year [6]. - Drill permitting and preparations are underway for a proposed program of approximately 13,000 meters of drilling in 2025, with permit applications submitted and approvals anticipated this summer [6]. Group 2: Beartrack-Arnett Gold Project, Idaho - The Beartrack-Arnett project is prioritized for exploration of its high-grade underground potential, with ongoing metallurgical testing and exploration drilling preparations [4]. - Approximately 60 kilograms of drill core samples from the Joss target area have been submitted for metallurgical testing to evaluate the effectiveness of specific gold extraction processes [6]. - A follow-up drilling program of approximately 4,000 meters is proposed for targets along the mineralized strike, with drill permitting already in place [6]. Group 3: Company Overview - Revival Gold is recognized as one of the largest pure gold mine developers in the United States, advancing the Mercur Gold Project and Beartrack-Arnett Gold Project [7]. - The company is listed on the TSX Venture Exchange under the ticker "RVG" and on the OTCQX Market under "RVLGF," with headquarters in Toronto and an exploration office in Salmon, Idaho [7].