Mining

Three holes totalling 744 metres have been drilled along Olaf's Trend 1. A diamond hole of about 450 metres, testing a blind porphyry copper-gold target, is nearing its planned depth.

The Northern Finland Administration Court dismissed all appeals against the granting of the four Exploration Permits. The Finnish Mining Authority had granted the permits, and no application for leave to appeal was lodged with the Supreme Administrative Court of Finland by the deadline of …

Silver reached 1,509 g/t in sample SK-26-002. Sample SK-26-003 returned 1.62% copper, 6.33% lead and 1.33% zinc. Indium reached 13.9 g/t in sample SK-26-001, while antimony reached 16.41% in RN-26-001 and tungsten reached 1,037.2 ppm in RN-26-002.

Geologists inspected outcrops, historical mine workings and existing drill core to inform the next stage of assessment for the San Francisco de los Andes breccia system. The work is intended to build on earlier geological and geochemical information.

Ore processed in October totalled 40,790 tonnes, which the company reports as 79.1% above the September quarter monthly average. Silver produced in the month was 91,905 ounces, up 19.7% on the September quarter monthly average of 76,752 ounces.

Broad surface intervals include 126.3 metres at 0.41 g/t AuEq from trench PO-16a and 95.5 metres at 0.50 g/t AuEq from PO-15. Trench PO-10b returned the highest average grade, at 30.4 metres at 0.64 g/t AuEq.

Under the subscription agreement, Gage provides bothCapital Expenditureand offtake funding for the Sri Lankan project. The company has granted Gage a first right in relation to these capex and offtake arrangements, which gives the investor priority in those areas.