Ann: Half Yearly Report and Accounts - 30 June 2024, page-3

Got a reply from the project contact “The Megado Silver King Exploration Drilling project fits the categorical exclusion category 36 CFR 220.6(e)(8) because it will authorize one year or less of minerals exploration operations and less than one acre total ground disturbance. So this project is a CE (categorical exclusion) review as opposed to that of an environmental assessment or environmental impact statement, typically timeframes are shorter between CE review, and a decision and implementation. Alas, this project has stalled in the NHPA (National Historic Preservation Act) Section 106 process for reasons that I don’t understand and therefore am at a loss to explain. Should you require more specific information regarding the Section 106 process I can forward your inquiry to the Forest Archaeologist – let me know. The signing of the decision memo is pending concurrence on the activities from the Idaho State Historic Preservation Office. Without a signed decision memo the Operator has yet to begin any operations in the area this year.”