Miraflores Breccia PipeConnected to underlying porphyry?Broad...

Miraflores Breccia Pipe

• Connected to underlying porphyry?
• Broad high grade intercepts including 161m @ 3.23g/t Au from 183m in QM-DH-34
• Miraflores DFS (2017) underpins core value. DFS demonstrated NPV US$89M at US$1,400/oz gold price with modest CapEx (US$72M).
• Reserve - 4.32Mt @ 3.29g/t Au for 457koz gold
• Measured and Indicated Mineral Resources of 9.27Mt @ 2.82g/t Au and 2.77g/t Ag for 840koz gold & 826koz silver (includes Reserve)
• Environmental Licence for development granted October 2023

1		KEY FINANCIAL INDICATORS	UNIT	US ,200 Au/oz	US ,300 Au/oz	US ,400 Au/oz
2	C1 Cash Cost	US$ per Au/oz	595	599	603
3	AISC - cost	US$ per Au/oz	639	643	647
4	EBITDA (LoM Average)	US$m/annum	27.3	29.4	35.8
5	NPV @ 5%	US$M	75	96.1	117
6	NPV @ 8%	US$M	55	72.3	89.8
7	IRR	$%	21	25.1	28
8	Payback	Years	4.1	3.6	3.3

First released on 14 March 2017 (Resource) and 27 Nov 2017 (Reserve).LCLconfirms in the subsequent public report that all the material assumptions underpinning the Miraflores project, or the forecast financial information derived from the Miraflores project, in the initial public report referred to in rule 5.16 or rule 5.17 (as the case may be) continue to apply and have not materially changed. See Resources and Reserves page for further detail.

31/1/22

Tesorito Gold Porphyry

• Less than 1km from proposed Miraflores plant location
• Very wide porphyry intercepts from near surface. 16 drill holes of 200+m grading ~1g/t Au including 320m @ 1.5g/t Au from surface.
• 50+ diamond holes, targeting MRE calculation H1 2022
• Inferred Resource of 1.3Moz @ 0.81g/t

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Ceibal Gold Porphyry

• 1km from Miraflores and Tesorito
• Same structural controls and similar lithology to Tesorito
• Extensive gold intercepts from surface including 586m @ 0.51g/t Au from surface in CEDH02

22/11/21

Dosquebradas Porphyry

• ~2km from Miraflores
• Inferred Resource: 0.46Moz @ 0.71g/t Au
• Mineralisation from surface. Intercepts include-
  • 511m @ 0.58g/t Au from surface including 200m @ 0.98g/t Au from 122m in QDQ_DH_02

Chuscal

• Large surface anomalism
• Two possible porphyry targets overprinted by mineralised epithermal veining
• Drill intercepts include –
  • 350m @ 0.57g/t Au from surface in CHDDH01 (porphyry associated gold)