Ann: Quarterly Activities and Cashflow Report, page-50

Brief highlighting once again below:

- Silver/Lead both appreciating with a fall in AUD directly correlating with an increase in our profit margin
- HLS was run as an alternative beneficiation method to ore sorting receiving lead losses much lower than the 10% assumed in the latest PFS release. (while also achieving significant upgrades)
- Increase in recovery grades from Pb 91% and Ag 87% to 96% Pb and 95% Ag recovery on Fresh composite, and up to 91% Pb and 95% Ag recovery on Oxide composite

This next point will be of high interest from all current and non-current holders. You see, our previous drill campaign only consisted of 6000m infill and expansion drilling with a resource of 16.5mt. Now that program delivered an upgrade from a 16.5mt global resource to a 30mt resource (82% increase in global resource). - We have currently just finished another 6000m infill program with the intent to convert a higher portion of Inferred to Indicated.... We're all standing around estimating a conservative 15mt base case for the next MRE update and PFS release yet we could be looking at potentially 18-20mt Indicated category as we didn't include a further 18 holes that were received just after the latest MRE.

Also important to note, this resource was delivered without having a firm grasp of the geology/deposit in comparison to now, being able to utilise a database full of historic holes. You would think that with the HLS method using the XRT scanning and yielding such compelling results, it would also be useful/beneficial to use an XRF gun to scan the core or drill spoils to help identify mineralisation targeting while waiting on results.

Just a thought. Nearly time to awaken the giant.