Ann: Very Positive Preliminary Metallurgical Test Work on Maronan, page-18

OK, I picked up an error with MMA's data. The recovery and concentrate grades were in two types of ore bodies and only one ore body which is relevant to 35% of the starter zone is reported in this release. The other ore body which accounts for 65% of the starter zone resource is mentioned in this release and was done by RDM way back in 2015.. I have averaged out the grades and percentages on a basis of 65/35%.

Now the possible achievable 10% increase in lead grade for the 2024 reported lab results only increase the entire starter zone lead grade by 3%. I suspect that Richard is promoting the 1485 g/t silver concentrate grade even though it is only relevant to 35% of the starter zone because it sits at the upper levels of the starter zone and increases cash flow in the initial years.! You can see that when the 65% concentrate grades averaging 854g/t silver is added to the 35% of 1485g/t grades the average drops to 1075g/t.