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IVR compared to AZS

IVRTotal Mineral Resource estimated at 9.3Mt @ 139g/t silver and 0.6% lead; for 42Moz contained silver and 55kt contained lead (based on 50g/t silver cut-off grade). The Indicated component is 4.3Mt @ 163g/t silver and 0.6% lead; for 23Moz contained silver and 26kt contained lead. The high grade and additional ounces confirm Paris as possibly the best undeveloped silver deposit in Australia.

Vs

Loma BonitaThe Loma Bonita silver-gold deposit is located 200 to 500 metres east of the Mesa de Plata silver deposit. Significant widths of silver and gold mineralisation are hosted in silicified volcanics and vuggy silica, commencing at or near to surface. The JORC Mineral Resource comprises approximately 5Moz of silver and 150,000oz of gold and mineralisation remains open in all directions.

Mesa de Plata

Silver mineralisation at Mesa de Plata is hosted in flat-lying, silicified volcanic rocks and residual quartz (vuggy silica) which form a prominent ridge. Mineralisation starts at surface with true thicknesses of up to 60 metres and extends throughout the deposit with excellent internal continuity.The JORC Mineral Resource, 100% of which is in the Measured and Indicated categories, comprises 27.4 million ounces of silver, with the near-surface High Grade Zone containing 15.5 million ounces of silver at a grade of 275g/t.