Bravada Updates In-Pit Resource for Wind Mountain Project, Nevada - Seite 2

Notes:

• The Effective Date of the Wind Mountain mineral resources is September 03, 2025.
• The estimate of mineral resources was done by RESPEC in Imperial tons.
• Mineral Resources comprised all model blocks at a 0.004oz Au/ton cut-off for Oxide, 0.008oz Au/ton for Mixed, and 0.009 oz Au/ton for Unoxidized material within an optimized pit.
• The project mineral resources are block-diluted Mineral Resources potentially amenable to open pit mining methods and reported within optimized pits using a gold price of US$2,400/oz, a silver price of US$28.80/oz and a throughput rate of 20,000 tons/day resulting in a potential mine life of 11 years with a potential strip ratio of 0.36:1 waste:ore. Assumed metallurgical recoveries for gold are 62% for oxide, 20% for mixed and 15% for unoxidized. Assumed mining costs are US$3.00/ton mined, heap leach processing costs of US$3.29/ton processed, general and administrative costs of $0.66/ton processed. Gold and silver commodity prices were selected based on analysis of the approximate three-year running average.
• Material in waste dumps and heap leach pads are NOT included in the current model and resource.
• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
• The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
• Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content.

RESPEC notes that additional studies such as further metallurgical studies to evaluate crushing higher-grade portions of the deposit and grid drilling to delineate economic portions of the previously mined "waste rock", which are given no value in the current model, could further enhance the economics. For example, RESPEC notes that in the 2022 PEA, 1.1million tons of historic mine waste is currently classified as "waste" and must be removed during Phase I mining; however, results of limited drilling, surface sampling, and trenching by Bravada suggest the material contains potentially recoverable gold.