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TSXV: VCU

OTC: VCUFF

September 3, 2026

Vizsla Copper Intersects 49.2 Meters Grading 4.7% Copper Equivalent at its Palmer Project in Southeast Alaska

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Including 27.0 Meters Grading 8.4% Copper Equivalent Within the High-Grade Core of Zone 1

Vancouver, British Columbia, September 3, 2026 – Vizsla Copper Corp. (TSXV: VCU, OTCQB: VCUFF, FRANKFURT: 97E0) (“Vizsla Copper” or the “Company”) is pleased to announce initial assay results from its ongoing 12,250-meter diamond drill program at the Palmer Copper-Zinc VMS Project (the “Palmer Project” or “Palmer”) in Southeast Alaska.

Results from drill holes CMR26-199 and CMR26-201 confirm the continuity of the high-grade copper core within South Wall Zone 1 (Figure 1) and extend the mineralized system downdip. The results include a broad, high-grade copper-zinc intersection in CMR26-199 and confirm substantial mineralized thicknesses in CMR26-201.

Highlights

  • High-grade copper and zinc in drill hole CMR26-199:
    • 49.2 meters grading 4.7% CuEq* (3.05% copper, 4.85% zinc, 21.88 g/t silver and 0.33 g/t gold), including
    • 27.0 meters grading 8.4% CuEq* (5.46% copper, 8.55% zinc, 39.12 g/t silver and 0.58 g/t gold), and including
    • 13.1 meters grading 10.3% CuEq* (9.03% copper, 1.83% zinc, 42.74 g/t silver and 0.78 g/t gold).
  • High-grade copper confirmed downdip in drill hole CMR26-201:
    • 40.4 meters grading 3.0% CuEq* (2.14% copper, 2.43% zinc, 17.28 g/t silver and 0.21 g/t gold), including
    • 25.6 meters grading 3.7% CuEq* (3.14% copper, 1.32% zinc, 13.95 g/t silver and 0.21 g/t gold), and including
    • 12.2 meters grading 4.9% CuEq* (4.63% copper, 0.19% zinc, 13.43 g/t silver and 0.22 g/t gold).
  • Recently expanded exploration program ongoing: Based on initial encouraging results, the 2026 drill program was expanded from 10,000 meters to approximately 12,250 meters. Current drilling is focused on the HG Prospect and the Palmer Extension Target.
  • Further assays expected through the fall: Results from an additional 15 drill holes across the HG, AG, South Wall Zones 2–3 and Waterfall targets are expected from late September through early November, subject to sample shipment and laboratory turnaround times. Results will be released following receipt, verification and interpretation.

* CuEq values are calculated using the assumptions set out in the Notes to Table 1.

Craig Parry, Chair and CEO, commented:
“These high-grade copper results over broad intervals further demonstrate the exceptional potential of this project and the opportunity to build on the existing resource base. With four drill rigs turning across Alaska and British Columbia, at Palmer and at the Thira discovery at our Poplar project, respectively, we are advancing the largest exploration program in Vizsla Copper’s history. We just recently delivered outstanding results from our Woodjam project in British Columbia last week, and these first assays from Palmer, our highest-grade copper project, add to that momentum. The timing could not be better to be advancing a high-quality copper projects in stable mining jurisdictions with the backdrop of a strong copper market and long-term outlook for global copper demand. With further results expected from across our portfolio through the fall, this is shaping up to be an exceptional exploration year for Vizsla Copper.”

Peter Mercer, Senior Vice President, Alaska, added:
"The Zone 1 drilling achieved exactly what it was designed to accomplish: confirming the high-grade copper core and demonstrating its downdip continuity. CMR26-199 delivered an exceptional combination of grade and mineralized interval length, while CMR26-201 extended the mineralization downdip. These results strengthen our geological interpretation and provide a much stronger basis for targeting further extensions. We are now applying that knowledge across Palmer as drilling continues at the HG Prospect and Palmer Extension target, with a substantial pipeline of assay results still to come."

Figure 1. Zone 1 drill hole collars with CMR26-199 and CMR26-201 pierce points. See Table 2 for collar coordinates.
Figure 2. Zone 1 CuEq grade shells with CMR26-199 and CMR26-201 pierce points. CuEq values are calculated using the assumptions set out in the Notes to Table 1.

Zone 1 Assay Results

Initial drilling focused on the high-grade copper-rich core of South Wall Zone 1, which was identified during the 2023 and 2024 exploration programs. Guided by structural interpretations developed following those field seasons, the two drill holes reported here tested the central portion and downdip extent of the core. Assay results confirm the high-grade mineralization within the sulphide intersections described in the Company’s July 20 and August 31, 2026, news releases.

These results confirm the continuity, extend the high-grade core and improve the Company’s understanding of the distribution of copper-rich and zinc-rich mineralization within Zone 1. The drilling has also refined the interpretation of the geological controls on mineralization, which is guiding follow-up drill targeting currently underway as part of the expanded 2026 program.

CMR26-199 intersected 49.2 meters grading 3.05% copper, 4.85% zinc, 21.88 g/t silver and 0.33 g/t gold (4.7% CuEq*) from 305.0 meters to 354.2 meters downhole. The stronger mineralization is concentrated in the lower 27.0 meters of this interval, from 327.2 meters to 354.2 meters. Within that interval, the copper-rich core returned 13.1 meters grading 9.03% copper, 1.83% zinc, 42.74 g/t silver and 0.78 g/t gold (10.3% CuEq*, 39.2% ZnEq*).

CMR26-201 tested the high-grade core approximately 50 meters downdip and returned 40.4 meters grading 2.14% copper, 2.43% zinc, 17.28 g/t silver and 0.21 g/t gold (3.0% CuEq*) from 349.3 to 389.7 meters downhole. This interval includes a copper-rich section from 349.3 to 361.5 meters and a zinc-, silver- and barite-rich section from 367.9 to 379.2 meters.

Mineralization in CMR26-199 and CMR26-201 is characterized by semi-massive to massive sulphide intervals containing chalcopyrite and sphalerite, with associated silver and gold values. The intervals occur within the South Wall Zone 1 mineralized horizon and will be incorporated into the Company’s geological model for the Palmer Deposit.

Table 1. Selected Assay Results — South Wall Zone 1

Reported intervals are downhole drill lengths. True widths are not known unless otherwise stated.

Notes:

1 CuEq defined by equation SW & RW =  ($77.25 x %Cu + $20.32 x %Zn + $9.64 x %Pb + $0.64 x g/t Ag + $43.07 x g/t Au )/ $77.25
2. ZnEq defined by equation SW & RW =  ($77.25 x %Cu + $20.32 x %Zn + $9.64 x %Pb + $0.64 x g/t Ag + $43.07 x g/t Au) / $20.32
3. Barite (BaSO4) is not included in the CuEq and ZnEq values.
4. Metal price assumptions considered for the calculation of Metal Equivalent grades are: Gold (US$/oz 2,100.00), Silver (US$/oz 28.0), Copper (US$/lb 4.50), Lead (US$/lb 0.95) and Zinc (US$/lb 1.50) (SRK, 2025).
5. Estimated metal recoveries (REC) are 90.3% for copper, 89.2% for zinc, 82.9% for lead, 90.2% for silver and 76.1% for gold as determined from metallurgical locked cycle flotation tests completed in 2018 (SRK 2025)

Table 2. Collar Coordinates for Reported Drill Holes

*Coordinates are in UTM NAD 83, Zone 8N. Elevations are in meters above sea level; dips are expressed as positive angles below horizontal.

Figure 3. Mineralization in CMR26-199, including 13.1 meters grading 9.03% Cu, 1.83% Zn and 42.74 g/t Ag (10.3% CuEq*) from 331.6 to 344.7 meters downhole. See the Note regarding drill core photographs.

2026 Program and Next Steps

As announced on August 31, 2026, the Company expanded its planned 2026 diamond drill program from 10,000 meters to approximately 12,250 meters following improvements in drilling productivity and encouraging geological results across Zone 1, HG and AG. Two diamond drill rigs are currently operating at the HG Prospect and the Palmer Extension target.

The Company will continue evaluating the geometry, continuity and extent of the mineralized systems at HG, as well as the AG and Palmer deposits. Geological observations and analytical results will guide the allocation of the remaining program meterage. Further assay results will be released as they become available and following completion of technical review. Previously reported visual observations of sulphide mineralization at HG are preliminary in nature and are not necessarily indicative of grade, continuity or the potential to define a mineral resource. Assay results are pending.

Sampling, Analytical Methods and Quality Assurance / Quality Control

Vizsla Copper follows Quality Assurance and Quality Control (QA/QC) protocols at Palmer covering the planning and placing of drill holes in the field; drilling and retrieving drill core; drill hole surveying; core transport to the Palmer Camp; core logging, sampling and bagging of core for analysis; transport of core samples from site to ALS Laboratory in North Vancouver, BC for sample preparation and analysis; and recording and final statistical vetting of results.

Sampling Procedures

The Company’s QA/QC drill core sample protocol consists of collection of samples over a minimum 0.3 m interval to a maximum 1.5 m interval (depending on the lithology and style of mineralization) over the mineralized portions of the drill hole. The drill core sample is cut in half with a diamond saw, with half of the core placed in individual sealed polyurethane bags and the remaining half securely retained in the original core box for permanent storage.  Drill core samples are shipped by transport truck in sealed woven plastic bags to ALS Geochemistry Analytical Lab facility in North Vancouver, BC for sample preparation and analysis.  ALS Geochemistry meets the requirements of ISO/IEC 17025:2017 and ISO 9001:2015 standards. 

Various metals including copper, lead, zinc and silver were analyzed by inductively coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. The elements copper, lead and zinc are determined by ore grade assay for samples that return values >10,000 ppm by ICP analysis. Silver is determined by ore-grade assay for samples that return >100 ppm by ICP analysis. Gold was determined by fire-assay fusion of a 30 g sub-sample with atomic absorption spectroscopy (AAS). Barium (BaO) analysis utilized lithium borate fusion into fused discs for XRF analyses, with BaO converted to BaSO4 (barite) using a conversion factor of BaO x 1.52217.  Density measurements were determined at the project site by Constantine personnel on cut core for each assay sample.

The Company maintains a robust QA/QC program that includes the collection and analysis of duplicate samples and the insertion of blanks and standards (certified reference material). In addition, prepared samples, sample replicates, duplicates and internal reference materials are routinely used as part of ALS Geochemistry’s internal quality assurance program.

Our Commitment

Vizsla Copper is committed to conducting all exploration activities with a Safety-First mindset. Protecting the health and safety of our employees, contractors and neighbouring communities remains the Company's highest priority. This commitment includes responsible environmental stewardship, rigorous regulatory compliance, and open and timely engagement as the Palmer Project continues to advance.

The most recent approval from the Department of Natural Resources and associated public record are available through the Alaska Department of Natural Resources.

About Vizsla Copper

Vizsla Copper is a Cu-Au-Mo focused mineral exploration and development company headquartered in Vancouver, Canada. The Company is primarily focused on its Palmer VMS project in Southeast Alaska, and its Poplar and Woodjam porphyry-related projects in Central and Southern British Columbia. All of the Company’s projects are well situated amongst significant infrastructure. The Company’s growth strategy is focused on the exploration and development of the properties within its portfolio in addition to value accretive acquisitions. Vizsla Copper's vision is to be a responsible copper explorer and developer in the stable mining jurisdictions of Alaska and British Columbia, and it is committed to socially responsible exploration and development, working safely, ethically and with integrity.

Vizsla Copper is backed by Inventa Capital Corp., a premier investment group founded in 2017 with the goal of discovering and funding opportunities in the mineral resource sector. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.vizslacopper.com).

Note

  1. Photographs of drill core are provided for illustrative purposes only. Visual estimates of mineralization are inherently imprecise and may not accurately reflect true grade. Readers are cautioned that photographic representations of mineralization should not be relied upon as a substitute for analytical assay results and do not represent the average grade of any sample interval.
  2. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Inferred mineral resources are uncertain in nature and there has not been sufficient work to define them as indicated or measured mineral resources. Scientific and technical information relating to the Palmer Mineral Resource Estimate contained in this news release is derived from the technical report dated February 28, 2025, with an effective date of January 13, 2025, titled “NI 43-101 Technical Report, Mineral Resource Estimate, Palmer Project, Alaska, USA”, prepared by Ben Parsons, MSc, MAusIMM (CP), and Kash Kelloff, BSc ChemE, MBA, SME, MMSAQP, of SRK Consulting (U.S.), Inc.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Peter Mercer, P.Geo., Senior Vice President, Alaska for Vizsla Copper, who is a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Contact Information: For more information, please contact:

Craig Parry, Chair & Chief Executive Officer
Tel: (604) 364-2215 | Email: info@vizslacopper.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Forward-looking statements in this news release include, among others, statements relating to: the Company’s exploration plans; the expanded 2026 drill program, including the expected total meterage, allocation of remaining meterage and timing of drilling; the timing and receipt of pending assay results; the potential results of drilling at the HG Prospect and Palmer Extension target; the interpretation of visual observations of sulphide mineralization; the potential geometry, continuity, extent and significance of mineralization at Zone 1, HG and AG; the potential for further exploration or drilling to confirm or expand mineralized zones; the incorporation of geological observations and analytical results into geological models; regional exploration and target refinement; and future plans, projections, objectives, estimates and forecasts.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: risks that visual observations of mineralization may not be confirmed by assay results and may not be indicative of grade, continuity or the potential to define a mineral resource, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, uncertainties associated with mineral resource estimates and the absence of mineral reserves, the limited operating history of the Company, the influence of a large shareholder, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, commodity price volatility including fluctuations in copper, gold and molybdenum prices, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

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COPPERVIEW PROJECT

Notes on Mineral Resource Estimate

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WOODJAM PROJECT

Notes on Woodjam Historical Estimates

The Woodjam estimates are historical estimates within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The historical estimates are not being treated by Vizsla Copper as current mineral resources or mineral reserves. A Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The historical estimates relate to the Southeast, Deerhorn and Takom deposits and were prepared for Gold Fields Horsefly Exploration Corp. and Consolidated Woodjam Copper Corp. with an effective date of May 15, 2013.

The Southeast historical estimate was disclosed in the technical report titled NI 43-101 Technical Report for 2012 Activities on the Woodjam South Property, Cariboo Mining Division, British Columbia, prepared by Ross Sherlock, Ph.D., P.Geo., Gold Fields Canada Exploration BV, and Alex Trueman, P.Geo., MAusIMM CP(Geo), Gold Fields Exploration, Inc., with an effective date of May 15, 2013. The Southeast historical estimate was completed by Alex Trueman, P.Geo., MAusIMM CP(Geo), Chief Resource Geologist, Gold Fields Exploration Inc.

The Deerhorn and Takom historical estimates were disclosed in the technical report titled NI 43-101 Technical Report for 2012 Activities on the Woodjam North Property, Cariboo Mining Division, British Columbia, prepared by Ross Sherlock, Ph.D., P.Geo., Gold Fields Canada Exploration BV, Jacqueline Blackwell, Ph.D., P.Geo., Gold Fields Canada Exploration BV, and Twila Skinner, P.Geo., Gold Fields Canada Exploration BV, with an effective date of May 15, 2013. The Deerhorn and Takom historical estimates were completed by Brian Wolfe, MAIG, Principal Resource Geologist, Gold Fields Australasia Pty. Ltd.

The Southeast and Deerhorn historical estimates were prepared using localized multivariate uniform conditioning, and the Takom historical estimate was prepared using ordinary kriging. Each historical estimate used a cut-off grade of US$8.60/t. The NSR calculation used metal price assumptions of US$1,650/oz Au and US$3.90/lb Cu and recovery assumptions of 69% Au and 85% Cu. The historical estimates were reported within modelled open pit shells based on price assumptions of US$1,650/oz Au and US$3.90/lb Cu.

Vizsla Copper considers the historical estimates relevant because they provide information regarding mineralization identified at the Woodjam Project and assist in guiding exploration planning. Vizsla Copper considers the historical estimates reliable for these limited purposes because they were prepared by qualified professionals using drilling and sampling information collected using modern methods available at the time. However, Vizsla Copper has not independently verified the historical estimates and readers should not rely on them as current mineral resources or mineral reserves.

Additional work required to verify or upgrade the historical estimates as current mineral resources may include, as applicable, data compilation, confirmation drilling, resampling, data verification, verification of historical drill hole locations and survey data, review and validation of historical QA/QC data, density verification, updated geological modelling, a site visit by a Qualified Person and preparation of a current mineral resource estimate and technical report in accordance with NI 43-101.

A Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves, and Vizsla Copper is not treating the historical estimates as current mineral resources or mineral reserves. There can be no assurance that the historical estimates, in whole or in part, will ever be verified as current mineral resources or converted into mineral reserves.

POPLAR PROJECT

Notes on Poplar Historical Estimate

The Poplar estimate is a historical estimate within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The historical estimate is based on the technical report titled Technical Report 2021 Update on the Poplar Deposit, Omineca Mining Division, British Columbia, prepared for Universal Copper Ltd. by James Ashton, P.E., SME-RM and Warren Robb, P.Geo., with a report date of September 2, 2021 and filed under Universal Copper Ltd.’s profile on SEDAR on September 8, 2021.

The historical estimate was reported at a 0.20% Cu cut-off within a modelled mineralized solid. The historical estimate comprises 152.3 million tonnes grading 0.32% Cu, 0.009% Mo, 0.09 g/t Au and 2.58 g/t Ag in the indicated category, and 139.3 million tonnes grading 0.29% Cu, 0.005% Mo, 0.07 g/t Au and 4.95 g/t Ag in the inferred category.

The historical estimate was prepared using a three-dimensional solid to constrain the interpolation of mineralization, using a 0.1% Cu grade limit as a guide. Large internal waste zones and certain post-mineral dykes were modelled. A total of 133 drill holes totaling 38,854 metres within the modelled area were used in the estimate. Copper, molybdenum, gold and silver assays within the mineralized solid were capped at 1.8% Cu, 0.16% Mo, 0.80 g/t Au and 70 g/t Ag, respectively. Five-metre composites were calculated and used for variography. Blocks were 5 m x 5 m x 10 m and were estimated for Cu, Mo, Au and Ag by ordinary kriging. Classification as indicated or inferred was based on each block’s proximity to data and grade continuity within the mineralized solid.

Vizsla Copper considers the historical estimate to be relevant because it provides information regarding the scale and grade of mineralization identified at the Poplar Project and assists in guiding future exploration and evaluation work. Vizsla Copper considers the historical estimate to be reliable for these limited purposes because it was prepared by qualified professionals using drilling, sampling and geological information available at the time and estimation methods considered reasonable when the estimate was prepared. However, Vizsla Copper has not independently verified the historical estimate and it should not be relied upon as a current mineral resource or mineral reserve.

The historical estimate used the categories “indicated” and “inferred”. These categories appear to be generally consistent with the corresponding mineral resource categories under NI 43-101 and the CIM Definition Standards; however, Vizsla Copper has not completed the work required to verify the historical estimate as a current mineral resource.

Additional work required to verify or upgrade the historical estimate as a current mineral resource may include, as applicable, confirmation drilling, verification of historical drill hole locations and survey data, validation of the drill hole database, review and validation of historical QA/QC data, density verification, metallurgical test work, updated geological modelling, application of current CIM Definition Standards and preparation of a current mineral resource estimate and technical report in accordance with NI 43-101.

A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Vizsla Copper is not treating the historical estimate as current mineral resources or mineral reserves. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

PALMER PROJECT

Notes on Mineral Resource Estimate

(1) Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The deposits have been classified as Indicated and Inferred based on confidence in the geological model, drill spacing. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, market or other relevant issues. The quantity and grade of reported Inferred Resources are uncertain in nature and there has not been sufficient work to define these Inferred Mineral Resources as Indicated or Measured Resources. There is no certainty that any part of a Mineral Resource will ever be converted into reserves.

(2) Mineral resources are reported using an assumed NSR which includes prices, recoveries and payabilities cut-off grade based on metal price assumptions*, variable metallurgical recovery assumptions**, mining costs, processing costs, general and administrative (G&A) costs and variable NSR factors. Mining (US$41.3), processing (US$23.92) and G&A costs (US$11.77) and Sustaining Capital (US$15.92) totaling US$92.9/t for Underground Mining.

(*) Metal price assumptions considered for the calculation of Metal Equivalent grades are: Gold (US$/oz 2,100.00), Silver (US$/oz 28.0), Copper (US$/lb 4.50), Lead (US$/lb 0.95) and Zinc (US$/lb 1.50)

(**) Cut-off grade calculations assume variable metallurgical recoveries as a function of grade and relative metal distribution. Average metallurgical recoveries are: SW/RW Zones: Gold (76.1%), Silver (90.2%), Copper (90.3%), Lead (82.9%) and Zinc (89.2%), AG Zone: Gold (66.0%), Silver (91.0%), Copper (54.8%), Lead (83.4%) and Zinc (94.8%) .

(3) NSR Calculations for SW/RW Domains: NSR= $77.25 x %Cu + $20.32 x %Zn + $9.64 x %Pb + $0.64 x g/t Ag + $43.07 x g/t Au

(4) NSR Calculation for AG Domain: NSR=$49.04 x %Cu + $22.25 x %Zn + $10.14 x %Pb + $0.70 x g/t Ag + $37.77 x g/t Au

(5) The resources are considered to have potential for extraction using underground methodology and constrained by mineable shapes. Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction.

(6) Barite as reported is shown for economic potential but has not been used in the NSR value at this stage.

(7) ZnEq defined by equation SW & RW = NSR value per block / $20.32; AG = NSR value per block / $22.25 (Note Barite has been excluded from the ZnEq and NSR calculations)

(8) CuEq defined by equation SW & RW = NSR value per block / $77.25; AG = NSR value per block / $49.04 (Note Barite has been excluded from the CuEq and NSR calculations)

(9) Mineral Resources are based on validated data, which have been subjected to QA/QC analysis, using capped, composited samples at 2m. Estimation has been completed using a combination of Ordinary Kriging and Inverse Distance estimation methodologies and classified based on confidence in the underlying data and drill spacing. Mineral resource tonnages have been rounded to reflect the precision of the estimate.

(10) The mineral resources were estimated by Benjamin Parsons, BSc , MSc Geology, MAusIMM (CP) #222568 of SRK, a Qualified Person.