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The Connaught property is situated in the Dawson Mining District in west-central Yukon, approximately 65 kilometres west of Dawson City. It is located immediately south of the Sixty Mile placer gold camp. The property consists of a 137.3 square kilometre land package. It is road-accessible and lies within the 150-kilometre-long Sixtymile-Pika fault system, which is known to host porphyry, skarn, and epithermal mineralization. The property hosts 26 identified silver-lead-zinc-gold-copper epithermal veins. Hecla Mining Company's website lists Connaught as a copper (Cu) exploration project.

Production overview - 1966: gold 22.7 t, silver 22.7 t, lead 22.7 t.

Hecla Mining Company acquired the Connaught property as part of a larger land package from ATAC Resources. The acquisition was part of Hecla's strategy to acquire large land packages with significant exploration potential in favourable mining jurisdictions. In February 2026, Hecla announced it would nearly double its exploration and pre-development budget, with a focus on its assets including those in the Yukon. However, no specific exploration plans or results for the Connaught property have been released since its acquisition.

512 (2024)

The Greens Creek mine is one of the largest and lowest-cost primary silver mines in the world and the largest silver producer in the United States. It operates 24 hours a day, 365 days a year, within the Admiralty Island National Monument. A February 2026 news release detailing exploration results reported a high-grade intercept from the East Zone of 247.3 oz/t silver, 1.94 oz/t gold, 22.7% zinc, and 12.1% lead over 7.7 feet. In 2024, copper became a payable metal for the mine, creating a new revenue stream.

Production overview - 2023: silver 9700000 oz, gold 60900 oz, zinc 51500 t, lead 19600 t; 2022: silver 9740000 oz, gold 48216 oz, zinc 52312 t, lead 19480 t.

The mine has an ore concentrating mill and processes approximately 2,388 tonnes of ore per day. Metallurgical recoveries for 2025 were 79.3% for silver, 74% for gold, 82.6% for lead, and 88.8% for zinc. The company uses AI-driven geological modelling and prospecting to identify new veins at the site. A tailings reprocessing initiative is also underway. In 2024, Greens Creek reused 46% of its tailings as backfill.

In January 2026, the U.S. Forest Service issued a Decision Notice authorising a five-year surface exploration project to search for new mineral deposits. An ongoing expansion of the mine's tailings facility is expected to increase storage capacity to 2045. A draft supplemental environmental impact statement for the tailings expansion was released for public comment in early 2026. Hecla plans to significantly increase its exploration and pre-development investment to $55 million in 2026, with a focus on Greens Creek and other core assets.

The Republic project, operated by Hecla Mining Company, is located in Ferry County, Washington, in the United States. Historically, it was an operating underground gold and silver mine known as the Republic Unit, which included the Golden Promise and Knob Hill mines. The mine ceased operations in early 1995 and is now an active exploration project for Hecla.

Production overview - 1995: gold 3098 oz, silver 15320 oz; 1993: gold 49601 oz, silver 276688 oz.

mill

mill

Hecla Mining Company continues to hold a land position of approximately five square miles in the Republic area and views it as an ongoing exploration opportunity. The company's current exploration efforts are focused on this land package.

The Connaught project is considered to have potential for copper-molybdenum-gold porphyry style mineralisation, as well as high-grade silver-lead-zinc-copper-gold veins. The project is a substantial land package with identified gold, silver, and base metal mineralisation. As a result of previous exploration investment by ATAC, Hecla is not obligated to make significant expenditures to maintain control of the land package for the next decade.

Hecla Mining acquired the Connaught project through its acquisition of ATAC Resources Ltd. in a deal that was finalised in July 2023.

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The Greens Creek mine, operated by Hecla Mining Company, is one of the world's largest primary silver mines, located on Admiralty Island in Alaska. It is the largest silver producer in the United States. The underground mine produces silver, gold, zinc, and lead from an ore body within the Admiralty Island National Monument. As of the end of 2025, proven and probable reserves at Greens Creek included 103.7 million ounces of silver and 865,000 ounces of gold.

Production overview - 2026: silver 2200000 oz, gold 13000 oz; 2025: silver 8700000 oz, gold 59349 oz, lead 18200 t, zinc 51300 t.

Ore is processed at an on-site concentrating mill. Metallurgical recoveries for 2025 were 79.3% for silver, 74% for gold, 82.6% for lead, and 88.8% for zinc. Hecla is evaluating a pyrite concentrate circuit at the mill to improve silver and gold recoveries, with an update on this project expected in late 2026 or early 2027. The company is also studying the economic potential of reprocessing tailings to recover critical minerals. The dry-stack tailings facility held an estimated 10.4 million tons of tailings at the end of 2025, containing an estimated 50 million ounces of silver and nearly 600,000 ounces of gold.

The mine utilises underground cut-and-fill and longhole stoping methods. In the first quarter of 2026, Greens Creek set a record for underground backfill placement, placing nearly 164,000 tons, which was 16% above the 2025 quarterly average.

In January 2026, the U.S. Forest Service issued a decision notice authorising a five-year plan for surface exploration operations at Greens Creek. This exploration for silver, gold, lead, and zinc is anticipated to expand the project's reserve base.

The San Juan Silver project is an exploration-stage underground mine located in Creede, Colorado, in the United States. It is 100% owned and operated by Hecla Mining Company. The project is situated in the historic Creede Mining District, a prolific silver-producing area, and includes the Bulldog Mine, which historically produced 25 million ounces of silver between 1969 and 1985. Hecla is strategically advancing the project to access underground infrastructure for resource confirmation and expansion. The entire Creede Mining District, covering 21 square miles, is under single ownership for the first time.

Production overview - 2024: silver 37026000 oz, gold 27000 oz, lead 43028.142 t, zinc 34491.148 t; 2023: silver 38203000 oz, gold 34000 oz, lead 44815.732 t, zinc 36151.49 t.

Hecla is advancing the project to access underground infrastructure for the purpose of resource confirmation and expansion. The company's exploration efforts include confirming district-scale potential after a 2013 surface drilling program intersected high-grade mineralisation.

The Republic Project, located in Ferry County, Washington, is an exploration-stage gold and silver project held by Hecla Mining Company. The project is situated in the historical Republic Mining District and was Washington's largest historical gold producer. Currently, the site is not in production and is considered an emerging opportunity by Hecla, which has allocated 1% of its exploration budget to the project. The company's focus at the Republic Project is on integrating historical datasets with modern 3D modelling and contemporary exploration tools to assess the significant prospective terrain. Hecla's land position covers 3,583 acres, encompassing major historical productive trends.

The Kinskuch property is located in the Golden Triangle of British Columbia and is now part of Dolly Varden Silver's expanded Kitsault Valley Project. The acquisition increased the Kitsault Valley Project's size to approximately 77,000 hectares, consolidating a district-scale, contiguous claim package. The property is considered underexplored but prospective for silver, gold, and copper mineralisation. It is situated on the same favourable Jurassic-age Hazelton-group volcanic rocks that host other significant deposits in the region. The Kinskuch property includes the past-producing Esperanza Mine, which was active around 1910. The property is covered by a five-year Exploration Permit on both Nisga'a and Gitanyow Traditional Lands. Following the acquisition, Dolly Varden's 2025 exploration program for the broader Kitsault Valley Project was expanded from a planned 35,000 metres to 55,000 metres, and was completed in October 2025 with a total of 56,131 metres drilled in 84 holes. This program aimed to expand resources at other deposits within the Kitsault Valley Project, such as Wolf and Homestake Silver, and test new exploration targets. In December 2025, Dolly Varden announced a merger-of-equals with Contango ORE, Inc.

Approximately 512 people as of 2024.

The Greens Creek mine is one of the largest and lowest-cost primary silver mines in the world. It is located on Admiralty Island, about 18 miles southwest of Juneau, Alaska, within the Admiralty Island National Monument. Access to the mine is by sea. The property includes 17 patented lode claims and one patented mill site claim.

Production overview - 2025: silver 8.7 Moz, gold 59349 oz, lead 18200 t, zinc 51300 t; 2024: silver 8.5 Moz, gold 55275 oz.

The mine is an underground operation using cut-and-fill and longhole stoping mining methods. It processes approximately 2,388 tons of ore per day using flotation and gravity processes to recover silver, gold, lead, and zinc. In 2025, metallurgical recoveries were 79.3% for silver, 74% for gold, 82.6% for lead, and 88.8% for zinc. In 2024, 46% of tailings were reused as backfill.

The mine has an on-site ore concentrating mill, a dry stacked tailings facility, a ship-loading facility, and camp facilities.

In January 2026, the U.S. Forest Service approved a five-year plan of operations for the Greens Creek Surface Exploration Project. This project aims to test existing mineralised targets and identify new ones not accessible from underground, with the goal of increasing the project's reserve base and extending the mine life. Work is also underway on the expansion of the tailings facility, which is expected to increase capacity to 2045.

The Guigui project is an early-stage exploration property in the Santa Eulalia Mining District, Chihuahua, Mexico, covering approximately 4,750 hectares. It is currently at the 'Target Definition' stage, with previous exploration indicating potential for silver, gold, lead, and zinc mineralisation in carbonate replacement deposit and skarn style systems. Torex Gold acquired the project in August 2025 and plans expanded exploration activities in 2026 with a US$4 million budget.

Exploration efforts at the Guigui property were scheduled to expand in 2026.

The Batopilas project is considered to be at the intermediate drill testing stage. Exploration and drilling by previous operators have identified a number of silver and gold veins across several zones. The property covers approximately 3,550 hectares.

Torex Gold Resources Inc. acquired the Batopilas project as part of its acquisition of Reyna Silver, which was completed in August 2025.

The Medicine Springs Project is located in the Ruby Mountains Valley in northeastern Nevada. The mineralisation is described as being hosted within various systems, including carbonate replacement deposits, porphyry, and skarn. Historical exploration has identified silver-lead-zinc mineralisation, and more recent work has continued to target these commodities with additional potential for copper and gold.

The Gryphon project is an early-stage exploration property located at the southern end of the Carlin Trend in Nevada, USA. Torex Gold Resources Inc. acquired the project through its acquisition of Reyna Silver, which was completed in August 2025. The project is at the target definition stage. The property covers more than 12,000 hectares and is situated in the Diablo Range, between the Carlin and Eureka-Battle Trends in north-central Nevada. Exploration by previous operators has identified the potential for silver, lead, and zinc mineralisation within a carbonate replacement deposit system, as well as the potential for epithermal gold mineralisation. Historic exploration has also indicated the presence of copper and nickel.

The Los Reyes Project is a development-stage project. A preliminary economic assessment (PEA) is underway and is expected to be completed by mid-2026. This assessment will evaluate various development scenarios, including both open pit and underground operations, to maximise margins and mine life.

The planned processing methods for the Los Reyes Project include both milling and heap leaching, depending on the ore characteristics. Metallurgical test work has been conducted to determine the expected recoveries for each processing method. For milled ore, gold and silver recoveries are estimated to be 95.6% and 81%, respectively. For heap leached ore, gold and silver recoveries are estimated to be 73% and 25%, respectively.

Media Luna North is designed for a mining capacity of up to 2,300 tonnes per day. Ore from Media Luna North will be processed at the recently upgraded processing plant, which has a nameplate capacity of 10,600 tonnes per day. The plant has added copper and iron-sulphide flotation circuits to handle higher copper levels from the Media Luna deposits. The primary products will be a precious metal rich copper concentrate and gold/silver doré.

First production is expected by late 2026. Media Luna North is designed for a mining capacity of up to 2,300 tonnes per day.

Ore from Media Luna North will be processed at the recently upgraded processing plant, which has a nameplate capacity of 10,600 tonnes per day. The plant has added copper and iron-sulphide flotation circuits to handle higher copper levels from the Media Luna deposits. The primary products will be a precious metal rich copper concentrate and gold/silver doré.

Media Luna North was formerly known as EPO. It is part of the Morelos Complex. The development of the main access ramp continued to track well in Q4 2025, with 1,135 metres completed.

more than 360 employees

The Media Luna mine, part of Torex Gold's Morelos Complex in Guerrero, Mexico, is an underground operation primarily extracting gold, copper, and silver. Commercial production began on May 1, 2025, with a target of 7,500 tonnes per day by mid-2026. Mine life is expected through at least 2033.

Production overview - 2024: gold 1946000 oz, silver 19788000 oz, copper 467000000 lbs.

Ore is processed at the upgraded ELG processing plant, which includes flotation circuits to produce copper concentrate. A paste backfill plant was commissioned in Q3 2025.

6.5 km underground conveyor system, battery-electric vehicle fleet, paste backfill plant

An inaugural Inferred Resource was declared at the nearby Media Luna West target in March 2026. Development of the EPO deposit, now known as Media Luna North, is also underway, with first production anticipated in late 2026.

1,108 direct employees and 2,303 contractors in 2022

Production overview - 2025: gold 594 koz; 2021: gold 494000 oz.

centralised processing plant using carbon-in-pulp milling technology with cyanide leach to produce gold doré; processes approximately 13,000 tonnes per day

Part of the larger Morelos Complex, connected to the new Media Luna project by a seven-kilometre tunnel.

year = 2024: 99% of employees from Mexico, with 67% from Guerrero State. year = 2022: 1,108 direct employees and 2,303 contractors.

The Morelos Complex is an operating underground gold-silver-copper mine in Guerrero, Mexico, owned by Torex Gold Resources Inc. It includes the Media Luna Project, a significant expansion featuring a hybrid fleet with battery-electric vehicles. The processing plant has a capacity of 10,600 tonnes per day, producing precious metal-rich copper concentrate and gold/silver doré.

Production overview - 2025: gold 319149 oz, silver 1400000 oz, copper 36000000 lbs; 2023: gold 453778 oz.

Ore from the Morelos Complex is processed through a centralised, upgraded facility. The plant has a nameplate capacity of 10,600 tonnes per day. Recent upgrades included the addition of copper and iron-sulphide flotation circuits to handle ore from the Media Luna and Media Luna North deposits, which have higher copper levels. The primary products are a precious metal-rich copper concentrate and gold/silver doré. Ore from Media Luna is transported to the processing plant via an underground conveyor through the Guajes Tunnel.

The Media Luna project includes a hybrid fleet of 35 units from Sandvik, featuring 15 battery-electric vehicles (BEVs) for production mining and 20 conventional pieces of equipment for development. The BEV fleet includes 11 Toro™ LH518iB battery-electric loaders and four Sandvik DD422iE twin-boom battery-electric jumbos. The conventional equipment includes loaders, trucks, bolters, production drills, and a raiseborer. Torex deploys the largest battery-electric mining fleet in Latin America.

The Media Luna Project is a significant expansion of the Morelos Complex. First copper concentrate production from Media Luna was expected in the first quarter of 2025, with commercial production to follow shortly after. The development of Media Luna North is underway with first production expected by late 2026. The integration of the EPO deposit into the mine plan is also part of the expansion.

The Silver Valley / Star project, operated by Hecla Mining Company, is located in the Silver Valley of northern Idaho, United States, near Wallace and Burke in Shoshone County. The project is currently in an exploration phase.

The Republic project, operated by Hecla Mining Company, is an exploration-stage asset located in the historically significant Republic mining district of Ferry County, Washington. The project is part of Hecla's portfolio of exploration properties and is focused on assessing the potential for new discoveries in a region known for its past gold production.

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Production overview - 2025: silver 8700000 oz, gold 59349 oz, lead 18200 t, zinc 51300 t; 2024: silver 8500000 oz, gold 55275 oz.

The mine uses underground cut-and-fill and long-hole stoping methods. It processes approximately 2,300 tons of ore per day. The facility includes an ore concentrating mill, a dry stacked tailings facility, a ship-loading facility, and camp facilities. A conventional flotation concentrator produces a gravity gold concentrate, a silver concentrate, a zinc concentrate, and a precious metals concentrate.

In January 2026, the Greens Creek Surface Exploration Project completed its federal permitting process. This five-year plan for surface exploration aims to increase the mine's reserve base and extend its operational life.

The Lake Mackay Project is a large-scale, underexplored tenement package considered prospective for a range of deposit styles, including copper-gold-silver, nickel-cobalt-manganese, and orogenic gold. Exploration activities, including drilling, are ongoing. In May 2022, IGO and Prodigy Gold restructured their agreement, resulting in Prodigy Gold holding a majority interest in the gold tenements, while IGO retains the majority share of the base metal tenements. Recent exploration has focused on several prospects, including Phreaker (copper-gold), Arcee (gold), and Goldbug (gold). Drilling at the Phreaker prospect in 2022 and 2023 returned encouraging polymetallic results.

IGO Limited withdrew from a farm-in agreement with Antipa Minerals, effective 30 April 2025, returning 100% ownership of the 1,520 square kilometre Paterson Project to Antipa. This project surrounds Antipa's flagship Minyari Dome Project. Following the withdrawal, Antipa consolidated its landholding in the Paterson Province to approximately 4,060 square kilometres, now referred to as the Minyari Project. The project is prospective for gold and copper deposits. An upcoming 2025 drilling program will focus on priority targets.

Project Rackla, operated by Hecla Mining Company, is an advanced-stage exploration project located in the Mayo Mining District of central Yukon, Canada. Hecla acquired the project on 7 July 2023, through the acquisition of ATAC Resources Ltd. The project is comprised of a large land package of over 1,700 square kilometres, which includes the Tiger and Osiris deposits.

Production overview - 2020: gold 464000 oz.

proposed processing method in the PEA included conventional crushing, grinding, and cyanidation by carbon-in-pulp (CIP) to produce gold doré