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The Republic Project is an exploration project and historic mine located in Washington, USA, operated by Hecla Mining Company. The company considers the project an emerging opportunity. The property covers 3,583 acres and includes major historic productive trends such as Knob Hill, Surprise, and Golden Promise. Hecla's exploration strategy involves integrating historical datasets with 3D modelling and modern exploration tools. Recent exploration has confirmed multiple high-grade gold intercepts, indicating potential for both underground and bulk-tonnage discoveries. The project was allocated 1% of Hecla's exploration budget. Hecla's total exploration budget for 2025 was over $22 million. The last reported production from the district by Hecla was in 1995.

The Monte Cristo project is part of Hecla Mining's Nevada exploration portfolio, situated in the Walker Lane trend. It features a six-mile mineralised trend with multiple targets. Rock chip sampling has shown results of up to 0.46 oz/ton gold and 2.5 oz/ton silver in untested areas. Hecla is engaged in ongoing detailed mapping, geochemistry, and cross-section generation to advance targets to a drill-ready status. Hecla Mining acquired the Monte Cristo property from Crown Gold Corporation in May 2012.

The Kinskuch property is considered underexplored but prospective for silver, gold, and copper mineralisation. It is now part of Dolly Varden's broader exploration strategy for the Kitsault Valley Project.

The Connaught property is an exploration-stage project located in the Dawson Mining District of western Yukon, approximately 65 kilometres west of Dawson City. It is not in development as previously stated. The project is situated within the Sixtymile-Pika fault system, which is known to host porphyry, skarn, and epithermal mineralisation. The property shows potential for copper-molybdenum-gold porphyry deposits and also contains 26 identified silver-lead-zinc-gold-copper epithermal veins. Historical exploration has been conducted on the property, including geological mapping, geochemical sampling, trenching, and limited diamond drilling. There is no current production, but historical records show small-scale shipments of hand-sorted ore.

Production overview - 1976: gold 0.0002407 t, silver 0.5363 t, lead 144.42 t; 1966: gold 0.00004767 t, silver 0.05214 t, lead 15.2771 t.

approximately 512 people

Production overview - 2024: gold 55275 oz, silver 8.5 Moz; 2023: gold 60900 oz, silver 9.7 Moz, lead 19600 t, zinc 51500 t.

Conventional flotation and gravity concentrator processing gold-silver ore. Mill capacity upgraded to 2,500 tons per day.

Modern mechanised trackless equipment for production and development, with ore and waste hauled to the surface by trucks. Fleet includes at least one LHD capable of semi-autonomous operation and another capable of tele-remote operation.

Production extended to at least 2043 with additional waste disposal capacity. Five-year surface exploration project approved for 2025. Evaluating pyrite concentrate circuit and tailings reprocessing project.

approximately 7,500 people during peak construction and 4,000 long-term jobs

The Reko Diq Project is a copper-gold open pit mine under development in Balochistan, Pakistan. It is a joint venture operated by Barrick Gold Corporation. The project involves a two-phase processing plant with an initial capacity of 45 Mtpa, doubling to 90 Mtpa in Phase 2. Development has been slowed due to security risks and is under review until mid-2027.

First production targeted for 2028 (under review). Phase 1 projected to produce approximately 200,000 to 260,000 tonnes of copper and 250,000 to 300,000 ounces of gold annually. Phase 2 expected to increase annual production to 400,000 tonnes of copper and 500,000 ounces of gold. Total life of mine production expected to be 13.1 million tonnes of copper and 17.9 million ounces of gold.

Truck-and-shovel open pit mine with processing facilities to produce a high-quality copper-gold concentrate. The processing plant will be constructed in two phases: Phase 1 (45 million tonnes per annum processing capacity), Phase 2 (90 million tonnes per annum processing capacity).

Metso, Weir, Komatsu processing and mining equipment

Reconstitution completed December 2022. Updated Feasibility Study approved early 2025. Environmental and Social Impact Assessment (ESIA) approved. Estimated capital cost for Phase 1 is between US$5.6 billion and US$6.0 billion, and for Phase 2 is between US$3.3 billion and US$3.6 billion. Fluor Corporation selected as Engineering, Procurement and Construction Management (EPCM) partner. In early 2026, Barrick announced a review of all project aspects, including security, timetable, and capital budget, due to increased security incidents in the region. This review will continue until mid-2027 and development has been slowed.

The total average number of employees was 2,731 in 2022 and 2,988 in 2024. As of March 2022, approximately 92% of the full-time workforce were Congolese nationals.

Production overview - 2025: gold 673000 oz; 2024: gold 686000 oz.

metallurgical plant with a twin-circuit for sulphide and oxide ore, which uses conventional carbon-in-leach (CIL), gravity recovery, and a flotation and ultra-fine grind circuit. The plant has a processing capacity of 7.2 million tonnes per year.

three hydropower stations, a 16MW solar plant with a Battery Energy Storage System (BESS), 740m deep haulage shaft, materials handling system

Ongoing exploration of the ARK-KCD corridor continues to show potential for significant additional orebodies, which could extend the mine life. The Kalimva, Ikamva, and Ndala satellite pits are being mined under contracts with local businesses. Operational improvements are underway in the underground mine to increase productivity.

The San Juan Silver project is a high-impact development project located in the Creede Mining District of Colorado, a prolific silver-producing region. The project is focused on the historic Bulldog mine, which produced 25 million ounces of silver between 1969 and 1985. As of the end of 2025, the Bulldog Mine has an inferred resource of 38 million ounces of silver, 49,400 tons of lead, and 39,850 tons of zinc. The company is strategically advancing towards accessing the underground infrastructure to confirm and expand upon these resources. The entire Creede Mining District, covering 21 square miles, is under single ownership for the first time, with a historic production of over 84 million ounces of silver.

As of the end of 2025, the Bulldog Mine has an inferred resource of 38 million ounces of silver, 49,400 tons of lead, and 39,850 tons of zinc. For the year ended 31 December 2025, the inferred resource was 36,760,000 ounces of silver, 49,270 tons of lead, 40,310 tons of zinc, and 26,000 ounces of gold. For the year ended 31 December 2024, the inferred resource was 37,026,000 ounces of silver, 47,430 tons of lead, 38,020 tons of zinc, and 27,000 ounces of gold.

The Republic project is an exploration-stage asset owned by Hecla Mining Company in Washington, United States. The company describes it as an "emerging opportunity" and it accounted for 1% of Hecla's exploration budget. The project's land package covers 3,583 acres, which includes all major historically productive trends in the Republic mining district such as Knob Hill, Surprise, Lone Pine-Last Chance, Tom Thumb, and Golden Promise. The Republic district is noted as Washington's largest historical gold producer. Hecla is undertaking a modern exploration approach at the site, which involves integrating historical datasets with 3D modelling and contemporary exploration techniques. The company has reported that recent exploration has confirmed multiple high-grade gold intercepts, which indicate potential for both underground and bulk-tonnage discoveries. A key geological feature of the project is the significant prospective terrain that is concealed by post-mineral cover, which expands the exploration search area. Historically, the area hosted the Knob Hill mine, which Hecla acquired in 1981. Operations were extended by the discovery of the Golden Promise orebody, with the last reported production occurring in 1995. Following the cessation of mining, the mill was dismantled in 1996. The Washington State Department of Ecology lists the former "Hecla Knob Hill Mine" as awaiting cleanup, with Hecla continuing long-term mine water management and treatment activities at the site.

The Kinskuch property is an exploration project and is now part of the larger, district-scale Kitsault Valley Project. The property is covered by a five-year Exploration Permit on both Nisga'a and Gitanyow Traditional Lands. It is located in the Golden Triangle of northwestern British Columbia, adjacent to Dolly Varden's existing Kitsault Valley Project. The acquisition increased Dolly Varden's total tenure in the area to approximately 77,000 hectares.

Following the acquisition in May 2025, Dolly Varden Silver announced a fully funded exploration program for the broader Kitsault Valley Project, which includes the Kinskuch property. The 2025 program includes a minimum of 35,000 metres of diamond drilling. The exploration strategy aims to apply the geological models developed at the Kitsault Valley Trend to the newly acquired Illiance Trend on the Kinskuch property. The consolidation of the Kinskuch property is expected to allow for more efficient exploration of the region. Dolly Varden's exploration efforts for the 2025 season are focused on expanding high-grade mineralization at the nearby Wolf and Homestake Silver deposits, as well as testing other promising targets within the consolidated project area. A new mineral resource estimate for the entire Kitsault Valley Project is anticipated in May 2026.

The Connaught project is an exploration-stage property. Hecla Mining Company's official company presentations and website identify the primary commodity of interest as copper. News reports from the time of the acquisition by Hecla also describe the project as a high-grade silver-lead-zinc-copper-gold vein prospect. The property consists of a large land package of over 1,830 square kilometres, which also includes the Rackla project. As of the acquisition in July 2023, Hecla stated it was not obligated to make significant expenditures over the next decade to maintain control of the land package, allowing for flexibility in the pace of exploration spending.

Approximately 512 people as of 2024.

Production overview - 2025: silver 8.7 Moz, gold 59349 oz, lead 18.2 kt, zinc 51.3 kt; 2024: silver 8.5 Moz, gold 55275 oz.

The ore processing facility utilises a SAG/ball mill grinding circuit, followed by differential flotation to produce three concentrates: a silver concentrate, a zinc concentrate, and a zinc-rich precious metals concentrate. A gravity circuit is also used to recover free gold. The mine processes approximately 2,300 tons of ore per day. In 2024, 46% of tailings were reused as backfill.

Major underground equipment includes Sandvik LH514 LHDs, capable of semi-autonomous and tele-remote operation.

Hecla is evaluating the feasibility of a pyrite concentrate circuit at the Greens Creek mill to potentially boost silver and gold recoveries. The company is also advancing a tailings reprocessing project, with metallurgical studies underway. An early cost estimate for the tailings facility expansion was in the tens of millions of dollars. Capital investment for the Greens Creek operation was $47.8 million in 2024, which was a 10% increase over the prior year, primarily due to increased mine development and mobile equipment purchases.

Expected to employ over 7,500 people during peak construction and around 3,500 direct long-term jobs once in production.

The Reko Diq Project is owned by the Reko Diq Mining Company (Private) Limited (RDMC), which is indirectly 50% owned by Barrick Gold Corporation. The remaining ownership is held by Pakistani state-owned enterprises (25%) and the Government of Balochistan (25%). As of April 2026, Barrick announced a slowdown in development activity due to escalating security risks, extending a comprehensive project review until mid-2027. This review will assess security, capital requirements, financing, scope, and timeline, with anticipated increases to the capital budget and timeline. Despite the slowdown, Phase 1 development was approved, and an updated feasibility study and Environmental and Social Impact Assessment (ESIA) have been approved.

Production overview - 2024: gold 13000000 oz, copper 7300000 t.

Processing facilities will produce a high-quality copper-gold concentrate.

Conventional truck-and-shovel operation. Processing facilities. Key suppliers include Fluor Corporation (EPCM partner), Metso, Weir, and Komatsu.

Construction in two phases. Phase 1 development approved. Potential expansion could increase copper production to 400kt per year.

New Porgera Limited (NPL) expects to employ approximately 3,200 people by the end of 2024. As of early 2024, over 2,000 people were employed, with 98 percent being Papua New Guineans.

Production overview - 2025: gold 376057 oz; 2024: gold 188082 oz.

The processing method at Porgera involves crushing and grinding the ore, followed by gravity recovery of free gold using Knelson concentrators. A flotation process is used to create a sulphide concentrate, which then undergoes pressure oxidation in autoclaves. The final stage of gold recovery is through a conventional carbon-in-pulp (CIP) cyanide leaching circuit, which produces gold doré bars. An Acacia Reactor is also used to treat the gravity concentrate.

In the first quarter of 2025, an order was placed for seven new Sandvik surface drill rigs to replace an aging fleet, with deliveries expected from June to November 2025. The order includes four Sandvik DR410i rotary blasthole drill rigs and three Leopard DI650i down-the-hole drill rigs. Two of the Leopard DI650i drills are equipped with reverse circulation sampling capabilities for ore body identification and grade control. All seven new surface drills will be connected to Sandvik's Remote Monitoring Service. This follows a partnership to supply new Sandvik trucks, loaders, and drills for the underground operations, with deliveries that began in 2024 and are expected to continue through 2028. Historically, the open pit mine utilised a fleet of Caterpillar 777 and 789 trucks, loaded by O&K shovels and other excavators and loaders. The underground mine employed a trackless fleet including Elphinstone LHDs and trucks.

After being on care and maintenance since April 2020, the Porgera mine reopened on 22 December 2023 under the new operator, New Porgera Limited (NPL). The mine is ramping up to full production, which was expected to be reached before the end of the third quarter of 2024. A Community Development Agreement (CDA) is being finalised to manage the distribution of benefits to local stakeholders. The long-term plan is to return Porgera to Tier 1 status, with a forecast production of over 600,000 ounces in 2027 and beyond. The economic benefits from the mine are to be shared 53% by PNG stakeholders and 47% by Barrick Niugini Limited over the life of the mine.

approximately 7,000 people

Nevada Gold Mines is the largest gold mining complex in the world, comprising multiple mines and processing facilities including Cortez, Goldstrike, Turquoise Ridge, Goldrush, Carlin, Twin Creeks, and Phoenix mines. The Long Canyon mine transitioned to care and maintenance at the end of 2023.

Production overview - 2021: gold 1003580 oz, silver 1444326 oz, copper 36736179 lbs.

The complex features various processing facilities such as roasters, autoclaves, oxide mills, and heap leach pads. Examples include the Gold Quarry Roaster, Goldstrike Autoclave, and Goldstrike Roaster at Carlin, and an oxide mill and heap leach areas at Cortez. Refractory ore from Cortez is shipped to Goldstrike for processing.

A new development is the Goldrush underground mine, which is expected to reach commercial production by 2026 and grow to an annual output of approximately 400,000 ounces by 2028. The company is also focused on advancing key growth projects, including the ramp-up of the Goldrush mine.

The San Juan Silver project is a high-impact development project located in the historic Creede Mining District, a prolific silver-producing area in Colorado. Hecla Mining Company holds a 100% interest in the project. The project is currently in the development stage, with a focus on accessing underground infrastructure for resource confirmation and expansion. The San Juan Silver project encompasses the historic Bulldog mine, which produced over 20 million ounces of silver between 1969 and 1985. Hecla's current activities are focused on pre-development, including the rehabilitation of access ramps and underground drilling to test targets at the Equity and West Amethyst veins. A conceptual study has been completed for a 500-ton-per-day operation.

Production overview - 2025: silver 1143.2 t, gold 0.8 t, lead 49270 t, zinc 40310 t.

The Republic Project is an exploration-stage opportunity for Hecla Mining Company in a historically significant gold-producing district in Washington state. Hecla has a strategic landholding of 3,583 acres that covers all major productive trends, including the past-producing Knob Hill, Golden Promise, and other mines. The project is classified as an "emerging opportunity" within Hecla's exploration portfolio, with 1% of the 2025 exploration budget allocated to it. Hecla is employing modern exploration techniques, including 3D modelling, to assess the potential for new discoveries, and recent exploration has yielded multiple high-grade gold intercepts.

The Monte Cristo project is an exploration-stage asset located in Esmeralda County, Nevada. It is situated on the Walker Lane Trend and features a six-mile mineralized trend with multiple targets. Hecla Mining Company is engaged in ongoing detailed mapping, geochemistry, and cross-section generation to advance targets to a drill-ready status. Surface rock chip sampling has shown results of up to 0.46 oz/ton gold and 2.5 oz/ton silver in untested areas.

approximately 512 people

Production overview - 2025: silver 8.7 Moz, gold 59349 oz, lead 18.2 kt, zinc 51.3 kt; 2024: silver 8.5 Moz, gold 55275 oz, zinc 51.5 kt, lead 18.424 kt.

The mine uses a conventional flotation concentrator to process the ore. The ore is ground and then subjected to flotation to produce a gravity gold concentrate, a silver concentrate, a zinc concentrate, and a precious metals concentrate. The mine processes approximately 2,300 tons of ore per day. In 2024, 46% of the tailings were reused as backfill in the underground mine.

The mine uses underground mining methods, specifically cut and fill and longhole stoping.

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 operations. A project to add a pyrite concentrate circuit is expected to enhance silver and gold recoveries.

In 2024, the total average number of employees was 2,988, consisting of 950 permanent staff and 2,038 contractors. As of March 2022, approximately 92% of the full-time workforce were Congolese nationals.

Production overview - 2025: gold 673000 oz; 2024: gold 687000 oz.

The mine has a twin-circuit sulphide and oxide plant with a combined capacity of 7.2 million tonnes per annum (Mtpa). The process includes conventional carbon-in-leach (CIL) and gravity recovery.

Open pit equipment includes SY500/350 excavators, Caterpillar D8R bulldozers, Sinotruck water bowers, XCMG GR300 graders, and Pantera DP1500 I and Komatsu blast drill rigs.

Exploration in the ARK-KCD corridor continues to show potential to significantly grow the mine's reserve base and extend its life. A 16MW solar plant with an integrated Battery Energy Storage System (BESS) has been commissioned, increasing the mine's renewable energy use to 85%, allowing it to operate on 100% renewable energy for six months of the year.

7500 (peak construction), 4000 (long-term)

The Reko Diq project is an open pit copper-gold operation in Balochistan Province, Pakistan, currently under development. It is planned as a truck-and-shovel operation with processing facilities to produce a high-quality copper-gold concentrate. Construction and processing will occur in two phases, with a combined plant capacity of 90 million tonnes per annum.

Production overview - 2024: copper 7.3 Mt, gold 13 Moz.

The project is planned as a truck-and-shovel open pit operation with processing facilities to produce a high-quality copper-gold concentrate. Construction and processing will occur in two phases, with a combined plant capacity of 90 million tonnes per annum.

The primary mining fleet will include electric rope and diesel hydraulic shovels with 360-tonne class haul trucks, supported by front-end wheel loaders.

The reconstitution of the Reko Diq project was completed in December 2022. An updated feasibility study was completed in 2024, and a technical report was filed in February 2025. However, in April 2026, Barrick announced it was slowing down development activity and extending a project review until mid-2027 due to escalating security risks in the region. This is expected to lead to significant increases in the previously estimated capital budget and timeline. The initial capital cost for Phase 1 was estimated at $5.6 billion to $6.0 billion, with Phase 2 estimated at $3.3 billion to $3.6 billion. First production was previously targeted for 2028, but this is now under review.

A specific workforce size for the project is not publicly available, but Barrick is actively recruiting for roles including geologists and project engineers.

The Fourmile project in Nevada, United States, is a 100 per cent Barrick Gold Corporation-owned, underground gold project currently under development. It is considered one of the most significant high-grade gold discoveries of the century. The project is located adjacent to the Goldrush deposit, which is part of the Nevada Gold Mines (NGM) joint venture. While wholly owned by Barrick, it is anticipated that the Fourmile project will be contributed to the NGM joint venture at fair market value if specific criteria are met. Teck Resources holds a 10 per cent net profits interest, rising to 15 per cent after six million ounces of gold are produced, and Royal Gold has acquired gross smelter return royalty interests.

A preliminary economic assessment projects potential annual production of between 600,000 and 750,000 ounces of gold over a mine life of more than 25 years. Initial test stoping and production ramp-up are anticipated around 2029-2030.

The project's metallurgy is a key advantage, with a significant portion of the mineralisation being single refractory, allowing for simpler, more flexible, and lower-cost processing. The development plan will leverage existing infrastructure of the nearby Carlin-Cortez complexes, meaning no new processing plants are required. Ore will be processed using existing roasters and autoclaves at these NGM facilities, where it is expected to displace lower-grade stockpiled material.

The equipment fleet for the project includes an expanding number of drilling rigs, with plans to increase from 16 to more than 20.

A pre-feasibility study commenced in 2025 and is targeted for completion in late 2028, followed by a feasibility study in 2029. Permitting for the Bullion Hill exploration decline is in progress, with construction of the portal and the start of underground development expected in 2026. This will provide underground access to drill deeper parts of the orebody from 2027. Barrick plans to have approximately 34 kilometres of underground development completed by 2029 to connect Bullion Hill with the Goldrush infrastructure. Initial test stoping and production ramp-up are anticipated around 2029-2030.