Northisle Announces Significant Increase to North Island Resource Estimate Contained Metal in Indicated Resources Increased to 10.1 billion lbs Cu Eq. or 16.2 million oz Au Eq.
August 6, 2026 TSXV: NCX OTCQX: NTCPF
Northisle Announces Significant Increase to North Island Resource Estimate Contained Metal in Indicated Resources Increased to 10.1 billion lbs Cu Eq. or 16.2 million oz Au Eq. All dollar figures are C$ unless otherwise stated
Highlights:
- Increased Indicated Resources by 330 million tonnes (+36%), adding 685 million lbs Cu (+22%) and 1.8 million oz Au (+26%) in contained metal
- 60% increase in contained Cu Eq. metal in Indicated Resources
- Exceeded resource objectives at West Goodspeed
- Addition of 113.1 million tonnes of Indicated Resources containing 873 million lbs Cu Eq. or 1.2 million oz Au Eq.
- Successful resource conversion at Northwest Expo and expansion of the resource along strike, which remains open to the northwest
- Contained Au in Indicated Resources increased 81% to 1.7 million oz
- Contained Cu in Indicated Resources increased 84% to 198 million lbs
- 30% increase in contained Cu Eq. metal in Indicated Resources at Red Dog with connection between Red Dog and West Goodspeed to be investigated with additional drilling in 2026
- Additional critical minerals exposure with contained molybdenum in Indicated Resources increasing by 46% and contained rhenium in Indicated Resources increasing by 43%
See below for further details
Vancouver, B.C. – Northisle Copper and Gold Inc. (TSX-V: NCX, OTCQX: NTCPF) (“Northisle” or the “Company”) is pleased to announce the release of an integrated mineral resource estimate for its 100% owned North Island Project (the “2026 Resource Estimate”), which integrates the Northwest Expo, Red Dog, West Goodspeed, and Hushamu deposits. The 2026 Resource Estimate will be used for the development of a pre-feasibility study (“PFS”) on the North Island Project, which remains on target for completion in Q1 2027.
Alex Davidson, Chairman, noted “This integrated resource update represents another important milestone for Northisle and is a critical step towards the completion of the North Island Project PFS. With 10.1 billion pounds of copper equivalent or 16.2 million ounces of gold equivalent contained in Indicated Resources, the 2026 Resource Estimate is finally beginning to tell the story of the district-scale potential of the North Island Project.”
Sam Lee, President & CEO, stated “Over the past 18 months, we have either achieved or exceeded each of the goals we set in respect to resource growth and conversion. At West Goodspeed, we added over 113 million tonnes of Indicated Resources with 873 million lbs Cu Eq., or 1.2 million oz Au Eq. in contained metal. At Northwest Expo, we successfully converted Inferred material, increasing Indicated tonnage by 133%, and expanded the resource along strike. Significantly, at Red Dog, we increased contained copper equivalent metal in Indicated Resources by 30% and plan to investigate the connection between Red Dog and West Goodspeed with additional drilling in 2026. We additionally increased our exposure to critical minerals beyond copper, adding 68 million lbs Mo and 362,000 lbs Re in Indicated Resources. These results, in addition to improved commodity prices, have driven meaningful resource growth and provide a solid foundation for the North Island Project PFS, which remains on target for completion in Q1 2027.”
The 2026 Resource Estimate contains an Indicated Resource of 1.2 billion tonnes grading 0.14% Cu, 0.22 g/t Au, 79.5 ppm Mo and 0.44 ppm Re for total contained metal of 10.1 billion lbs copper equivalent (“Cu Eq.”) or 16.2 million oz gold equivalent (“Au Eq.”) (recovery adjusted), plus an Inferred Resource of 260 million tonnes grading 0.12% Cu, 0.15 g/t Au, 62.0 ppm Mo, and 0.37 ppm Re for total contained metal of 1.5 billion lbs Cu Eq. or 2.6 million oz Au Eq. (recovery adjusted), at an $11.00/tonne NSR cut-o�.
Additionally, the 2026 Resource Estimate describes a shallow higher-grade portion of the Hushamu deposit (the “Hushamu Shallow Higher-Grade Core”), which is expected to be included in the first pushback to be extracted from the Hushamu deposit. In aggregate, the deposits comprising the Northwest Corridor, including Northwest Expo, Red Dog, and West Goodspeed, plus the Hushamu Shallow Higher- Grade Core, contain an Indicated Resource of 405 million tonnes grading 0.50% Cu Eq. or 0.46 g/t Au Eq. for total Indicated contained metal of 4.5 billion lbs Cu Eq. or 6.0 million oz Au Eq.
The 2026 Resource Estimate has an e�ective date of July 31, 2026, and is summarized in Table 1 below by deposit. The 2026 Resource Estimate was prepared by Sue Bird, P.Eng. of Moose Mountain Technical Services (“MMTS”) who is independent of Northisle. Metallurgical test work which is referenced in the Design Basis (as defined below) was completed under the supervision of Peter Mehrfert, P.Eng. of Ausenco Engineering Canada ULC (“Ausenco”). A technical report (the “Technical Report”) prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) will be filed on the Company’s website and SEDAR+ within 45 days of the date of this press release.
Key assumptions reflected in the 2026 Resource Estimate are detailed below for each deposit and will be further described in the Technical Report. With the release of the 2026 Resource Estimate, the Company’s previous technical reports, including the 2025 North Island Project Preliminary Economic Assessment dated February 12, 2025, are no longer current and should not be relied upon.
The $11.00/tonne NSR cut-o� was selected as having reasonable prospects of eventual economic extraction as this value covers preliminary estimated Phase 2 processing and G&A costs as detailed in the Design Basis below. The economic assumptions presented may change during the completion of the ongoing North Island Project PFS.
Table 1: 2026 Integrated North Island Project Resource Estimate ($11.00 NSR cut-o�)
Grade Contained Metal Tonnes Cu Au Mo Re Cu Eq. Au Eq. Cu Au Mo Re Cu Eq. Au Eq. NSR (000 T) (%) (g/t) (ppm) (ppm) (%) (g/t) (mm lbs) (000s oz) (mm lbs) (000 lbs) (mm lbs) (000s oz) ($/t)
Indicated
| Northwest | |
|---|---|
| 105,156 | |
| Expo |
| 0.09 | 0.50 | 89.2 | 0.35 | 0.79 | 0.58 | 198 | 1,690 | 21 | 81 | 1,823 | 1,959 | 77.46 | ||
| Red Dog | 90,463 | 0.19 | 0.22 | 32.6 | 0.20 | 0.42 | 0.41 | 379 | 627 | 7 | 40 | 845 | 1,181 | 48.51 |
| 0.16 | 0.16 | 61.2 | 0.40 | 0.35 | 0.32 | 397 | 573 | 15 | 99 | 873 | 1,166 | 35.14 | ||
| Hushamu | 927,672 | 0.14 | 0.20 | 85.2 | 0.48 | 0.32 | 0.40 | 2,818 | 5,825 | 174 | 988 | 6,604 | 11,862 | 31.51 |
| 0.14 | 0.22 | 79.5 | 0.44 | 0.37 | 0.41 | 3,793 | 8,715 | 217 | 1,209 | 10,145 | 16,168 | 36.99 |
| West | |
|---|---|
| 113,070 | |
| Goodspeed |
| Total | |
|---|---|
| 1,236,361 | |
| Indicated |
Inferred
| Northwest | |
|---|---|
| 7,395 | |
| Expo |
| 0.04 | 0.26 | 69.7 | 0.28 | 0.44 | 0.30 | 7 | 62 | 1 | 5 | 72 | 72 | 40.45 | ||
| Red Dog | 3,421 | 0.21 | 0.14 | 31.6 | 0.22 | 0.37 | 0.36 | 16 | 16 | 0 | 2 | 28 | 39 | 42.43 |
| 0.13 | 0.13 | 52.3 | 0.38 | 0.28 | 0.26 | 111 | 157 | 4 | 32 | 243 | 323 | 28.24 | ||
| Hushamu | 210,433 | 0.12 | 0.14 | 64.0 | 0.38 | 0.25 | 0.32 | 545 | 979 | 30 | 176 | 1,174 | 2,142 | 24.52 |
| 0.12 | 0.15 | 62.0 | 0.37 | 0.26 | 0.31 | 678 | 1,214 | 36 | 214 | 1,517 | 2,576 | 25.77 |
| West | |
|---|---|
| 38,991 | |
| Goodspeed |
| Total | |
|---|---|
| 260,240 | |
| Inferred |
Notes to the Resource Table:
1. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines.
2. The Mineral Resources have been confined by an open pit with "reasonable prospects of eventual economic extraction" using the 125% revenue factor case and the following assumptions:
- Metal prices of US$3,587/oz Au, US$4.82/lb Cu, US$20/lb Mo US$2,000/lb Re
- Forex of 1.32 $CDN:$US
- Payable metal of 97.5% payable Au, Payable of 96.5% for Cu, 99% payable Mo, and 50% payable Re
- Refining Costs of US$4.86/oz for Au, US$0.053/lb for Cu, US$0.95/lb for Mo, and US$0.60/lb for Re
- Smelting costs for Cu of US$53.20/dmt for Cu and US$98.80 for Mo
- Transportation and insurance costs of CDN$120/wmt proportionally distributed between Au, Cu and Mo
- Royalty of 1% NSR for Red Dog and West Goodspeed deposits
- Pit slopes are variable based on geotechnical zones and range from 31 degrees to 49 degrees, depending on sector
- Mining cost of US$3.00/t for waste and mineralized material
- Processing costs of CDN$10.30/t, general and administrative costs of CDN$0.70/t
3. Metallurgical recoveries for Au are: 91% for NW Expo, 84.5% for Red Dog, 78.2% for WGS and 59.2% for Hushamu in the CMG and 54.3% outside the CMG.
4. Metallurgical recoveries for Cu are variable at NW Expo and WGS as in Table 9. At NW Expo averaging 73.8% and averaging 79.2% at WGS. Cu recovery is 89.7% at Red Dog and 77.8% at Hushamu within the CMG and 75.4% outside the CMG.
5. Metallurgical recoveries for Mo are 45.0% at NWExpo and Red Dog and variable at WGS with an average of 43.0%, and 49.2% at Hushamu within the CMG and 44.6% outside the CMG.
6. Metallurgical recoveries for Re are 36% at NWExpo and Red Dog and variable at WGS with an average of 34.5% at WGS, and 39.3% at Hushamu within the CMG and 35.7% outside the CMG.
7. The NSR equations are:
- NW Expo within the CMG: NSR (CDN$/t)=(Au*91%*CDN$146.04g/t)+(Cu*CuRec%*CDN$5.98+Mo%*45%*CDN$24.63 + Re%*36%*CDN$1306)*2204.62
- Red Dog: NSR (CDN$/t)=(Au*84.5%*CDN$141.34g/t) + (Cu*89.7%*CDN$5.79+Mo%*45%*CDN$24.39 + Re%*36%*CDN$1293)*2204.62
- Hushamu within the CMG: NSR (CDN$/t)=((Au*59.2%*CDN$141.29g/t) + (Cu*77.8%*CDN$5.78 + Mo%*24.63*49.2% + Re%*CDN$1306*39.3%)*2204.62
- Hushamu outside the CMG: NSR (CDN$/t)=((Au*54.3%*CDN$142.20g/t) + (Cu*75.4%*CDN$5.82 + Mo%*24.63*44.6% + Re%*CDN$1306*35.7%)*2204.62
- WGS: NSR (CDN$/t)=(Au*78.2%*CDN$140.08g/t) + (Cu*CuRec%*CDN$5.74+Mo%*MoRec%*CDN$24.39 + Re%*ReRec%*CDN$1293)*2204.62
8. The Equivalent equations are: Cu Eq. = NSR/(Cu_NSP*Cu_Rec%*22.0462), Au Eq. = NSR/(Au_NSP*AuRec%)
9. The specific gravity for each deposit and domain ranges from 2.62-2.86 depending on alteration and is assumed to be 1.5 in overburden.
10. Numbers may not add due to rounding.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. Inferred mineral resources are subject to uncertainty as to their existence and as to their economic and legal feasibility. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability.
These mineral resource estimates include Inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
The Qualified Person(s) are of the opinion that issues relating to all relevant technical and economic factors likely to influence the prospects of eventual economic extraction can be resolved with further work. These factors may include environmental permitting, infrastructure, sociopolitical, marketing, or other relevant factors.
Figure 1 shows the location of the deposits within the North Island Project in the context of regional infrastructure.
Figure 1: North Island Project Showing Location of Deposits and Prospects
Coordinates are reported in UTM Zone 9 North (NAD83 CRS, VD CVG28BC) with units in metres.
Exploration and Development Milestones
The Company continues to advance the North Island Project, with multiple near-term development and exploration catalysts including:
- COMPLETED – C$115 million financing to advance the North Island Project
- COMPLETED – Drilling results at Northwest Expo, extending strike and defining higher-grade zones
- COMPLETED – Commence extension drilling in Northwest Corridor
- COMPLETED – Initiate early engagement on mine waste storage area (ahead of schedule)
- COMPLETED – Drilling results at Red Dog, confirming additional higher-grade mineralization extending below the previous resource envelope
- COMPLETED – Integrated resource update for the North Island Project
- Q3 2026 – Initiate drilling at regional exploration targets
- H2 2026 – Initial Project Description filed
- H2 2026 – Commence BC Hydro System Impact Study
- H2 2026 – Results from ongoing drilling (Northwest Corridor and regional exploration)
- Q1 2027 – North Island Project PFS results announced
- Ongoing – Metallurgical test work (results to be included in North Island Project PFS)
- Ongoing – Continued positive engagement with indigenous rightsholders and local stakeholders
Details of Northwest Expo Resource Estimate
The Northwest Expo Resource Estimate includes a total of 61 diamond drill holes totalling 24,966 metres drilled by Northisle and previous operators through the end of 2025, of which 31 holes totalling 10,629 metres were completed under the direction of Northisle between 2024 and 2025.
Table 2 below summarizes the Northwest Expo Resource Estimate and shows the sensitivity of the
Table 2: 2026 Northwest Expo Resource Estimate
| In Situ Grade | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| NSR Cutoff ($/T) | Resource Class | Tonnes (000 T) | NSR ($/t) | Cu (%) | Au (g/t) | Mo (ppm) | Re (ppm) | Cu Eq. (%) | Au Eq. (g/t) |
| $10.00 | Indicated Inferred | 106,083 7,525 | 76.87 39.93 | 0.08 0.04 | 0.50 0.26 | 89.03 69.07 | 0.35 0.28 | 0.78 0.44 | 0.58 0.30 |
| Indicated | 105,156 | 77.46 | 0.09 | 0.50 | 89.20 | 0.35 | 0.79 | 0.58 | |
| $11.00 | Inferred | 7,395 | 40.45 | 0.04 | 0.26 | 69.65 | 0.28 | 0.44 | 0.30 |
| $15.00 | Indicated Inferred | 99,721 6,818 | 80.96 42.78 | 0.09 0.04 | 0.52 0.28 | 88.82 71.17 | 0.35 0.29 | 0.82 0.47 | 0.61 0.32 |
| $20.00 | Indicated Inferred | 90,586 5,738 | 87.36 47.45 | 0.10 0.05 | 0.57 0.31 | 84.88 70.80 | 0.33 0.28 | 0.88 0.51 | 0.65 0.36 |
| Contained Metal | ||||||
|---|---|---|---|---|---|---|
| Cu (mm lbs) | Au (000s oz) | Mo (mm lbs) | Re (000 lbs) | Cu Eq. (mm lbs) | Au Eq. (000s oz) | Strip Ratio |
| 199 7 | 1,692 62 | 21 1 | 82 5 | 1,826 73 | 1,962 72 | 3.65 |
| 198 | 1,690 | 21 | 81 | 1,823 | 1,959 | |
| 7 | 62 | 1 | 5 | 72 | 72 | 3.69 |
| 197 6 | 1,676 61 | 20 1 | 76 4 | 1,801 70 | 1,942 70 | 3.96 |
| 196 6 | 1,647 57 | 17 1 | 66 4 | 1,754 65 | 1,904 65 | 4.48 |
Figure 2 below shows the resource pit shell and modelled block grades for the Northwest Expo deposit
Figure 2: Northwest Expo Resource Shell and Block Model Showing NSR/tonne
Coordinates are reported in UTM Zone 9 North (NAD83 CRS, VD CVG28BC) with units in metres.
Details of Red Dog Resource Estimate
The Red Dog Resource Estimate includes a total of 96 diamond drill holes totalling 21,970 metres drilled by Northisle and previous operators through the end of April 2026, of which 47 holes totalling 12,315 metres of assaying were completed under the direction of Northisle between June 2025 and April 2026.
Table 3 below summarizes the Red Dog Resource Estimate and shows the sensitivity of the estimate to cuto� assumptions.
Table 3: 2026 Red Dog Resource Estimate
| In Situ Grade | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| NSR Cutoff ($/T) | Resource Class | Tonnes (000 T) | NSR ($/t) | Cu (%) | Au (g/t) | Mo (ppm) | Re (ppm) | Cu Eq. (%) | Au Eq. (g/t) |
| $10.00 | Indicated Inferred | 90,961 3,476 | 48.30 41.93 | 0.19 0.21 | 0.21 0.14 | 32.51 31.28 | 0.20 0.22 | 0.42 0.37 | 0.40 0.35 |
| Indicated | 90,463 | 48.51 | 0.19 | 0.22 | 32.64 | 0.20 | 0.42 | 0.41 | |
| $11.00 | |||||||||
| Inferred | 3,421 | 42.43 | 0.21 | 0.14 | 31.59 | 0.22 | 0.37 | 0.36 | |
| $15.00 | Indicated Inferred | 87,802 3,219 | 49.58 44.27 | 0.19 0.22 | 0.22 0.15 | 33.25 32.48 | 0.20 0.23 | 0.43 0.39 | 0.42 0.37 |
| $20.00 | Indicated Inferred | 82,720 2,799 | 51.54 48.26 | 0.20 0.24 | 0.23 0.16 | 34.14 31.99 | 0.21 0.22 | 0.45 0.42 | 0.43 0.40 |
| Contained Metal | ||||||
|---|---|---|---|---|---|---|
| Cu (mm lbs) | Au (000s oz) | Mo (mm lbs) | Re (000 lbs) | Cu Eq. (mm lbs) | Au Eq. (000s oz) | Strip Ratio |
| 380 16 | 628 16 | 7 0 | 40 2 | 846 28 | 1,183 39 | 2.26 |
| 379 | 627 | 7 | 40 | 845 | 1,181 | |
| 2.28 | ||||||
| 16 | 16 | 0 | 2 | 28 | 39 | |
| 376 16 | 622 15 | 6 0 | 39 2 | 839 27 | 1,172 38 | 2.39 |
| 368 15 | 610 15 | 6 0 | 38 1 | 821 26 | 1,148 36 | 2.60 |
Refer to Table 1 for Notes to the Resource Table.
Table 4 below summarizes the shallow higher-grade core of the Red Dog deposit that is expected to be included in the first pushback of mining from Red Dog. This pit shell is defined by the 30% revenue factor of the base case economic inputs defining the resource pit shell.
Table 4: Red Dog Shallow Higher-Grade Core
| In Situ Grade | ||||||||
| Resource Class | Tonnes (000 T) | NSR ($/t) | Cu (%) | Au (g/t) | Mo (ppm) | Re (ppm) | Cu Eq. (%) | Au Eq. (g/t) |
| Indicated Inferred | 26,579 0 | 70.50 0.00 | 0.25 0.00 | 0.34 0.00 | 50.34 0.00 | 0.30 0.00 | 0.62 0.00 | 0.59 0.00 |
| Contained Metal | |||
|---|---|---|---|
| Cu (mm lbs) | Au (000s oz) | Cu Eq. (mm lbs) | Strip Ratio |
| 144 0 | 293 0 | 361 0 | 0.11 |
Refer to Table 1 for Notes to the Resource Table.
Figure 3 below shows the resource pit shell (grey) and the low strip-ratio, higher-grade conceptual initial phase (gold) as summarized above. The modelled block grades shown are the NSR blocks above the $11.00/tonne cut-o�.
Figure 3: Red Dog Resource Shell and Block Model Showing NSR/tonne
Coordinates are reported in UTM Zone 9 North (NAD83 CRS, VD CVG28BC) with units in metres.
Details of West Goodspeed Resource Estimate
The West Goodspeed Resource Estimate includes a total of 47 diamond drill holes totalling 14,435 metres drilled by Northisle and previous operators through the end of August 2025, of which 38 holes totalling 12,000 metres were completed under the direction of Northisle between 2023 and 2025.
Table 5 below summarizes the West Goodspeed Resource Estimate and shows the sensitivity of the
Table 5: 2026 West Goodspeed Resource Estimate
| In Situ Grade | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| NSR Cutoff ($/T) | Resource Class | Tonnes (000 T) | NSR ($/t) | Cu (%) | Au (g/t) | Mo (ppm) | Re (ppm) | Cu Eq. (%) | Au Eq. (g/t) |
| $10.00 | Indicated Inferred | 114,345 39,542 | 34.86 27.99 | 0.16 0.13 | 0.16 0.12 | 60.77 51.85 | 0.40 0.37 | 0.35 0.28 | 0.32 0.26 |
| Indicated | 113,070 | 35.14 | 0.16 | 0.16 | 61.22 | 0.40 | 0.35 | 0.32 | |
| $11.00 | Inferred | 38,991 | 28.24 | 0.13 | 0.13 | 52.28 | 0.38 | 0.28 | 0.26 |
| $15.00 | Indicated Inferred | 107,136 36,077 | 36.35 29.45 | 0.16 0.13 | 0.16 0.13 | 62.98 54.20 | 0.41 0.39 | 0.36 0.29 | 0.33 0.27 |
| $20.00 | Indicated Inferred | 93,125 29,551 | 39.16 32.03 | 0.18 0.14 | 0.18 0.15 | 66.73 58.13 | 0.43 0.42 | 0.39 0.32 | 0.36 0.29 |
| Contained Metal | ||||||
|---|---|---|---|---|---|---|
| Cu (mm lbs) | Au (000s oz) | Mo (mm lbs) | Re (000 lbs) | Cu Eq. (mm lbs) | Au Eq. (000s oz) | Strip Ratio |
| 398 111 | 574 158 | 15 5 | 100 33 | 876 244 | 1,170 325 | 1.67 |
| 397 | 573 | 15 | 99 | 873 | 1,166 | |
| 111 | 157 | 4 | 32 | 243 | 323 | 1.71 |
| 388 106 | 563 152 | 15 4 | 97 31 | 855 234 | 1,143 312 | 1.87 |
| 362 93 | 529 139 | 14 4 | 89 27 | 801 208 | 1,070 278 | 2.35 |
Figure 4 below shows the resource pit shell and modelled block grades for the West Goodspeed deposit
Figure 4: West Goodspeed Resource Shell and Block Model Showing NSR/tonne
Coordinates are reported in UTM Zone 9 North (NAD83 CRS, VD CVG28BC) with units in metres.
Details of Hushamu Resource Estimate
The Hushamu Resource Estimate includes a total of 165 diamond drill holes totalling 40,482 metres drilled by Northisle and previous operators through the end of 2022, of which 40 holes totalling 13,345 metres of assaying were completed under the direction of Northisle between 2011 and 2023.
Table 6 below summarizes the Hushamu Resource Estimate and shows the sensitivity of the estimate to cut-o� assumptions.
Table 6: 2026 Hushamu Resource Estimate
| In Situ Grade | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| NSR Cutoff ($/T) | Resource Class | Tonnes (000 T) | NSR ($/t) | Cu (%) | Au (g/t) | Mo (ppm) | Re (ppm) | Cu Eq. (%) | Au Eq. (g/t) |
| $10.00 | Indicated Inferred | 942,630 213,047 | 31.17 24.35 | 0.14 0.12 | 0.19 0.14 | 85.03 63.73 | 0.48 0.38 | 0.32 0.25 | 0.39 0.31 |
| Indicated | 927,672 | 31.51 | 0.14 | 0.20 | 85.22 | 0.48 | 0.32 | 0.40 | |
| $11.00 | Inferred | 210,433 | 24.52 | 0.12 | 0.14 | 64.04 | 0.38 | 0.25 | 0.32 |
| $15.00 | Indicated Inferred | 848,172 195,532 | 33.23 25.38 | 0.15 0.12 | 0.21 0.15 | 86.11 65.42 | 0.49 0.39 | 0.34 0.26 | 0.42 0.33 |
| $20.00 | Indicated Inferred | 702,991 147,938 | 36.46 27.88 | 0.16 0.13 | 0.22 0.17 | 87.19 67.76 | 0.50 0.41 | 0.37 0.29 | 0.46 0.36 |
| Contained Metal | ||||||
|---|---|---|---|---|---|---|
| Cu (mm lbs) | Au (000s oz) | Mo (mm lbs) | Re (000 lbs) | Cu Eq. (mm lbs) | Au Eq. (000s oz) | Strip Ratio |
| 2,828 548 | 5,858 984 | 177 30 | 1,001 177 | 6,640 1,181 | 11,926 2,154 | 0.44 |
| 2,818 | 5,825 | 174 | 988 | 6,604 | 11,862 | |
| 545 | 979 | 30 | 176 | 1,174 | 2,142 | 0.47 |
| 2,741 522 | 5,607 947 | 161 28 | 914 167 | 6,367 1,129 | 11,429 2,060 | 0.60 |
| 2,534 433 | 5,072 796 | 135 22 | 769 133 | 5,786 938 | 10,372 1,711 | 0.96 |
Refer to Table 1 for Notes to the Resource Table.
Table 7 below highlights the shallow higher-grade core of the Hushamu deposit that is expected be included in the first pushback to be extracted from this deposit. This pit shell is defined by the 37% revenue factor of the base case economic inputs defining the resource pit shell.
Table 7: Hushamu Shallow Higher-Grade Core
| In Situ Grade | ||||||||
| Resource Class | Tonnes (000 T) | NSR ($/t) | Cu (%) | Au (g/t) | Mo (ppm) | Re (ppm) | Cu Eq. (%) | Au Eq. (g/t) |
| Indicated Inferred | 96,439 2,094 | 44.06 39.28 | 0.21 0.16 | 0.26 0.26 | 79.22 84.93 | 0.44 0.65 | 0.45 0.40 | 0.54 0.49 |
| Contained Metal | |||
|---|---|---|---|
| Cu (mm lbs) | Au (000s oz) | Cu Eq. (mm lbs) | Strip Ratio |
| 447 7 | 801 17 | 953 18 | 0.40 |
Refer to Table 1 for Notes to the Resource Table.
Figure 5 below shows the resource pit shell (grey) and the higher-grade, 37% conceptual pit shell (gold) as summarized above. The modelled block grades shown are the NSR blocks above the $11.00/tonne cut-o�.
Figure 5: Hushamu Resource Shell and Block Model Showing NSR/tonne
Coordinates are reported in UTM Zone 9 North (NAD83 CRS, VD CVG28BC) with units in metres.
Design Basis
The following Design Basis was established for the purpose of the 2026 Resource Estimate. The economic assumptions presented here may change during the completion of the ongoing North Island Project PFS.