Mercedes
Highlights
| Location | Sonora, Mexico |
| Ownership | 100% |
| Status | Operating |
| Commodities Produced | Gold and Silver |
| Mine Type | Fully mechanized ramp-access underground operation |
| Mine Layout | 11 proximal deposits mined historically of which 5 are actively in production |
| Processing | Conventional milling with agitated leach and Merrill-Crowe recovery of gold-silver doré |
| 2024 Production (to Sept. 30, 2024) | 32,283 oz gold and 161,872 oz silver |
| 2024 AISC (1) per gold oz sold (average, to Sept. 30, 2024) | $1,755 |
| 2023 Production | 43,860 oz gold and 167,019 oz silver |
| 2023 AISC (1) per oz of gold sold | $1,769 |
| Mineral Reserves (Proven and Probable) (2) | 54k oz gold and 312k oz silver (428 thousand tonnes grading 3.95 g/t gold and 22.71 g/t silver) |
| Mineral Resources (Measured and Indicated) (2) | 449k oz gold and 3,919k oz silver (2,339 thousand tonnes grading 5.98 g/t gold and 52.12 g/t silver) |
| Mineral Resources (Inferred) (2) | 65k oz gold and 445k oz silver (383 thousand tonnes grading 5.26 g/t gold and 36.06 g/t silver) |
| Exploration | 69,284 ha concession area |
1. AISC (All-in Sustaining Costs) is a Non-GAAP financial measure. Non-GAAP financial measures are not standardized financial measures under IFRS® Accounting Standards (“IFRS”) and might not be comparable to similar measures presented by other companies. Please refer to the Company’s most recent financial report for further explanation about AISC.
2. The Mineral Resources and Mineral Reserves for the Mercedes property presented above are effective as of September 30, 2024 (the “2024 Estimates”), and are supported by the NI 43-101 Mercedes Technical Report filed on SEDAR+ on March 14, 2025.