Resources & Reserves
ABM Deposit Mineral Resource Estimate
Zone | Classification | Tonnes (Mt) | Cu (%) | Pb (%) | Zn (%) | Au (g/t) | Ag (g/t) | Cu (kt) | Pb (kt) | Zn (kt) | Au (koz) | Ag (Moz) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABM (shallow) | Indicated | 14.6 | 1 | 1.6 | 6.1 | 1.3 | 132 | 141 | 229 | 887 | 614 | 62 |
Inferred | 0.3 | 1.5 | 1.6 | 4.5 | 1.1 | 117 | 5 | 5 | 14 | 11 | 1 | |
Krakatoa (shallow) | Indicated | 3.5 | 0.6 | 3.2 | 7.2 | 1.8 | 213 | 21 | 113 | 256 | 204 | 24 |
Inferred | 0.1 | 0.6 | 2.3 | 6.3 | 1.3 | 143 | 0.1 | 2 | 6 | 4 | 0.4 | |
Krakatoa (deep) | Indicated | 0.2 | 1 | 2.1 | 6.1 | 1.7 | 173 | 2 | 3 | 11 | 9 | 1 |
Inferred | 0.4 | 0.8 | 1.6 | 9.4 | 1.2 | 165 | 3 | 6 | 38 | 15 | 2 | |
Total | Indicated | 18.3 | 0.9 | 1.9 | 6.3 | 1.4 | 148 | 164 | 346 | 1,153 | 827 | 87 |
Inferred | 0.8 | 1 | 1.7 | 7.2 | 1.2 | 143 | 8 | 13 | 58 | 30 | 4 |
- BMC’s interest in the ABM Deposit is 100%.
- The Mineral Resources are reported in accordance with the JORC Code by Competent Person, FAIG.
- The Effective Date of this MRE is 3rd January 2025.
- Numbers have been rounded to reflect the precision of an Indicated and Inferred MRE (noting that MRE are, by nature, approximate, and with a degree of uncertainty).
- The ABM Deposit Mineral Resources are inclusive of the Probable Ore Reserves.
- Shallow Zone cut-off at NSR cut-off grade of US$40/t.
- Deep Zone cut-off at NSR cut-off grade of US$150/t.
- NSR formula: NSR US$/t =((69.17*Cu_cut) + (6.85*Pb_cut) + (19.53*Zn_cut) + (30.13*Au_cut) + (0.49*Ag_cut)).
- An exchange rate of 0.75 CAD:USD.
- The optimal transition from open pit to underground has not been considered when reporting the Mineral Resource. KeyModifying Factors in determining this transition have been factored into reporting of the Ore Reserve.
Kona Deposit Mineral Resource Estimate
Classification | Tonnes (Mt) | Cu (%) | Au (g/t) | Ag (g/t) | Cu (kt) | Au (koz) | Ag (koz) |
|---|---|---|---|---|---|---|---|
Indicated | 2.1 | 1.6 | 0.8 | 4 | 33 | 53 | 294 |
Inferred | 6.7 | 1.7 | 0.6 | 4 | 117 | 138 | 762 |
- BMC’s interest in the Kona Deposit is 100% through its wholly owned subsidiary, Finlayson Copper Ltd.
- Mineral Resources are reported in accordance with the JORC Code by Competent Person, FAIG.
- The Effective Date of this MRE is 30th June 2025.
- Numbers have been rounded to reflect the precision of an Indicated and Inferred MRE (noting that MRE are, by nature, approximate, and with a degree of uncertainty).
- The Kona MRE has been reported above an NSR cut-off of C$113/t.
- Silver was concluded not to be economic and thus is not included in the NSR calculation.
- NSR formula: NSR US$/t =((68.31*Cu_cut) + (60.26*Au_cut)).
- An exchange rate of 0.75 CAD:USD.
- Preliminary underground optimisation studies support the reporting of the Mineral Resource above the C$113/t cut-off particularly as a satellite mining operation to a central processing facility at the Kudz Ze Kayah Project.
- The Kona MRE is not included in the feasibility studies completed since 2015.
ABM Deposit Ore Reserve Estimate
Mine | Category | Tonnes (Mt) | Cu (%) | Pb (%) | Zn (%) | Au (g/t) | Ag (g/t) | Cu (kt) | Pb (kt) | Zn (kt) | Au (koz) | Ag (Moz) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Open pit | Probable | 14.0 | 0.9 | 1.6 | 5.9 | 1.3 | 136 | 128 | 226 | 828 | 596 | 61 |
Underground | Probable | 1.7 | 0.4 | 2.3 | 5.0 | 1.3 | 147 | 7 | 40 | 87 | 70 | 8 |
Total | Probable | 15.7 | 0.9 | 1.7 | 5.8 | 1.3 | 138 | 136 | 266 | 915 | 666 | 70 |
- BMC’s interest in the ABM Deposit is 100%.
- Ore Reserves in this report are reported in accordance with the JORC Code.
- The effective date of this Ore Reserve is 30th October 2023.
- Numbers have been rounded to reflect the precision of the estimates.
- Open pit Ore Reserves are reported within a practical design for an open pit using an NSR cut-off.
- Practical open pit designs were informed by economic mining envelopes determined using Whittle pit optimisation software.
- Overall slope angles for the designed open pit range from 27° to 47°.
- Underground Ore Reserves are based on an underhand longhole stoping with cemented paste fill mining method and reported to a NSR cut-off.
- Ore Reserves incorporate estimates of mining dilution and mining recovery.
- Processing recoveries have been calculated for each of the defined metallurgical domains. Average processing recoveries are 73.8% for copper, 73.5% for lead, 85.9% for zinc, 64.9% for gold and 86.0% for silver.
- NSR calculations represent the net revenue to Mine Gate after accounting for concentrate treatment and refining charges, concentrate penalties, concentrate transport costs, government royalties, and payments to First Nations.
Technical Disclaimer
Competent Persons Statement: Exploration Results, Mineral Resource Estimations for the ABM Deposit and the Kona Deposit and Ore Reserve Estimation for the ABM Deposit:
The information on this website that relates to Exploration Results, the estimation and reporting of the ABM deposit and Kona deposit Mineral Resources Estimates and the estimation and reporting of the ABM Ore Reserve is extracted from the report entitled “Mineral Assets of the Kudz Ze Kayah Project, Yukon, Canada. Technical Assessment Report” contained in BMC Minerals Ltd.'s Prospectus dated 10 November 2025, as supplemented by the supplementary prospectus dated 17 November 2025, the second supplementary prospectus dated 21 November and the third supplementary prospectus dated 1 December 2025 released to the ASX platform on 10 December 2025, which is available to view on bmcminerals.com and asx.com.au.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant original market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
NI 43-101 Qualified Person Statement
“Cautionary Statement to Canadian Investors Regarding Mineral Reserves and Mineral Resources"
Dr. Neil Martin, a member of the Australian Institute of Geoscientists (AIG), Senior Vice President of Exploration and Development at BMC and a Qualified Person as defined under National Instrument 43-101 (“NI 43-101”), has reviewed and approved the scientific and technical information on this page.
The Mineral Resource and Ore Reserve estimates on this page are reported in accordance with the 2012 edition of the JORC Code and do not comply with the CIM Definition Standards on Mineral Resources and Mineral Reserves established by the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM Definition Standards”). The Company believes that the resource classifications applied to its assets under the JORC Code and under the CIM Definition Standards are not materially different, however the full process required to reconcile the Mineral Resources and Ore Reserves presented in accordance with JORC to the CIM Definition Standards has not been undertaken.
Canadians should refer to the technical report for the Kudz Ze Kayah Property titled “Kudz Ze Kayah Property Yukon, Canada, NI 43-101 Technical Report” with an effective date of March 1, 2025, and to the technical report for the Kona Property titled “Kona Project, Yukon, Canada, NI 43-101 Technical report” with an effective date of 30th January, 2026 prepared for BMC and available on its SEDAR+ profile at www.sedarplus.ca (the “NI 43-101 Report”) for Mineral Resource and Mineral Reserve estimates reported in accordance with the CIM Definition Standards.All scientific and technical information on this page is qualified in its entirety by reference to the complete NI 43-101 Reports.”
ABM Deposit Mineral Resource Estimate
Zone | Classification | Tonnes (Mt) | Cu (%) | Pb (%) | Zn (%) | Au (g/t) | Ag (g/t) | Cu (kt) | Pb (kt) | Zn (kt) | Au (koz) | Ag (Moz) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABM (shallow) | Indicated | 14.6 | 1 | 1.6 | 6.1 | 1.3 | 132 | 141 | 229 | 887 | 614 | 62 |
Inferred | 0.3 | 1.5 | 1.6 | 4.5 | 1.1 | 117 | 5 | 5 | 14 | 11 | 1 | |
Krakatoa (shallow) | Indicated | 3.5 | 0.6 | 3.2 | 7.2 | 1.8 | 213 | 21 | 113 | 256 | 204 | 24 |
Inferred | 0.1 | 0.6 | 2.3 | 6.3 | 1.3 | 143 | 0.1 | 2 | 6 | 4 | 0.4 | |
Krakatoa (deep) | Indicated | 0.2 | 1 | 2.1 | 6.1 | 1.7 | 173 | 2 | 3 | 11 | 9 | 1 |
Inferred | 0.4 | 0.8 | 1.6 | 9.4 | 1.2 | 165 | 3 | 6 | 38 | 15 | 2 | |
Total | Indicated | 18.3 | 0.9 | 1.9 | 6.3 | 1.4 | 148 | 164 | 346 | 1,153 | 827 | 87 |
Inferred | 0.8 | 1 | 1.7 | 7.2 | 1.2 | 143 | 8 | 13 | 58 | 30 | 4 |
- BMC’s interest in the ABM Deposit is 100%.
- The Mineral Resources are reported in accordance with the JORC Code by Competent Person, FAIG.
- The Effective Date of this MRE is 3rd January 2025.
- Numbers have been rounded to reflect the precision of an Indicated and Inferred MRE (noting that MRE are, by nature, approximate, and with a degree of uncertainty).
- The ABM Deposit Mineral Resources are inclusive of the Probable Ore Reserves.
- Shallow Zone cut-off at NSR cut-off grade of US$40/t.
- Deep Zone cut-off at NSR cut-off grade of US$150/t.
- NSR formula: NSR US$/t =((69.17*Cu_cut) + (6.85*Pb_cut) + (19.53*Zn_cut) + (30.13*Au_cut) + (0.49*Ag_cut)).
- An exchange rate of 0.75 CAD:USD.
- The optimal transition from open pit to underground has not been considered when reporting the Mineral Resource. KeyModifying Factors in determining this transition have been factored into reporting of the Ore Reserve.
Kona Deposit Mineral Resource Estimate
Classification | Tonnes (Mt) | Cu (%) | Au (g/t) | Ag (g/t) | Cu (kt) | Au (koz) | Ag (koz) |
|---|---|---|---|---|---|---|---|
Indicated | 2.1 | 1.6 | 0.8 | 4 | 33 | 53 | 294 |
Inferred | 6.7 | 1.7 | 0.6 | 4 | 117 | 138 | 762 |
- BMC’s interest in the Kona Deposit is 100% through its wholly owned subsidiary, Finlayson Copper Ltd.
- Mineral Resources are reported in accordance with the JORC Code by Competent Person, FAIG.
- The Effective Date of this MRE is 30th June 2025.
- Numbers have been rounded to reflect the precision of an Indicated and Inferred MRE (noting that MRE are, by nature, approximate, and with a degree of uncertainty).
- The Kona MRE has been reported above an NSR cut-off of C$113/t.
- Silver was concluded not to be economic and thus is not included in the NSR calculation.
- NSR formula: NSR US$/t =((68.31*Cu_cut) + (60.26*Au_cut)).
- An exchange rate of 0.75 CAD:USD.
- Preliminary underground optimisation studies support the reporting of the Mineral Resource above the C$113/t cut-off particularly as a satellite mining operation to a central processing facility at the Kudz Ze Kayah Project.
- The Kona MRE is not included in the feasibility studies completed since 2015.
ABM Deposit Ore Reserve Estimate
Mine | Category | Tonnes (Mt) | Cu (%) | Pb (%) | Zn (%) | Au (g/t) | Ag (g/t) | Cu (kt) | Pb (kt) | Zn (kt) | Au (koz) | Ag (Moz) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Open pit | Probable | 14.0 | 0.9 | 1.6 | 5.9 | 1.3 | 136 | 128 | 226 | 828 | 596 | 61 |
Underground | Probable | 1.7 | 0.4 | 2.3 | 5.0 | 1.3 | 147 | 7 | 40 | 87 | 70 | 8 |
Total | Probable | 15.7 | 0.9 | 1.7 | 5.8 | 1.3 | 138 | 136 | 266 | 915 | 666 | 70 |
- BMC’s interest in the ABM Deposit is 100%.
- Ore Reserves in this report are reported in accordance with the JORC Code.
- The effective date of this Ore Reserve is 30th October 2023.
- Numbers have been rounded to reflect the precision of the estimates.
- Open pit Ore Reserves are reported within a practical design for an open pit using an NSR cut-off.
- Practical open pit designs were informed by economic mining envelopes determined using Whittle pit optimisation software.
- Overall slope angles for the designed open pit range from 27° to 47°.
- Underground Ore Reserves are based on an underhand longhole stoping with cemented paste fill mining method and reported to a NSR cut-off.
- Ore Reserves incorporate estimates of mining dilution and mining recovery.
- Processing recoveries have been calculated for each of the defined metallurgical domains. Average processing recoveries are 73.8% for copper, 73.5% for lead, 85.9% for zinc, 64.9% for gold and 86.0% for silver.
- NSR calculations represent the net revenue to Mine Gate after accounting for concentrate treatment and refining charges, concentrate penalties, concentrate transport costs, government royalties, and payments to First Nations.
Technical Disclaimer
Competent Persons Statement: Exploration Results, Mineral Resource Estimations for the ABM Deposit and the Kona Deposit and Ore Reserve Estimation for the ABM Deposit:
The information on this website that relates to Exploration Results, the estimation and reporting of the ABM deposit and Kona deposit Mineral Resources Estimates and the estimation and reporting of the ABM Ore Reserve is extracted from the report entitled “Mineral Assets of the Kudz Ze Kayah Project, Yukon, Canada. Technical Assessment Report” contained in BMC Minerals Ltd.'s Prospectus dated 10 November 2025, as supplemented by the supplementary prospectus dated 17 November 2025, the second supplementary prospectus dated 21 November and the third supplementary prospectus dated 1 December 2025 released to the ASX platform on 10 December 2025, which is available to view on bmcminerals.com and asx.com.au.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant original market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.
NI 43-101 Qualified Person Statement
“Cautionary Statement to Canadian Investors Regarding Mineral Reserves and Mineral Resources"
Dr. Neil Martin, a member of the Australian Institute of Geoscientists (AIG), Senior Vice President of Exploration and Development at BMC and a Qualified Person as defined under National Instrument 43-101 (“NI 43-101”), has reviewed and approved the scientific and technical information on this page.
The Mineral Resource and Ore Reserve estimates on this page are reported in accordance with the 2012 edition of the JORC Code and do not comply with the CIM Definition Standards on Mineral Resources and Mineral Reserves established by the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM Definition Standards”). The Company believes that the resource classifications applied to its assets under the JORC Code and under the CIM Definition Standards are not materially different, however the full process required to reconcile the Mineral Resources and Ore Reserves presented in accordance with JORC to the CIM Definition Standards has not been undertaken.
Canadians should refer to the technical report for the Kudz Ze Kayah Property titled “Kudz Ze Kayah Property Yukon, Canada, NI 43-101 Technical Report” with an effective date of March 1, 2025, and to the technical report for the Kona Property titled “Kona Project, Yukon, Canada, NI 43-101 Technical report” with an effective date of 30th January, 2026 prepared for BMC and available on its SEDAR+ profile at www.sedarplus.ca (the “NI 43-101 Report”) for Mineral Resource and Mineral Reserve estimates reported in accordance with the CIM Definition Standards.All scientific and technical information on this page is qualified in its entirety by reference to the complete NI 43-101 Reports.”