b'G O L D M I N E S Life of Mine6.5 years2025125,000 (estimate for Bell EmploymentApproximately 100 Creek and Timmins West combined)NotesAs of August 2023, Silver LakeResources12,200,000 tonnes at 2.70 g/t gold, Resources has halted operations atcontaining 1,067,300 ounces of gold the Sugar Zone gold mine to initiate a(Measured and IndicatedJune 2024 strategic reset. This pause affects bothfor Bell Creek and Timmins West mining and processing activities. Thecombined)company has outlined plans to revise3,500,000 tonnes at 3.37 g/t gold, mining methods and enhance thecontaining 382,500 ounces of gold logistics network at the site, aiming to(InferredJune 2024 for Bell Creek foster efficient production and ensureand Timmins West combined)the mines longevity. Prior to ceasingOpened2011operations in August, the Sugar ZoneLife of Mine2025Mine had produced 23,587 ouncesEmploymentApproximately 250 of gold during 2023. A merger ofNotesPan American Silver Corp. Timmins equals took place between Silver Lakeoperations consists of two Resources and Red 5 Ltd. in 2024, andunderground gold mines, the Timmins the company since rebranded as VaultWest Mine and the Bell Creek Mine, Minerals. Vault has completed 93,000which both feed the Bell Creek Mill. m of drilling in FY24 and produced anAs of September 30 th , 2024, the updated Mineral Resource for SugarTimmins operations mined 1,239,000 Zone. The updated mineral resourcetonnes of ore at a grade of 2.47 g/t estimate for Sugar Zone now has thefor a total of 95, 800 oz of Au and deposit at 325 koz in reserve at 5.2 g/t8,000 oz of Ag. As of June 2024, the Au and 1.28 million ounces in resourcecombined Timmins operations have at 8.2 g/t. Vault has also invested ina reserve of 481.4 koz in the proven upgrades to the mining fleet and site- category at a grade of 2.79 g/t and wide infrastructure to recommence386.2 koz probable reserve at a grade mining operations at Sugar Zone.of 2.74 g/t Au.Gold production in Q3 There has been no announcement for2024 was five-per-cent higher than when mining is scheduled to restart.production in Q3 2023, attributed Vault Minerals has been focused onto higher throughput at both the expanding their understanding of theBell Creek and Timmins West mines. structural controls of mineralizationExploration drilling continued at the and the geospatial distribution ofWhitney Project, located 4.5 km south ore within the Sugar Zone ore body.of the Bell Creek processing plant. The company has also cited regionalDrilling confirmed current resources exploration on the propertys landat Hallnor/Bonetal and historic package as a priority activity. resources at Broulan Reef, which were referenced in the June 30 thmineral resource and reserve updates under TIMMINS WEST MINE (TIMMINS OPERATIONS) the Whitney Project.Pan American Silver Corp.Lake Shore Gold Corp. gold producer undergroundMailing Address 8215 Highway 101Timmins, ONP0N 1C0Tel: (705) 269-4344Websitewww.panamericansilver.comMine ManagerCourtney NunnProduction Rate3,300 tonnes per day (target rate), 4,400 tonnes per day (average plantPARTNERthroughput), 5,400 tonnes per day (mill capacity) WITH USProduction2021133,850 ounces of gold andFOR YOUR16,160 ounces of silver (Bell Creek and Timmins West mines combined) FAST TRACK2022134,640 ounces of gold andTO SUCCESS!15,300 ounces of silver (Bell Creek and Timmins West mines combined)2023132,900 ounces of gold and 16,200 ounces of silver (Bell Creek and Timmins West combined)2024123,700 ounces of gold andRobert Thompson, Senior Vice President 15,000 ounces of silver (Bell Creek androbertt@mediaedge.ca 647-494-4229Timmins West combined) ONTARIO MINING AND EXPLORATION DIRECTORY AND RESOURCE GUIDE 2025 17'