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Mineral Resources and Ore Reserves

TABLE 1: Nifty Mineral Resource Estimate March 2024

Oxide, saprolite, traditional Mt Cu % Cu tonnes
Measured 2.6 1.02 26,471
Indicated 17.5 0.74 130,081
Inferred 0.8 0.70 5,902
Total Oxide, saprolite, traditional 21.0 0.78 162,000
Sulphide Mt Cu % Cu tonnes
Measured 35.5 0.98 347,610
Indicated 63.4 0.80 505,685
Inferred 5.2 0.43 22,479
Total Sulphide 104.0 0.84 876,000
Total Resources 125.0 0.83 1,038,000
Ore tonnes are rounded to the nearest 1,000; total Cu tonnes are rounded to the nearest 1,000; apparent discrepancies are due to rounding errors.
The Nifty Mineral Resource Estimate is reported above a 0.25% Cu cut-off grade.
The Updated Nifty Mineral Resource Estimate was released in an ASX announcement dated 14th March 2024.

TABLE 2: Nifty Heap Leach Mineral Resource Estimate August 2024

Mt Cu ppm Cu tonnes
Indicated 10.6 4,100 43,580
Inferred 2.0 5,140 10,470
Total Resources 12.7 4,260 54,050
Ore tonnes are rounded to the nearest 50; Cu tonnes are rounded to the nearest 10; apparent discrepancies are due to rounding errors.
The Nifty Heap Leach Mineral Resource Estimate is reported using a zero Cu ppm cut-off grade, with no top cut applied.
The Nifty Heap Leach Mineral Resource Estimate was released in an ASX announcement dated 19th August 2024.

TABLE 3: Nifty Ore Reserve Estimate November 2024

Sulphide Stream Mt Cu % Cu tonnes
Proved 22.7 1.06 239,000
Probable 60.6 0.85 514,000
Total Sulphide 83.3 0.90 753,000
Oxide Stream (Nifty Heap Leach) Mt Cu % Cu tonnes
Probable 10.6 0.41 44,000
Total Oxide 10.6 0.41 44,000
Total Ore Reserves 93.9 0.85 797,000
Ore tonnes are rounded to the nearest 100,000; Cu tonnes are rounded to the nearest 1,000; apparent discrepancies are due to rounding errors.
The MEC August 2024 Heap Leach Mineral Resource Estimate is reported above a zero Cu cut-off grade, with no top cut applied.
The Nifty Ore Reserve Estimate was released in an ASX announcement dated 27th November 2024.

Maroochydore Mineral Resource Estimate January 2025

TABLE 1: Maroochydore January 2025 Inferred Mineral Resource Estimate, by mineralisation category, ≥0.25% Cu Cutoff

Mt Cu % Cu tonnes Co ppm Co tonnes
Oxide 42.2 0.52 219,000 385 16,000
Transitional 55.5 0.51 283,000 272 15,000
Sulphide 273.2 0.39 1,065,000 193 53,000
Total 370.8 0.43 1,595,000 227 84,000
0.25% Cu cutoff. Metal grades take into account top and bottom cut. Numbers are rounded to reflect a suitable level of precision and may not sum due to rounding. The reported contained metal is not the same as a “recoverable” or “marketable” amount, as recovery rates and other factors can influence how much metal can be extracted. See accompanying technical report for additional details and important disclosures.
The Maroochydore Mineral Resource estimate was released to the ASX by Cyprium Metals Limited in an announcement dated 5th February 2025.

TABLE 2: Maroochydore January 2025 higher grade domain by mineralisation category, ≥0.45% Cu Cutoff

Mt Cu % Cu tonnes Co ppm Co tonnes
Oxide 21.5 0.69 148,000 504 11,000
Transitional 26.3 0.70 184,000 305 8,000
Sulphide 58.5 0.66 386,000 238 14,000
Total 106.3 0.67 712,000 308 33,000
0.45% Cu cutoff. Metal grades take into account top and bottom cut. Numbers are rounded to reflect a suitable level of precision and may not sum due to rounding. The reported contained metal is not the same as a “recoverable” or “marketable” amount, as recovery rates and other factors can influence how much metal can be extracted. See accompanying technical report for additional details and important disclosures.
The Maroochydore Mineral Resource estimate was released to the ASX by Cyprium Metals Limited in an announcement dated 5th February 2025.

TABLE 3: Maroochydore January 2025 higher grade domain by mineralisation category, ≥0.45% Cu Cutoff

Resource Category Material type Volume Tonnes Cu % Cu Tonnes Au g/t Au Ounces Ag g/t Ag Ounces
Indicated Oxide 5,000 10,000 1.20 100 0.09 0 4.16 1,300
Transitional 95,000 275,000 1.80 5,000 0.24 2,100 5.06 44,700
Fresh 638,000 1,894,000 2.00 37,100 0.31 18,900 6.64 404,400
Total Indicated 738,000 2,179,000 2.00 42,200 0.30 21,000 6.43 450,400
Inferred Transitional 4,000 12,000 0.40 0 0.02 0 0.98 400
Fresh 194,000 593,000 1.60 9,300 0.41 7,800 6.46 123,200
Total Inferred 198,000 605,000 1.60 9,300 0.40 7,800 6.35 123,600
Total Resources 936,000 2,784,000 1.90 51,500 0.32 28,800 6.41 574,000
Ore tonnes are reported as million tonnes (Mt) and rounded to nearest 10,000; Cu tonnes are rounded to nearest 1,000 tonnes; Au ounces are rounded to the nearest 100 ounces; Ag ounces are rounded to the nearest 100 ounces.
Nominal cut-off at 0.3% Cu.
Resource is reported on a 100% basis; Cyprium has an 80% attributable interest in Hollandaire.
Gold mineralisation not associated with the copper resource that is 100% attributable to MGV, has not been modelled or reported in the Hollandaire 2012 JORC Mineral Resource estimate.
The Hollandaire Mineral Resource Estimate was released to the ASX by Cyprium Metals Limited in an announcement dated 29th September 2020.