Reserves & Resources
MT TODD RESERVES & RESOURCES
Notes – Mineral Reserves:
- Thomas L. Dyer, P.E., is the QP responsible for reporting the Batman Deposit Proven and Probable Mineral Reserves.
- Batman deposit mineral reserves are reported using a 0.35 g Au/t cutoff grade and $1600 per ounce gold price.
- Deepak Malhotra is the QP responsible for reporting the heap-leach pad mineral reserves.
- Because all the heap-leach pad reserves are to be fed through the mill, these mineral reserves are reported without a cutoff grade applied.
- The mineral reserves point of reference is the point where material is fed into the mill.
- The effective date of the mineral reserve estimates under the requirements of S-K 1300 is December 31, 2022. There have been no changes in the mineral reserve estimates since December 31, 2021 because the Company and the relevant qualified persons determined that the same material assumptions and criteria continued to apply as of December 31, 2022, including that the Company used a cutoff grade higher than the economic cutoff grade such that any intervening changes in the underlying economic assumptions were not material and did not require use of a cutoff grade greater than 0.35 g Au/t for mineral reserve estimation purposes.
- The effective date of the mineral reserve estimates is December 31, 2021.
Notes – Mineral Resources:
- Measured & Indicated Mineral Resources include Proven and Probable Reserves.
- The Point of Reference for the Batman and Quigleys deposits is in situ at the property. The Point of Reference for the Heap Leach is the physical Heap Leach pad at the property.
- Batman and Quigleys mineral resources are quoted at a 0.40g-Au/t cut-off grade. Heap Leach resources are the average grade of the heap, no cut-off applied.
- Batman: Mineral resources constrained within a $1,300/oz gold WhittleTM pit shell. Pit parameters: Mining Cost $1.50/tonne, Milling Cost $7.80/tonne processed, G&A Cost $0.46/tonne processed, G&A/Year 8,201 K US4, Au Recovery, Sulfide 85%, Transition 80%, Oxide 80%, 0.2g-Au/t minimum for resource shell.
- Quigleys: Resources constrained within a $1,300/oz gold WhittleTM pit shell. Pit parameters: Mining cost $1.90/tonne, Processing Cost $9.779/tonne processed, Royalty 1% GPR, Gold Recovery Sulfide, 82.0% and Ox/Trans 78.0%, water treatment $0.09/tonne, Tailings $0.985/tonne.
- Differences in the table due to rounding are not considered material. Differences between Batman and Quigleys mining and metallurgical parameters are due to their individual geologic and engineering characteristics.
- Rex Bryan of Tetra Tech is the QP responsible for the Statement of Mineral Resources for the Batman, Heap Leach Pad and Quigleys deposits.
- Thomas Dyer of RESPEC is the QP responsible for developing the resource WhittleTM pit shell for the Batman Deposit.
- The effective date of the Batman Deposit, Heap Leach Pad, and Quigleys Deposit mineral resources estimates under the requirements of SK-1300 is December 31, 2022. There have been no changes in the mineral resource estimates since December 31, 2021 because upon review the Company and the relevant qualified persons determined that the same material assumptions and estimates, including all economic parameters for resource estimation purposes, continued to apply as of December 31, 2022.
- The effective date of the Heap Leach, Batman and Quigleys resource estimate is December 31, 2021.
- Mineral resources that are not mineral reserves have no demonstrated economic viability and do not meet all relevant modifying factors.
All scientific and technical information contained herein has been prepared by, or under the supervision of, John Rozelle, Vista’s Senior Vice President, a Qualified Person as defined under subpart 1300 of Regulation S-K under the United States Securities Exchange Act of 1934, as amended and an independent Qualified Person as defined by Canadian National Instrument 43-101 – Standards of Disclosure of Mineral Projects.