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Topia Mine ASSET

ASSET DESCRIPTION

ASSET NAME

Topia Mine

ASSET TYPE

Operating

Operating METALS & MINERALS

Gold, Lead, Silver, Zinc

OPERATOR

Great Panther

SPECIFIC LOCATION

Topia, Mexico

CURRENT ASSET STATUS

Producing

REFERENCE OR DISTRICT NAME

Topia Mining District

HISTORICAL OWNERSHIP

MINERAL RESOURCES AND RESERVES

Mineral Resources:

Metal	Measured				Indicated				Inferred			Attributable interests
Metal	Tonnage	Grade	Contained	CutOff	Tonnage	Grade	Contained	CutOff	Tonnage	Grade	Contained	Contained
Gold	180.4 k mt	1.44 g/t	8.32 k oz	0 g/t	165.8 k mt	1.17 g/t	6.24 k oz	0 g/t	357.4 k mt	1.31 g/t	15.06 k oz	0
Lead	180.4 k mt	4.26 %	0 m lbs	0 %	165.8 k mt	4.75 %	0 m lbs	0 %	357.4 k mt	3.44 %	0 m lbs	0
Silver	180.4 k mt	606 g/t	3.52 m oz	0 g/t	165.8 k mt	644 g/t	3.43 m oz	0 g/t	357.4 k mt	592 g/t	6.81 m oz	0
Zinc	180.4 k mt	4.52 %	0 m lbs	0 %	165.8 k mt	3.82 %	0 m lbs	0 %	357.4 k mt	3.96 %	0 m lbs	0

Mineral Reserves:

Metal	Proven				Probable				Attributable interests
Metal	Tonnage	Grade	Contained	CutOff	Tonnage	Grade	Contained	CutOff	Contained
Gold	0 k mt	0 g/t	0 k oz	0 g/t	0 k mt	0 g/t	0 k oz	0 g/t	0
Lead	0 k mt	0 %	0 m lbs	0 %	0 k mt	0 %	0 m lbs	0 %	0
Silver	0 k mt	0 g/t	0 m oz	0 g/t	0 k mt	0 g/t	0 m oz	0 g/t	0
Zinc	0 k mt	0 %	0 m lbs	0 %	0 k mt	0 %	0 m lbs	0 %	0

TOTAL CASH COST PER GOLD OUNCE

Amount in millions	Mining	Processing	Admin	Royalties	Total	%
Fuel	0	0	0	0	0	0 %
Maintenance	0	0	0	0	0	0 %
Labour	0	0	0	0	0	0 %
Insurance	0	0	0	0	0	0 %
Royalities	0	0	0	0	0	0 %
Reagents	0	0	0	0	0	0 %
Explosives	0	0	0	0	0	0 %
Contractors/consultants	0	0	0	0	0	0 %
Other*	0	0	0	0	0	0 %
Total US$ millions	0	0	0	0	0	0 %

PRODUCTION

PRODUCTION CYCLE	Annual	2026 Experiences				Expectations
PRODUCTION CYCLE	2025	Q1	Q2	Q3	Q4	2026	5 Year Avg	Remaining LOM
	0	0	0	0	0	0	0	0	Capital Expenditures	1	3
	0	0	0	0	0	0	0	0	Ore Tons Mined	2	3
	0	0	0	0	0	0	0	0	Mill Feed - Ore Tons Processed	3	3
	0	0	0	0	0	0	0	0	Gold (k oz) Produced	79	2
	0	0	0	0	0	0	0	0	Lead (m lbs) Produced	82	2
	0	0	0	0	0	0	0	0	Silver (m oz) Produced	93	2
	0	0	0	0	0	0	0	0	Zinc (m lbs) Produced	100	2
	0	0	0	0	0	0	0	0	Gold (k oz) Sold	79	1
	0	0	0	0	0	0	0	0	Lead (m lbs) Sold	82	1
	0	0	0	0	0	0	0	0	Silver (m oz) Sold	93	1
	0	0	0	0	0	0	0	0	Zinc (m lbs) Sold	100	1
	0	0	0	0	0	0	0	0	Gold Recovery (%)	79	4
	0	0	0	0	0	0	0	0	Lead Recovery (%)	82	4
	0	0	0	0	0	0	0	0	Silver Recovery (%)	93	4
	0	0	0	0	0	0	0	0	Zinc Recovery (%)	100	4
	0	0	0	0	0	0	0	0	Cash Operating Cost	4	3
	0	0	0	0	0	0	0	0	All - in Sustaining Costs	5	3
	0	0	0	0	0	0	0	0	Strip Ratio – Waste:Ore	6	3

ARTICULATED HAULERS

US METRIC

MINING TRUCKS

US METRIC

POWER DEMAND

POWER AND ENGINEERING

Power Usage: total MWh per year

Peak power demand MW

Environmental Impact Assessment, man hours

Engineering firms

Local firms

AFTER TAX & ROYALTY NET PRESENT VALUE

Date of Assessment

Jun 5, 2026