Overview Operating Review continued Bramaderos Mineral Resource and Exploration Targets The current Mineral Resource estimate (MRE), from the Brama-Alba target, reported in accordance with the JORC Code7F is 220Mt at 0.50g/t AuEq2 (0.33g/t gold and 0.10% copper) at a cut-off grade of 0.3g/t AuEq, for 3.6Mozs AuEq2 (see Table 1 below for more detail). Preliminary pit optimisation was applied to the deposit to constrain the MRE and demonstrate the potential to be mined economically by open pit methods. In addition to this MRE, the Bramaderos project has a porphyry Exploration Target reported in accordance with the JORC Code. It consists of between approximately 315 and 505Mt at a grade between 0.41 and 0.68g/t AuEq1,2 (gold + copper) for contained metal of between 4.1Moz and 11.2Moz AuEq (see Table 3). Further, an initial Exploration Target for the Limon epithermal gold-exploration target has been developed in accordance with the JORC code, consisting of 0.9Moz to 1.7Moz AuEq within 30 to 40Mt at a grade of 0.9 to 1.2g/t AuEq3,4 (see Table 4). Table 1 – Bramaderos Mineral Resource estimate JORC Classification Tonnage (Mt) Au (g/t) Cu (%) Ag (g/t) AuEq2 (g/t) AuEq2 (Mozs) Indicated 40 0.38 0.10 1.26 0.56 0.6 Inferred 190 0.32 0.10 1.14 0.49 2.9 Total 220 0.33 0.10 1.16 0.50 3.6 Table 2 – Mineral Resource estimate at various cut-off grades (reported at 0.3g/t AuEq) Cut Off AuEq (g/t) Tonnage (Mt) AuEq (g/t) AuEq (Moz) Au (g/t) Au (Moz) Cu (%) Cu Metal (Kt) Ag (g/t) Ag Metal (Moz) 0.2 300 0.44 4.2 0.29 2.7 0.09 260 1.05 10.1 0.3 220 0.50 3.6 0.33 2.3 0.10 220 1.16 8.2 0.4 150 0.58 2.8 0.38 1.8 0.11 170 1.28 6.2 0.5 90 0.66 1.9 0.45 1.3 0.12 110 1.38 4.0 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 for the Mineral Resource estimate and Exploration Target referred to above and, that all material assumptions and technical parameters underpinning the estimates 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. 7 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The JORC Code, 2012 Edition. Prepared by: The Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC). 17 Sunstone Metals Limited Annual Report 2026
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