• Mining of high-grade Upper North Lode commenced, with 18,384 tonnes mined
• 547,302 oz silver, 1,064 oz gold, 1,917 t zinc and 1,148 t lead produced
• Exploration advanced with near-mine drilling and regional geophysics ongoing

Polymetals Resources Ltd reported a solid March 2026 quarter, with the commencement of mining from the high-grade Upper North Lode (UNL) representing an important milestone. A total of 18,384 dry metric tonnes of high-grade direct shipping UNL ore was mined during the quarter, with the first 5,500-tonne parcel readied for shipment in April. The company also produced 547,302 oz silver, 1,064 oz gold, 1,917 t zinc and 1,148 t lead. Exploration activities advanced during the quarter, with near-mine drilling south of the Carpark Prospect continuing to test for Endeavor-style mineralisation, and a 65-line kilometre induced polarisation (IP) programme commenced over northern regional prospects. The company finished the quarter with $22.9 million in cash and $37.9 million in unsold net metal inventory. Polymetals is now able to deliver dual revenue streams from production of concentrate from Main Lode ore and direct shipping of high-grade UNL ore, positioning the business for a productive and sustainable future.

The company expects to continue mining the Upper North Lode at a rate of 20,000 tonnes per month for at least the next 18 months from May 2026.

Polymetals remains focused on maintaining safety, delivering reliable operations, disciplined financial management and extending mine life through resource to reserve conversion and focused exploration. The company is building a strong pipeline of near-mine and regional exploration opportunities, with exploration increasingly focused on high-confidence targets generated through integrated geological and geophysical interpretation.