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## eStIMateD ore reServeS & reSourCeS 

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(1) Mineralized Material from Gold Hunter and Lucky Friday vein systems diluted and factored for expected mining recovery. 

(2) Mineralized Material only in Gallagher ore body, factored for dilution and mining recovery. 

(3) Mineralized Material diluted to minimum mining width of 2.0 meters for Hugh Zone, 1.5 meters for Andrea Vein. 

(4) Mineralized Material diluted to minimum mining width of 6.0 feet for Bulldog. 

(5) Mineralized Material diluted to minimum mining width of 4.3 feet. 

(6) Other Resources from Gold Hunter and Lucky Friday vein systems diluted and factored for expected mining recovery. 

(7) Other Resources in East Ore, Gallagher, NWW, 200S ore bodies, factored for dilution and mining recovery. 

(8) Other Resources diluted to minimum mining width of 2.0 meters for Hugh Zone, 1.5 meters for Andrea & Middle veins. 

(9) Other Resources diluted to minimum mining width of 6.0 feet for Bulldog. 

(10) Other Resources diluted to minimum mining width of 4.3 feet. 

(11) Other Resources diluted to minimum mining width of 5.0 feet. 

Cautionary Note Statements to Investors — The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this annual report, such as “resource,” “other resources,” and “mineralized materials” that the SEC guidelines strictly prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 10-K included with this report. 

