Stage: Exploration

Company Description: ADAMAS MINING was established in 2001 in Mongolia and has successfully undertaken exploration and the development of mineral deposits throughout the country. Over the last 20 years, the company has achieved notable successes with its team, conducting detailed exploration of minerals across over 200 projects, including coal, rare earths, gold, silver, polymetallics, and uranium.

Deposit Location: Located 365 km east of Ulaanbaatar. It is situated in the Bayankhutag sub-province of Khentii province, Mongolia.

License Area: Bayankhutag sub-province of Khentii province.

Deposit Type: Skarn and metasomatic replacement bodies in terrigenous-carbonate rocks.

Target Commodity:

• Zinc (Zn), Lead (Pb), and Silver (Ag) are the main economic metals.
• Cadmium (Cd) and Copper (Cu) are accessory metals.

Ore Resource: 6,371,500 tonnes.

Average Grade: The orebodies have grades ranging from 1.6% to 3.4% Zn, 0.5% to 2.0% Pb, and 16 g/t to 60 g/t Ag. The calculated average grade for the total resource is approximately 2.06% Zn, 1.06% Pb, and 25.5 g/t Ag.

Contained Metal:

• 131,415.8 tonnes Zn
• 67,314.7 tonnes Pb, 163.1 tonnes Ag
• 593.4 tonnes Cd

Work Completed: Completed work includes 5,887.6 meters of drilling, 1,285.31 meters of underground development, 917.3 meters of trenching, and a preliminary pilot-scale test.

Drill Results: The exploration drilling campaign of 5,887.6 meters successfully defined 6 orebodies.