Mahvie Minerals (MAHVIE) Investor update summary

Haveri mineral resource

• JORC-compliant Inferred Resource: 1.5 Mt at 2.4 g/t gold and 117 koz, at a 1.0 g/t cut-off; based on an optimized mine plan.

• Conservative assumptions include a gold price of $2,950/oz and 77% metallurgical recovery based on historical data; modern processing methods may improve recoveries.

• Technical studies indicate potential for profitable underground mining.

Exploration targets

• Three conceptual targets total 6.0–9.1 Mt at 1.4–3.0 g/t gold, representing 340–729 koz; these are additional to the reported resource.

• Targets comprise Haveri Södra, 1.1–1.7 Mt at 1.4–3.9 g/t; adjacent Haveri, 3.9–5.9 Mt at 1.4–2.7 g/t; and Peltosaari, 1.0–1.5 Mt at 1.4–3.2 g/t.

• Estimates rely mainly on historical data not verified to modern international standards; insufficient exploration has been completed to define resources, and further work may not do so.

Development plans

• Planned next steps include targeted drilling within the existing resource to improve knowledge and upgrade its classification.

• Planned metallurgical testing, environmental work and process studies aim to further optimize project economics.