Reserves - Texas Silver

Texas Silver Inground Reserves

“Silver: The most undervalued asset on the planet.”

Andy Schectman Miles Franklin

Tenure Details

Texas Silver has a acquired the following tenements that make up the Texas Silver Project in Queensland.

Tenure ID	Project Name	Granted	Expiry
EPM 11455	Dumaresq	1/04/2023	31/03/2025
EPM 12858	Oakey Creek	10/08/2023	9/08/2025
EPM 18950	Texas South West	31/05/2021	30/05/2026
EPM 26275	Texas Silver	27/02/2022	26/02/2027
EPM2 7843	Macdonald	18/10/2021	17/10/2026
EPM 27844	Arcot	18/10/2021	17/10/2026
EPM 8854	Texas	8/07/2023	7/07/2025
ML 100106	Texas	1/10/2017	30/09/2037
ML5 932	Silver Spur	5/06/2016	30/06/2026

Thomson Resources Ltd. ASX Announcement of 1 March 2022

Extensive Drilling Program Completed

Through this acquisition, Texas Silver has secured comprehensive historical drill data and associated analysis from over 731 drilling sites, totalling a depth of 41,952 meters. This data, collected across multiple exploration programs, will be meticulously modelled to identify the best potential future exploration prospects.Many of the leases have been the subject of early stage, and advanced exploration. As such, over 20 areas of interest have been identified as containing indications of high grade silver and copper, with additional early indications of gold, lead and other metals on the critical minerals list that need to be investigated.

The JORC 2012 Mineral Resource Estimates (MREs) for the Silver Spur, Twin Hills, and Mt Gunyan deposits total an aggregate of 19.5 Moz AgEq at 54 g/t AgEq.

Reference ASX Announcement of 1 March 2022 Thomson Resources Ltd. – “19.5 Moz Silver Equivalent Indicated and Inferred Mineral Resource Estimate for the Texas Silver District.”

Drilling and Sampling

The majority of holes and meterage are from open hole percussion drilling, which may impact sample quality. Assay methods used include aqua regia digest with AA or ICP finish, which, while potentially partial, may be appropriate for heap leaching.

Grade Thresholds

Both models use a 20g/t Ag grade threshold for interpretation, though a high-grade domain at 40g/t Ag may have been used in 2016. The threshold being close to the cut-off grade may be inappropriate.

Vertical Model Extent

2016 - "Some 200 meters vertically from surface" 2022 - "Extending to 150 meters depth" but also mentions a "200 meters depth limit below surface," which is ambiguous.

A Glittering Opportunity!

Historical Production

Current JORC Resource

Asset Breakdown

Spotlight on Twin Hills

				Grade						Contained Metal
Texas District Deposits	Tonners (MT)	AgEq (g/t)	Ag (g/t)	Au (g/t)	Zn (%)	Pb (%)	Cu (%)	AgEq (Moz)	Ag (Moz)	Au (koz)	Zn (kt)	Zn (kt)	Cu (kt)
Twin HIlls ML 100106
Indicated	4.43	55	51	0.06	-	-	-	7.8	7.3	9	-	-	-
Inferred	1.67	45	42	0.05	-	-	-	2.4	2.2	3	-	-	-
Subtotal	6.10	52	48	0.06	-	-	-	10.3	9.5	11	-	-	-
Mount Gunyan ML 100106
Indicated	2.40	43	40	0.03	0.11	0.10	-	3.3	3.1	3	2.6	2.4	-
Inferred	2.09	39	36	0.04	0.12	0.17	-	2.6	2.4	3	2.4	3.6	-
Subtotal	4.5	41	38	0.04	0.11	0.13	-	5.9	5.5	5	5.0	5.9	-
Silver Spur ML
Indicated	0.19	184	65	0.6	2.40	0.92	0.09	1.1	0.4	< 1	4.6	1.8	0.2
Inferred	0.47	145	50	0.6	1.88	0.59	0.09	2.2	0.8	< 1	8.9	2.8	0.4
Subtotal	0.66	156	54	0.6	2.03	0.69	0.09	3.3	1.2	< 1	13.5	4.6	0.6
Total Indicated	7.02	54	48	0.05	0.10	0.06	0.00	12.2	10.8	12	7.2	4.2	0.2
Total Inferred	4.23	53	40	0.04	0.27	0.15	0.01	7.2	5.4	6	11.3	6.4	0.2
Texas District Total	11.26	54	45	0.04	0.16	0.09	0.01	19.5	16.2	16	18.5	10.5	0.6