Resource Report for Spain's Toral Mine Officially Submitted

en.Wedoany.com Reported - On October 23, Canadian mining company Denarius Metals announced that it has officially filed the NI 43-101 technical report for its Toral lead-zinc-silver project in Spain with SEDAR+, Canada's securities disclosure platform, confirming an inferred mineral resource of 14.76 million tonnes grading an average of 4.00% zinc, 2.77% lead, and 20.37 g/t silver. The report was prepared by Resource Development Associates, with a resource estimate effective date of July 24, 2026. The project is located in León Province, Castilla y León, Spain, and is wholly owned by Denarius Metals.

The report estimates that the Toral deposit contains approximately 590,400 tonnes of zinc metal, approximately 408,900 tonnes of lead metal, and 9.6665 million ounces of silver, with an average zinc-equivalent grade of 6.58%. All resources are classified as inferred, and the mineralized body remains open along the southeast strike and at depth. The company plans to conduct follow-up infill drilling to increase the geological confidence of the resource estimate and provide a basis for mine development option studies.

The technical report is based on underground mining and examines on-site ore crushing, X-ray transmission sorting, grinding, and dual-circuit flotation processes. The preliminary processing scheme employs ore pre-sorting, which is expected to reject approximately 45% of the feed mass. Under the technical and economic assumptions adopted in the report, mining costs are US$36.30/t, effective processing costs after sorting are US$18.33/t, and general and administrative costs are US$6.28/t. The resource estimate uses a net smelter return cut-off value of US$61/t.

The technical report filed provides formal technical support for the Toral project mineral resource estimate first announced by the company on September 9. The company previously also announced that it has obtained a preferential option to apply for approximately 800 hectares of adjacent mineral rights west of Toral, intending to expand its exploration footprint in the León mining district. The above mineral rights arrangement and the resource technical report pertain to mineral rights expansion and resource disclosure matters, respectively.