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Produced by Resource Media

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The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

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RESOURCES

LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast

YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7

Website: https://theholetruth.podbean.com

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INSIGHTS FROM THE EPISODE

• Firetail Resources secures high-grade gold projects in Nevada and South Dakota— both with strong historical data and underappreciated potential due to limited market support in North America.

• Excelsior Project in Nevadadelivers standout drill results (e.g. 33m @ 5g/t, 50m @ 4g/t) with shallow mineralisation and potential for rapid JORC resource definition by year-end.

• Bella Project in South Dakotalies along the same trend as the world-class Homestake deposit (42Moz @ 8.5g/t), with early signs of significant gold mineralisation across multiple high-grade trends.

• Firetail’s technical leadershipincludes veterans from Northern Star, Bellevue, and Spartan — bringing a proven track record in brownfields gold exploration and rapid project advancement.

• Strategic pivot to North Americareflects a broader ASX trend of junior explorers capitalising on undervalued gold and copper assets across the US and Canada.

Ausgold (ASX: AUC) has just tabled the DFS on its Katanning Gold Project in WA. The study shows the project will generate very strong financial returns and the resource has strong scope to continue growing the inventory and mine life.

John Dorward has over 25 years of experience in the mining and finance industries. Mr Dorward was the CEO of TSX-listed gold producer Roxgold Inc. from 2012 to 2021, where he led the construction of the Yaramoko Gold Mine in Burkina Faso from maiden resource through to production, before Roxgold was acquired by Fortuna Silver Mines Inc. in 2021 for US$884 million.

Mr Dorward’s earlier roles include Vice President of Business Development at Fronteer Gold, a TSX and AMEX-listed mining company with gold and uranium projects in USA, Canada and Turkey, where he was instrumental in negotiating its acquisition by Newmont Mining Corporation for $2.3 billion in 2011.

Mr Dorward also previously served as CFO of ASX and TSX-listed gold company Mineral Deposits Limited and ASX-listed gold producer Leviathan Resources Limited, and was a senior executive with ASX-listed gold and nickel producer MPI Mines Limited.

He is currently a non-executive director Surge Copper Corporation and Taura Gold.

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Produced by Resource Media

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The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

RESOURCES

LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast

YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7

Website: https://theholetruth.podbean.com

Silver is hot and Andean Silver (ASX: ASL) is one of the few ASX listed companies offering substantial exposure to the metal. The company already has a sizable resource and drilling results show that it is poised for substantial growth. This is against a backdrop of extensive M&A action in the silver space and more-and-more of the North American institutions are coming on the Andean register.

Tim Laneyrie, Chief executive Officer at Andean Silver is a geologist with 19 years’ industry experience. His most recent position was in business development at Northern Star (ASX:NSE), where he conducted evaluations on potential project acquisitions and asset divestments, notably the Saracen/Northern Star merger and Super Pit acquisition. He has also held senior positions with Saracen Minerals.

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INSIGHTS FROM THE EPISODE:

• Significant Resource Growth and Drilling Success Since acquiring the Cerro Bayo project 18 months ago, Andean has grown its silver equivalent resource by 340%, reaching 111Moz. Ongoing drilling, including brownfields and new vein discoveries, points to substantial upside and continuous growth potential.

• North American Interest and M&A Potential There's growing corporate interest from North American silver companies looking to acquire permitted assets with infrastructure. Andean is on their radar, with major institutions increasingly taking positions on the register and building internal valuation models.

• Undervalued Relative to Global Peers Andean believes its current market cap (~A$165M) significantly undervalues the resource. Applying average North American deal metrics (~US$1.50–$14/oz), the project could justify a valuation of ~$340M+, especially considering its existing mill and permits.

• Silver and Gold Combo Driving Appeal The project contains both silver (47Moz) and gold (nearly 800koz), making it a highly attractive dual-commodity asset at a time when both metals are performing strongly. Analysts have set target prices near $3/share, nearly triple the current share price.

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RESOURCES

LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast

YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7

Website: https://theholetruth.podbean.com

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Produced by Resource Media

----

The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.