Understood Mineral Resources Ltd.

Understood Mineral Resources Ltd. (UMR) provides high-quality, reliable, and auditable mineral resource models to mining companies of all sizes. UMR features current and previous students of the Centre for Computational Geostatistics at the University of Alberta and registered professional geologists. Our academic training gives us the unique skills to generate probabilistic resource modelling products in conjunction with more conventional techniques such as ordinary kriging. This blend of innovation and practicality allows us to deliver resource estimates that are both technically robust and adaptable to a range of project stages. UMR’s collective industry experience spans diverse commodities and geological environments, including: • Cu-Au-Ag porphyry systems • High- and low-sulphidation Au-Ag vein systems • Bulk-tonnage gold systems • Base metal and PGE deposits • Volcanogenic massive sulphide (VMS) deposits • Graphite deposits • Unconformity-hosted uranium We believe this industry experience positions us well to take on the technical challenges that exist within the industry. Our core services include (but are not limited to): • Preparation of NI 43-101, JORC (2012), and S-K 1300 (2019) reports for Mineral Resource disclosure • Geologic interpretation and 3D modelling • Deterministic resource modelling (e.g., kriging) • Conditional simulation for uncertainty assessment • Stochastic drill hole spacing studies • Custom geostatistical workflow development for site-specific models (short- and long-term) • Independent technical reviews of mineral resources • Mentoring and training programs for geologists • Process development and handover support for advanced-stage projects and operating mines As UMR grows, so too will our offerings. We are committed to evolving with the needs of the industry while maintaining the highest standards of technical excellence.