Mt York Breaks 2Moz, But the Real Growth Is Still Ahead

Key Concepts

• Mineral Resource Estimate (MRE): A concentration of minerals in the earth's crust that can be economically extracted.
• Grade: The concentration of gold within the ore, measured here in grams per ton (g/t).
• Footwall and Hanging Wall: Geological terms referring to the rock mass below and above an inclined ore body, respectively.
• Wireframing: A 3D modeling process used to define the geometry of mineralized zones for resource estimation.
• Pre-Feasibility Study (PFS): A comprehensive study of the viability of a mineral project.

Resource Milestone and Growth

Kyros Minerals has reached a significant milestone at the Mount York project, reporting a total resource of 2.1 million ounces of gold.

• Current Statistics: 61.7 million tons at a grade of 1.05 g/t.
• Growth Metrics: This represents a 697,000-ounce increase (a 50% growth) compared to the 2023 resource estimate.
• Historical Context: Since the project's acquisition in 2016, when the resource stood at 123,000 ounces, the company has consistently expanded the deposit through aggressive drilling.

Drilling Strategy and Methodology

The recent resource increase is attributed to the drilling campaign completed throughout 2025. The company emphasizes a "drill-first" philosophy:

• Future Plans: Kyros has committed to an additional 50,000 meters of drilling in the current year.
• Methodology: By increasing drilling density, the company has improved its understanding of the deposit's geometry. This has allowed for precise "wireframing" of high-grade zones located on the footwall and hanging wall, which are now treated separately in the resource estimation process.
• Grade Improvement: The resource grade has seen a 5% increase compared to 2023, driven by the discovery of higher-grade mineralization during the 2025 campaign.

Economic and Strategic Outlook

The company argues that the current 2.1 million-ounce figure is not the ceiling for the Mount York deposit.

• Economic Benefits: The identification of higher-grade components is expected to improve the project's future economics during potential mining operations.
• Prioritization: Kyros Minerals maintains that growing the resource size takes precedence over the immediate completion of Pre-Feasibility (PFS) or Definitive Feasibility Studies (DFS). While the PFS is ongoing in the background, the company’s primary focus remains on testing the scale of the gold system through large-scale drilling.
• Management Perspective: The company views Mount York as a "large gold system" and intends to continue its aggressive exploration strategy to reach the deposit's "true potential."

Conclusion

The announcement of 2.1 million ounces marks a successful validation of Kyros Minerals' exploration strategy. By prioritizing high-density drilling and sophisticated geological modeling, the company has successfully increased both the volume and the grade of the Mount York resource. The commitment to a further 50,000 meters of drilling underscores the company's confidence that the deposit remains open for significant expansion.