Nicaragua

Group of miners ready to go to the site.

Quick Facts

Ownership: 100%

Location: Nicaragua

Status: In Operation

Commodity: Gold

Mining Method: Underground and Artisanal Mining

Energy Source: Hydroelectric Power

Technical Report:

Reserves and Resources:

Hemco Property

Two operations in one: Panama, Pioneer 100% owned underground mines and third-party ore.

Two underground operations are located near the town of Bonanza in the Golden Triangle of Nicaragua, 230 km northeast of Managua, Nicaragua
Three processing plants — Hemco, Vesmisa, and La Curva — have a combined capacity of 2,000 tonnes per day
Process plant expansions, together with innovative agreements with artisanal miners, have increased annual gold production from 65,000 ounces in 2013 to 126,000 ounces in 2023
165.5k hectare land package includes deposits with mineral resource estimates (Leticia and San Antonio) and great targets (Guillermina & Bambanita)
We have growth potential in the medium term with the Porvenir, Luna Roja and Caribe projects. Porvenir is estimated to start operations in 2027, adding an annual production of 44,00 ounces of gold, 89,000 ounces of silver, and 28 million pounds of Zinc, extending the mine life to 13 years.

Gold Production and per Ounce Gold Sold Graphs

2018 to 2024E Au Production (koz Au)¹

2018 to 2024E AISC per oz of Au Sold²

Graph Notes:

Approximately 30% of 2024 Guidance is attributable to underground production and 70% attributable to production from mineralized material purchased from artisanal miners.
AISC per ounce of gold sold is a non-IFRS ratio, with no standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other publicly listed gold producers. For further information, including reconciliations to the nearest IFRS measures, see “Non-IFRS Measures” in the MD&A for the applicable year.

Nicaragua: Artisanal Miners & Co-Op

Mineros is committed to the community and the country of Nicaragua.

The Bonanza Model

The model currently comprises approximately 6,000 miners associated with 1,578 collectives (groups of 3 or 4 people).

Bonanza Model Strategy Pillars

The collective groups and co-ops are regulated by Municipal Commission of Artisanal Mining (CMMA).

Responsible Mining with the Environment.
Mining with Safe, Reliable & Competitive Practices.
Mining with Certifiable Resources & Processes.
Efficient & Profitable Mining Production.
Legal & Organizational Stability.
Coexistence Mining with the Surrounding Industries.
Mining that Promotes Economic & Social Growth.

Qualified Person

The scientific and technical information relating to Mineros’ properties contained on this website have been reviewed and approved by Luis Fernando Ferreira de Oliveira, MAusIMM CP (Geo), Mineral Resources and Reserves Manager for Mineros S.A., who is a qualified person within the meaning of NI 43-101.

Technical disclosure regarding the Hemco Property, including references to mineral resources and mineral reserves, is supported by the NI 43-101 compliant Technical Report entitled “Technical Report on the Hemco Property, Región Autónoma de la Costa Caribe Norte, Nicaragua”, with an effective date of December 31, 2022, prepared by or under the supervision of Sean Horan, P.Geo. Principal Geologist and Geostatistician, SLR Consulting (Canada) Ltd; Varun Bhundhoo, ing. Project Mining Engineer SLR Consulting (Canada) Ltd; R. Dennis Bergen, P.Eng., and Brenna J.Y. Scholey, P.Eng., both of SLR Consulting (Canada) Ltd; and Gerd Wiatzka, P.Eng. Consulting Civil/Environmental Engineer Principal, Vice President, and Director Mining of Arcadis Canada Inc.

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