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Reserves and Resources

Mineral Reserves - Proven and Probable

  Contained Metal
Property Classification Tonnes
(000)
Ag
(g/t)
Au
(g/t)
Ag
(Moz)
Au
(koz)
San Jose Mine, Mexico Proven 282 237 1.84 2.1 16.7
  Probable 3,498 232 1.72 26.0 193.3
  Proven + Probable 3,780 232 1.73 28.2 209.9

Mineral Resources - Measured and Indicated

  Contained Metal
Property Classification Tonnes
(000)
Ag
(g/t)
Au
(g/t)
Ag
(Moz)
Au
(koz)
San Jose Mine, Mexico Measured 64 89 0.71 0.2 1.5
Indicated 780 84 0.72 2.1 18.1
Measured and Indicated 844 84 0.72 2.3 19.6

Mineral Resources - Inferred

  Contained Metal
Property Classification Tonnes
(000)
Ag
(g/t)
Au
(g/t)
Ag
(Moz)
Au
(koz)
San Jose Mine, Mexico Inferred 6,561 261 1.61 55.0 339.9

1. Mineral Reserves and Mineral Resources are as defined by CIM Definition Standards on Mineral Resources and Mineral Reserves
2. Mineral Resources are exclusive of Mineral Reserves
3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
4. There are no known legal, political, environmental, or other risks that could materially affect the potential development of the Mineral Resources or Mineral Reserves at San Jose
5. Mineral Resources and Mineral Reserves estimated as of June 30, 2015 and reported as of December 31, 2015 taking into account production-related depletion for the period through December 31, 2015.
6. Mineral Reserves for San Jose are estimated using a break-even cut-off grade of 137 Ag Eq g/t based on assumed metal prices of US$ 19/oz Ag and US$ 1,140/oz Au; estimated metallurgical recovery rates of 89% for Ag and 89% for Au and actual operating costs incurred in period June 2014 through May 2015. Mineral Resources are estimated at a Ag Eq cut-off grade of 100 g/t, with Ag Eq in g/t = Ag (g/t) + Au (g/t)* ((US$1,140/US$19) * (89/89))
7. Totals may not add due to rounding procedures



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