Central Deposit

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Central Deposit Resources

The following table lists the Measured, Indicated and Inferred Mineral Resources for the Central Deposit. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

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Central Deposit Resources

Measured Resource

Million Tons

Zn%

Pb%

Cu%

Ag oz/ton

Au oz/ton

Mn%

LAG

38.98

0.1

0.2

0.02

1.1

0.003

0.4

MOX

37.14

1.6

1.0

0.06

2.1

0.003

6.6

Total

76.11

0.8

0.6

0.04

1.6

0.003

3.4

Indicated Resource

Million Tons

Zn%

Pb%

Cu%

Ag oz/ton

Au oz/ton

Mn%

LAG

51.50

0.1

0.2

0.02

1.0

0.002

0.5

MOX

54.07

1.6

0.9

0.05

1.2

0.002

5.0

Total

105.57

0.8

0.6

0.04

1.1

0.002

2.8

Measured & Indicated

Million Tons

Zn%

Pb%

Cu%

Ag oz/ton

Au oz/ton

Mn%

LAG

90.48

0.1

0.2

0.02

1.0

0.002

0.5

MOX

91.20

1.6

0.9

0.06

1.6

0.002

5.7

Total

181.68

0.8

0.6

0.04

1.3

0.002

3.1

Inferred

Million Tons

Zn%

Pb%

Cu%

Ag oz/ton

Au oz/ton

Mn%

LAG

28.85

0.1

0.2

0.02

0.9

0.003

0.6

MOX

16.30

1.7

1.1

0.06

1.1

0.001

3.8

Total

45.15

0.7

0.5

0.03

1.0

0.002

1.8

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Mineral Resources are stated as of October 22, 2016 (restated excluding Skarn zone which is included in the January 2014 PFS report).

LAG (Upper Silver Zone) stated at a cut-off grade of 0.55 oz/ton AgEq;
MOX (Manto Oxide Zone) stated at a cut-off grade of 0.40 oz/ton AgEq
Based on prices of $0.92/lb for zinc, $0.90/lb for lead, $27.06/oz for silver, $1,468/oz for gold, $0.82/lb for manganese and $3.54/lb for copper

Average processing recovery factors as follows:
LAG: 60% for silver and 90% for gold
MOX: 85% for silver, 90% for gold, 35% for manganese, 35% for zinc and 85% for copper
Numbers are rounded and may not match detailed tables.

Qualified Person

Scott Wilson, President of Metal Mining Consultants, is an independent qualified person as defined by National Instrument 43-101 and has approved and verified the information in this news release in relation to the Hermosa mineral reserve and mineral resource estimates. Mr. Wilson is a Certified Professional Geologist and member of the American Institute of Professional Geologists (CPG #10965) and a Registered Member (#4025107) of the Society of Mining, Metallurgy and Exploration, Inc., a professional association and designation recognized by the Canadian regulatory authorities.

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