The Title Page of the report does not include the effective date of the report. The report Title Page has a flaw by stating: Date: March 31, 2025 and Signing Date: March 31, 2025.

It is assumed that Date is the report Effective Date and this is in contradiction with the February 24th 2025 effective date in the report and on the Signature Page.

Historical Estimate

In the technical report with the effective date of Feb 24th 2025, earlier Mineral Resource Estimation from 2024 is not Historical Estimate as that term is defined in Part 1 section 1.1 of NI 43-101. The technical report of the Boumadine Polymetallic Project is misleading when stating that the 2024 MRE with an effective date of February 23, 2024 is a historical mineral resource estimate.

Qualified Person

One of the QP Certificate states:

I am a registered member of OIQ (Ordre des Ingénieurs du Québec), membership #5095334

I have worked as a Mining Engineer, Senior Mining Engineer or Project Manager continuously since my graduation from university. I have been employed since my graduation in 2003. I have gained relevant experience on deposits and projects similar to the Boumadine Project.

The date the QP obtained is engineering license was 2023-01-23. It is thus misleading that the QP states in his Certificate that he has worked as a Mining Engineer, Senior Mining Engineer or Project Manager since his graduation form university. In Canada, you can only work legally as a Mining Engineer after obtaining your engineering license. The QP Certificate should have stated that the QP has only a been working as a Mining Engineer for the past 25 months.

A QP is required experience in the mining industry (i.e., at least 5 years) must be gained after registration as an engineer.

More flaws have been identified in the technical report.