Lipari Mining Ltd. Announces Amendments to NI 43-101 Mineral Resource Report for the Tchitengo Project, Angola

Executive Summary

• Lipari Mining filed an amended and restated NI 43‑101 Technical Report for the Tchiuzo Kimberlite, confirming Reasonable Prospects for Eventual Economic Extraction (RPEEE).
• The updated resource estimate now includes 28.79 million tonnes of Indicated resources containing 13.60 million carats and 6.47 million tonnes of Inferred resources containing 1.99 million carats, constrained by a pit‑shell model using a $100/ct diamond price.
• New Qualified Persons (Carlos Guzmán) were added, and the report was revised to address OSC comments and Form 43‑101F1 requirements.

Key Details

• Amended Report Date: October 31 2025 (effective date October 29 2024); replaces June 17 2025 filing.
• Reason for Amendment: Clarify technical disclosures per NI 43‑101 and OSC review; add RPEEE determination, new Qualified Person, and additional sections (title page, signature page, table of contents).
• RPEEE Determination: Resource meets CIM Definition Standards for Reasonable Prospects for Eventual Economic Extraction.
• Qualified Persons: Carlos Guzmán (NCL Ingeniería Y, Construcción SPA) – added; Sean Duggan – block modeling; Martin Doyle, P.Geo. (Falmar Ltd.) – author and reviewer.
• Resource Estimate (Pit‑Shell Constrained):

Indicated
- TKB: 13,215,774 t @ 48.7 cpht → 6,434,374 carats
- TK: 15,574,869 t @ 46.0 cpht → 7,163,857 carats
- Total Indicated: 28,790,642 t @ 47.2 cpht → 13,598,231 carats

Inferred
- TKB: 169,513 t @ 39.9 cpht → 67,613 carats
- TK: 1,583,630 t @ 36.0 cpht → 570,107 carats
- SAPR: 1,486,620 t @ 54.0 cpht → 802,775 carats
- OVB: 940,795 t @ 24.0 cpht → 225,791 carats
- BVRS: 2,285,546 t @ 14.0 cpht → 319,976 carats
- Total Inferred: 6,466,103 t @ 30.7 cpht → 1,986,261 carats

• Economic Assumptions (Whittle™ Model):
• Diamond price: US$100 per carat
• Mining cost: $3.70/t
• Processing cost: $6.79/t (98% recovery)
• G&A cost: $2.94/t
• Government royalty: 5%
• Cut‑off grade: 10.45 cpht

• Pit slope angles: 38°–41°

• Technical Disclosure Additions: New title page, signature page, table of contents; expanded summary on Phase I confirmatory drilling and adjacent properties.

• Contact: Kenneth Johnson, President & CEO ([email protected]).

Notable Quotes

(No direct quotes were provided in the release.)