So let's get a good update at Levac.

Levac is a, a busy mine.

There's a lot going on there.

It's great to see.

Uh, we've been hiring people.

We've been bringing in more contractors, building an excellent team out at Levac.

Right now, we're continuing development with one development crew per shift, so, you know, 24/7 development happening.

You have so many other properties that we just never have time to get to, and we still can't get to in this one, but are there any you want to flag that have interesting exploration work going on?

I- is there a hurdle rate or other, you know, gating factors beyond the economics that you need to reach to really bring home that PEA?

You know, I think that, uh, as far as the PEA, um, and I've said this many times and I'll keep reminding listeners, um, the PEA will be based on the resource that we released last fall for Lavac Mine, um, will not include the R2.

But right now, I would have to say, um, we are the most excited about the R2 over any other part of Lavac.

It is tremendous upside and, and potential.

And, um, you know, once we have the PEA out, um, I would expect that we'll continue to advance Lavac and, um, at that point we'll be able to, uh, you know, make a formal decision, um, either, you know, immediately after or sometime after that PEA comes out in September.

As far as that 2950 drift and, you know, the, what it will provide us for R2, um, as well as other exploration, I think it is, uh, extremely exciting.

It not only gets us within 300 meters or less from the R2 zone to drill more horizontal holes, so very good angles, um, closer holes, be able to get much more definition, which is really what that zone needs.

You know, given what you've heard over the last, you know, less than twenty-four hours since this was published, what are the expectations for the remainder of twenty twenty-six and what you've hear-- what you've heard overnight?

How should investors think about the opportunity and upside here? What is the path to bringing Levesque into production?

So Lavac is a mine that has operated for over 100 years.

It went on care and maintenance in 2019 under KGHM.

And when we acquired it, it was in that care and maintenance state.

But it was used as secondary egress for a neighboring Glencore mine.

So they would have access through our shaft if for some reason they couldn't move people through their shaft.

And because of that, because they were paying for that right to have that in place, the mine was kept in very good shape so people were going underground every day and the shaft was all inspected and ventilation and ground control work was being done so we took over a mine that was in a very good condition and it was stopped mining in 2019 because essentially kghm did not want to invest more capital into the mine it just was so non-core to them at that time So what we've done now is we have ramped up crews, we have got diamond drills underground, we have one development crew per shift, drilling and blasting, doing exploration development, developing a drift towards our two zone, this high-grade copper footwell discovery we made last year, which is really exciting.

together at the same time as opposed to stacking it? What made sense to do that and why is Crean Hill such an exciting opportunity for you guys? So

You spoke a little bit about your experience, your history, but if you can share a little bit more about the background that you have as well as the team that you have in place that sets you guys up for success.

Sure, so I moved to Sudbury in about 1999.

I went and worked for a company called Inco, which is one of the biggest mining company historically in Sudbury.

and worked as an underground supervisor at one of their mines.

Then about five years there before going to his junior startup called FNX Mining.

FNX had purchased five past producing mines from INCO.

It was the first time INCO had ever sold any mines in Sudbury.

When you think of your company, what do you compare yourself with? What's your market cap and what are your biggest comps and where do you think you should be valued?

Tell us about those.

Yeah, so Sudbury, because it was really controlled by two big mining companies, Inco and Falconbridge, for 100 years.

This camp has been active since 1885.

But these big, big companies, they mined really high grades and didn't really talk about it.

They just printed money and lived well for decades and decades and decades.

But they didn't have to go out and market to anyone.

They didn't have to tell anyone else about it.

Oh, nice.

Tell us about those.

Yeah, so Sudbury, because it was really controlled by two big mining companies, Inco and Falconbridge, for 100 years.

This camp has been active since 1885.

But these big, big companies, they mined really high grades and didn't really talk about it.

They just printed money and lived well for decades and decades and decades.

But they didn't have to go out and market to anyone.

They didn't have to tell anyone else about it.

Oh, nice.

Maybe let's unpack first how this deal came together, the terms and the relationship.

Yeah, Shad, this was an interesting deal.

We do site visits at our mines in Sudbury on a monthly basis.

I think we did actually three of them in June, three separate site visits.

So we're always bringing people up, showing them our operations.

One of our existing investors had a relationship through co-investing in the past with Alex Gubbins, who's the chairman of Alpayana.

And, you know, he thought he'd be a great person to come up.

So talk about both key economic studies coming up at both projects.

So monster grade here, what can you tell us about some of the latest interpretations of what's going on at this R2 footwall zone?

Yeah, the results we put out were by far our best grade times with intersections we've had in the R2.

And that's not by coincidence and chance.

It is because we're getting a better understanding of what these structures are doing.

And We believe that the R2 is very structurally controlled.

So much like our Morrison deposit at Lavac, studying that and how the different structures allow for thicker veins to develop and consistency and also the direction.

We will see veins changing direction sometimes by 90 degrees.

Is there any other property you'd like to highlight from all the different properties you have for exploration or development that you want people to maybe put in the back of their minds for next? Well, you know,

But talk to me about the continued drill program, this R2 zone, and really just how much potential it has to be even bigger or better for not only Levesque, but for the entire portfolio.

Yeah, the last assay results we put out last week from R2 are really exciting.

We sat down and really went through it with our exploration team when the assays were all back in, and we started kind of piecing it together, and they started showing me their interpretation.

Obviously, our team can't help themselves, but start to put together an internal resource and and some tons in grade just to kind of show where we're at.

I was very impressed and excited about it.

Our CEO, Jeff Hoffman, said, we just got to drive a drift into that and start mining it.

So it's exciting.

So give us a time frame of that and really what, I mean, again, I don't know if the market has expectations because it has just kind of been silent on it, right? But like what are your expectations for Creon Hill?

You know, with the first quarter wrapping up here, Jason, in 2026, and with that first full year under your tutelage, what was Q1 like for you? And do you see things kind of in fruition to get back and pushing these things forward the way you see fit?

Yeah, Q1 has been really, really good.

I've been really happy with the progress we've been making right on track.

A lot of things, you know, we talked about last time, getting out our guidance on McCready and our reserves for McCready, which was, you know, a big deal for us to get that in place after 2025 is really a setup year.

So now we're in, you know, with a Full team at MacReady lined up, I think, to execute a solid plan.

And, you know, at Le Vac, which really I would say is our flagship asset, things have been going really, really well.

Doing development currently underground, broke through to our 3600 level, connected up to Ballet's Coleman mine next door, which, you know, they funded that development so they could use our mine as secondary egress, but opens up tremendous amount of exploration potential and drilling platforms for us with that.

But at $1,900 platinum, $1,400 palladium, are those meaningful? Is that meaningful revenue for you guys at McCready if we just focus on McCready?

Walk us through the importance of connecting these two, the guidance and the reserves.

Yeah, so the guidance that we put out is based upon the budget that we put together last year.

It was actually done independent of the reserves, which were done by a third party, obviously with a bit of input from our team, but really the guidance was put independent.

Now, of course, they come out together at nearly the same time and So 2026, whether you look at our guidance or what we'll have in our technical study that supports those reserves, you know, will be filed in about six weeks.

You know, they're going to be very, very similar 2026.

Obviously, 2027, 2028, we have no nickel in our reserves, so that could change.

You know, I was quite pleased the way the reserves came together.

You know, how are things shaping up with that R2 zone and what's the importance of this?

And how is that kind of sitting right now? What kind of data or information are you getting?

Yeah, so the last thing we really completed at Crane Hill was a 20,000 ton surface bulk sample of our 109 foot wall zone.

And that bulk sample was processed through Glencore Strathcona Mill.

We wanted to get some baseline numbers on that.

So we have some optionality and look at, you know, can we improve precious metal recoveries from the terms we had? So that was accomplished.

We got some results back.

We were able to reconcile against the block model, understand dilution and things like that based on the resource.

Can you maybe just paint us a picture of what's going to be different with these operations in the new year?

Just let's revisit Levac, these new drill results, and really what the target area is at the mine.

Yeah, Trevor.

So the last Thursday we put out the second hole off of the, well, it was the second wedge, wedge two, off of the hole we announced back at the end of August.

And this was to test to the north, so about 40, 50 meters to the north of that really great intersection we had.

And again, just to refresh everyone listening, this is in an area we call the R2 or the Robs 2 zone.

It has a lot of similarities at Levac Mine to the Robs zone in the Morrison deposit that was discovered about 20 years ago.

and we've been following up on a hole we drilled last well we drilled the hole in last June we announced it in early July which intersected some really good grade nickel with some really good pgms up higher in the system followed up drill the hole our wedge one hole that was about 140 meters below you know had some spectacular results we announced at the end of August 29% copper with 53 grams precious metals over a meter along with a number of other really good copper PGM hits in that hole.

Not really specific, you know, ounces that were produced, but what can you share with us, you know, other than just kind of those headline numbers?