Legal - IDEX Metals

CAUTIONARY STATEMENT

The information on this website is in a summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not address the investment objectives, financial situation or needs of any particular investor.

Certain statements contained on this website constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to the Company, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward- looking information to vary from those described herein should one or more of these risks or uncertainties materialize.

Certain of the “risk factors” that could cause actual results to differ materially from the Company’s forward-looking statements include, without limitation, risks relating to the following: risks related to the receipt of all necessary third party approvals, including environmental approvals; changes in project parameters as plans continue to be refined; fluctuations in prices of commodities, including silver; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities; health and safety risks; climate change risks; risks related to potential opposition from non-governmental organizations and public interest groups; changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in the United States; reliance on management and dependence on key personnel; competition in the mining industry; risks related to international operations; fluctuations in foreign currency exchange rates; substantial capital requirements and liquidity; uninsurable risks; litigation; risks related to and uncertainty associated with general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; and other factors beyond the control of the Company.

Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included on this website is made as of the date of updating and the Company undertakes no obligation to publicly update or revise any forward- looking information, other than as required by applicable law.

This website is not and under no circumstances is to be construed as a prospectus, advertisement or public offering of any securities referred to herein, nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever. The contents of this website are not to be construed as legal, financial or tax advice.

The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States, unless an exemption from such registration is available, information concerning the assets and operations of the Company included on this website has been prepared in accordance with Canadian standards and is not comparable in all respects to similar information for United States companies.

TECHNICAL DISCLOSURE

David Hladky, IDEX’s Vice President, Exploration, is a “Qualified Person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and has reviewed and approved the use of the scientific, technical and historical information on this website.

This website includes technical information pertaining to the Freeze, Mineral Mountain and Amie Projects (the “Projects”) that was generated by the Company during several exploration programs during the 2021 to 2024 field seasons, as well as from historical exploration reports available through the Idaho Geological Survey. Exploration data produced by the Company, including mapping, rock and soil sampling locations and assay certificates, and geophysics, underlying the information or opinions on this website has been reviewed for accuracy and consistency, and is approved by the qualified person. This website also includes disclosure to certain historical exploration work conducted on the Projects by third parties. Historic information was generated prior to the introduction of NI 43- 101 standards, and details of sampling methods, security, assaying and quality control methods used in the generation of historical technical data are unknown to the Company and have not been verified by Mr. Hladky. The approximate locations of historical workings and samples were verified in maps and in the field and were shown to be accurate. While the historical analytical results could not be verified due to the lack of original certificates, confirmation sampling by the Company in the vicinity of historical sample locations revealed similar results. The Company believes that this information is relevant to guiding the Company’s exploration plans but it should not be relied upon for any other purpose. No technical report has been filed for any of the properties. There are no historical or current resource estimates for the Projects.

QA/QC PROCEDURES

Soil samples taken during the 2021 to 2024 field seasons were taken in grid form, along either 400 or 200 meter spaced lines at approximately 50 meter spacing where possible. These were taken using a spade or tree planting shovel, with the sample of the B horizon retrieved by hand from the base of a hole dug up to a depth of 50 cm. The sample was placed in a craft bag, and sealed with a zap-strap or flagging tape. Representative rock samples were taken at outcrops and of float where located, as well from historic mine dumps and workings where possible. These were placed in plastic sample bags, sealed with a zap-strap. All geochemical samples were located using a handheld GPS, bagged, sorted and securely stored at the project accommodation location, and shipped to the applicable lab facility as soon as appropriate, or at the end of each sampling program.

FREEZE

All samples taken during the 2023-24 programs were prepped and analyzed at MSALabs in Langley, British Columbia, an ISO 17025 and ISO 9001 certified laboratory, that is independent from the Company.

Soil samples were dried and screened to 180 micron mesh. Following preparation, assays were determined by the multi-element IMS-111 Ultra Trace method, where a 20 g sample is subject to a 1:1 aqua regia digestion, and the resulting solution is analyzed via ICP-MS and ICP-ES for 51 elements. Initial analysis by method IMS-117 was replaced by IMS-111 for additional elements. Lower detection limits for this procedure are 0.0005 ppm for gold, 0.01 for silver, 0.2 ppm for copper, 0.2 for lead, and 1 ppm for zinc.

Rock samples were dried and crushed to 2mm, from which a 250 g sub-sample split was then pulverized to 85% passing a 75 micron sieve. Following preparation, gold assays were determined by the FAS-111 method, where a 30 g sample was analyzed by fire assay with an AAS finish. Overlimit samples, greater than 10 g Au were analyzed by the FAS-415 gravimetric method. Multi-element assays were determined by the IMS-230 method, where 0.25 g aliquot of the prepared pulp was digested in a 4-acid solution. The resulting solution was analyzed via ultra trace ICP-MS and ICP-ES for 48 elements. Lower detection limits for this procedure are 0.01 ppm for silver, 0.5 ppm for lead, 2 ppm for zinc, and 0.2 ppm for copper. Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by procedures ICF-6Ag, ICF-6Cu, ICF-6Pb and ICF-6Zn. The thresholds were 100 ppm for Ag, and >1% for Cu, Pb and Zn.

In August, 2024 Dias Geophysical Limited of Vancouver, Canada, carried out a 3D DC-resistivity and induced polarization (DCIP) survey on the Freeze project. The program was carried out using the DIAS32 acquisition system on 200 m spaced lines running north-east to south-west, using the DIAS32 system in conjunction with one Dias GS500 25 kW transmitter. The DCIP survey was completed using a rolling distributed 3D array with a pole-dipole transmitted configuration. The survey covered an area of approximately 10 km2.

MINERAL MOUNTAIN

Analytical laboratories used by the company were MSALabs and ALS USA Inc. Samples submitted to MSALabs were prepared and analyzed in Langley, British Columbia. Samples submitted to ALS USA Inc. were received and prepared in Twin Falls, Idaho, followed by Fire Assaying in Reno, Nevada and then processed by multi-element analysis in North Vancouver, BC. Both MSALabs and ALS USA Inc. are ISO 17025 and ISO 9001 certified laboratories, that are independent from the Company.

Rock samples sent to ALS USA Inc. in 2023 were dried, crushed to 70% passing 2mm, from which a 250 g split was pulverized to 85% passing 75 micron mesh. Following preparation, the samples were subject to the ME-MS61 method for 48 elements by 4 acid digestion. Samples with the initial results beyond the upper detection limit, were then analyzed by ore-grade ME-OG62, Cu-OG62, Pb-OG62, and Zn-OG62 methods. The thresholds were 1.0 % for Cu, Pb and Zn, and 100 ppm for Ag. Analysis for gold was not uniformly conducted.

Rock samples sent to MSALabs in 2023-24 were dried, crushed to 70% passing 2 mm, from which a 250 g split was pulverized to 85% passing 75 micron mesh. Following preparation, multi-element analysis was conducted by the IMS-230 method, where a 0.25 g aliquote of the prepared pulp was digested in a 4-acid solution. The resulting solution was analyzed via ultra trace ICP-MS and ICP-ES for 48 elements. Samples with initial results beyond the upper detection limit of the IMS-230 method were analyzed by procedures ICF-6Ag, ICF-6Cu, ICF-6Pb, ICF-6Zn and ICF-6Ni. The thresholds were 100 ppm for Ag, and >1% for Cu, Pb, Zn and Ni. Preliminary silver assays that returned values >1,000 ppm were determined by fire assay with a 50 g charge for the final result. Analysis for gold was not uniformly conducted.

Soil samples sent to MSALabs in 2023 were prepared by method PRP-910 which involved being dried, crushed to 70% passing 2 mm, from which a 250 g split was pulverized to 85% passing 75 microns. Following preparation, multi-element analysis was conducted by the IMS-131 method, where a 20 gram sample is subject to true aqua regia digestion, followed by ICP-EAS/MS. Samples with initial results greater than the upper detection limits were analyzed by procedures ICF-6Ag, ICF-6Cu, ICF-6Pb and ICF-6Zn, the thresholds of which are detailed in the paragraph above. Fire assay analysis for Au was not performed however negligible Au values were observed as part of the multi-element analysis.

Soil samples sent to MSALabs in 2024 were prepared by method PRP-757 which involved being dried, with screening of 500g to 80 mesh. Following preparation, ultra-trace multi-element analysis was conducted by the IMS-111 method, where a 20 g sample is subject to dilute aqua regia digestion, followed by a ICP-MS finish. Samples with initial results greater than the upper detection limits were analyzed by procedures ICF-6Cu, ICF-6Pb and ICF-6Zn, the thresholds of which are detailed in the paragraph above. Fire assay analysis for Au was not performed however negligible Au values were observed as part of the multi-element analysis.

Soil samples sent to ALS USA were prepared by method PRE-41 which involved being dried, sieved to -180 micron (80 mesh) from which multi-element analysis was conducted by the 48 element ME-MS61 method, which consisted of a 20 g fine split is subject to 4-Acid digestion, followed by analysis by ICP-MS. Samples with initial results greater than the upper limits of this method were analyzed by Ore-Grade procedures for Cu, Pb and Zn. Au values were not part of this method.

AMIE

Rocks samples submitted to ALS USA Inc. in 2021 were dried, crushed to 70% passing 2mm, from which a 250 g split was pulverized to 85% passing 75 microns. Following preparation, for gold analysis the samples were subject to the Au-AA23 method consisting of a 30 g Fire Assay with AA finish. Multi-element analysis consisted of the 35 element ME-ICP41 method by Aqua Regia and ICP-AES. For silver samples with initial results over the 100 g detection limit, a 30 g sample was analyzed by the Ag-OG46 ore-grade aqua regia method. For those samples with results over 1,500 g silver, samples were further evaluated by the Ag-GRA21 gravimetric method. Other samples with initial results beyond the upper detection limit, were analyzed by the ore-grade Pb-OG46, Zn-OG46 methods. The thresholds were 1.0 % for Pb and Zn.

Rocks samples submitted to ALS USA Inc. in 2023 were dried, crushed to 70% passing 2mm, from which a 250 g split was pulverized to 85% passing 75 microns. Soil samples dried and sieved to 250 g passing 180 microns. Following preparation, for gold analysis the samples were subject to the Au-ICP21 method of 30 g gold by Fire Assay with ICP-AES Finish. Multi-element analysis consisted of the ME-MS61 method for 48 elements by 4 acid digestion. Samples with the initial results beyond the upper detection limit, were then analyzed by ore-grade ME-OG62, Ag-OG62, Cu-OG62, Pb-OG62, and Zn-OG62 methods. The thresholds were 1.0 % for Cu, Pb and Zn, and 100 ppm for Ag.

Rock samples submitted to MSALabs for aqua regia analysis in 2022 were dried, crushed to 70% passing 2 mm, from which a 250 g split was pulverized to 85% passing 75 micron mesh. Following preparation, samples were analyzed by the IMS-117 method, whereby a 20 g sample was subject to digestion by 1:1 Aqua Regia, followed by 39 element Ultra-Trace Level ICP-AES/MS. Initial gold results beyond the 25 g upper detection limit of the IMS-117 method for gold were analyzed by fire assay, 30 g fusion gravimetric method FAS-415. Samples with other initial results beyond the upper detection limit, were analyzed by 0.2 g ore-grade 4-acid, ICP-AES methods of ICF-6Ag, ICF-6As, ICF-6Pb. The thresholds were 1.0% for As and Pb, and 100 ppm for Ag.

Soil samples sent to ALS USA in 2023 were prepared by method PRE-41 which involved being dried, sieved to -180 micron (80 mesh) from which multi-element analysis was conducted by the 48 element ME-MS61 method, which consisted of a 20 g fine split is subject to 4-Acid digestion, followed by analysis by ICP-MS. Samples with initial results greater than the upper limits of this method were analyzed by Ore-Grade procedures for Cu, Pb and Zn. Au values were obtained by the 30 g Fire Assay method with ICP-AES Finish.

QUALITY CONTROL

In earlier programs, the Company relied upon the internal quality control provided by the laboratories. Whereby both MSA Labs and ALS USA employ internal quality control standards, duplicates and blank samples at set frequencies. These quality control samples are checked internally for consistency prior to the lab releasing the finalized assays, and are provided in the certificates and have been reviewed by the Qualified Person.

For samples taken during the 2023-24 programs, 5 blind certified reference materials (CRMs) and 1 blank sample were systematically inserted by the Company into the sample stream, on the order of one standard or blank per ten samples (1:10). These samples were analyzed in sequence with the Company’s samples, and the results were reviewed as part of the Company’s quality assurance/quality control protocol. This entailed reviewing and graphing the assay results and comparing them to the certified values. Where the received value for the standard was more than 2 standard deviations outside the certified value, the sample was flagged and reviewed for potential issues or re-analysis. By and large, all the sample standards fell within acceptable ranges, indicating that the Company’s analytical results could be relied upon, and where potential extraneous values were observed, were considered to be too low to be of consequence.