Nexa Resources S.A. provided the drilling and assay results from the first quarter of 2024. Nexa?s updated Mineral Exploration program for 2024 comprises a total of 69,200 meters of exploration drilling, of which 25,800 meters are planned for Brazil (37%), 40,400 meters for Peru (58%), and the remaining 3,000 meters for Namibia (5%). The increase in the size of the program from the previously informed 66,050 meters total planned drilling for 2024 is due to meterage price adjustments within the new drilling contracts in respect of Cerro Lindo and Vazante.

A total of 9,951 meters of exploration drilling were executed in the first quarter of 2024 through 10 operating drill rigs. As in years past, drilling activity is lower during the first quarter due to the rainfall season in Brazil and Peru and corresponding delays in drilling contractors? mobilization.

The company expects an increase in drilling activities starting in 2Q24 onwards. In Peru, 9,714 meters were drilled in 1Q24 with eight rigs. At the Pasco Complex, exploration activities continued to focus on the extensions of known satellite bodies, such as Integración at El Porvenir highlighted by high-grade new intersections.

At Cerro Lindo, drilling focused on the Pucasalla and Patahuasi Millay targets, and at the mine site, on the expansion underground ore bodies at OB-8B, OB-9 and OB-6A. The main target for the Hilarión and Florida Canyon projects in 2024 is to consolidate the geological information to define the project strategy for the following years. For 2024, the company have only scheduled environmental monitoring and road maintenance activities.

In Brazil, 237 meters of exploration drilling were carried out in 1Q24 with 2 rigs at Vazante. At Aripuanã, no drilling was carried out in 1Q24; however, exploration drilling will resume in 2Q24 at the Massaranduba target. In Namibia, no drilling was carried out in 1Q24.

Exploration drilling will resume in 2Q24, focusing on exploratory targets at the Namibia North project to investigate potential areas with copper soil anomalies in favorable geology. At Aripuanã, pending drilling results from 4Q23 at Babaçu confirmed thick intersections with high-grade results, such as holes BRAPD000202 and BRAPD000222 presenting 20.0 meters grading 12.24% Zn, 4.03% Pb and 109.36 g/t Ag, and 42.7 meters grading 5.20% Zn, 2.19% Pb and 38.75 g/t Ag, respectively. In 1Q24, a total of 6,326 meters of exploration drilling and 12,154 meters of mining infill drilling were executed.

Exploration drilling activities were behind schedule due to the usual heavy rainfalls at the mine site and operational drilling issues. The updated drilling program for Cerro Lindo in 2024 is set at 21,400 meters, a reduction from the previously announced 23,100 meters, due to adjustments in meterage prices within the new drilling contracts. The exploration program primarily focused on extending the mineralization of near mine targets known as OB-8B, OB-9 and OB-6A, as well as drilling to identify new mineralized zones in the Pucasalla target and its extensions.

Furthermore, the company continue to drill the geophysical anomaly of the Patahuasi Millay target to explore potential mineralized zones. The results obtained during the first quarter confirm the continuity of mineralization in the OB-8 orebody, such as the 7.2-meter interval with 3.99% Zn, 0.65% Pb, 0.08% Cu, 43.40 g/t Ag and 0.09 g/t Au and 5.1 meters with 1.61% Zn, 0.56% Pb, 0.03% Cu and 16.91 g/t Ag. Drill holes at the Pucasalla target and extensions identified the presence of sulfide zones but without significant results during 1Q24.

At the end of the quarter, drill holes PECLD07288 and PECLD07343 of the Patahuasi Millay target were still in progress, remaining far from the target forecast. For 2Q24, its plans include continuing the investigating of the Patahuasi Millay target with two drill rigs (totaling 2,729 meters) and starting drilling at the Puca Punta target, located 4 kilometers to the northwest of Cerro Lindo, with one drill rig (1,300 meters). In addition, the company aim to extend drilling activities at orebodies OB-9 (1,640 meters), OB-6A (400 meters), and OB-8B (1,540 meters), with three additional rigs.

The total drilling planned for 2Q24 amounts to 7,609 meters. its brownfield exploration efforts at Vazante are directed towards expanding existing mineralized zones and exploring new areas to define additional mineralized zones near the mine. In 1Q24, a total of 10,279 meters of mining infill drilling (two rigs), and 237 meters of exploration drilling (two rigs) were completed in the Sucuri area.

The updated drilling program for Vazante in 2024 is set at 14,200 meters, representing an increase from the previously announced 12,350 meters, which is attributed to meterage price adjustments within the new drilling contracts. The exploration drilling program began in March 2024, totaling 237 meters in 1Q24, which was behind schedule due to the postponement of the drilling campaign. Currently, two drill holes are in progress (BRBVMVD000021 and BRBVZEND000066) in the Sucuri area and are expected to be completed in 2Q24.

In 2Q24, the drilling program will continue to focus on the extensions of mineralized bodies in the Extremo Norte area, with 3,600 meters of drilling planned with two rigs.   In 1Q24, a total of 9,730 meters of mining infill drilling were executed with four rigs. No exploration drilling was carried out during 1Q24 due to the usual heavy rainfalls in the region.

The exploration drilling has been rescheduled for 2Q24. The assay results that were pending from the Babaçu Infill drilling program in 4Q23 confirmed the continuity of mineralization with high polymetallic content, such as holes BRAPD000202 and BRAPD000222 presenting 20.0 meters with 12.24% Zn, 4.03% Pb and 109.36 g/t Ag, and 42.7 meters with 5.20% Zn, 2.19% Pb and 38.75 g/t Ag, respectively. The exploration drilling efforts were primarily focused on extending the existing satellites?

mineralized bodies along strike and at depth, as well as conducting exploration drilling on the Integración mineralized zone. In 1Q24, a total of 3,389 meters of exploratory underground drilling and 4,746 meters of mining infill drilling were executed. A total of 3,300 meters were drilled at the Integración Sur orebody with one rig, while 1,443 meters were drilled at the Porv9, VAM and Don Lucho targets using one rig.

Drilling results obtained during 1Q24 confirmed the continuity of high-grade mineralization at the Integración target, as evidenced by drill hole PEEPD02703 with 6.1 meters grading 12.23% Zn, 8.25% Pb, 0.40% Cu, 132.84 g/t Ag and 5.78 g/t Au. The drilling program also confirmed the extent of mineralization at the Porv9, VAM, and Don Lucho targets, located in the upper portion of the mine above level 3,730, with results such as hole PEEPD02704 with 5.6 meters grading 2.25% Zn, 0.03% Pb, 0.15% Cu, 23.12 g/t Ag and 0.22 g/t Au.