• Camino Rojo Cerro Quema

  • Value growth through development of low-risk, low capital intensity heap leach projects with strong exploration upside.

    Camino Rojo, Mexico

    • Oxide project currently in production, over 121,000 ounces produced in 2023 at $736/oz Au AISC3
    • Sulphide project: 7.3 Moz gold sulphide resource below the oxide resource; deeper potential for extension
    • 1.1 Moz total proven and probable reserve estimate (50.5 Mt at 0.73 g/t)1
    • 9.1 Moz total measured and indicate resource estimate (337.4 Mt at 0.84 g/t) 1
    • 2024 Guidance: 110,00 – 120,000 oz Au at $875 to $975/oz Au AISC3

    South Railroad Project, Nevada, USA

    • Low capital, high margin heap leach project analogous to Camino Rojo
    • Updated 2022 Feasibility Study: 8+ years mine life, ~152 koz annual production (first 4 years)
    • Total proven and probable gold reserves of 1.6 million ounces (65.2 Mt at 0.77 g/t)2
    • Significant resource growth opportunities in 21,000 Ha land package with multiple targets on the Carlin Trend
    • Contact Gold Acquisition: Pony Creek property consolidates landholdings adjacent to South Railroad (Announced on February 26, 2024)
      • Multiple drill-ready exploration targets on property and adjacent to claim boundary
      • Favourable geological and structural setting


    1. See “Unconstrained Feasibility Study NI 43-101 Technical Report on the Camino Rojo Gold Project – Municipality of Mazapil, Zacatecas, Mexico”, dated January 11, 2021 and “Summary of Mineral Reserve and Mineral Resource Estimates” in the Company’s Annual Information Form for the year ended December 31, 2023. Mineral resources are inclusive of mineral reserves.
    2. See Gold Standard’s NI 43-101 Technical Report titled “South Railroad Project, Form 43-101F1 Technical Report Feasibility Study, Elko County, Nevada” dated March 14, 2022 and an effective date of February 23, 2022.
    3. Total cash cost and AISC are non-GAAP measures and are net of silver credits and includes royalties payable.

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