Summary of Mineral Reserves and Resources

Proven and Probable Mineral Reserves as of December 31, 2019

TUCANO PROVEN
Property Tonnage
(000t) 
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Open Pit 754 1.84 45
Underground 189 3.78 23
Surface Stockpiles 2,391 0.72 55
TUCANO PROBABLE
Property Tonnage
(000t) 
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Open Pit 3,196 2.21 227
Underground 1,976 4.17 265
Surface Stockpiles   -    -  0
TUCANO P&P
Property Tonnage
(000t) 
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Open Pit 3,950 2.14 272
Underground 2,164 4.13 288
Surface Stockpiles 2,391 0.72 55
Total P&P 8,506 2.25 615

Measured and Indicated Mineral Resources (Mineral Resources are inclusive of Mineral Reserves) as of December 31, 2019

MEASURED
Property Tonnage
(000t)
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Grade
(Ag g/t)
Contained Metal
(000 oz Ag)
Grade
(Pb %)
Contained Metal
(000 lbs Pb)
Grade
(Zn %)
Contained Metal
(000 lbs Zn)
Grade
(Cu %)
Contained Metal
(000 lbs Cu)
Grade
(Aueq g/t)
Contained Metal
(000 oz Aueq)
Tucano 4,879 0.90 141   -     -     -     -     -     -     -     -   0.90 141
Topia 273 1.36 12 474 4,154 4.02 24,155 4.20 25,237   -     -   12.42 109
San Ignacio 260 3.06 26 156 1,305   -     -     -     -     -     -   5.01 42
Guanajuato 253 1.72 14 206 1,677   -     -     -     -     -     -   4.28 35
Coricancha 404 5.90 77 210 2,729 2.16 19,248 3.43 30,565 0.54 4,812 13.56 176
El Horcon   -     -     -     -     -     -     -     -     -     -     -     -     -  
Total Measured 6,069   269   9,865   43,404   55,802   4,812 2.58 503
                           
INDICATED
Property Tonnage
(000t)
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Grade
(Ag g/t)
Contained Metal
(000 oz Ag)
Grade
(Pb %)
Contained Metal
(000 lbs Pb)
Grade
(Zn %)
Contained Metal
(000 lbs Zn)
Grade
(Cu %)
Contained Metal
(000 lbs Cu)
Grade
(Aueq g/t)
Contained Metal
(000 oz Aueq)
Tucano 7,736 3.11 774   -     -     -     -     -     -     -     -   3.11 774
Topia 127 1.34 5 436 1,784 3.57 10,016 3.79 10,633   -     -   11.41 47
San Ignacio 72 2.87 7 173 398   -     -     -     -     -     -   5.04 12
Guanajuato 87 1.62 5 199 561   -     -     -     -     -     -   4.11 12
Coricancha 349 5.60 63 189 2,118 1.95 14,984 3.05 23,437 0.52 3,996 12.49 140
El Horcon   -     -     -     -     -     -     -     -     -     -     -     -     -  
Total Indicated 8,371   853   4,861   25,000   34,070   -   3,996 3.65 984
                           
MEASURED & INDICATED
Property Tonnage
(000t)
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Grade
(Ag g/t)
Contained Metal
(000 oz Ag)
Grade
(Pb %)
Contained Metal
(000 lbs Pb)
Grade
(Zn %)
Contained Metal
(000 lbs Zn)
Grade
(Cu %)
Contained Metal
(000 lbs Cu)
Grade
(Aueq g/t)
Contained Metal
(000 oz Aueq)
Tucano 12,614 2.25 914   -     -     -     -     -     -     -     -   2.25 914
Topia 400 1.35 17 462 5,939 3.87 34,119 4.06 35,794   -     -   12.09 155
San Ignacio 332 3.02 32 160 1,973   -     -     -     -     -     -   5.01 53
Guanajuato 341 1.69 19 204 2,254   -     -     -     -     -     -   4.24 46
Coricancha 753 5.80 140 200 4,840 2.07 34,353 3.26 54,101 0.53 8,796 13.06 316
El Horcon   -     -     -     -     -     -     -     -     -     -     -     -     -  
Total M&I 14,439   1,122   15,007   68,472   89,895   8,796 3.20 1,486

Inferred Mineral Resources

INFERRED
Property Tonnage
(000t)
Grade
(Au g/t)
Contained Metal
(000 oz Au)
Grade
(Ag g/t)
Contained Metal
(000 oz Ag)
Grade
(Pb %)
Contained Metal
(000 lbs Pb)
Grade
(Zn %)
Contained Metal
(000 lbs Zn)
Grade
(Cu %)
Contained Metal
(000 lbs Cu)
Grade
(Aueq g/t)
Contained Metal
(000 oz Aueq)
Tucano 11,664 2.16 812   -     -     -     -     -     -     -     -   2.16 812
Topia 400 1.34 17 434 5,587 2.86 25,246 2.97 26,217   -     -   10.89 134
San Ignacio 502 2.69 43 149 2,405   -     -     -     -     -     -   4.76 73
Guanajuato 209 2.32 16 168 1,129   -     -     -     -     -     -   4.63 30
Coricancha 943 5.00 152 209 6,338 1.45 30,150 3.25 67,578 0.64 13,308 12.21 371
El Horcon 162 3.44 18 76 396 2.69 9,616 3.79 13,548   -     -   5.25 26
Total Inferred 13,880   1,058   15,856   65,012   107,342   13,308 3.26 1,446

Notes to Mineral Reserves and Resources

  1. Technical Report on the 2019 Mineral Reserves and Mineral Resources of the Tucano Gold Mine, Amapa State, Brazil: RPA, dated March 25, 2020, effective date September 31, 2019.
  2. Mineral Resources are inclusive of Mineral Reserves.
  3. NI43-101 Report on the Topia Mine Mineral Resource Estimates as of July 31st, 2018. GPR internal report dated Febuary 28, 2018 with an effective date of July 31, 2018.
  4. NI43-101 Mineral Resource Update Technical Report on the Guanajuato Mine Complex, San Ignacio Mine, Guanajuato State, Mexico.  GPR internal report dated March 17th, 2020 with an effective date of July 31, 2019.
  5. NI43-101 Mineral Resource Update Technical Report on the Guanajuato Mine Complex, Guanajuato Mine, Guanajuato State, Mexico.  GPR internal report dated March 27th, 2020 with an effective date of October 31, 2019.
  6. NI43-101 Resource Update Report on the Coricancha Mine Complex, Huarochiri Provence, Lima Region, Peru: Golder Associates, dated February 2nd, 2018 with an effective date of December 20th, 2017.
  7. El Horcon project mineral resource taken from NI43-101 Technical Report on the Guanajuato Mine Complex Claims and Mineral Resource Estimates for the Guanajuato Mine, San Ignacio Mine, and the El Horcon and Santa Rosa Projects.  GPR internal report dated February 20th, 2017 with an effective date of August 31, 2016
  8. Metal prices, and Au:Ag ratio differ for the above reports, but were respected in the calculation of Aueq grades and Aueq Contained ounces for the Topia Mine, Guanajuato Mine, San Ignacio Mine, Coricancha Mine, and El Horcon project mineral resource estimates.
  9. Detailed notes for each reserve and resource estimation found in the respective reports, as well on the Great Panther Mining Ltd website, press Operations tab and under "Reserves and Resources".
  10. Summary of Reserves and Resources compiled by R.F. Brown, P. Eng., and QP for Great Panther Mining Ltd.
  11. Adjustment to R&R to December 31, 2019 by mine staff at Tucano, by R.F. Brown, P. Eng. for Topia, San Ignacio, and Guanajuato Mines, and no adjustments for Coricancha ad El Horcon.