PILAR GOLD PGDM COMPLEX
GOIAS STATE, BRAZIL
ROYALTY DESCRIPTION (B Type)
Pilar Gold Inc (“Pilar”) owns and operates the PGDM complex in Brazil and is planning a restart of operations Q1 2026
Royalty acquisition was announced and first Tranche closed in August 2023,
second Tranche closed in November 2023, and final Tranche closed in August 2024SCRi paid US$ 2.0 million in cash for 90% of silver produced at the PGDM Complex
Pilar has the right to double the minimum silver ounce payments (to the cash equivalent of 32,000 ounces from 16,000 ounces per year) for an additional payment from SCRi of US$1.5 million in SCRI equity
| OPERATOR | Pilar Gold |
| MKT CAP | Private |
| TERMS | 90% of silver produced over the life of mine, or 16,000 silver ounces per year for 10 years, whichever is higher/longer |
| ASSET | PGDM |
| SILVER OZs | 16,000 per year; 1,500,000 over Life of Mine (LOM) |
| DELIVERED YTD 2025 | 12,000 |
| LOM (yrs) | 20+ |
| NAV (C$ mln) | 12.6 |
| IRR (at $45/oz) | 38% |
| STATUS | Restarting |
Pilar Gold, PDGM Project