BusinessWorld July 14, 2021 | 7:00 am Philex Mining Corporation, one of the oldest and largest gold and copper producers in Southeast Asia, after the completion of confirmatory drilling and related technical studies on the mining methodology and Tailings Storage Facility (TSF) No. 3, has successfully identified from the end of 2022 additional mineable reserves in its Padcal Mine that are feasible for mining. The updated remaining mineable reserves as of end-March 2021 are estimated at 30.2 million tons with average gold and copper grades of 0.23 grams per ton (g/t) and 0.18%, respectively. This new estimate includes additional reserves of 16.2 million tons from the previously declared estimated mineable reserves as at the end 2020 of 17.4 million tons with an average gold and copper grades of 0.27 g/t and 0.18% that was reported in February 2021. The additional mineable reserves are expected to be mined over two years, extending the life of Padcal Mine until Dec. 31, 2024.