# EDGAR Filing Document

**Accession Number:** 0000745338
**File Stem:** 0001193125-26-175956
**Filing Date:** 2026-4
**Character Count:** 32169
**Document Hash:** 0a09aac6bd1d35eacf1e7d4ce7c81419
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-175956.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001193125-26-175956

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**PERIOD START**: 20261130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OCM MUTUAL FUND
- **CENTRAL INDEX KEY:** 0000745338

**ORGANIZATION NAME:**
- **EIN:** 226444024
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04010
- **FILM NUMBER:** 26891450

**BUSINESS ADDRESS:**
- **STREET 1:** 2600 KITTY HAWK ROAD
- **STREET 2:** SUITE 119
- **CITY:** LIVERMORE
- **STATE:** CA
- **ZIP:** 94551
- **BUSINESS PHONE:** 414-299-2000

**MAIL ADDRESS:**
- **STREET 1:** C/O UMB FUND SERVICES, INC.
- **STREET 2:** 235 W. GALENA ST.
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53212-3948

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PIA MUTUAL FUND
- **DATE OF NAME CHANGE:** 20030402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONTEREY MUTUAL FUND
- **DATE OF NAME CHANGE:** 19970325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONITREND MUTUAL FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### OCM MUTUAL FUND (Series ID: S000005294)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000014470 | OCM Gold Fund - Investor Class | OCMGX           |
| C000101831 | OCM Gold Fund - Atlas Class    | OCMAX           |

## Nport-Ex

**OCM GOLD FUND**

**Schedule of Investments - February 28, 2026**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| Shares |  |  | Value |
|  | **Common Stocks** | **91.9%** |  |
|  | **Major Gold Producers** | **22.1%** |  |
| 65000 | Agnico Eagle Mines Ltd. |  | $16354000 |
| 105000 | AngloGold Ashanti PLC |  | 13415850 |
| 225000 | Barrick Mining Corp. |  | 11416500 |
| 118670 | Endeavour Mining PLC |  | 8538568 |
| 85000 | Newmont Corp. |  | 11050000 |
|  |  |  | **60774918** |
|  | **Intermediate/Mid-Tier Gold Producers** | **30.8%** |  |
| 290000 | Alamos Gold, Inc. |  | 15715100 |
| 133333 | Allied Gold Corp.\* |  | 4220609 |
| 300000 | B2Gold Corp. |  | 1848000 |
| 500000 | B2Gold Corp.^ |  | 3071622 |
| 75000 | Centerra Gold, Inc. |  | 1577250 |
| 250000 | DPM Metals, Inc. |  | 10823987 |
| 225000 | Fortuna Mining Corp.\* |  | 3074555 |
| 637501 | Greatland Resources Ltd.\* |  | 6265221 |
| 100000 | IAMGOLD Corp.\* |  | 2457000 |
| 130000 | Lundin Gold, Inc. |  | 12252841 |
| 166666 | OceanaGold Corp. |  | 7087673 |
| 70000 | Pan American Silver Corp. |  | 4809000 |
| 800000 | Perseus Mining Ltd. |  | 3415884 |
| 100000 | SSR Mining, Inc.\* |  | 3219000 |
| 600000 | West African Resources Ltd.\* |  | 1490179 |
| 600000 | Westgold Resources Ltd. |  | 3309138 |
|  |  |  | **84637059** |
|  | **Junior Gold Producers** | **18.9%** |  |
| 1250000 | Catalyst Metals Ltd.\* |  | 7570097 |
| 150000 | Discovery Silver Corp.\* |  | 1239278 |
| 1250000 | Emerald Resources N.L.\* |  | 6298036 |
| 62500 | G Mining Ventures Corp.\* |  | 2559380 |
| 300000 | Heliostar Metals Ltd.\* |  | 657576 |
| 1700000 | Jaguar Mining, Inc.\* |  | 11540210 |
| 175000 | K92 Mining, Inc.\* |  | 4218166 |
| 500000 | Orezone Gold Corp.\* |  | 1007990 |
| 2758000 | Rio2 Ltd.\* |  | 7662796 |
| 900000 | Thor Explorations Ltd. |  | 1115021 |
| 415000 | Wesdome Gold Mines Ltd.\* |  | 8159446 |
|  |  |  | **52027996** |
|  | **Exploration and Development Companies** | **11.5%** |  |
| 350000 | Angel Wing Metals, Inc.\* |  | 9622 |

---

---

| | | | |
|:---|:---|:---|:---|
| Shares |  |  | Value |
| 1166666 | Ausgold Ltd.\* |  | $929879 |
| 505000 | Canagold Resources Ltd.\* |  | 240635 |
| 3000000 | Excellon Resources, Inc.\* |  | 1451506 |
| 250000 | G2 Goldfields, Inc.\* |  | 1284730 |
| 348971 | Horizon Minerals Ltd.\* |  | 281869 |
| 2941181 | Kalamazoo Resources Ltd.\* |  | 397683 |
| 875000 | Liberty Gold Corp.\* |  | 1013489 |
| 1562500 | Miata Metals Corp.\* |  | 675812 |
| 1228000 | Mithril Silver And Gold Ltd.\* |  | 315080 |
| 616500 | Montage Gold Corp.\* |  | 7683088 |
| 734108 | NeXGold Mining Corp.\* |  | 1237775 |
| 4000000 | Omai Gold Mines Corp.\* |  | 5864673 |
| 209004 | Robex Resources, Inc.\* |  | 1142293 |
| 2399000 | Royal Road Minerals Ltd.\* |  | 395700 |
| 4578755 | RTG Mining, Inc.\* |  | 127079 |
| 1860466 | Saturn Metals Ltd.\* |  | 827492 |
| 526400 | Sendero Resources Corp.\* |  | 636728 |
| 628930 | Tesoro Gold Ltd.\* |  | 478903 |
| 300000 | Thesis Gold & Silver, Inc.\* |  | 778535 |
| 200000 | Tiernan Gold Corp.\* |  | 1466168 |
| 130000 | U.S. Gold Corp.\* |  | 2538900 |
| 200000 | Vizsla Silver Corp.\* |  | 876000 |
| 547900 | Western Exploration, Inc.\* |  | 361491 |
| 1600000 | WIA Gold Ltd.\* |  | 620552 |
|  |  |  | **31635682** |
|  | **Royalty/Streaming Companies** | **5.4%** |  |
| 100000 | Metalla Royalty & Streaming Ltd.\* |  | 905000 |
| 500000 | Summit Royalties Ltd.\* |  | 590133 |
| 100000 | Vizsla Royalties Corp.\* |  | 265376 |
| 80000 | Wheaton Precious Metals Corp. |  | 13035408 |
|  |  |  | **14795917** |
|  | **Primary Silver Producers** | **3.2%** |  |
| 404400 | Aya Gold & Silver, Inc.\* |  | **8754440** |
|  | **Total Common Stocks** |  |  |
|  | (Cost $41,918,451) |  | **252626012** |
|  | **Warrants** | **0.2%** |  |
|  | **Exploration and Development Companies** | **0.2%** |  |
| 367054 | NeXGold Mining Corp. <br> Exercise Price 0.95 CAD, Exp. 12/16/2026\* |  | 363260 |
| 100000 | Tiernan Gold Corp. <br> Exercise Price 6.50 CAD, Exp. 11/15/2027\* |  | 256579 |
| 65000 | U.S. Gold Corp. <br> Exercise Price 23.00 USD, Exp. 12/15/2027\* |  |  |
| 273950 | Western Exploration, Inc. Exercise Price 1.35 CAD, Exp. 2/3/2028\* |  |  |
|  |  |  | **619839** |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Total Warrants** |  | |
|  | (Cost $0) |  | $**619839** |
|  | **Short-Term Investment** | **7.8%** |  |
| 21298422 | UMB Bank, Institutional Banking Money Market II Deposit Investment, 3.43%<sup>#</sup> |  | 21298422 |
|  | **Total Short-Term Investment** |  |  |
|  | (Cost $21,298,422) |  | **21298422** |
|  | **Total Investments** | **99.9%** |  |
|  | (Cost $63,216,873) |  | **274544273** |
|  | **Assets less Other Liabilities** | **0.1%** | **277920** |
|  | **TOTAL NET ASSETS** | **100.0%** | $**274822193** |

---

PLC – Public Limited Company <br> CAD – Canadian Dollars

\* Non-income producing security. <br> ^ Denoted investment is a Canadian security traded on U.S. stock exchange. <br> # The rate is the annualized seven-day yield at period end.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** OCM MUTUAL FUND

- **b. Investment Company Act file number:** 811-04010

- **c. CIK number of Registrant:** 0000745338

- **d. LEI of Registrant:** 549300AKSS68PWZOHM90

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 2600 Kitty Hawk Rd

  - **City:** Livermore

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94551

  - **Telephone number:** 8007794681

**Item A.2. Information about the Series.**

- **a. Name of Series:** OCM MUTUAL FUND

- **b. EDGAR series identifier (if any):** S000005294

- **c. LEI of Series:** 5493007254B8R9O2U456

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $274731544.37

**Total Liabilities:** $367779.57

**Net Assets:** $274363764.80

**Cash Not Reported:** $194164.38

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000014470 | 7.55%                | 9.04%                | 20.10%               |
| Class ID C000101831 | 7.60%                | 9.10%                | 20.13%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $104508.88               | $14414528.79                               |
| Month 2  | $6102730.61              | $12371496.02                               |
| Month 3  | $-205.55                 | $45708050.75                               |

### Schedule of Portfolio Investments

| Name                                         | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Jaguar Mining Inc                            | Jaguar Mining, Inc.                          | CUSIP: 47009M889<br>LEI: 549300IRKN0GXIRGS617 | Long             | EC               | CORP              | CA        |   1700000 | NS      | $11540209.66  | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                               | K92 Mining, Inc.                             | CUSIP: 499113108<br>LEI: 254900EA8H0X9FEVZU11 | Long             | EC               | CORP              | CA        |    175000 | NS      | $4218165.82   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Kalamazoo Resources Ltd                      | Kalamazoo Resources Ltd.                     | CUSIP: Q5172E102<br>LEI: 549300ISY0PB1Z68Q732 | Long             | EC               | CORP              | AU        |   2941181 | NS      | $397683.17    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB MONEY MARKET II SPECIAL   /              | UMB MONEY MARKET II SPECIAL   /              | CUSIP: SF8888628<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  21104258 | PA      | $21104257.53  | 7.69%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                               | SSR Mining, Inc.                             | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | US        |    100000 | NS      | $3219000.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Saturn Metals Ltd                            | Saturn Metals Ltd.                           | CUSIP: Q8317P107<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1860466 | NS      | $827491.64    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Royalties Ltd                         | Summit Royalties Ltd.                        | CUSIP: 866251101<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    500000 | NS      | $590132.69    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Gold Corp                             | Allied Gold Corp.                            | CUSIP: 01921D204<br>LEI: 894500S5G4JFSRGK8L37 | Long             | EC               | CORP              | CA        |    133333 | NS      | $4220609.43   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                       | Agnico Eagle Mines Ltd.                      | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |     65000 | NS      | $16354000.00  | 5.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                              | Alamos Gold, Inc.                            | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |    290000 | NS      | $15715100.00  | 5.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc                        | Anglogold Ashanti Plc                        | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |    105000 | NS      | $13415850.00  | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Ausgold Ltd                                  | Ausgold Ltd.                                 | CUSIP: Q07063102<br>LEI: 894500N1FW604CKRQQ71 | Long             | EC               | CORP              | AU        |   1166666 | NS      | $929878.96    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Angel Wing Metals Inc                        | Angel Wing Metals, Inc.                      | CUSIP: 03464G206<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    350000 | NS      | $9621.73      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Aya Gold & Silver Inc                        | Aya Gold & Silver, Inc.                      | CUSIP: 05466C109<br>LEI: 549300BWX8KJOTUL4M51 | Long             | EC               | CORP              | CA        |    404400 | NS      | $8754440.29   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp                          | Barrick Mining Corp.                         | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    225000 | NS      | $11416500.00  | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                                  | B2Gold Corp.                                 | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    300000 | NS      | $1848000.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| B2Gold Corp                                  | B2Gold Corp.                                 | CUSIP: 11777Q209<br>LEI: 549300F7OK456M5NLM05 | Long             | EC               | CORP              | CA        |    500000 | NS      | $3071622.32   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Canagold Resources Ltd                       | Canagold Resources Ltd.                      | CUSIP: 136842101<br>LEI: 529900VSHM6IT5414441 | Long             | EC               | CORP              | CA        |    505000 | NS      | $240634.85    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerra Gold Inc                            | Centerra Gold, Inc.                          | CUSIP: 152006102<br>LEI: 549300K0HXTMP5JJ0E62 | Long             | EC               | CORP              | CA        |     75000 | NS      | $1577250.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Metals Ltd                          | Catalyst Metals Ltd.                         | CUSIP: Q2144G109<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1250000 | NS      | $7570096.78   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| DPM Metals Inc                               | DPM Metals, Inc.                             | CUSIP: 26139R109<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |    250000 | NS      | $10823986.51  | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortuna Mining Corp                          | Fortuna Mining Corp.                         | CUSIP: 349942102<br>LEI: 5493003Q88RVK7CW4735 | Long             | EC               | CORP              | CA        |    225000 | NS      | $3074554.65   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT BRITAIN POUND  /                       | GREAT BRITAIN POUND  /                       | CUSIP: 999999999<br>LEI: N/A                  | Short            | STIV             |  | GB        |     -1080 | OU      | $-1455.53     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Greatland Resources Ltd                      | Greatland Resources Ltd.                     | CUSIP: Q4319F106<br>LEI: 213800KQI75ZGE53GX44 | Long             | EC               | CORP              | AU        |    637501 | NS      | $6265221.19   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| G Mining Ventures Corp                       | G Mining Ventures Corp.                      | CUSIP: 36270K102<br>LEI: 894500N5AZEQU0BLOT06 | Long             | EC               | CORP              | CA        |     62500 | NS      | $2559379.81   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| G2 Goldfields Inc                            | G2 Goldfields, Inc.                          | CUSIP: 36256R105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    250000 | NS      | $1284729.86   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Horizon Minerals Ltd                         | Horizon Minerals Ltd.                        | CUSIP: Q4704L205<br>LEI: 984500A12AE2C6874A86 | Long             | EC               | CORP              | AU        |    348971 | NS      | $281868.83    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Heliostar Metals Ltd                         | Heliostar Metals Ltd.                        | CUSIP: 42328Y102<br>LEI: 529900BF6RCFL9WNSB18 | Long             | EC               | CORP              | CA        |    300000 | NS      | $657576.42    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                                 | IAMGOLD Corp.                                | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    100000 | NS      | $2457000.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesoro Gold Ltd                              | Tesoro Gold Ltd.                             | CUSIP: Q9021B202<br>LEI: 9845008A3CD0A5FE6F76 | Long             | EC               | CORP              | AU        |    628930 | NS      | $478903.43    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| US Gold Corp                                 | U.S. Gold Corp.                              | CUSIP: 90291C201<br>LEI: 5299003C2TFXIV9QAV34 | Long             | EC               | CORP              | US        |    130000 | NS      | $2538900.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. GOLD Corp. WARRANTS   /                 | U.S. GOLD Corp. WARRANTS   /                 | CUSIP: 999999999<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     65000 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Vizsla Royalties Corp                        | Vizsla Royalties Corp.                       | CUSIP: 92859L201<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    100000 | NS      | $265376.44    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Vizsla Silver Corp                           | Vizsla Silver Corp.                          | CUSIP: 92859G608<br>LEI: 549300ADJF7HWIEDL366 | Long             | EC               | CORP              | CA        |    200000 | NS      | $876000.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| West African Resources Ltd                   | West African Resources Ltd.                  | CUSIP: Q9594D106<br>LEI: 529900XLO8GMJNTUL013 | Long             | EC               | CORP              | AU        |    600000 | NS      | $1490179.33   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesdome Gold Mines Ltd                       | Wesdome Gold Mines Ltd.                      | CUSIP: 95083R100<br>LEI: 254900D63U62QS84H719 | Long             | EC               | CORP              | CA        |    415000 | NS      | $8159445.79   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Exploration Inc                      | Western Exploration, Inc.                    | CUSIP: 95816A200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    547900 | NS      | $361491.09    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN EXPLORATION PRIVATE WARRANTS OCM   / | WESTERN EXPLORATION PRIVATE WARRANTS OCM   / | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               | CORP              | CA        |    273950 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Westgold Resources Ltd                       | Westgold Resources Ltd.                      | CUSIP: Q97159232<br>LEI: 2549003AMX9BL7CKBQ74 | Long             | EC               | CORP              | AU        |    600000 | NS      | $3309137.49   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| WIA Gold Ltd                                 | WIA Gold Ltd.                                | CUSIP: Q8844P109<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1600000 | NS      | $620552.23    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp                 | Wheaton Precious Metals Corp.                | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     80000 | NS      | $13035407.96  | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Silver Corp                        | Discovery Silver Corp.                       | CUSIP: 254677107<br>LEI: 98450041CCB3E8QD3F53 | Long             | EC               | CORP              | CA        |    150000 | NS      | $1239278.65   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Endeavour Mining PLC                         | Endeavour Mining PLC                         | CUSIP: G3042J105<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |    118670 | NS      | $8538567.92   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerald Resources NL                         | Emerald Resources NL                         | CUSIP: Q3464L108<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1250000 | NS      | $6298035.87   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Excellon Resources Inc                       | Excellon Resources, Inc.                     | CUSIP: 30069C801<br>LEI: 549300TCL7Q34YGPQ182 | Long             | EC               | CORP              | CA        |   3000000 | NS      | $1451506.49   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Gold Corp                            | Liberty Gold Corp.                           | CUSIP: 53056H104<br>LEI: 549300DY25855R7ZV117 | Long             | EC               | CORP              | CA        |    875000 | NS      | $1013488.75   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Gold Inc                              | Lundin Gold, Inc.                            | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |    130000 | NS      | $12252840.70  | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Montage Gold Corp                            | Montage Gold Corp.                           | CUSIP: 61178L101<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    616500 | NS      | $7683087.75   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Miata Metals Corp                            | Miata Metals Corp.                           | CUSIP: 59403F105<br>LEI: 984500ELQ9T8H1497788 | Long             | EC               | CORP              | CA        |   1562500 | NS      | $675811.89    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Mithril Silver And Gold Ltd                  | Mithril Silver And Gold Ltd.                 | CUSIP: Q6253U106<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1228000 | NS      | $315079.54    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Metalla Royalty & Streaming Lt               | Metalla Royalty & Streaming Ltd.             | CUSIP: 59124U605<br>LEI: 549300RPR0O774QEKV20 | Long             | EC               | CORP              | CA        |    100000 | NS      | $905000.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                                 | Newmont Corp.                                | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     85000 | NS      | $11050000.00  | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NeXGold Mining Corp                          | NeXGold Mining Corp.                         | CUSIP: 65345V108<br>LEI: 25490084LOPPDXN4YK38 | Long             | EC               | CORP              | CA        |    734108 | NS      | $1237774.92   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXGOLD MINING Corp. WARRANTS   /            | NEXGOLD MINING Corp. WARRANTS   /            | CUSIP: 999999999<br>LEI: N/A                  | Long             | DE               | CORP              | CA        |    367054 | NC      | $363259.95    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| OceanaGold Corp                              | OceanaGold Corp.                             | CUSIP: 675222400<br>LEI: 549300CBMSE8I9N3E232 | Long             | EC               | CORP              | CA        |    166666 | NS      | $7087672.94   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Omai Gold Mines Corp                         | Omai Gold Mines Corp.                        | CUSIP: 682043104<br>LEI: 254900GOHPZOKN6K3C88 | Long             | EC               | CORP              | CA        |   4000000 | NS      | $5864672.68   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Orezone Gold Corp                            | Orezone Gold Corp.                           | CUSIP: 68616T109<br>LEI: 529900ZRY6WGGRC9Z698 | Long             | EC               | CORP              | CA        |    500000 | NS      | $1007990.62   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp                     | Pan American Silver Corp.                    | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     70000 | NS      | $4809000.00   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Perseus Mining Ltd                           | Perseus Mining Ltd.                          | CUSIP: Q74174105<br>LEI: 54930054ZDGKBCW3SM26 | Long             | EC               | CORP              | AU        |    800000 | NS      | $3415883.86   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio2 Ltd                                     | Rio2 Ltd.                                    | CUSIP: 767217102<br>LEI: 2549009N9W290I0XSE73 | Long             | EC               | CORP              | CA        |   2758000 | NS      | $7662795.98   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| RTG Mining Inc                               | RTG Mining, Inc.                             | CUSIP: G7707W178<br>LEI: N/A                  | Long             |  | CORP              | AU        |   4578755 | NS      | $127079.02    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Robex Resources Inc                          | Robex Resources, Inc.                        | CUSIP: 999999999<br>LEI: 529900UBILRW1I57HF58 | Long             |  | CORP              | CA        |    209004 | NS      | $1142293.42   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Road Minerals Ltd                      | Royal Road Minerals Ltd.                     | CUSIP: G76828105<br>LEI: 54930033JDODZL6J2G22 | Long             | EC               | CORP              | JE        |   2399000 | NS      | $395700.46    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sendero Resources Corp                       | Sendero Resources Corp.                      | CUSIP: 81688C300<br>LEI: N/A                  | Long             | EC               | CORP              | AR        |    526400 | NS      | $636727.51    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Thesis Gold & Silver Inc                     | Thesis Gold & Silver, Inc.                   | CUSIP: 883922106<br>LEI: 529900EDQ993Q6M6BH62 | Long             | EC               | CORP              | CA        |    300000 | NS      | $778535.30    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Explorations Ltd                        | Thor Explorations Ltd.                       | CUSIP: 885149104<br>LEI: 213800AXZ8468CQYVT76 | Long             | EC               | CORP              | CA        |    900000 | NS      | $1115020.89   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Tiernan Gold Corp                            | Tiernan Gold Corp.                           | CUSIP: 88650A105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    200000 | NS      | $1466168.17   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| TIERNAN GOLD WARRANTS   /                    | TIERNAN GOLD WARRANTS   /                    | CUSIP: 886936111<br>LEI: N/A                  | Long             | DE               | CORP              | CA        |    100000 | NC      | $256579.43    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-05

**Name of Applicant:** OCM MUTUAL FUND

**Signature:** /s/ Gregory M. Orrell

**Name of Signer:** Gregory M. Orrell

**Title:** President