Mineral Resource

The reported November 2024 Mineral Resource Estimate (MRE) has been constrained within a US$2,200 gold value hell using a AuEq lower cut-off of 0.4865 g/t AuEq. Mineral Resources have been classified as inferred based on drill spacing, geological continuity and modifying factor confidence level.

• The deposit model comprises 11 subvertical host structures within a 350m wide corridor over a 2km strike zone.
• The host structures extend to nearly 220m vertical depth and have been capped near the surface by a late-stage andesitic unmineralized flow in the Columbia Flat area. For the most part however, there is no overburden.
• Individual structures vary in width from several metres up to 60m in width. The structures are near vertical and dip slightly west and converge to the north while becoming more divergent in the southern part of the deposit.

Information regarding metal equivalents

• The MRE has been optimized and reported using a gold equivalent value based on the following formula: AuEq = Au g/t + Ag g/t (Ag oz $(30)/Auoz $ (2200) x Ag recovery (0.77) / Au recovery (0.96))
• A gold price of US$2,200 and Silver price of US$30 have been assumed for the metal equivalents calculation.
• It is the Company’s opinion that all of the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold.
• Recoveries of 96% gold and 77% silver have been applied to the metal equivalents calculation. These assumed recoveries have been derived from metallurgical testing conducted by Canyon Resources Corporation in 2006. The study yielded gravity concentration up to 56% gold and 18% silver from the bulk sample. Gravity tail flotation increased gold recovery to 96% gold and 77% silver.