Near-Term Au Production with Deep Potential

50km2 mining licence + new 74km2 exploration licences
• Shallow 20,330 Au Eq. Ounces (NI43-101, inferred)
• Significant exploration upside, only 12km2 of ground explored
• 2023 RC drill program underway
• First drill results include 32 g/t Au

Limited Exploration on Most of Licence Area

Only ~12km2 of the 50km2 ML-011675 mining licence explored so far. Newly acquired EL-042214 (78km2) has had limited exploration.

Proven Endowment and Active Artisanals

NI43-101 preliminary resource based only on 2021/2022 trenching. Shallow (<50m), low cost, inferred resource of 20,330 Au Eq. Oz. Report states potential to increase to >100,000 shallow Oz. Artisanal workers are active across both licences.

New Geophysical Targets Untested

2014 EM survey generated 8km conductive targets that have not been tested. 2022 magnetic targets separate from ore bodies require further investigation.

2022 Ground Magnetics Identifies Targets Beneath Resource

Geophysics maps known ore bodies and extends the targets to >600m depth in magnetic modelling. These depth extensions remain untested.

2014 Soil Geochemistry Identifies Mineralisation

Soil samples analysed with XRF show excellent correlation between pathfinder elements (Pb) and known mineralisation. Shows that further geochemistry across licence will be a cost-efficient method of exploration.