Mineral Resources

Table 1 – Santana Gold Project Estimate of Mineral Resources  

Notes to Table 1: • The independent QP for the mineral resource estimates, as defined by NI 43-101, is Scott Zelligan, P.Geo. The effective date of the 2023 mineral resource estimate is May 31, 2023. • A gold price of $1,700/oz was used in calculating the Mineral Resources. • The estimate is reported for a potential open pit/heap leach scenario. • The limits of the Resource-constraining pit shell assumed a mining cut-off based on a total operating cost (mining, milling, and general and administrative [G&A]) of $12.00/t stacked, a metallurgical recovery of 75%, and a constant open pit slope angle of 40°. This constraining pit shell contained a total volume of 49 Mt (mineralized + unmineralized) implying a strip ratio of approximately 2.25. • The gold cut-off grade applied to mineralized material is 0.15 g/t Au • These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. • The Mineral Resource estimate follows CIM Definition Standards. • Results are presented in-situ. Ounce (troy) = metric tonnes x grade / 31.1035. Calculations used - metric units (metres, tonnes, g/t). Rounding followed the recommendations as per NI 43-101. • The number of tonnes has been rounded to the nearest ten thousand.  • The QPs of the Report are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing, or other relevant issues that could materially affect the Mineral Resource estimate.  

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