Eagle Mountain Project

Overview

The Eagle Mountain Gold Project is an advanced-stage gold development PEA stage project located in west-central Guyana, approximately 200 km south-southwest of Georgetown and 8 km of Mahdia. The project covers approximately 5,050 hectares and is anchored by a 100%-owned prospecting license held by Goldsource Mines Inc.. Additional land interests include agreements with local partners to operate within medium- and small-scale mining permits, ensuring compliance with Guyanese mining regulations.

Eagle Mountain is being advanced as a conventional open-pit gold mining operation, with sufficient land area to support the proposed mine plan and associated infrastructure, including processing facilities, waste storage, and tailings management areas.

The project benefits from proximity to established infrastructure and a mining-friendly region. Access is available via road from Georgetown and through a nearby airstrip in Mahdia, which supports small commercial aircraft. The surrounding area has basic services, a skilled workforce experienced in mining, and existing power generation through diesel and solar sources. On-site infrastructure includes an exploration camp, power generation units, and access to local water sources.

With ongoing development work and a favorable location in an active mining district, Eagle Mountain represents a significant gold project with strong potential for future production.

Mineral Resources

Mineral Resource Estimate Eagle Mountain Project, Effective Date January 16, 2024

Material	Cut-Off Grade (g/t)	Tonnes (Mt)	Gold (g/t)	Gold (Koz)
Eagle Mountain Project
Indicated
Sap and Trans	0.30	12.48	1.04	417
Fresh	0.50	18.66	1.28	766
All		31.13	1.18	1,183
Inferred
Sap and Trans	0.30	6.1	0.71	139
Fresh	0.50	12.3	1.12	443
All		18.4	0.98	582

1. Numbers have been rounded to reflect the precision of the MRE. Totals may vary due to rounding.
2. Gold cut-off grade has been calculated based on a gold price of US$1,600/oz, mining costs of US$1.5/t for saprolite and US$2.0/t for fresh rock, processing costs of US$6.0/t for saprolite and US$12.0/t for fresh rock, and mine-site administration costs of US$3.0/t. Metallurgical recoveries of 95% are based on prior testwork.
3. Mineral Resources conform to NI 43-101, and the 2019 CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines and 2014 CIM Definition Standards for Mineral Resources & Mineral Reserves.
4. The Company is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing or political factors that might materially affect these Mineral Resource estimates.
5. Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. The quantity and grade of reported Inferred Resources in this Mineral Resource estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured Resources; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

Technical Reports

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