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Reward Mineral Resource Estimate

Mineral Resource Estimate

Table 1: Reward Mineral Resource Estimate
Classification Tonnage (Mt) Average Grade (g/t) Contained Au (g/t)
Good Hope
Measured 6.19 0.86 169.9
Indicated 10.76 0.69 240.0
M&I Total 16.94 0.75 409.9
Gold Ace
Indicated 0.83 0.63 16.8
Inferred 1.03 0.73 21.8
Reward (Combined Good Hope and Gold Ace)
Measured 6.19 0.86 169.9
Indicated 11.58 0.69 256.8
M&I Total 17.77 0.75 426.7
Inferred 1.23 0.68 27.1

Notes:

  1. Oxide estimated Mineral Resources are reported within a pit shell using the Lerch Grossman algorithm, a gold price of US$1,700/oz and a recovery of 80% for Au were utilized.
  2. Mining costs for mineralized material and waste are US$2.20/tonne.
  3. Processing and general and administration are US$6.06/tonne and US$0.83/tonne per tonne processed, respectively.
  4. Due to rounding, some columns or rows may not compute as shown.
  5. Estimated Mineral Resources are stated as in situ dry metric tonnes and are partially diluted.
  6. The estimate of Mineral Resources may be materially affected by legal, title, taxation, socio-political, marketing, or other relevant issues.
  7. The effective date of the Reward mineral resource estimate is May 31, 2022.
Table 2: Bullfrog Mineral Resource Estimate
Classification Tonnage (Mt) Au grade (g/t) Ag grade (g/t) Au Contained (koz) Ag Contained (koz)
Measured 30.13 0.544 1.35 526.68 1,309.13
Indicated 40.88 0.519 1.18 682.61 1,557.49
Measured and Indicated 71.01 0.530 1.26 1,209.29 2,866.62
Inferred 16.69 0.481 0.96 257.90 515.72

Notes:

  1. Oxide estimated Mineral Resources are reported within a pit shell using the Lerch Grossman algorithm, a gold price of US$1,550/oz and a recovery of 82% for Au and silver price of US$20/oz and a recovery of 20% For Ag.
  2. Sulphide estimated Mineral Resources are reported within a pit shell using the Lerch Grossman algorithm, a gold price of US$1,550/oz and a recovery of 50% for Au and silver price of US$20/oz and a recovery of 12% for Ag. No sulphide material was reported for Montgomery-Shoshone or Bonanza.
  3. Mining costs for mineralized material and waste are US$2.25/tonne.
  4. Processing, general and administration, and refining costs are US$5.00/tonne, US$0.50/tonne, and US$0.05/tonne respectively.
  5. Due to rounding, some columns or rows may not compute as shown.
  6. Estimated Mineral Resources are stated as in situ dry metric tonnes.
  7. The estimate of Mineral Resources may be materially affected by legal, title, taxation, socio-political, marketing, or other relevant issues.
  8. The effective date of the Bullfrog mineral resource estimate is December 31, 2021.

Augusta Gold Location

Reward and Bullfrog are strategically located just seven miles apart in the prolific Walker Lane district Nevada, an area very active by junior and senior gold companies involved in exploration, development, and asset consolidation.

The scientific and technical information contained on this page related to the Reward gold project is derived from the technical report titled “Mineral Resource Estimate for the Reward Project, Nye County, Nevada, USA” with an effective date of May 31, 2022, prepared by Michael Dufresne and Timothy Scott, who are independent “Qualified Persons” under National Instrument 43-101 - Standards of Disclosure for Mineral Projects and subpart 1300 of Regulation S-K under the United States Securities Exchange Act of 1934, as amended.

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