LOS RULOS IOCG PROJECT

LOS RULOS IOCG PROJECT Cu-Au-Co (Executive Summary)

Key Metrics
Cu-Au-Fe-Co. Previous campaign with Cu objective.
Mineralization Type IOCG
New exploratory campaign is recommended especially for disseminated Cobalt
Drilling 1306m 9 drillholes
Samples trench and chip 665 samples
Grades Averages 0.7% Cu; 0.4 g/t Au; 3 g/t Ag; 100 - 4500 g/t Co; 7% Fe
Potential >> 100 Mt @ 0.5%CuT; 0,2 g/t Au; 0,100% Co; 3 g/t Ag + 5-15 %Fe
Resources Indeterminated
Equivalent Cu: 1,87% EqCu
Only 2 levels
Underground labor works > 500 m.
Mineral Concentrates pirquineros: 26-33% Cu, 10-12 g / t Au and 100-200 g / t Ag
IP IP Array: Pole-Dipole d=50m. (Chargeability and Resistivity).
Geophysic
Magnetometry In some parts Ground Magnetometry
Intervals Elements Grade Average
Drillholes Lithology
From To Interval CuT (%) Au (g/t) Ag (g/t) Fe (%) Zn (%) Pb (%) Co (%) EqCu (%)
DDHAR-001 34 37 3,0 0,31 0,08 1,3 9,73 0,039 0,001 0,007 0,46 Amphibol skarn
DDHAR-001 72 74 2,0 0,31 0,17 1,0 6,52 0,033 0,034 0,126 2,09 Calcite-Quartz Vein
DDHAR-001 104 110 6,0 0,29 0,05 1,0 4,79 0,024 0,004 0,007 0,42 Pyroxene Skarn
DDHAR-001 113 120 7,0 0,57 0,07 1,4 4,91 0,014 0,001 0,020 0,89 Garnet Skarn
DDHAR-001 127 128 1,0 0,003 0,14 2,0 3,95 0,002 0,002 0,422 5,68 Hydrothermal Breccia
DDHAR-002A 1 5 4,0 0,21 0,01 1,3 5,23 0,311 0,005 0,004 0,28 Biotite Metandesite
DDHAR-002A 74 78 4,0 0,34 0,02 7,3 3,16 0,679 0,144 0,005 0,47 Pyroxene Skarn
DDHAR-002A 244 247 3,0 0,50 0,09 1,3 8,61 0,008 0,002 0,015 0,76 Amphibol skarn
DDHAR-004 98 101 3,0 0,28 0,23 1,3 8,89 0,013 0,005 0,003 0,47 Pyroxene Skarn
DDHAR-004 180 186 6,0 0,48 0,03 4,5 6,57 0,080 0,005 0,010 0,67 Biotite Metandesite
Note : CuEq= %Cu + (g/tAu*0,6123) + (g/tAg*0,00766) + (%Co*13,217). Values calculated using Cu Price: 3,14 US$/pound. Au Price: 1323 US$/oz. Silver Price: 16,56 US$/oz. Cobalt Price: 41,5 US$/pound.
Cu‐Equivalent values do not take into account the recoverability of gold.

Locatión
Los Rulos IOCG Cu-Co-Au Project is located in Region IV of Chile, 25 km NE of
Canela town, and 100 km NE of Los Vilos Mining Port (Punta Chungo). And 240
km north of Santiago. 800 m osl. Full paved road. Easy access to energy through
nearby high voltage line and 35 km proximity to sea water. Mining friendly district,
without relevant environmental and community problems.

History
The historical data highlight a series
of small pits and underground mine with production of copper and/or gold. The
project includes surface mapping, drilling and surface and underground
samples, with economic copper-gold mineralization intersected. Easy access
to underground mineral resources, through underground mining labor, with
tunnel section of 3 x 3 m). There are approximately 7 km2 (approx. 700
hectares, 1700 acres) of mining property. Surrounded by Codelco, FF Minerals
and Peñoles

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 LOS RULOS IOCG PROJECT

Geology
The area contains IOCG System, with Cu-Au-Co (plus Ag-Fe-Zn-Mo). Metallogenetically the project is located in the coastal
belt, ore type IOCG (Cretaceous). The regional geological setting are conformed by volcanic sedimentary rocks of Early
Cretaceous age (Arqueros Formation) on a clear belt of NW direction and intruded by a granodiorite stock of upper
Cretaceous age (Superunidad Illapel ). This geologic context generated in the stratified rocks an important metasomatic
phenomenon resulting deposits copper – gold, varying in magnitudes and mineralization styles, some currently operating.
The metasomatism is characterized by a partial or total transformation of volcanic sedimentary protolith, resulting hornsfels
and skarn rocks type.

Initial surface channel sampling from road cuttings by the Company returned encouraging results within an alteration zone
of approximately 250m width, including 25m @ 1.97% Cu, 2.12 g/t Au and 35m @ 0.92% Cu, 1.05 g/t Au, + Co.

The first six drill holes demonstrate the

presence of a large IOCG system with
concentrations of copper, gold, cobalt and
anomalous zinc. The system is the product of
intense metasomatism which has highly
altered the original texture of the rocks and is
evidenced today as garnet skarn, amphibole
skarn, pyroxene skarn, silica skarn and
conjugations between them. Biotite
metandesite and silica metandesite are also
present. This complex geological event
presents opportunities for high grade
mineralization but also challenges in terms of
the presence of numerous folds and faults
which make targeting of the mineralized units
difficult. Analysis of the core and down-hole
surveys indicate that the orientation of these
initial drill holes may not be optimum to the
mineralized sequence and the data will assist
in locating subsequent holes. The drilling
targeted geophysical (IP) anomalies near
mine workings and coincident with surface
alteration and rock sampling anomalies. In
general, the IP response was identified as
being due to magnetite and chlorite
mineralization within which low to medium
grade copper and gold mineralization was
intersected. The aim of the initial drill program
is to test geological modelling and strong
chargeability anomalies identified during
extensive Induced Polarization (IP) surveys
coincident with channel sampling results.

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 LOS RULOS IOCG PROJECT
Los Rulos Project Los Rulos Project
284000 286000 288000 284000 286000 288000
6542000

6542000

6542000
µ µ
6540000

6540000

6540000
IOCG1 IOCG1
6538000

6538000

6538000
IOCG 2 IOCG 2
IOCG 9 IOCG 9

6536000
6536000

6536000

IOCG 6 IOCG 6

6534000
6534000

6534000

IOCG 7 IOCG 7
IOCG10 IOCG10

IOCG 8 IOCG 8

284000 286000 288000 284000 286000 288000

Kilometers Kilometers
0 0,5 1 2 3 4 0 0,5 1 2 3 4
Structures Structures
Tenements Los Rulos Tenements Los Rulos
IP CHARGEABILITY Fault IP CHARGEABILITY Fault
(600m) Asesorias Geomineras Ltda.
Fault, Phtolinking (300m) Asesorias Geomineras Ltda.
Fault, Phtolinking
Armandiño 1/20 Armandiño 1/20
Fault, inferred. Fault, inferred.

The first drillhole DDH AR-001 at Armandino Mine tested a large chargeability anomaly which coincides with positive trench
sampling results and high-grade mineralization encountered in underground workings.

To date, significant exploration activity has been undertaken on the Los Rulos Project area, including some few drillholes, detail
geological mapping, magnetometry, IP surveys and detailed channel and rock chip sampling. Los Rulos is an exciting district-
regional play exhibiting historical and current mining activity where exploration has defined several areas of widespread
alteration and copper-gold-cobalt mineralization capable of hosting bulk mineable mineralization if continued exploration is
successful in discovering and outlining an economic resource. The mapping and exploration, has demonstrated interesting
geological features defining numerous mineralized zones surrounding pluton (of Superunidad Illapel) in the Los Rulos area.
While calc-silicate alteration is prevalent in mineralized areas, it seems unlikely that the altered mineralized zones are the result
of contact metasomatism around the pluton. Regional IOCG-type fluids are a realistic alternative fluid source/type focused in
structurally prepared reactive rocks around the pluton.

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 LOS RULOS IOCG PROJECT

Style of mineralization - potential

The dominant style on mineralization can classified as skarn – calc-silicate alteration with retrograde sulphide mineralization.
Copper-gold skarn systems form on the edge of magmatic-hydrothermal systems in reactive host rocks, typically within 1-2km
of the source intrusion.

The mineralization appears to exhibit structural and lithological controls over a considerable strike length. This may indicate
that the mineralizing fluid was of regional origin (IOCG-type) rather than a typical contact skarn. A more detailed understanding
of the structure on the property may help define and predict the location of better mineralization. The initial drilling, however,
suggests the presence of several pods of mineralization within a broader zone of alteration. It is possible that mineralizing
fluids flowed north to south from an intrusive or structural fluid source.

SIL
IC

Highlights (Cobalt)
 IOCG-style deposit discovered 5 year ago, only was tested for copper – gold.
 Levels of disseminated cobalt into the thousands of parts per million were later recognized in mineralized outcrop
and underground mine, trenches and drillholes with historical assays up to 0.85 % Co.
 Untested regional targets offering significant cobalt exploration potential.

About The Cobalt Market

Cobalt prices recently reached a 10 year high of $41.5 US per pound and have shown a steady increase since the mid-point
of 2015. Cobalt is an important component of many of the lithium-ion batteries used in a wide range of applications from cell
phones to electric vehicles (EV) and the home energy storage market. Driven primarily by the EV market demand for cobalt is
expected to remain strong and growing for the near future. Currently over 60% of the global supply of cobalt is sourced from
mines operating in the Democratic Republic of the Congo (DRC). Political instability in the DRC coupled with social-economic
issues surrounding mining in the country including reports of child labour have led many tech companies to seek supplies of
the metal from more stable jurisdictions.

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 LOS RULOS IOCG PROJECT

284000 286000 288000 290000

6542000

6542000
0,070,27
0,67
2,631,610,52
0,09
2,12 0,11
0,05 0,2
0,21 0,3
0,06
0,03

0,50,9
6,58
2,04 1,041,26
0,10,2 0,1
1,92
0,10,1 1,6
6540000

6540000
1,331,31

2,31
4,88 1,15 1,08
0,68 0,86
0,670,64 0,71
1,17
0,94 0,51,1 1,08
0,77 0,4 2,07
1,67 0,23 0,92
0,75
1,01
IOCG1
6538000

6538000
0,10,3
0,30,1 0,1 0,05

1,3 1,1
0,40,7 3,81 3,4
IOCG 2 4,18 0,1 0,6 0,64
0,10,6
0,74 1,85 0,1 0,1
IOCG 9 0,1 1
3,970,19 0,59 0,1 0,05
0,3 0,1 0,1
0,110,630,580,10,1
0,47 0,91
6536000

6536000
2,62 0,9
0,82 0,7
1,33 1,73

IOCG 6
6534000

6534000
IOCG 7
IOCG10

IOCG 8

284000 286000 288000 290000

Kilometers
Drill and Samples 0 0,5 1 2 3 4
CuEq
0,01 - 0,20 Structures
Tenements Los Rulos
0,21 - 0,50 Fault
Asesorias Geomineras Ltda.
0,51 - 1,00 Fault, Phtolinking
Armandiño 1/20
1,01 - 2,00 Fault, inferred.
CuEq= %Cu + (g/tAu*0,6123) + (g/tAg*0,00766) + (%Co*13,217).
2,01 - 15,00

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 LOS RULOS IOCG PROJECT

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 LOS RULOS IOCG PROJECT
UNDERGROUND MINE SAMPLES
East North Level CuT (%) Au (g/t) Ag (%) Co (%) Co (ppm) Fe (%) EqCu (%)
287426 6537370 764 0,10 0,04 1,0 0,026 260 15,00 0,48
287420 6537374 764 0,17 0,04 0,5 0,053 525 15,00 0,89
287421 6537369 764 0,18 0,05 0,5 0,024 243 15,00 0,54
287420 6537369 764 0,12 0,09 0,5 0,042 424 12,82 0,74
287423 6537367 764 1,02 0,17 1,0 0,025 251 12,07 1,47
287425 6537362 764 0,05 0,01 0,5 0,027 271 13,97 0,42
287428 6537359 764 0,21 0,14 1,0 0,030 296 15,00 0,70
287426 6537362 764 0,71 0,13 0,5 0,101 1005 15,00 2,12
287426 6537354 764 0,28 0,06 2,0 0,029 289 14,48 0,71
287431 6537346 764 0,24 0,01 1,0 0,002 18 2,99 0,28
287429 6537345 764 0,07 0,01 0,5 0,003 26 6,04 0,12
287432 6537347 764 0,45 0,07 2,0 0,007 71 2,69 0,61
287437 6537337 764 0,21 0,21 8,0 0,126 1258 8,03 2,06
287442 6537329 764 0,19 0,03 0,5 0,006 57 7,09 0,29
287446 6537323 764 0,62 0,12 1,0 0,007 65 4,32 0,79
287448 6537325 764 0,94 0,11 1,0 0,014 140 6,79 1,20
287444 6537322 764 0,42 0,06 0,5 0,007 66 10,47 0,54
287443 6537321 764 0,38 0,06 0,5 0,008 82 9,04 0,53
287441 6537319 764 0,25 0,03 4,0 0,006 64 8,00 0,38
287440 6537317 764 0,06 0,01 0,5 0,003 34 7,05 0,11
287458 6537333 764 0,03 0,01 0,5 0,003 27 11,41 0,08
287462 6537333 764 0,36 0,11 0,5 0,005 46 10,15 0,49
287462 6537328 764 0,81 0,28 1,0 0,006 63 7,20 1,07
287465 6537324 764 0,93 0,13 2,0 0,008 79 13,38 1,13
287461 6537325 764 1,67 0,29 3,0 0,018 182 12,16 2,11
287457 6537323 764 0,40 0,10 0,5 0,011 106 9,13 0,60
287454 6537322 764 0,04 0,02 0,5 0,007 73 6,47 0,16
287453 6537320 764 0,37 0,06 0,5 0,015 145 6,83 0,60
287456 6537302 764 1,33 0,43 2,0 0,011 110 15,00 1,75
287453 6537303 764 0,71 0,26 1,0 0,013 125 15,00 1,05
287451 6537302 764 0,21 0,05 0,5 0,007 69 9,68 0,34
287447 6537302 764 0,32 0,05 0,5 0,009 91 6,45 0,47
287443 6537303 764 0,21 0,04 0,5 0,008 84 7,86 0,35
287424 6537355 764 0,45 0,09 0,5 0,021 213 15,00 0,79
287431 6537356 764 0,69 0,09 2,0 0,041 409 12,67 1,30
287461 6537291 764 0,88 0,18 0,5 0,005 50 15,00 1,06
287458 6537290 764 0,68 0,23 2,0 0,006 59 15,00 0,92
287456 6537289 764 0,19 0,06 0,5 0,006 58 8,25 0,31
287454 6537289 764 0,12 0,04 0,5 0,006 56 10,45 0,22
287453 6537290 764 1,29 0,50 3,0 0,008 82 15,00 1,72
287452 6537292 764 0,01 0,01 0,5 0,005 50 9,22 0,09
287452 6537295 764 0,08 0,02 0,5 0,003 30 15,00 0,14
287454 6537297 764 1,05 0,37 3,0 0,010 95 15,00 1,43
287456 6537297 764 0,98 0,36 4,0 0,010 95 15,00 1,36
287459 6537299 764 0,76 0,25 5,0 0,004 38 9,76 1,00
287460 6537300 764 1,23 0,28 2,0 0,085 851 6,70 2,54
287461 6537300 764 0,41 0,06 0,5 0,003 26 7,57 0,48
287466 6537292 764 2,74 0,28 9,0 0,027 274 12,70 3,34
287468 6537282 764 1,04 0,18 2,0 0,051 506 12,38 1,84
287475 6537275 764 0,02 0,01 0,5 0,004 37 9,03 0,08
287473 6537274 764 0,25 0,23 2,0 0,256 2564 5,57 3,80
287480 6537267 764 0,04 0,06 0,5 0,045 449 7,27 0,67
287487 6537261 764 0,87 0,19 1,0 0,006 63 6,97 1,07
287497 6537250 764 0,85 0,15 0,5 0,011 105 10,05 1,08
287495 6537249 764 2,50 1,03 13,0 0,720 7195 15,00 12,74
287498 6537250 764 0,25 0,08 0,5 0,005 53 15,00 0,37
287502 6537241 764 1,51 0,42 1,0 0,012 117 11,05 1,93
287509 6537234 764 1,22 0,80 5,0 0,859 8593 8,54 13,11
287516 6537227 764 2,34 0,68 6,0 0,036 356 14,77 3,27
287522 6537220 764 0,14 0,04 0,5 0,004 44 7,40 0,22
287521 6537219 764 2,54 0,52 4,0 0,039 386 14,85 3,40
287523 6537221 764 0,06 0,04 0,5 0,005 46 7,28 0,14
287528 6537213 764 2,07 0,72 3,0 0,025 246 10,38 2,86
287535 6537206 764 1,51 0,76 2,0 0,009 90 14,14 2,11
287535 6537201 764 2,43 0,79 3,0 0,010 95 15,00 3,06
287534 6537196 764 0,50 0,13 1,0 0,003 25 7,61 0,62
287532 6537195 764 1,88 0,62 4,0 0,011 114 8,36 2,44
287536 6537197 764 1,80 0,61 2,0 0,006 58 15,00 2,27
287540 6537189 764 5,20 0,75 4,0 0,018 177 11,71 5,93
287546 6537180 764 0,73 0,07 0,5 0,003 32 7,42 0,82
287552 6537172 764 1,24 0,35 2,0 0,007 67 15,00 1,56
TOTAL 0,80 0,22 1,86 0,043 428,86 10,76 1,51

Note: Most of the samples were taken outside the veins, looking for disseminated mineralization. CuEq= %Cu + (g/tAu*0,6123) +
(g/tAg*0,00766) + (%Co*13,217). Values calculated using Cu Price: 3,14 US$/pound. Au Price: 1323 US$/oz. Silver Price: 16,56 US$/oz.
Cobalt Price: 41,5 US$/pound. Copper - Equivalent values do not take into account the recoverability of gold. The Iron was not included.
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 LOS RULOS IOCG PROJECT

(770 m)

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