PROGRESS REPORT

DATE: September 06th, 2022

PROJECT: Red Chris
CLIENT: Newcrest Mining Ltd
PERIOD OF WORK: August 29th - September 04th, 2022
LOCATION: Red Chris Mine, B.C.
CONTACT #: 604-688-9806 (Vancouver office)
604-800-9200 ext. 417 (Red Chris Mine)

SUMMARY
Exploration:

A total of 2271.9 m was drilled since August 29th, for a total of 269,371.3 m since 2019 program
commencement. A summary of drilling activities from August 29th - September 04th, 2022 is
presented in Table 1.

Table 1: Summary of Drilling Activities from August 29th to September 04th, 2022.
Current Planned
Hole ID Rig ID Prop ID Section Target Depth Depth TruScan Y/N Hole Status
RC842 HYT28 ER_close_P1_006 NW40 ER 1753.6 1900 Y Completed
RC846 HYT47 exp21_065 NW41 ER 1277.3 1800 Y In Progress
RC848 HYT48 ER_close_P1_004 NW38 ER 1175.3 2100 Y In Progress
RC853 HYT45 ER_close_P2_001 NW32 ER 557.1 1700 Y In Progress
RC854 UG17 exp22_005 NW42 ER 608.7 1700 Y In Progress
RC855 UG18 exp22_008 NW43 ER 470.7 1250 Y In Progress
RC856 HYT26 exp22_053 NW12 MZ 486.0 950 Y In Progress
 HEALTH & SAFETY
A summary of inspections conducted throughout the week is presented in Table 2.

Table 2: Summary of CCM checks conducted from August 29th to September 04th, 2022.
Inspection Type No. of Inspections Description

Weekly 8 HYT26, UG17, UG18, LV136, LV139, LV140, coreshack and skid steer

FCCC/ OCCC 8 Driving (x2), remote work (x2), HYT28, HYT45, HYT47 and HYT48
Drill line up, gyro survey, leveling gravel at coreshack front entrance, coreshack clean up,
FLHA 6 mapping and chip sampling

There was one incident in the exploration department this week.

While removing rods out of the hole on Drill 47, a 9m rod string made contact with the rod rack frame.
While a Drilling Offsider attempted to reposition the rod string, the rod string integrity failed and a 6m
length of rods dropped to the ground.
 Drilling
A total of 2271.9 m was drilled from August 29th - September 04th, 2022 for the 7 rigs allocated to
exploration and resource definition drilling, which is in line with the targeted total of 2,205 m (45
m per rig per day).
Drill production rates for individual rigs are summarised below in Table 3.

Table 3: Weekly drill rig metre rate and average for drilling ending September 04th
Drill Rig Drilled metres No. Of Shifts Drilling Avg. m per shift
UG17 314.0 14 22.4
UG18 470.7 14 33.6
HYT26 474.0 14 33.9
HYT04 44.6 14 3.2
HYT45 474.0 14 33.9
HYT47 213.0 14 15.2
HYT48 281.6 14 20.1

TOTALS 2271.9 98.0 23.2

Table 4: Summary of significant intersects (in metres) ending September 04th

Most significant intercept to date
Current Planned TruScan (TruScan XRF)
Hole ID Proposed ID Target Section P2 From P2 To
Depth Depth (Y/N)
Depth Depth
From To Cu (%)
RC842 ER_close_P1_006 ER NW40 1753.6 1900 1055 1685 Y 1233 1632 0.42
RC846 exp21_065 ER NW41 1277.3 1800 1128 1275 Y 1145 1265 0.18
RC848 ER_close_P1_004 ER NW38 1175.3 2100 N/A N/A Y N/A N/A N/A
RC853 ER_close_P2_001 ER NW32 557.1 1700 N/A N/A Y N/A N/A N/A
RC854 exp22_005 ER NW42 608.7 1700 N/A N/A Y N/A N/A N/A
RC855 exp22_008 ER NW43 470.7 1250 N/A N/A Y N/A N/A N/A
RC856 exp22_053 MZ NW12 486.0 950 116 485 Y 191 390 0.24
 The status of current drill holes is summarized below in Table 5. The location of these drill holes
is presented in Appendix A and cross sections with drill hole summaries in Appendix B.

Table 5: Red Chris Brownfields Exploration drill hole status on September 04th.
Azimuth Planned Current Completion
Hole_ID Prop_ID Target Easting Northing RL Dip Hole Status
(Grid) Depth Depth Date
RC842 ER_close_P1_006 ER 453731 6396993 1363 -55.5 147.1 1900 Completed 1753.6 31-Aug-22
RC846 exp21_065 ER 453831 6397026 1352 -57.0 145.0 1800 In Progress 1277.3
RC848 ER_close_P1_004 ER 453481 6397024 1443 -57.2 145.1 2100 In Progress 1175.3
RC853 ER_close_P2_001 ER 453109 6396596 1442 -62.8 154.5 1700 In Progress 557.1
RC854 exp22_005 ER 453896 6397057 1098 -53.1 144.1 1700 In Progress 608.7
RC855 exp22_008 ER 454037 6397102 1122 -40.0 148.0 1250 In Progress 470.7
RC856 exp22_053 MZ 451306 6395596 1435 -59.9 147.1 950 In Progress 486.0
Pad Building and Earth Moving
Earthworks this week focused on working at 8.5 km laydown, reclaiming pads, removing cuttings
bags and building pads at East Ridge

Table 6: Summary of pad building on September 04th. “Constructed” drill pads are prepared for the drill to move onto
them. “Pre-Drilling” pads have been built and require final inspection. “In Progress” drill pads are currently being
constructed. “Pre-disturbance” pads have been staked and inspected prior to beginning work on the pads.
Planned Planned Planned Azimuth
Pad ID Target Dip Pad Status
Easting Northing RL (TN)

ER_close_P2_001 East Ridge 453110 6396593 1441 -64.5 155 Constructed

ER_close_P2_002 East Ridge 453058 6396955 1466 -61.0 149 Pre-Disturbance

ER_close_P2_003 East Ridge 453208 6396916 1463 -65.5 150 In Progress

ER_close_P2_004 East Ridge 453583 6396466 1408 -52.2 150 Constructed

ER_close_P2_005 East Ridge 453260 6397060 1470 -60.0 152 Constructed

ER_close_P2_007 East Ridge 453332 6397101 1467 -59.5 150 In Progress

ER_close_P2_008 East Ridge 453396 6397223 1469 -57.8 151 Pre-Disturbance

ER_close_P2_009 East Ridge 453775 6396536 1398 -46.4 150 Constructed

ER_close_P2_011 East Ridge 453889 6396750 1348 -52.0 150 Constructed

ER_close_P2_012 East Ridge 453758 6397017 1076 -66.0 151 Constructed

exp22_001 East Ridge 453895 6397060 1099 -34.2 147 Constructed
exp22_002 East Ridge 453895 6397060 1099 -40.0 147 Constructed
exp22_003 East Ridge 453895 6397060 1099 -45.6 147 Constructed
exp22_006 East Ridge 453896 6397061 1099 -55.5 147 Constructed
exp22_009 East Ridge 454038 6397103 1122 -47.8 151 Constructed
exp22_010 East Ridge 454038 6397103 1122 -52.6 151 Constructed
exp22_011 East Ridge 454038 6397104 1122 -57.2 151 Constructed
exp22_012 East Ridge 454038 6397104 1122 -57.2 151 Constructed
exp22_052 Main Zone W 451264 6395479 1448 -60.0 150 Pre-Disturbance

exp22_053 Main Zone W 451319 6395583 1437 -60.0 150 Constructed

 Red Chris - HYTECH - Daily Drill Production (m / day)
140 UG17
Standby -
incident
EOH, UG18
cementing Cementing Cementing
120 Cementing Demob
HYT26
Standby - HYT28
incident
100
HYT45
Meters / Day

80 HYT47

HYT48
60 Project Drill
Average
40

20

0
29-Aug 30-Aug 31-Aug 01-Sep 02-Sep 03-Sep 04-Sep

Figure 1a: HyTech Drilling – Daily Drill Production: August 29th to September 04th, 2022.
 Total metres per day
Red Chris Exploration Drilling - Total Metres per Day
600 5 Day Mov. Avg.

500
Total Metres/Day

400

300

200

100

Figure 1b: Total Daily Drill Production: August 04th to September 04th, 2022.
Core Processing
The processing status of drillholes and weekly production is presented in Table 7.

Table 7: Red Chris exploration core processing status (in metres) to September 04th, 2022.

Current Mark Up & Detailed Cut &

Hole ID Quick Log Photos
Depth Basic Geotech Geology Sampled

RC837 926 926 926 926 926 304

RC838 815 815 815 815 815 0
RC840 1979 1979 1979 1979 1979 1979
RC841 1576 1576 1576 1576 1576 1576
RC842 1754 1754 1754 1754 1754 1270
RC845 1086 1085 1086 1086 1086 1086
RC846 1277 1259 1277 1275 1267 595

RC847 233 233 233 233 233 0

RC848 1175 1043 1169 1169 1150 986

RC849 200 200 200 200 200 0

RC850 200 200 200 200 200 0

RC851 250 250 250 250 250 0

RC852 230 229 230 230 230 0

RC853 557 344 557 387 468 43

RC854 609 500 603 530 575 294

RC855 471 400 470 319 411 0

RC856 486 312 485 304 389 0

Backlog 718 14 591 315 5692

Weekly Production 1788 2333 2512 2229 1290

Sample Despatching and Quality Control

The status of sample shipments despatched, and assay results received this week is presented
in Table 8.

Table 8: Sample despatch summary up to September 04th, 2022.

Description No. Shipments Total No. of Samples
Shipments Returned 8 895
Shipments Despatched 8 720
Shipments in Process 69 5,943
Shipments in Transit 10 973
PERSONNEL

Equity accounted for a total of 63 personnel days on site between August 29th - September 04th
(Table 9).

Table 9: Equity staffing numbers on site from August 29th to September 04th.
Equity Staff Member Job Title 29-Aug 30-Aug 31-Aug 01-Sep 02-Sep 03-Sep 04-Sep
Fernando Costa Project Geologist 1 1 1 1 1 1 1
Julien Meric Geologist 1 1 1 1 1 1 1
James Coley Geologist 1 1 1 1 1 1 1
David Deossa Junior Geologist 1 1 1 1 1 1 1
Oliver James Junior Geologist 1 1 1 1 1 1 1
Faaz Khan Geotechnician 1 1 1 1 1 1 1
Jason Wong Exploration Assistant 1 1 1 1 1 1 1
James Teegee Core Cutter 1 1 1 1 1 1 1
Michelle Jacques Geologist 1 1 1 1 1 1 1
Total Staff on Site: NCM22-01 9 9 9 9 9 9 9

FINANCIAL

An estimated $1,171,900.00 ± 2% has been spent on Equity staffing for the period from January 1st to
September 04th, 2022 (Table 10). This total does not include the cost of other contractors including
earthworks and drill contractors.

Table 10: Red Chris 2022 Equity staffing expenditure January 1 st, 2022 to September 04th, 2022.
Summary of Expenditures by Category
Wages (Equity) $1,171,900.00
Equity Rentals $ -
Other (D&A and medical tests,
travel)
Total $1,171,900.00
OUTLOOK
A summary of the current and future sites for active drill rigs is presented in Table 11.

Table 11: Summary of current and future sites for active drill rigs on September 04th.
Hole ID Rig ID Current Site Next Site
RC846 HYT47 exp21_065 ER_close_P2_002
RC848 HYT48 ER_close_P1_004 ER_close_P2_003
RC853 HYT45 ER_close_P2_001 ER_close_P2_004
RC854 UG17 exp22_005 exp22_003
RC855 UG18 exp22_008 exp22_009
RC856 HYT26 exp22_053 exp22_052
RC857 HYT04 ER_close_P2_005 ER_close_P2_008

For the coming week, work will consist of:

• Earthmoving and TNDC operator activities:
o Pad reclamation at Main Zone
o Expanding core laydown at 8.5km
o Capping Gully and Far West Rd.
o Cuttings bags removal as necessary
o Pad building at East Ridge and Main Zone

Fernando Costa
Equity Exploration Consultants Ltd.
APPENDIX A: In Progress Drilling 2022
APPENDIX B: Cross-sections and Drill hole summaries
Main Zone Section NW12 (RC856)
HoleID: RC856 Prospect: Main Zone Current Depth: 486 m
Azimuth (Grid): 147.1 Planned Depth: 950 m Collar East: 451306 mE
Dip: -59.9 Planned ID: Exp22_053 Collar North: 6395596 mN
Logging Geologists: Julien Meric Collar RL: 1435 m

Purpose:
RC856 is an exploration drillhole on section NW12 at the Main Zone prospect. It is designed to target westward
continuation of the 1g/t AuEq grade shell intersected in RC666 (217 m @ 0.98 g/t AuEq from 234 m), as well as
higher grade at depth.
Geology:
• TOH – 66.55 m: P1 cut Mafic Dykes (MFD)
• 66.55 – 116.2 m: Late P2 with Stuhini Group Sedimentary rocks (SGS) septa
• 116.2 – 485.55 m: P2 intermediate porphyry with multiple intrusive igneous breccia (IBX) intervals
containing mineralized porphyry clasts. It is cut by multiple late P2, weakly mineralized and locally
unmineralized P3 dykes.

Alteration:
• TOH – 190 m: Moderate to strong phyllic (PHY) alteration
• 190 – 265 m: Moderate potassic (POT) alteration with moderate to strong local intermediate argilic
alteration (IA) overprint
• 265 – 485 m: Moderate PHY overprinting moderate POT alteration with moderate to strong patchy IA

Mineralization:
• TOH – 66.55 m: Unmineralized. Contains 3-5 % Py associated with PHY alteration
• 66.55 – 159 m: Trace early quartz veins (eQtz) with trace chalcopyrite (Cp). 2-5 % gypsum veins
• 159 – 190 m: Unmineralized. 1-2 % gypsum veins.
• 190 – 485 m: 3-5% eQtz veins with minor eQtz-Mt present as vein clasts in IBX intervals or sub-planar
and irregular in the matrix. Mineralisation is diluted by multiple weakly mineralized late P2 (< 1 % eQtz
veins) and unmineralized P3 dykes.

Structure:
• 116 – 160 m: Multiple fault gouge intervals, 100 – 1000 mm wide.

Contacts between late P2 and P2 IBX are often faulted with gouge infill. P3 contacts are either fault gouge or
intrusive contacts with chill margins.
Conclusion and Recommendations:
Two mineralized intervals have been intersected:
- 125 m of 0.28 % Cu from 191 m, hosted by P2 intermediate IBX
- 52 m of 0.3 % Cu from 338 m, hosted by P2 intermediate IBX (likely continuing to 485 m, however,
Truscan data available only to 390 m)

Both mineralized intervals are diluted by late P2 dykes (with Cu < 0.1 %) and unmineralized P3 dykes. Contacts
with mineralized P2 and IBX are often faulted or intrusive. Additional holes are recommended down-dip to further
understand P3 and late P2 dyke’s structural behaviours.
East Ridge Section NW32 (RC853)
Hole ID: RC853 Prospect: East Ridge Current Depth: 557.1 m
Azimuth (GRID): 154.5 Planned Depth: 1700 m Collar East: 453108.83 mE
Dip: -62.8 Planned ID: ER_close_P2_001 Collar North: 6396595.66 mN
Logging Geologists: Michelle Jacques Collar RL: 1430.01 mRL

Purpose:
RC853 is an exploration drillhole on section NW32 at the East Ridge prospect. It is designed as to target the
100m down-dip extension of higher-grade intersected in RC696 (334 m @ 0.78 g/t AuEq from 802 to 1138 m) and
will help define the lower extent of mineralization on section.
Geology:
• 43 – 63 m: Stuhini Group Sedimentary rocks (SGS)
• 63 – 177 m: P1 cut by mafic dykes (MFD)
• 177 – 387 m: P1 intrusion
• 387 – 557.1 m: SGS rocks cut by a P1 dyke

Alteration:
• 43 – 63 m: Weak propylitic (PROP)
• 63 – 169 m: Moderate PROP and intermediate argillic (IA) occurring variably
• 169 – 185 m: Weak to moderate phyllic (PHY)
• 185 – 387 m: Pervasive moderate IA and intermittent weak PHY
• 387 – 557.1 m: Moderate PHY

Structural:
• 183 – 184.5 m: Fault zone of two distinct generations: a moderately healed brittle-deformation zone with
gouge matrix and a second fully healed zone with 15 % base metals and a grey fine-grained cement.

Mineralization:
• 43 – 139 m: Trace pyrite (Py)
• 139 – 200 m: Variably 1-3 % Py
• 200 – 443 m: Variably 1-10 % Py
• 443 – 557.1 m: 5-10 % Py

Conclusion and Recommendations:

A strike-slip fault is present at 183 m - a splay from the South Boundary Fault Zone (SBFZ) on section NW32. The
50 - 100 m structural offset of pre-mineral P1 and country rock Stuhini Group is attributed to a normal fault. This
fault’s location and orientation is congruent with an approximation of the EZ Fault and possibly attributed to it.
Further drilling is needed to see if it extrapolates at depth where mineralization is anticipated.
East Ridge Section NW38 (RC848)
HoleID: RC848 Prospect: East Ridge Current Depth: 1145 m
Azimuth (Grid): 145.1 Planned Depth: 2100 m Collar East: 453481 mE
Dip: -57.2 Planned ID: exp21_053_ext Collar North: 6397024 mN
Logging Geologists: Ian Betts, Michelle Jacques, David Escobar Deossa Collar RL: 1443 m

Purpose:
RC848 is a resource definition drillhole on section NW38 at the East Ridge prospect. It is designed to target the
100 m down-dip extension of higher-grade intersected in RC740 (128 m @ 2.5 g/t AuEq from 1480 to 1608 m)
and will help define the lower extent of mineralization on section.
Geology:
• TOH – 1061 m: Stuhini Group sedimentary rocks (SGS) and minor Stuhini Group volcanic rocks (SGV).
Stuhini Group rocks are cut by mafic dikes (MFD) up to 39 m
• 1061 – 1139 m: Plagioclase and hornblende phyric P1 cut by MFD and glomeroporphyritic dykes.
• 1139 – 1145 m: Massive sandstone with lesser interbedded siltstone

Alteration:
• TOH – 302 m: Unaltered
• 302 – 623 m: Local weak propylitic (PRO) alteration in SGS. Weak intermediate argillic (IA) in MFD’s
• 623 – 892 m: Unaltered with local weak PRO alteration
• 892 – 1145 m: Weak to moderate PRO alteration with patchy unaltered rocks
•

Structural:
• No significant structures intersected to the current depth.

Mineralization:
• TOH – 1061 m: Local <1% pyrite in the host rock and quartz-carbonate veins
• 1061 – 1139 m: <1% pyrite in the host rock, unmineralized in the glomeroporphyritic dyke
• 1139 – 1145 m: <1% pyrite in the host rock
•

Conclusion and Recommendations:

RC848 is the furthest hole down-dip on section NW38 and is currently drilling through a large package of Stuhini
Group and a minor unmineralized P1 unit. No change to current interpretation as of the current depth.
The mafic dykes are crosscut by the glomeroporphyritic dykes evidenced by MFDclasts found in the latter.The
projected down-dip extension of early P2 is estimated to be intersected at 1400 m, which will help define extent
and geometry of the 1.0 g/t AuEq grade shell.
East Ridge Section NW40 (RC842)
HoleID: RC842 Prospect: East Ridge Final Depth: 1753.6 m
Azimuth (Grid): 146.9 Planned Depth: 1900 m Collar East: 453730.64 mE
Dip: -55.5 Planned ID: exp21_061 Collar North: 6396993.15 mN
Logging Geologists: James Coley, Ethan Hardie, Michelle Jacques Collar RL: 1362.66 mRL

Purpose:
RC842 was a resource definition drillhole on section NW40 at the East Ridge prospect. It was designed to target
the 100 m down-dip extension of higher-grade intersected in RC793 m (255 m @ 1.0 g/t AuEq from 1112 to 1367
m) and RC701 (198 m @ 1.2 g/t AuEq from 1816 to 2014 m).
Lithology:
• TOH – 345 m: Stuhini Group Sedimentary rocks (SGS) cut by 3 mafic dykes (MFD).
• 345 – 530 m: SGS cut by 3 phyric pre-mineral P1 intrusions.
• 530 – 1055 m: SGS cut by 7 phyric pre-mineral P1 phyric intrusions and later MFD intrusions.
• 1055 – 1172 m: Phyric syn-mineral P2 Late (P2L) intrusion.
• 1172 – 1273 m: SGS cut by phyric syn-mineral P2L intrusions.
• 1273 – 1355 m: Phyric syn-mineral P2I intrusion.
• 1355 – 1427 m: Phyric post-mineral P3 intrusion.
• 1426 – 1685 m: Phyric syn-mineral P2I intrusion cut by later P2L intrusions.
• 1685 – 1736 m: Phyric pre-mineral P1 intrusion containing septas of SGS.
• 1736 – 1753.6 m: Unmineralized SGS

Alteration:
• TOH – 390 m: Dominantly fresh with localized weak phyllic (PHY) alteration.
• 390 – 720 m: Weak PHY alteration with hematite staining proximal to P1 intrusions.
• 720 – 816 m: Moderate propylitic (PROP) alteration with weak PHY alteration locally overprinting PROP
alteration.
• 816 – 959 m: Moderate to strong PHY alteration.
• 959 – 1032 m: Moderate PHY alteration overprinting weak potassic (POT) alteration.
• 1032 – 1355 m: Moderate POT alteration gradually increasing to strong POT alteration past 1312 m,
locally overprinted by moderate intermediate argillic alteration (IA).
• 1355 – 1426 m: Moderate PROP alteration.
• 1426 – 1493 m: Moderate calc-potassic alteration (CAL).
• 1493 – 1690 m: Moderate POT alteration locally overprinted by IA alteration.
• 1690 – 1736 m: Weak PHY alteration weaning down hole.

Structural:
• 175 – 195 m: Zone of moderate fault gouge.
• 730 – 859 m: Highly fractured zones with fault gouge: South Boundary Fault Zone.

Mineralization:
• TOH – 720 m: Trace disseminated pyrite (Py).
• 720 – 1032 m: Patchy disseminated Py at 1 - 3 % abundance. Trace thin Py stringer veins.
• 1032 – 1172m: 1 - 3 % early quartz (eQTZ) and early quartz magnetite (eQM) veins hosting Py >>
chalcopyrite (Cp). Truscan values returned 0.19 % Cu for the interval.
• 1172 – 1273 m: 1 – 5 % eQTZ and eQM veins hosting 1 – 3 % Py >> Cp. Truscan returned 0.31 % Cu.
• 1273 – 1312 m: 1 - 5 % eQTZ veins hosting 1 - 3 % Cp – Py. Truscan returned 0.55 % Cu.
• 1312 – 1355 m: 1 - 5 % eQTZ veins hosting 1 - 3 % Cp > Bornite (Bn). Truscan returned 0.6 % Cu.
• 1355 – 1426 m: <1 % Py > Cp and no early veins. Trace Cu from Truscan
 • 1426 – 1493 m: 1 - 5 % eQM and 1 - 3 % Cpy - Py > Bn. Up to 10 % eQTZ veins. Truscan returned 0.58
% Cu.
• 1493 – 1540 m: 1 - 5 % eQTZ veins hosting 1 - 3 % Cp – Py > Bn. Truscan returned 0.48 % Cu.
• 1540 – 1554 m: 1 – 3 % eQTZ veins (some brecciated) hosting < 1 % Py – Cp. Truscan returned 0.26 %
Cu.
• 1554 – 1635 m: 1 – 5 % eQTZ veins hosting 1 - 3 % Py > Cp. Truscan returned 0.39 % Cu.
• 1635– 1685 m: 1 – 3 % veins hosting < 1 % Py > Cp. Truscan returned 0.2 % Cu
• 1685 – 1753.6 m: < 1% eQM veining hosting < 1 % Py >> Cp. Trace Cu from Truscan

Conclusion and Recommendations:

RC842 correlates well in terms of vertical continuity of mineralization and geology to up-dip hole RC793. RC842
intersects SGS and P2I between 1244 - 1355 m that contains a 111 m intercept of 0.56 % Cu (Truscan XRF assays).
RC842 intersects a dilutive P3 intrusion between 1356 - 1427 m, which is vertically continuous and 25 m wider than
up-dip hole RC793. Downhole of the P3 intrusion, RC842 intersected P2I between 1428 – 1636 m which contains
a 208 m intercept of 0.46 % Cu (Truscan assays).
RC842 intersects unmineralized P1 containing septas of SGS at 1685 m along a faulted contact, aligning with up-
dip projections from RC701 and RC797; up-dip hole RC809 indicates that RC842 would likely intersect
unmineralized P1 and SGS to 1900 m (planned end of hole). Due to this projection, RC842 was terminated at
1753.6 m depth.
Bn mineralization is vertically continuous to RC793 and likely associated with P2I intrusion. Bn is observed past
1240 m up-hole of the P3 intrusion and to 1595 m down-hole of the P3 intrusion. This confirms Bn mineralization
extends down-dip of RC797 and RC701.
It is recommended that a further extension hole is stepped back from RC842 and drilled to 1900 m (which can be
terminated past P1 contact), to target and outline the Bn zone down-dip of RC842.
East Ridge Section NW41 (RC846)
Hole ID: RC846 Prospect: East Ridge Current Depth: 1275 m
Azimuth (Grid): 145.0 Planned Depth: 1800 m Collar East: 453830.57 mE
Dip: -57.0 Planned ID: exp21_065 Collar North: 6397025.51 mN
Logging Geologists: James Coley, Oliver James, Michelle Jacques Collar RL: 1352.13 m
Purpose:
RC846 is a resource definition drillhole on section NW41 at the East Ridge prospect. It is designed to test the up-
dip extension of higher-grade intersected in RC701 (1592 – 1574 m at 0.41 % Cu and 1817 – 2020 m at 0.53 %
Cu) missed by RC804W. This will help define the 300Mt upper exploration target for Phase 1 and Phase 2 drilling
at East Ridge.
Lithology:
• 39 – 342 m: Stuhini Group Sedimentary (SGS) rocks intersected by two 3-6 m wide P1 dykes.
• 342 – 367 m: Stuhini Group Volcanic rocks cut by a 7 m P1 dyke at 354 m.
• 367 – 830 m: SGS rocks intersected by five P1 dykes 5 – 30 m wide. MFDs are intersected between 811
– 830 m.
• 830 – 1145 m: P1 dominant with septas of SGS.
• 1145 – 1250 m: SGS cut by a 25 m wide syn-mineral plagioclase phyric P2L dyke. Dykes contain sparse
early veining (<1%) and an average Truscan value of 0.17 % Cu.
• 1250 – 1275 m: Syn-mineral hornblende phyric P2L igneous breccia (IBX).

Alteration:
• 39 – 259 m: Unaltered.
• 259 – 262 m: Intermediate argillic (IA).
• 262 – 342 m: Unaltered.
• 342 – 630 m: Dominantly weak propylitic (PROP).
• 630 – 783 m: Variably fresh and IA altered.
• 783 – 830 m: Weak PROP.
• 830 – 1145 m: Strong phyllic (PHY).
• 1145 – 1275 m: Moderate to intense potassic (POT) alteration becoming stronger with depth.

Structural:
• 727 – 832 m: South Boundary Fault Zone (SBFZ) with several faulted contacts.
• 847 - 848 m: Hot fault absent from RC804W and RC701.

Mineralization:
• 39 – 832 m: Less than 0.5 % pyrite (Py) with <0.1% chalcopyrite (Cp) locally observed in late veins and
rarely in groundmass.
• 832 – 974 m: 5 - 10 % Py disseminated in groundmass and in late veins.
• 974 – 1145 m: Decrease to 3 – 5 % Py disseminated in groundmass and reduction in late veins intensity.
Trace Mo in quartz-carbonate veins.
• 1145 – 1275 m: Spare early quartz and magnetite veins (<1 %) hosting Py > Cp. Disseminated Cp (0.25
– 0.75 %) and Py (1 – 2 %). Truscan values returned a 135 m interval average at 0.2% Cu.

Conclusion and Recommendations:

RC846 is ongoing and to the current depth (1275 m) correlates well with all holes on section NW41. P1 dykes are
continuous across section and intersected at depths; 602 – 630 m, 732 – 736 m and 967- 1024 m. MFDs
intersected at 811 – 830 m also correlate to adjacent holes. The P3 dykes intersected in RC701 (1162 – 1200 m
and 1208 -1227 m) contrast this and do not correlate with RC846 or any other holes on section NW41. The SBFZ
is situated where anticipated between 727 – 832 m.

Increasing intensity of alteration from moderate PHY to intense POT between depths 830 – 1275 m suggests an
increase in depth within the system. This correlates with the increasing mineralization intensity.
East Ridge Section NW42 (RC854)
HoleID: RC854 Prospect: East Ridge Current Depth: 603 m
Azimuth (Grid): 144.1 Planned Depth: 1700 m Collar East: 453895 mE
Dip: -53.1 Planned ID: Exp22_005 Collar North: 6396439 mN
Logging Geologists: Julien Meric, Oliver James Collar RL: 1098 m

Purpose:
RC854 is an underground exploration drillhole on section NW42 at the East Ridge prospect. It is designed to
target the 100m down-dip extension grade intersected in RC841 and to test eastward continuation of the 1g/t
AuEq grade shell.
Geology:
• TOH – 459 m: Stuhini Group Sedimentary rocks (SGS) cut by P1 dykes and mafic dykes (MFD)
• 459 – 603 m: P1 with SGS septa cut by MFD

Alteration:
• TOH – 241 m: Fresh
• 241 – 459 m: Fresh with patchy weak albite alteration affecting bedded SGS
• 459 – 603 m: Fresh moderate Propylitic (PRO) alteration with patchy structurally controlled intermediate
argillic (IA) alteration

Mineralization:
• TOH – 603 m: Unmineralized with trace pyrite (Py)

Structural:
No significant structures encountered to current depth. South Boundary Fault is expected to be intersected after
600 m
Conclusion and Recommendations:
Drilling is in progress. Target depth is expected around 1300 m.
East Ridge Section NW43 (RC855)
HoleID: RC855 Prospect: ER Current Depth: 470 m
Azimuth (Grid): 148 Planned Depth: 1250 m Collar East: 454037 mE
Dip: -40.0 Planned ID: exp22_008 Collar North: 6397102 mN
Logging Geologists: Michelle Jacques Collar RL: 1121 m

Purpose:
Underground exploration hole aiming to test the easterly extension of higher-grade mineralization within the
porphyry corridor. More specifically, drilling on section NW43 testing 100 m eastward step and 200 m up-dip
extension of moderate mineralization intersected in RC841 (440 m @ 0.19 % Cu from 1050 m - Truscan results).
Lithology:
• 0 – 341 m: Stuhini Group Sedimentary (SGS) rocks cut by late mafic dykes (MFD)
• 341 – 347 m: SGS siltstone with 1-5 % early quartz-magnetite vein clasts
• 347 – 470 m: SGS rocks and P1 Porphyry

Alteration:
• 0 – 265 m: Unaltered SGS
• 265 – 420 m: Variable IA alteration with localized weak phyllic and weak propylitic (PROP)
• 420 – 462 m: Weak IA
• 462 – 470 m: Moderate PROP

Mineralization:
• 0 – 341 m: Trace pyrite (Py)
• 341 – 347 m: 1-5 % brecciated eQtz clasts bearing 1-3 % chalcopyrite (Cp)-Py and a 5cm-wide semi-
massive Cp > Arsenopyrite (Asp) > Py vein. No mineralization in groundmass.
• 347 – 470 m: Variably trace and 1-3 % Py

Structural:
• 182.3 m – 182.6 m: Parallel and intermittent fault cataclasite planes in the centre of a MFD.
• 420 – 460 m: South Boundary Fault Zone (SBFZ)

Conclusion and Recommendations:

RC855 is the first hole on Section NW43. Anticipated starting depth of mineralization is ~1050 m.