Cascavel Mine

High grade underground mine

• Comprised of narrow pinch and swell gold shoots, open down dip and along strike.

• Potential to be a high-grade mine.

• Cascavel consistently returning high-grade panel samples.

• US$8M Gekkogravity plant commissioned end of 2016.

• Adding flotation circuit is expected to dramatically increase recovery to ~90%.

A potential tier 1 high-grade underground gold operation.

Cascavel Panel Samples Show High-Grade Potential

A large number of panel samples illustrate the consistently high grades observed at Cascavel.

2,680 Cascavel panel samples were taken between March 2018 and March 2019.

Average grade for all 2,680 Cascavel panel samples is 13.5 g/t.

Average grade of all 942 Mestre panel samples is 71.5 g/t.

426 of the 942 Mestre panel samples (45%) came in at over one ounce per tonne, with an average grade of 145 g/t.

187 of the 942 Mestre panel samples (20%) are over 100 g/t, with an average grade of 258 g/t.

Grade appears to increase as mine development goes deeper.

Currently 109 meters vertical depth