CHAPEL ISLAND PROJECT

Chapel Island Property

The CI consists of 173 mineral claims encompassing a land area of approximately 43.25 km². The property is located 1.5 km northwest of mainland Newfoundland’s Port Albert Peninsula and can be accessed from Boyd’s Cove via a causeway. Chapel Island itself hosts several Government recognized mineral occurrences that have been documented as follows: • Road Cut #1: Best grab sample from Road Cut #1, which was of a volcanic rock containing arsenopyrite and pyrite, returned a value of 10.4 grams per tonne gold (g/t Au). A massive sulphide float occurrence located near Road Cut #1 returned values up to 2.7 g/t Au, 10.3 g/t Ag, 0.90% Cu and 0.02% Zn (sample 12623) (Dyke, 2005). • Road Cut #2: Best grab sample (altered mafic volcanics subcrop) containing 1% arsenopyrite and pyrite returned a value of 1.8 g/t Au (Dyke,2005). • Road Cut #3: Best grab sample of a 3 to 4 cm wide quartz vein, containing massive to semi-massive arsenopyrite needles, and located at the contact of a mafic dyke and porphyry returned a value of 7.9 g/t Au. Best chip sample returned 3.6 g/t Au over 1.5 metres (Dyke, 2005). • Road Cut #4: Grab sample of porphyry containing fine grained pyrite and trace arsenopyrite returned a value of 1024 ppb Au (Dyke, 2005). - 2 - • School Road: Grab sample of strongly carbonatized shear zone (0.65 metre wide) hosted sedimentary and porphyritic felsic rock returned a value of 1.7 grams per tonne gold. Arsenopyrite and pyrite mineralization are present (Dyke, 2005). • Broken Boat: Grab samples of calcite veins in silicified sedimentary rock containing disseminated coarse grained arsenopyrite and trace pyrite returned values up to 8.3 g/t Au. Two other grab samples returned values of 6.3 g/t Au and 2.7 g/t Au (Dyke, 2005). • Curtis Cove: Grab sample (C403191) of vuggy quartz containing both fine grains and needles of arsenopyrite returned a value of 1225 ppb Au (Dyke, 2005). • Swamp Zone: Nine grab samples returned values greater than 1 g/t Au including two that returned values greater than 100 g/t Au up to 149 g/t Au. (Stefan Kruse of Terrane Geoscience Inc.in Quinlan 2012 [002E/10/1839]). There have been no documented drill holes on Chapel Island to date. The Company plans to execute preliminary data compilation as well as a site visit in early spring 2021 to explore new areas away from the easily accessible, known mineralized areas which are currently the only areas that have been sampled. This will be followed up by a ground-based geophysical survey to better define secondary and tertiary structures associated with the regional Dog Bay Line fault, which is thought to be responsible for fluid mobilization and gold concentration in the region