CASCABEL PROPERTY

CASCABEL

85% JV Partner

Highlights

• • Target: Copper/Gold porphyry mineralization
  • JV between Cornerstone (15% financed through BFS and repayable out of project revenues) and SolGold (85%) - subject to SolGold funding 100% through BFS
  • Cornerstone also owns 6.9% of SolGold, or 20.8% interest (direct & indirect) in Cascabel
  • Alpala deposit updated Mineral Resource Estimate #3 (MRE#3) (see Cornerstone news releases 20-09 dated April 7, 2020 and 21-02 dated January 29, 2021) reports:
    • 2,663 Mt @ 0.53% copper equivalent (CuEq) (containing 9.9 Mt Cu, 21.7 Moz Au, and 92.2 Moz Ag) in the Measured plus Indicated categories, comprising:
      • 1,192 Mt at 0.72% CuEq in the Measured category (containing 5.7 Mt Cu, 15 Moz Au, and 52.4 Moz Ag); and
      • 1,470 Mt at 0.37 CuEq in the Indicated category (containing 4.2 Mt Cu, 6.6 Moz Au, and 39.8 Moz Ag).
    • High-grade core of 442 Mt at 1.40% CuEq in the Measured and Indicated categories, supporting early cash flows and accelerated pay back of initial capital, comprising:
      • 359 Mt at 1.47% CuEq in the Measured category (containing 3.2 Mt Cu and 10.9 Moz Au); and
      • 84 Mt at 1.06% CuEq in the Indicated category (containing 0.6 Mt Cu and 1.4 Moz Au).
    • Additional Inferred Resource of 544 Mt @ 0.31% CuEq for 1.3 Mt Cu, 1.9 Moz Au and 10.6 Moz Ag.
    • MRE#3 update has added 1.6 Mt copper, 2.5 Moz gold and 92.2 Moz silver to Measured and Indicated Mineral Resources providing a solid resource basis for the forthcoming Preliminary Feasibility Study ("PFS").
    • MRE#3was prepared by Cecilia Artica SME Registered Member, Principal Geology Consultant of Mining Plus (see Table 1, above), who is designated as the "Qualified Person" as defined by Canada's National Instrument 43-101.