ELFRANCIS UPDATE 2021-11-19

@Elfrancis @AldenTyrell i forgot to reply to your question about other projects and drilling. as exploration geos doing greenfields exploration, i think we find them all pretty exciting! its really a matter of timeline. here's a few that are coming up: Healy - we drilled ~5,000m into a completely new gold target (no previous drilling) in Alaska this summer. We've got about half of the assays back so we'll be reporting that probably in January. Once we have the full results, we'll come up with a plan of what's going to happen there next year. We earned in to 70% on the project this year (with Newmont as minority) so we're in control of it going forward

Chicobi - we will be doing an initial scout drilling program (funded by Sumitomo Metal Mining Canada) in Q1 2022 into a new target with no historic drilling. The target is looking like its VMS from the drill-for-till sampling we've completed, so the goal of the program will really be reconnaissance as there is zero outcrop - we will be trying to see if there are the right rocks, alteration, define stratigraphy a bit, and also test some geophysics anomalies. The plan is to run borehole EM on these holes as well, so that if we don't hit it out of the park on the first round, we should have additional targets to test on the next phase. Tanacross - we ran IP, mag, and MT (magnetotellurics) over the South Taurus target this summer, which has produced a very interesting anomaly. Zach and Dave found some skarn alteration in boulders in the area as well. This is important because the Peak gold deposit (recently purchased by Kinross) is a direct analogue - its hosted in the same rocks, has similar alteration to what we're seeing, and has massive pyrrhotite, which could be an explanation for the mag/conductive feature we see at South Taurus. We have known porphyry mineralization at Tanacross, so it's not crazy to think there could be a skarn around it. We'll consider drilling this next summer, although there is nothing set in stone right now and we will have to consider this within the context of our overall 2022 budget.

Frotet regional - we have a number of other targets within the Frotet property (which Regnault is a part of) which we might consider drilling this summer. We haven't set the program/budget with SMMCL, but at some point I think it makes sense to do some more regional exploration in hopes of making another discovery on the property. Once budgets and programs are set, we'll press release something about it. On top of that, there will be a number of other early-stage programs that we'll be running which will hopefully feed into additional drilling on completely new targets in Q1 2023. Lots of exploration happening!