SPRINGDALE GOLD PROJECT

Springdale Gold Project

In late 2020 a prospecting team visited the southwestern part of the Springdale property in north central Newfoundland to evaluate the access to and verify the existence of historically reported trenches at the Burnt Berry, Mistaken Pond and Fallen Tree gold showings. Access was found to be very good along a gravel road and ATV trails. Three trenches were located at Burnt Berry, each approximately 15 meters in length. A single trench was located at Fallen Tree approximately 45 meters in length. The showings are separated over an area of 3 kilometers and occur in quartz pyrite-sulphide veins hosted in sheared mafic volcanic rocks. Cursory sampling (19 grabs) yielded elevated to anomalous gold up to 21.6 grams per tonne at Burnt Berry. Fourteen of those samples yielded anomalous copper up to 0.33%. This information is being integrated into the larger Springdale Colchester field program design. The Company has obtained permits for trenching, drilling and geochemistry on the project. Given the nature of the mineralization and its location within the historic mining district of Springdale, further work is warranted. Maritime Resources Corp. is currently redeveloping the Hammerdown gold mine approximately 5 kilometers southwest of the Springdale property in similar style geology.