RAYFIELD

No Underlying Royalties or Property Payments, 100% owned.

SUMMARY

• Acquired by Golden Sky Minerals in 2021 through staking and property purchases
• Large ~11,000-hectare consolidated land package
• Located in a well-established copper-gold producing district of the Quesnel Trough, British Columbia
• Along trend with the New Afton Mine, Copper Mountain Mine, Highland Valley Copper Mine, and Mount Polley Mine
• Located just ~20 km east of 70 Mile House, British Columbia resulting in cost-effective exploration
• Excellent year-round access along well-maintained service and logging roads that branch off of the nearby Highway 97

• The Rayfield Copper-Gold Property is a quality project with immediate exploration upside and has the potential to yield a major copper-gold porphyry system.

• Geology
• Exploration History

The Rayfield Property is located in the Quesnel Trough, which is host to some of British Columbia’s most productive copper-producing mines. Underlying the Property is the Late Triassic alkalic Rayfield River Pluton, which has been speculated to be part of the highly prospective Late Triassic Copper Mountain Magmatic Belt in British Columbia. The Property largely covers an area of exposed Late Triassic to Early Jurassic Nicola volcanic and intrusive rocks that are typically capped by Miocene to Pliocene basaltic flows and related sediments elsewhere in the region. Several Late Triassic to Early Jurassic plutonic phases is present with syenite, hornblende syenite, leucosyenite, and diorite being the most common. Mineralization is present as primary sulphides (chalcopyrite and bornite) and as secondary minerals (native copper, cuprite, malachite). Secondary minerals tend to be present within fault zones, clay gouge and breccia, whereas the sulphides are interstitial within the syenite or commonly associated with potassium feldspar veinlets.

POTENTIAL FOR A SIGNIFICANT COPPER-GOLD DEPOSIT

BURIED PORPHYRY TARGET

• Many shallow historical drill intercepts on the Rayfield Property have similar grades to historic holes reported on neighboring alkalic copper-gold porphyries within the Quesnel Terrane. These low-grade drill intercepts from the Rayfield Property may have missed the higher-grade core of the porphyry system.

• Elevated magnetic and potassic anomalies show similar characteristics to other alkalic copper-gold porphyries in the Quesnel Terrane and are largely underexplored.

• As the historic IP survey was limited to a shallow depth of ~125 m, there is potential for the porphyry system to extend to depth. Golden Sky believes that, with modern exploration methods, there is significant potential to discover additional mineralized zones at depth.
• An approximate ratio of 1:1 of g/t gold to % copper is often utilized to indicate proximity to porphyry centers. Historically, drilling at Rayfield intersected mineralization that was typically 1:5 g/t gold to % copper. This may indicate that the higher-grade core of the porphyry system has yet to be discovered.