FORTUITY 89

On March 9, 2021 Discovery Harbour Resources Corp. announced an option and earn-in agreement (“the Agreement”) with Newcrest Resources, Inc., a wholly owned subsidiary of Newcrest Mining Limited (“Newcrest”) on the Fortuity 89 property in Nevada. The deal terms are described in detail in the section “Newcrest Option/Joint Venture Terms” to follow. Key points include:

• A commitment to spend a minimum of US$1.5M in the first year, followed by, each step at Newcrest’s option;
• Paying Discovery Harbour US$250K and spending US$10M to earn 51%;
• Spending US$20M to earn 65% ownership;
• A positive preliminary economic study to earn 75%;
• Upon earning 75% Newcrest must acquire Discovery Harbour’s 25% interest at fair market value;
• If Newcrest does not proceed to earn its increasing interest at any step, the ownership reverts to Discovery Harbour having the 51% majority interest.

Location and Property Description

Discovery Harbour holds the early stage epithermal gold Fortuity 89 property, which covers close to 34 square kilometres. Caldera and Fortuity 89 are both located in a well mineralized area of southwestern Nevada with various mines and deposits in the Walker Lane and Northhumberland Gold Trends. Fortuity 89 is approximately four kilometres west of Discovery Harbour’s Caldera property.

Fortuity 89 is characterized by limited outcrop in a large gravel covered plain. The limited outcrop is strongly altered and other indications are consistent with the area being very high in a potentially gold bearing epithermal system.

Evidence supporting this includes the alteration signature of the limited outcrop, the presence of reed fragments, which indicates that this Fortuity 89 outcrop is on a paleosurface with the epithermal system preserved below, and opaline silica. Aside from the limited outcrop, less than 2km² in the 34 km² property, the property is largely covered by a gravel plain.