CHICOBI PROJECT

Chicobi Project, Quebec, Canada

The project is located 30 kilometers northeast of the town of Amos, Quebec (the “Chicobi Project”). The ChicobiProject covers 41,775 ha and over 45 kilometers of strike along the Chicobi Deformation Zone (“CDZ”), a major, yetunder-explored structural break transecting the Abitibi greenstone belt of Ontario and Quebec. The CDZ is analogous to the other major breaks hosting world-class Au deposits of the Abitibi, such as the Cadillac-Larder Lake, Casa- Berardi, and Sunday Lake – Lower Detour deformation zones, and has the potential to host significant orogenic gold and VMS mineralization. Similarities between the CDZ and other deformation zones that host gold are: presence of late-basin polymictic conglomerates, juxtaposition of Porcupine-aged clastic sedimentary basin against volcanic rocks, late alkaline intrusive rocks hosted along the structure, seismic and magnetotelluric data suggest crustal-scale penetration of the fault system.

From January, 2020 to March, 2021 Kenorland and SMCL completed 4,042 meters of sonic drilling over 224 drill holes which were targeting glacial till and top of bedrock that sits below glaciolacustrine clay. The goal of this regional sampling program was to intersect a glacial dispersion plume that would indicate that a bedrock source was nearby. All glacial overburden material below glaciolacustrine mud (diamicton, sand, gravel) was sent for fine-fraction geochemistry, gold grain counts (Overburden Drilling Management methodology), and heavy mineral concentrate assays. A top of bedrock sample was also collected in each hole and send for whole-rock analysis.

The first phase of the Chicobi exploration program was reconnaissance in nature with sonic drill holes spaced approximately 500 meters apart on existing access (municipal roads, logging roads, fields, trails). During January- March, 2020, 68 holes were drilled on an approximate 500 meter by 500 meter grid following up on anomalism in the regional survey. Reconnaissance and target-scale sonic drill-for-till sampling continued into 2021 with final results pending. To date, three target areas have sufficient sonic drilling to define a geochemical anomaly. The Company will evaluate follow-up work with geophysics in 2021