Wawa Gold Project

*Jubliee Zone was previously the Surluga Deposit, which now includes a larger portion of the Jubliee Shear Zone and the Hanging Wall in the Open Pit Resource

*This graphic demonstrates the progression of the mineral resource at the Wawa Gold Project as at the effective dates of such mineral resource estimates shown on the x-axis of the graphic. Any mineral resource estimate other than the current 2024 MRE is (i) historic in nature, and (ii) being presented for illustrative purposes only and should not be relied upon.

¹ National Instrument 43-101 Technical Report for the Wawa Gold Project, Brian Thomas P.Geo. WSP Ltd, Steve Haggarty, P.Eng., Haggarty Technical Services, report effective September 30, 2024.

1)    The updated MRE described above has been prepared in accordance with the CIM Standards (Canadian Institute of Mining, Metallurgy and Petroleum, 2014) and follows Best Practices outlined by the CIM (2019).

2)    Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There are no Mineral Reserves for the Wawa Gold Project.

3)    The “qualified person” (for purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“)) for the updated MRE is Brian Thomas, P.Geo., an employee of WSP and is “independent” of the Company within the meaning of Section 1.5 of NI 43-101.

4)    The effective date of the updated MRE is August 28, 2024.

5)    A minimum thickness of 3 metres was used when interpreting the mineralized bodies.

6)    The updated MRE is based on sub-blocked models with a main block size of 3 metres x 3 metres x 3 metres.

7)    The pit-constrained Mineral Resources are reported at a 0.40 g/t Au cut-off grade considering an Operating Expense (“OPEX”) of CDN $28.95 / tonne ($2.70/t mining, $19.00/t processing, $3.10/t G&A, $3.80/t transport to mill, $0.35/t rehabilitation)

8)    The Jubilee underground constrained Mineral Resources are reported at a 2.00 g/t Au cut-off and a minimum of 2,000 tonnes of contiguous material contained within a 1.60 g/t envelope. The 2.0 g/t cut-off assumes underground long hole mining with an OPEX of CDN $146.65 / tonne ($90.00 mining, $37.50 milling, $15.00 G&A, $3.80/t transport to mill, $0.35/t rehabilitation).

9)    The Minto underground constrained Mineral Resources are reported at a 2.40 g/t Au cut-off and a minimum of 2,000 tonnes of contiguous material contained within a 2. 00 g/t envelope. The 2.40 g/t Au cut-off grade assumes underground long hole mining with an OPEX of CDN $176.65 / tonne ($120.00 mining, $37.50 milling, $15.00 G&A, $3.80/t transport to mill, $0.35/t rehabilitation).

10) A bulk density factor of 2.77 tonnes per cubic m (t/m3) was applied for the MRE.

11) A gold price of $CDN2,632 (US$1,950) per ounce as used, and a USD/CDN exchange rate of 1.35.

12) Mill recovery of 90.3% was assumed.

13) Royalty of 2.5% (reduced from 3.5% assuming expected re-purchasing of 1.5% of NSR from previous joint venture partner for $CDN1.75 million and option to purchase an additional royalty of 0.5% by Franco-Nevada upon completion of feasibility study).

14) As required by reporting guidelines, rounding may result in apparent summation differences between tonnes, grade, and metal content.