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GOLD ROCK

20,300-hectares contiguous exploration concessions on the Battle Mountain – Eureka trend.

The Gold Rock Project consists of a 20,300-hectares contiguous land package on the Battle Mountain-Eureka Trend, anchored by the historic Easy Junior Mine, which reportedly produced approximately 2.6 million tonnes at a grade of 0.89 grams per tonne for 74,945 gold ounces by 1994. The area in and around the Easy Junior mine hosts a historical resource estimate of:

CategoryTonnes
(000s)
Grade
(g/t)
Contained Metal
(Au oz)
Indicated12,9670.75310,000
Inferred17,8930.58331,000

*Historical resource as described in report entitled “NI 43-101 Technical Report on Resources, Gold Rock Project, White Pine County, Nevada” by Gustavson Associates for Midway Gold Corp., dated April 12, 2012. The resource estimate assumed a cut-off grade of 0.27 g/t gold, a 65 percent recovery, a mining cost of $7.17/t and a gold price of $1,255 per ounce. Fiore reports these historic resources for illustrative purposes only. Although the estimates are believed to be reliable and relevant, a qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves, and the Company is not treating the historical estimates as current mineral resources or mineral reserves. The Company believes that some additional drilling is required to upgrade the historical estimate to a current mineral resource estimate. A larger historical resource estimate was described in a report entitled “Amended NI 43-101 Technical Report, Updated Mineral Resource Estimate for the Gold Rock Project, White Pine County, Nevada” and dated January 8, 2015, however the Company believes the 2012 mineral resource estimate outlined here is currently the most valid.

The mineralisation at Gold Rock is hosted by the folded and faulted Joanna Limestone Formation, where the historical resource covers only about 3 km of a >10 km long belt. This belt contains the same folded and faulted Joanna Formation, displaying strong Carlin-style alteration (silica flooding, jasperoids) and coincident gold and pathfinder element anomalies throughout its strike length. This area is considered highly prospective for additional discoveries.

At least nine distinct targets defined by Carlin-type structure, geochemistry and alteration have been located by surface sampling and mapping, and all permits are in place to begin drilling in early 2018.

In addition to exploration activities, the permitting regime is well advanced with the Federal mine permitting process nearing completion. The EIS Record of Decision is expected in Q1 2018 for a full open-pit heap leach mining operation at Gold Rock.

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