The McGarry Property hosts a historical mineral resource, outlined in a 2011 PEA prepared for Armistice Resources (later Kerr Mines). The study reported 447,000 tonnes grading 7.89 g/t gold for 112,000 ounces in the Indicated category, and an additional 157,000 tonnes grading 5.83 g/t gold for 29,000 ounces in the Inferred category. The estimate used a 3.43 g/t Au cut-off, capped assays at 51.4 g/t Au, applied a specific gravity of 2.79, and incorporated a minimum mining width of 1.5 metres. The full technical report and its amended version (September 30, 2011) are available on SEDAR under Kerr Mines Inc. These mineral resource estimates are historical in nature and should not be relied upon without further verification.

McGarry was in underground production and active exploration as recently as 2013, with Kerr/Armistice investing heavily in upgrading site infrastructure—including the shaft, hoist, and underground development. Underground exploration during this period returned exceptional diluted grades over long strike lengths, such as:

• 8.2 g/t Au over 98 m (1.5 m width)

• 4.6 g/t Au over 26 m (1.3 m width)

• 7.6 g/t Au over 79.2 m (1.4 m width)

• 11.1 g/t Au over 24 m (1.7 m width)

• 6.1 g/t Au over 7.6 m (1.2 m width)

• 4.3 g/t Au over 7.6 m (1.8 m width)

• 6.2 g/t Au over 18 m (1.6 m width)

These results—reported with 35% dilution and disclosed in Kerr Mines’ April 22, 2013 news release (available on SEDAR)—highlight the strong grade continuity and underground development potential across multiple zones.