Investor Presentation
Released
Released
Announcement PDF
29 October 2025
ASX: ADV
The Ardiden–Lac Gold Merger
Creating a Leading Canadian Gold
Exploration and Development Company
Augmitto surface facilities, Rouyn Gold Project, Québec
Disclaimer
Disclaimers:The following notices and disclaimers apply to this presentation and you are therefore advised to read this carefully before reading or making any other use of
this presentation or any information contained in this presentation.
This presentation is dated 10 October 2025 and has been prepared by the Board and management of Ardiden Ltd (ACN 110 884 252) (ADV, Ardiden or the Company).
Ardiden will be conducting an equity raising of new fully paid ordinary shares (New Shares) in the Company (Placement). New Shares will be issued under the Placement
and will rank equally with existing fully paid shares in the Company (Shares). Refer to the summary of the Placement in Ardiden's ASX announcement dated 10 October
2025 for further details on the Placement.
Summary information only: The information in this presentation is summary information only and is current as at 29 October 2025 (unless otherwise indicated), and the
information in this presentation remains subject to change without notice. The information in this presentation is general in nature and does not purport to be accurate
nor complete, nor does it contain all of the information that an investor may require in evaluating a possible investment in Ardiden, nor does it contain all the information
which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act. It has been prepared by Ardiden
with due care but no representation or warranty, express or implied, is provided in relation to the accuracy, reliability, fairness or completeness of the information,
opinions or conclusions in this presentation by Ardiden or any other party involved in its preparation, except as required by law. Reliance should not be placed on
information or opinions contained in this presentation and, Ardiden does not have any obligation to finalise, correct or update the contents of this presentation, except as
required by law. This presentation should be read in conjunction with Ardiden's other periodic and continuous disclosure announcements lodged with the ASX, which are
available at www.asx.com.au.
Forward looking statements: This presentation contains “forward-looking statements” and “forward-looking information”, such as statements and forecasts which include
(without limitation) financial forecasts, exploration targets, industry and trend projections, statements about the feasibility of the Pickle Lake Gold Project and the Rouyn
Gold Project (collectively the Projects) and its financial outcomes, future strategies, results and outlook of Ardiden and the opportunities available to Ardiden. Often, but
not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “is expected”, “is expecting”, “budget”, ‘outlook”,
“scheduled”, "target", “estimates”, “forecasts”, “intends”, “anticipates”, or “believes”, or variations (including negative variations) of such words and phrases, or state that
certain actions, events or results “may”, “could”, “would”, “might”, or “will” be taken, occur or be achieved. Such information is based on assumptions and judgments of
Ardiden regarding future events and results. Readers are cautioned that forward-looking statements and information involve known and unknown risks, uncertainties and
other factors which may cause the actual results, targets, performance or achievements of Ardiden to be materially different from any future results, targets, performance
or achievements expressed or implied by the forward-looking statements and information.
Forward-looking statements and information are not guarantees of future performance and involve known and unknown risks, uncertainties, sensitivities, contingencies,
assumptions and other important factors, many of which are beyond the control of Ardiden and its directors and management. Past performance is not a guide to future
performance. Key risk factors are detailed (non-exhaustively) in this presentation (including in Ardiden's ASX announcement dated 22 September 2025 (or in previous ASX
announcements). These and other factors (such as risk factors that are currently unknown) could cause actual results, targets, performance or achievements anticipated to
differ materially from those expressed in forward-looking statements and information. Forward-looking statements and information (including Ardiden’s belief that it has a
reasonable basis to expect it will be able to s of the Projects for its estimated life of mine) are (further to the above) based on the reasonable assumptions, estimates,
analysis and opinions of Ardiden made in light of its perception of trends, current conditions and expected developments, as well as other factors that Ardiden believes to
be relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect.
This presentation has been prepared by Ardiden Limited (ASX:ADV) (Company)
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Disclaimer
Although Ardiden believes that the assumptions and expectations reflected in such forward-looking statements and information (including as described
throughout this presentation or in the ASX announcement which it accompanies) are reasonable, readers are cautioned that this is not exhaustive of all
factors which may impact on the forward-looking statements and information. Ardiden does not undertake to update any forward-looking statements or
information, except in accordance with applicable securities laws.
Investors should note that there is no certainty that the Projects will be feasible and there can be no assurance of whether it will be developed, constructed
and commence operations, or whether Ardiden will be able to raise funding when it is required (nor any certainty as to the form such capital raising may
take, such as equity, debt, hybrid and/or other capital raising). It is also possible that such funding may only be available on terms that dilute or otherwise
affect the value of Ardiden’s shares. It is also possible that Ardiden could pursue other ‘value realisation’ strategies such as sale, partial sale, or joint venture
of the Projects. Risk factors which are set out (non-exhaustively) in this presentation, or in Ardiden's previous ASX announcements, highlight key factors
identified by Ardiden which may have material detrimental impacts on Ardiden and its business.
Mineral Resource estimates are necessarily imprecise and depend on interpretations and geological assumptions, minerals prices, cost assumptions and
statistical inferences (and assumptions concerning other factors, including mining, processing, metallurgical, infrastructure, economic, marketing, legal,
environmental, social and governmental factors) which may ultimately prove to be incorrect or unreliable. Mineral Resource estimates are regularly revised
based on actual exploration or new information and could therefore be subject to change. In addition, there are risks associated with such estimates,
including (among other risks) that minerals mined may be of a different grade or tonnage from those in the estimates and the ability to economically extract
and process the minerals may become compromised or not eventuate. Ardiden’s plans, including its mine and infrastructure plans, and timing, for the
Projects, are also subject to change. Accordingly, no assurances can be given that the exploration targets, financial forecasts or other forecasts or other
forward-looking statements or information will be achieved.
Investors are advised that the assumptions and inputs to the financial model may require review as the Projects development progress. While the Company
considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the exploration
targets will be achieved.
Non-IFRS financial measures: This presentation may contain certain financial measures (such as Net Present Value (NPV) and Internal Rate of Return (IRR))
that are not recognised under International Financial Reporting Standards (IFRS). Although the Company believes these measures provide useful information
about the Company's financial forecasts, they should not be considered in isolation or as a substitute for measures of performance or cash flow prepared in
accordance with IFRS. As these measures are not based on IFRS, they do not have standardised definitions and the way the Company calculates these
measures may not be comparable to similarly titled measures used by other companies. Consequently, undue reliance should not be placed on these
measures.
This presentation has been prepared by Ardiden Limited (ASX:ADV) (Company)
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Disclaimer
JORC Code: It is a requirement for Ardiden to report Exploration Results and Mineral Resources in compliance with the 2012 edition of the Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code).
This presentation contains estimates of the Mineral Resources estimated for the Projects. This information in this presentation that relates to those Mineral
Resources for the Pickle Lake Gold Project has been extracted from Ardiden's accompanying ASX announcement entitled “Maiden High-Grade Gold Resource
at Pickle Lake" dated 10 September 2019, a copy of which is available at www.asx.com.au. Ardiden confirms that it is not aware of any new information or
data that materially affects the information included in that announcement and, in relation to the estimates of Mineral Resources, confirms that all material
assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. Ardiden
confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the announcement.
This information in this presentation that relates to those Mineral Resources for the Rouyn Gold Project has been extracted from Ardiden’s accompanying
ASX announcement entitled “Merger Announcement” dated 10 October 2025, a copy of which is available at www.asx.com.au. Ardiden confirms that it is
not aware of any new information or assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have
not materially changed. Ardiden confirms that the form and context in which the Competent Persons’ findings are presented have not been materially
modified from the announcement.
The information in this presentation that relates to the Company's Exploration Results has been extracted from the Company's previous ASX announcements
including, ASX Announcement, “Market Update – Ardiden to Recommence Exploration" dated 8 September 2025. A copy of this announcement is available
at www.asx.com.au. Ardiden confirms that it is not aware of any new information or data that materially affects the information included in the
announcement and that the form and context in which the Competent Person's findings are presented have not been materially modified from the
announcement.
Not financial product advice: This presentation, and the information provided in it, does not constitute, and is not intended to constitute, financial product
or investment advice, financial, legal, tax, accounting or other advice, or a recommendation to acquire any securities of Ardiden. It has been prepared
without taking into account the objectives, financial or tax situation or particular needs of any individual. Ardiden is not licensed to provide financial product
advice in respect of an investment in securities or otherwise. Cooling off rights do not apply to the acquisition of New Shares. Each investor must make its
own independent assessment of Ardiden before acquiring any securities in the Company.
Past Performance: Any information regarding past performance included in this presentation is given for illustrative purposes only and should not be relied
upon as (and is not) an indication of Ardiden’s views, or that of any other party involved in its preparation, on Ardiden’s future performance or condition or
prospects.
Not an offer: This presentation is not a prospectus, product disclosure statement or other offering document under Australian law or any other law and will
not be lodged with the Australian Securities and Investments Commission. This presentation is for information purposes only and is not an invitation, offer or
recommendation with respect to the subscription, purchase or sale of any security in Ardiden, or any other financial products or securities, in any place or
jurisdiction.
This presentation has been prepared by Ardiden Limited (ASX:ADV) (Company)
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Disclaimer
Any offer in the Placement (Offer) will only be made available to eligible investors. Determination of eligibility of investors for the purposes of the Offer is determined by
reference to a number of matters, including legal requirements and the discretion of Ardiden and the Lead Manager (as defined below within this Disclaimer). To the
maximum extent permitted by law, Ardiden and the Lead Manager each disclaim any liability in respect of the exercise of that discretion or otherwise.
The distribution of this Presentation in jurisdictions outside of Australia may be restricted by law and any such restriction should be observed. Any failure to comply with
such restrictions may constitute a violation of applicable securities laws. This Presentation has been prepared for publication in Australia and may not be released to US
wire services or distributed in the United States. This Presentation does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or
any other jurisdiction where it would be illegal. The New Shares have not been, and will not be, registered under the US Securities Act of 1933 (US Securities Act) and may
not be sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state
securities laws. The distribution of this Presentation in the United States and elsewhere outside Australia may be restricted by law. Persons who come into possession of
this Presentation should observe any such restrictions as any non-compliance could contravene applicable securities laws.
No liability: The information contained in this presentation has been prepared in good faith by Ardiden. However, no guarantee, representation or warranty expressed or
implied is or will be made by any person (such as Ardiden and its affiliates, directors, officers, employees, associates, advisers and agents) as to the accuracy, reliability,
correctness, completeness or adequacy of any statements, estimates, options, conclusions or other information contained in this presentation, except as required by law.
To the maximum extent permitted by law, Ardiden and its affiliates, directors, officers, employees, associates, advisers and agents each expressly disclaims any and all
liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this
presentation including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other
matters, express or implied, contained in, arising out of or derived from, or for omissions from, this presentation including, without limitation, any financial information,
production targets, financial forecasts, estimates or projections and any other information derived therefrom. Statements in this presentation are made only as of the
29 October 2025, this presentation unless otherwise stated and the information in this presentation remains subject to change without notice. No responsibility or liability
is assumed by Ardiden or any of its affiliates, directors, officers, employees, associates, advisers or agents for updating information in this presentation or to inform any
recipient of any new or more accurate information or any errors or omissions of which Ardiden or any of its affiliates, directors, officers, employees, associates, advisers or
agents may become aware, except as required by law.
The Company confirms that it is not aware of any other new information or data that materially affects the information included in the original market announcements
referred to above, and that all material assumptions and technical parameters underpinning the estimates in those announcements continue to apply and have not
materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the
original market announcements.
Monetary values: Unless otherwise stated, all dollar values are in Australian dollars (A$). The information in this presentation remains subject to change without notice.
Market and Industry data: Certain market and industry data used in connection with or referenced in this presentation may have been obtained from public filings,
research, surveys or studies made or conducted by third parties, including as published in industry-specific or general publications. Neither the Company nor any of its
advisers or their respective representatives have independently verified any such market or industry data.
This presentation has been prepared by Ardiden Limited (ASX:ADV) (Company)
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6
LAC GOLD
Why theMerger Works
Timing, Strategy and Value
Timing – Right Opportunity,
Right Market
Gold prices at multi-year highs and
investor appetite strong for Tier 1
jurisdictions
The merger delivers scale and public
market exposure at the perfect time
Minimal shareholder dilution and
transaction costs
Strategic Fit –
Complementary Strengths
Rouyn (Québec): advanced, high-
grade resource with near-term growth
Pickle Lake (Ontario): district-scale
exploration and long-term discovery
potential
Shared focus on high-quality gold
resources, ESG, and operational
excellence
Shareholder Value –
Funded for Growth
Post-merger: 62 % Lac Gold / 38 %
Ardiden pre-placement
~$21 million cash post-raise enables
dual work programs
Creates a stronger balance sheet,
broader investor base, and clear re-
rating path
Building the next mid-tier Canadian gold producer
– with the scale, funding, and team to get there
6
7
LAC GOLD
AStrategic Merger ofEquals
The Ardiden – Lac Gold Transaction
Agreement
Terms
Binding Share Sale
Agreement
Consideration:
101,388,889 ADV shares
(0.891 ADV per
LAC share)
Pro-forma ownership:
LAC ~61.9%, ADV
~38.1% (ex-placement)
Subject to the usual
conditions, such as
shareholder and
regulatory approvals
Concurrent
Placement
Ardiden has raised
A$10M at $0.20/share
– subject to ADV
shareholder approval
When added to
existing funds of
A$11M, well funded to
accelerate combined
growth
Rouyn Gold
Project, Québec
Large high-grade
Mineral Resource
(JORC 2012)*
1.666 million ounces
15.8Mt @ 3.28g/t
Robust geological
confidence – 436km of
diamond drilling
Poised
for Success
Drill programs
planned at Rouyn
targeting resource
expansion
Pipeline of targets
identified at
Pickle Lake Project
Excellent
infrastructure and
local skilled workforce
World-Class
Jurisdictions
Two wholly owned
projects in tier 1
jurisdictions
Abitibi gold belt
Québec ~200Moz
historical production
Uchi region of Ontario
~32Moz historical
production
A step change in scale, anchored in Canada’s premier gold belts
* Refer resource table at Appendix 2 (slide 22)
7
LAC GOLD
8
Portfolio Overview
A Balanced Portfolio in Canada’s Top Gold Belts
Rouyn Gold Project
Mineral Resource Estimate, April 2025
15.8Mt@3.28g/t, 1,666,000oz gold *
Pickle Lake Gold Project
Mineral Resource Estimate, September 2019
790,000t @ 4.3 g/t, 110,000oz gold *
Rouyn Gold Project (Québec)
Large high-grade Mineral
Resource (JORC 2012)*
1.666 million ounces
15.8Mt @ 3.28g/t
Pickle Lake Project (Ontario)
District-scale potential anchored
by three known deposits
Both projects located in Tier-1
jurisdictions
Strong infrastructure and
workforce
Exploration and technical team
to be based at Rouyn
* Refer resource table at Appendix 2 (slide 22)
9
Inthe Heart ofthe Abitibi Gold Belt
Where gold giants are born LAC GOLD
The Rouyn Gold Project is located in one of the world’s richest gold belts, with 200M ounces mined in the last 100 years.
4km south of
Rouyn-Noranda
Site connection to
hydro-power and
major infrastructure
Quebec – A Tier 1
mining jurisdiction
Multiple large-scale
mines within
100km radius
10
Rouyn Gold Project
Advanced-stage, high-grade gold asset LAC GOLD
Rouyn is a high-grade gold project, located 4km south of Rouyn-Noranda along the world-renowned Cadillac-Larder Lake
Break in Québec.
• Significant Mineral Resource
15.8Mt @ 3.28g/t Au = 1.66Moz (JORC 2012)*
59% Indicated, 41% Inferred
• Extensively drilled: 2,428 holes for 436,678m,
provides robust geological understanding
• Four project areas along the Cadillac–Larder Lake
Break
• Open at depth: strong potential to grow resources
beyond current 400–600m depth
• Historical mining facilities at Rouyn provide
operational base
• Infrastructure advantage: close to multiple gold
processing plants, grid power, roads, skilled labour
• Regional Processing: Multiple nearby mills with
stated spare capacity may offer low-capex pathways
to first gold production
* Refer resource table at Appendix 2 (slide 22)
11
Rouyn Gold Project
A 6km mineralised corridor with multiple high-grade targets LAC GOLD
Rouyn combines strike length, grade and location – positioned for resource growth in Québec’s premier gold belt.
• Significant drilling to date: 2,428 holes / 436,678m
• Current drilling to circa 400-700m depth – nearby mines
operate to 3,000m depth
• 15,000 metre diamond drilling program planned to test
resource extensions and in-fill targets
Independent validation (ERM, April 2025)
“In ERM’s opinion, given the geological setting and depth of
mineralisation at nearby mines (LaRonde) on the Cadillac
Fault, there is considerable likelihood that mineralisation will
be present below 700 m depth, the current average level of
drilling on the Augmitto-Cinderella, Lac Gamble and Astoria
blocks.”
Stage 1 – Astoria
Stage 2 – Astoria, Gamble
Stage 3 – Augmitto, Gamble
12
Pickle Lake Gold Project
Driving the Next Generation of Discoveries LAC GOLD
A large-scale, district-scale gold project within the prolific Uchi Subprovince, surrounded by major producers.
• 675 km² tenement package with >100 km of
prospective strike
• Kasagiminnis Deposit – Inferred Resource 110 koz @
4.3 g/t Au* (JORC), open at depth and along strike
• Dorothy-Dobie and South Limb prospects – multiple
drill-ready targets with historic intercepts
• 20 + brownfield and greenfield targets across the
belt offer blue-sky exploration potential
• Strong infrastructure and long-term First Nations
partnerships (Cat Lake, Mishkeegogamang, Slate
Falls)
• Winter exploration program planned for South Limb
• Substantial assessment credits secure tenure
through 2029.
* Refer resource table at Appendix 2 (slide 22)
Ardiden’s Pickle Lake project, Ontario
13
Leadership
Proven track record to deliver world class projects
Tara Robson
Non-Executive Director
Ian Hume
Non-Executive Chair
Jeremy Robinson
Non-Executive Director
Michelle Roth
Non-Executive Director
Andrew Stocks
Managing Director
Matthew Keegan
Executive Director
John Fitzgerald
Chief Financial Officer
Paul Teniere
GM, Canadian Ops
Merger and placement
(subject to shareholder
approval, 26 Nov 2025)
14
Immediate Priorities
Laying the Groundwork for Long-Term Growth
Sep
‘25
Oct
‘25
Nov
‘25
Dec
‘25
Jan
‘25
Feb
‘25
Mar
‘25
Identify and close
transformational deal
Complete A$10M placement
Shareholder vote at AGM
Integration of teams &
operational planning
Proposed work programs
at Rouyn & Pickle Lake
Ongoing news flow
15
Investment Proposition
Funded for Growth and Re-Rating Potential
Strong Financial Platform
A$10M placement at $0.20/share
(18.6% premium to 30-day VWAP)
Combined cash post-raise: ~A$21M
C$20M non-dilutive debt facility at 5%,
secured only against Rouyn
Capital structure supports flexibility
and disciplined growth
Tier-One Gold Portfolio
High-grade Rouyn resource plus
district-scale Pickle Lake upside
Operations in Québec and Ontario –
top-ranked mining jurisdictions
Infrastructure advantage, strong local
partnerships, ESG-focus
Clear Investment Case
Funded, technically robust and led by
a proven team
Low entry valuation
(~A$24/oz EV/resource)
Multiple near-term catalysts - drilling,
Mineral Resource review and news
flow through 2026
Positioned for sustained value
creation in a strong gold market
A well-funded, growth-focused gold company positioned for re-rating
15
16
Rouyn Gold Project, looking towards Augmitto Automatic core saw
Trans-Canada Highway Core processing station
17
Ardiden + Lac Gold
On Track to Become Canada’s Next Mid-Tier Gold Producer
For Further Information
Tara Robson, CEO
tara@ardiden.com.au
www.ardiden.com.au
Appendices
18
1. Geological Background
2. Mineral Resource Estimates
3. Competent Person Statements
4. Transaction Details
Logging drill core at Ardiden’s Western Hub, Pickle Lake
19
Geological Background
Value generation over the next three years
Value generation potential from testing resource extensions, economic studies based on the existing Mineral Resource and potentially
securing mining permits to reactivate underground mining
STUDIES
• Community and First Nations
engagement
• Economic studies based on the
existing Mineral Resource
• Investigate and planning for the
reactivation of underground
mining
• Environmental permits
anticipated to take 2-3 years due
to data collection requirements
EXPLORE OPPORTUNITIES
• Evaluation of nearby gold
deposits which share strategic
synergies
• Commence discussions with
major companies requiring
supplemental high-grade mill
feed within commercial trucking
distance
TESTING RESOURCE AND
EXPANSION TARGETS
• Programs through 2025/26
testing resource expansion
• Planning additional drilling
campaigns focused on west-
plunging high-grade structures
• New Mineral Resource Estimate
– incorporating stricter grade
threshold while maintaining
continuity of mineralised
structures
20
Geological Background
Piché Group – Cadillac-Larder Lake Fault Zone
The Piché Group, a volcanic and ultramafic sequence in the Abitibi
Greenstone Belt, is one of the most important host rock groups along
the Cadillac-Larder Lake Fault Zone – also known as the Cadillac Break.
Several famous gold mines along this break are either hosted
in or structurally controlled by the Piché Group. These mines are
concentrated in the Val-d’Or to Rouyn-Noranda corridor in Québec.
Famous mines along the Cadillac Break hosted in the Piché Group:
1. LaRonde Mine – Agnico Eagle
P&P=2.74Moz, MI&I=2.76Moz, >3.0km mining depth
Ore: Gold, silver, zinc, copper, lead
Geology: Hosted in volcanic and volcaniclastic rocks of the Piché Group and adjacent units.
Gold is associated with massive sulphide lenses and vein systems, often within or near sheared
ultramafics.
Source: https://www.agnicoeagle.com/English/operations-and-projects/global-operations-and-
development-projects/laronde-complex/default.aspx
2. Lapa Mine (now closed) – Agnico Eagle
P&P=0.04Moz, MI&I=0.26Moz, ~1.4km mining depth
Ore: High-grade gold
Geology: Located directly on the Cadillac Break. Hosted in sericitized ultramafics and volcanics of
the Piché Group. Gold occurs in quartz-carbonate veins within tight shear zones.
Source: https://www.sec.gov/Archives/edgar/data/2809/000104746917002009/a2231316zex-
99_1.htm
3. Bousquet Mine Complex (includes Bousquet 1, 2 & 3, and LaRonde Zone 5) – Agnico Eagle
3.87Moz Historical Production, 1.25km depth
Ore: Gold with polymetallic components
Geology: Hosted in Piché Group mafic to ultramafic volcanics and tuffs.
Gold associated with pyrite and chalcopyrite in altered volcanic host rocks.
Source: https://www.mindat.org/loc-206837.html
4. Doyon-Westwood Complex – IAMGOLD
P&P=1.04Moz, MI&I=3.51Moz, 2.2km mining depth
Ore: High-grade gold
Geology: Partly hosted in rocks of the Piché Group, particularly altered ultramafics along the
Cadillac Break. Structurally controlled quartz veining in sheared volcanics.
Source: https://www.iamgold.com/English/operations/westwood/default.aspx
5. Augmitto-Astoria (Rouyn Gold Project) – Lac Gold
MI&I=1.66Moz, drilled to 400-600m depth
Ore: Gold
Geology: Hosted in ultramafic flows and tuffs of the Piché Group.
Alteration includes carbonate, sericite, fuchsite, and quartz veins along shears.
1 & 4
2
3
5
21
Geological Background
Extensional vein sets
• Drilling to test high grade
extensional vein sets
• Extensional veins contain
bonanza gold grades
which are difficult to
intersect conventionally
• Drilling down structure
has the potential to
identify and target ultra-
high ore grade zones
Vertical Section 8200mE
with Proposed Drill Hole
22
September 2023 Indicated Inferred Total
Astoria1
Tonnage (Mt) Grade (g/t) Gold Ounces (koz) Tonnage (Mt) Grade (g/t) Gold Ounces (koz) Tonnage (Mt) Grade (g/t) Gold Ounces (koz)
Ultramafic 2.9 3.16 293 3.7 3.28 386 6.5 3.23 679
Argillite 0.5 3.88 60 0.4 4.56 51 0.8 4.17 112
Sub-Total 3.4 3.27 353,657 4.0 3.40 437 7.4 3.34 791
Augmitto-Cinderella2
Tonnes Grade (g/t) Ounces Tonnes Grade (g/t) Ounces Tonnes Grade (g/t) Ounces
Ultramafic 1.9 3.54 214 1.0 2.94 94 2.9 3.33 308
Argillite 0.1 2.62 10 0.4 3.73 43 0.5 3.45 53
Sub-Total 2.0 3.48 224 1.4 3.15 137 3.4 3.35 361
LAC Gamble3
Tonnes Grade (g/t) Ounces Tonnes Grade (g/t) Ounces Tonnes Grade (g/t) Ounces
Ultramafic 3.7 3.27 391 1.0 2.73 84 4.7 3.16 475
Argillite 0.1 2.31 8 0.3 3.22 31 0.4 2.98 39
Sub-Total 3.8 3.24 398 1.3 2.85 116 5.1 3.14 514
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