Quarterly Activities/Appendix 5B Cash Flow Report
Released
Released
Announcement PDF
30 JULY 2024
ARDIDEN QUARTERLY ACTIVITIES REPORT – QUARTER ENDING 30 JUNE 2024
HIGHLIGHTS
Pickle Lake Gold Project:
Strategic review completed over substantially all of the Pickle Lake Gold Project to align its exploration objectives
with challenging market conditions. Key outcomes of the review include:
The Eastern Hub represents the most prospective short-term opportunity given its favourable access,
and location amongst historical mines.
Review at the South Limb prospect where key iron formation targets and a highly prospective
fold nose were left untested in 2021.
250 North and West Pickle prospects, along the same geological trend as the historic Theirry
Copper Mine and near to the Cat Lake winter road. Both are highly prospective for broad zones
of polymetallic mineralisation.
Kasagiminnis which includes large untested drill targets along strike and below the current JORC
resource of 790,000 Tonnes @ 4.3g/t for 110,000oz gold (ASX 10 Sept 2019).
The Western Hub key targets of Dorothy, Dobie, Tonsil and Esker surrounding the historic Golden
Patricia mine, remain highly prospective, but are a lesser priority due to their dependence on helicopter
access, which is not viable in the current economic environment.
Tenement package rationalised thereby preserving exploration credits for Eastern and Western Hubs
well into 2029.
Corporate:
The Company had a strong cash balance at 30 June 2024 of A$10.8 million.
Continued cost reduction initiatives aimed at preserving cash while actively pursuing additional
exploration and project opportunities.
Greg Romain resigned as Managing Director and CEO effective 13 May with experienced CFO, Tara
Robson assuming the position of interim CEO.
Figure 1– Location of Ardiden’s Pickle Lake Gold project within the Uchi Belt of northwest Ontario1.
1
* Source S&P Global Market Intelligence 2023
1|Page
Ardiden Limited (‘Ardiden’ or ‘the Company’) (ASX: ADV) is pleased to report on its Quarterly Activities at its
highly prospective 100% owned Pickle Lake Gold Project in Northwest Ontario, Canada. Ardiden’s strategic
landholding is situated on the same geological belt as Red Lake, the ‘Uchi’ Subprovince, which has produced
over 30M oz of gold to date. (Figure 1).
PICKLE LAKE GOLD PROJECT:
The Pickle Lake Gold Project is a highly prospective landholding which includes three existing gold deposits
(Kasagiminnis, Dorothy and Dobie) and several other identified brownfield and greenfield gold prospects over a
100km wide belt (Figure 2).
Figure 2 – Ardiden’s Pickle Lake Gold Project.
Work during the quarter concentrated on the prospectivity of exploration targets primarily within the Eastern
Hub, given their proximity to the Pickle Lake township, access to roads, to facilitate a more cost-effective
exploration strategy for the project. (Figure 2)
Key activities included review and compilation of historical results with new plans and sections for the South
Limb and a review of historic data from available drill logs within the 250 North Prospect.
The South Limb Prospect contains historic exploration undertaken since the 1980s comprised primarily of local
prospecting, geophysics and drilling. The majority of the prospecting and geophysics is post 2010 and includes
two magnetic surveys which outline a well-defined trend extending south-westerly from the Dona Lake Mine
across the South Limb property. Most of the drilling was undertaken during the 1980s and 1990s, and tested to
shallow depths along the main trend on the northern part of the property. The only drilling undertaken by
Ardiden in 2021 was limited to 6 holes all of which focused on the northern iron sulphide formations. Whilst no
significant gold results were found in the 2021 program, Ardiden had cut short their planned program to fulfil
earn-in obligations in the Western Hub. This left behind several key iron formation targets within the east block
of the survey as well as a highly prospective fold nose in the west block near historic hole DH 172-007 which
2|Page
reported 7.8g/t Au from 8m (Figure 3). Importantly, these untested targets are close to existing roads, enabling
more cost effective exploration work and eliminating the need for helicopters.
In addition, a preliminary review was completed of the existing drill logs for the 250 North Prospect. The
purpose was to correlate underlying data with historic images and confirm the mineralised zones to commence
forming a view on the exploration potential and possible future work programs.
The 250 North Prospect abuts the West Pickle Prospect, both of which are proximal to the historic Theirry Copper
Mine and the Cat Lake winter road. Historical results from drilling conducted by Umex and Bond Gold
Corporation in the 1970s and 80s within the 250 North boundaries are limited. Work to date indicates
interesting Cu and Ni values in two locations along the same geological trend, as the Thierry Copper Mine. Whilst
the review is encouraging, portions of the data for drill logs and assay certificates are missing and not always
correlate with data on historic images.
Despite the incomplete data, the property is considered to have strong potential with key attributes being
similar geology, and the possibilities for broad zones of polymetallic mineralisation as the Thierry Mine, shallow
depth of mineralization discovered to date, and close proximity of key targets to the Cat Lake winter road.
Further work is required to outline any future work programs.
Both the 250 North Prospect and the West Pickle Prospect require further work and are more easily assessable
than the targets within Ardiden’s western hub.
Figure 3 –Ardiden’s Eastern Hub
The company is continuing to refine the strategic plan but will continue to focus near term efforts to the Eastern
Hub where it is believed greater success and efficiencies can be achieved. Initial activities being considered for
this area include review and upgrade of the main access route for Kasagiminnis, updating of the database and
sections for the South Limb, local prospecting and field surveys, continued work on geology models and
continued planning for possible drilling.
As previously advised, the Company continues to rationalise the overall tenement package and relinquished
further parts of the Southern Hub, thereby preserving exploration credits for Eastern and Western Hubs, which
are considered the most prospective.
3|Page
First Nations – ESG
The Technical Ecological Knowledge Study (TEK) was completed for the Western Hub during the quarter, with
delivery of the final report to the Cat Lake First Nation. The TEK was designed to preserve and acknowledge the
cultural and environmental significance of the communities, as well as the importance of their traditional
knowledge, and provide Cat Lake and Ardiden with a comprehensive overview of what values and land use
practices may be affected by potential mining activities. The TEK affirmed Ardiden’s commitment to developing
a positive, respectful relationship by understanding the traditional knowledge and customs of our First Nation
stakeholders to better appreciate how the Pickle Lake Gold Project may affect the community.
Permitting and Tenure
The Company remains substantially permitted for early exploration activity across the Pickle Lake Gold Project.
The next permit renewal (Western Patricia Prospect) is due in November 2024.
Table 1 – Mines Department Granted Early Exploration Permits (PLGP).
Permit Number
PR-20-000360
PR-22-000075
PR-22-000092
PR-22-000014
PR-22-000164
PR-22-000181
PR-22-000167
PR-22-000168
PR-22-000166
PR-22-000182
PR-22-000255
PR-22-000310
PR-22-000311
PR-22-000312
PR-22-000334
PR-23-000205
PR-23-000216
Highway Entrance Permit
EN-2020-61T-00000112
Prospect
West Patricia
Meen-Cooper
New Patricia
Dorothy Dobie
250 / 250 North
Keating
Duffell
Jean
Dempster
West Pickle
Kawashe / Kawashe North
Kasagiminnis North
Fry McVean
Relyea
Nabemakoseka
Kasagiminnis
South Limb
Kasagiminnis
Hub
Western
Western
Western
Western
Eastern
Eastern
Southern
Eastern
Southern
Eastern
Southern
Eastern
Southern
Southern
Southern
Western
Western
Eastern
Permit Expiry Date
21 November 2024
16 May 2025
23 May 2025
25 May 2025
19 July 2025
23 July 2025
26 July 2025
26 July 2025
26 July 2025
26 July 2025
25 September 2025
17 January 2026
17 January 2026
17 January 2026
20 March 2026
25 September 2026
25 September 2026
31 December 2024
CORPORATE
Board Changes
As previously advised, Mr Greg Romain stepped down from his role as Managing Director and CEO effective 13
May 2024. Current Chief Financial Officer, Tara Robson has assumed the role of interim CEO. The change has
been implemented as part of a broader restructuring which decreased the board size to 3.
Financial Position
The Company had a strong cash balance at 30 June 2024 of A$10.8 million with a further A$1.2 million (CAD1.12
million) held by Canada Revenue Authority (CRA) expected to be received in the next 6 months. The balance at
CRA represents withholding tax held in relation to the sale of the final 20% interest in the Ontario Lithium Joint
Venture to Green Technology Metals (GT1) in November 2022 (ASX Release 7 November 2022), specifically the
deferred consideration received from GT1 in June 2023 (ASX Release 23 June 2023).
Cash outflows for the quarter comprised staff costs $348k and corporate administration of $85k. Amounts were
offset by the receipt of $93k of interest.
The Company had a net cash outflow from exploration and evaluation of $62k and property, plant and
equipment of $2k.
Payments to related parties and their associates totalled $274k (consisting of CEO salary, Non-executive
Directors fees, superannuation payments, and a final payment made to Greg Romain upon resignation of $166k).
4|Page
Ardiden continues to retain ~13 million shares in Green Technology Metals (ASX: GT1), which it acquired as part
proceeds from the sale of Ardiden’s lithium assets. These shares were released from escrow on 10 November
2023. The current value of the holding is ~$756k2.
The detail of the cash receipts and payments is set out in Appendix 5B.
New Opportunities
Whilst the Company is well funded, the Board is mindful of the macroeconomic headwinds facing junior
explorers and remains committed to maximizing shareholder value through disciplined exploration and review
of strategic opportunities. The Board and management are actively pursuing these opportunities with a focus
on enhancing the Company’s resource base.
This information is authorised for ASX release by the Board.
ENDS
For further information:
Tara Robson
Interim CEO
Tel: +61 8 6184 5938
info@ardiden.com.au
More information is available from the Company’s website: www.ardiden.com.au
About Ardiden
Ardiden is focused on systematic gold exploration at its 100%- Owned Pickle Lake Gold Project in the well-endowed Uchi
Geological Subprovince of north-west Ontario, Canada. The Company’s District-Scale Gold Project is the largest continuous
gold land holding in the Uchi Belt, where Barrick, Newmont, Kinross, and Evolution all hold significant gold mine and
exploration assets. Ardiden’s strategic landholding is situated on the same geological belt as Red Lake, the ‘Uchi’
Subprovince, which has produced over 30M oz of gold to date.
Competent Person’s Statement
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 in the case of estimates of
mineral resources, that all material assumptions and technical parameters underpinning the estimates in the
relevant market announcement 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.
Forward Looking Statement
This announcement may contain some references to forecasts, estimates, assumptions and other forwardlooking statements. Although the Company believes that its expectations, estimates and forecast outcomes are
based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by
a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the
nature of the business, which could cause actual results to differ materially from those expressed herein. All
references to dollars ($) and cents in this presentation are to Australian currency, unless otherwise stated.
Investors should make and rely upon their own enquires and assessments before deciding to acquire or deal in
the Company’s securities.
2
As at closing price ($0.058) of GT1 on 29 July 2024
5|Page
QUARTERLY TENEMENT SUMMARY
All of the Company’s tenements are granted and located in Ontario, Canada.
1.
The mining tenements held at the end of the quarter and their location.
Gold Projects
Tenement Number/Claim ID
Pickle Lake Connections
536230, 536231, 536232, 536233, 536234, 536235, 536236, 536237, 536238,
536239, 536240, 536241, 536242, 536243, 536244, 536245, 536246, 536247,
536248, 536249, 541336, 541337, 541341, 541344, 541345, 541346, 541350,
541355, 541358, 541359, 541360, 541361, 541366, 541367, 541368, 541369,
541370, 541371, 541372, 541373, 541374, 541375, 541376, 541377, 541378,
541379, 541380, 541381, 541382, 541383, 541384, 541385, 541386, 541387,
541388, 541389, 541390, 541391, 541392, 541393, 541393, 541394, 541395,
541396, 541397, 541398, 541399, 541400, 541401, 566571, 566572, 566573,
566574, 566575, 566576, 566577, 566578, 566579, 566580, 566581, 566582,
566583, 566584, 566585, 566586, 566587, 566588, 566589, 566590, 566591,
566592, 566593, 566594, 566595, 566596, 566597, 566598, 566599, 566600,
566601, 566602, 566603, 566604, 566605, 566606, 566607, 566608, 566609,
566610, 566611, 566612, 566613, 566614, 566615, 566616, 566617.
579770, 579771, 579772, 579773, 579774, 579997, 579998, 580004, 580005,
580006, 580007, 580008, 580009, 580010, 580015, 580016, 580017, 580018,
580019, 580020, 580021, 580022, 580023, 580024, 580025, 580026, 580027,
580028, 580029, 580030, 580031, 580032, 580033, 580034, 580035, 580036,
580037, 580038, 580039, 580040, 580041, 580042, 580043, 580044, 580045,
580046, 580047, 580048, 580049, 580050, 580051, 580052, 580053, 580054,
580055, 580056, 580057, 580058, 580059, 580060, 580061, 580062, 580063,
580064, 580065, 580066, 580067, 580068, 580069, 580070, 580071, 580072,
580073, 580074, 580075, 580076, 580077, 580078, 580079, 580080, 580081,
580082, 580083, 580084, 580085, 580086, 580087, 580088, 580089, 580090,
580091, 580092, 580093, 580094, 580095, 580096, 580097, 580098, 580099,
580100, 580101, 580102, 580103, 580104, 580105, 580106, 580107, 580108,
580109, 580110, 580111, 580112, 580113, 580114, 580115, 580116, 580117,
580118, 580119, 580120, 580121, 580122, 580123, 580124, 580125, 580126,
580127, 580128, 580129, 580130, 580131, 580132, 580133, 580134, 580135,
580136, 580137, 580138, 580139, 580140, 580141, 580142, 580151, 580152,
580153, 580154, 580155, 580156, 580189, 580190, 580295, 580296, 580297,
580298, 580299, 580300, 580301, 580302, 580303, 580304, 580305, 580306,
580307, 580308, 580309, 580310, 580311, 580312, 580313, 580314, 580315,
580316, 580317, 580318, 580319, 580320, 580321, 580322, 580323, 580324,
580325, 580326, 580327, 580328, 580329, 580330, 580331, 580332, 580333,
580334, 580335, 580336, 580337, 580338, 580339, 580340, 580341, 580342,
580343, 580344, 695376, 704865, 704866, 704867, 704868, 704869, 704870,
704871, 704872, 704873, 704874, 704875, 704876, 704877, 704878, 704879,
704880, 704881, 704882, 704883, 704885, 704886, 704887, 704888, 704889,
704890, 704891, 704893.
104984, 105912, 106176, 106277, 106701, 108546, 108547, 110665, 112086,
112889, 112990, 123364, 124723, 128625, 129964, 130012, 130849, 130944,
130945, 131221, 133040, 133429, 134232, 134448, 134753, 135762, 136226,
140102, 140103, 140104, 141205, 143008, 143009, 145694, 146037, 146857,
146858, 147714, 149493, 149494, 150199, 150524, 150822, 150823, 154016,
154661, 155274, 156088, 159811, 161295, 161344, 161961, 162581, 162582,
163914, 163956, 166547, 166548, 168691, 169333, 169948, 176602, 176661,
176770, 176793, 176991, 178279, 178630, 178776, 181433, 183363, 183657,
183658, 183659, 183660, 183661, 183802, 186059, 186838, 186839, 186840,
187792, 187793, 192633, 193812, 195459, 195771, 196502, 200893, 201767,
Pickle Lake –
Dempster Lake
Pickle Lake –
Dorothy Dobie
6|Page
Beneficial
Percentage
Interest
100%
100%
100%
Gold Projects
Pickle Lake –
Dorothy Dobie
North
7|Page
Tenement Number/Claim ID
Beneficial
Percentage
Interest
205183, 205184, 205185, 207317, 207318, 208735, 208736, 212985, 213019,
213020, 214000, 214531, 215430, 215446, 215505, 217414, 221873, 223180,
223229, 225203, 231209, 231210, 231211, 233344, 234028, 234647, 235998,
236504, 236505, 236506, 236858, 237737, 242025, 242026, 242027, 242865,
242885, 245369, 246370, 246778, 248523, 250184, 250376, 250377, 250729,
250918, 250919, 250920, 251226, 251227, 252855, 253832, 253833, 253834,
254138, 254139, 254140, 255485, 255486, 257816, 261457, 261968, 262541,
265913, 265914, 269312, 269419, 272648, 273934, 273935, 274481, 277187,
279407, 279431, 279432, 282045, 282178, 282650, 284007, 287953, 287954,
289318, 290701, 292076, 292077, 292078, 297909, 297946, 298040, 299720,
299721, 300389, 301466, 302098, 302509, 302510, 303780, 308300, 308702,
308703, 308704, 310059, 310268, 310973, 311804, 316960, 316961, 316984,
316985, 317711, 319530, 319856, 322018, 323277, 323278, 323279, 329251,
329351, 332358, 333405, 334448, 336319, 336320, 337656, 337657, 337827,
337828, 338360, 340200, 340994, 342957, 343787, 343788, 566618, 566619,
566620, 566621, 566622, 566623, 566624, 566625, 566626, 566627, 566628,
566629, 566630, 566631, 566632, 566633, 566634, 566635, 566636, 566637,
566638, 566639, 566640, 566641, 566642, 566643, 566644, 566645, 566646,
566647, 566648, 566649, 566650, 566651, 566652, 566653, 566654, 566655,
566656, 566657, 566658, 566659, 566660, 566661, 566662, 566663, 566664,
566935, 566936, 566937, 566938, 566939, 566940, 566941, 566942, 566943,
566944, 566945, 566946, 566947, 566948, 566949, 566950, 566951, 566952,
566953, 566954, 566955, 566956, 566957, 566958, 566959, 566960, 566961,
566962, 566963, 566964, 566965, 566966, 566967, 566968, 566969, 566970,
566971, 566972, 566973, 566974, 566975, 566976, 566977, 566978, 566979,
566980, 566981, 566982, 566983, 566984, 695378, 834414, 882191.
613951, 613952, 613953, 613954, 613955, 613956, 613957, 613958, 613959,
613960, 613961, 613962, 613963, 613964, 613965, 613966, 613967, 613968,
613969, 613970, 613971, 613972, 613973, 613974, 613975, 613976, 613977,
613978, 613979, 613980, 613981, 613982, 613983, 613984, 613985, 613986,
613987, 613988, 613989, 613990, 613991, 613992, 613993, 613994, 613995,
613996, 613997, 613998, 613999, 614000, 614001, 614002, 614003, 614004,
614005, 614006, 614007, 614008, 614009, 614010, 614011, 614012, 614013,
614014, 614015, 614016, 614017, 614018, 614019, 614020, 614021, 614022,
614023, 614024, 614025, 614026, 614027, 614028, 614029, 614030, 614031,
614032, 614033, 614034, 614035, 614036, 614037, 614038, 614039, 614040,
614041, 614042, 614043, 614044, 614045, 614046, 614047, 614048, 614049,
614050, 614051, 614052, 614053, 614054, 614055, 614056, 614057, 614058,
614059, 614060, 614061, 614062, 614063, 614064, 614065, 614066, 614067,
614068, 614069, 614070, 614071, 614072, 614073, 614074, 614075, 614076,
614077, 614078, 614079, 614080, 614081, 614082, 614083, 614084, 614085,
614086, 614087, 614088, 614089, 614090, 614091, 614092, 614093, 614094,
614095, 614096, 614097, 614098, 614099, 614100, 614101, 614102, 614103,
614104, 614105, 614106, 614107, 614108, 614109, 614110, 614111, 614112,
614113, 614114, 614115, 614116, 614117, 614118, 614119, 614120, 614121,
614122, 614123, 614124, 614125, 614126, 614127, 614128, 614129, 614130,
614131, 614132, 614133, 614134, 614135, 614136, 614137, 614138, 614139,
614140, 614141, 614142, 614143, 614144, 614145, 614146, 614147, 614148,
614149, 614150, 614151, 614152, 614153, 614154, 614155, 614156, 614157,
614158, 614159, 614160, 614161, 614162, 614163, 614164, 614165, 614166,
614167, 614168, 614169, 614170, 614171, 614172, 614173, 614174, 614175,
614176, 614177, 614178, 614179, 614180, 614181, 614182, 614183, 614184,
614185, 614186, 614187, 614188, 614189, 614190, 614191, 614192, 614193,
100%
Gold Projects
Pickle Lake –
Duffell Lake
Pickle Lake –
Fry-McVean
Pickle Lake –
Jean Lake
Pickle Lake –
Kasagiminnis
Pickle Lake –
Kasagiminnis
North
8|Page
Tenement Number/Claim ID
614194, 614195, 614196, 614197, 614198, 614199, 614200, 614201, 614202,
614203, 614204, 614205, 614206, 614207, 614208, 614209, 614210, 614211,
614212, 614213, 614214, 614215, 614216, 614217, 614218, 614219, 614220,
614221, 614222, 614223, 614224, 614225, 614226, 614227, 614228, 614229,
614230, 614231, 614232, 695374.
579696, 579697, 579698, 579699, 579700, 579701, 579702, 579703, 579704,
579705, 579706, 579707, 579708, 579709, 579710, 579711, 579712, 579713,
579714, 579715, 579716, 579717, 579718, 579719, 579720, 579721, 579722,
579723, 579724, 579725, 579726, 579727, 579728, 579729, 579730, 579731,
579732, 579733, 579734, 579735, 579736, 579737, 579738, 579739, 579740,
579741, 579742, 579743, 579744, 579745, 579746, 579747, 579748, 579749,
579750, 579751, 579752, 579753, 579754, 579755, 579756, 579757, 579758,
579759, 579760, 579761, 579762, 579763, 579764, 579765, 579766, 579767,
579768, 579769, 579993, 579994, 579995, 579996, 579999, 580000, 580001,
580002, 580003, 580011, 580012, 580013, 580014, 695351, 695352.
672256, 695231, 695232, 695233, 695234, 695235, 695236, 695237, 695238,
695239, 695240, 695241, 695242, 695243, 695244, 695245, 695246, 695247,
695248, 695249, 695250, 695251, 695252, 695253, 695254, 695255, 695256,
695257, 695258, 695259, 695260, 695261, 695262, 695263, 695264, 695265,
695266, 695267, 695268, 695269, 695270, 695271, 695272, 695273, 695274,
695275, 695276, 695277, 695278, 695279, 695280, 695281, 695282, 695283,
695284, 695285, 695286, 695287, 695288, 695289, 695290, 695291, 695292,
695293, 695294, 695295, 695296, 695297, 695298, 695299, 695300, 695301,
695302, 695303, 695304, 695305, 695306, 695307, 695308, 695309, 695310,
695311, 695312, 695313, 695314, 695315, 695316, 695317, 695318, 695319,
695320, 695321, 695322, 695323, 695324, 695325, 695358, 695367, 695372.
574692, 574693, 574694, 574695, 574696, 574697, 574698, 574699, 574700,
574701, 574702, 574703, 574704, 574705, 574706, 574707, 574708, 574709,
574710, 574711, 574712, 574713, 574714, 574715, 574716, 574717, 574718,
574719, 574720, 574721, 574730, 574734, 574735, 574736, 574737, 574738,
574739, 574740, 574741, 574792, 574793, 574794, 574795, 574796, 574797,
574798, 574799, 574800, 574801, 574802, 574803, 574804, 574805, 574806,
574807, 574808, 574809, 574810, 574811, 574812, 574813, 574814, 574815,
574816, 574817, 574818, 574819, 574820, 574821, 574822, 574823, 574824,
574825, 574826, 574827, 574828, 574829, 574830, 574831, 574832, 574833,
574834, 574835, 574836, 574837, 574838, 574839, 574840, 574841, 574864,
574865, 574866, 574867, 574868, 574869, 574870.
107775, 110169, 122183, 124715, 124717, 136219, 136220, 136221, 141049,
142242, 181427, 187592, 188198, 200883, 236849, 254414, 266397, 281542,
290905, 301653, 310311, 310962, 341763, 713443, 803062, 848611, 882121.
614233, 614234, 614235, 614236, 614237, 614238, 614239, 614240, 614241,
614242, 614243, 614244, 614245, 614246, 614247, 614248, 614249, 614250,
614251, 614252, 614253, 614254, 614255, 614256, 614257, 614258, 614259,
614260, 614261, 614262, 614263, 614264, 614265, 614266, 614267, 614268,
614269, 614270, 614271, 614272, 614273, 614274, 614275, 614276, 614277,
614278, 614279, 614280, 614281, 614282, 614283, 614284, 614285, 614286,
614287, 614288, 614289, 614290, 614291, 614292, 614293, 614294, 614295,
614296, 614297, 614298, 614299, 614300, 614301, 614302, 614303, 614304,
614305, 614306, 614307, 614308, 614309, 614310, 614311, 614312, 614313,
614314, 614315, 614316, 614317, 614318, 614319, 614320, 614321, 614322,
Beneficial
Percentage
Interest
100%
100%
100%
100%
100%
Gold Projects
Pickle Lake –
Kawashe Lake
9|Page
Tenement Number/Claim ID
614323, 614324, 614325, 614326, 614327, 614328, 614329, 614330, 614331,
614332, 614333, 614334, 614335, 614336, 614337, 614338, 614339, 614340,
614341, 614342, 614343, 614344, 614345, 614346, 614347, 614348, 614349,
614350, 614351, 614352, 614353, 614354, 614355, 614356, 614357, 614358,
614359, 614360, 614361, 614362, 614363, 614364, 614365, 614366, 614367,
614368, 614369, 614370, 614371, 614372, 614373, 614374, 614375, 614376,
614377, 614378, 614379, 614380, 614381, 614382, 614383, 614384, 614385,
614386, 614387, 614388, 614389, 614390, 614391, 614392, 614393, 614394,
614395, 614396, 614397, 614398, 614399, 614400, 614401, 614402, 614403,
614404, 614405, 614406, 614407, 614408, 614409, 614410, 614411, 614412,
614413, 614414, 614415, 614416, 614417, 614418, 614419, 614420, 614421,
614422, 614423, 614424, 614425, 614426, 614427, 614428, 614429, 614430,
614431, 614432, 614433, 614434, 614435, 614436, 614437, 614438, 614439,
614440, 614441, 614442, 614443, 614444, 614445, 614446, 614447, 614448,
614449, 614450, 614451, 614452, 614453, 614454, 614455, 614456, 614457,
614458, 614459, 614460, 614461, 614462, 614463, 614464, 614465, 614466,
614467, 614468, 614469, 614470, 614471, 614472, 614473, 614474, 614475,
614476, 614477, 614478, 614479, 614480, 614481, 614482, 614483, 614484,
614485, 614486, 614487, 614488, 614489, 614490, 614491, 614492, 614493,
614494, 614495, 614496, 614497, 614498, 614499, 614500, 614501, 614502,
614503, 614504, 614505, 614506, 614507, 614508, 614509, 614510, 614511,
614512, 614513, 614514, 614515, 614516, 614517, 614518, 614519, 614520,
614521, 614522, 614523, 614524, 614525, 614526, 614527, 614528, 614529,
614530, 614531, 614532, 614533, 614534, 614535, 614536, 614537, 614538,
614539, 614540, 614541, 614542, 614543, 614544, 614545, 614546, 614547,
614548, 614549, 614550, 614551, 614552, 614553, 614554, 614555, 614556,
614557, 614558, 614559, 614560, 614561, 614562, 614563, 614564, 614565,
614566, 614567, 614568, 614569, 614570, 614571, 614572, 614573, 614574,
614575, 614576, 614577, 614578, 614579, 614580, 614581, 614582, 614583,
614584, 614585, 614586, 614587, 614588, 614589, 614590, 614591, 614592,
614593, 614594, 614595, 614596, 614597, 614598, 614599, 614600, 614601,
614602, 614603, 614604, 614605, 614606, 614607, 614608, 614609, 614610,
742484, 742485, 742486, 742487, 742488, 742489, 742490, 742491, 742492,
742493, 742493, 742494, 742495, 742496, 742497, 742498.
574871, 574872, 574873, 574874, 574875, 574876, 574877, 574878, 574879,
574880, 574881, 574882, 574883, 574884, 574885, 574886, 574887, 574888,
574889, 574890, 574891, 574892, 574893, 574894, 574895, 574896, 574897,
574898, 574899, 574900, 574901, 574902, 574903, 574904, 574905, 574906,
574907, 574908, 574909, 574910, 574911, 574912, 574913, 574914, 574915,
574916, 574917, 574918, 574919, 574920, 574921, 574922, 574923, 574924,
574925, 574926, 574927, 574928, 574929, 574930, 574931, 574932, 574933,
574934, 574935, 574936, 574937, 574938, 574939, 574940, 574941, 574942,
574943, 574944, 574945, 574946, 574947, 574948, 574949, 574950, 574951,
574952, 574953, 574954, 574955, 574956, 574957, 574958, 574959, 574960,
574961, 574962, 574963, 574964, 574965, 574966, 574967, 574968, 574969,
574970, 574971, 574972, 574973, 574974, 574975, 574976, 574977, 574978,
574979, 574980, 574981, 574982, 574983, 574984, 574985, 574986, 574987,
574988, 574989, 574990, 574991, 574992, 574993, 574994, 574995, 574996,
574997, 574998, 574999, 575000, 575001, 575002, 575003, 575004, 575005,
575006, 575007, 575008, 575009, 575010, 575011, 575012, 575013, 575014,
575015, 575016, 575017, 575018, 575019, 575020, 575021, 575022, 575023,
575024, 575025, 575026, 575027, 575028, 575029, 575030, 575031, 575032,
575033, 575034, 575035, 575036, 575037, 575038, 575039, 575040, 575041,
Beneficial
Percentage
Interest
100%
Gold Projects
Pickle Lake –
Kawashe Lake
North
Pickle Lake –
Keating Lake
Pickle Lake –
Meen Lake
10 | P a g e
Tenement Number/Claim ID
575042, 575043, 575044, 575045, 575046, 575047, 575048, 575049, 575050,
575051, 575052, 575053, 575054, 575055, 575056, 575057, 575058, 575059,
575060, 575061, 575062, 575063, 575064, 575065, 575066, 575067, 575068,
575069, 575070, 575071, 575072, 575073, 575074, 575075, 575076, 575077,
575078, 575079, 575080, 575081, 575082, 575083, 575084, 575085, 575086,
575087, 575088, 575089, 575090, 575091, 575092, 575093, 575094, 575095,
575096, 575097, 575098, 575099, 575100, 575101, 575102, 575103, 575104,
575105, 575106, 575107, 575108, 575109, 575110, 575111, 575112, 575113,
575114, 575115, 575116, 575117, 575118, 575119, 575120, 575121, 575122,
575123, 575124, 575125, 575126, 575127, 575128, 575129, 575130, 575131,
575132, 575133, 575134, 575135, 575136, 575137, 575138, 575139, 575140,
575141, 575142, 575143, 575144, 575145, 575146, 575147, 575148, 575149,
575150, 575151, 575152, 575153, 575154, 575155, 575156, 575157, 575158,
575159, 575160, 575161, 575162, 575163, 575164, 575165, 575166, 575167,
575168, 575169, 575170, 575171, 575172, 575173, 575174, 575175, 575176,
575177, 575178, 575179, 575180, 575181, 575182, 575183, 575184, 575185,
575186, 575187, 575188, 575189, 575190, 575191, 575192, 575193, 575194,
575195, 575196, 575197, 575198, 719921.
625482, 625483, 625484, 625485, 625486, 625487, 625488, 625489, 625490,
625491, 625492, 625493, 625494, 625495, 625496, 625497, 625498, 625499,
625500, 625502, 625503, 625504, 625505, 625506, 625507, 625508, 625509,
625510, 625511, 625512, 625513, 625514, 625515, 625516, 625517, 625518,
625519, 625520, 625521, 625522, 625523, 625524, 625525
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