Apex Resources Inc Kena Project

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NI 43-101

RESOURCE ESTIMATE FOR THE KENA AND DAYLIGHT PROPERTIES

Nelson Mining Division, British Columbia Map sheets: 82F.034, 82F.035, 82F.044, 82F.045 Latitude 49°26’N, Longitude 117°17'E

Centered at 5474150N, 481000E (NAD 83L Zone 11)

Submitted to: Apex Resources Inc. Effective Date: April 7, 2021 Date of Issue: May 3, 2021 Amended Date of Issue: July 19, 2021

Moose Mountain Technical Services

Sue Bird, P. Eng. #210 1510-2[nd] St. North Cranbrook, B.C. V1C 3L2 Canada Tel: 250.489.1212 Email: [email protected]

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Certificate of Qualified Person

I, Sue Bird, P.Eng., am employed as a Geological Engineer with Moose Mountain Technical Services, with an office address of #210 1510 2nd Street North Cranbrook, BC V1C 3L2. This certificate applies to the technical report titled “Resource Estimate for the Kena and Daylight Properties” that has an effective date of April 7, 2021 (the “technical report”).

I am a member of the self-regulating Association of Professional Engineers and Geoscientists of British Columbia (#25007). I graduated with a Geologic Engineering degree (B.Sc.) from the Queen’s University in 1989 and a M.Sc. in Mining from Queen’s University in 1993.
I have worked as an engineering geologist for over 25 years since my graduation from university. I have worked on precious metals, base metals and coal mining projects, including mine operations and evaluations. Similar resource estimate projects specifically include those done for Artemis’ blackwater gold project, Ascot’s Premier Gold Project, Spanish Mountain Gold, all in BC; O3’s Marban and Garrison, gold projects in Quebec and Ontario, respectively, as well as numerous due diligence gold projects in the southern US done confidentially for various clients.
As a result of my experience and qualifications, I am a Qualified Person as defined in National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101).
I visited the property between 26 and 28 January 2021.
I am responsible for all sections of the technical report.
I am independent of Apex Resources Inc. as independence is described by Section 1.5 of NI 43– 101.
I have no previous involvement with the Kena Project.
I have read NI 43–101 and the sections of the technical report for which I am responsible have been prepared in compliance with that Instrument.

As of the effective date of the technical report, to the best of my knowledge, information and belief, the sections of the technical report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the technical report not misleading.

Amended Date: 19 July 2021

Signed and Sealed

________ Signature of Qualified Person Sue Bird, P.Eng.

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1.1	Introduction ............................................................................................................................. 10
1.2	Terms of Reference ................................................................................................................. 11
1.3	Project Description and Location ............................................................................................. 11
	Location ............................................................................................................................... 11
	Mineral Tenure .................................................................................................................... 12
1.4	Accessibility, Climate, Local Resources, Infrastructure and Physiography ............................... 12
	Physiography ....................................................................................................................... 12
	Accessibility ......................................................................................................................... 13
	Climate ................................................................................................................................ 13
1.5	History ..................................................................................................................................... 13
1.6	Geological Setting and Mineralization ..................................................................................... 13
1.7	Exploration .............................................................................................................................. 14
1.8	Drilling ..................................................................................................................................... 14
1.9	Sampling and Analysis ............................................................................................................. 15
1.10	Data Verification ...................................................................................................................... 15
1.11	Environmental Studies, Permitting and Social or Community Impact ..................................... 16
1.12	Conclusions and Recommendations ........................................................................................ 16
1.13	Abbreviations........................................................................................................................... 16
2.1	Introduction ............................................................................................................................. 18
2.2	Terms of Reference ................................................................................................................. 18
2.3	Qualified Persons ..................................................................................................................... 18
2.4	Site Visits and Scope of Personal inspection ............................................................................ 18
2.5	Effective Dates ......................................................................................................................... 18
2.6	Information Sources ................................................................................................................ 18
3.1	Mineral Tenure ........................................................................................................................ 19
4.1	Introduction ............................................................................................................................. 20
4.2	Property and Mineral Title in British Columbia ........................................................................ 20
4.3	Project Ownership ................................................................................................................... 23
4.4	Mineral Tenure ........................................................................................................................ 25
5.1	Physiography ........................................................................................................................... 31
5.2	Accessibility ............................................................................................................................. 31
5.3	Climate .................................................................................................................................... 31
5.4	Local Resources and Infrastructure ......................................................................................... 31
6.1	Kena Property .......................................................................................................................... 32
	Historic Kena Property......................................................................................................... 32
	Shaft Claims ......................................................................................................................... 35
6.2	Daylight Property ..................................................................................................................... 35

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	*Apex Resources Inc*
	*Kena Project*
6.3	Southern Extension.................................................................................................................. 36
7.1	Regional Geology ..................................................................................................................... 37
7.2	Local and Property Geology ..................................................................................................... 37
7.3	Elise Formation ....................................................................................................................... 37
7.4	Silver King Intrusions............................................................................................................... 38
7.5	STRUCTURE, ALTERATION AND MINERALIZATION ................................................................... 39
7.6	Gold Mountain Zone (“GMZ”) ................................................................................................. 39
7.7	Kena Gold Zone........................................................................................................................ 40
7.8	South Gold Zone ...................................................................................................................... 40
7.9	Kena Copper Zone ................................................................................................................... 40
7.10	Shaft and Cat Zones ................................................................................................................. 41
7.11	Daylight Zone ........................................................................................................................... 41
9.1	Kena Property Exploration ....................................................................................................... 44
	Kena Soil Geochemistry ....................................................................................................... 44
	Kena Rock Geochemistry ..................................................................................................... 48
	Kena Trenching .................................................................................................................... 48
	Kena Geophysics.................................................................................................................. 50
9.2	Daylight Property Exploration .................................................................................................. 55
	Daylight Soil Geochemistry .................................................................................................. 56
	Daylight Rock Geochemistry ................................................................................................ 57
	Daylight Rock Sampling and Trenching ................................................................................ 58
10.1	Summary of Drilling ................................................................................................................. 64
	Kena-Gold Mountain Drilling Summary ........................................................................... 67
	Copper Zone Drilling Summary ....................................................................................... 67
	Daylight Drilling Summary ............................................................................................... 68
	Great Eastern and Great Western Drilling Summary ....................................................... 68
10.2	1974 Drilling – Ducanex Resources Ltd. ................................................................................... 68
10.3	1981 Drilling – Kerr Addison Mines Ltd. ................................................................................... 69
10.4	1985-1986 Drilling – Lacana Mining Corporation .................................................................... 69
10.5	1987 Drilling – Tournigan Mining Explorations Ltd. ................................................................. 69
10.6	1988 Drilling – South Pacific Gold ............................................................................................ 69
10.7	1990-1991 Drilling – Noramco Mining Corporation ................................................................. 69
10.8	2001-2010 Drilling – Sultan / Apex .......................................................................................... 70
10.9	2012 Drilling – Altair Gold Inc. ................................................................................................. 71
10.10	2017 Drilling – Prize Mining Corporation ................................................................................. 72
11.1	Sampling Protocols and Principal Laboratories ........................................................................ 73
	Sampling by Prize Mining Corporation 2017 (Daylight, Great Eastern & Great Western)73
	Sampling by Altair Gold Inc. 2012 (Kena) ........................................................................ 74
	Sampling by Apex 1999-2010 (All Zones) ........................................................................ 75
	Sampling by Noramco Mining Corporation 1990-1991 (Kena & Cu Zone) ...................... 76

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	Sampling by Tournigan Mining Explorations Ltd. 1987 (Kena & Cu Zone)....................... 76
	Sampling by Lacana Mining Corporation 1985-1986 (Kena & Cu Zone) .......................... 77
	Years without Sampling Records ..................................................................................... 77
11.2	QAQC Summary ....................................................................................................................... 77
	Great Eastern & Great Western QAQC ............................................................................ 78
	Daylight QAQC ................................................................................................................ 87
	Kena-Gold Mountain QAQC ............................................................................................ 96
11.3	Conclusions and Recommendations ...................................................................................... 105
12.1	Site Visit ................................................................................................................................. 106
12.2	Data Audit .............................................................................................................................. 106
	Corrections to Database ................................................................................................ 106
	Certificate Checks.......................................................................................................... 107
12.3	Check Assays .......................................................................................................................... 109
	2021 Core Duplicates .................................................................................................... 109
	2001-2002 Data Verification Check Assays ................................................................... 110
	1990 Chemex Check Assays – Copper Zone .................................................................. 113
12.4	Conclusions and Recommendations ...................................................................................... 115
14.1	Kena Mineral Resource .......................................................................................................... 118
14.2	Key Assumptions and Data used in the Estimate ................................................................... 120
14.3	Geologic Modelling ................................................................................................................ 123
14.4	Assay Statistics and Capping .................................................................................................. 126
14.5	Compositing ........................................................................................................................... 129
14.6	Density Assignment ............................................................................................................... 130
14.7	Block Model Interpolations ................................................................................................... 130
	Variography ................................................................................................................... 131
14.8	Classification of Mineral Resources ....................................................................................... 133
	Global Grade Validation ................................................................................................ 135
	Grade-Tonnage Curves .................................................................................................. 135
	Visual Comparisons ....................................................................................................... 137
14.9	Reasonable Prospects of Eventual Economic Extraction ....................................................... 141
14.10	Factors That May Affect the Mineral Resource Estimate....................................................... 143
14.11	External Review ..................................................................................................................... 143
14.12	Risk Assessment ..................................................................................................................... 143

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	*Apex Resources Inc*
	*Kena Project*
23.1	Silver King Mine..................................................................................................................... 147
23.2	Athabasca Mine and California Prospect .............................................................................. 147
25.1	Geology and Mineralization ................................................................................................... 149
25.2	Exploration and Drilling ......................................................................................................... 149
25.3	Sample Preparation and Analysis .......................................................................................... 149
25.4	Data Verification .................................................................................................................... 149
25.5	Mineral Resource Estimate .................................................................................................... 149
26.1	Exploration and Drilling ......................................................................................................... 150
26.2	QAQC and Check Assay Recommendations ........................................................................... 152

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LIST	OF TABLES	OF TABLES
Table	1-1	Kena Mineral Resource Estimate – Total Project ......................................................................... 10
Table	1-2	Recommended Exploration Program ........................................................................................... 16
Table	4-1	Kena Property Claims and Tenure ............................................................................................... 25
Table	4-2	Daylight Property Claims and Tenure .......................................................................................... 29
Table	4-3	Daylight Property Crown Grants .................................................................................................. 30
Table	9-1	Kena Summary of Trenching ........................................................................................................ 48
Table	9-2	Kena Trenching Significant Sample Results .................................................................................. 49
Table	10-1	Summary of Drilling - All Zones .................................................................................................... 64
Table	10-2	Kena-Gold Mountain Summary of Drilling ................................................................................... 67
Table	10-3	Copper Zone Summary of Drilling ................................................................................................ 68
Table	10-4	Daylight Summary of Drilling ....................................................................................................... 68
Table	10-5	Great Eastern & Great Western Summary of Drilling ................................................................... 68
Table	11-1	QAQC Sample Summary (All Areas – Years 2012 and 2017 only) ................................................. 78
Table	11-2	Great Eastern & Great Western CRM Analysis Results Gold ......................................................... 80
Table	11-3	Great Eastern & Great Western CRM Analysis Results Copper ..................................................... 83
Table	11-4	Daylight CRM Analysis Results Gold ............................................................................................. 89
Table	11-5	Daylight CRM Analysis Results Copper ......................................................................................... 92
Table	11-6	Kena-Gold Mountain CRM Analysis Results Gold ......................................................................... 98
Table	11-7	Kena-Gold Mountain CRM Results Analysis Copper ................................................................... 101
Table	11-8	Kena-Gold Mountain Duplicates Simple Statistics (outlier removed) ......................................... 102
Table	12-1	Summary of Missing Certificates ............................................................................................... 108
Table	12-2	2021 Check Assays Sample List .................................................................................................. 109
Table	12-3	2001-2002 Check and Re-Assays ............................................................................................... 110
Table	12-4	2001-2002 Chemex Check Assays by Area ................................................................................. 111
Table	12-5	ACME 2001-2002 Re-Assays ...................................................................................................... 112
Table	12-6	1990 Chemex Check Assays Statistics – Copper Zone ................................................................ 113
Table	13-1	Results of Bottle Roll Test on 01GM03 ....................................................................................... 116
Table	14-1	Kena Mineral Resource Estimate – Total Project ....................................................................... 118
Table	14-2	Kena Mineral Resource Estimate – Kena Gold Deposit .............................................................. 119
Table	14-3	Kena Mineral Resource Estimate – Gold Mountain Deposit ....................................................... 119
Table	14-4	Kena Mineral Resource Estimate – Daylight Deposit .................................................................. 120
Table	14-5	Summary of Drillhole and Assays used in the Kena Resource Estimate ...................................... 121
Table	14-6	Summary of Capping by Area and Capping Domain ................................................................... 128
Table	14-7	Summary Statistics of Capped Assays and Composites .............................................................. 129
Table	14-8	Summary of Block Model Extents .............................................................................................. 131
Table	14-9	Summary of Orientations for Interpolation ............................................................................... 132
Table	14-10	Summary of Correlogram Parameters ....................................................................................... 132
Table	14-11	Search Parameters for Au and Cu .............................................................................................. 133
Table	14-12	Additional Search Criteria .......................................................................................................... 133
Table	14-13	Summary of Model Grade Comparison with De-Clustered Composites by Domain .................... 135
Table	14-14	Summary of Base Case Economic Inputs.................................................................................... 141
Table	14-15	Costs used for Lerchs-Grossmann Resource Pit ......................................................................... 142
Table	14-16	List of Risks and Mitigations/Justifications ................................................................................. 143
Table	26-1	Proposed Budget – Phase 1 ....................................................................................................... 150
Table	26-2	Proposed Budget - Phase 2 ........................................................................................................ 151
Table	26-3	Recommended Exploration Budget Summary ........................................................................... 152

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LIST	OF FIGURES	OF FIGURES
Figure	1-1	Kena Project Location Map (Source: MMTS, 2021) ...................................................................... 12
Figure	4-1	Kena Project Map (Source: MMTS, 2021) .................................................................................... 22
Figure	9-1	Kena Project Soil Geochemistry for Gold (Source: MMTS, 2021).................................................. 46
Figure	9-2	Kena Project Soil Geochemistry for Copper (Source: MMTS, 2021) ............................................. 47
Figure	9-3	Combined Magnetics including the 2003 Airborne, 2003 Ground and 2012 Ground Surveys (Source:
		Giroux, 2013) .............................................................................................................................. 52
Figure	9-4	Magnetic Survey Near Gold Mountain (Source: Giroux, 2013) ..................................................... 53
Figure	9-5	Compilation of Lineation and Faulting Identified in all Processing Methods (Source: Giroux, 2013) .
		.................................................................................................................................................... 54
Figure	9-6	LiDAR Survey Coverage Over the Kena Property (Source: Giroux, 2013) ...................................... 55
Figure	9-7	Daylight 2017 Soil Sample Locations and Results (Source: TerraLogic, 2018) ............................... 57
Figure	9-8	Daylight Trench and Rock Sample Locations with Gold Results (Source: TerraLogic, 2018) ..............
		.................................................................................................................................................... 59
Figure	9-9	Daylight Ground Magnetic Survey (Source: TerraLogic, 2018) ..................................................... 61
Figure	9-10	Daylight Magnetic Survey with Surface Features (Source: TerraLogic, 2018) ............................... 63
Figure	10-1	Kena Project Drillhole Locations (Source: MMTS, 2021) .............................................................. 65
Figure	10-2	Kena Project Drillhole Operator and Year (Source: MMTS, 2021) ................................................ 66
Figure	11-1	Great Eastern & Great Western Blanks – Au (Source: MMTS, 2021) ............................................ 79
Figure	11-2	Great Eastern & Great Western Blanks – Cu (Source: MMTS, 2021) ............................................ 79
Figure	11-3	Great Eastern & Great Western CRM ME-1402 Process Control Chart (Au = 13.9 g/t) (Source:
		MMTS, 2021) ............................................................................................................................... 81
Figure	11-4	Great Eastern & Great Western CRM ME-1607 Process Control Chart (Au = 3.33g/t) (Source: MMTS,
		2021) ........................................................................................................................................... 82
Figure	11-5	Great Eastern & Great Western CRM ME-1414 Process Control Chart (Au = 0.284g/t) (Source:
		MMTS, 2021) ............................................................................................................................... 83
Figure	11-6	Great Eastern & Great Western CRM ME-1402 Process Control Chart (Cu = 2.9%) (Source: MMTS,
		2021) ........................................................................................................................................... 84
Figure	11-7	Great Eastern & Great Western CRM ME-1607 Process Control Chart (Cu = 0.310%) (Source: MMTS,
		2021) ........................................................................................................................................... 84
Figure	11-8	Great Eastern & Great Western CRM ME-1414 Process Control Chart (Cu = 0.22%) (Source: MMTS,
		2021) ........................................................................................................................................... 85
Figure	11-9	Great Eastern & Great Western Au Duplicates Scatter Plot (Source: MMTS, 2021) ...................... 86
Figure	11-10	Great Eastern & Great Western Cu Duplicates Scatter Plot (Source: MMTS, 2021) ...................... 87
Figure	11-11	Daylight Blanks – Au (Source: MMTS, 2021) ................................................................................ 88
Figure	11-12	Daylight Blanks – Cu (Source: MMTS, 2021) ................................................................................ 89
Figure	11-13	Daylight CRM ME-1402 Process Control Chart (Au = 13.9 g/t) (Source: MMTS, 2021) .................. 90
Figure	11-14	Daylight CRM ME-1607 Process Control Chart (Au = 3.33 g/t) (Source: MMTS, 2021) .................. 91
Figure	11-15	Daylight CRM ME-1414 Process Control Chart (Au = 0.284 g/t) (Source: MMTS, 2021) ................ 91
Figure	11-16	Daylight CRM ME-1402 Process Control Chart (Cu = 2.9 g/t) (Source: MMTS, 2021) .................... 92
Figure	11-17	Daylight CRM ME-1607 Process Control Chart (Cu = 0.31 g/t) (Source: MMTS, 2021) .................. 93
Figure	11-18	Daylight CRM ME-1414 Process Control Chart (Cu = 0.22 g/t) (Source: MMTS, 2021) .................. 94
Figure	11-19	Daylight Au Duplicates Scatter Plot (Source: MMTS, 2021) .......................................................... 95
Figure	11-20	Daylight Cu Duplicates Scatter Plot (Source: MMTS, 2021) .......................................................... 96
Figure	11-21	Kena-Gold Mountain Blanks – Au (Source: MMTS, 2021)............................................................. 97
Figure	11-22	Kena-Gold Mountain Blanks – Cu (Source: MMTS, 2021) ............................................................. 98
Figure	11-23	Kena-Gold Mountain CRM PM929 Process Control Chart (Au = 5.1 g/t) (Source: MMTS, 2021) ... 99
Figure	11-24	Kena-Gold Mountain CRM PM1123 Process Control Chart (Au = 1.42 g/t) (Source: MMTS, 2021)
		100

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Figure	11-25	Kena-Gold Mountain CRM PM459 Process Control Chart (Au = 0.37 g/t) (Source: MMTS, 2021) 101
Figure	11-26	Kena-Gold Mountain CRM PM1123 Process Control Chart (Cu = 0.31 %) (Source: MMTS, 2021) 102
Figure	11-27	Kena-Gold Mountain Au Duplicates Scatter Plot (Source: MMTS, 2021) .................................... 103
Figure	11-28	Kena-Gold Mountain Au 2012 Duplicates (Source: MMTS, 2021) .............................................. 103
Figure	11-29	Kena-Gold Mountain Cu Duplicates Scatter Plot (Source: MMTS, 2021) .................................... 104
Figure	11-30	Kena-Gold Mountain Cu 2012 Duplicates HARD Plot (Source: MMTS, 2021) .............................. 105
Figure	12-1	Kena-Gold Mountain 2021 Check Assays (Source: MMTS, 2021) ............................................... 110
Figure	12-2	2001-2002 Chemex Check Assays Kena-Gold Mountain Au (Source: MMTS, 2021) .................... 111
Figure	12-3	2001-2002 Chemex Check Assays HARD Plot Kena-Gold Mountain Au (Source: MMTS, 2021) ... 112
Figure	12-4	2001-2002 ACME Re-Assays Scatter Plot (Source: MMTS, 2021)................................................ 113
Figure	12-5	1990 Chemex Check Assays Gold (Source: MMTS, 2021) ........................................................... 114
Figure	12-6	1990 Chemex Check Assays Copper (Source: MMTS, 2021) ....................................................... 115
Figure	14-1	Drillhole Traces used in the Resource Estimate by Year ............................................................. 122
Figure	14-2	Simplified Logged Drillhole Lithology ......................................................................................... 124
Figure	14-3	Domains used for Interpolation ................................................................................................. 125
Figure	14-4	Domains used for Interpolation and Trace of Daylight Vein (red) (Source: MMTS, 2021) ................
		.................................................................................................................................................. 126
Figure	14-5	CPP of Au Assay Grades by Capping Domain – Kena Zone (Source: MMTS, 2021) ...................... 127
Figure	14-6	CPP of Au Assay Grades by Capping Domain – Gold Mountain Zone (Source: MMTS, 2021) ...... 128
Figure	14-7	Histogram of Assay Lengths (Source: MMTS, 2021) ................................................................... 130
Figure	14-8	Variogram for the Kena – Gold Mountain Domain along Strike.................................................. 131
Figure	14-9	Plan View of the Classification, the Drill Pattern, and the Resource Pit (Source, MMTS, 2021) .. 134
Figure	14-10	Grade-Tonnage Curve Comparison for Au – MI within the Resource Pit – Kena Gold (Source: MMTS,
		2021) ......................................................................................................................................... 136
Figure	14-11	Grade-Tonnage Curve Comparison for Au – MI within the Resource Pit – Gold Zone (Source: MMTS,
		2021) ......................................................................................................................................... 136
Figure	14-12	Grade-Tonnage Curve Comparison for Cu – MI within the Resource Pit - Daylight Vein (Source:
		MMTS, 2021) ............................................................................................................................. 137
Figure	14-13	Au Grade - Model Compared to Assays (+/- 30m) looking – Kena Gold (Source: MMTS, 2021) .. 138
Figure	14-14	Au Grade - Model Compared to Assays (+/- 30m) – Gold Mountain (Source: MMTS, 2021) .............
		.................................................................................................................................................. 139
Figure	14-15	Au Grade - Model Compared to Assays (+/- 50m) – Daylight (Source: MMTS, 2021) .................. 140
Figure	14-16	Three-dimensional View of the Resource Pit and AuEq blocks above 0.25g/t AuEq (Source: MMTS,
		2021) ......................................................................................................................................... 142

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Summary

1.1 Introduction

Moose Mountain Technical Services (MMTS) have prepared a technical report (the Report) for Apex Resources Inc (Apex) on a Resource Estimate of the Kena Project, which includes the Kena property and the Daylight Property, located in British Columbia, Canada. The Kena Project consists of the 153 mineral claims of the Kena property and the 21 mineral claims and 11 crown grants of the Daylight property. The Kena Project refers to exploration and development activity related to the deposits contained within the Kena and Daylight property claims and grants.

All claims and crown grants are currently held by West Mining. West Mining Corporation (West Mining) has entered into an asset purchase agreement dated April 7, 2021, to purchase Apex’s interest in the Kena and Daylight Properties.

The Table below summarizes the total model resource for the Kena Project which has an effective date of April 7, 2021.

Table 1-1 Kena Mineral Resource Estimate – Total Project

Class	Cut-off	Tonnage	Au	NSR	Au Metal
	Au(gpt)	(ktonnes)	(gpt)	(CDN$)	(Koz)
Indicated	0.1 0.15 0.2	44,006 41,895 37,663	0.449 0.465 0.497	34.51 35.69 38.09	635 625.7 602.0
	0.25	32,146	0.544	41.48	561.9
	0.3 0.5 1	26,274 11,863 2,662	0.604 0.869 1.526	45.78 65.92 113.34	510.2 331.4 130.6
Inferred	0.1 0.15 0.2	348,491 281,957 223,301	0.330 0.378 0.432	23.78 27.59 31.56	3,697 3,428.2 3,103.0
	0.25	177,508	0.486	35.57	2,773.1
	0.3 0.5 1	135,814 53,060 9,136	0.552 0.813 1.588	40.83 61.33 115.44	2,410.1 1,386.7 466.4

Notes for Table 1-1:

1. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines.

2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

3. The Mineral Resource has been confined by a “reasonable prospects of eventual economic extraction” pit using the following assumptions: 125% pit case case using an Au price of US$1600/oz at a currency exchange rate of 0.77 US$ per $CDN; 99.95% payable Au, 96.5% payable Cu; $4.30/oz Au offsite costs (refining, transport, and insurance), 0.467 Cu offsite; a 3% NSR royalty; and uses an 88% metallurgical recovery for gold.

4. Pit slope angles are assumed at 45º.

5. The specific gravity of the deposit has been assigned as 2.8 based on sg measurements in the Kena deposit 6. Numbers may not add due to rounding.

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The following factors, among others, could affect the Mineral Resource estimate: commodity price and exchange rate assumptions; pit slope angles; assumptions used in generating the LG pit shell, including metal recoveries, and mining and process cost assumptions. The QP is not aware of any environmental, permitting, legal, title, taxation, socioeconomic, marketing, political, or other relevant factors that could materially affect the Mineral Resource estimate.

1.2 Terms of Reference

All currencies are expressed in Canadian dollars ($CDN). Mineral Resources and Mineral Reserves are estimated using the 2019 edition of the Canadian Institute of Mining, Metallurgy and Exploration (CIM) Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (2019 CIM Best Practice Guidelines) and are reported using the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves (2014 CIM Definition Standards).

1.3 Project Description and Location

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Location

The Kena Project is in southern British Columbia (BC), approximately 7km south of Nelson and 400km east of Vancouver (Figure 1-1). The project site is readily accessible by vehicle from Highway 6 on Forest Service Roads.

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Figure 1-1 Kena Project Location Map (Source: MMTS, 2021)

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Mineral Tenure

The Kena Project is currently owned West Mining. The Kena property consists of 153 mineral claims totalling 8,109ha, excluding overlap. Nine claims in the Kena property expire in 2023, the remainder are good until 2027 or 2028. The Daylight property comprises 21 mineral claims, and 11 crown granted claims. The Daylight Claims are good through 2028.

1.4 Accessibility, Climate, Local Resources, Infrastructure and Physiography

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Physiography

Topography on the properties is steep with elevations ranging from 895m at Cottonwood Lake to 1,795m on the southwest portion of the claim area. Outcrop is somewhat limited - generally confined to creek gullies and road cuts, with more prevalent outcrops on steeper slopes. The Gold Mountain and K ena Gold Zones lie at an elevation of about 1,400m, along a relatively flat bench area above the steep topography leading to the Cottonwood valley.

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Accessibility

Highway 6 passes along the eastern margin of the claim block, and then bends southwest to cross the southern part of the property. Forest service roads provide access onto the property. The Highway 6 corridor carries a powerline and a decommissioned railbed.

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Climate

The climate of the Kena and Daylight properties is typical of the southern interior of British Columbia, with temperatures ranging between –20[] C to 30[] C. It is possible to operate on the property all year round; however, winter conditions do create challenges.

1.5 History

The current Kena Project was historically worked as several segmented properties. The area of the Kena Property was first described by G.M. Dawson in 1888, however little is known about exploration on the claim area prior to 1973, Since then the property has been optioned and worked by various companies. Apex obtained the Kena claims in 1999, and continued to expand them to include the Shaft, Daylight, and other claims thereafter. Prior to July 18, 2016, Apex operated under the name of Sultan Minerals.

1.6 Geological Setting and Mineralization

The Kena Project is situated within the Elise Formation of the Rossland Group. The Rossland Group, within the southern Omineca Crystalline Belt, is an uplifted zone of variably metamorphosed and deformed Proterozoic to Tertiary rocks that straddles the boundary between accreted terranes and ancestral North America. The Kena property lies within lower-Jurassic Elise Formation (Fm) mafic volcanics and associated mid- Jurassic Silver King dioritic porphyry (Silver King) rocks.

Exploration work has identified several zones of prospective gold or copper mineralization. Gold zones include Gold Mountain (GMZ), Kena Gold (KGZ), High-Grade (HGZ), and South Gold (SGZ). Copper (Cu) mineralization occurs in the Kena Copper (KCZ) zone. There are also several under-explored new and historic targets.

The mineralization at Kena may be related to a property-scale zone deformation zone associated with the contact between the Elise Fm and the Silver King. In particular, the Gold Mountain, Kena Gold, and South Gold zones occur along this trend.

The Gold Mountain and Kena Gold zones contain broad widths of bulk tonnage-style gold mineralization containing high-grade shoots, which is coincident with soil geochemistry and geophysical anomalies.

Mineralization in the sparsely drilled Kena Copper zone suggests a copper-gold porphyry-style model.

The southwestern half of the Daylight property is underlain by strongly sheared, undifferentiated mafic to intermediate volcanic rocks of the Jurassic Elise Formation (Je). The historical Starlight, Victoria and Daylight mines are aligned along a single, mostly continuous quartz vein traceable through the Daylight property area for at least 1300m. Gold mineralization has a strong affinity for the vein and its immediate contact margins, with only rare sample returns of anomalous gold in the host volcanics. Mineralization

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typically includes pyrite or rarely pyrrhotite, with minor chalcopyrite, with rare coarse grains of galena or sphalerite.

The northeast half of the Daylight property is underlain by variably altered and fractured felsic to intermediate intrusives of the Jurassic Silver King Porphyry (Jsk) stock. The property is immediately adjacent to the ~ 1km wide Silver King Shear system, which is host to the famous Silver King Mine. The historical Great Western and Great Eastern mines on the Daylight property are underlain by the Jurassic Silver King Porphyry (Jsk) near its southwestern contact margin with the Elise volcanics. Mineralization is in the form of sheeted quartz vein systems with accessory pyrite-chalcopyrite and rarely galena or sphalerite.

1.7 Exploration

From 2000 to 2003, significant exploration programs on the Kena Property were conducted. Work consisted of 97 diamond drillholes, ground and airborne magnetic surveys, induced polarization surveys, soil sampling, mapping and rock chip sampling and trenching. Between 2003 and 2010, continued annual exploration by Apex on the Kena and Daylight Properties has consisted of soil and rock chip sampling, geophysical surveys, geological mapping, trenching and additional diamond drilling.

In 2011, Apex optioned the Kena property (not including the Daylight) to Altair Gold Inc. In 2012, Altair completed an exploration program which included soil sampling, rock sampling, ground geophysics, geophysical compilation, diamond drilling and a LiDAR survey. The property subsequently reverted to Apex.

In 2016, the Kena and Daylight Properties were optioned to Prize/Boundary. Prize completed no additional exploration work on the Kena Property but in 2017 did mapping, prospecting, soil geochemical and geophysical surveys, trenching, environmental (water) sampling and diamond drilling on the Daylight Property. Detailed reports on each of the annual exploration programs have been filed as assessment reports with the Ministry of Energy and Mines.

1.8 Drilling

A total of 252 holes totalling 39,819.19m have been drilled in the model areas between 1974 and 2017 by multiple operators. Between 2001 and 2017, 28,366.36m have been drilled, or 71% of the drilling.

Drilling by Apex occurred in years 2001-2010. During 2001, a total of 29 diamond drillholes were completed, for a total of 4,901.1m on Kena-Gold Mountain. The first seven holes of 2001 confirmed the depth extension of widespread, porphyry-style gold mineralization within the Silver King intrusive and across the contact into the Elise Volcanics.

A second phase of drilling was conducted later in 2001 and into 2002, including diamond drillholes and reverse circulation drillholes. The results indicated zones of “bulk-tonnage type” gold mineralization, with multiple holes containing 100m wide zones averaging >1g/t gold. Several holes also intersected high-grade gold, indicating a gold-enriched zone spatially related to the contact between the Silver King Porphyry and the footwall of the Elise Volcanics.

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Through the summer and fall of 2002 drilling was carried out on all areas of the project. In the Gold Mountain area, holes tested the depth and strike length of gold mineralization, and the intrusive-volcanic contact. Many holes contained high grade gold assays over two-meter intervals, often surrounded by at least 100m of lower grade gold values, with many holes averaging over 0.3g/t gold for the entire length of the hole. The drilling in the Copper Zone was all within the Elise Volcanic package and showed that gold and copper mineralization increases and becomes widespread towards grid south.

All drilling in 2003 and 2004 was within the Kena-Gold Mountain area, 22 holes were completed in 2003, for a total of 1.086.73m, and four holes completed in 2004 for a total of 613.26m.

In 2010, ten holes were drilled by Apex, seven holes on Kena-Gold Mountain, totalling 845.24m, and three in the Copper Zone, totalling 740.05m.

In 2012 by Altair Gold Inc., 41 NQ2-sized diamond drillholes were completed in the Kena-Gold Mountain area, for a total of 7,527.02m. Drilling was intended to fill in gaps between wide-spaced drilling and expand the mineral resource and was successful in defining wide zones of gold mineralization with narrow higher-grade intervals, consistent with results from historic drilling.

In 2017, twelve holes were completed by Prize Mining on Daylight, totalling 1,669.71m, and six holes were completed on Great Eastern and Great Western, totalling 1,025.06m.

1.9 Sampling and Analysis

Previous owners have conducted all drill core handling and sampling.

The two latest drilling campaigns include QAQC samples, however the prior drilling included in the resource database do not. The percent of QAQC samples is considered lower than normal, and a possible high bias is indicated by two gold CRMs in the 2012 drilling, which may reflect the small number of QAQC samples, or problems with the materials themselves. There are no QAQC samples in the drilling in the Copper Zone. In the opinion of the QP, the QAQC is accepted for resource estimation at this time.

1.10 Data Verification

A site visit was undertaken by the QP during 26-28 January 2021 to review the site location, core storage, core geology, and protocols. During the site visit, twelve drill core samples were selected for check assay by the QP, and the results are acceptable.

The QP notes multiple corrections to the database including the addition of missing copper assays to intervals within the copper zone, and addition of all certificate numbers to the database. It is also noted that approximately 20% of assays are missing certificates in the Assessment Reports.

Check assays with certificates are available for drilling in years 1990, 2001, and 2002, with the results from 2001-2002 showing potential small high bias to the gold assays.

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The QP has accepted the database for resource estimation.

1.11 Environmental Studies, Permitting and Social or Community Impact

1.12 Conclusions and Recommendations

The QP concludes that the mineral resource estimate contained in this report warrants further exploration.

The following recommendation are made by the QP:

Future drilling programs employ QAQC sample inclusion rates consistent with current practice to include blanks, field duplicates and CRMs, and that certified blank material be sourced for future assaying.
Although the resource database has been verified and is deemed acceptable, a robust check assay sampling program including QAQC samples be conducted using a certified laboratory comprising 5-10% of core for years for which drill core is available to compensate for missing certificates, lack of QAQC samples and potential bias noted in the 2012 drilling QAQC and 2001-2002 check assays.
• The assay database be amended to include silver and copper for all available samples from certificates.

The QP recommends a drill program in two phases as outlined in the Table below.

Table 1-2 Recommended Exploration Program

Phase	Item	Budget($CDN)
Phase 1	Diamond Drilling - Daylight: Historic Core Re-Assaying - Daylight Total - Phase 1	$ 294,625 $ 86,875 $381,500
Phase 2	Diamond Drilling – Kena Mapping, Prospecting, Rock Chip - Southern Ext. Total - Phase 2	$ 1,210,375 $ 89,625 $1,300,000
Total Budget Recommended		$ 2,510,375

1.13 Abbreviations

List of Abbreviations used throughout the report:

T tonnes (Metric)
Mt Millions of tonnes
k thousands

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g/t grams/tonne
CMR Certified Reference Material
QAQC Quality Assurance/Quality Control
US$ US Dollars
CDN$ Canadian Dollars
M millions
BC British Columbia
CSA Canadian Securities Administration
UTM Universal Transverse Mercator
SG Specific Gravity
• RC Reverse Circulation
DH Drillhole
GSC Geological Survey of Canada
EA Environmental Assessment
ENS Electronic Navigation Systems

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Introduction

2.1 Introduction

Moose Mountain Technical Services (MMTS) has prepared a technical report (the Report) for Apex Resources Inc. (Apex) on a Resource Estimate of the Kena Project, located south of Nelson in British Columbia, Canada, approximately 400km east of Vancouver. The Kena Project is currently owned by West Mining with Apex being the Issuer required to produce an updated technical report. Apex Resources Inc. is a Vancouver based precious and base metal exploration company focused on British Columbia and the Yukon.

2.2 Terms of Reference

All currencies are expressed in Canadian dollars ($CDN) unless otherwise stated. Mineral Resources and Mineral Reserves are estimated using the 2019 edition of the Canadian Institute of Mining, Metallurgy and Exploration (CIM) Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines (2019 CIM Best Practice Guidelines) and are reported using the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves (2014 CIM Definition Standards).

The Kena Project consists of the 153 mineral claims of the Kena property and the 21 mineral claims and 11 crown grants of the Daylight property.

2.3 Qualified Persons

The following serve as the qualified persons (QPs) for this Technical Report as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects , and in compliance with Form 43-101F1:

Sue Bird, P.Eng., Moose Mountain Technical Services

2.4 Site Visits and Scope of Personal inspection

Sue Bird visited the Kena Project site on 26-28 January 2021. Sue reviewed drill pad locations, drilling and sampling protocols, the core storage, and the QA/QC procedures. The geology and mineralization within pertinent drillholes were also inspected and reviewed.

2.5 Effective Dates

The report has the following effective dates:

Date of the Mineral Resource estimate: April 7, 2021.

2.6 Information Sources

Information sources used in compiling this Report are included in Section 27.

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Reliance on Other Experts

The QP of this Report state that they are qualified persons for those areas as identified in the "Certificate of Qualified Person" for each QP, as included in this Report. The QPs have relied and believe there is a reasonable basis for this reliance, upon the following other expert reports, which provided information regarding sections of this report as noted below.

3.1 Mineral Tenure

The QP has not reviewed the mineral tenure, nor independently verified the legal status, ownership of the Project area or underlying property agreements. The QP has fully relied upon, and disclaims responsibility for, information supplied by Apex for Section 4.3 and Section 4.4 of this report. This information was provided by Apex on March 24, 2021 from their corporate files (Apex, 2016) and from the BC Mineral Titles Online Website in March 2021. The Kena and Daylight claims have now been transferred to West Mining and can be found under their name on Mineral Titles Online.

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Property Description and Location

4.1 Introduction

The current Kena Project was historically worked as several segmented properties. Within the Kena Project, there are now three areas individually referred to as the Kena Property, Daylight Property and Southern Extension. The current resource estimate only includes the Kena and Daylight Properties as the southern Extension is not advanced enough for a Resource Estimate. The project lies in southern British Columbia, approximately 400km east of Vancouver, BC and 5km southeast of Nelson, BC.

The Kena property, located within the Nelson Mining Division, is centered at a latitude and longitude of 49°26’ N, 117°17' E, within map sheets 82F.034, 82F.035, 82F.044, and 82F.045.

The Daylight property is located northwest of and adjoins the Kena property. The claims cover an area of approximately 270 hectares and are centered at Latitude 49°29' 56'' N, Longitude 117°18' 02'' W (UTM Z11N 0478200 E, 5475550 N NAD83).

The locations of the Kena and Daylight properties of the Kena Project are shown in Figure 4-1.

4.2 Property and Mineral Title in British Columbia

Prior to 1 June 1991, recordation in respect of a mineral claim or mining lease in British Columbia were manually recorded on, or attached to, the original application document for a mineral claim or the original lease document for a mining lease. From June 1991 to 11 January 2005, all records were entered into a computer database, maintained by the Gold Commissioner’s Office. On 12 January 2005, the British Columbia mineral titles system was converted to an online registry system, MTO, and ground-staking of claims was eliminated in favour of map-staking based on grid cells.

Claims recorded prior to 12 January 2005 are referred to as legacy claims; Claims acquired through map staking are referred to as cell claims. From and after the date of changeover to map-staking, claim holders could convert legacy claims to cell claims, or maintain the original legacy claim. Legacy claims vary in size and shape, depending on the regulations that were in force at the time of staking and recordation. Cell claims comprise from 1 to 100 cells which range from 21 hectares in southern British Columbia to 16 hectares in the north.

Mineral title may also be held as part of Crown grants or freehold tenure issued under separate grant, such as a railway grant. Crown-granted mineral rights originate from staked mineral claims that were surveyed then granted from the Crown to private individuals or corporations under the legislation in effect at the time of grant.

There can be instances where there may be more than one type of mineral tenure in existence over the same land area; examples are where a Crown-granted mineral title is overlapped by a mineral tenure granted under the Mineral Tenure Act (British Columbia) (the MTA). In this case, the holder of the MTA mineral tenure is entitled only to those minerals not covered in the Crown-granted mineral title.

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To keep claims in good standing in accordance with the MTA, a minimum value of work or cash-in-lieu is required annually. The minimum value of work required maintaining a legacy or cell mineral claim for one year is currently set at $5 per hectare for the first and second anniversary years, $10 per hectare for the third and fourth anniversary years, $15 per hectare in the fifth and sixth anniversary years and $20 per hectare for each subsequent anniversary year. The cash-in-lieu required to maintain a mineral claim for an anniversary year is double the value of the work commitment requirement.

The holder of a mineral claim or mining lease issued under the MTA does not have exclusive possession of the surface or exclusive right to use the surface of the land. However, the holder of such claims and leases does have the right to access the lands for the purpose of exploring for minerals and to use the surface for mining activities (exploration, development, and production).

The surface of a mineral claim or mining lease may either be privately owned or owned by the Crown.

The MTA provides for a recorded claim holder to use, enter, and occupy the surface of a claim for the exploration and development or production of minerals, including the treatment of ore and concentrates, and all operations related to the exploration and development or production of minerals and the business of mining, subject to production limits. Permits are required before undertaking most exploration or mining activity.

A mining lease is required if the claim holder wishes to produce more than 1,000 tonnes of ore in a year from each unit in a legacy claim (typically 25 hectares) or each cell in a cell claim. The holder of a mineral claim may obtain a mining lease for that claim if certain requirements are met (surveying if required, payment of fees, and posting of notices). A mining lease allows the lessee to hold Crown mineral lands for up to 30 years initially and is renewable if certain conditions are met. A recorded claim holder must give surface owners of private land and leaseholders of Crown land notice before entering for any mining activity. A recorded holder is liable to compensate the surface owner for loss or damage caused by the entry, occupation or use of the area for exploration and development or production of minerals.

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Figure 4-1 Kena Project Map (Source: MMTS, 2021)

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4.3 Project Ownership

The Kena Project is currently owned by West Mining.

West Mining entered into an asset purchase agreement dated as of April 7, 2021 with Apex pursuant to which the Company has agreed to acquire Apex’s interest in the Project from Apex in exchange for consideration of: aggregate cash payments of $300,000; an aggregate of 1,500,000 common shares of the Company (each, a “Share”); and granting Apex a 1.0% net smelter return (NSR) royalty on the Project, with West having the right to repurchase the NSR royalty for $500,000 at any time prior to the commencement of commercial production on the Project.

Closing of the West’s acquisition of the Project from Apex is complete and was subject to receipt of approval of the Canadian Securities Exchange (if and as required) by West and of the TSX Venture Exchange by Apex. The Company made a $100,000 cash payment on execution of the agreement, and the remaining $200,000 on the closing date. The Shares have been issued to Apex on the closing date as follows: 375,000 Shares will be subject to a four month hold period; 375,000 Shares will be subject to a four month hold period and a voluntary six-month escrow period; and 750,000 Shares will be subject to a four month hold period and a voluntary 12-month escrow period.

In conjunction with the asset purchase agreement with Apex, the Company has also entered into an amending agreement dated April 7, 2021, with Boundary Gold and Copper Mining Ltd. (“Boundary”), and Boundary’s wholly owned subsidiary, 1994854 Alberta Ltd. (“1994854”), which amends a share option agreement dated as of January 25, 2021, between the parties. Under the share option agreement (the “Share Option Agreement”), West has the right to acquire all the issued and outstanding shares of 1994854 from Boundary by: making aggregate cash payments of $1,325,000 over an 18-month period; issuing an aggregate of 7,361,112 common shares over an 18-month period; and making an aggregate of approximately $2,211,000 in exploration expenditures on the Property by October 3, 2022. West has already made an initial cash payment of $325,000 and made an initial issuance of 1,805,556 shares to Boundary. Under the share option agreement, West has the right to acquire all the issued and outstanding shares of 1994854 from Boundary. 1994854 is party to an underlying property option agreement respecting the Project with Apex dated September 23, 2016, as amended June 26, 2019, which provides 1994854 with the option to acquire an 80% interest in the Project. The amending agreement provides that the Company can complete its acquisition of all of 1994854’s shares from Boundary by making a cash payment of $800,000 to Boundary within five days and by issuing an aggregate of 7,361,112 Shares to Boundary as follows: 1,805,556 Shares already issued to Boundary will be free-trading on April 24, 2021; 1,805,556 Shares will be subject to voluntary escrow until October 24, 2021; 1,805,556 Shares will be subject to voluntary escrow until April 24, 2022; and 1,944,444 Shares will be subject to voluntary escrow until October 24, 2022. In connection with the agreement with Boundary, West paid a finder’s fee in the amount of $80,000 and issued 555,556 Shares as finder’s shares, which Shares will be subject to a fourmonth hold period.

On closing of the acquisition of the Project from Apex and of the 1994854 shares from Boundary, West now holds a 100% interest in and to the Project, subject to the NSR granted to Apex described above and the underlying NSRs described below. There are five underlying NSR royalty options, as described below.

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Janout Option

The original Kena property comprised of 39 two post and fractional claims and 1 twenty-unit metric mineral claim, tenures 232754, 232760-232766, 232794, 233177-233182, 233207, 233261-233262, 233231-233232, 233269, 233292, 233294, 233606-233611, 235331, 235349- 235356, was optioned from Otto Janout (40%), Otakar Janout (40%) and Robert Bourdon (20%) on October14,1999 by Apex (Sultan). Apex was required to make staged payments of $110,000 cash, issue 200,000 shares to the optionors and complete a minimum of $600,000 of exploration work over a four-year period. Apex completed the Kena property acquisition in November 2003. West Mining must make an additional 100,000 share issuance to the optionors upon commencement of commercial production. There is an NSR of 3% for gold and silver and 1.5% for other metals. A perimeter clause states that future production from any West Mining or Optionor acquired tenures that whole or in part lie within 1 kilometre of the original property perimeter are subject to the Royalty Agreement. Half of the NSR can be purchased for $2,000,000 or 7,000 ounces of gold whichever has greater monetary value.

Bourdon Option

In September 2001 tenures 232860, 232861 and 232862 covering the Great Western Crown Grant, Irene and Great Eastern occurrences were optioned from Robert Bourdon for payments totalling $45,000 cash and 200,000 shares. The option was completed in September 2003. Upon receipt of a positive feasibility study West Mining must issue an additional 200,000 shares. There is an NSR of 3% on gold and 1.5% on other metals, of which two thirds can be purchased for $1,000,000.

Denny Option

In April 2002 Sultan purchased the Starlight Claim Group, consisting of 3 crown grants and one mineral claim (L684, L4146, L4155 and tenure 373681) from Jack Denny by making payments of $15,000 and issuing 60,000 common shares over two years. The property is subject to a 1.0% NSR from production of gold, silver and other metals. West Mining has the right to purchase the NSR for $1,000,000 on commencement of commercial production.

Daylight Option

In July 2002, Sultan acquired the Daylight Claim Group, consisting of 8 crown grants (L248, L686, L901, L902, L907, L3251, L14699, L14700) from Janet Wirth, Richard White, Norma Schiller, the Estate of Frances M. Fraser and the Estate of Caroline R. Baillie (the “Optionors”) by making payments of $60,000 and 200,000 common shares over three years. The Option was completed in December 2012. The claims are subject to 3% NSR from the production of gold and silver and 1.5% NSR from the production of other metals. West Mining has the right to purchase 2/3 of the NSR from the vendors for $1,000,000 upon or prior to commercial production and must make a further 200,000 shares upon completion of a positive feasibility study.

Addie Option

In October 2004 the EP, PY and K claims (Record Numbers 350556, 350557 and 366363) were acquired from Lloyd Addie by making payments of $75,000 and issuing 200,000 common shares over three years. The claims are subject to 3.0% NSR royalty from the production of gold and silver, and 1.5% NSR royalty from the production of other metals. West Mining has the right to purchase 2/3 of the NSR for $2,000,000 upon commencement of commercial production.

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4.4 Mineral Tenure

The Kena property consists of 153 mineral claims totalling 8,109ha, excluding overlap. Nine claims in the Kena property expire in 2023, the remainder are good until 2027 or 2028.The claims and tenure for the Kena property are given in Table 4-1. The Daylight property comprises 21 mineral claims, and 11 crown granted claims, presented in Table 4-2 and Table 4-3, respectively. The Daylight Claims are good through 2028. West now holds a 100% recorded interest in the claims and crown grants comprising the Kena Project.

All claim blocks are shown in Figure 4-1. The QP has not independently verified the claims, tenure, and crown grants.

Table 4-1 Kena Property Claims and Tenure

Tenure Number	Claim Name	Map Number	Issue Date	Good To Date	Area(ha)
232760	GOLD MTN.	082F044	1979/May/03	2028/Apr/12	25
232761	GOLD MTN. NO. 2	082F044	1979/May/03	2028/Apr/12	25
232763	GOLD MTN NO. 9 FR.	082F044	1979/May/22	2028/Apr/12	25
232794	MAC #1	082F044	1979/Sep/18	2028/Jun/14	500
233177	COT	082F044	1983/Sep/13	2028/Apr/12	25
233178	ROADSIDE FR	082F044	1983/Sep/13	2028/Apr/12	25
233179	COT FR	082F044	1983/Sep/13	2028/Apr/12	25
233180	MAS FR	082F044	1983/Sep/13	2028/Apr/12	25
233181	TEE FR	082F044	1983/Sep/13	2028/Apr/12	25
233182	FLAT FR	082F044	1983/Sep/13	2028/Apr/12	25
233231	AU 2	082F044	1984/Jun/05	2028/Apr/12	25
233232	AU 4	082F044	1984/Jun/05	2028/Jun/14	25
233261	LINDE #2	082F044	1984/Sep/07	2028/Jun/14	25
233262	LINDE #1	082F044	1984/Sep/07	2028/Apr/12	25
233294	KENA FR.	082F044	1985/Feb/07	2028/Apr/12	25
233606	MAGPIE	082F044	1987/Jul/20	2028/Apr/12	25
233607	ELDORADO	082F044	1987/Jul/20	2028/Apr/12	25
233608	PACTOLUS FRACTION	082F044	1987/Jul/20	2028/Apr/12	25
233609	SHAFT FRACTION	082F044	1987/Jul/20	2028/Apr/12	25
233610	DEER FRACTION	082F044	1987/Jul/20	2028/Apr/12	25
233611	MIDNITE FRACTION	082F044	1987/Jul/20	2028/Apr/12	25
235349	KENA #18	082F044	1974/Nov/05	2028/Apr/12	25
235350	KENA #19	082F044	1974/Nov/05	2028/Apr/12	25
235351	KENA #20	082F044	1974/Nov/05	2028/Apr/12	25
235352	KENA #21	082F044	1974/Nov/05	2028/Apr/12	25
235353	KENA #22	082F044	1974/Nov/05	2028/Apr/12	25
235354	KENA #23	082F044	1974/Nov/05	2028/Apr/12	25
235355	KENA #24	082F044	1974/Nov/05	2028/Apr/12	25

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Tenure Number	Claim Name	Map Number	Issue Date	Good To Date	Area(ha)
235356	KENA #25	082F044	1974/Nov/05	2028/Apr/12	25
350286	SK	082F044	1996/Sep/04	2028/Apr/12	25
350556	EP	082F044	1996/Sep/09	2028/Apr/12	25
350557	PY	082F044	1996/Sep/09	2028/Apr/12	25
362976	SHAFT W1	082F044	1998/May/24	2028/Apr/12	25
362977	SHAFT W2	082F044	1998/May/24	2028/Apr/12	25
372729	CAT #1	082F044	1999/Oct/24	2028/Apr/12	25
372730	CAT #2	082F044	1999/Oct/24	2028/Apr/12	25
372731	CAT #3	082F044	1999/Oct/24	2028/Apr/12	25
372732	CAT #4	082F044	1999/Oct/24	2028/Apr/12	25
373751	CAT 6	082F044	1999/Dec/03	2028/Apr/12	25
373752	CAT 7	082F044	1999/Dec/03	2028/Apr/12	25
373753	CAT 8	082F044	1999/Dec/04	2028/Apr/12	25
373754	CAT 9	082F044	1999/Dec/03	2028/Apr/12	25
373756	CAT 11	082F044	1999/Dec/03	2028/Apr/12	25
373758	CAT 13	082F044	1999/Dec/04	2028/Apr/12	25
373760	CAT 15	082F044	1999/Dec/04	2028/Apr/12	25
373761	CAT 16	082F044	1999/Dec/04	2028/Apr/12	25
373762	CAT 17	082F044	1999/Dec/04	2028/Apr/12	25
373763	CAT 18	082F044	1999/Dec/04	2028/Apr/12	25
373764	CAT 19	082F044	1999/Dec/05	2028/Apr/12	25
373765	CAT 20	082F044	1999/Dec/04	2028/Apr/12	25
373766	CAT 21	082F044	1999/Dec/05	2028/Jun/14	25
373767	CAT 22	082F044	1999/Dec/05	2028/Apr/12	25
374197	CAT 23	082F044	2000/Jan/10	2028/Jun/14	25
374198	CAT 24	082F044	2000/Jan/10	2028/Jun/14	25
374199	CAT 25	082F044	2000/Jan/10	2028/Jun/14	25
374200	CAT 26	082F044	2000/Jan/10	2028/Jun/14	25
374201	CAT 27	082F044	2000/Jan/10	2028/Jun/14	25
374202	CAT 28	082F044	2000/Jan/10	2028/Jun/14	25
374203	CAT 29	082F044	2000/Jan/10	2028/Jun/14	25
374204	CAT 30	082F044	2000/Jan/10	2028/Jun/14	25
374205	CAT 31	082F034	2000/Jan/10	2027/Apr/12	25
374206	CAT 32	082F034	2000/Jan/10	2027/Apr/12	25
374207	CAT 33	082F044	2000/Jan/11	2028/Jun/14	25
374208	CAT 34	082F044	2000/Jan/11	2028/Jun/14	25
374209	CAT 35	082F044	2000/Jan/11	2028/Jun/14	25
374210	CAT 36	082F044	2000/Jan/11	2028/Jun/14	25
374211	STAR 1	082F044	2000/Jan/12	2028/Jun/14	25
374212	STAR 2	082F044	2000/Jan/12	2028/Jun/14	25

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Apex Resources Inc Kena Project

Tenure Number	Claim Name	Map Number	Issue Date	Good To Date	Area(ha)
378493	NOMAN	082F044	2000/Jul/01	2028/Jun/14	500
379797	SAKE	082F044	2000/Aug/15	2028/Jun/14	25
380707	CAT 40	082F034	2000/Sep/21	2027/Apr/12	25
380708	CAT 41	082F034	2000/Sep/21	2027/Apr/12	25
380709	CAT 42	082F034	2000/Sep/21	2027/Apr/12	25
380710	CAT 43	082F034	2000/Sep/21	2027/Apr/12	25
380711	CAT 44	082F034	2000/Sep/21	2027/Apr/12	25
380712	CAT 45	082F034	2000/Sep/21	2027/Apr/12	25
382325	SK 1	082F044	2000/Nov/12	2027/Apr/12	500
382326	SK 2	082F044	2000/Nov/11	2027/Apr/12	25
382327	SK 3	082F034	2000/Nov/12	2027/Apr/12	25
382328	SK 4	082F034	2000/Nov/12	2027/Apr/12	25
382329	SK 5	082F034	2000/Nov/12	2027/Apr/12	25
382330	SK 6	082F034	2000/Nov/12	2027/Apr/12	25
382801	GC 1	082F034	2000/Nov/20	2027/Apr/12	25
382802	GC 2	082F034	2000/Nov/20	2027/Apr/12	25
382803	GC 3	082F034	2000/Nov/20	2027/Apr/12	25
382804	GC 4	082F034	2000/Nov/20	2027/Apr/12	25
382805	SK 7	082F034	2000/Nov/19	2027/Apr/12	25
382806	SK 8	082F034	2000/Nov/19	2027/Apr/12	25
382807	SK 9	082F034	2000/Nov/19	2027/Apr/12	25
382809	SK 11	082F034	2000/Nov/19	2027/Apr/12	25
382810	SK 12	082F034	2000/Nov/19	2027/Apr/12	25
382811	SK 13	082F034	2000/Nov/19	2027/Apr/12	25
382812	SK 14	082F034	2000/Nov/19	2027/Apr/12	25
382813	SK 15	082F034	2000/Nov/19	2027/Apr/12	25
382814	SK 16	082F034	2000/Nov/19	2027/Apr/12	25
382815	SK 17	082F034	2000/Nov/19	2027/Apr/12	25
382816	SK 18	082F034	2000/Nov/19	2027/Apr/12	25
382819	SK 10	082F034	2000/Nov/19	2027/Apr/12	25
384262	SK 19	082F034	2001/Feb/25	2027/Apr/12	25
384263	SK 20	082F034	2001/Feb/25	2027/Apr/12	25
384264	SK 21	082F034	2001/Feb/25	2027/Apr/12	25
384265	SK 22	082F034	2001/Feb/25	2027/Apr/12	25
384266	SK 23	082F034	2001/Feb/25	2027/Apr/12	25
384267	SK 24	082F034	2001/Feb/25	2027/Apr/12	25
384268	SK 25	082F034	2001/Feb/26	2027/Apr/12	25
384269	SK 26	082F034	2001/Feb/26	2027/Apr/12	25
384270	SK 27	082F034	2001/Feb/26	2027/Apr/12	25
384271	SK 28	082F034	2001/Feb/26	2027/Apr/12	25

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Tenure Number	Claim Name	Map Number	Issue Date	Good To Date	Area(ha)
387621	GC #5	082F034	2001/Jun/30	2023/Feb/28	500
387622	GC #6	082F034	2001/Jun/30	2023/Feb/28	450
387623	GC #7	082F034	2001/Jun/30	2027/Apr/12	25
387624	GC #8	082F034	2001/Jun/30	2027/Apr/12	25
387625	GC #9	082F034	2001/Jun/30	2027/Apr/12	25
387634	GC #10	082F034	2001/Jun/30	2027/Apr/12	25
387635	GC #11	082F034	2001/Jun/30	2027/Apr/12	25
387636	GC #12	082F034	2001/Jun/18	2027/Apr/12	25
387637	GC #13	082F034	2001/Jun/18	2027/Apr/12	25
387638	GC #14	082F034	2001/Jun/18	2027/Apr/12	25
387639	GC #15	082F034	2001/Jun/19	2027/Apr/12	25
387640	GC #16	082F034	2001/Jun/19	2027/Apr/12	25
387641	GC #17	082F034	2001/Jun/19	2027/Apr/12	25
387642	JUNE #1	082F034	2001/Jun/20	2023/Feb/28	500
387643	JUNE #2	082F034	2001/Jun/18	2027/Apr/12	25
387644	JUNE #3	082F034	2001/Jun/18	2027/Apr/12	25
387645	JUNE #4	082F034	2001/Jun/18	2027/Apr/12	25
387646	JUNE #5	082F034	2001/Jun/18	2027/Apr/12	25
387647	JUNE #6	082F034	2001/Jun/20	2027/Apr/12	25
387648	JUNE #7	082F034	2001/Jun/20	2027/Apr/12	25
387649	JUNE #8	082F034	2001/Jun/20	2027/Apr/12	25
387650	JUNE #9	082F034	2001/Jun/20	2027/Apr/12	25
389877	Gold Mountain	082F044	2001/Sep/22	2028/Apr/12	500
389878	TAMARAC	082F035	2001/Sep/23	2023/Apr/12	225
389879	TAM	082F034	2001/Sep/23	2027/Apr/12	25
391009	SK 29	082F034	2001/Nov/25	2027/Apr/12	25
391010	SK 30	082F034	2001/Nov/25	2027/Apr/12	25
391011	SK 31	082F034	2001/Nov/25	2027/Apr/12	25
391012	SK 32	082F034	2001/Nov/25	2027/Apr/12	25
392532	G.A. #8	082F034	2002/Apr/05	2027/Apr/12	25
392533	G.A. #7	082F034	2002/Apr/05	2027/Apr/12	25
392534	GA #6	082F034	2002/Apr/05	2027/Apr/12	25
392535	GA #5	082F034	2002/Apr/05	2027/Apr/12	25
392536	GA #4	082F034	2002/Apr/05	2027/Apr/12	25
392537	GA #3	082F034	2002/Apr/05	2027/Apr/12	25
392538	GA #2	082F044	2002/Apr/05	2028/Jun/14	25
392539	GA #1	082F044	2002/Apr/05	2028/Jun/14	25
550210	FRANK&DON	082F	2007/Jan/25	2023/Apr/12	252.1938
550275	F&D FR.	082F	2007/Jan/25	2027/Apr/12	21.0157
652203	NEW SK	082F	2009/Oct/14	2023/Apr/12	84.0774

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Tenure Number	Claim Name	Map Number	Issue Date	Good To Date	Area(ha)
834084	HIGHWAY 1	082F	2010/Sep/22	2023/Apr/12	105.0003
834085	HIGHWAY 2	082F	2010/Sep/22	2027/Apr/12	84.0429
834123	HIGHWAY 3	082F	2010/Sep/23	2027/Apr/12	21.0123
834124	HIGHWAY 4	082F	2010/Sep/23	2023/Apr/12	126.0954
834158	CREEK 1	082F	2010/Sep/23	2023/Apr/12	315.4215

Table 4-2 Daylight Property Claims and Tenure

Tenure Number	Claim Name	Map Number	Issue Date	Good To Date	Area (ha)
232860	GREAT WESTERN	082F044	1980/Feb/19	2028/Apr/12	25
232861	IRENE	082F044	1980/Feb/19	2028/Apr/12	25
232862	GREAT EASTERN	082F044	1980/Feb/19	2028/Apr/12	25
373681	GRAND	082F044	1999/Nov/26	2028/Apr/12	25
373750	CAT 5	082F044	1999/Dec/03	2028/Apr/12	25
373755	CAT 10	082F044	1999/Dec/03	2028/Apr/12	25
373757	CAT 12	082F044	1999/Dec/03	2028/Apr/12	25
373759	CAT 14	082F044	1999/Dec/04	2028/Apr/12	25
380091	CAT 37	082F044	2000/Sep/03	2028/Apr/12	25
380092	CAT 38	082F044	2000/Sep/03	2028/Apr/12	25
380093	CAT 39	082F044	2000/Sep/03	2028/Apr/12	25
382323	CAT 46	082F044	2000/Nov/10	2028/Apr/12	25
382324	CAT 47	082F044	2000/Nov/10	2028/Apr/12	25
390584	GM 1	082F044	2001/Oct/26	2028/Apr/12	25
390585	GM 2	082F044	2001/Oct/26	2028/Apr/12	25
392165	SAND 1	082F044	2002/Mar/10	2028/Jun/14	25
392166	SAND 2	082F044	2002/Mar/10	2028/Jun/14	25
392167	SAND 3	082F044	2002/Mar/10	2028/Jun/14	25
392168	SAND 4	082F044	2002/Mar/10	2028/Jun/14	25
392169	SAND 5	082F044	2002/Mar/10	2028/Jun/14	25
392170	SAND 6	082F044	2002/Mar/10	2028/Jun/14	25

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Table 4-3

Daylight Property Crown Grants

CROWN	GRANTS	Map Number
L684	STARLIGHT	082F044
L4146	BLACKWITCH	082F044
L4155	GOLD BELL	082F044
L248	VICTORIA	082F044
L686	JESSIE	082F044
L901	BID	082F044
L902	JMB	082F044
L907	DAYLIGHT	082F044
L14699	GOLD KING FR	082F044
L3251	BERLIN	082F044
L14700	MILLSITE FR	082F044

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Apex Resources Inc Kena Project

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Accessibility, Climate, Local Resources, Infrastructure and Physiography

5.1 Physiography

The properties are in an area of rugged terrain. Topography on the properties is steep with elevations ranging from 895m at Cottonwood Lake to 1,795m on the southwest portion of the claim area. Outcrop is somewhat limited - generally confined to creek gullies and road cuts, with more prevalent outcrops on steeper slopes. The Gold Mountain and Kena Gold Zones lie at an elevation of about 1,400m, along a relatively flat bench area above the steep topography leading to the Cottonwood valley.

Several portions of the property have been logged; the remainder is covered with first and second growth forest consisting of balsam, fir, spruce, hemlock, cedar, with occasional white pine and larch. Thick growths of alder and devil’s club occur in creek gullies.

5.2 Accessibility

Highway 6 passes along the eastern margin of the claim block, and then bends southwest to cross the southern part of the property. The northern part of the Kena Project, including the Gold Mountain, Kena Gold, Daylight and South Gold Zones, is accessed by road seven kilometres south from Nelson, turning west off Highway 6, then travelling west and south using the Giveout and Gold Creek Forest Service Roads. The southern part of the property is accessed from further south along Highway 6, travelling east and south on the Clearwater Creek Forest Service Road. The Forest Service Roads are well maintained and easily accessible via pick-up truck. Several logging and 4x4 roads run through the claims, providing access to much of the property.

5.3 Climate

The climate of the Kena and Daylight properties is typical of the southern interior of British Columbia, with freezing temperatures from 0 degrees Celsius ([] C) to –20[] C from November to March (averaging –5[] C), and mild temperatures ranging from 10[] C to 30[] C from April to October (averaging 15.7[] C). Precipitation averages 790 millimetres per year, with a substantial portion in the form of snow, which averages 225 centimetres per year. It is possible to operate on the property all year round; however, winter conditions create challenges. A typical exploration season spans June through October.

5.4 Local Resources and Infrastructure

The Highway 6 corridor carries a powerline and a decommissioned railbed. Teck Resources Ltd.’s (Teck) Trail Operations facility, which includes a lead and zinc smelter and refinery, and the Waneta power dam, is located about 75 kilometres southwest of the property via paved highway. Crew lodgings are readily available in nearby Nelson or Salmo. A skilled labour force for mining and exploration is available in Nelson, Salmo, Trail, and Castlegar. Trail, Nelson, and Castlegar are major supply and service centres for resource industries. Water is readily available from the Salmo River below the claims. As illustrated in Figure 4-1 the Kena and Daylight claims is extensive allowing sufficient areal extent for possible future mining operations, including potential tailings storage areas, potential waste disposal areas, heap leach pad areas, and potential processing plant sites.

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History

6.1 Kena Property

The area of the Kena Property was first described by G.M. Dawson in the Geological Survey of Canada Summary Report for 1888-1889. Dawson stated that gold mineralization is located within a “…quantity of pyritized material which…appears to be practically unlimited…” in size.

No further information on exploration appears in either the Geological Survey of Canada records or the Provincial Government records within the Ministry of Mines, thus little is known about exploration on the claim area prior to 1973. Post 1973 exploration, however, has identified numerous old prospect pits and trenches, as well as several old adits indicating periods of limited exploration activity in the early part of the century.

Prospector Otto Janout staked the original Kena claims in 1973. Since then the property has been optioned and worked by various companies. Prior to Apex obtaining the Kena claims in 1999, the property was divided into the Kena Property, located south of Gold Creek and the Shaft Property (now including Gold Mountain Zone) located to the north. After optioning the Kena claims from Janout, Apex acquired additional claims by staking to the south of the Kena Property, which includes the historic Euphrates and Gold Cup Mines. To the west, Apex also optioned several claims comprising the contiguous Daylight Property. Prior to July 18, 2016, Apex operated under the name of Sultan Minerals.

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Historic Kena Property

The historically referred to “Kena” is the portion of the Kena Property located south of Gold Creek and encompasses the Kena Gold, South Gold and Kena Copper Zones. Exploration work completed on this property since 1973 is summarized below.

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1974 Ducanex Resources Ltd.

The company collected soil samples and drilled four percussion holes in the Kena Gold Zone. Chip sampling of the Main Trench in 1973 yielded 2.38 g/t gold over 9.85 metres. The soil sample results showed high copper and gold values, ranging up to 1,100 ppm copper and 4,600 ppb gold, with background gold values around 350 ppb. The company drilled four percussion holes aggregating 250 metres on the gold prospect. The results of the drilling suggested the presence of a mineralized zone from 6 to 12 metres thick of ranging from 1.36 to 1.70 g/t gold. The zone strikes at 290[o] , dips 60[o] to the southwest, and has a projected strike length of 230 metres. Prospecting also resulted in the discovery of a large zone of copper mineralization in the southeastern section of the claims.

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1975 Lacanex Mining Company Ltd.

A program of geological mapping and geochemical sampling was carried out over wide spaced (120 to 250 metre) grid lines in the southern portion of the claim block resulted in identifying a series of large linear copper geochemical anomalies which follow the regional foliation. 27 chip samples were taken at 3 metre intervals along the entire 82 metres of an old adit located within the Kena Copper Zone, with the samples

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averaging 0.16% copper over the entire length. This adit was probably driven to intersect an outcropping 65 centimetres wide quartz vein at depth. A grab sample from the quartz vein assayed 1.1% copper and 2.6 g/t gold.

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1976-77 Quintana Minerals Corporation

The program consisted of geological and geochemical surveys based on the hypothesis that visible sulphide mineralization within the Kena Copper Zone represented the upward extent of a porphyry copper sulphide system. In 1977, the Company carried out a wide spaced IP survey along lines 240 metres apart. The work resulted in a chargeability anomaly parallel to the strike of the volcanics and approximately coincident with the copper geochemical anomaly. Lithogeochemical sampling ranged as high as 21 metres of 0.53% copper along an outcrop of sericite schist.

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1981-82 Kerr Addison Mines Ltd.

Kerr Addison’s exploration program consisted of both geological and geochemical surveys conducted over the entire property followed by six diamond drillholes. Three drillholes aggregating 528.5 metres were completed on the Kena Gold Zone. The best intercept from this work was 2.18 g/t gold over 15 metres in hole 81-KK-2. Three wide spaced holes aggregating 635.2 metres were completed in the Kena Copper Zone. The top 51 metres of drillhole 88-KK-4 assayed 0.27% copper. Samples representing 63 metres of the underlying 85 metres average 0.16% copper. Sampled intervals in drillhole 81-KK-6, near the previously sampled copper adit, yielded 0.18% copper over a 45-metre section. Gold content in these copper zone holes ranged up to 0.3 g/t locally.

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1985 Lacana Mining Corporation

Lacana Mining Corporation carried out a program of backhoe trenching and drilled 13 holes aggregating 1,315.8 metres. Twelve of the holes were in the Kena Gold Zone with one hole, LK85-12, drilled approximately 175 metres south of the Kerr Addison hole 81-KK-4, at the northern end of the Kena Copper Zone.

The best drill intercept, located beneath the Kena Gold Zone Main Trench, yielded 6.05 g/t gold over 4.8 metres in hole LK85-7. While a step-out hole LK85-18 drilled about 100 metres southeast of LK85-7, yielded 1.86 metres grading 6.32 g/t gold. Other work carried out in this period included an airborne geophysical survey that measured magnetics, resistivity, electromagnetics, and VLF-EM.

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1986 Lacana Mining Corporation

Lacana’s program consisted of putting in an extensive grid covering an area about 1.70km by 0.70km northwest of the Kena Copper Zone. The company carried out geological and geochemical surveys as well as magnetic and VLF-EM surveys. The soil samples were analysed for gold, with select lines analyzed for 30 elements by ICP. The company drilled 22 holes around the Kena Gold Zone and its postulated extension. Hole LK86-20 yielded 9.03 metres grading 4.76 g/t gold. Numerous intersections of auriferous and barren silicified and pyritized fracture zones were identified in the drilling. Many of these zones tend to be aligned along a broad northwest trend. Most of the individual higher-grade zones were narrow with sub-economic grade, and the general conclusion was that their spotty and discontinuous characteristics made them difficult targets to chase to depth.

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Apex Resources Inc Kena Project

It is important to note that Lacana’s program was designed to locate relatively narrow but higher-grade gold intercepts, where later infill core sampling by Apex indicates that, in fact, broad widths of lower grade gold mineralization exist at the Kena Gold Zone.

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1987 Tournigan Mining Exploration Ltd.

Tournigan drilled six holes aggregating 918.93 metres. The core from this program was selectively split with only 89 samples aggregating 134.61 metres analyzed for gold, silver, and copper. Drillhole TK-87-42 was collared between previous holes KK-81-4 and LK85-12, within the Kena Copper Zone, to test anomalous gold and copper soil geochemistry and where there appeared to be a gap in previous drill coverage. Hole TK-87-42 was selectively sampled with 25 samples taken of which the best copper intersection was 0.175% copper over 9.72 metres.

Drillhole TK-87-43 was drilled to test Lacana’s geological interpretation of section 48+50N. Five intervals of 1.5 metre widths grading better than 1 g/t gold were returned.

The last four holes TK-87-44 to TK-87-47 were located in order to intersect the possible southern extension of a mineralized fracture zone approximately 500 metres north of the property, known as the Shaft showing. However, no structure or mineralized zone was interpreted as the southern extension of the Shaft mineralization. This conclusion was based on incomplete diamond drill core sampling. It is important to note that Apex’s 1999 infill core sampling program obtained results up to 50.8 g/t gold over a 1.0 metre interval in hole TK-87-46, within a 60-metre segment of drill core that had never been sampled.

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1989 Golden Lake Resources Ltd.

A preliminary work program was undertaken to locate and tie in claim posts and several old grids over which much of the previous work had been completed. The results of this work were used to compile technical data with the objective of formulating a detailed exploration plan for the property. Noramco Mining Corporation optioned the property from Golden Lake in June 1990 and assumed the option agreement obligations to the prospector vendors.

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1990-91 Noramco Mining Corporation

The exploration program from July to September 1990 consisted of geological mapping, soil sampling and geophysical surveys. Work was restricted to the Kena Copper Zone in the southern portion of the property and to an area encompassing Gold Creek north of the old Lacana grid. In October of 1990, four NQ diamond drillholes totalling 1,055 metres were completed on the property. Two of the holes were in the Gold Creek area (at the very south edge of what is now known as the Gold Mountain Zone) and the other two were within the Kena Copper Zone. One of the holes into the south end of the Gold Mountain Zone returned 0.4 g/t gold over its entire 235.5 metre length, including 24 metres of 1.1 g/t gold and 9 metres of 2.3 g/t gold.

In 1991, additional geochemical, geological, and geophysical surveys plus diamond drilling were carried out on the property. Three diamond drillholes aggregating 1,074 metres were completed. Holes NK91-1 and 2 were drilled in the south and north ends of the Kena Copper Zone respectively, and NK91-3 was drilled into the Kena Gold Zone. The most significant results of this final historic exploration program were returned from NK91-3, which was the deepest hole ever, drilled into the Kena Gold Zone. This hole

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returned values at depth (from 212 to 352 metres) of >0.5 g/t gold over 140 metres width, including 10 metres of >1.5 g/t gold. Earlier diamond drillholes in the Kena Gold Zone averaged 100 to 150 metres depth.

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Shaft Claims

From 1984 to 1992, the “Shaft claims” were worked as a separate property from the “Kena Property”. The “Shaft claims” encompass the portion of the Kena property located north of Gold Creek and contain the Shaft, Cat and Dighem showings.

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1984 Lacana Mining Corporation

Lacana completed geochemical surveys, trenching and sampling and an airborne magneticelectromagnetic survey.

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1987-88 South Pacific Gold

South Pacific Gold carried out a program of line cutting, geological mapping, geochemical soil sampling, magnetic and induced polarization surveys, and six NQ diamond drillholes aggregating 762 metres. Drilling was confined to a copper-gold occurrence referred to as the Shaft showing. Historic drilling results include 5.95 g/t gold over 1.99 metres.

1989 Golden News Resources Inc./Noramco Explorations

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Golden News Resources Inc. optioned the property in 1989. Noramco Explorations, on behalf of Golden News Resources, completed a program including line cutting, magnetic–VLF-EM surveying, induced polarization geophysical surveying, geochemical sampling, and detailed geological mapping. Results of this work, combined with those of previous exploration companies indicated three drill targets were present; the Dighem, Princess and Silver King Porphyry Contact (now called Gold Mountain) Zones.

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1990 Noramco Mining Corporation

Noramco optioned the property from Golden News in June 1990 and drilled four holes across the Dighem geochemical and geophysical anomaly. No results of any significance were obtained from this zone. Two additional holes were drilled, one at the Princess showing and one to the west of the Dighem anomaly over a second geochemical and geophysical target. The single hole at the Princess showing returned a best assay result of 11.3 g/t gold and 0.66% copper over 1.5 metres.

After 1991, no further work was done on either the Kena or Shaft claims until 1999 when Apex optioned the now amalgamated Kena Property.

6.2 Daylight Property

After the Kena property option, Apex acquired additional contiguous claims and crown granted mineral claims to the northwest of the original Kena property on what is now referred to as the Daylight property. The Daylight property hosts a few historic small-scale “mines” as referenced in BC Minfile reports. These include Daylight-Berlin, Starlight, Victoria-Jessie, Irene and Great Eastern.

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6.3 Southern Extension

Apex also acquired, by staking, claims located to the south of the optioned Kena property. These claims contain three historic BC Minfile occurrences, including two historic past producers: the Euphrates and Gold Cup Mines.

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Geological Setting and Mineralization

7.1 Regional Geology

The Kena Project is situated within the Elise Formation of the Rossland Group. The Rossland Group, within the southern Omineca Crystalline Belt, is an uplifted zone of variably metamorphosed and deformed Proterozoic to Tertiary rocks that straddles the boundary between accreted terranes and ancestral North America. The belt includes a series of structural culminations, typically cored by Paleoproterozoic crystalline rocks, and flanked in the intervening depressions by rocks like those in the Foreland Belt to the east. Accreted rocks of the Slide Mountain and Quesnellia terranes structurally overlie these rocks.

The Omineca Crystalline Belt comprises an imbricated succession of thrust sheets that were transported eastward in Mesozoic time. This tectonism was accompanied by intrusion of granitic bodies and localization of a variety of structurally controlled vein deposits. In early Tertiary time, regional extension resulted in local uplift of core complexes as cover rocks were displaced along low angle normal faults. This extension was associated with widespread mafic volcanism, intrusion of alkalic rocks and, locally, vein and shear hosted mineralization.

The Rossland Group is the most eastern belt of volcanic rocks within Quesnellia, a terrane that comprises dominantly arc volcanics and associated sediments that were accreted to North America in Middle Jurassic time. These rocks tectonically overlie pericratonic rocks of the Kootenay Terrane or miogeoclinal Proterozoic to lower Paleozoic rocks that were deposited on the western ancestral margin of North America. The tectonic boundary between Quesnellia and pericratonic rocks is locally marked by mafic volcanic rocks and associated ultramafics of the Slide Mountain Terrane, which is interpreted to record deposition in a marginal basin or back-arc setting that separated Quesnellia from North America. In the Rossland-Nelson area, overlap assemblages - rocks deposited after collision of accreted rocks with North America – include the Cretaceous Sophie Mountain Formation and Eocene Marron Formation.

7.2 Local and Property Geology

Detailed geology of in the Kena area is documented in BCGS Bulletin 102, titled “Early Jurassic Rossland Group, Southern British Columbia – Part I Stratigraphy and Tectonics” by T. Hoy and K. Dunne (1997). The following descriptions of the Hwy 6 portion of the Elise Formation volcanics, and the Silver King intrusive bodies are extracted directly from the publication. Highway 6 passes through the property and the lithologies described host the Kena mineralization.

7.3 Elise Formation

A complete section of the Elise Formation (Elise) is exposed in the east limb of the Hall Creek syncline. It has been subdivided into a lower and upper division. The lower Elise lies with apparent conformity on sedimentary rocks of the Ymir Group; a few argillite beds persist through the lower part of the lower Elise. It is a sequence of dominantly mafic flows and flow breccias, minor lahars and tuffs up to one kilometre thick.

A coarse-grained augite porphyry flow breccia is the dominant lithology of the lower Elise. Clasts and matrix are essentially augite porphyry with euhedral to subhedral augite or augite pseudomorphs up to

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one centimetre in diameter in a finer grained matrix of secondary plagioclase, biotite, chlorite, epidote, and carbonate. Massive augite porphyry flows, with little evidence of brecciation, are not common.

The upper Elise is a sequence of mafic to intermediate flows, tuffs and minor epiclastic deposits up to 2,500 metres thick. A number of cyclical sequences of pyroclastic rocks that typically grade upward from lapilli tuff to crystal tuff or fine tuff are common. Augite porphyry flows and flow breccias are a minor constituent.

The dominant lithology of the upper Elise is a plagioclase-augite lapilli tuff of andesitic to shoshonitic composition. Clasts are generally darker than their matrix due to the preferential alteration of the fine-grained matrix to calcite, epidote, and secondary plagioclase.

Crystal tuffs are commonly a lateral or vertical facies of the lapilli tuffs and are similar in composition. They are characterized by up to 20% plagioclase and typically only a few percent augite. The crystal tuffs are generally massive; only rarely is layering noted. However, a penetrative foliation, conspicuous in most outcrops, may mask many primary features.

Fine mafic tuff occurs as dark green, fine-grained layers commonly associated with augite porphyry units. Several percent broken, commonly sausseritized plagioclase phenocrysts, less than one millimetre in diameter, and rare quartz crystals are the only primary textures preserved in the tuff. A penetrative foliation is defined by aligned biotite.

7.4 Silver King Intrusions

A number of generally highly deformed feldspar porphyries, referred to as the Silver King intrusions occur within the Elise Formation on the Kena Property. They have been dated as Aalenian to Toarcian and are interpreted to be collisional granitoids. Many are associated with copper, gold, and silver mineralization.

The main Silver King intrusive body can be traced southeast from Giveout Creek. Several smaller lenses border this intrusion and others occur on the western slopes of Mount Elise. Outcrops of Silver King intrusions are typically cream-coloured and form resistant ridges. Contacts with Rossland Group rocks are either sharp and discordant or intensely sheared. The Silver King pluton is sheared along its margins. Commonly, smaller lenses form sericite phyllites that resemble foliated felsic volcanic rocks. These contact relationships and the foliated to massive nature suggest that the Silver King intrusions are a pre to synkinematic suite.

The Silver King plutonic rocks are porphyritic, characterized by 30 to 60% euhedral to subhedral plagioclase phenocrysts, 5-10 millimetres in size in a fine-grained greenish grey groundmass. Quartz content ranges from 1 to 2%; grains are commonly resorbed which may indicate a high-level of intrusion. Generally, primary mafic minerals are not preserved although acicular secondary hornblende needles are locally observed. Accessory sphene and ilmenite are common; apatite is rare.

The Silver King intrusion has been strongly altered and sheared. Plagioclase twinning is commonly obscured by intense saussuritization, and the inner zones of the phenocrysts are replaced by clusters of sericite needles. Mafic minerals are almost totally replaced by chlorite and calcite. The groundmass

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comprises abundant secondary albite, epidote, carbonate and often 10 to 50% interlocking aggregates of quartz grains and sericite mats.

Based on major element chemistry, Silver King intrusive samples are dominantly quartz monzodiorites and granodiorites. Most Silver King samples plot in the calc-alkaline field on a total alkali-silica plot, in contrast with high potassium or alkaline character of many synvolcanic Early Jurassic plutons.

7.5 STRUCTURE, ALTERATION AND MINERALIZATION

The structure, alteration, and mineralization of the Gold Mountain, Kena, South Gold, Kena Copper, Daylight and Shaft and Cat Zones are discussed separately below.

7.6 Gold Mountain Zone (“GMZ”)

Several outcroppings of Silver King intrusive occur on the property. This unit is especially prominent along the west side of the claim area where it forms a topographically significant ridge. In the Gold Mountain Zone, the eastern margin of this large body is in contact with Elise volcanics on a plateau area at an elevation of about 1400 metres; outcrop is rare.

In the GMZ, the Silver King unit is a coarse to medium-grained plagioclase-hornblende porphyry. It is locally siliceous, and in places weakly to strongly flooded with secondary potassium feldspar. Plagioclase is weak to moderately sericitized, and hornblende is weak to locally highly chloritized. Epidote alteration is evident in many areas. The porphyry is locally mineralized with 1% to 5% disseminated pyrite, traces of molybdenite, chalcopyrite, malachite, and stringers and disseminations of magnetite and specular hematite.

Gold mineralization occurs predominantly as finely disseminated free gold grains within both the intrusive and volcanic rocks in the vicinity of their eastern contact. The gold grains often occur adjacent to pyrite grains or within narrow quartz veinlets, both of which show deformational characteristics, indicating that gold emplacement is either pre or syn-kinematic. Thin sections examined during petrographic studies show that very minor amounts of gold also occur as tiny inclusions in pyrite grains, indicating an older gold phase (Wells, R.C., 2001). As well, minor amounts of gold can be seen along narrow fractures, indicating a younger gold phase or late remobilization of the earlier gold.

After discovery of the unique style of gold mineralization by Apex in the Gold Mountain Zone in 2000, detailed studies on structure and alteration related to the gold mineralization were undertaken.

Lithologies in the vicinity of the Gold Mountain zone are affected by 120-160[o ] striking azimuth, moderate to steep southwest dipping phyllitic penetrative foliation (S1) that is defined by the platy alignment of phyllosilicate minerals, and the flattening of clasts and phenocrysts (Rhys, 2001).

In 2003, Dr. Trygve Hoy mapped and studied much of the Kena Property, and concluded:

Gold appears to be mainly concentrated in the northern part of the Silver King intrusion, proximal to the Elise Formation contact (Hoy, 2003) and is likely related to a gold porphyry system, with associated potassic (K-feldspar) and variable magnetite content (Hoy, 2003).

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Alteration assemblages found throughout the Silver King intrusive have important relationships to the gold mineralization. Conclusions from an alteration mapping study, conducted by Kathryn Dunne, P.Geo., 2001, are as follows:

Alteration assemblages include K-silicate: magnetite-K-spar-biotite and sericitic: sericite-quartz-pyrite +/gypsum), quartz veinlet stockworks and low silver content (<3 ppm) are consistent with a porphyry gold depositional setting (Sillitoe, 1995) (Dunne, 2003). The distribution of magnetite, magnetite + pyrite and pyrite dominated zones may reflect depth of alteration with magnetite dominant possibly at deeper levels (Dunne, 2003). The sericitic alteration hosts the majority of Au mineralization. However, Sillitoe (1997) has noted that the presence or absence of sericite overprint does not seem to exert any control on gold content in porphyry gold deposits.

7.7 Kena Gold Zone

The Kena Gold zone occurs in disrupted Elise Formation volcanics along the flank of the Silver King stock. It includes several dykes and sills of monzodiorites, andesite porphyry, and Silver King porphyry. Gold mineralization occurs in silicic, pyritic crackle breccia that is related to sub-concordant dioritic intrusions.

Broad bands of potassic alteration and silicification occur at the margins of the intrusions, and the best gold mineralization occurs where silicification intersects strong fracture systems, the strongest of which trend due east and dip steeply south. These are associated with gold concentrations of less than 3 g/t. Base metals are not common. Chalcopyrite, sphalerite, and galena are disseminated in quartz veins, or occur as massive sulphide veinlets adjacent to dioritic rocks.

Not all the silicified zones contain gold. Some quartz occurs as vuggy epithermal-style veins.

7.8 South Gold Zone

A 5-kilometre-long magnetic feature, which is believed to be an important regional control on gold mineralization, trends from the Gold Mountain Zone, through the Kena Gold Zone and into the South Gold Zone. Prior drilling in the South Gold Zone, within Elise Formation volcanics yielded gold results like those in the other gold zones, with occasional high-grade pyritic shoots occurring within lower-grade zones of silica-potassium alteration.

7.9 Kena Copper Zone

The Kena Copper zone demonstrates alkalic copper-gold porphyry-style mineralization that is associated with a probable monzodiorite complex. Chalcopyrite and pyrite occur as disseminations, as fracture fillings, and as quartz veinlets in the intrusive rocks. Disseminated and fracture-filled pyrite occurs in the tuffaceous units of the Elise Fm. Malachite is common.

The area is marked by sericitic and limonitic shear zones that are parallel to foliation, and by propylitically altered zones with moderate to intense fracturing. Local occurrences of magnetic and secondary biotite are indicative of a broader zone of potassic alteration centred on the monzodiorite complex. Quartz veins and stockworks, some of which contain pyrite and chalcopyrite, cross and follow foliation, and may suggest multiple periods of emplacement.

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7.10 Shaft and Cat Zones

Widespread mineralization in the Shaft and Cat zones consists of chalcopyrite, pyrite, and magnetite as disseminations and fracture fill in brecciated, altered andesite and sub-volcanic dioritic sills, which occur as possible breccia pipes along a northwest-trending shear zone adjacent to the Silver King-Elise Formation contact.

These zones may record gold-copper mineralization that is unrelated to the Silver King porphyry system. Gold appears early, is associated with chalcopyrite and magnetite, and is concentrated in a fractured, diorite intrusive phase of the Elise Formation (Hoy, 2003).

7.11 Daylight Zone

The Daylight property lies on the western flank of the main Silver King intrusion and within intensely altered and sheared Elise Formation volcanic rocks. The geology in this area has been subjected to a series of tectonic events resulting in regional folding and shearing, with the most prominent fold in this area being the Hall Creek Syncline. The penetrative foliation of the Elise formation parallels the axial plane of the syncline with the dominant foliation being steeply dipping with an average trend of 120-140°.

Northwest of the closure of the Hall Formation, at deeper structural levels the core of the syncline forms a zone of intense shearing more than a kilometre in width. This shear zone is referred to as the Silver King Shear and runs through the Elise Formation as well as the intrusive rocks of the Silver King porphyry stocks. The Silver King Shear is host to several deposits including the Silver King Mine adjacent to the Daylight property.

The historical Great Western and Great Eastern mines on the property are underlain by the Silver King Porphyry near its southwestern contact margin with the Elise volcanics. Mineralization is in the form of sheeted quartz vein systems with accessory pyrite-chalcopyrite and rarely galena or sphalerite (Brown, 2018; AR37536).

The historic Starlight, Victoria and Daylight mines are aligned along a single, mostly continuous quartz vein traceable through the Daylight property area for at least 1300 metres. The vein is hosted almost entirely within the Elise volcanics, although in places it appears to share its structure with dykes of Silver King intrusive.

Mineralization typically includes pyrite or rarely pyrrhotite, with minor chalcopyrite, and occasional coarse grains of galena or sphalerite. Alteration of the immediate host rocks typically includes chlorite-silicasericite+/-limonite-goethite and rare epidote. Mineralization is primarily conformable along a predominant strike of 130-140[o] , with dips at the Starlight-Victoria 55-70[o] to the northeast. Dips appear to shallow slightly to around 45[o] degrees near the Daylight mine. A second mineralized fracture set is apparent on approximately 306/77. It is suggested here that the discontinuous nature of the DaylightStarlight vein system may be due to strong linear ore-shoot control. A calculated intersection lineation of the subsidiary veins with the conformable vein set suggests a hypothetical ore-shoot plunge of 31[o] to azimuth 314[o] . The Daylight/Starlight vein system can produce bonanza grade intercepts, but along geometrically or volumetrically limited dimensions.

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Of the several high-strain zones that are commonly mineralized, the eastern contact between the Silver King porphyry and Elise Formation volcanics, representing the Gold Mountain-Kena Gold trend, is the most persistent, and could be defined as the Kena Deformation Zone (KDZ). Wide-spaced drilling over its entire length could help to define the bulk of Kena gold mineralization (Oliver, 2009).

The high strain zones that exist west of the KDZ, such as Great Western and North, have weaker alteration signatures, weaker strain profiles, and decreased continuity. Gold mineralization in the GMZ is closely tied to dilatant zones within high strain zones that are associated with the contacts between the Silver King and Elise Formation.

The gold and copper grade width relations within the Kena Copper area suggest a porphyry copper-gold model (Oliver, 2009). Copper-gold mineralization is preferentially associated with dioritic sills and intrusions within the Elise Formation volcanics.

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Deposit Types

The main deposit types that have been explored for on the Kena Project are spatially associated with the Silver King intrusions and described below by Giroux in 2013.

Gold mineralization in Great Western and North, is most likely associated with high strain zones that exist west of the KDZ, lithological controls, changes in bulk rock competency, and differences in anisotropy.

Potential association with a gold porphyry system within the Silver King intrusion (Gold Mountain Zone), conformable gold within the Elise volcanic rocks marginal to the intrusion (Kena Gold Zone), and alkalic copper-gold porphyry (Kena Copper Zone) (Gioux, 2013).

Structurally controlled higher-grade shoots and zones may also occur within or as offshoots from the larger mineralized zones.

Additionally, the Euphrates and Gold Cup showings peripheral to the Silver King might represent an orogenic gold model. The Dighem zone in the northwest area of the claim block suggests the potential for a volcanogenic massive sulphides deposit.

The Great Eastern/ Great Western zones have also been described as appearing be like the Silver King shear hosted deposits, and the Daylight deposit as vein hosted outcropping at surface (Terralogic, 2018).

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Exploration

Between 2000 and 2010, Apex completed several exploration programs as summarized below.

In December 2020, West Mining purchased the Kena and Daylight Property option from Boundary and have commenced exploration work on the property.

Exploration work on the project is conducted using metric units. The coordinate system used at Kena is Universal Transverse Mercator (UTM) North American Datum of 1983 (NAD83), Zone 11.

9.1 Kena Property Exploration

Exploration on the Kena Property since 2002 includes several phases of soil sampling, numerous rock sampling campaigns, trenching in 2000, 2001, 2003 and 2008 and geophysical surveys and are summarized here.

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Kena Soil Geochemistry

The Kena property has seen several phases of soil sampling, most notably by Noramco, Apex, and Altair. The Gold Mountain, Kena Gold, Kena Copper, South Gold, Three Friends, and Euphrates zones have had extensive to minor coverage. The soil geochemistry for gold is presented in Figure 9-1, and the soil geochemistry for silver is presented in Figure 9-2

Soil sample grids were orientated perpendicular to the expected trend of mineralization, with lines spaced 100m apart and samples collected at 25m spacings. Line spacing was decreased to 50m in areas that showed prospective results. In 2001, a large soil grid was put in for 9.6km south from the existing South Grid to cover the extent of the Silver King intrusive. Grid lines were run at 200m spacings with 50m soil stations. Six small areas with elevated gold soil values were found, three of which correlate to historic workings.

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The grids were established using a compass and hip chain, and sites were identified using grid coordinates, which were then converted to actual based on coordinates derived using a handheld Global Positioning System (GPS) device. Sampling methodology is discussed in Chapter 11, Sample Preparation, Analyses, and Security.

In the GMZ, the gold-in-soil values over the Silver King intrusive, and its contact with the Elise volcanics, are significantly elevated when compared to those in the adjacent rocks. The gold soil anomaly trends at 130[o] for almost 3km and ranges from 0.6 to 1.4km in width. Copper values are low; however, those at the eastern edge of the Silver King are elevated. A linear feature within the intrusive also returned higher copper values.

The Kena Gold zone appears as a 1.2km long and 300m wide gold soil anomaly. Spotty high-grade gold soil values of up to 1.27g/t occur along the western edge of the Kena Gold zone where there are outcrops of the Silver King intrusive.

The South Gold zone shows as strong, cohesive gold anomaly that occurs over Elise volcanics west of the Silver King intrusive. One soil sample returned a result of 2.57g/t gold. There is a moderate copper soil anomaly associated with the zone.

A strong copper soil anomaly, with several copper results greater than 1,000 parts per million (ppm), defines the Kena Copper zone, which occurs southeast of the South Gold zone. It averages 400m wide and extends for 2.3km in a northwest-southeast direction.

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Figure 9-1 Kena Project Soil Geochemistry for Gold (Source: MMTS, 2021)

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Figure 9-2 Kena Project Soil Geochemistry for Copper (Source: MMTS, 2021)

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Soil sample results indicate that there are additional copper and gold anomalies in the Three Friends and Euphrates zones.

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Kena Rock Geochemistry

From 2000 to 2010, Apex completed numerous rock sampling (combined with prospecting and geological mapping) campaigns over most of the Kena and Daylight properties. Elevated gold, silver and copper values were obtained from grab and/or chip samples relating to the numerous historic and new showings on the large claim holdings.

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Kena Trenching

Trenching programs occurred during 2000, 2001, 2003, and 2008. Forty-four trenches were excavated in the Gold Mountain, South Gold, and Kena Copper zones distributed as shown in Table 9-1.

Table 9-1

Kena Summary of Trenching

Year	Zone	Count
2001 and 2001	Gold Mountain	21
2003	Gold Mountain and South Gold	15
2008	Kena Copper	8
Total		44

In 2000, trenching defined the ‘discovery’ area of the Gold Mountain porphyry-style mineralization. Trenching in 2001 followed up favorable results from 2000. Visible mineralization consisted of pyrite as fresh looking, irregularly shaped disseminated blebs, and as fracture fill (often altered to limonite and/or goethite). Coarser blebs of pyrite occur in less-altered parts of the Silver King intrusive. Minor quantities of chalcopyrite are also present. The sulphide content varies from 1% to 5%; however, the gold content does not always directly correspond. Based on the results of this trenching, it was discovered that mineralization in the Silver King is extensive and homogeneous over broad widths.

In 2003, trenches were excavated along a magnetic-low corridor that was identified by airborne geophysics. The intent was to follow and cross the structures in the magnetic feature, and to provide exposure for structural geology studies. Trench, 03TR-7, which intersected quartz veinlets with coarse visible gold, returned an assay results of 66.83 g/t Au from a 2m sample.

In 2008, trenching in the Kena Copper zone consisted of digging eight wide-spaced trenches, which tested 1.9 kilometres of a 2.5-kilometre-long copper soil anomaly. Three trenches returned assay results indicating elevated copper values; however, trench KCT-01 intersected the best intercept of 0.26% Cu over 56 metres. The other trenches contained low concentrations of copper. Two trenches, KCT-02 and KCT-06 each returned gold values of 0.84 g/t over 2 metres and 0.76 g/t over 2 metres, respectively.

During 2007, Apex sampled an historic exploration drift in the Kena Copper zone, which returned results of 0.51% Cu over 26 metres (including 2 metres of 1.65% Cu and 0.53 g/t Au).

A summary of significant results from trenching is shown in Table 9-2.

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Table 9-2 Kena Trenching Significant Sample Results

Zone	Year	Trench ID	From (m)	To (m)	Width (m)	Au (g/t)	Cu (%)
Gold Mountain	2000	TR-1 Including	0 15	49 18	49 3	1.58 6.26
		TR-2 Including	0 49	55 52	55 3	1.26 3.86
		TR-3 Including	0 6	22.2 9	22.2 3	2.3 11.38
		TR-4 Including	0 3	20.5 6	20.5 3	1.43 4.92
		TR-5 Including	0 24	27 27	27 3	0.84 1.51
		TR-6	0	9	9	0.2
		TR-7 Including	0 2	6 4	6 2	0.58 1.29
		TR-8 Including	0 6	39 9	39 3	0.78 1.61
		TR-14 Including	0 21	24 24	24 3	0.51 1.12
Gold Mountain	2001	01TR-2 Including	0 21	24 24	24 3	1.28 2.35
		01TR-4 Including	0 6	36 9	36 3	0.22 1.31
		01TR-5 Including	0 60	84 63	84 3	0.29 1.21
		01TR-6 Including	0 12	15 15	15 3	0.79 1.44
Kena Copper	2008	KCT-01 including including	0 12 28	56 14 32	56 2 4	0.137 0.302 0.165	0.26 0.67 0.74
		KCT-04 including KCT-06	0 18 20	48 28 40	48 10 20	0.102 0.226 0.131	0.1 0.27 0.11

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Kena Geophysics

Geophysical studies including induced polarization, airborne magnetics and radiometric, and ground magnetometer have been conducted at the Kena property and are discussed here.

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Kena Induced Polarization Survey

Induced polarization surveys have been completed over much of the grid areas on the Kena and Daylight Properties. For results and conclusions of these surveys see report by P.E. Walcott, 2001, and BC government assessment reports by L. Dandy 2001-2003.

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Kena Airborne Magnetics and Radiometric Survey

Late in 2003, a Fugro helicopter assisted airborne radiometrics and magnetics survey was flown over the northern portion of the Kena Property. An area of 7 by 3 kilometres was surveyed with 100 metre spaced flight lines.

The government regional high level magnetic map shows a large magnetic low some 18 kilometres in length trending north-westwards through the property. Its eastern extent appears to be spatially related to the Cottonwood Creek and Salmo River stream beds. Two east-west offsets are visible, one in its centre region in the Great Western - Gold Mountain - Shaft area, and the other in the south along a bend in the Salmo River. Fourteen known showings and former small producers (information from BC Government Minfile) lie within this magnetic low feature.

This regional magnetic low and other magnetic features appear to have little to do with the surface geological units as seen by comparison with the regional geology after Hoy & Dunne. This is well illustrated by comparing the geology with the vertical gradient results from the low level heliborne survey where shallow source magnetic features can be seen trending northwesterly through both rock units.

A narrow, shallow, 6km long, positive magnetic feature can be observed trending across the eastern part of the survey area. This feature strikes north northwesterly in its northern part, where it is better defined and northwesterly to the south where its magnitude tails off. This steeply dipping dyke-like magnetic intrusive corresponds to the dioritic dyke described by Hoy & Dunne. Its contact with the volcanics is not recognizable in holes drilled across the same in the vicinity of the Cat and Shaft showing except based on magnetic susceptibility, so the regional metamorphism must have been intense, or it was only magnetite intruded into the volcanic package and not a different rock. The Cat, Shaft, Kena and South Copper-Gold Zones all lie along or are spatially related to this feature, the mineralization of which was presumably brought in by hydrothermal solutions along the same conduit(s) before or after those that brought in the magnetite.

Similar sub parallel and more subtle positive magnetic features are discernible in the underlying Silver King rocks in the northeastern part of the survey area on the plot of the vertical gradient. These are better defined on the plot of the high frequency magnetics, a plot of the short wavelength responses of shallow narrow sources. These could also be attributable to magnetite brought in by hydrothermal solutions, as aforementioned.

Drillholes 01GM-20, 02GM-53, 02GM-62, 03GM-65 and 03GM-71, widely spaced holes drilled into and across one of these northwest trending features, all intersected narrow high grade gold mineralization in

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the hanging wall in close proximity to intrusive dykes and/or zones of higher magnetic susceptibility. This could suggest that the gold mineralization came in along the same conduits before or after the dykes and/or magnetic intrusions.

The radiometric survey appeared to be adversely affected by the overburden and did not make any additional contribution to the understanding of geology and mineralization.

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Kena Ground Magnetometer Surveys

In 2003, a ground magnetic survey was completed to extend to the north the strong magnetic low feature identified by the airborne magnetic survey. The survey over the GMZ was conducted using a Geometrics G816 Proton magnetometer, which measures the total intensity of the earth’s magnetic field with sensitivity up to ±1 nanoteslas (nT) using proton precession.

This survey shows the magnetic low feature extending to the Giveout Creek valley, where it is offset to the east by approximately 200 metres, then continues north trending through the centre of the Athabasca workings. It therefore appears that the gold mineralization at Athabasca is controlled by the same magnetic low shear structure that controls most of the gold mineralization on the Kena Property.

In 2012, Altair conducted a ground survey using a GEMS GSM-19 magnetometer in the area between the GMZ and the Kena Gold zones. Altair also commissioned an analysis of past and current geophysical surveys. The purpose of the analysis was to:

Assess the ground and airborne geophysical data to determine if additional processing could improve the interpretation,
Determine if magnetic data could be filtered such that weak or isolated magnetic highs, representing dykes, might be found within the broader magnetic low, and
To determine if the radiometric data could be enhanced, given that it may reflect the effects of moisture.

By using a combination of the ground and airborne magnetic data as shown in Figure 9-3, four isolated magnetic highs were identified, that may represent mafic dykes within the main magnetic low region. The magnetic lows are outlined in black.

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Figure 9-3 Combined Magnetics including the 2003 Airborne, 2003 Ground and 2012 Ground Surveys (Source: Giroux, 2013)

The northern magnetic low is labeled A, and the southern main magnetic low region is labeled B, as shown in Figure 9-4. These dykes were modeled to strike through the magnetic low with steep dips, and trend in the same orientation as the magnetic low. Two isolated magnetic highs strike perpendicular to the magnetic low. There is only one possible mafic dyke within the northern magnetic low, Area A, that has a strike parallel to the surrounding magnetic low. There are two potential faults cutting through a shear zone that separates the two magnetic low regions near Gold Mountain.

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Figure 9-4

Magnetic Survey Near Gold Mountain (Source: Giroux, 2013)

An apparent magnetic low splay from the main magnetic low occurs just north of the concentrated drilling in the GMZ. It could be an indication of a possible splay in the main shear zone. Processing was done to identify potential isolated magnetic highs within both the north-west main magnetic low and the apparent magnetic low splay, which could be an indication of mafic dykes. Eight isolated magnetic highs were identified within the main magnetic low trending north-west, while only one isolated high was found within the magnetic low splay, shown in Figure 9-5. Based on the interpretation that the isolated magnetic highs identify locations of mafic dykes, it would indicate that drilling north-west along the main magnetic low trend would be more favourable.

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Figure 9-5 Compilation of Lineation and Faulting Identified in all Processing Methods (Source: Giroux, 2013)

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Kena LiDAR Survey

In 2012, Altair contracted Eagle Mapping Ltd. (Eagle), of Port Coquitlam, BC, to fly an aerial light detection and ranging (LiDAR) survey over 15.3km² of the Kena Property, delineated in Figure 9-6. Eagle used an airborne GPS/IMU Riegl VQ-480 laser scanner system to produce a digital topographical model with 0.15 metre vertical accuracy and 0.3 metre horizontal accuracy. This data provided the topography surface for the resource model and was used to provide accurate elevations for drillhole collars.

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Figure 9-6 LiDAR Survey Coverage Over the Kena Property (Source: Giroux, 2013)

9.2 Daylight Property Exploration

In 2001, Apex expanded the Gold Mountain soil grid farther west to cover the Great Western Zone. An area of 1100 by 500 metre in size, with very high gold soil values, was outlined in the Silver King intrusive and along its western contact with the Elise volcanics. Highest gold values in soil on the Great Western were 1259 ppb (L21N, 11+25W). Thick basal till present in some areas may subdue the geochemical response. At the Starlight, gold soil values reach up to 4168 ppb near the old workings (most likely due to contamination). At the Victoria workings, gold ranges up to 50 ppb, and at the Daylight-Berlin gold is 82 ppb. Generally, gold soil values along the Starlight trend are <200 ppb Au.

In 2002, a series of rock grab samples were taken in the area. 16 rock grab samples from the historic Great Western workings returned between 0.36 and 119.3 g/t Au. At the Starlight showing, high grade gold vein workings follow a prominent shear that is well defined by an Induced Polarization chargeability high for three kilometres. 11 rock grab samples from the Starlight workings returned between 0.50 and 22.5 g/t Au. Two samples taken from the Victoria-Jesse workings returned 10.19 and 11.45 g/t Au; and four Daylight-Berlin samples returned between 0.9 to 10.94 g/t Au.

In 2017, TerraLogic Exploration conducted a three-phase field program on behalf of Prize Mining Corp. The initial spring program consisted of prospecting, road-cut chip sampling, infill soil geochemistry and a

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ground magnetic survey. These results were used to direct follow up prospecting, geological mapping and target generation for the fall trenching and diamond drilling.

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Daylight Soil Geochemistry

The results of an 18-line soil geochemical survey over the main Great Eastern/Western and Starlight/Daylight trends completed in 2017 are reported by TerraLogic in 2018 and summarized here.

Soil lines over the Great Western/Eastern area were designed to follow cross-cut historical soils and regional magnetic trends to results in an average soil sampling density of 50x25m, including historical samples. Soil samples from 445 locations were collected and maps with results were created for Au, Ag, and Cu. The map for gold is given in Figure 9-7.

The statistical analysis was separated between the two main trends to get a more accurate portrait of lithological and mineralization style differences. Soil elemental levels and correlation to gold content vary significantly between the two trends. Starlight/Daylight soils tend to have much higher Mo and Cu background levels with slightly more elevated Zn, Fe, Cr, and Te compared to the Great Eastern/Western zone. Magnesium is up to two orders of magnitude higher along the Starlight-Daylight trend, a likely expression of the mafic volcanic host rocks. Background Au values in soils from Great Eastern/Western are two orders of magnitude higher than over the Starlight/Daylight area. These differences can be attributed to different lithologies, alteration and mineralization styles and concentrations between the two main trends. The intrusive hosted mineralization tends to be associated with sheeted veins that have a relatively widespread distribution, in comparison to mineralization along the Daylight-Starlight trend which tends to be concentrated in 1 or 2 centralized 50-150-centimeter-thick quartz veins. quartz veins.

A total of 14 Au+-Ag soil anomaly targets were identified and corroborate historical soil samples. Most Starlight/Daylight anomalies follow the general NW-SE regional Silver King Shear trend whereas the Great Eastern/Western anomalies are broader with no particular orientation. Gold-in-soil signatures through the Starlight/Daylight are very spotty and segmented compared to the extensive and continuous Great Eastern/Western, perhaps a reflection of mineralization style differences between the two trends. As noted above, Au content in soils at the Great Eastern/Western is also considerably higher.

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Figure 9-7 Daylight 2017 Soil Sample Locations and Results (Source: TerraLogic, 2018)

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Daylight Rock Geochemistry

The results of surface rock sampling in 2017 are reported by TerraLogic in 2018 and included here.

A total of 421 rocks samples were collected from the Daylight project area in 2017. This includes 76 grab and chip samples collected while prospecting/mapping 100 composite-chip samples from the C-series trenches, and 245 channel and chip samples from the fall-series mechanical trenches (Figure 9-8). The Terralogic report lists the top 40 gold mineralized samples of all types (>500 ppb Au). The sampling

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distribution has 65% of surface samples collected from within volcanic host rocks, with the remainder (35%) collected from areas underlain by the Silver King Porphyry. Despite the highest sample return coming from areas underlain by volcanics, 70% of the anomalous samples were collected from areas underlain by the Silver King Porphyry. This anomaly distribution confirms that the volcanic hosted Starlight-Daylight veins system is host to discreet narrow zones of high-grade gold mineralization; in contrast to the Silver King hosted mineralization of the Great Eastern and Western zones where gold bearing structures tend to be lower grade but more widespread.

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Daylight Rock Sampling and Trenching

The results of a rock sampling and trenching program in the fall of 2017 are reported by TerraLogic in 2018 and summarized here.

The primary goal of the 2017 trenching was to transect the main structures of interest determined by the prior studies, historical and collected data. In all, a total of 390 linear meters of road- cut sampling (Cseries), plus 1180 meters of excavated trenching was completed. A total of 421 rocks samples were collected from the Daylight project area. This includes 76 grab and chip samples collected while prospecting/mapping, 100 composite-chip samples collected during the C-series trenches and an additional 245 channel and chip samples collected from the excavated trenches.

The best gold return of 42.5 g/t Au is from a 1m channel sample in Trench E located along the volcanichosted vein system just southeast of the Starlight adit. Significant results from the trenches include 7.19g/t over 2m in Trench I2, and 3.59g/t over 3m in Trench I1. The top grab was 9.05g/t, coming from near the Great Western adit in a sample of Silver King porphyry with quartz veining.

Despite the highest sample return coming from areas underlain by volcanics, 70% of the top 40 samples (all over 0.5g/t) were collected from areas underlain by the Silver King Porphyry. This anomaly distribution confirms that the volcanic hosted Starlight-Daylight veins system is host to discreet narrow zones of highgrade gold mineralization; in contrast to the Silver King hosted mineralization of the Great Eastern and Western zones where gold bearing structures tend to be lower grade but more widespread.

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Figure 9-8 Daylight Trench and Rock Sample Locations with Gold Results (Source: TerraLogic, 2018)

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Daylight Geophysics

Geophysics surveys of the Daylight property have included induced airborne magnetics, induced polarization, and a ground magnetic survey.

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Daylight Induced Polarization Survey

Induced polarization surveys have been completed over much of the grid areas on the Daylight Property. For results and conclusions of these surveys see report by P.E. Walcott, 2001, and BC government assessment reports by L. Dandy 2001-2003.

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Daylight Ground Magnetic Survey

The results of a magnetic survey reported below are described by TerraLogic in 2018 and summarized here.

The greater Daylight property area was previously subject to an airborne magnetic survey, however, to obtain more detailed results, a tightly spaced, 50m line-spacing, walking magnetic and VLF-EM survey was executed. The survey was conducted in July and August of 2017 and resulted in a 48.35 line-km survey which straddles the Silver King Intrusive/ Elise Volcanic contact in the Great Western/Eastern areas, and over the entirety of the Starlight-Daylight Shear system within the Elise Volcanics.

The primary purpose of the ground geophysical survey was to complete a more detailed magnetic response assessment of the entire Daylight property. Lithological contrasts are of prime interest including differentiation of Elise volcanics, Silver King porphyry, and late-stage mafic dykes, and quartz vein systems and their associated magnetic haloes (positive and negative). The mafic dykes are of particular interest. They are strongly magnetic relative to all other lithologies and have an inordinate spatial association with mineralization on the property. The final gridded magnetic data is shown in Figure 9-9.

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Figure 9-9 Daylight Ground Magnetic Survey (Source: TerraLogic, 2018)

Both the volcanics and Silver King complex exhibit broad ranges of magnetic response. In general, the Silver King complex magnetic response is more subdued than the volcanics, with increasing magnetic signatures approaching the Silver King complex/volcanic contact. This contact is associated with a discernable narrow magnetic trough that is lined with parallel magnetic high lineaments on both sides. The broad zone of anomalous gold in soils between the Great Eastern and Great Western zone appears to be underlain by relatively low magnetic response.

By far, the majority of outcrop geostations in the volcanics note the presence of moderate to strong magnetic responses, except where strongly silicified. For the most part, the ground magnetic survey agrees with this generality. The main exception is in the lower elevations, within 150 to 200m of Giveout Creek, and to a lesser degree the low to moderate response 180m wide corridor that envelops the Daylight workings near the southeast limit of the survey. Both zones have notable thicknesses of glacial or alluvial cover. Several geostations in these low areas that do note limited outcrop also indicate a strong response by hand magnets. It is likely that the overburden in these areas is shielding the outcrop magnetic response.

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The Daylight/Starlight vein system clearly follows a magnetic discontinuity as shown in Figure 9-10. In the Starlight working area, the vein is located at a transition linear from very high to moderate response. This trends to the southeast into the Victoria workings area that is enveloped by a more distinct magnetic low trough. This magnetic trough feature is more-or-less continuous until the B-trenches (100m NE of the Daylight workings), after which overburden is likely obscuring the magnetic response.

An additional parallel magnetic trough is notable in the volcanics approximately 300m north of the Starlight/Daylight vein system. Trench K, C3 and drillhole DL17008 all test this feature. Despite the intense shearing and limonite-hematite staining, no significant mineralization has been detected along this feature so far.

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Figure 9-10 Daylight Magnetic Survey with Surface Features (Source: TerraLogic, 2018)

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Drilling

10.1 Summary of Drilling

A summary of drilling in all zones and included in the resource database is shown in Table 10-1. The collar locations of all drillholes in all zones are shown in Figure 10-1 and a listing of all drillhole locations, orientations and depths is provided in Appendix A. Between 2001 and 2017, 28,366.36m have been drilled, or 71% of the total drilling. The operator and year of drilling is indicated by location on Figure 10-2. A breakdown of drilling by zone is provided in subsequent sections.

Table 10-1 Summary of Drilling - All Zones

Operator	Year	DD Holes	DD Holes	Percussion Holes	Percussion Holes	Rev. Circ. Holes	Rev. Circ. Holes	Total	Total
		No. Holes	Length (m)	No. Holes	Length (m)	No. Holes	Length (m)	No. Holes	Length (m)
Ducanex	1974			4	249.94			4	249.94
Kerr Addison	1981	6	1,164.20					6	1,164.20
Lacana	1985	13	1,318.85					13	1,318.85
	1986	22	3,128.75					22	3,128.75
Tournigan	1987	6	918.98					6	918.98
South Pacific	1988	6	886.22					6	886.22
Noramco	1990	10	2,710.70					10	2,710.70
	1991	3	1,075.19					3	1,075.19
Apex	2001	29	4,901.10					29	4,901.10
	2002	53	9,025.36			4	385.10	57	9,410.46
	2003	22	1,086.73					22	1,086.73
	2004	4	613.26					4	613.26
	2007	1	547.73					1	547.73
	2010	10	1,585.29					10	1,585.29
Altair	2012	41	7,527.02					41	7,527.02
Prize Mining	2017	18	2,694.77					18	2,694.77
Total		244	39,184.15	4	249.94	4	385.10	252	39,819.19

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Figure 10-1 Kena Project Drillhole Locations (Source: MMTS, 2021)

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Figure 10-2 Kena Project Drillhole Operator and Year (Source: MMTS, 2021)

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Kena-Gold Mountain Drilling Summary

A summary of all drilling in Kena-Gold Mountain and included in the resource database is provided in Table 10-2.

Table 10-2 Kena-Gold Mountain Summary of Drilling

Operator	Year	DD Holes	DD Holes	Percussion Holes	Percussion Holes	Rev. Circ. Holes	Rev. Circ. Holes		Total
		No. Holes	Length (m)	No. Holes	Length (m)	No. Holes	Length (m)	No. Holes	Length (m)
Ducanex	1974			4	249.94			4	249.94
Kerr Addison	1981	3	528.50					3	528.50
Lacana	1985	12	1,269.78					12	1,269.78
	1986	22	3,128.75					22	3,128.75
Tournigan	1987	5	750.08					5	750.08
South Pacific	1988	6	886.22					6	886.22
Noramco	1990	8	1,963.60					8	1,963.60
	1991	1	351.43					1	351.43
Apex	2001	29	4,901.10					29	4,901.10
	2002	38	6,380.25			4	385.1	42	6,765.35
	2003	22	1,086.73					22	1,086.73
	2004	4	613.26					4	613.26
	2007	1	547.73					1	547.73
	2010	7	845.24					7	845.24
Altair	2012	41	7,527.02					41	7,527.02
Total		199	30,779.69	4	249.94	4	385.1	207	31,414.73

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Copper Zone Drilling Summary

A summary of all drilling in the Copper Zone and included in the resource database is provided in Table 10-3.

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Table 10-3 Copper Zone Summary of Drilling

Operator	Year	DD Holes	DD Holes
		No. Holes	Length (m)
Kerr Addison	1981	3	635.70
Lacana	1985	1	49.07
Tournigan	1987	1	168.90
Noramco	1990	2	747.10
	1991	2	723.76
Apex	2002	4	1,065.33
	2010	3	740.05
Total		16	4,129.91

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Daylight Drilling Summary

A summary of all drilling in the Daylight area and included in the resource database is provided in Table 10-4.

Table 10-4 Daylight Summary of Drilling

Operator	Year	DD Holes	DD Holes
		No. Holes	Length(m)
Apex	2002	6	868.37
Prize Mining	2017	12	1,669.71
Total		18	2,538.08

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Great Eastern and Great Western Drilling Summary

A summary of all drilling in the Daylight area and included in the resource database is provided in Table 10-5.

Table 10-5 Great Eastern & Great Western Summary of Drilling

Operator	Year		DD Holes
		No. Holes	Length (m)
Apex	2002	5	711.41
Prize Mining	2017	6	1,025.06
Total		11	1,736.47

10.2 1974 Drilling – Ducanex Resources Ltd.

The following information on drilling by Ducanex Resources Ltd. is taken from Johnson, 1974.

In 1974, four percussion drillholes, totalling 249.94m, were completed on the Kena claim group. Drilling was conducted by H.N. Horning Percussion Drilling Limited of Kamloops, BC, and was supervised by geologist Darrel Johnson, of Ducanex Resources Ltd. The drill was a truck-mounted, air-powered Atlas

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Copco percussion drill. Holes drilled were 476mm in diameter. A larger 508mm bit was attempted initially; however, it was abandoned due to extremely hard rock.

In addition to the reduction in bit size, further struggles were encountered during drilling. Hole P74-01 was abandoned at 15.24m due to loss of circulation, and no samples were recovered. Hole P74-02 was a second attempt from the same location, as a vertical hole. Holes P74-03 and P74-04 were both drilled at an azimuth of 040° and dip of -60°.

10.3 1981 Drilling – Kerr Addison Mines Ltd.

The following information on drilling by Kerr Addison Mines Ltd. is taken from.

In 1981, Kerr Addison Mines Ltd. drilled three AQ-sized holes in the Kena-Gold Mountain area to investigate gold anomalies in soils, and three holes in the Copper Zone to test copper anomalies in soils. Drilling was completed by Bergeron Drilling Ltd. of Greenwood, BC (Sirola, 1981).

10.4 1985-1986 Drilling – Lacana Mining Corporation

In 1985, Lacana Mining Corporation drilled 12 NQ-sized holes on Kena-Gold Mountain and one hole on the Copper Zone, totalling 1,269.78m and 49.07m, respectively. There was a break in drilling on LK85-14 in July of 1985 due to forest closure, and no reports are available for the five holes drilled after the closure (Johnston, 1985 and Johnston, 1986).

In 1986, 22 NQ-sized drillholes were completed in the Kena-Gold Mountain area, for a total of 3,128.75m. The program targeted the south extent of the mineralization encountered in 1985, one showing and two gold-in-soil anomalies away from the main zone. The first hole, LK86-20 intersected 9.03m of silicified and pyritized breccia assaying over 3.97g/t, while the remaining holes intersected spotty silicification and less pyrite. Although mineralized intersections were encountered around the main zone, Lacana concluded that the gold mineralization was spotty and did not continue to depth.

10.5 1987 Drilling – Tournigan Mining Explorations Ltd.

In 1987, drilling was conducted by Beaupre Diamond Drilling of Princeton, BC. A total of five holes were drilled on Kena-Gold Mountain and one hole on the Copper Zone, for a total of 750.08m and 168.9m, respectively (Black, 1987).

10.6 1988 Drilling – South Pacific Gold

In 1988, six NQ-sized core holes were drilled, for a total of 886.22m, on the Kena-Gold Mountain area. The 1988 drilling targeted the Shaft showing. Results from a 5.64m intersection of magnetite-rich volcanic breccia assayed 5.04g/t gold and 0.72% copper (Giroux, 2013).

10.7 1990-1991 Drilling – Noramco Mining Corporation

In 1990, a total of eight diamond drillholes were completed on Kena-Gold Mountain, and two diamond drillholes on the Copper Zone, for a total of 1,963.3m and 373.55m, respectively (Lewis, 1990).

A first phase of drilling included holes SH90-01 through SH90-06, completed by Lone Ranger Diamond Drilling Company Ltd. with a Longyear ‘44’ bulldozer-mounted diamond drill. Drillhole SH90-1 intersected

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siliceous tuff, with pyrite and pyrrhotite mineralization with traces of chalcopyrite and sphalerite, a zone of fine-grained tuff and augite-crystal tuff with highly altered sections and ended in weakly altered coarse lapilli tuff. There were no overly significant results for gold or copper (Lisle, 1991).

The NQ-sized drillholes K90-01 through K90-04 were drilled later in the year on the Kena-Gold Mountain and Coppper Zone. K90-01 targeted gold-in-soil anomalies, and K90-02 targeted the tuff-porphyry contact zone to test for mineralization. In K90-01, trace to minor chalcopyrite and chalcopyrite occur in the porphyry, and anomalous gold results were returned throughout the hole in andesitic tuff and Silver King Porphyry. The highest assay in the hole, 12.7g/t over 1.5m occurs in an intersection with pyrite stringers up to 1.2cm wide and may be due to a nugget effect. K90-03 and K90-04 targeted anomalous copper in soils, and intersected trace chalcopyrite and pyrite mineralization, with increasing pyrite in mafic units. Four intersections of anomalous copper >0.1%, ranging from 7.5 to 16.5m in length, were encountered in the hole K90-03. K90-04 intersected 12 intervals (ranging 3.0 to 57.0m) that are all >0.1%.

In 1991, two drillholes were completed on the Copper Zone, totalling 723.76m, and one hole on KenaGold Mountain, 351.43m in length. The holes were testing geochemical, geophysical, and geological targets. Drillhole NK91-01 is the only hole described in the report (Lisle, 1991), it was drilled to test a copper in soil anomaly, IP chargeability anomaly and possible depth extension of mineralization identified in drillhole K90-04. Chlorite and epidote alteration are common, with 1-3% pyrite mineralization on average and traces of chalcopyrite and fine magnetite. Gold assays ranged up to 1.894g/t, and copper up to 0.1756%, with general correlation between high gold and high copper in the upper half of the hole.

10.8 2001-2010 Drilling – Sultan / Apex

During 2001, a total of 29 diamond drillholes were completed, for a total of 4,901.1m on Kena-Gold Mountain. The first seven holes of 2001 confirmed the depth extension of widespread, porphyry-style gold mineralization within the Silver King intrusive and across the contact into the Elise Volcanics. The drilling showed that a broad zone of mineralization correlates well with coincident high gold in soil geochemistry and chargeability/resistivity highs. Samples averaged 0.8g/t gold, with intervals up to 28m grading >2.5g/t gold, and 12m >4.0 g/t gold. The highest assay result was 16.20g/t gold over 2m in drillhole 01GM-05 (Dandy, 2001).

A second phase of drilling was conducted later in 2001 and into 2002, including diamond drillholes and reverse circulation drillholes (01GM-21 through 02GM-29, 02GM-30 through 02GM-40, and R02GM-01 to 04). Most of the drillholes in the second stage of 2001 drilling were step out holes to follow up on the results from the first phase of drilling. Four reverse circulation drillholes, for a total of 385.1m, were completed on Kena-Gold Mountain; however, they were unsuccessful at recovering samples at depth due to groundwater and the hardness of the intrusive rock. After four reverse circulation holes were completed, that method was abandoned, and the remaining holes were drilled by diamond drill. The results indicated zones of “bulk-tonnage type” gold mineralization, with multiple holes containing 100m wide zones averaging >1g/t gold. Several holes also intersected high-grade gold, indicating a gold-enriched zone spatially related to the contact between the Silver King Porphyry and the footwall of the Elise Volcanics. The high-grade intersections likely occur along a series of sub-parallel structures that cross the regional geologic trend at an oblique angle. (Dandy, 2002).

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Through the summer and fall of 2002, drilling was carried out on all areas of the project. In the Gold Mountain area, holes tested the depth and strike length of gold mineralization, and the intrusive-volcanic contact. Many holes contained high grade gold assays over two-meter intervals, often surrounded by at least 100m of lower grade gold values, with many holes averaging over 0.3g/t gold for the entire length of the hole. The drilling in the Copper Zone was all within the Elise Volcanic package and showed that gold and copper mineralization increases and becomes widespread towards grid south, with high-grade mineralization occurring in a rusty, pyritic core, and low-grade halo mineralization associated with silica/potassium alteration. Drilling in Great Western tested the area under historic workings, an area with abundant quartz veining, and an area with coincident gold-in soil and high chargeability anomalies. In general, the drilling in Great Western identified broad widths of gold mineralization in areas of increased quartz and quartz-sulphide veining, or adjacent to lamprophyre dykes within the Silver King intrusive. Drilling in the Daylight zone showed elevated gold values confined to the same vein network of the historic workings. Shallower dyke swarms, and a deeper wide dyke were intersected in drillholes, and gold mineralization was seen to be confined to the area between the dykes. In general, the Daylight drilling identified a gold and silver-bearing vein system surrounded by lower grade stockwork mineralization, hosted within a strong northwest trending shear structure (Dandy, 2002).

Overall, in 2002, 38 drillholes were completed on Kena-Gold Mountain, for a total of 6,380.25m, four holes were completed on Copper Zone, for a total of 1.065.33m, six holes were completed on Daylight, for a total of 868.37m, and five drillholes were completed on Great Eastern and Great Western, for a total of 711.41m (Dandy, 2002).

All drilling in 2003 and 2004 was within the Kena-Gold Mountain area, 22 holes were completed in 2003, for a total of 1.086.73m, and four holes completed in 2004 for a total of 613.26m.

In 2007, one deep HQ-sized drillhole, 547.73m in length, was completed to test the depth extension of mineralization. The drillhole intersected mineralization deeper than had been previously identified. From surface to a depth of 430m down the hole, the core samples assayed 0.5 g/t gold, including a 101.27m section averaging 0.84 g/t gold, and several higher-grade intersections, including 10.99 g/t gold over 4m, 9.10g/t gold over 1.27m, and 11.26g/t gold over 2m (Dandy, 2007).

In 2010, ten holes were drilled by Apex, seven holes on Kena-Gold Mountain, totalling 845.24m, and three in the Copper Zone, totalling 740.05m. The Kena-Gold Mountain holes were drilled to test a magnetic low feature, believed to represent a deep-seated structural corridor. A non-mineralized mafic dyke was intersected in multiple holes, with gold mineralization occurring in the hanging wall of the dyke. One hole in Copper Zone (10SG-05) tested the down-dip potential of gold mineralization and the other two in Copper Zone were testing copper-gold porphyry potential (Dandy, 2010).

10.9 2012 Drilling – Altair Gold Inc.

In 2012, 41 NQ2-sized diamond drillholes were completed in the Kena-Gold Mountain area, for a total of 7,527.02m. Drilling was conducted by Wade Critchlow Enterprises Ltd. of Salmo, BC with a JKS Boyles A5 B2 skid-mounted drill. Drilling was oriented along section lines at 040° and 060°, perpendicular to the trend of mineralization. Drilling was intended to fill in gaps between wide-spaced drilling and expand the mineral resource and was successful in defining wide zones of gold mineralization with narrow higher-

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grade intervals, consistent with results from historic drilling. Two holes drilled in the northeast (12NESP01, and 12NESP-02) did not encounter any significant results (Giroux, 2013).

10.10 2017 Drilling – Prize Mining Corporation

In 2017, twelve holes were completed on Daylight, totalling 1,669.71m, and six holes were completed on Great Eastern and Great Western, totalling 1,025.06m. All drillholes were NQ2-sized. The main targets were ore shoots at depth along the main Daylight-Starlight trend in the Elise Volcanics, and the Great Eastern and Great Western mineralized zones with the Silver King Porphyry. Drilling was conducted by Lucky Drilling of Castlegar, BC. Some significant results include 17.57m of 0.58g/t gold in DL17002, 32.60m of 1.16g/t gold in DL17005, 71.22m of 1.09 g/t gold and 19m of 1.00g/t gold in DL17007, and 5.00m of 2.76g/t gold in DL17016 (Brown and Gagnon, 2018).

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Sample Preparation, Analyses and Security

11.1 Sampling Protocols and Principal Laboratories

Sampling by Prize Mining Corporation 2017 (Daylight, Great Eastern & Great Western)

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Core logging and sampling was completed at a secure core logging facility in Salmo. The core was then stacked and stored at property of Jack Denny, in Salmo, BC. Drill core was selected for assay based on mineralization and alteration, with sample intervals ranging from a minimum of 0.5m to a maximum of 2m in length. Most samples were split by manual core splitter at a secure core storage facility. Selected samples with highly mineralized or altered zones were cut with a saw to better observe the mineralization (Brown and Gagnon, 2018).

Samples were shipped to Bureau Veritas labs in Vancouver, BC. Bureau Veritas is accredited by the Standards Council of Canada under standards ISO/IEC 17025:2017 and RG-MINERAL (Brown and Gagnon, 2018)..

Received samples were prepared by Bureau Veritas method PRP70-250. Samples were entered into the Laboratory Information Management System (LIMS) by Bureau Veritas personnel. The samples were then weighed, dried, and crushed to 70% passing 10 mesh (2mm), homogenized, riffle split (250g subsample) and pulverized to 85% passing 200 mesh (75 microns). Bureau Veritas conducts QC testing at random intervals and at the start of each shift to ensure these specifications are met (Brown and Gagnon, 2018)..

Rock samples were analyzed using a 45-element ICP-MS package following 4-acid digest, and for gold by fire assay fusion – AAS finish (FA330-Au) with any fire assay result greater than 10ppm being re-run with fire assay fusion – Gravimetric finish (Brown and Gagnon, 2018).

Soil sampling traverses were navigated using a GPS device. Samples were collected at 25m spacing using a geotool or dutch auger. Wherever possible, the soil samples were collected from the B-Horizon of the soil profile (layer where metal ions are most mobile), or layer below organic material if B-horizon could not be found at a particular station. Soil Sample depth varied across the survey from 5-25cm. Data collected for each sample included sample size, quality, depth, slope, soil horizon color, and other notes. The quality of the sample is rated from 1-5, with 1 being very poor quality and 5 being excellent. Factors affecting quality include sample size, soil development, and amount of organic matter (Brown and Gagnon, 2018)..

Soil samples were laid out to dry at the end of each day. Any samples with damaged bags or unclear labels were re-bagged and labeled. Soil samples were sorted, counted, and placed into rice bags for shipment. Each rice bag was labeled with shipment number and shipping/receiving addresses. The soil samples were shipped to Bureau Veritas in Vancouver, BC via Greyhound Bus lines. Soil samples were analyzed by 37element ICP following aqua regia digest of a 30g pulp (Brown and Gagnon, 2018)..

Trench sampling was conducted on bedrock exposures or road cuts. Orientation and location of trenches were recorded with compass and hand-held GPS. Sample spacing ranged from 1-5m depending on lithology, mineralization, and alteration. Samples were collected by chipping or sawing in a representative manner. Collected samples were bagged and tagged and then put into rice bags for shipment to Bureau

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Veritas lab in Vancouver, BC. The samples were analyzed by 45-element ICP after 4-acid digestion, and AAS fire assay for gold. Any gold result greater than 1000ppb was subject to metallic screen fire assay (Brown and Gagnon, 2018)..

Sampling by Altair Gold Inc. 2012 (Kena)

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Boxed and sealed drill core was driven to the core facility in Salmo, BC daily. The geologist marked major sampling breaks, and individual samples were marked by the geotechnician. Core was generally split using a standard manual core splitter, with selected intervals being cut with a rock saw. Half of the core was placed into a labelled sample bag, with a sample tag. The remaining half core was returned to the box and labelled with the matching sample tag. Samples were typically collected along the entire drillhole, in 2m intervals, with lithological, alteration and mineralization boundaries being honoured (Park and Grunenberg, 2013).

Core logging, splitting, and sampling was conducted within a secure third-party core facility on private property in Salmo, BC. Access to the facility was limited to Altair personnel and the facility owner. Bagged samples were packaged into rice bags, sealed, and held in a locked area until they were picked up by commercial trucking company every few days for shipment (Park and Grunenberg, 2013).

Three certified reference materials representing a range of gold (±silver ±copper) concentrations were inserted into the sample stream at a ratio of 40:1. Certified reference materials were purchased from WCM Minerals in Burnaby, BC. The material used for blanks was a decorative garden stone purchased from a local vendor. Blanks were inserted into the sample stream at a ratio of 40:1. Field duplicates were collected during the second phase of the 2012 drilling, as quarter core (Park and Grunenberg, 2013).

Samples were shipped to ACME Analytical Laboratories Ltd. in Vancouver, BC (Acme Labs). The laboratory did not report any incidences of tampering or damage to the samples upon arrival at the laboratory. Samples were prepared at the laboratory. Core samples were jaw crushed and split. A one-kilogram sample was crushed to minus 10 mesh (2mm), split to 250g, and then pulverized to minus 200 mesh (74μ). A 15g split underwent aqua regia digestion followed by ICP-MS analysis. Samples with ICP-MS results greater than 0.3g/t Au were re-analyzed using a 30g fire assay (FA) with an atomic absorption (AA) finish. If the FA-AA result for gold was greater than 10g/t, gravimetric finish was used. Selected core samples were submitted for metallics analysis. The sample for metallics assay was crushed and pulverized. A 500g split is screened, with the plus (+) 150 and –150 mesh fractions reserved for 30g fire assay. The plus fraction is finished gravimetrically, and the minus fraction is finished by AA. Pulps and rejects were discarded by the laboratory after 90 days (Park and Grunenberg, 2013).

Acme Labs implemented a quality system compliant with the International Standards Organization (ISO) 9001 Model for Quality Assurance and ISO/IEC 17025 General Requirements for the competence of testing and calibration laboratories. On November 13, 1996, AcmeLabs became accredited under ISO 9001 for competency in geochemical analysis and assaying. The laboratory maintained its registration in good standing from that time (Park and Grunenberg, 2013).

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Sampling by Apex 1999-2010 (All Zones)

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2010 Kena Drill Core samples (includes 3 holes in Cu Zone)

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Drill core was split using a standard manual core splitter, and selected intervals were cut with a diamond saw. One half core was placed in a labeled sample bag, and the other half returned to the box with the matching sample number marked on the box. The core is stored at the property of Jack Denny in Salmo, BC. The entire length of core for each hole was split and assayed. Sample lengths were typically two meters, with slight variations in sample length based on lithological changes (Dandy, 2011).

Core samples were shipped by trucking company to Acme Analytical Laboratory Ltd. in Vancouver, BC. All sample preparation was completed by the laboratory. Core samples were jaw crushed and a 250g subsample riffle split from the original sample. The sub sample was further crushed to -200 mesh, sieved, and analyzed by 36 element ICP method, and fire assay for gold. 30 coarse rejects samples were re-submitted to SGS Assays Canada in Vancouver, BC to be analyzed by metallics assay for gold. These 250g samples were pulverized and screened, and then both the fine (-150 mesh) and coarse (+150 mesh) screened fractions were assayed, and total gold assay value was calculated.

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2007 Kena Drill Core Samples

Drill core was typically split using a standard manual core splitter, and selected intervals were cut with a diamond saw. One half core was placed in a labeled sample bag, and the other half returned to the box with the matching sample number marked on the box. The core is stored at the property of Jack Denny in Salmo, BC. The entire length of core for each hole was split and assayed. Sample lengths were typically two meters, with slight variations in sample length based on lithological changes (Dandy, 2008).

The core samples were shipped via trucking company to Assayers Canada Ltd. in Vancouver, BC. All sample preparation was completed by the laboratory. Core samples were jaw crushed and a 250g sub-sample riffle split from the original sample. The sub sample was further crushed to -200 mesh, sieved, and analyzed by 30 element ICP method, and fire assay for gold. A pulp sub-sample was retained by Apex for duplicate and check assays. No additional records or certificates are available for duplicate or check assay samples from 2007 (Dandy, 2008).

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2003-2004 Kena Drill Core Samples

There is no report of the sample preparation and analyses for the core samples collected in 2003-2004.The following information is taken from the laboratory certificates containing the samples from 2003-2004.

The samples were analyzed at Acme Analytical Laboratories in Vancouver, BC. A 0.5g sample was leached with 3mL 2-2-2 HCl-HNO3-H2O at 95°C for one hour, diluted to 10mL and analyzed by ICP-ES for 30 elements. Samples with Au > 1g/t were assayed by fire assay from 1A.T. sample.

Selected samples were assayed for total metallics. The -150-mesh fraction analyzed by fire assay from 1A.T. sample, and native gold, total sample fire assay.

Acme had ISO 9001 Accreditation at the time of the assays.

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1999-2002 Kena, Cu Zone, Daylight, and Great Eastern & Great Western Drill Core Samples

In 1999 and 2000 previously unsampled intervals of historic drill core were logged and sampled, and in 2001-2002 new drillholes were logged and sampled. Drill core was typically split using a standard manual core splitter, with selected intervals cut with a diamond saw. One half core was placed in a labeled sample bag, and the other half returned to the box with the matching sample number marked on the box. The core is stored at the property of Jack Denny in Salmo, BC. The entire length of core for each new hole was split and assayed. Typically, sample lengths were two meters, and may vary slightly dependent on lithological changes (Dandy, 2003).

Core samples were shipped by trucking company to Acme Analytical Laboratory Ltd. in Vancouver, BC. All sample preparation was completed by the laboratory. Core samples were jaw crushed and a 250g subsample riffle split from the original sample. The sub sample was further crushed to -200 mesh, sieved, and analyzed by 30 element ICP method and gold by fire assay. Selected samples were analyzed for gold by total metallics. The second sub-sample was retained by Apex for duplicate and check assays. Check assays were sent to ALS Chemex Aurora Laboratory Services Ltd. in North Vancouver, BC (Dandy, 2003).

Sampling by Noramco Mining Corporation 1990-1991 (Kena & Cu Zone)

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1991 Kena and Cu Zone Drill Core Samples

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Sample lengths were typically 1.5m in length. Samples were analyzed for copper, lead, zinc, silver, and arsenic by ICP methods, and gold by fire assay/ICP. Samples were analyzed at Acme Analytical Laboratories Ltd. in Vancouver, BC. For the ICP method, a 0.5g sample was digested with 3mL 3-1-2 HClHNO3-H2O at 95°C for one hour, diluted to 10mL with water. Gold was analyzed by FA/ICP from a 10g sample (Lisle, 1991).

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1990 Kena and Cu Zone Drill Core Samples

Drill core was primarily sampled at 1.5m intervals. The entire length of drillholes K90-2 and K90-4 were sampled, and selected sampling was carried out on holes K90-1 and K90-3. Core samples were shipped to Acme Analytical Laboratories in Vancouver, BC where they were analyzed for 30 elements by ICP methods, and gold by fire assay/ICP from 10g samples. The remaining core is stored on site in racks (Lewis and Silversides, 1991).

Coarse rejects samples from the highest-grade intersections of K90-4 were sent as third-party check samples to Chemex Labs Ltd. of North Vancouver, BC, where they were analyzed for seven elements with gold determination by fire assay/atomic absorption from 10g samples (Lewis and Silversides, 1991).

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Sampling by Tournigan Mining Explorations Ltd. 1987 (Kena & Cu Zone)

Core is stored in racks beside the core shack on the property. Core was split and shipped to Bondar Clegg Laboratories in North Vancouver, BC. Samples were analyzed for gold, silver, and copper. Samples were crushed and pulverized to -150 size fraction. Gold analysis was by fire assay-AA. Copper and silver were analyzed by HNO3-HCl hot extraction and atomic absorption (Black, 1987).

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Sampling by Lacana Mining Corporation 1985-1986 (Kena & Cu Zone)

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Drill core is stored in racks on the property. The samples were boxed in the field and shipped by bus to Acme Analytical Laboratories Ltd. in Vancouver, BC. The core samples were pulverized to -100 mesh. For the ICP method, a 0.5g sample was digested with 3mL 3-1-2 HCl-HNO3-H2O at 95°C for one hour, diluted to 10mL with water. Silver was determined by atomic absorption and multi-element (30 element) analysis was done by inductively coupled argon plasma (ICP). Gold was analyzed by fire assay-atomic absorption from aqua regia digestion of a 10g sample (Black, 1987).

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Years without Sampling Records

The QP does not have any records or information on the methods of sampling, preparation, analyses, or security measures taken for the 1988, 1981 or 1974 drill programs.

11.2 QAQC Summary

The historic reports containing QAQC samples were received from Apex in February 2021. QAQC samples were only included in the drilling years 2012 and 2017. The percentage of QAQC samples for the drilling in years which include QAQC is shown in Table 11-1 and indicates the rate of QAQC sampling is low. The target percentage of QAQC samples is typically 10-15 percent of the samples collected. Because there was no drilling in the Copper Zone in 2012 and 2017, there are no QAQC samples in the Copper Zone (Black, 1987).

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Table 11-1 QAQC Sample Summary (All Areas – Years 2012 and 2017 only)

Sample Type	Great Eastern & Great Western	Daylight	Kena-Gold Mountain	Copper Zone	Total
Years	2017	2017	2012		2012 and 2017
Blanks	6	11	80	0	97
Standards	26	51	88	0	165
Duplicates	6	9	33	0	48
Total QAQC	38	71	201	0	310
Resource Database Assays	572	1,138	2,897	0	4,607
% QAQC	6.23%	5.87%	6.49%	0.0%	6.30%

Within the three zones with QAQC, the database of duplicate samples contains 48 samples. The 2017 duplicates are coarse rejects samples prepared at the laboratory and the 2012 samples are quarter core field duplicates. The prep duplicates and field duplicates are from different zones and different years and are therefore analyzed separately.

Check samples and re-assays were done in years 1990, 2001, and 2002 for data verification and are discussed in Chapter 12. Check assays are reported in 2007 and 2010 however, no certificates are available for those samples.

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Great Eastern & Great Western QAQC

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Great Eastern & Great Western Blanks

A total of six samples of field blank material called “Nelson rock” are included in the Great Eastern and Great Western sample stream during 2017. The results from the blank samples are presented in Figure 11-1 and Figure 11-2 for gold and copper, respectively. Figure 11-1 shows there were no failures at the 5*detection limit value for gold. This indicates little contamination of gold in the sample stream.

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Figure 11-1 Great Eastern & Great Western Blanks – Au (Source: MMTS, 2021)

Figure 11-2 shows that all six samples fail at the 10*detection limit value for copper. The blank material used was a local rock from the Nelson area, not a certified blank material, and the rate of failure indicates that it is not a suitable blank material for copper.

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Figure 11-2 Great Eastern & Great Western Blanks – Cu (Source: MMTS, 2021)

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Great Eastern & Great Western Certified Reference Materials

A total of 26 certified reference material (CRM) samples from 2017 are analyzed for both gold and copper in the Great Eastern and Great Western area.

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Great Eastern & Great Western CRM Gold

The gold results for CRM samples are shown in Table 11-2 in order of decreasing grade. The results show that the mean of the assay of the high-grade gold CRM is slightly lower than the expected value, and the mean of the assay of the mid- and low-grade gold CRM samples are somewhat higher than the expected value. There are zero failures at the +/- 3 standard deviation criteria for the high and mid-grade gold CRM samples, and greater than expected failure rate for the low-grade gold CRM. The error overall indicates slightly higher than expected assay values. The results are considered to show acceptable accuracy for the Great Eastern and Great Western resource estimation.

Table 11-2 Great Eastern & Great Western CRM Analysis Results Gold

CRM	Samples	Au EV (g/t)	Avg Au (g/t)	SD Au (g/t)	CV (Au)	% Error (Au)	High Fail Au	Low Fail Au	% Fail (Au)
ME-1402	9	13.9	13.767	0.354	0.026	-1.0%	0	0	0.0%
ME-1607	6	3.33	3.395	0.123	0.036	1.9%	0	0	0.0%
ME-1414	11	0.284	0.294	0.020	0.068	3.4%	2	0	18.2%
Total	26					1.5%			7.7%

The process control chart for gold for the CRM ME-1402 in Figure 11-3 shows that there is a slight positive trend to the gold results for ME-1402 and the mean is slightly below the expected value.

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Figure 11-3 Great Eastern & Great Western CRM ME-1402 Process Control Chart (Au = 13.9 g/t) (Source: MMTS, 2021)

The process control chart for CRM ME-1607 in Figure 11-4 shows that the results for gold are biased slightly high with a slight negative trend.

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Figure 11-4 Great Eastern & Great Western CRM ME-1607 Process Control Chart (Au = 3.33g/t) (Source: MMTS, 2021)

The process control chart for CRM ME-1414 is shown in Figure 11-5, indicating that the results for gold are biased slightly high, influenced by two high failures. The assays preceding and following these failed standards are low gold values, therefore contamination from surrounding samples is not suspected and there are no records of any corrective action or re-assays of these CRM samples or surrounding samples.

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Figure 11-5 Great Eastern & Great Western CRM ME-1414 Process Control Chart (Au = 0.284g/t) (Source: MMTS, 2021)

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Great Eastern & Great Western CRM Copper

The copper results for CRM samples are shown in Table 11-3 in order of decreasing grade. The results generally show that the mean of the assay of the CRM samples is slightly higher than the expected values. There are no failures at the +/- 3 standard deviation criteria for copper. The overall error indicates slightly higher than expected assay values. The accuracy and precision are reasonable, and the results are considered acceptable.

Table 11-3 Great Eastern & Great Western CRM Analysis Results Copper

CRM	Samples	Cu EV (%)	Avg Cu (%)	SD Cu (%)	CV (Cu)	% Error (Cu)	High Fail Cu	Low Fail Cu	% Fail (Cu)
ME-1402	9	2.9	2.916	0.025	0.009	0.5%	0	0	0.0%
ME-1607	6	0.31	0.313	0.005	0.015	0.9%	0	0	0.0%
ME-1414	11	0.219	0.220	0.005	0.022	0.6%	0	0	0.0%
Total	26					0.6%			0.0%

The process control chart for the CRM ME-1402 is shown in Figure 11-6, which shows that the copper results are very close to the expected value, with no failures outside +/- 3 SD or +/- 2 SD thresholds.

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Figure 11-6 Great Eastern & Great Western CRM ME-1402 Process Control Chart (Cu = 2.9%) (Source: MMTS, 2021)

The process control chart for CRM ME-1607 in Figure 11-7 shows slightly high bias, and positive trend in copper assays.

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Figure 11-7 Great Eastern & Great Western CRM ME-1607 Process Control Chart (Cu = 0.310%) (Source: MMTS, 2021)

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The process control chart for CRM ME-1414 is shown in Figure 11-8 indicating the copper results are very close to the expected value.

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Figure 11-8 Great Eastern & Great Western CRM ME-1414 Process Control Chart (Cu = 0.22%) (Source: MMTS, 2021)

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Great Eastern & Great Western Duplicates

There are six coarse rejects duplicates from the Great Eastern and Great Western area in 2017. To create these duplicate samples, empty bags were submitted to the lab with a sample number (parent sample number with “D” suffix) to indicate when the lab was to take a re-split of the coarse rejects sample. Based on the lab preparing the duplicates and the sample numbering system, these duplicates were not blind to the lab.

There are too few samples for meaningful statistics on the Great Eastern and Great Western duplicate samples. The scatter plot of the gold duplicate pairs is shown in Figure 11-9. It shows high correlation and a 1:1 slope between the duplicate pairs.

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Figure 11-9 Great Eastern & Great Western Au Duplicates Scatter Plot (Source: MMTS, 2021)

The scatter plot of copper duplicate pairs is given in Figure 11-10 on a logarithmic scale. It shows high correlation between the duplicate pairs, with a slight positive bias with the best fit line plotting above the 1:1 line.

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Figure 11-10 Great Eastern & Great Western Cu Duplicates Scatter Plot (Source: MMTS, 2021)

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Daylight QAQC

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Daylight Blanks

A total of 11 samples of blank material are included in the Daylight sample stream during 2017. The results from the blank samples are presented in Figure 11-11 and Figure 11-12 for gold and copper, respectively. Figure 11-11 shows there are no failures at the 5*detection limit value for gold. This indicates little contamination of gold in the sample stream.

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Figure 11-11 Daylight Blanks – Au (Source: MMTS, 2021)

Figure 11-12 shows that all samples fail at the 10*detection limit value for copper. The blank material used was a local rock from the Nelson area, not a certified blank material, and the rate of failure indicates that it is not a suitable blank material for copper. Both the gold and copper results for Daylight blank samples agree with the results from Great Eastern and Great Western blank samples.

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Figure 11-12 Daylight Blanks – Cu (Source: MMTS, 2021)

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Daylight Certified Reference Materials

A total of 51 certified reference material (CRM) samples from 2017 are analyzed for both gold and copper in the Daylight area.

Daylight CRM gold results are shown in Table 11-4 in order of decreasing grade. The results show that the mean of the assay of the high-grade gold CRM is lower than the expected value, and the mean of the assay of the mid- and low-grade gold CRM samples are slightly higher than the expected value. The failure rate is higher than expected for the high-grade CRM. The overall error indicates slightly higher than expected assay values. The results are considered to show acceptable accuracy for the Daylight resource estimation.

Table 11-4 Daylight CRM Analysis Results Gold

CRM	Samples	Au EV (g/t)	Avg Au (g/t)	SD Au (g/t)	CV (Au)	% Error (Au)	High Fail Au	Low Fail Au	% Fail (Au)
ME-1402	19	13.9	13.568	0.415	0.031	-2.4%	0	1	5.3%
ME-1607	15	3.33	3.396	0.118	0.035	1.9%	0	0	0.0%
ME-1414	17	0.284	0.291	0.010	0.035	2.3%	0	0	0.0%
Total	51					0.4%			2.0%

The process control charts for the three certified reference materials are shown in the following figures. A sample which matches the expected value (EV) will plot on the green line, and a sample exceeding the +/- 3 Standard Deviations (SD) failure threshold will plot above or below the red lines. The samples are in order of sequence by sample number. The process control chart for gold for the CRM ME-1402 in Figure 11-13 shows that there is a minor low bias to the gold results, and one low failure below -3 SD.

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Figure 11-13 Daylight CRM ME-1402 Process Control Chart (Au = 13.9 g/t) (Source: MMTS, 2021)

The process control chart for gold for the CRM ME-1607 in Figure 11-14 shows that the mean of the gold results is close and slightly higher than the expected value, with no failures outside the +/- 3 SD or +/- 2 SD thresholds.

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Figure 11-14 Daylight CRM ME-1607 Process Control Chart (Au = 3.33 g/t) (Source: MMTS, 2021)

The process control chart for gold for the CRM ME-1414 in Figure 11-15 shows that the gold results are very close to the expected value, with no failures outside the +/- 3 SD or +/- 2 SD thresholds.

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Figure 11-15 Daylight CRM ME-1414 Process Control Chart (Au = 0.284 g/t) (Source: MMTS, 2021)

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The copper results for CRM samples are shown in Table 11-5 in order of decreasing grade. The results generally show that the mean of the assay of the CRM samples is very slightly higher than the expected values. The failure rate is higher than expected for the mid-grade CRM for copper, with two high failures at the +/- 3 standard deviation criteria. There are no failures at the +/- 3 standard deviation criteria for the high- and low- grade CRM samples for copper. The error overall indicates very slightly higher than expected assay values. The accuracy and precision are reasonable, and the results are considered acceptable.

Table 11-5 Daylight CRM Analysis Results Copper

CRM	Samples	Cu EV (%)	Avg Cu (%)	SD Cu (%)	CV (Cu)	% Error (Cu)	High Fail Cu	Low Fail Cu	% Fail (Cu)
ME-1402	19	2.9	2.911	0.054	0.018	0.4%	0	0	0.0%
ME-1607	15	0.31	0.316	0.005	0.017	1.8%	2	0	13.3%
ME-1414	17	0.219	0.219	0.004	0.020	0.2%	0	0	0.0%
Total	51					0.7%			3.9%

The process control chart for the CRM ME-1402 in Figure 11-16 shows that the copper results are very close to the expected value with no failures outside +/- 3 SD or +/- 2 SD thresholds.

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Figure 11-16 Daylight CRM ME-1402 Process Control Chart (Cu = 2.9 g/t) (Source: MMTS, 2021)

The process control chart for CRM ME-1607 in Figure 11-17 shows that the results are biased high, with two high failures and include four consecutive sample outside the +2SD line. The assays preceding and following these failures are generally low Cu values. The first failure follows a few samples after an assay of 0.2% Cu, which is the highest nearby assay, and lower than the expected value for the CRM.

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Contamination from surrounding samples is not suspected and there are no records of any corrective action or re-assay of these CRM samples or surrounding samples.

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Figure 11-17 Daylight CRM ME-1607 Process Control Chart (Cu = 0.31 g/t) (Source: MMTS, 2021)

The process control chart for CRM ME-1414 in Figure 11-18 shows that the results are very close to the expected value for copper, with one result slightly greater than the + 2 SD threshold.

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Figure 11-18 Daylight CRM ME-1414 Process Control Chart (Cu = 0.22 g/t) (Source: MMTS, 2021)

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Daylight Duplicates

There are nine coarse rejects duplicates from the Daylight area in 2017. To create these duplicate samples, empty bags were submitted to the lab with a sample number (parent sample number with “D” suffix) to indicate when the lab was to take a re-split of the coarse rejects sample. Based on the lab preparing the duplicates and the sample numbering system, these duplicates were not blind to the lab.

There are too few samples for meaningful statistics on the Daylight duplicate samples. The scatter plot of the gold duplicate pairs in Figure 11-19 is shown on a logarithmic scale. It shows high correlation between the duplicate pairs, with a slight negative bias with the best fit line plotting slightly below the 1:1 line.

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Figure 11-19 Daylight Au Duplicates Scatter Plot (Source: MMTS, 2021)

The scatter plot of copper duplicate pairs in Figure 11-20 is shown on a logarithmic scale. The plot shows high correlation between the duplicate pairs and very nearly a 1:1 slope between the duplicate pairs.

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Figure 11-20 Daylight Cu Duplicates Scatter Plot (Source: MMTS, 2021)

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Kena-Gold Mountain QAQC

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Kena-Gold Mountain Blanks

80 samples of blank material are included in the Kena – Gold Mountain sample stream during 2012. The results from the blank samples are presented in Figure 11-21 and Figure 11-22 for gold and copper, respectively. Figure 11-21 shows there are 31 assay results of blank material that are higher than the 5detection limit threshold for gold. The material used for blank samples was not a certified blank material, it consisted of a decorative white garden stone purchased from a local vendor (Park and Grunenberg, 2013). A 10detection limit threshold could be considered because the blank material is not certified; however, there are still 15 samples that have assay results greater than 10*detection limit for gold. This indicates that the garden stone is not a suitable blank material for gold, and there is a possibility that contamination of gold in the sample stream may be a problem, but not a significant level.

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Figure 11-21 Kena-Gold Mountain Blanks – Au (Source: MMTS, 2021)

Figure 11-22 shows that over 97% of samples fail at 5detection limit threshold for copper, and 79% fail at 10detection limit threshold, indicating that the garden stone is not a suitable blank material for copper.

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Figure 11-22 Kena-Gold Mountain Blanks – Cu (Source: MMTS, 2021)

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Kena – Gold Mountain Certified Reference Materials

A total of 88 certified reference material (CRM) samples from the Kena-Gold Mountain area in 2012 are analyzed for gold and copper. Three CRM standards are used; however, only one CRM used is certified for copper (PM1123). A total of 28 of the 88 samples were PM1123.

The gold results for CRM samples are shown in Table 11-6 in order of decreasing grade. The results show that the mean of the assay of the high-grade gold CRM is lower than the expected value, and the mean of the assay of the mid- and low-grade gold CRM is higher than the expected value. The failure rates for all CRM samples are higher than expected. The overall error indicates higher than expected assay values. The assays preceding and following the failures are generally low, with a few mid-grade assays, indicating that the potential for contamination of gold in the sample stream is low. Park and Grunenberg (2013) report that because only one of the failed samples from each PM1123 and PM459 was in a mineralized zone, no corrective action or re-assaying was conducted. The results are considered acceptable at this level of resource estimation however, further check assays are recommended.

Table 11-6 Kena-Gold Mountain CRM Analysis Results Gold

CRM	Samples	Au EV (g/t)	Avg Au (g/t)	SD Au (g/t)	CV	Error	High Fail Au	Low Fail Au	% Fail (Au)
PM929	29	5.1	4.865	0.322	6.6%	-4.8%	0	2	6.9%
PM1123	28	1.42	1.515	0.100	6.6%	6.2%	5	0	17.9%
PM459	31	0.37	0.398	0.036	9.1%	7.0%	3	0	9.7%
Total	88					2.9			11.4

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The process control charts fort the three certified reference materials are shown in the following figures. A sample which matches the expected value (EV) will plot on the green line, and a sample exceeding the +/- 3 Standard Deviations (SD) failure threshold will plot above or below the red lines. The samples are in order of sequence by sample number.

The process control chart for gold for the CRM PM929 in Figure 11-23 shows that the gold results have a slightly low bias, with two failures below the +/- 3 SD threshold.

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Figure 11-23 Kena-Gold Mountain CRM PM929 Process Control Chart (Au = 5.1 g/t) (Source: MMTS, 2021)

The process control chart for gold for the CRM PM1123 in Figure 11-24 shows a significant positive bias, with the mean slightly higher than +2 SD threshold. There are four failures greater than the +/- 3 SD threshold.

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Figure 11-24 Kena-Gold Mountain CRM PM1123 Process Control Chart (Au = 1.42 g/t) (Source: MMTS, 2021)

The process control chart for gold for the CRM PM459 in Figure 11-25 shows a small positive bias. There are three failures greater than the +/- 3 SD threshold.

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Figure 11-25 Kena-Gold Mountain CRM PM459 Process Control Chart (Au = 0.37 g/t) (Source: MMTS, 2021)

The copper results for CRM samples are shown in Table 11-7, PM1123 is the only CRM used in 2012 that is certified for copper. The results show that the mean of the assay of the CRM samples is slightly higher than the expected value. There are no failures at the +/- 3 SD criteria, and the overall error indicates slightly higher than expected assay values. The accuracy and precision are reasonable, and the results are considered acceptable.

Table 11-7 Kena-Gold Mountain CRM Results Analysis Copper

CRM	Samples		Cu EV (%)	Avg Cu (%)	SD Cu (%)	CV	Error	High Fail Cu	Low Fail Cu	% Fail (Cu)
PM1123	28		0.31	0.312	0.010	3.1%	0.5%	0	0	0.0%

The process control chart for the CRM PM1123 for copper in Figure 11-26 shows that the copper results are close to the expected value. There are three samples outside of the +/- 2 SD threshold; however, there are no consecutive failures at that threshold, and no corrective action was required.

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Figure 11-26 Kena-Gold Mountain CRM PM1123 Process Control Chart (Cu = 0.31 %) (Source: MMTS, 2021)

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Kena-Gold Mountain Duplicates

There are 33 quarter-core field duplicates from the Kena-Gold Mountain area in 2012. There is one outlier sample that affects the statistics and plot for rest of the duplicate pairs, some variations in grade between duplicate pairs are expected in gold for this deposit type, and therefore the outlier has been removed from the data set for the statistics and presentation of the scatter plot. The results of duplicate analyses of these sample pairs are given in terms of simple statistics in Table 11-8. The statistics show that the averages and standard deviations between the two sets are slightly different for gold and very close for copper, indicating minor bias in the gold samples and little bias in copper.

Table 11-8 Kena-Gold Mountain Duplicates Simple Statistics (outlier removed)

Samples 32	Average D1	StdDev D1	Average D2	StdDev D2
Au (g/t)	0.168	0.187	0.174	0.207
Cu (%)	0.019	0.021	0.019	0.021

The scatter plot of the gold duplicate pairs in Figure 11-27 (with the outlier sample removed) is presented on a logarithmic scale. The plot shows high correlation between the two sets of duplicates, and a slight positive bias, with the best fit line plotting slightly above the 1:1 line.

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Figure 11-27

Kena-Gold Mountain Au Duplicates Scatter Plot (Source: MMTS, 2021)

The HARD plot for gold is given in Figure 11-28 and shows that approximately 60% of samples have <10% HARD, which is slightly low for field duplicates; however, some variation is expected with field duplicates for gold in this deposit type, and the results are considered acceptable.

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Figure 11-28 Kena-Gold Mountain Au 2012 Duplicates (Source: MMTS, 2021)

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The HARD Plot of the copper duplicate pairs in Figure 11-29 shows high correlation between the two sets of samples, and very nearly 1:1 slope between the duplicate pairs for copper.

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Figure 11-29 Kena-Gold Mountain Cu Duplicates Scatter Plot (Source: MMTS, 2021)

The HARD plot for copper in Figure 11-30 shows that over 85% of samples have <10% HARD, which is more than acceptable for field duplicates.

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Figure 11-30 Kena-Gold Mountain Cu 2012 Duplicates HARD Plot (Source: MMTS, 2021)

11.3 Conclusions and Recommendations

After analysis of the sampling and QAQC program provided at the properties in the Kena Project, the QP concludes that:

The history of sampling and security programs are deemed appropriate for each era of exploration.
The QAQC programs employed during 2012 and 2017 are below the normal requirements for resource estimation. It is recommended that a higher ratio of QAQC samples should be used in future sampling programs and should comprise approximately 15% of the total assays sampled.
The local rock and garden stone used as blank materials in 2012 and 2017 have a high failure rate and are not suitable blank materials. Certified blank materials should be used for QAQC sampling.
• Two of the three gold CRM samples inserted into the sample streams in 2012 indicate there may a high bias in the gold assays, however the number of samples is small, and sometimes there are issues with the CRM materials. Additional check assay programs are recommended including QAQC samples.
There are no QAQC samples in drilling in the Copper Zone. Check assays with QAQC is recommended for the Copper Zone.

The QAQC is adequate for resource estimation at this time, but it is recommended improvements are made for future studies.

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Data Verification

12.1 Site Visit

The QP visited the Kena Project site on 26-28 January 2021 and was toured the property by Jack Denny, a private landowner who is familiar with the project and provides core storage facilities. During the visit locations were confirmed for seven drilling pads with one drillhole each in the Gold Mountain area, six clearings with a total of 12-14 drillholes in the Kena area, and the Discovery Trench. Approximate locations of the drillholes were confirmed with a handheld GPS device. It was not possible to observe drill collars due to snow conditions at the time. Drilling and sampling protocol was reviewed, and the core boxes in the storage facility were observed. Sampling of twelve drill core specimens were bagged, tagged, and sealed for delivery to ACTLabs in Kamloops.

12.2 Data Audit

The QP received the assay Kena assay database from Perry Grunenberg, and the Daylight assay database from Jarrod Brown of TerraLogic in December of 2020.

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Corrections to Database

The QP noted the following issues in the database. Any corrections that have been applied are described below.

Many assay intervals were missing sample IDs in the database, while most certificates only contained sample IDs. Without a sample ID many intervals could not be checked against certificates. Many sample IDs were available in historic reports and were added to the database where the sample ID was previously blank.
Certificate IDs were not previously tracked in the database. Certificate IDs were entered for all assays that certificates are available in the drilling reports. The primary laboratory, now Bureau Veritas, was also contacted and was able to provide some certificates. Assays that are missing certificates are flagged in the database.
Inconsistent use of lab repeats assay results (lab duplicates and triplicates). Sometimes first result, sometimes highest, sometimes middle result, sometimes average of results. – no changes made.
Inconsistent use of total metallics assay result if/when that assay method was conducted in addition to ICP/Fire Assay. – no changes are made.
All assays below detection limit in the 2017 Daylight drilling had “0” values entered rather than half detection limit. These were corrected to half of detection limit results.
A number of assays, generally from 2000-2002 that are below detection limit are entered in the database as the detection limit. This is possibly a result of rounding (i.e. DL= 0.01, 1/2DL = 0.005) but some parts of the database may have been rounded to 2 decimal places at some point, so 0.005 appears as 0.01.
Many blank assays in the database for copper and silver assays that exist on certificates. This is noted as a future opportunity to complete the database.
Any Cu assay values that were missing from Copper Zone drillholes were added to the database from certificates.

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Certificate Checks

A total of 2,284 assays, or 14.4% of assays in the database, were checked against certificates to verify assays for gold. Errors were found in gold results for 27 assay intervals, 0.96% of assays checked. Of the errors identified, 63% have less than 0.1 g/t difference from the correct value.

A total of 189 assays, or 2.2% of copper assay intervals in the database, were checked against certificates to verify assays of copper. No errors were found.

During the certificate checks, and identifying which assay intervals have certificates, the QP identified a total of 4,070 intervals that are missing certificates, equal to 20.8% of the database, the distribution of missing certificates by resource area and year is presented in Table 12-1.

The reasons for missing certificates include:

Missing pages in BC Geological Survey Assessment Reports,
Assessment Reports that were filed before the completion of a drill program, or before all assay results were back from the lab,
Incomplete records in the Assessment Reports.

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Table 12-1 Summary of Missing Certificates

Zone		Cu Zone	Cu Zone		Daylight	Daylight	Great Eastern & Western	Great Eastern & Western	Great Eastern & Western	Kena-Gold Mountain	Kena-Gold Mountain	Kena-Gold Mountain		All Zones	All Zones

Year	# Assays	# No Cert	% Missing Cert	# Assays	# No Cert	% Missing Cert	# Assays	# No Cert	% Missing Cert	# Assays	# No Cert	% Missing Cert	Total # Assays	Total # No Cert	Total % Missing Cert
1974										78	78	100.0%	78	78	100.0%
1981	185	125	67.6%							305	203	66.6%	490	328	66.9%
1985	29	15	51.7%							708	578	81.6%	737	593	80.5%
1986										1,868	562	30.1%	1,868	562	30.1%
1987	89	1	1.1%							393	6	1.5%	482	7	1.5%
1988										301	228	75.7%	301	228	75.7%
1990	408	0	0.0%							1,212	849	70.0%	1,620	849	52.4%
1991	476	115	24.2%							234	194	82.9%	710	309	43.5%
2001										2,412	1	0.0%	2,412	1	0.0%
2002	360	23	6.4%	401	98	24.4%	270	18	6.7%	3,267	664	20.3%	4,298	803	18.7%
2003										551	0	0.0%	551	0	0.0%
2004										323	157	48.6%	323	157	48.6%
2007										278	0	0.0%	278	0	0.0%
2010	373	0	0.0%							446	155	34.8%	819	155	18.9%
2012										2,936	0	0.0%	2,936	0	0.0%
2017				1,138	0	0.0%	572	0	0.0%				1,710	0	0.0%
Grand Total	1,920	279	14.5%	1,539	98	6.4%	842	18	2.1%	15,312	3,675	24.0%	19,613	4,070	20.8%

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12.3 Check Assays

The analyses of four series of check assay samples are presented here. In 2021 twelve core samples were collected by S. Bird, P. Eng. at site and the results are acceptable. In 2001-2002, 111 coarse rejects were sent to Chemex for check assays and 84 samples were re-assayed at Acme, the results of both sets show a potential high bias in the original assay samples. In 1990, 38 coarse reject samples were sent to Chemex as check assays for both gold and copper from the Copper Zone and the analysis shows acceptable results.

Check assays in 2007 and 2010 are reported in the drilling reports, however, because no certificates are found, the QP is not considering these series. The QP recommends further check assay to validate historic data be conducted.

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2021 Core Duplicates

A set of twelve core samples was selected from the core boxes stored on pallets on a private property in Salmo, BC. by S. Bird, P.Eng. on 28 January 2021. Samples were selected from drillholes to represent varying grades and locations. The samples were processed at ActLabs in Kamloops, BC, by fire assay with AA finish, and gravimetric finish for samples with initial assay results over 5.0g/t. The selected samples are presented in Table 12-2 which shows drillhole, interval and sample numbers and assay values as well as the average and standard deviation of each assay sample set. The mean values are quite close with a relative difference of 3%.

Table 12-2 2021 Check Assays Sample List

Hole ID	Year	From (m)	To (m)	Sample ID	Database Au g/t	2021 ActLabs Aug/t
01GM-03	2001	40	42	03040	4.99	5.69
01GM-05	2001	134	136	05134	5.43	6.00
01GM-08	2001	202	204	08202	8.89	9.78
01GM-12	2001	70	72	12070	0.44	0.37
02KG-01	2002	41	43	180521	0.74	0.574
02KG-01	2002	43	45	180522	1.29	0.954
02KG-01	2002	88	90	180546	0.55	0.435
02KG-01	2002	113	115	180559	1.34	1.24
03KG-08	2003	43	45	175519	0.52	0.549
03KG-08	2003	45	47	175520	1.00	1.01
10HG-05	2010	67.4	68.4	976740	1.059	0.783
10HG-05	2010	68.4	69.4	976741	0.795	0.487
Average Aug/t					2.254	2.323
Standard Deviation Aug/t					2.697	3.083

The results are presented in the scatter plot in Figure 12-1 and show good correlation along a straight line with a slope slightly above the 1:1 line. The slope of the best fit line above 1 indicates the trend of 2021 assays is approximately 10% higher than the historic assays, however, this is highly influenced by the values above 2g/t. For values below 2g/t the database assay values are seen to be higher than the 2021

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check assay results, resulting in the mean values being very close. The results do not show significant bias and are considered acceptable for drill core duplicate assays considering the “nuggety” nature of gold.

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Figure 12-1 Kena-Gold Mountain 2021 Check Assays (Source: MMTS, 2021)

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2001-2002 Data Verification Check Assays

No QAQC samples were included in the 2001 and 2002 drilling. It was reported that for data verification purposes, one sample in 10 was given a random number and resubmitted to ACME, and about one sample in 20 was submitted to Chemex labs in Vancouver, BC for comparison (Dandy 26699, 2001). The reports do not explicitly state what kind of samples they are, coarse rejects or pulp duplicates. The QP reviewed the drilling reports and located certificates for check assays and finds the numbers as reported in Table 12-3, the sampling rate appears to be much lower, ranging from one in 50 to one in 90.

Table 12-3

2001-2002 Check and Re-Assays

Year	Chemex Check Assays	Acme Re- Assays	Total Assay Samples
2001	50	38	2,412
2002	61	47	4,298
Total	111	85	6,710

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2001-2002 Check Assays Chemex

A summary of the 111 check assays submitted to Chemex in years 2001-2002 is presented in Table 12-4. Because the sample sizes for the Copper Zone, Daylight and Great Eastern/Great Western are so small, ranging from 3 to 8 samples, any significant differences between the means of the gold grades are not concerning. The mean of the gold grades in Kena-Gold Mountain in the ACME database values are slightly above the Chemex check assays (Figure 12-2).

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Table 12-4 2001-2002 Chemex Check Assays by Area

Area	Samples	ACME Avg Au(g/t)	Chemex Avg Aug/t	ACME Std Dev Au(g/t)	Chemex Std Dev Aug/t
Cu Zone	3	0.403	0.293	0.474	0.282
Daylight	4	3.503	1.155	5.166	1.610
Great East-West	8	2.829	2.398	4.188	3.684
Kena-GM	96	2.143	2.070	3.417	3.713
Total	111	2.195	2.004	3.480	3.588

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Figure 12-2 2001-2002 Chemex Check Assays Kena-Gold Mountain Au (Source: MMTS, 2021)

The HARD plot of the duplicate pairs is shown inFigure 12-3, and give 58% less than 10% HARD which is less than expected for coarse duplicates. Because the nature of gold mineralization is “nuggety”, and there does not appear to be significant bias to the ACME results, these duplicate results are considered acceptable at this level of resource estimation, however the QP recommends that future validation studies of the 2001 and 2002 historic data be conducted.

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Figure 12-3 2001-2002 Chemex Check Assays HARD Plot Kena-Gold Mountain Au (Source: MMTS, 2021)

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2001-2002 Acme Re-assays

Of the 85 assay samples re-assayed by ACME in 2001-2002, one was not in a resource area, one had a mismatched interval, and one is a significant outlier. The summary and statistics of the remaining 82 duplicate analyses at ACME are given in Table 12-5. Because the number of samples in the Copper Zone, Daylight and Great Eastern/Great Western range between only 2 to 8, any significant differences between the means of the gold grades are not concerning. The mean of the Kena-Gold Mountain results gives a relative difference of 6%, indicating a small positive bias to the database values.

Table 12-5 ACME 2001-2002 Re-Assays

Area	Samples	Average of Au(g/t)	Average of Re- Assay Aug/t	Std Dev of Au(g/t)	Std Dev of Re- Assay Aug/t
Cu Zone	5	0.158	0.180	0.122	0.133
Daylight	2	0.310	0.320	0.057	0.071
Great East-West	8	1.228	0.853	0.743	0.517
Kena-GM	67	1.204	1.131	1.746	1.727
Total	82	1.121	1.026	1.617	1.588

A scatter plot of the Re-assays in Kena-Gold Mountain is given in Figure 12-4. The best fit line shows an acceptable R-Squared value and the slope plots slightly below the 1:1 line confirming the slightly higher values in the original assays seen in the means. The QP find the results of the check assays acceptable at this level of resource estimation and recommends further validation of the 2001-2001 assays.

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Figure 12-4 2001-2002 ACME Re-Assays Scatter Plot (Source: MMTS, 2021)

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1990 Chemex Check Assays – Copper Zone

In 1990, 38 coarse reject samples were sent to Chemex as check assays for both gold and copper from the Copper Zone. The simple statistics of the 38 duplicate pairs are presented in Table 12-6 and shows the means of the Chemex assay to be slightly higher for gold and slightly lower for copper.

Table 12-6 1990 Chemex Check Assays Statistics – Copper Zone

Statistic	ACME Au(g/t)	Chemex Aug/t	ACME Cu(pct)	Chemex Cu(pct)
Average	0.163	0.187	0.274	0.269
Standard Deviation	0.084	0.109	0.127	0.121

The scatter plot of gold assay duplicate pairs is given in Figure 12-5. The best fit line shows a marginal R- Squared indicating poor correlation, and a slope above the 1:1 line indicating the Chemex re-assay are higher than the ACME assays, confirming the results seen in the means.

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Figure 12-5 1990 Chemex Check Assays Gold (Source: MMTS, 2021)

The scatter plot for copper is given in Figure 12-6 and shows good correlation between the pairs with an R-Squared value of 0.9807 and a slope slightly lower than 1.0. The slightly lower slope indicates the original ACME results are slightly higher than the check assays, but not significantly biased.

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Figure 12-6 1990 Chemex Check Assays Copper (Source: MMTS, 2021)

12.4 Conclusions and Recommendations

The QP concludes that the site visit, data audit and check assays to confirm that the resource database is adequate for resource estimation at this level. Concerns include a significant portion (20%) of the database is missing certificates, certificates of historic check assays from data verification programs are missing, and potential bias is seen in the 2001-2002 check assays. The QP recommends the following:

Further check assays be conducted to include 5-10% of samples from every year that core or samples are available and include QAQC samples.
The assay database be amended to include silver and copper for all available samples.

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Mineral Processing and Metallurgical Testing

Apex has not performed any metallurgical testwork. The results from a preliminary study of GMZ mineralization was done by Newmont Mining Corporation (Newmont), as summarized below.

Two composite samples, created from two separate continuous eight-meter intervals from drillhole 01GM-02, contained gold concentrations of 1.15-2.87 g/t and approximately 1.5 g/t, respectively. Repeat assays returned widely variable results due to the presence of free gold. The composites also contained 2.5-2.6% sulphide sulphur that corresponded to approximately 5% pyrite.

Bottle roll cyanidation and carbon-in-leach (CIL) test results indicated that the gold in the composite samples was not refractory and is cyanide leachable to the extent of 92 to 97% in 24 hours.

Gravity test results, which involved passing a 100% minus 48-mesh particle size across a Gemeni table and hand panning the concentrates, gave gold recoveries of 36.1 to 43.2%

Another major mining company collected a sample from the upper portion of drillhole 01GM-03 and sent to McClelland Laboratories Inc. (McClelland) in Sparks, Nevada (Giroux, 2013). Gold recoveries were investigated by preliminary agitated cyanidation leach testing (bottle roll) on a ½ inch (“) crush of the sample.

Table 13-1 Results of Bottle Roll Test on 01GM03

Metallurgical Results	01GM03-31-48, P80 ½” Feed Size
Extraction: pct. Total Au	P801/2”
In 2 hours	20.4
In 6 hours	29.6
In 24 hours	42.1
In 48 hours	49.6
In 72 hours	52.5
In 96 hours	57.1
Extracted, ozAu/ton ore	0.016
Tail Assay, ozAu/ton1)	0.012
Calculated Head, ozAu/ton ore	0.028
Assayed Head, ozAu/ton ore2	0.027
NaCN Consumed, lb/ton ore	0.15
Lime Added, lb/ton ore	3.2
Final pH	11
Natural pH (40% solids)	7.8
Ag Extracted, ozAg/ton ore	0.01
Ag Tail, ozAg/ton ore1)	<0.03
Ag Calculated Head, ozAg/ton ore2)	<0.04
Ag Recovery, percent	>25
Ag Assayed Head, ozAg/ton ore1)	0.38
1Average of triplicate tail assays 2Single head assay

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The results of this bottle roll test indicate that GMZ rock is amenable to cyanidation treatment at the ½” feed size. Based on the rate of extraction between 24 and 96 hours, McClelland concluded a gold recovery of 70% could be achieved with an additional 72 hours of leaching. The results also show that cyanide consumption rates are reasonably low.

There has been no new metallurgical test work on properties within the Kena Project. An 88% recovery of Au is used to determine an appropriate cut-off grade.

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Mineral Resource Estimates

The Mineral Resource estimate has an effective date of April 7, 2021 and is an update to the previous resource estimate of the 2013 Kena Gold deposit (Giroux, 2004). The resource estimate was prepared by Sue Bird, P.Eng., of MMTS.

14.1 Kena Mineral Resource

The Mineral Resource statement for the Kena deposit with an effective date of April 7, 2021 is listed in Table 14-1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Mineral Resources were estimated using the 2019 CIM Best Practice Guidelines and are reported using the 2014 CIM Definition Standards.

Ordinary Kriging (OK) has been used for Au estimation with capping and outlier restriction implemented to reduce the effect of high-grade outliers and reduce the coefficient of variation (C.V.).

The base case cut-off grade within the “reasonable prospects of eventual economic extraction” constraining pit is 0.25 g/t gold (Au), as highlighted in Table 14-1. Table 14-1 is the total deposit resource and includes a range of Au cut-off grades to show the sensitivity of the resource estimate to variations in cut-off grade. At a 0.25 g/t Au cut-off, the total Indicated Mineral Resource is estimated at 32.1 Mt at 0.544 g/t Au, for a total of 562 Koz of gold. Table 14-2 through Table 14-4 summarize the resource by deposit areas as Kena Gold, Gold Mountain and Daylight, respectively.

Table 14-1 Kena Mineral Resource Estimate – Total Project

Class	Cut-off	Tonnage	Au	NSR	Au Metal
	Au(gpt)	(ktonnes)	(gpt)	(CDN$)	(Koz)
Indicated	0.1 0.15 0.2	44,006 41,895 37,663	0.449 0.465 0.497	34.51 35.69 38.09	635 625.7 602.0
	0.25	32,146	0.544	41.48	561.9
	0.3 0.5 1	26,274 11,863 2,662	0.604 0.869 1.526	45.78 65.92 113.34	510.2 331.4 130.6
Inferred	0.1 0.15 0.2	348,491 281,957 223,301	0.330 0.378 0.432	23.78 27.59 31.56	3,697 3,428.2 3,103.0
	0.25	177,508	0.486	35.57	2,773.1
	0.3 0.5 1	135,814 53,060 9,136	0.552 0.813 1.588	40.83 61.33 115.44	2,410.1 1,386.7 466.4

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Table 14-2 Kena Mineral Resource Estimate – Kena Gold Deposit

Class	Cut-off	Tonnage	Au	NSR	Au
	AuEq (gpt)	(ktonnes)	(gpt)	(CDN$)	(Koz)
Indicated	0.1 0.15 0.2	26,981 25,558 22,674	0.410 0.425 0.457	31.91 33.05 35.36	355.3 349.3 333.1
	0.25	18,935	0.503	38.67	305.9
	0.3 0.5 1	14,942 6,374 1,095	0.564 0.806 1.464	42.95 61.81 108.56	270.8 165.2 51.5
Inferred	0.1 0.15 0.2	93,884 81,380 64,885	0.346 0.380 0.433	23.56 26.97 30.81	1,045.3 995.0 903.7
	0.25	52,411	0.483	34.60	813.5
	0.3 0.5 1	42,791 18,040 1,599	0.530 0.734 1.629	39.26 57.74 113.14	728.9 425.7 83.7

Table 14-3 Kena Mineral Resource Estimate – Gold Mountain Deposit

Class	Cut-off	Tonnage	Au	NSR	Au
	AuEq (gpt)	(ktonnes)	(gpt)	(CDN$)	(Koz)
Indicated	0.1 0.15 0.2	17,006 16,317 14,969	0.510 0.526 0.558	36.30 37.44 39.70	279.0 276.2 268.6
	0.25	13,202	0.603	42.86	255.8
	0.3 0.5 1	11,323 5,480 1,567	0.657 0.942 1.570	46.73 67.01 111.66	239.2 166.0 79.1
Inferred	0.1 0.15 0.2	247,586 195,335 154,439	0.325 0.378 0.432	23.08 26.87 30.74	2,583.0 2,372.6 2,145.5
	0.25	122,381	0.487	34.62	1,915.4
	0.3 0.5 1	91,152 34,298 7,188	0.561 0.851 1.592	39.90 60.51 113.27	1,644.1 938.0 368.0

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Table 14-4

Kena Mineral Resource Estimate – Daylight Deposit

Class	Cut-off	Tonnage	Au	NSR	Au Metal
	AuEq (gpt)	(ktonnes)	(gpt)	(CDN$)	(Koz)
Inferred	0.1 0.15 0.2	817 799 679	0.594 0.605 0.680	42.22 43.00 48.38	15.6 15.5 14.8
	0.25	626	0.719	51.12	14.5
	0.3 0.5 1	568 337 203	0.765 1.028 1.230	54.38 73.13 87.48	14.0 11.1 8.0

Notes for Table 14-1 through 14-4:

1. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines.

2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

3. The Mineral Resource has been confined by a “reasonable prospects of eventual economic extraction” pit using the following assumptions: 125% pit case using an Au price of US$1600/oz at a currency exchange rate of 0.77 US$ per $CDN; 99.95% payable Au, 96.5% payable Cu; $4.30/oz Au offsite costs (refining, transport, and insurance), 0.467 Cu offsite; a 3% NSR royalty; and uses an 88% metallurgical recovery for gold.

4. Pit slope angles are assumed at 45º.

5. The specific gravity of the deposit has been assigned as 2.8 based on sg measurements in the Kena deposit

6. Numbers may not add due to rounding.

14.2 Key Assumptions and Data used in the Estimate

The total sample database contains results from 203 core holes and 4 percussion holes from 1974 totalling 31,414.7m. The 1974 percussion holes were not used for the resource estimate. A summary of the drillholes within the Kena block model and used for interpolation is provided in Table 14-5. Figure 14-1 is a plan map showing the drillhole traces, the claims boundaries, and the resource pit shape.

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Table 14-5 Summary of Drillhole and Assays used in the Kena Resource Estimate

Year		Kena-GM	Kena-GM		Daylight	Daylight		Great East-West	Great East-West		Cu Zone	Cu Zone		Total
	DHs	Total Length (m)	Interval Length (m)	DHs	Total Length (m)	Interval Length (m)	DHs	Total Length (m)	Interval Length (m)	DHs	Total Length (m)	Interval Length (m)	DHs	Total Length (m)	Interval Length (m)
1974	4	249.94	236.22										4	249.94	236.22
1981	3	528.50	486.50							3	635.70	550.20	6	1,164.20	1,036.70
1985	12	1,269.78	1,219.43							1	49.07	46.02	13	1,318.85	1,265.45
1986	22	3,128.75	2,969.18										22	3,128.75	2,969.18
1987	5	750.08	715.45							1	168.90	157.81	6	918.98	873.26
1988	6	886.22	475.69										6	886.22	475.69
1990	8	1,963.60	1,820.46							2	747.10	615.40	10	2,710.70	2,435.86
1991	1	351.43	342.29							2	723.76	233.07	3	1,075.19	575.36
2001	29	4,901.10	4,759.91										29	4,901.10	4,759.91
2002	42	6,765.35	6,368.14	6	868.37	742.61	5	711.41	488.60	4	1,065.33	672.33	57	9,410.46	8,271.68
2003	22	1,086.73	1,043.59										22	1,086.73	1,043.59
2004	4	613.26	598.90										4	613.26	598.90
2007	1	547.73	543.20										1	547.73	543.20
2010	7	845.24	807.60							3	740.05	726.97	10	1,585.29	1,534.57
2012	41	7,527.02	7,315.69										41	7,527.02	7,315.69
2017				12	1,669.71	1,432.90	6	1,025.06	875.76				18	2,694.77	2,308.66
Total	207	31,414.73	29,702.25	18	2,538.08	2,175.51	11	1,736.47	1,364.36	16	4,129.91	30,01.80	252	39,819.19	36,243.92

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Figure 14-1 Drillhole Traces used in the Resource Estimate by Year

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14.3 Geologic Modelling

The lithology, alteration and structural models had been previously interpreted by geologist working for Apex and Altair (see Sections 7 and 9 of this report). The main Kena-Gold Mountain zones is a shear hosted deposit associated with the Silver King Shear at the contact of the Silver King Intrusive and the Elise volcanics on the eastern arm of the Hall Creek syncline. The Cu Zone is an extension of the Kena-Gold Mountain trend and is considered to have porphyry style mineralization with elevated Au and Cu grades. The Daylight, Great Eastern and Great Western mineralization lies on the western arm of the Hall Creek syncline. The Daylight deposit is vein hosted within the lower Elise volcanics, with elevated Au grades over a true width of approximately 50m and has been mapped over an extent of approximately 3.3km. The Great Eastern and Great Western mineralization is more disseminated than the Daylight. The Cu zone and Great Eastern and Great Western zones, although they have been modelled, are not considered part of the current Resource due to the drill spacing and lack of geologic controls. Figure 14-2 below plots the simplified logged lithology illustrating the Silver King and Elise Volcanic contact on each side of the syncline.

The domains used in the interpolations have been created using implicit modelling (IM) which considers the structural and lithologic interpretations as well as the Au and Cu grades in the assayed drillholes. The overburden surface was created using logging provided by site. The domains and interpolation were clipped to the bottom of the overburden surface, and the resource is calculated based on the percentage of the block below the overburden and within the wireframe. Figure 14-3 illustrates the domains used for interpolation. Figure 14-4 illustrates the Daylight and Great Eastern / Great Western wireframes and the mapped Au soil anomalies as well as the Daylight vein trace illustrating close matching of the mapping with the wireframes used. Soil anomalies corresponding to the wireframes are also provided in Figure 9- 1 and Figure 9-2 for the Kena and Daylight properties, respectively.

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Figure 14-2 Simplified Logged Drillhole Lithology

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Figure 14-3 Domains used for Interpolation

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Figure 14-4 Domains used for Interpolation and Trace of Daylight Vein (red) (Source: MMTS, 2021)

14.4 Assay Statistics and Capping

The assay statistics were examined using boxplots, histograms, and cumulative probability plots (CPPs). Figure 14-5 and Figure 14-6 are examples of the CPPs for the Kena and Gold Mountain areas, respectively. The areas were divided into domains for the implementation of capping using cut-offs of 0.1gpt Au for low grade (LG), 0.3gpt Au for higher grade (HG) and below the 0.1gpt cut-off as a background domain. These high grade, mid-grade and background grade zones correspond roughly to the Silver King intrusives,

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the zone proximal to the intrusive contact with the underlying Elise volcanics, and the zone distal to the contact, respectively.

The capping values for each area and “lithology domain” is summarized in Table 14-6. Assay statistics for the capped gold grades are summarized in Table 14-7, illustrating that composited grades equal assay grade and therefore compositing has not introduced a bias. Also illustrated is that the grade distribution is generally lognormal, and the coefficient of Variation (C.V.) is equal to or below 2.0, meaning that interpolation by linear methods is generally acceptable.

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Figure 14-5 CPP of Au Assay Grades by Capping Domain – Kena Zone (Source: MMTS, 2021)

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Figure 14-6 CPP of Au Assay Grades by Capping Domain – Gold Mountain Zone (Source: MMTS, 2021)

Table 14-6 Summary of Capping by Area and Capping Domain

				CAP VALUE	CAP VALUE
Final Domain #	AREA	Capping Code	Capping Domain	AU	CU%
1	KENA	11 12 15	HG LG Background	20.0 1.5 0.5	na na na
1	GOLD MTN	21 22 25	HG LG Background	40.0 3.0 0.6	na na na
2	CU ZONE	31 32 35	HG LG Background	5.0 0.4 0.3	1.0 0.5 0.3
3,4	DAYLIGHT	41 42 45	HG LG Background	20.0 0.5 10.0	na na na

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Table 14-7 Summary Statistics of Capped Assays and Composites

Source	Parameter		Au by Final Domain	Au by Final Domain		Cu
		1	2	3	4	2
Assays	Num Samples Num Missing Min (gpt) Max (gpt) Wtd. Mean (gpt) Weighted CV	13,722 0 0 40 0.417 2.937	1,161 0 0 5 0.132 2.149	923 0 0 20 0.264 3.518	564 0 0 10 0.206 3.713	1,161 0 0 1 0.098 1.026
Composites	Num Samples Num Missing Samples Min (gpt) Max (gpt) Wtd. Mean (gpt) Weighted CV	5,132 0 0 17.481 0.417 1.915	428 0 0 4.487 0.132 1.873	279 0 0 3.732 0.264 1.747	130 0 0.002 2.934 0.206 2.063	428 0 0 0.476 0.098 0.885
Difference Wtd. Mean		0.0%	0.0%	0.0%	0.0%	0.0%

Note: Num = number, wtd = weighted, CV = co-efficient of variation.

14.5 Compositing

Assay sample lengths varied across the drill programs but are generally between 1.0 and 3.0m. A histogram of the assay intervals is shown in Figure 14-7, illustrating that the majority are 5m or less. A base composite length of 5.0m was used to ensure assay sample splits are minimized, as well as to reduce the Cv and align with potential selective mining unit. Assay data were coded with a domain value prior to compositing. The domain code was honoured during compositing. Any interval within a domain that was less than 2.5m was composited with the interval above it.

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Figure 14-7 Histogram of Assay Lengths (Source: MMTS, 2021)

14.6 Density Assignment

Model blocks were assigned the mean specific gravity of 2.8 which is the mean of all the sg values with outliers removed. Specific gravity has been measured using Archimedes principle. Measurements were only made in the Kena and Gold Mountain zones and consisted of 65 measurements within the Silver King porphyry and Elise volcanics.

14.7 Block Model Interpolations

The block model uses 20 x20 x 10m blocks with the extents of the model summarized in Table 14-8. This block size has been chosen based on the expected Selective Mining Unit (SMU). The average drillhole spacing ranges from 10m to 90m, with the mean drillholes spacing for the Indicated resource at about 3035m suggesting that the block size used is appropriate.

MineSight[©] software was used for geostatistical investigations and interpolations, as well as for the “reasonable prospects of eventual economic extraction” pit and to generate the resource statement.

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Table 14-8 Summary of Block Model Extents

	Easting	North	Elev
Minimum Maximum	0 3500	0 7800	800 2140
Hinge point:	481500	5470220	800
Rotation	-45 (ccw from north)

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Variography

Correlograms were created for each domain for gold and for both gold and copper for the Cu Zone as summarized in Table 14-9. And example of the variogram model for the strike direction of the Kena-Gold Mountain domain is illustrated in Figure 14-8. Correlogram parameters are summarized in Table 14-10 with Search distances provided in Table 14-11.

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Figure 14-8 Variogram for the Kena – Gold Mountain Domain along Strike

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Table 14-9 Summary of Orientations for Interpolation

	AREA	Domain	Rotation (GSLIB-MS)	Rotation (GSLIB-MS)
Au	Kena and Gold Mountain	1	ROT DIPN DIPE	295 0 70
Au	Cu zone	2	ROT DIPN DIPE	310 0 85
Cu	Cu zone	2	ROT DIPN DIPE	310 0 85
Au	Great Eastern/Great Western	3	ROT DIPN DIPE	0 0 25
Au	Daylight	4	ROT DIPN DIPE	305 0 65

Table 14-10 Summary of Correlogram Parameters

	AREA	Domain	Total Range (m)	Nugget	Sill1	Sill2	Sill3	Axis	Range 1 (m)	Range 2 (m)	Range 3 (m)
Au	Kena and Gold Mountain	1	150 150 65	0.2	0.6	0.15	0.05	Major Minor Vert	8 35 10	25 65 35	150 150 65
Au	Cu zone	2	80 90 10	0.2	0.5	0.3		Major Minor Vert	10 25 5	80 90 10
Cu	Cu zone	2	130 110 120	0.2	0.6	0.2		Major Minor Vert	50 55 35	130 110 120
Au	Great Eastern and Western	3	30 90 45	0.2	0.6	0.2		Major Minor Vert	10 40 20	30 90 45
Au	Daylight	4	30 90 45	0.2	0.6	0.2		Major Minor Vert	10 40 20	30 90 45

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Table 14-11 Search Parameters for Au and Cu

		Search Distances(m)	Search Distances(m)	Search Distances(m)	Search Distances(m)
AREA	Domain	Pass 1	Pass 2	Pass 3	Pass 4
Kena and Gold Mountain	1	8 35 10	45 45 20	150 150 65	180 180 78
CU Zone-AU	2	10 25 10	20 50 15	80 90 10	96 108 12
Cu zone	2	39 39 10	100 110 15	130 130 120	156 156 144
Daylight	3	10 10 5	20 20 10	30 30 10	60 60 20
Daylight	4	10 10 5	20 20 10	30 30 10	60 60 20

Additional search criteria sample selection is provided in Table 14-12.

Table 14-12 Additional Search Criteria

Domains	Parameter	Pass 1	Pass 2	Pass 3	Pass4
All	Min # Comps	3	3	3	3
	Max # Comps	15	12	12	12
	Max / Hole	4	4	4	2
	Max / Quad	2	2	2	n/a

14.8 Classification of Mineral Resources

Blocks were assigned preliminary classifications based on the average distances to at least two drillholes to be less than 30m. Two solids in constrained areas of the Kena Gold and Gold Mountain area were defined based on this criterium. Blocks within this solid, are classified as Indicated. The distance of 30m is based on the R80 value from the variography; as the range at approximately 80% of the sill. All other blocks that have an interpolated Au grade within the Kena and Daylight deposits are defined as Inferred. Blocks within the Cu zone and Great Eastern and Great Western deposits are un-classed and not included in the final resource estimate. Figure 14-9 is a plan view of the final block classification the drillhole density showing the pit outlines for reference.

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Figure 14-9 Plan View of the Classification, the Drill Pattern, and the Resource Pit (Source, MMTS, 2021)

Model Validation

The capping, modelling methods, and search parameters were chosen so that the final interpolated grades closely match the de-clustered composite data (using a nearest-neighbour or NN model) while showing appropriate smoothing.

To perform appropriate validations, a NN model was created to compare the de-clustered composites to the modelled grades. To validate the amount of smoothing in the model, the NN model was corrected

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for block size using an indirect lognormal theoretical correction, based on the global variogram parameters and mean grades for each domain.

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Global Grade Validation

Resource validation to ensure there was no global bias compared NN grades to those of the final grade interpolation at zero cut-off. Table 14-13 summarizes this comparison by domain, illustrating that the difference in gold grades by domain is within % overall. For copper, the comparison shows mean modelled grades within % for all domains.

Table 14-13 Summary of Model Grade Comparison with De-Clustered Composites by Domain

Model	Cut-off AuEq (gpt)	OK Model	OK Model	OK Model	NN Model	NN Model	NN Model	Diff (%)	Diff (%)	Diff (%)
		Tonnage	Au	Au Metal	Tonnage	Au	Au Metal		erence

		(ktonnes)	(gpt)	(Koz)	(ktonnes)	(gpt)	(Koz)	Tonnage	Au	Au Metal
Total	0.1 0.15 0.2	386,273 319,389 257,646	0.345 0.390 0.443	4,278 4,009 3,666	354,868 282,039 231,694	0.377 0.442 0.501	4,304 4,012 3,731	8.1% 11.7% 10.1%	-9.5% -13.3% -13.1%	-0.6% -0.1% -1.8%
	0.25	207,553	0.495	3,305	174,671	0.591	3,318	15.8%	-19.3%	-0.4%
	0.3 0.5 1	160,776 64,529 11,652	0.560 0.822 1.576	2,897 1,706 590	139,523 71,980 19,664	0.672 0.943 1.712	3,013 2,183 1,082	13.2% -11.5% -68.8%	-19.9% -14.7% -8.6%	-4.0% -27.9% -83.3%

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Grade-Tonnage Curves

Grade–tonnage curves were created to compare the Au and Cu (in the Cu zone only) interpolated grades with de-clustered composite grades. Figure 14-10 through Figure 14-12 illustrate this comparison for gold and silver respectively, showing increased smoothing (reduced grades and increased tonnage) compared to the uncorrected NN grade curves, but a similar distribution compared to the theoretical NN-ILC grades.

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Figure 14-10 Grade-Tonnage Curve Comparison for Au – MI within the Resource Pit – Kena Gold (Source: MMTS, 2021)

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Figure 14-11 Grade-Tonnage Curve Comparison for Au – MI within the Resource Pit – Gold Zone (Source: MMTS, 2021)

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Figure 14-12 Grade-Tonnage Curve Comparison for Cu – MI within the Resource Pit - Daylight Vein (Source: MMTS, 2021)

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Visual Comparisons

Further validation on local grade estimation has been done through visual comparisons of the modelled grades with the assay and composite grades in section, plan and through three-dimensional checks. Figure 14-13 to Figure 14-15 illustrate the block grades and composite grades in east-west cross-sections for each deposit within the resource. Ok grades show similar grade distributions and values throughout the model to that of the drillhole data. On all sections, the drillhole data shown is ±30m of the section.

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Figure 14-13 Au Grade - Model Compared to Assays (+/- 30m) looking – Kena Gold (Source: MMTS, 2021)

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Figure 14-14 Au Grade - Model Compared to Assays (+/- 30m) – Gold Mountain (Source: MMTS, 2021)

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Figure 14-15 Au Grade - Model Compared to Assays (+/- 50m) – Daylight (Source: MMTS, 2021)

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14.9 Reasonable Prospects of Eventual Economic Extraction

An open pit created using Lerchs–Grossmann (LG) pit optimization has been done on a series of pits with varying price assumptions. The L-G pit is limited by the claim boundary and the pit slopes are assumed to be 45[] . The base case price, costs, smelter terms, foreign exchange and recoveries are summarized in Table 14-14. A base case price of US$1600/oz is considered appropriate because it is approximately the 3-year trailing average Au price, commonly used for mine planning purposes (Kitco, 2021).

Table 14-14 Summary of Base Case Economic Inputs

Parameter	Value	Units
Gold Price Cu Price Silver Price Forex Gold Payable Cu payable Silver Payable Gold Offsites -refining Cu Offsite - Transportaion-10% price Silver Offsites Royalty	$1,600.00 $3.50 $0.00 0.77 99.95% 96.5% 0.0% 4.30 0.455 0.00 3.0%	US$/Oz US$/lbs US$/Oz 1US:1US % % % CDN$/Oz CDN$/lbs US$/Oz %

Net Smelter Gold Price Net Smelter Cu Net SmelterSilver Price	$64.64 $3.87 $0.00	CDN$/g CDN$/lb CDN$/g

Gold Process Recovery Cu Process Recovery Silver Processrecovery	88% 85% 70%	% % %

The resulting NSR equation in Canadian dollars is:

𝑁𝑆𝑅 = ($64.64 ∗𝐴𝑢𝑔𝑝𝑡∗0.88) + (3.83 ∗ Cu% ∗ 2204.62 ∗0.85)

A gold price of US$1600/oz and a Processing and General & Administrative total cost of $14.00/tonne processed requires a AuEq grade of approximately 0.25g/t using the smelter terms, royalties, Forex and metallurgical recoveries presented in the table above. Therefore, a cut-off of 0.25g/t AuEq is considered appropriate since the 3-year trailing average price of Au is currently approximately US$1600/oz (Kitco, 2021). The final resource pit has been based on the LG pit at the 125% price case in order to ensure that the resource pit will be large enough to encompass any potential reserves and is representative of an eventual economic extraction shape.

For the LG pit optimizations the costs given in Table 14-15 were used. Constant pit slopes at 45º were used for the resource pit.

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Table 14-15 Costs used for Lerchs-Grossmann Resource Pit

Cost	Value	Units
Mineralized Mining Costs Waste Mining Costs Processing Costs G&A Costs	$2.50 $2.30 $12.00 $2.00	/tonne /tonne /tonne of mineralization /tonne of mineralization

The resulting pit shape for “reasonable prospects of eventual economic extraction” is illustrated in Figure 14-16 with the AuEq grade for all blocks above cut-off.

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Figure 14-16 Three-dimensional View of the Resource Pit and AuEq blocks above 0.25g/t AuEq (Source: MMTS, 2021)

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14.10 Factors That May Affect the Mineral Resource Estimate

Areas of uncertainty that may materially impact the Mineral Resource estimate include:

Commodity price assumptions
Metal recovery assumptions
Mining and processing cost assumptions

There are no other known factors or issues known to the QP that materially affect the estimate other than normal risks faced by mining projects in the province in terms of environmental, permitting, taxation, socio-economic, marketing, and political factors.

14.11 External Review

The Resource Estimate methodology and conclusions have been reviewed by the external reviewer, Mike O’Brien, P. Geo., of Red Pennant Geoscience Services. Mike has concluded that the block estimates match the intent and method applied.

14.12 Risk Assessment

A description of potential risk factors is given in Table 14-16 along with either the justification for the approach taken or mitigating factors in place to reduce any risk.

Table 14-16 List of Risks and Mitigations/Justifications

#	Description	Justification/Mitigation
1	Classification Criteria	Indicated based on Variograms in Kena deposit
2	Geologic Model	Great Eastern and Great Western and Cu zone not classed and therefore not included in the Resource statement due to lack of geologic constraints currently.
3	Gold Price Assumption	Cut-off is based on $1800 Au,which is approximatelythe current spotprice.
4	High Grade Outliers	Capping and outlier restriction applied. Grade-tonnage curves show model validates well with composite data throughout thegrade distribution.
5	Processingand MiningCosts	Assumed
6	Previous underground mining	Site visit, production records and expert advice (Dandy, 2021) determine thatpreviousminingisminimalandnot material.

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Mineral Reserve Estimates

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Not Applicable.

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Mining Method

Not Applicable.

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Recovery Methods

Not Applicable.

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Project Infrastructure

Not Applicable.

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Market Studies and Contracts

Not Applicable.

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Environmental Studies, Permitting and Social or Community Impact

On the Daylight portion of the property a MYAB (multi-year area based) Mineral Exploration and Reclamation Permit MX-5-761 is in place, expiring in August 2022 prior to which a new 5-year permit application is required. Current reclamation bonding associated with this permit is $95,000 and is released by the government once the company ceases to explore the property and all reclamation work is completed.

The Kena Property is not currently permitted for diamond drilling. A new 5-year multi-area permit application was submitted to the Ministry of Mines in February 2021, with an anticipated approval timeline of 6 months. The property has had numerous drilling and exploration programs permitted previously and the author sees no reason to believe that the currently submitted permit application will not be approved in a timely manner.

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Capital and Operating Costs

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Not Applicable.

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Economic Analysis

Not Applicable.

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Adjacent Properties

The Kena property area has had a long history of exploration that led to the discovery of various mineralized prospects. The existence and location of these past producing mines and prospects is not necessarily indicative of the existence of similar mineralization at Kena. The following has been paraphrased from previous report as referenced.

23.1 Silver King Mine

Silver King Mine is the largest past-producer associated with the Silver King intrusions. The property was once part of the Apex mineral title holdings, falling west of its claim block. Silver King mineralization comprises three polymetallic veins, with galena, chalcopyrite, pyrite, and tetrahedrite and minor sphalerite, bornite, and stromeyerite within highly sheared Elise Fm mafic volcanic flows near the eastern contact of the Silver King intrusion. The gangue is quartz, carbonate, and siderite in sericite schist, a highly sericitized and sheared Silver King intrusion. The Silver King Mine (BC Minfile 082FSW176) was in continuous production from 1889 to 1913, then intermittently up to 1958. Mining of 202,049 t of ore returned 138,214,612 g Ag, 8,896 g Au, 6,789,739 kg Cu, 15,234 kg lead (Pb) and 4,071 kg zinc (Zn), which correlates to an average grade of 684 g/t Ag and 3.36% Cu.

23.2 Athabasca Mine and California Prospect

The historic Athabasca Mine and the California prospect are vein deposits in the Elise Fm between the Silver King intrusion and the Nelson batholith, just to the north of the Gold Mountain-Kena Gold mineralized trend outlined on the Kena property. These quartz veins containing free gold associated with pyrite and base metal sulphides are described as typical orogenic- style.

The Athabasca Mine (BC Minfile #082FSW168) had historic production of 20,219 tonnes grading 31.2 g/t Au and 10.0 g/t Ag.

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Other Relevant Data and Information

Not Applicable.

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Interpretation and Conclusions

25.1 Geology and Mineralization

Knowledge of the deposit settings, lithologies, and structural controls on mineralization, and the mineralization style and setting are sufficient to support Mineral Resource estimation.
Additional information on lithology, structure and alteration associated with mineralization would increase confidence in the mineral resource and potentially upgrade the Cu Zone, Great Eastern and Great Western to be included in the resource estimate.

25.2 Exploration and Drilling

The exploration programs completed to date are appropriate to the style of the known mineralization within the Project area.
Geophysical surveys have proven useful to assist in interpreting deposit geology and identifying drill targets for future exploration.
A total of 252 drillholes resulting in 36,243.9m of assayed intervals have been drilled into the project area between 1974 and 2017. Less than one percent of drilling was before 1981.

25.3 Sample Preparation and Analysis

Sampling methods are acceptable and meet industry-standard practice relative to the era of drilling.
For samples after 1988, analysis has been documented that it was performed by accredited thirdparty laboratory.
The QAQC programs employed during 2012 and 2017 have sample inclusion rates below the normal requirements for the resource estimate.

25.4 Data Verification

Drillhole data from 1980 to the present has been used in the resource estimate. Certificate checks were made and any corrections to the data have been included in the interpolations. Data that did not include QAQC has been validated using Point Validation.

The QP concludes that the site visit, data audit, and check assays to confirm that the resource database is adequate for resource estimation at this level. Concerns include a significant portion (20%) of the database is missing certificates, certificates of historic check assays from data verification programs are missing, and potential bias is seen in the 2001-2002 check assays.

25.5 Mineral Resource Estimate

The mineral resource has been estimated using ordinary kriging to estimate the Au grade in the Kena Gold, Gold Mountain and Daylight vein deposits. The estimate is constrained to a “reasonable prospects of eventual economic extraction” pit and has been validated by statistical comparisons with de-clustered composites and visual comparison.

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Recommendations

The following recommendations are made to move the project forward.

26.1 Exploration and Drilling

Based on the presence of orogenic porphyry and vein gold and porphyry copper-gold mineralization hosted on the large Kena Property the author recommends additional work. Mineralization, originally outlined by soil geochemistry, has been followed up with several phases of diamond drilling which indicate that the gold and copper zones align along strong structural corridors readily identified by geophysical signatures.

The 2021 exploration program will include two phases, one exploring targets on the Daylight portion of the property and the other on the Kena side (Table 26-1). Phase 2 is not contingent upon the results of the Phase 1 as the phases target separate zones (Table 26-2).

Table 26-1 Proposed Budget – Phase 1

Diamond Drilling - Daylight:	Budget($CDN)
Geologists Core splitter Road/pad construction – cat & excavator Drilling – 2,000 metres @ $95 Drilling extras – moves, mob, etc Assays - 1000 samples @ $45 Truck Rentals Supplies, expenses, etc. Reclamation Plotting, data compilation, etc. Sub-total	$ 16,125 $ 4,125 $ 5,000 $ 190,000 $ 30,000 $ 45,000 $ 2,500 $ 5,000 $ 8,000 $ 5,000 $ 294,625
Historic Core Re-Assaying:
Geologists Splitter – 30 days @ $425 Assays – 900 core samples @ $45 Truck Rental Expenses, supplies, etc Plotting, etc Sub-total	$ 22,125 $ 12,750 $ 40,500 $ 6,000 $ 2,500 $ 3,000 $ 86,875
Total - Phase 1	$381,500

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Table 26-2 Proposed Budget - Phase 2 Diamond Drilling – Kena Data compilation Geologist (Supervision) – 25 days @ $825 Geologist (core logging) – 70 days @ $600 Core splitter/cutter – 70 days @ $425 Road/pad construction – cat & excavator Drilling – 8000 metres @ $95 Drilling extras – moves, boxes, mob, etc Assays - 4000 samples @ $45 Truck Rentals Supplies, expenses, etc. Reclamation Plotting,data compilation,etc. Sub-total Mapping, Prospecting, Rock Chip - Southern Extension Geologist (Supervision) – 5 days @ $825 Geologist (core logging) Prospector/Sampler – 60 days @ $425 Assays – 400 chips @ $45 Truck Rental Expenses/supplies/etc Plotting, etc Sub-total Total - Phase 2	Table 26-2 Proposed Budget - Phase 2 Diamond Drilling – Kena Data compilation Geologist (Supervision) – 25 days @ $825 Geologist (core logging) – 70 days @ $600 Core splitter/cutter – 70 days @ $425 Road/pad construction – cat & excavator Drilling – 8000 metres @ $95 Drilling extras – moves, boxes, mob, etc Assays - 4000 samples @ $45 Truck Rentals Supplies, expenses, etc. Reclamation Plotting,data compilation,etc. Sub-total Mapping, Prospecting, Rock Chip - Southern Extension Geologist (Supervision) – 5 days @ $825 Geologist (core logging) Prospector/Sampler – 60 days @ $425 Assays – 400 chips @ $45 Truck Rental Expenses/supplies/etc Plotting, etc Sub-total Total - Phase 2
	Diamond Drilling – Kena
	Data compilation Geologist (Supervision) – 25 days @ $825 Geologist (core logging) – 70 days @ $600 Core splitter/cutter – 70 days @ $425 Road/pad construction – cat & excavator Drilling – 8000 metres @ $95 Drilling extras – moves, boxes, mob, etc Assays - 4000 samples @ $45 Truck Rentals Supplies, expenses, etc. Reclamation Plotting,data compilation,etc.	$ 50,000 $ 20,675 $ 42,000 $ 29,750 $ 10,000 $ 760,000 $ 70,000 $ 180,000 $ 7,500 $ 15,000 $ 15,450 $10,000
	Sub-total	$ 1,210,375
	Mapping, Prospecting, Rock Chip - Southern Extension
	Geologist (Supervision) – 5 days @ $825 Geologist (core logging) Prospector/Sampler – 60 days @ $425 Assays – 400 chips @ $45 Truck Rental Expenses/supplies/etc Plotting, etc Sub-total	$ 4,125 $ 18,000 $ 25,500 $ 18,000 $ 9,000 $ 5,000 $ 10,000 $ 89,625
	Total - Phase 2	$ 1,300,000

In Phase 1, drilling will test the Starlight Vein system and the Great Western area to expand on previously identified intrusive related gold mineralization in that zone. At Starlight, drill results will assist in determining the average grade and width of this vein in the vicinity of the historic Starlight workings where the magnetic low signature is strongly consistent with the shear hosted vein location.

Phase 2 consists of diamond drilling on the Kena portion of the property with two priority target areas. The large Kena Copper Zone is to be tested to be located where the strongest portion of the copper soil geochemical anomaly is associated with a significant induced polarization geophysical signature. In conjunction with the drilling program, a two-week geological mapping, prospecting, and rock sampling survey is recommended over several target areas in the southern portion of the Kena claim block (south of the Kena Copper Zone). Target areas have been identified by prior geochemical and geophysical surveys.

The total recommended budget is CDN$2,510,374 as summarized in Table 26-3.

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Table 26-3 Recommended Exploration Budget Summary

Phase	Item	Budget($CDN)
Phase 1	Diamond Drilling - Daylight: Historic Core Re-Assaying - Daylight Total - Phase 1	$ 294,625 $ 86,875 $381,500
Phase 2	Diamond Drilling – Kena Mapping, Prospecting, Rock Chip - Southern Ext. Total - Phase 2	$ 1,210,375 $ 89,625 $1,300,000
Total Budget Recommended		$ 2,510,375

26.2 QAQC and Check Assay Recommendations

The QAQC programs employed during 2012 and 2017 are below the normal requirements for resource estimation. It is recommended that a higher ratio of QAQC samples should be used in future sampling programs and should comprise approximately 15% of the total assays sampled.

The local rock and garden stone used as blank materials in 2012 and 2017 have a high failure rate and are not suitable blank materials. Certified blank materials should be used for QAQC sampling.

Two of the three gold CRM samples inserted into the sample streams in 2012 indicate there may a high bias in the gold assays, however the number of samples is small, and sometimes there are issues with the CRM materials. Additional check assay programs are recommended including QAQC samples.

There are no QAQC samples in drilling in the Copper Zone. Check assays with QAQC is recommended for the Copper Zone.

Further check assays are recommended and planned to be conducted to include 5-10% of samples from every year that core or samples are available and include QAQC samples.

The assay database should be amended to include silver and copper for all available samples.

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References

Andrew, K. and Hoy, T., 1988; The Shaft Showing, Elise Formation, Rossland Group: BC Ministry of Energy, Mines and Petroleum Resources, Exploration in British Columbia 1988.

Apex Resource Inc., 2016. Kena Option Agreement between Apex Resources Inc. and 1994843 Alberta Ltd.

Black, P.T., 1987; 1987 Drilling Project Report: BC Ministry of Mines Assessment Report #16594.

Brown, J. and Gagnon, C., 2 March 2018, 2017 Geological, Geochemical, Geophysical, and Drilling Program - Daylight Project, BC Geological Survey Assessment Report 37536 (Prize Mining Corporation).

Canadian Securities Administrators (CSA), 2011: National Instrument 43-101, Standards of Disclosure for Mineral Projects, Canadian Securities Administrators.

Canadian Institute of Mining, Metallurgy and Petroleum (CIM), 2019: Estimation of Mineral Resources and Mineral Reserves, Best Practice Guidelines: Canadian Institute of Mining, Metallurgy and Petroleum, November 29, 2019.

Canadian Institute of Mining, Metallurgy and Petroleum (CIM), 2014: CIM Standards for Mineral Resources and Mineral Reserves, Definitions and Guidelines: Canadian Institute of Mining, Metallurgy and Petroleum, May, 2014.

Dandy, L., 2021. Personal Communication.

Dandy, L., January, 2011, Geological, Geochemical, Geophysical, and Diamond Drilling Report on the Kena Property, BC Geological Survey Assessment Report 31924 (Sultan Minerals Inc.).

Dandy, L., 2009; Geological and Trenching Report on the Kena Property: BC Ministry of Energy and Mines Assessment Report #30694.

Dandy, L., May 2008, Geological, Geochemical and Drilling Report on the Kena Property, BC Geological Survey Assessment Report 29992 (Sultan Minerals Inc.)

Dandy, L., February 2003, Geological, Geochemical and Drilling Report on the Kena Property, BC Geological Survey Assessment Report 27240 (Sultan Minerals Inc.)

Dandy, L., May 2002, Geological, Geochemical and Drilling Report on the Kena Property, BC Geological Survey Assessment Report 26875 (Sultan Minerals Inc.)

Dandy, L., 2002; Geology, Geochemistry, Geophysics, Trenching and Diamond Drilling Report on the Kena Property: 43-101 Technical Report for British Columbia Securities Commission.

Dandy, L., August 2001, Geology, Trenching and Diamond Drilling Report on the Kena Property, BC Geological Survey Assessment Report 26699 (Sultan Minerals Inc.)

Dandy, L., February 2001, Geological, Geochemical, Geophysical and Trenching Report on the Kena Property, BC Geological Survey Assessment Report 26503 (Sultan Minerals Inc.)

Dandy, L., March 2000, Geological and Geochemical Report on the Kena Property, BC Geological Survey Assessment Report 26212 (Sultan Minerals Inc.)

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DMT Geosciences, 2013; Geophysical Analysis and Interpretation of the Historical Surveys of the Kena Property: Unpublished report for Altair Gold Inc.

Dunn, P.G., 1978; Kena Prospect: BC Ministry of Mines Assessment Report.

Dunne, K.P.E., 2001; Alteration Mapping Study of the Gold Mountain Zone, Kena Property: Unpublished Report for Sultan Minerals Inc.

Giroux, G.H. and Dandy, L.L., 2004; Preliminary Resource Calculations for Gold Mountain and Kena Gold Zones, Kena Property, BC: Technical Report for British Columbia Securities Commission.

Giroux, G. and Grunenberg, P., 2012; Technical Report on the Kena Property, Nelson, BC, May 15, 2012: Technical Report

Giroux, G., 2013, “Technical Report for the Kena Property, Nelson, BC” for Altair Gold.

Grunenberg, P.B., 2010; Geophysical and Geochemical Report on the Kena Property: BC Ministry of Energy and Mines Assessment Report #31454.

Grunenberg, P.B. and Dandy, L.L., 2011; Summary Report on the Kena Property, for Sultan Minerals Inc

Hoy, T., 2003; Structural Geology of the Kena Property, Nelson Area, Southeastern British Columbia: Unpublished Report for Sultan Minerals Inc.

Hoy, T. and Andrew, K.P.E., 1989; Geology of the Nelson Map Area, Southeastern British Columbia: BC Ministry of Energy, Mines, and Petroleum Resources, Open File 1989-11.

Hoy, T. and Andrew, K.P.E., 1989; The Rossland Group, Nelson Map Area, Southeastern British Columbia: BC Ministry of Energy, Mines and Petroleum Resources, Geological Fieldwork, 1988, Paper 1989-1.

Hoy, T. and Dunne, K.P.E., 1997; Early Jurassic Rossland Group – Part I Stratigraphy and Tectonics: BC Ministry of Energy and Mines, Bulletin 102.

Hoy, T. and Dunne, K.P.E., 1998; Geological Compilation of the Trail Map-Area: BC Ministry of Energy and Mines, Geoscience Map 1998-1.

Johnson, D., 1975; Report on Kena Copper Prospect: BC Ministry of Mines Assessment Report #05665.

Johnson, D., 23 October 1974, Report on Percussion Drilling Kena Claims Toad Mountain Area, BC Geological Survey Assessment Report 05222 (Ducanex Resources Limited)

Johnston, R.J., 1986; Summary Report on 1986 Work – Kena Property: BC Ministry of Mines Assessment Report #15767.

Johnston, R.J., December 1986, Assessment Report on Diamond Drilling Kena Property, BC Geological Survey Assessment Report 15373 (Lacana Mining Corporation)

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Johnston, R.J., November 1986, Summary Report on 1986 Work Kena Property, Nelson, BC, BC Geological Survey Assessment Report 15767 (Lacana Mining Corporation)

Johnston, R.J., 7 August 1985, Geological, Drilling, and Physical Report on the Kena Property, BC Geological Survey Assessment Report 14023 (Lacana Mining Corporation)

Kitco, 2021. Kitco gold Price Charts, Kitco.com

Lewis, W.J., 1990; Geophysical & Geochemical Report on the Kena Copper Grid for Assessment Credits on the Schist 1, Schist 2, Schist 3, Schist Fr., Cottonwood and Hall Mineral Claims (K Group): BC Ministry of Mines Assessment Report #20634.

Lewis, W.J. and Lisle, T.E., 20 November 1990, 1990 Diamond Drilling Report for Assessment Credits on the Cot, Roadside FR., Cot FR., Mas FR., Tee FR., Flat FR., Au 2, Au 4, Star of the West and Princess Mineral Claims – Shaft Property, BC Geological Survey Assessment Report 20481 (Noramco Mining Corporation)

Lewis, W.J. and Silversides, D.A., January 1991, 1990 Diamond Drilling Report on the K Group – Drill Holes K90-1 to K90-4 – Kena Project, BC Geological Survey Assessment Report 20894 (Noramco Mining Corporation)

Park, V. and Grunenberg, P., 15 May 2013, Geological, Geochemical, Geophysical, and Drilling Report for the Kena Property, BC Geological Survey Assessment Report 34138 (Altair Gold Inc.)

Rhys, D., 2001; Structural Geology Study of the Gold Mountain Zone, Kena Property: Unpublished Report for Sultan Minerals Inc.

Rhys D., 2000; Kena Property Structural Geology Study: Unpublished Report for Sultan Minerals Inc.

Sirola, W.M., 26 October 1981, Diamond Drilling Report Kena 18-15 Mineral Claims, BC Geological Survey Assessment Report 09593 (Kerr Addison Mines Limited)

Sirola, W.M., 17 September 1981, Diamond Drilling Report Kena #7 Mineral Claim, BC Geological Survey Assessment Report 09476 (Kerr Addison Mines Limited)

TerraLogic, 2018, “Assessment Report 2017 Geological, Geochemical, Geophysical and Drilling Program, Daylight Project” for Prize Mining.

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APPENDIX A Drillhole Collars

HOLE-ID	EASTING	NORTHING	ELEVATION	LENGTH	AZIMUTH	DIP	Year	Company	Area	DH Type
P74-01	480676	5474819	1497.5	15.24	40	-60	1974	Ducanex	Kena-GM	Percussion
P74-02	480676	5474819	1497.5	82.3	0	-90	1974	Ducanex	Kena-GM	Percussion
P74-03	480593	5474868	1487.9	76.2	40	-60	1974	Ducanex	Kena-GM	Percussion
P74-04	480617	5474857	1491.6	76.2	40	-60	1974	Ducanex	Kena-GM	Percussion
KK81-01	480533	5474839	1477.4	182.3	40	-60	1981	Kerr Addison	Kena-GM	DDH
KK81-02	480640	5474740	1506.5	167	40	-60	1981	Kerr Addison	Kena-GM	DDH
KK81-03	480576	5474782	1495.6	179.2	40	-60	1981	Kerr Addison	Kena-GM	DDH
KK81-04	481608.8	5473554.4	1555.5	228.5	40	-63	1981	Kerr Addison	Cu Zone	DDH
KK81-05	481824.6	5473062.1	1599.4	255.4	40	-51	1981	Kerr Addison	Cu Zone	DDH
KK81-06	482225	5472774.6	1593.5	151.8	40	-51	1981	Kerr Addison	Cu Zone	DDH
LK85-07	480689	5474793	1502.6	53.64	40	-55	1985	Lacana	Kena-GM	DDH
LK85-08	480661	5474797	1499.9	61.26	20	-55	1985	Lacana	Kena-GM	DDH
LK85-09	480642	5474810	1495	59.74	20	-55	1985	Lacana	Kena-GM	DDH
LK85-10	480698	5474620	1509.8	71.63	20	-55	1985	Lacana	Kena-GM	DDH
LK85-11	480701	5474760	1504.6	85.65	40	-55	1985	Lacana	Kena-GM	DDH
LK85-12	481603.7	5473402.2	1572	49.07	90	-55	1985	Lacana	Cu Zone	DDH
LK85-13	480678	5474775	1502.8	97.84	40	-55	1985	Lacana	Kena-GM	DDH
LK85-14	480663	5474766	1497.3	133.5	40	-55	1985	Lacana	Kena-GM	DDH
LK85-15	480765	5474553	1505.4	117.65	40	-55	1985	Lacana	Kena-GM	DDH
LK85-16	480737	5474741	1505.6	92.66	40	-55	1985	Lacana	Kena-GM	DDH
LK85-17	480781	5474533	1506.7	129.84	40	-55	1985	Lacana	Kena-GM	DDH
LK85-18	480740	5474689	1498.9	138.99	40	-55	1985	Lacana	Kena-GM	DDH
LK85-19	480673	5474573	1533.4	227.38	40	-55	1985	Lacana	Kena-GM	DDH
LK86-20	480796	5474688	1499.2	144.47	40	-50	1986	Lacana	Kena-GM	DDH
LK86-21	480796	5474688	1499.2	114.91	40	-80	1986	Lacana	Kena-GM	DDH
LK86-22	480858	5474644	1499.4	153.62	40	-50	1986	Lacana	Kena-GM	DDH
LK86-23	480858	5474644	1499.4	151.49	40	-80	1986	Lacana	Kena-GM	DDH
LK86-24	480767	5474652	1504	126.49	40	-70	1986	Lacana	Kena-GM	DDH
LK86-25	480856	5474523	1485.6	107.9	55	-45	1986	Lacana	Kena-GM	DDH
LK86-26	480883	5474460	1488.4	180.44	60	-60	1986	Lacana	Kena-GM	DDH
LK86-27	480922	5474418	1485	120.09	60	-45	1986	Lacana	Kena-GM	DDH
LK86-28	480724	5474597	1502.6	273.1	40	-60	1986	Lacana	Kena-GM	DDH
LK86-29	480889	5474569	1485	214.58	40	-45	1986	Lacana	Kena-GM	DDH
LK86-30	480889	5474569	1485	111.25	40	-80	1986	Lacana	Kena-GM	DDH
LK86-31	480994	5474564	1479.6	257.25	40	-45	1986	Lacana	Kena-GM	DDH
LK86-32	480970	5474536	1475.5	92.35	40	-70	1986	Lacana	Kena-GM	DDH

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HOLE-ID	EASTING	NORTHING	ELEVATION	LENGTH	AZIMUTH	DIP	Year	Company	Area	DH Type
LK86-33	481108	5474400	1458.3	83.51	40	-45	1986	Lacana	Kena-GM	DDH
LK86-34	480527	5474915	1466.4	92.66	40	-45	1986	Lacana	Kena-GM	DDH
LK86-35	480518	5474950	1447.9	104.85	35	-45	1986	Lacana	Kena-GM	DDH
LK86-36	480818	5474677	1498.3	117.65	40	-60	1986	Lacana	Kena-GM	DDH
LK86-37	480778	5474699	1498.6	129.54	40	-50	1986	Lacana	Kena-GM	DDH
LK86-38	480841	5474660	1500.1	138.99	40	-60	1986	Lacana	Kena-GM	DDH
LK86-39	480805	5474656	1505.5	145.08	40	-60	1986	Lacana	Kena-GM	DDH
LK86-40	480760	5474681	1505.4	163.37	40	-60	1986	Lacana	Kena-GM	DDH
LK86-41	480748	5474724	1503.2	105.16	40	-50	1986	Lacana	Kena-GM	DDH
TK87-42	481577	5473435.4	1574.1	168.9	40	-45	1987	Tournigan	Cu Zone	DDH
TK87-43	480655	5474755	1499.4	139.6	0	-90	1987	Tournigan	Kena-GM	DDH
TK87-44	480088	5474765	1472.4	153.6	70	-45	1987	Tournigan	Kena-GM	DDH
TK87-45	480191	5475007	1403.3	153.01	40	-45	1987	Tournigan	Kena-GM	DDH
TK87-46	480094	5474962	1401.5	126.18	40	-45	1987	Tournigan	Kena-GM	DDH
TK87-47	479969	5474887	1407.5	177.69	70	-45	1987	Tournigan	Kena-GM	DDH
SP88-01	479736	5475635	1418.8	210	58	-60	1988	South Pacific	Kena-GM	DDH
SP88-02	479736	5475635	1418.8	60	58	-60	1988	South Pacific	Kena-GM	DDH
SP88-03	479705	5475624	1412.8	80	51	-60	1988	South Pacific	Kena-GM	DDH
SP88-04	479705	5475624	1412.8	137.72	0	-90	1988	South Pacific	Kena-GM	DDH
SP88-05	479714	5475386	1426.3	222.5	60	-60	1988	South Pacific	Kena-GM	DDH
SP88-06	479721	5475528	1404.4	176	60	-60	1988	South Pacific	Kena-GM	DDH
K90-01	479751	5474993	1462.2	245.35	60	-75	1990	Noramco	Kena-GM	DDH
K90-02	479751	5474993	1462.2	64.63	240	-45	1990	Noramco	Kena-GM	DDH
K90-03	482018.5	5473024.7	1568.9	355.1	40	-60	1990	Noramco	Cu Zone	DDH
K90-04	482418.3	5472540.4	1482.9	392	40	-60	1990	Noramco	Cu Zone	DDH
SH90-01	479770	5476036	1437.4	345.8	60	-65	1990	Noramco	Kena-GM	DDH
SH90-02	479661	5475974	1462.9	368.9	60	-65	1990	Noramco	Kena-GM	DDH
SH90-03	479424	5475824	1473.7	281.32	60	-70	1990	Noramco	Kena-GM	DDH
SH90-04	479585	5475915	1480.2	154.6	60	-65	1990	Noramco	Kena-GM	DDH
SH90-05	479856	5475740	1390.7	227.1	60	-65	1990	Noramco	Kena-GM	DDH
SH90-06	479905	5477085	1145	275.9	53	-60	1990	Noramco	Kena-GM	DDH
NK91-01	482178	5472285	1511.4	486.76	40	-60	1991	Noramco	Cu Zone	DDH
NK91-02	481656	5473623	1543.3	237	175	-45	1991	Noramco	Cu Zone	DDH
NK91-03	480576	5474691	1518	351.43	0	-90	1991	Noramco	Kena-GM	DDH
01GM-01	479365.1	5475917.1	1479.1	137.16	58	-45	2001	Sultan	Kena-GM	DDH
01GM-02	479364.6	5475916.8	1479.2	134.26	57	-60	2001	Sultan	Kena-GM	DDH
01GM-03	479364.6	5475916.8	1479.2	124.05	73	-45	2001	Sultan	Kena-GM	DDH
01GM-04	479459.3	5475979.5	1479	267.61	240	-45	2001	Sultan	Kena-GM	DDH

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HOLE-ID	EASTING	NORTHING	ELEVATION	LENGTH	AZIMUTH	DIP	Year	Company	Area	DH Type
01GM-05	479320.4	5475891.1	1483.8	170.08	60	-45	2001	Sultan	Kena-GM	DDH
01GM-06	479382	5475879	1477	135.33	60	-45	2001	Sultan	Kena-GM	DDH
01GM-07	479465.7	5475663.9	1465.9	142.04	60	-45	2001	Sultan	Kena-GM	DDH
01GM-08	479261.7	5475853.6	1493.5	214.27	60	-45	2001	Sultan	Kena-GM	DDH
01GM-09	479197.2	5475821.8	1507.7	295.96	60	-45	2001	Sultan	Kena-GM	DDH
01GM-10	479137.3	5475783.6	1518.5	359.05	58	-45	2001	Sultan	Kena-GM	DDH
01GM-11	479118.2	5475898.1	1529.5	349.3	60	-45	2001	Sultan	Kena-GM	DDH
01GM-12	478920.1	5476015	1562	305.78	60	-45	2001	Sultan	Kena-GM	DDH
01GM-13	478831.7	5476181.6	1566.4	132.89	60	-45	2001	Sultan	Kena-GM	DDH
01GM-14	479340.6	5475569	1495.2	151.49	60	-45	2001	Sultan	Kena-GM	DDH
01GM-15	478464.3	5476220.8	1641.5	105.46	60	-45	2001	Sultan	Kena-GM	DDH
01GM-16	479538.1	5475224.3	1511.8	144.78	62	-45	2001	Sultan	Kena-GM	DDH
01GM-17	478651.5	5476320.3	1584.6	138.99	58	-45	2001	Sultan	Kena-GM	DDH
01GM-18	478752	5476136.6	1586.7	185.62	60	-45	2001	Sultan	Kena-GM	DDH
01GM-19	479615.3	5475274.2	1491.4	138.38	60	-45	2001	Sultan	Kena-GM	DDH
01GM-20	479174.2	5475585.6	1546.4	178.31	60	-55	2001	Sultan	Kena-GM	DDH
01GM-21	479536.5	5475223.2	1512	59.74	0	-90	2001	Sultan	Kena-GM	DDH
01GM-22	478752	5476136.6	1586.7	55.47	60	-65	2001	Sultan	Kena-GM	DDH
01GM-23	479411.7	5475953.9	1478.7	121.92	60	-45	2001	Sultan	Kena-GM	DDH
01GM-24	479410.4	5475954	1478.6	91.7	15	-45	2001	Sultan	Kena-GM	DDH
01GM-25	479378.2	5475944.7	1479.2	186.23	0	-90	2001	Sultan	Kena-GM	DDH
01GM-26	479393.1	5475917.9	1476	177.4	0	-90	2001	Sultan	Kena-GM	DDH
01GM-27	479388.6	5476186.1	1481.1	110.61	60	-45	2001	Sultan	Kena-GM	DDH
01GM-28	479382.1	5475902	1477.1	184.05	0	-90	2001	Sultan	Kena-GM	DDH
01GM-29	479152.4	5475653.1	1539.9	103.17	347	-45	2001	Sultan	Kena-GM	DDH
02GM-30	479322	5475862	1484.2	178.92	56	-47	2002	Sultan	Kena-GM	DDH
02GM-31	479382.9	5475902	1477	76.05	30	-46	2002	Sultan	Kena-GM	DDH
02GM-32	479383.5	5475901	1477	71.93	90	-46	2002	Sultan	Kena-GM	DDH
02GM-33	479387	5475937	1477.8	101.5	56	-46	2002	Sultan	Kena-GM	DDH
02GM-34	479289.8	5475873	1488	195.07	60	-46	2002	Sultan	Kena-GM	DDH
02GM-35	479276.2	5475837	1489.5	207.47	56	-46	2002	Sultan	Kena-GM	DDH
02GM-36	479275	5475849	1489.6	206.65	56	-46	2002	Sultan	Kena-GM	DDH
02GM-37	479313.4	5475875	1485	181.66	56	-46	2002	Sultan	Kena-GM	DDH
02GM-38	479356.5	5475886	1479.6	133.2	56	-46	2002	Sultan	Kena-GM	DDH
02GM-39	479348.1	5475898	1480.1	137.35	56	-46	2002	Sultan	Kena-GM	DDH
02GM-40	479382.9	5475918	1477.3	106.73	56	-46	2002	Sultan	Kena-GM	DDH
02GM-41	479311.7	5475874	1485	354.83	0	-90	2002	Sultan	Kena-GM	DDH
02GM-42	479338.806	5475873.844	1482.3	251	0	-90	2002	Sultan	Kena-GM	DDH

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HOLE-ID	EASTING	NORTHING	ELEVATION	LENGTH	AZIMUTH	DIP	Year	Company	Area	DH Type
02GM-43	479387.766	5475843.543	1478	195.07	0	-90	2002	Sultan	Kena-GM	DDH
02GM-44	479439.207	5475875.147	1474	122.53	0	-90	2002	Sultan	Kena-GM	DDH
02GM-45	479364.268	5475976.202	1479.8	168.55	0	-90	2002	Sultan	Kena-GM	DDH
02GM-46	479389.412	5475712.117	1481.5	254.2	0	-90	2002	Sultan	Kena-GM	DDH
02GM-47	479619.451	5475373.761	1468.8	207.26	0	-90	2002	Sultan	Kena-GM	DDH
02GM-48	479579.46	5475463.063	1462.8	195.07	235	-89	2002	Sultan	Kena-GM	DDH
02GM-49	479525.856	5475555.773	1457	156.06	0	-90	2002	Sultan	Kena-GM	DDH
02GM-50	479340.434	5476130.576	1485.7	128.63	60	-51	2002	Sultan	Kena-GM	DDH
02GM-51	479895.21	5475189.043	1404.1	61.26	60	-50	2002	Sultan	Kena-GM	DDH
02GM-52	479748	5475114	1467.3	216.41	62	-51	2002	Sultan	Kena-GM	DDH
02GM-53	479646	5475069	1497.8	335.28	60	-51	2002	Sultan	Kena-GM	DDH
02GM-54	478752	5476137	1586.6	128.63	17	-51	2002	Sultan	Kena-GM	DDH
02GM-55	478752	5476137	1586.6	55.17	110	-50	2002	Sultan	Kena-GM	DDH
02GM-56	479452	5476028	1477.8	87.17	55	-51	2002	Sultan	Kena-GM	DDH
02GM-57	479430	5476214	1489	65.23	60	-50	2002	Sultan	Kena-GM	DDH
02GM-58	479430	5476214	1489	62.79	90	-51	2002	Sultan	Kena-GM	DDH
02GM-59	479555	5476048	1477.7	115.52	60	-50	2002	Sultan	Kena-GM	DDH
02GM-60	479672	5475742	1458.2	118.87	60	-50	2002	Sultan	Kena-GM	DDH
02GM-61	478428	5476455	1568.6	220.98	60	-50	2002	Sultan	Kena-GM	DDH
02GM-62	478261	5476498	1568.2	133.2	60	-50	2002	Sultan	Kena-GM	DDH
02GM-63	477999	5476354	1621.7	261.52	60	-50	2002	Sultan	Kena-GM	DDH
02GM-64	478724	5476481	1525.6	211.53	60	-50	2002	Sultan	Kena-GM	DDH
02GW-01	477582	5476212	1468	121.92	150	-50	2002	Sultan	Great EW	DDH
02GW-02	477984	5475871	1638	129.54	10	-50	2002	Sultan	Great EW	DDH
02GW-03	477880	5476026	1618	156.97	0	-50	2002	Sultan	Great EW	DDH
02GW-04	477741	5476060	1555	135.64	328	-45	2002	Sultan	Great EW	DDH
02GW-05	477832	5476559	1562.1	135.33	45	-50	2002	Sultan	Kena-GM	DDH
02GW-06	478018	5475482	1675	167.34	15	-52	2002	Sultan	Great EW	DDH
02KG-01	480688	5474792	1502.6	320.65	0	-90	2002	Sultan	Kena-GM	DDH
02KG-02	480245	5474736	1498.2	220.98	42	-52	2002	Sultan	Kena-GM	DDH
02SG-01	481865	5472802	1653.8	289.6	40	-51	2002	Sultan	Cu Zone	DDH
02SG-02	481860	5472653	1646.4	300.23	38	-46	2002	Sultan	Cu Zone	DDH
02SG-03	481942	5472622	1610.6	257	40	-52	2002	Sultan	Cu Zone	DDH
02SG-04	482038	5472548	1581.9	218.5	37	-50	2002	Sultan	Cu Zone	DDH
02SL-01	477392	5475436	1562	87.3	60	-50	2002	Sultan	Daylight	DDH
02SL-02	477363	5475408	1567	116	60	-50	2002	Sultan	Daylight	DDH
02SL-03	477385	5475381	1565	152.4	60	-50	2002	Sultan	Daylight	DDH
02SL-04	478388	5474837	1773	122.83	60	-50	2002	Sultan	Daylight	DDH

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HOLE-ID	EASTING	NORTHING	ELEVATION	LENGTH	AZIMUTH	DIP	Year	Company	Area	DH Type
02SL-05	478183	5475015	1785	300.23	40	-50	2002	Sultan	Daylight	DDH
02SL-06	477628	5475270	1555	89.61	40	-50	2002	Sultan	Daylight	DDH
R02GM-01	479285.4	5475838	1488.4	60	56	-46	2002	Sultan	Kena-GM	REV CIRC
R02GM-02	479277.8	5475851	1489.4	179	56	-46	2002	Sultan	Kena-GM	REV CIRC
R02GM-03	479420.6	5475942	1477.8	80.77	56	-46	2002	Sultan	Kena-GM	REV CIRC
R02GM-04	479429.2	5475929	1475.2	65.33	56	-46	2002	Sultan	Kena-GM	REV CIRC
03GM-65	478179	5476667	1524.5	111.64	246	-45	2003	Sultan	Kena-GM	DDH
03GM-66	478179	5476667	1524.5	38.1	246	-65	2003	Sultan	Kena-GM	DDH
03GM-67	478179	5476667	1524.5	49.68	210	-45	2003	Sultan	Kena-GM	DDH
03GM-68	478196	5476693	1518.7	38.4	280	-45	2003	Sultan	Kena-GM	DDH
03GM-69	478196	5476693	1518.7	53.34	315	-45	2003	Sultan	Kena-GM	DDH
03GM-70	478233	5476535	1555.3	77.11	60	-45	2003	Sultan	Kena-GM	DDH
03GM-71	479650	5475118	1493.2	63.7	61	-45	2003	Sultan	Kena-GM	DDH
03GM-72	479738	5475042	1466.7	54.86	60	-45	2003	Sultan	Kena-GM	DDH
03KG-01	480621	5474803	1491.1	43.6	0	-90	2003	Sultan	Kena-GM	DDH
03KG-02	480628	5474820	1492.1	33.5	0	-90	2003	Sultan	Kena-GM	DDH
03KG-03	480658	5474833	1496.6	49.7	0	-90	2003	Sultan	Kena-GM	DDH
03KG-04	480641	5474775	1495	30.5	0	-90	2003	Sultan	Kena-GM	DDH
03KG-05	480648	5474806	1495.8	53.3	0	-90	2003	Sultan	Kena-GM	DDH
03KG-06	480669	5474858	1493.8	34.1	0	-90	2003	Sultan	Kena-GM	DDH
03KG-07	480693	5474834	1493.9	46.6	0	-90	2003	Sultan	Kena-GM	DDH
03KG-08	480685	5474762	1503.1	64.3	0	-90	2003	Sultan	Kena-GM	DDH
03KG-09	480706	5474771	1505.2	54.9	0	-90	2003	Sultan	Kena-GM	DDH
03KG-10	480714	5474803	1496.8	41.1	60	-58	2003	Sultan	Kena-GM	DDH
03KG-11	480690	5474831	1495.3	48.8	31	-56	2003	Sultan	Kena-GM	DDH
03KG-12	480693	5474834	1493.9	44.2	80	-46	2003	Sultan	Kena-GM	DDH
03KG-13	480731	5474755	1505.9	32	0	-90	2003	Sultan	Kena-GM	DDH
03KG-14	480744	5474742	1505	23.3	0	-90	2003	Sultan	Kena-GM	DDH
04GMX-01	479360.2	5475939.7	1480	117.96	123	-45	2004	Sultan	Kena-GM	DDH
04GMX-02	479439.7	5475788.9	1472.9	230.73	330	-45	2004	Sultan	Kena-GM	DDH
04KGX-01	480666	5474811	1498.4	121.01	310	-45	2004	Sultan	Kena-GM	DDH
04KGX-02	480619	5474837	1492.8	143.56	130	-45	2004	Sultan	Kena-GM	DDH
07GM-01	479382	5475896	1477.3	547.73	220	-70	2007	Sultan	Kena-GM	DDH
10CK-01	482321	5472863	1597.1	396.24	0	-90	2010	Sultan	Cu Zone	DDH
10CK-02	482280	5473174	1508	145.69	175	-45	2010	Sultan	Cu Zone	DDH
10HG-01	478296	5476500	1564	76.2	50	-47.5	2010	Sultan	Kena-GM	DDH
10HG-02	478296	5476500	1564	91.44	20	-45	2010	Sultan	Kena-GM	DDH
10HG-03	478296	5476500	1564	85.34	77	-45	2010	Sultan	Kena-GM	DDH

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Apex Resources Inc Kena Project

HOLE-ID	EASTING	NORTHING	ELEVATION	LENGTH	AZIMUTH	DIP	Year	Company	Area	DH Type
10HG-04	478296	5476500	1564	122.22	50	-77	2010	Sultan	Kena-GM	DDH
10HG-05	479174	5475585	1546.5	154.53	60	-73	2010	Sultan	Kena-GM	DDH
10HG-06	479428	5476020	1479.5	160.98	240	-64	2010	Sultan	Kena-GM	DDH
10HG-07	479428	5476020	1479.5	154.53	245	-48	2010	Sultan	Kena-GM	DDH
10SG-05	482002	5472510	1582.6	198.12	40	-50	2010	Sultan	Cu Zone	DDH
12GM-01	479362	5475918	1479.4	154.23	67.2	-44.6	2012	Altair	Kena-GM	DDH
12GM-02	479265	5475829	1491.7	263.65	59.4	-49.6	2012	Altair	Kena-GM	DDH
12GM-03	479362	5475789	1484.8	205.74	60	-50	2012	Altair	Kena-GM	DDH
12GM-04	479499	5475753	1468.6	175.56	55	-49.9	2012	Altair	Kena-GM	DDH
12GM-05	479407	5475704	1478	132.89	60	-50	2012	Altair	Kena-GM	DDH
12GM-06	479457	5475082	1554.9	291.39	60	-50	2012	Altair	Kena-GM	DDH
12GM-07	479485	5475605	1461.5	148.13	60	-50	2012	Altair	Kena-GM	DDH
12GM-08	479525	5475474	1474.8	176.17	53.3	-50	2012	Altair	Kena-GM	DDH
12GM-09	479512	5475365	1497	260.91	60	-50	2012	Altair	Kena-GM	DDH
12GM-10	479588	5475158	1506.2	284.07	53.5	-50.7	2012	Altair	Kena-GM	DDH
12GM-11	479615	5474921	1523.5	203	60	-50	2012	Altair	Kena-GM	DDH
12GM-12	479788	5475014	1451.6	211.84	60	-45	2012	Altair	Kena-GM	DDH
12GM-13A	479395	5475745	1480	87.48	54.2	-44.8	2012	Altair	Kena-GM	DDH
12GM-13B	479395	5475745	1480	202.39	53.8	-46.1	2012	Altair	Kena-GM	DDH
12GM-14	479723	5475680	1438.6	221.28	55.7	-45.3	2012	Altair	Kena-GM	DDH
12GM-15	479740	5475597	1399.9	103.63	60	-45	2012	Altair	Kena-GM	DDH
12HGZ-01	479172	5475584	1546.7	100.28	40	-45	2012	Altair	Kena-GM	DDH
12HGZ-02	479172	5475584	1546.7	104.85	75.7	-43.6	2012	Altair	Kena-GM	DDH
12HGZ-03	479188	5475507	1554	71.32	90	-45	2012	Altair	Kena-GM	DDH
12HGZ-04	479188	5475507	1554	77.11	75	-45	2012	Altair	Kena-GM	DDH
12HGZ-05	479188	5475507	1554	77.72	104.7	-44.6	2012	Altair	Kena-GM	DDH
12HGZ-06	479029	5475656	1580.4	74.98	84	-45.4	2012	Altair	Kena-GM	DDH
12KG-01	480649	5474769	1496	206.04	34.7	-55.5	2012	Altair	Kena-GM	DDH
12KG-02	480687	5474791	1502.6	157.28	32.7	-55.5	2012	Altair	Kena-GM	DDH
12KG-03	480675	5474825	1497.2	160.32	40.2	-54.4	2012	Altair	Kena-GM	DDH
12KG-04	480586	5474816	1484	172.52	30.3	-59.6	2012	Altair	Kena-GM	DDH
12KG-05	480586	5474816	1484	185.01	0	-90	2012	Altair	Kena-GM	DDH
12KG-06	480666	5474896	1485.6	151.49	40	-50	2012	Altair	Kena-GM	DDH
12KG-07	480511	5474818	1480.2	172.52	29.7	-50.2	2012	Altair	Kena-GM	DDH
12KG-08	480511	5474818	1480.2	154.84	0	-90	2012	Altair	Kena-GM	DDH
12KG-09	480580	5474696	1517.5	309.98	29.7	-64	2012	Altair	Kena-GM	DDH
12KG-10	480536	5474730	1510.9	290.47	40	-45	2012	Altair	Kena-GM	DDH
12KG-11	480616	5474670	1518.9	287.43	40	-45	2012	Altair	Kena-GM	DDH

NI 43-101 Resource Estimate Page 161 of 162

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HOLE-ID	EASTING	NORTHING	ELEVATION	LENGTH	AZIMUTH	DIP	Year	Company	Area	DH Type
12KG-12	480629	5474611	1533.1	284.99	40	-45	2012	Altair	Kena-GM	DDH
12KG-13	481033	5474507	1468.8	174.65	40	-45	2012	Altair	Kena-GM	DDH
12KG-14	481079	5474246	1482.9	218.24	40	-45	2012	Altair	Kena-GM	DDH
12KG-15	480403	5474678	1527.3	181.05	40	-45	2012	Altair	Kena-GM	DDH
12KG-16	480290	5474865	1457.2	256.64	40	-45	2012	Altair	Kena-GM	DDH
12KG-17	480180	5474899	1435	166.12	40	-45	2012	Altair	Kena-GM	DDH
12NESP-01	479250	5476464	1472	233.17	54.7	-44.7	2012	Altair	Kena-GM	DDH
12NESP-02	478874	5477199	1339.7	135.64	90	-45	2012	Altair	Kena-GM	DDH
DL17001	477587.6561	5475256.875	1552.8	92.05	30	-45	2017	Prize Mining	Daylight	DDH
DL17002	477587.6561	5475256.875	1552.8	144.78	345	-45	2017	Prize Mining	Daylight	DDH
DL17003	477331.1627	5475451.071	1565.46	118.26	30	-45	2017	Prize Mining	Daylight	DDH
DL17004	477331.1627	5475451.071	1565.46	163.69	45	-65	2017	Prize Mining	Daylight	DDH
DL17005	477546.6896	5476127.336	1454.423	166.73	45	-45	2017	Prize Mining	Great EW	DDH
DL17006	477546.6896	5476127.336	1454.423	139.6	0	-45	2017	Prize Mining	Great EW	DDH
DL17007	477651.358	5475966.83	1507	191.41	30	-45	2017	Prize Mining	Great EW	DDH
DL17008	477559.2362	5475581.002	1500	152.1	26	-45	2017	Prize Mining	Daylight	DDH
DL17009	477859.1908	5475785.472	1587.6	172.52	29	-45	2017	Prize Mining	Great EW	DDH
DL17010	477918.206	5475652.667	1616.5	172.53	25	-45	2017	Prize Mining	Great EW	DDH
DL17011	477926.26	5475962.76	1623	182.27	0	-45	2017	Prize Mining	Great EW	DDH
DL17012	477965.43	5475078.87	1709.97	172.82	27.4	-43.4	2017	Prize Mining	Daylight	DDH
DL17013	477965.43	5475078.87	1709.97	154.84	345	-45	2017	Prize Mining	Daylight	DDH
DL17014	478262.78	5474941.06	1790.3	26.21	40	-45	2017	Prize Mining	Daylight	DDH
DL17015	478262.78	5474941.06	1790.3	124.05	40	-55	2017	Prize Mining	Daylight	DDH
DL17016	478262.78	5474941.06	1790.3	187.15	40	-87	2017	Prize Mining	Daylight	DDH
DL17017	478262.78	5474941.06	1790.3	166.73	10	-45	2017	Prize Mining	Daylight	DDH
DL17018	478564.15	5474672.8	1785.2	167.03	40	-45	2017	Prize Mining	Daylight	DDH

NI 43-101 Resource Estimate Page 162 of 162

AI assistant

Apex Resources Inc. — Regulatory Filings 2021

43828_rns_2021-07-23_c25c8e75-6771-4d7b-bed1-66476fd0a76c.pdf

NI 43-101

RESOURCE ESTIMATE FOR THE KENA AND DAYLIGHT PROPERTIES

Certificate of Qualified Person

Amended Date: 19 July 2021

TABLE OF CONTENTS

Apex Resources Inc Kena Project

Apex Resources Inc Kena Project

Summary

1.1 Introduction

Apex Resources Inc Kena Project

1.2 Terms of Reference

1.3 Project Description and Location

Location

Mineral Tenure

1.4 Accessibility, Climate, Local Resources, Infrastructure and Physiography

Physiography

Accessibility

Climate

1.5 History

1.6 Geological Setting and Mineralization

Apex Resources Inc Kena Project

1.7 Exploration

1.8 Drilling

Apex Resources Inc Kena Project

1.9 Sampling and Analysis

1.10 Data Verification

Apex Resources Inc Kena Project

1.11 Environmental Studies, Permitting and Social or Community Impact

1.12 Conclusions and Recommendations

Table 1-2 Recommended Exploration Program

1.13 Abbreviations

Apex Resources Inc Kena Project

Introduction

2.1 Introduction

2.2 Terms of Reference

2.3 Qualified Persons

2.4 Site Visits and Scope of Personal inspection

2.5 Effective Dates

2.6 Information Sources

Reliance on Other Experts

3.1 Mineral Tenure

Property Description and Location

4.1 Introduction

4.2 Property and Mineral Title in British Columbia

Apex Resources Inc Kena Project

Apex Resources Inc Kena Project

4.3 Project Ownership

Janout Option

Bourdon Option

Denny Option

Daylight Option

Addie Option

4.4 Mineral Tenure

Apex Resources Inc Kena Project

Apex Resources Inc Kena Project

Apex Resources Inc Kena Project

Apex Resources Inc Kena Project

Table 4-2 Daylight Property Claims and Tenure

Apex Resources Inc Kena Project

Daylight Property Crown Grants

Accessibility, Climate, Local Resources, Infrastructure and Physiography

5.1 Physiography

5.2 Accessibility

5.3 Climate

5.4 Local Resources and Infrastructure

History

6.1 Kena Property

Historic Kena Property

1974 Ducanex Resources Ltd.

1975 Lacanex Mining Company Ltd.

1976-77 Quintana Minerals Corporation

1981-82 Kerr Addison Mines Ltd.

1985 Lacana Mining Corporation

1986 Lacana Mining Corporation

1987 Tournigan Mining Exploration Ltd.

1989 Golden Lake Resources Ltd.

1990-91 Noramco Mining Corporation

Apex Resources Inc. Regulatory Filings 2021