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Ibero Mining Corp. Regulatory Filings 2021

Mar 3, 2021

47469_rns_2021-03-02_cfd75086-0373-4f2c-a001-6aab7612e070.pdf

Regulatory Filings

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NI 43-101 TECHNICAL REPORT

on the SCOTTIE WEST PROJECT Stewart area, British Columbia

NTS: 104B/01

Latitude 56°11’N Longitude 130°14’W UTM: 423000mE, 6225700mN, Nad 83 Zone 9 Skeena Mining Division

Site visit on October 4, 2020

==> picture [469 x 172] intentionally omitted <==

For

Goldplay Mining Inc. Suite 650 - 1021 West Hastings Street, Vancouver, British Columbia Canada V6E 0C3

By

Jean Pautler, P.Geo. JP Exploration Services Inc. #103-108 Elliott Street Whitehorse, Yukon Y1A 6C4

January 18, 2021

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1.0 Executive Summary

The Scottie West Project (the “Project”) is located at latitude 56°11'N and longitude 130°14'W on NTS map sheet 104B/01, approximately 32 km north-northwest of the community of Stewart, northwestern British Columbia. The 6,359 hectare Project comprises four contiguous mineral tenures within the Skeena Mining Division, which are 100% owned by Roughrider Exploration Limited (“Roughrider”) of Vancouver, British Columbia, subject to an option agreement with Industria Metals Inc. (name changed to Goldplay Mining Inc. (“Goldplay”) on November 30, 2020). This report was prepared to comply with Goldplay’s obligations pursuant to NI 43-101. Access to the Project is by helicopter from Stewart, British Columbia.

Regionally the Project is situated within Stikinia, a predominantly intra-oceanic island arc terrane, accreted to ancestral North America in the Early Mesozoic. More specifically, the Project lies within the Golden Triangle of northwest Stikinia, which hosts some of the world’s largest and richest mineral deposits. These include gold rich deposits such as Eskay Creek, Brucejack, Premier (22 km southeast of the Project), Snip, and copper-gold rich deposits such as KSM, Galore Creek, Red Chris and Granduc. Deposits are typically Early Jurassic in age. Mineralization on the abovementioned occurrences is not necessarily indicative of the mineralization on the Scottie West Project, which is the subject of this report.

The Scottie West Project is primarily underlain by Lower to Middle Jurassic Hazelton Group rocks, an arc related volcano-sedimentary package, which are intruded by two granodiorite suites, part of the Eocene Boundary stock of the Coast Plutonic Complex in the southwest property area and the western portion of a stock of the Early Jurassic Texas Creek plutonic suite in the southeast property area.

Very little historical work has been completed on the Project area primarily due to extensive glacier cover, which has been rapidly melting back since the late 1980's, when the majority of the historical work was undertaken in the region. Historical work in the immediate vicinity focused principally on the past producing Scottie Gold gold-silver mine, 10 km to the northeast of the Project, and the Granduc base metal mine, 7 km to the northwest. An airborne magnetic geophysical survey, of which approximately the western 15% of the survey is now located within the current Scottie West Project, was completed in 2012. It was combined with an adjoining survey over the Scottie Gold Mine property in 2016 (Poon, 2016) . The combined survey, which covers approximately 25% of the Project, highlighted several prominent northerly to north-northwesterly and southwesterly trending features which appear to have a spatial association with mineral occurrences on the adjoining ground .

The Project was staked in May, 2020 to cover favourable geology, as mapped by the British Columbia Geological Survey (“BCGS”), including Jurassic Hazelton volcanic rocks and Jurassic Texas Creek and Eocene aged intrusions, which also host numerous mineral occurrences and past producing mines throughout the Golden Triangle. Included are Ascot Resources’ Premier mine, 22 km southeast of the Project, and Scottie Resources Corp.’s Scottie Gold mine, within the Stewart mining camp.

Work by Roughrider, which acquired the Project, has included an airborne magnetic and electromagnetic geophysical survey over the eastern two thirds of the Project and a one day aerial reconnaissance and limited prospecting and geochemical sampling program

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during which 1 soil, 1 silt and 8 rock samples were collected. No work has been completed by Industria Metals Inc. (“Industria”) or Goldplay. The Project is at an early exploration stage.

There are no known showings or Minfile occurrences, as documented by the BCGS, on the Scottie West Project, probably due to the expanse of glacial ice. The glaciers have recently melted back, exposing extensive veining and numerous gossans, which were observed in the southeastern property area (“Southeast Exposure”) during the site visit by the author on October 4, 2020. Of particular note was an approximate at least 600m by 100m gossanous section with quartz veins within the Eskay rift. Many of the veins appear to be 30 cm thick, are locally folded with en echelon tension gashes evident which appear to document a period of thrust faulting and hydrothermal fluid activity. Tension gashes suggest top-to-the-east shear thrust sense (common in the Cordillera) along a sub-horizontal shear plane. Additional folded veins and tension gashes, as well as a dyke, are evident proximal to the eastern boundary of the Eskay rift. Additional veins and gossans are evident across the Southeast Exposure, some of which were sampled in 2020.

In the 2020 program, pyritic, sericite altered argillite host rock with limonitic fracture fillings yielded 1.01 g/t Au with 610 ppm As and 5.45 ppm Sb and a few veins returned elevated arsenic values. Due to the limited number of samples collected within one small section of the property, limited time spent in collection and the widespread gossans and veins observed the results obtained are significant. The 2020 geophysical survey outlined significant structures and anomalies, requiring further interpretation.

A potential model for mineralization on the Project is the intrusion-related gold pyrrhotite vein type, which is the deposit model postulated for the nearby past producing Scottie Gold and possibly the Premier mines. The mineralization on these properties has not been verified by the author and is not necessarily indicative of the mineralization on the Scottie West Project, which is the subject of this report.

The Scottie West Project constitutes a property of merit based on: proximity to the past producing Scottie Gold and Premier mines, presence of favourable geology consisting of a stock of the Texas Creek plutonic suite within an area underlain by coeval volcanic and related sedimentary rocks of the Betty Creek Formation, presence of extensive gossanous and bull quartz veins including en echelon tension gashes, and evidence of significant structures and untested geophysical targets.

Exploration is recommended on the Project to: evaluate the extensive veining and numerous gossans observed in the southeastern property area during the 2020 field program; assess the additional unexplored areas exposed by retreating ice fields; and compile, integrate and interpret the combined historical and 2020 airborne geophysical surveys, and follow up the geophysical anomalies obtained. Consequently, a Phase 1 exploration program of compilation, integration and interpretation of the airborne geophysical surveys, satellite imagery acquisition and GIS base map preparation, drone imagery and magnetic surveying, geological mapping, structural mapping and analysis, prospecting and sampling, contour talus fine geochemical sampling, extensive rock chip sampling, and select reconnaissance IP lines with a budget of $425,000 is recommended. Contingent on results from Phase 1, a $950,000 Phase 2 diamond drill program is proposed to follow up significant anomalies obtained.

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Table of Contents

Table of Contents
Page
Title Page
.................................................................................................................................. 1
1.0 Executive Summary. .......................................................................................................... 2
Table of Contents .......................................................................................................................... 4
List of Illustrations ........................................................................................................................ 5
List of Tables ................................................................................................................................. 5
List of Photos ................................................................................................................................ 5
2.0 Introduction and Terms of Reference .............................................................................. 6
2.1 Qualified Person, Participating Personnel and Scope .............................................. 6
2.2 Terms, Definitions and Units ..................................................................................... 6
2.3 Source Documents.................................................................................................... 7
3.0 Reliance on Other Experts ................................................................................................ 7
4.0 Property Description and Location .................................................................................. 8
4.1 Location ..................................................................................................................... 8
4.2 Land Tenure ............................................................................................................ 10
5.0 Accessibility, Climate, Local Resources, Infrastructure & Physiography ................. 11
5.1
Access, Local Resources and Infrastructure .......................................................... 11
5.2 Physiography, Climate and Infrastructure ............................................................... 12
6.0 History ............................................................................................................................... 12
7.0 Geological Setting and Mineralization ........................................................................... 15
7.1 Regional Geology .................................................................................................... 15
7.2 Property Geology .................................................................................................... 19
7.3
Mineralization .......................................................................................................... 22
8.0 Deposit Type .................................................................................................................... 24
9.0 Exploration ....................................................................................................................... 26
9.1
Geochemistry ......................................................................................................... 26
9.2
Geophysics ............................................................................................................ 28
10.0 Drilling ............................................................................................................................... 32
11.0 Sample Preparation, Analyses and Security ................................................................. 32
12.0 Data Verification ............................................................................................................... 33
13.0 Mineral Processing and Metallurgical Testing .............................................................. 33
14.0 Mineral Resource Estimates ........................................................................................... 33
23.0 Adjacent Properties ......................................................................................................... 33
24.0 Other Relevant Data and Information ............................................................................ 36
25.0 Interpretation and Conclusions ...................................................................................... 36
26.0 Recommendations and Budget ...................................................................................... 37
26.1 Budget .................................................................................................................... 38
Signature Page ............................................................................................................................ 40
27.0 References ........................................................................................................................ 41
Certificate of Qualified Person ................................................................................................... 43

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List of Illustrations

List of Illustrations
Page
Figure 1: Location Map ........................................................................................... 8
Figure 2: Claim Map ............................................................................................... 9
Figure 3: Historical Geophysics ............................................................................ 14
Figure 4: Tectonic Setting ..................................................................................... 15
Figure 5: British Columbia’s Golden Triangle ....................................................... 16
Figure 6: Regional Geology .................................................................................. 18
Figure 7: Property Geology .................................................................................. 21
Figure 8: Southeast Exposure Satellite Image, view looking northerly................. 27
Figure 9: Total Magnetic Intensity Airborne Magnetic Map .................................. 29
Figure 10: Calculated Vertical Gradient Airborne Magnetic Map ........................... 30
Figure 11: Preliminary Unlevelled Electromagnetic Map ........................................ 31
Figure 12: Adjacent Properties ............................................................................... 35
List of Tables
Table 1: Claim data summary ............................................................................. 10
Table 2: Option agreement summary .................................................................. 10
Table 3: Regional stratigraphy ........................................................................... 17
Table 4: 2020 sample descriptions and select results ....................................... 27
List of Photos
Cover photo: Folded veins in Southeast Exposure, view looking northeasterly ........... 1
Photo 1: Dykes in Southeast Exposure, view looking northwesterly ................... 20
Photo 2: Eastern fault boundary of Eskay rift, view looking northerly ............... 20
Photo 3: Gossanous vein zone in Southeast Exposure ...................................... 23
Photo 4: En echelon tension gashes, view looking northerly ............................ 23
Photo 5: Dyke, folded veins and tension gashes, view looking northeasterly .. 23
Photo 6: Gossans in Southeast Exposure, view looking northerly ..................... 24

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2.0 INTRODUCTION AND TERMS OF REFERENCE

2.1 Qualified Person, Participating Personnel and Scope

Ms. Jean M. Pautler, P.Geo. of JP Exploration Services Inc. (“JPEx”) was commissioned by Industria Metals Inc. (name change to Goldplay Mining Inc. on November 30, 2020), a company duly incorporated under the laws of the Province of British Columbia, to examine and evaluate the geology and mineral potential of the Scottie West Project and to make recommendations for the next phase of exploration work in order to test the resource potential of the property. Based on the literature review and property examination recommendations are made for the next phase of exploration work. An estimate of costs has been made based on current rates for mapping, prospecting, soil and rock geochemical surveys, and professional fees in northwestern British Columbia. This report describes the geology, previous exploration history and mineral potential of the Project. Regional geological data and current exploration information have been reviewed to determine the geological setting of the mineralization and to obtain an indication of the level of industry activity in the area. This report was prepared to comply with the obligations of Goldplay pursuant to NI 43-101.

The report describes the property in accordance with the guidelines specified in National Instrument 43-101 and is based on historical information, a review of recent exploration in the area, and a site visit by the author on October 4, 2020 during the latest exploration program on the Project at which time an aerial overview of vein occurrences was conducted and some accessible veins were sampled.

2.2 Terms, Definitions and Units

All costs contained in this report are denominated in Canadian dollars. Distances are reported in metres (m) and kilometres (km). GPS refers to global positioning system with co-ordinates reported in UTM grid, Zone 9, Nad 83 projection. Minfile refers to documented mineral occurrences on file with the British Columbia Geological Survey. DDH refers to diamond drill hole. TMI refers to the total magnetic intensity and CVG refers to the calculated vertical gradient of the magnetic field, which is useful in the delineation of structures. EM refers to an electromagnetic type of geophysical survey useful in the detection of conductors.

The term ppm refers to parts per million, which is equivalent to grams per metric tonne (g/t) and ppb refers to parts per billion. The abbreviation oz/ton and oz/t refers to troy ounces per imperial short ton. The symbol % refers to weight percent unless otherwise stated. The annotation 020º/55ºE refers to an azimuth of 020º, dipping 55º to the east. Ma refers to a million years in geological time.

Elemental abbreviations used in this report include gold (Au), silver (Ag), arsenic (As), antimony (Sb), copper (Cu), and lead (Pb). Minerals found on the property include pyrite (iron sulphide), limonite and goethite (iron oxides) and possible galena.

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2.3 Source Documents

Sources of information are detailed below and in section 27.0, “References”, and include available public domain information and private company data.

  • Research of the Minfile data available for the area on November 7, 2020 at http://minfile.gov.bc.ca/searchbasic.aspx.

  • Research of mineral titles on November 6, 2020 at http://www.mtonline.gov.bc.ca and https://www2.gov.bc.ca/gov/content/industry/mineral-exploration-mining/british-columbiageological-survey/mapplace. *

  • Review of company reports and annual assessment reports filed with the government at http://aris.empr.gov.bc.ca/.

  • Review of geological maps and reports completed by the British Columbia Geological Survey or its predecessors and the Geological Survey of Canada.

  • Review of published scientific papers on the geology and mineral deposits of the region and on mineral deposit types.

  • Review of: publicly available and company data of Roughrider Exploration Limited (“Roughrider”) including a review of the exploration programs; and publicly available data on Industria and Goldplay.

  • Review of the option agreement between Roughrider and Industria (name changed to Goldplay on November 30, 2020) on November 20, 2020. *

  • Site visit on the property by the author on October 4, 2020 during the latest exploration program on the Project.

  • The author has previous independent experience and knowledge of the regional area having conducted exploration, including property examinations, within the Golden Triangle of northwest British Columbia for Teck Exploration Ltd. and Equity Engineering Ltd. (now Equity Exploration Ltd.) The author has visited the Premier, Eskay Creek and Snip past producing mines, and other deposits and showings within the Golden Triangle.

  • A review of the websites and pertinent news releases of Industria, Roughrider and of other companies conducting work in the regional area.

Title documents and option agreements were reviewed for this study as identified with an asterisk (*) above. The title and option information were relied upon to describe the ownership of the property and claim and option summaries in Section 4.2, “Land Tenure”.

3.0 RELIANCE ON OTHER EXPERTS

This section is not relevant to this report since there is no reliance on other experts.

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4.0 PROPERTY DESCRIPTION AND LOCATION

4.1 Location (Figure 1)

The Scottie West Project is centred at an approximate latitude of 56°11'N and longitude of 130°14'W on NTS map sheet 104B/01, about 35 km north-northwest of the community of Stewart, northwestern British Columbia (Figure 1) . Stewart, located at the head of the Portland Canal, is about 65 km by paved highway (Highway 37A) southwest of Meziadin Junction, British Columbia, a prominent highway junction along the StewartCassiar Highway (Highway 37) (Figure 1) .

==> picture [475 x 447] intentionally omitted <==

----- Start of picture text -----

YUKON N
BRITISH COLUMBIA
37
DEASE LAKE
SCOTTIE WEST 37A
PROJECT
MEZIADIN JUNCTION
STEWART
37
S MIT HERS
PRINCE RUPERT
TERRACE PRINCE GEORGE
KITIMAT
97
WILLIAMS LAKE
LEGEND
routes
community
1
port
VANCOUVER
VICTORIA
GOLDPLAY MINING INC.
FIGURE 1: LOCATION 0 400
NTS: 104B
JPEx November 7, 2020 km
----- End of picture text -----

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==> picture [677 x 509] intentionally omitted <==

----- Start of picture text -----

BEND
JK
Powerline
GRANDUC NORTH
"
SCOTTIE GOLD
DOMINO
" Granduc
GRANDUC
road
SOUTH Glacier 1076132 Summit
Lake
Mt. White-Fraser
SCOTTIE
To
STEWART
WEST HOLLYWOOD
outside property boundary
N
GOLDPLAY MINING INC.
BIG MISSOURI "
FIGURE 2: CLAIM MAP
SCOTTIE WEST PROJECT
MINFILE SHOWINGS
5 km "
past producer prospect
from:http://apps.empr.gov.bc.ca/pub/mapplace/mp2
developed prospect showing Haul
JPEx November 21, 2020 3 km to PREMIER road
----- End of picture text -----

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4.2 Land Tenure

(Figure 2, Tables 1 and 2)

The Project consists of four contiguous mineral tenures covering an area of approximately 6,359 hectares in the Skeena Mining Division (Figure 2 and Table 1) . The area is approximate since the claims have not been legally surveyed. All claims were acquired in accordance with Mineral Titles Online on NTS map sheet 104B/01, available for viewing at http://www.mtonline.gov.bc.ca. The tenures comprising the Project are registered to Roughrider Exploration Limited of Vancouver, British Columbia (owner number 286868). A table summarizing pertinent claim data follows.

TABLE 1: Claim data summary

Title No. Claim Name Issue Date Good to date Area(ha)
1076132 SCOTTIE WEST 1 2020/MAY/10 2021/MAY/10 1638.9889
1076133 SCOTTIE WEST 2 2020/MAY/10 2021/MAY/10 1801.1164
1076134 SCOTTIE WEST 3 2020/MAY/10 2021/MAY/10 1549.1343
1076135 SCOTTIE WEST 4 2020/MAY/10 2021/MAY/10 1369.579
TOTAL 6,358.8186

All claims are subject to an option and joint venture agreement dated November 20, 2020 (Closing Date), whereby Industria Metals Inc. (name changed to Goldplay Mining Inc. on November 30, 2020) can earn a 70% interest in the property from Roughrider through a series of staged payments, shares and completion of exploration expenditures over a four year term, totaling $500,000 cash, $500,000 in shares and $1,000,000 in exploration expenditures. Upon exercise of the option Goldplay will have thereby acquired a 70% interest in the Property, and the parties will be deemed to have formed a Joint Venture. The option agreement is subject to a 2% net smelter return (NSR) royalty to Roughrider with a buy-out provision on half (1%) of the NSR royalty for $2.0 million. Goldplay will be the sole operator of the Project. A summary of the option agreement follows.

TABLE 2: Option agreement summary

Timing $ Cash $ Equivalent inShares $ Expenditures
within 5 days* after closing 25,000 25,000**
First anniversary 25,000 50,000 200,000
Second anniversary 50,000 75,000 100,000
Third anniversary 150,000 150,000 300,000
Fourth anniversary 250,000 200,000 400,000
TOTAL $500,000 $500,000 $1,000,000
  • refers to 5 business days ** deemed price of 0.005/share

The Scottie West Project is not located within the Traditional Territory of any First Nation as identified in the Statements of Intents of the First Nations. The land in which the mineral claims are situated is Crown Land. The mineral claims fall under the jurisdiction of the British Columbia Government. Under the provision of Section 14 of the Mineral Tenure Act, a claim grants the holder the right to use the surface for mining exploration purposes, but this is not a "surface right" such as on privately owned land. The claim holder has the right to enter onto the surface subject to the provisions in Section 11(2) of the Act which excludes this right under certain conditions, none of which encumber the Scottie West Project.

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A mineral claim holder is required to perform assessment work and is required to document this work to maintain the title as outlined in the regulations of the British Columbia Ministry of Energy and Mines. The amount of work required is $5.00 per hectare for the first two years, $10.00 per hectare for the third and fourth years, $15.00 per hectare for the fifth and sixth, and $20.00 per hectare thereafter. Alternatively, the claim holder may pay twice the equivalent amount to the British Columbia Government as “Cash in Lieu” to maintain title to the claims.

Preliminary exploration activities do not require permitting, but significant drilling, trenching, blasting, cut lines, and excavating may require a permit, obtained by filing a Notice of Work and Reclamation with the British Columbia Ministry of Energy and Mines. A permit is not currently in place for the Scottie West Project, but will be applied for as required. A permit is not required for the recommended exploration program on the Project.

To the author’s knowledge, the Scottie West Project area is not subject to any environmental liability. The author does not foresee any significant factors and risks that may affect access, title, or the right or ability to perform work on the property.

5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY (Figures 1 and 2)

5.1 Access, Local Resources and Infrastructure

Stewart is the closest community to the Project and is accessible 65 km southwest from the paved Stewart-Cassiar Highway (Highway 37) via paved Highway 37A (Figure 1) . Highways 37 and 37A connect Stewart to Terrace and Smithers, cities with populations of 11,500 and 5,300, respectively ( Figure 1) . Travel time to Terrace or Smithers is approximately 3½ hours by vehicle from which there is daily air service to Vancouver. Helicopter is required to access the property with several bases available in Stewart. The closest road access to the Project is about 12 km from the gravel surfaced Granduc road from Stewart, which goes through the town of Hyder, Alaska, and back into British Columbia.

Stewart has a population of about 500 with facilities including a gas station, two grocery stores, a health clinic/hospital and doctor, a police station, accommodation and restaurants, a deep water ice-free port, a concentrate loading facility, an airstrip, a local airbase from which charter helicopters are available, freight services, contractors (construction, electrical, welding, heavy equipment, diamond drilling), and a small mining oriented labour force (Figure 1) . Stewart is Canada's most northerly ice-free port and a hub for mining activity in northwestern British Columbia.

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5.2 Physiography, Climate and Infrastructure

The Project covers Mount White-Fraser, situated within the Boundary ranges of the Coast Mountains (Figures 1 and 2) . The area is drained by the Salmon and Leduc River watersheds, which flow into the Pacific Ocean. Abundant water is available for exploration and mining from melting glacial ice and snow.

The topography is rugged with elevations ranging from 1150m in the southwest property area to just over 2400m in the south-central property area. Most of the Project is covered by glacial ice with steep, isolated exposures of bedrock along glacier margins and cirque headwalls. The Project lies above treeline, with sparsely vegetated exposures consisting of grass, moss and lichens.

The Project is located in the marine west coast climate zone of western North America within which most weather fronts originate in the Pacific Ocean and travel eastward over the Coast Mountains resulting in high precipitation, much of which falls as snow in the winter months. The climate is characterized by mild summers (daily averages of around 10 to 15°C) and cool winters (average temperatures of -5 to -10°C), but temperatures can drop below −20 °C with wind chill factors below −30 °C. The exploration season generally extends from late June to late September, but is dependant on the previous year’s snowfall. Total annual precipitation in Stewart is about 1840 millimetres.

Although there do not appear to be any topographic or physiographic impediments, and suitable lands appear to be available for a potential mine, including mill, tailings storage, heap leach and waste disposal sites, engineering studies have not been undertaken and there is no guarantee that areas for potential mine waste disposal, heap leach pads, or areas for processing plants will be available within the subject property. The nearest source of hydroelectric power is the Premier mine mill site, approximately 25 km southeast of the Scottie West Project. The Brucejack mine extension of the Northwest Transmission Line lies about 10 km west of the Project.

6.0 HISTORY (Figures 2 and 3)

Very little historical work has been completed on the Project primarily due to extensive glacier cover, which has been rapidly melting back since the late 1980's, when the majority of the historical work was undertaken in the region. Historical work in the immediate vicinity focused principally on the past producing Scottie Gold gold-silver mine to the northeast and the Granduc base metal mine to the northwest of the Project.

A summary of the historical work completed by various operators on the Scottie West Project (unless stated otherwise), as documented in British Columbia Minfile, reports on file with the government (e.g. Annual Reports of, and assessment reports filed with, the British Columbia Ministry of Energy and Mines and publications of the Geological Survey of Canada) and various private company data, is summarized below. The

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locations of known mineralized zones, anomalies and important natural features are shown in Figures 2 and 3 in relation to the outside property boundaries, and in Figure 8.

A 332.5 line km helicopter-borne magnetic geophysical survey, of which approximately the western 15% of the survey is now located within the current Scottie West Project was completed by Eilat Resources at a 150m line spacing (Ramsey, 2013) . A smaller airborne magnetic and spectral survey was flown in 2016 on behalf of Eilat within the current Scottie Gold Mine property and integrated with the 2012 survey (Poon, 2016) . The 2016 survey was not undertaken on the current Scottie West Project area, but trends from this survey extend onto, and relate to, and the resultant compilation extends onto, the Project. The survey highlighted several prominent north-northwesterly and southwesterly trending features which appear to have a spatial association with mineral occurrences (Figure 3) . Mineralized occurrences shown on the adjoining properties of Scottie Resources Corp. are not necessarily indicative of mineralization on the Scottie West Project, which is the subject of this report.

The Scottie Gold past producing mine is shown at the intersection of a northerly trending interpreted structure with a southwesterly trending interpreted structure (Figure 3) . The latter extends southwesterly onto the eastern Scottie West Project, where it may intersect a northerly trending structure, which has been interpreted further north. This area was found to be underlain by local gossans and veins during the site visit by the author on October 4, 2020 which will be discussed in more detail under section 9.0, “Exploration”.

The Project was staked by Cazador Resources Ltd. (“Cazador”) in May, 2020 to cover favourable geology, as mapped by the BCGS, including Jurassic Hazelton volcanic rocks and Jurassic Texas Creek and Eocene aged intrusions, which also host numerous mineral occurrences and past producing mines throughout the Golden Triangle. Included are Ascot Resources’ Premier mine, 22 km southeast of the Project, and Scottie Resources Corp.’s Scottie Gold mine, within the Stewart mining camp.

The claims comprising the Project were sold to Roughrider in June, 2020. Work by Roughrider has included a 474 line kilometre helicopter-borne magnetic and EM survey over the eastern two thirds of the Project by Precision GeoSurveys Inc. ("Precision") from September 14 to 16, 2020 and an aerial reconnaissance and limited geochemical sampling were conducted on October 4, 2020. The details and results of the programs will be discussed under section 9.0, “Exploration” for integration purposes.

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==> picture [678 x 506] intentionally omitted <==

----- Start of picture text -----

GOLDPLAY MINING INC. N
FIGURE 3
HISTORICAL CVG GEOPHYSICS
SCOTTIE WEST PROJECT
after Poon, 2016 JPEx Nov, 2020
from:
https://www.roughrider
exploration.com/.
Goldplay Mining Inc.’s
Geology:
Scottie Resources Corp.’s properties
----- End of picture text -----

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7.0 GEOLOGICAL SETTING AND MINERALIZATION

7.1 Regional Geology (Figures 4 to 6, Table 3)

The Project is located in the northwestern portion of Stikinia, a predominantly intraoceanic island arc terrane accreted to ancestral North America in the Early Mesozoic (Figure 4) .

==> picture [469 x 414] intentionally omitted <==

----- Start of picture text -----

N
CC
GOLDEN TRIANGLE
♦ Brucejack
SCOTTIE WEST
GOLDPLAY MINING INC.
FIGURE 4
TECTONIC SETTING
SCOTTIE WEST PROJECT
after Colpron and Nelson, 2011
JPEx November, 2020
----- End of picture text -----

More specifically, the Project lies within the Golden Triangle of northwest Stikinia (Figures 4 and 5) , which hosts some of the world’s largest and richest mineral deposits. These include gold rich deposits such as Eskay Creek, Brucejack, Premier, Snip, and coppergold rich deposits such as KSM, Galore Creek, Red Chris and Granduc. Deposits are typically Early Jurassic in age. Many of the gold rich deposits occur as veins, stockworks and lesser breccias associated with the Late Triassic and Early Jurassic intrusive suites. Mineralization on the above-mentioned occurrences is not necessarily indicative of the mineralization on the Scottie West Project, which is the subject of this report.

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----- Start of picture text -----

from: https://thedeepdive.ca/the-golden-triangle-
british-columbias-exploration- hotbed/ July 19, 2020
N
ALASKA BC
BRITISH
SCOTTIE WEST
COLUMBIA
Copper-gold rich
Gold rich
----- End of picture text -----

FIGURE 5: BRITISH COLUMBIA’S GOLDEN TRIANGLE

The Stewart area was mapped by the British Columbia Geological Survey (“BCGS”) at a 1:31,680 scale by Grove (1971) who also mapped a larger area, encompassing the Unuk – Salmon Rivers and Anyox area at 1:1,000,000 scale (Grove, 1986) . The Stewart mining camp was then mapped by the BCGS at a 1:50,000 scale by Alldrick (1993). A digital compilation of the Nass-Skeena area, which includes the regional area, was published by the BCGS (MacIntyre et al., 1994) . Mapping by Lewis et al. (2001) of the Iskut River area just to the north, in which the Hazelton stratigraphy was revised, for the Mineral Deposit Research Unit (“MDRU”) was re-released in a GIS format by Geoscience BC and MDRU (Lewis, 2013) . The data was incorporated into a digital compilation of British Columbia by Cui et al. (2017). The Hazelton Group stratigraphy was recently revised by Nelson et al. (2018). The following discussion of the regional geology is primarily based on Alldrick (1993), using the revised stratigraphy of Nelson et al. (2018).

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In the regional area (Figure 6) , Stikinia comprises Mesozoic arc volcano-sedimentary successions and coeval plutonic complexes, and is intruded by the Coast Plutonic Complex to the west and overlain by marine to non-marine clastic rocks of the Jurassic to Cretaceous Bowser Lake Group in the east.

Upper Triassic to Lower Jurassic rocks of the Hazelton Group, which formed in an island-arc setting, dominate Stikinia within the south to central regional area. They primarily consist of subaerial calc-alkaline basalts, andesites, and dacites with interbedded sedimentary rocks. The Hazelton Group has been divided into a lower and upper part as outlined in Table 3, below.

The Stuhini Group, a succession of Upper Triassic rocks comprising a mixed arc related volcano-sedimentary package becomes more dominant further to the north in the regional area, exposed to the west of the South Unuk fault and in the core of the McTagg anticlinorim (Figure 6) .

Table 3: Regional Stratigraphy

==> picture [466 x 263] intentionally omitted <==

Within the Stewart-Iskut region Stikinia has been intruded by several major plutonic suites: the Early Jurassic calc-alkaline Texas Creek suite associated with economically important precious metal vein deposits such as the Premier and Snip past producers, and the Brucejack mine, as well as the KSM (Kerr-Sulphurets-Mitchell) porphyry deposit; and the Paleogene Sloko-Hyder suite in the west.

Early Jurassic calc-alkaline hornblende granodiorite plutons of the Texas Creek plutonic suite are coeval with the Betty Creek Formation of the Lower Hazelton Group. Related late-stage, two-feldspar porphyritic dykes (locally called “Premier Porphyries”) cut up through the volcanic sequence to feed surface flows.

18

==> picture [275 x 128] intentionally omitted <==

----- Start of picture text -----

N
McTagg
anticlinorium
KERR, SULPHURETS, MITCHELL
KSM
BRUCEJACK
----- End of picture text -----

==> picture [104 x 78] intentionally omitted <==

----- Start of picture text -----

SCOTTIE
WEST
----- End of picture text -----

from: Voordouw, R. and Carr, I., 2019 geology modified from: Cui, et al., 2017

20 km GOLDPLAY MINING INC. Scottie West Property Projection: NAD83 Zone 9N Figure 6 JPEx November 20, 2020

19

Calc-alkaline biotite granodiorite of the Coast Plutonic Complex intruded the deformed arc rocks during the Paleogene. The plutons, stocks, and differentiated dykes of the Hyder plutonic suite, which lie just east of the main Coast Plutonic Complex, were emplaced over a 30 million year period from Early Eocene to Late Oligocene. The dykes, which include granodiorite porphyry, aplite, microdiorite and lamprophyre compositions, form prominent, but randomly distributed, swarms of regional extent.

Greenschist facies regional metamorphism, east-northeast compression, and deformation in the Mid Cretaceous produced upright north-northwest trending en echelon folds and later east verging, ductile reverse faults, and related foliation.

Five major fault types are described by Alldrick (1993) in the Stewart area: (1) regional scale north striking, sub-vertical, ductile to brittle faults; (2) northerly striking moderately west dipping normal and reverse faults; (3) southeast to northeast striking brittle, subvertical "cross" faults with strong but narrow foliation envelopes and up to a kilometre of lateral offset; (4) decollement surfaces or bedding plane slips near the base of the Iskut River Formation; and (5) mylonite bands at various orientations and up to a few metres wide at most.

7.2 Property Geology

(Figures 7 and 8 and Photos 1 to 2)

Since property scale mapping has not been undertaken over the Scottie West Project the BCGS mapping is used as a base in Figure 7. Mapping on the Project is hampered by extensive glacial ice, cliff faces, and talus cover.

The Project is primarily underlain by the Hazelton Group, an arc related volcanosedimentary package of latest Triassic to Middle Jurassic age. The Hazelton Group is intruded by two ages of granodiorite, part of the 5 by 25 km Eocene Boundary stock in the southwest property area, with a small related plug further to the east near the northern property boundary, and the western portion of a stock of the Texas Creek plutonic suite in the southeast property area.

The Hazelton Group on the property is thought to primarily consist of the Betty Creek Formation, with lesser possible Jack Formation, both of the Lower Hazelton Group, and minor Iskut River Formation of the Upper Hazelton Group. The Jack Formation is a basal siliciclastic unit that unconformably overlies the Stuhini Group, and is exposed along the margins of the McTagg anticlinorium (Figure 6) . It includes a basal granitoidclast conglomerate, quartz bearing arkose, siltstone and mudstone and would constitute the oldest rocks on the property (latest Triassic to Early Jurassic). Argillites were observed in the southeast property area near the projected anticlinal axis of the anticlinorium during the site visit by the author and were recorded in the latest exploration by Roughrider (Figure 8) . It is possible that the argillites are part of the Iskut River Formation, but they were observed to the east of the BCGS regionally mapped location of the Eskay rift, which is discussed below.

Intermediate volcanic rocks were also collected by Roughrider during the October 4, 2020 program and are shown on the BCGS maps to consist of the Unuk River andesite unit of the Betty Creek Formation. The youngest rocks on the property comprise basalt,

20

pillow basalt, and mafic dykes of the Willow Ridge mafic unit of the Iskut River Formation of the Upper Hazelton Group. They occur within a fault bounded belt referred to as the Eskay rift (Figure 7) . Nelson et al. (2018) states that, “All Middle Jurassic rocks that fill the Eskay rift are included in the Iskut River Formation.”

The 5 by 25 km Eocene Boundary stock consists of medium grained biotite granodiorite with sphene, ±hornblende. It underlies the southwestern property area near its northwestern extent. A small related plug lies further to the east near the northern property boundary. The centre of a 5 km diameter stock of coarse grained hornblende granodiorite of the Texas Creek plutonic suite, which also continues further south, lies just east of the Project with the western portion of the stock shown to underlie the southeast property area (Figure 7) . The western end of the southeastern exposure (“Southeast Exposure”) visited during the October 4, 2020 site visit by the author is underlain by an intrusion of unknown affinity.

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----- Start of picture text -----

Photo 1: Dykes in Southeast Exposure,
view looking northwesterly.
----- End of picture text -----

Light grey northeasterly trending dykes, which constitute a dyke swarm, were observed by the author in the central part of the Southeast Exposure (Photo 1) . They may be related to the Eocene Boundary stock ( EBO ), which is exposed about 4 km to the south or, alternatively, to the Texas Creek plutonic suite ( EJTCS ) which underlies the southeast property area about 2 km to the east (Figure 8) .

The northerly striking regional fault, forming the eastern boundary of the Eskay rift, is shown in the BCGS regional map to extend through a prominent gully (Photo 2) . The presence of argillite to the east of this may suggest the fault is further east or the argillites may be part of the Jack Formation.

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Photo 2: Eastern fault boundary of Eskay rift, view looking northerly.

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----- Start of picture text -----

TrJJ
diorite lJHBu
N GRANDUC NORTH lJHU
ESKAY RIFT Summit Lake stock"
Stuhini Group SCOTTIE GOLD
mJHvb lJHBu
"
GRANDUC lJHU
Hazelton Group
Summit
SOUTH lJHU
Hazelton Group Lake
lJHva Hazelton Group
lJHU
SCOTTIE
mJHvb
Glacier MuJHs
EBo
WEST Texas Creek lJHU
lJHva lJHU plutonic suite
outside property boundary
lJHU
Hazelton Group
Eocene Boundary stock "
GOLDPLAY MINING INC.
mJHvb: Iskut River Formation
FIGURE 7: PROPERTY GEOLOGY
Willow Ridge mafic unit
SCOTTIE WEST PROJECT lJHBu: Betty Creek Formation undivided
lJHU: Unuk River andesite unit
5 km
from:http://apps.empr.gov.bc.ca/pub/mapplace/mp2 lJHva: undivided andesitic volcanics
"
JPEx November 21, 2020 Betty Creek and/or Jack Fm PREMIER
----- End of picture text -----

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A northeast trending fault is suggested by the historical airborne magnetic geophysics to extend along near the top of the Southeast Exposure in the southeastern property area (Figure 3) .

A table of Intrusions and Formations follows:

Intrusive rocks:

Paleogene

EBo: Eocene Boundary stock: medium grained biotite granodiorite with sphene, +/hornblende, 50.8 +/- 2 Ma K/Ar hornblende age.

EJTCS: Texas Creek plutonic suite: Summit Lake (Berendon Glacier) or Texas Creek Stock: coarse-grained hornblende granodiorite, 192.8 +/- 2 Ma U/Pb zircon age; coeval with early Betty Creek volcanism

Stratified Rocks:

Late Triassic to Middle Jurassic

Hazelton Group:

Upper Hazelton Group:

mJHvb: Iskut River Formation: Willow Ridge mafic unit: basalt, pillow basalt, and mafic dykes; Eskay rift fill

Lower Hazelton Group:

lJHU: Betty Creek Formation - Unuk River unit : andesitic volcanic rocks: green and grey intermediate tuffs and flows, feldspar and hornblende phyric; local thick interbeds of fine grained sedimentary rocks; minor conglomerate and limestone

lJHva: andesitic volcanic rocks: undivided intermediate feldspar-hornblende phyric tuffs and flows with interbeds of sedimentary rocks, minor conglomerate and limestone; includes Jack and Betty Creek formations

7.3 Mineralization (Figures 2 and 8, cover photo and Photos 3 to 6)

There are no known showings or Minfile occurrences, as documented by the BCGS, on the Scottie West Project, probably due to the expanse of glacial ice, which has been rapidly melting back since the late 1980's, when the majority of the historical work was undertaken in the region. Furthermore, the historical work focused principally on the past producing Scottie Gold gold-silver mine to the northeast and the Granduc base metal mine to the northwest of the Project.

The Project was staked in May, 2020 to cover favourable geology, as mapped by the BCGS, including Jurassic Hazelton volcanic rocks and Jurassic Texas Creek and Eocene aged intrusions, which also host numerous mineral occurrences and past producing mines throughout the Stewart mining camp, including the past producing Premier (Ascot Resources Ltd.) and Scottie Gold mines (Scottie Resources Corp.) and other deposits within the Golden Triangle.

During the site visit by the author on October 4, 2020, extensive veining and numerous gossans were observed in the Southeast Exposure in the southeastern property area (Figure 2) , the only location that was accessible this late in the season. Of particular note was an approximate at least 600m by 100m gossanous section with quartz veins

23

within the Eskay rift (Photo 3) . The zone lies west of the dyke swarm shown in Photo 1, and was not accessible due to weather conditions. Photo locations are shown in Figure 8.

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----- Start of picture text -----

Photo 4
Cover Photo
----- End of picture text -----

Photo 3: Gossanous vein zone in Southeast Exposure, view looking northeasterly.

Many of the veins appear to be 30 cm thick, are locally folded (cover photo) with en echelon tension gashes evident (Photo 4). There appears to be top-tothe-east shear thrust sense (common in the Cordillera) along a sub-horizontal shear plane. The tension gashes probably document a period of thrust faulting and hydrothermal fluid activity.

Photo 4: En echelon tension gashes, view looking northerly.

==> picture [248 x 161] intentionally omitted <==

Additional folded veins and tension gashes, as well as a dyke, are evident proximal to the BCGS mapped (or projected) eastern boundary of the Eskay rift, from along the east side of Photo 2 (Photo 5) .

==> picture [431 x 208] intentionally omitted <==

Photo 5: Dyke, folded veins and tension gashes, view looking northeasterly.

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Other gossans within the Southeast Exposure can be seen to be related to structures (Photo 6) . This gossan is exposed further east of the “gossanous vein zone” shown in Photo 3. The structures observed in the upper left of photo and inset are fairly flat as interpreted for the structure in Photo 4.

==> picture [404 x 304] intentionally omitted <==

Photo 6: Gossans in Southeast Exposure, view looking northerly.

Additional veins and gossans are evident across the Southeast Exposure, some of which were sampled in 2020. These will be discussed under section 9.0, “Exploration”.

8.0 DEPOSIT TYPE

The Scottie West Project is at an early exploration stage so that a definitive deposit type for mineralization has not as yet been ascertained. Furthermore there is uncertainty and some debate as to the genesis of many of the large and high grade precious metal deposits within northwest Stikinia ranging from orogenic to transitional and epithermal veins with some unique variations, and copper-gold porphyry associations with alkalic to calc-alkalic intrusions.

A potential model for mineralization on the Scottie West Project is the intrusion-related gold pyrrhotite vein type, based on proximity to the past producing Scottie Gold and Premier mines, presence of a stock of the Texas Creek plutonic suite within an area underlain by coeval volcanic and related sedimentary rocks of the Betty Creek Formation,

25

presence of extensive gossanous and bull quartz veins including en echelon tension gashes, and evidence of significant structures.

Alldrick (1996) classified the past producing Scottie Gold (10 km northeast of the Project), Snip and Johnny Mountain mines into an intrusion-related gold pyrrhotite vein model. The past producing Premier mine, 22 km southeast of the Project, has been classified as being intermediate sulphidation epithermal type, but the intrusion-related gold pyrrhotite vein model has also been postulated. At Premier, mineralization occurs as veins, stockworks and breccias, locally with very high sulphide content, associated with the “Premier Porphyry” dykes of the Early Jurassic Texas Creek plutonic suite. The mineralization discussed above has not been verified by the author and is not necessarily indicative of the mineralization on the Scottie West Project, which is the subject of this report. “Most of the deposits in the Iskut region are related to the Hazelton Group (latest Triassic-Middle Jurassic) and affiliated intrusions.” (Nelson et al., 2018). The Texas Creek plutonic suite is subvolcanic to the Betty Creek Formation of the Hazelton Group. All of the aforementioned past producers lie within the Golden Triangle and all known deposits of this type are Early Jurassic in age.

The following is a description of the deposit model taken in whole or in part from Alldrick (1996). Specific examples from, or features of, the Scottie West Project are shown in italics.

This type of deposit typically occurs as parallel tabular to cymoid veins of massive sulphide and/or bull quartz-carbonate with native gold, electrum and chalcopyrite, which are emplaced in a set of en echelon fractures (evident on Project - see Photo 4) around the periphery of a subvolcanic pluton (a stock of the Texas Creek plutonic suite underlies the southeast property area) . The subvolcanic setting for these deposits is transitional between the setting for subvolcanic porphyry copper systems and for subvolcanic epithermal systems.

Two vein types may occur independently or together and may grade into each other along a single vein or may occur in adjacent, but separate veins. Veins comprise: massive fine grained pyrrhotite and/or pyrite; or massive bull quartz with minor calcite and minor to accessory disseminations, knots and crystal aggregates of sulphides. Some veins have undergone post-ore ductile and brittle shearing that complicates textural and structural interpretations.

Minerals include native gold, electrum, pyrite, pyrrhotite, sphalerite, galena, chalcopyrite, bornite, argentite, arsenopyrite, magnetite, ilmenite, tetrahedrite, tennantite, molybdenite, cosalite, chalcocite, tellurobismuthite, hessite, volynskite, altaite and native bismuth in a gangue of quartz, calcite, ankerite, chlorite, sericite, rhodochrosite, potassium feldspar and biotite.

Hostrocks are andesitic tuffs, turbidites or early intrusive phases around the periphery of phaneritic, locally porphyritic, granodiorite stocks and batholiths. Alteration occurs as narrow (4 cm) vein selvages and as moderate alteration haloes extending up to several

26

metres into the country rock. Alteration minerals include chlorite, sericite, pyrite, silica, carbonate, rhodochrosite, biotite, epidote, K-feldspar and ankerite.

Well defined faults and shears control the mineralization. Veins are peripheral to and spatially associated with porphyritic intrusive rocks which may host porphyry copper mineralization.

The mineralization discussed in this section has not been verified by the author and is not necessarily indicative of the mineralization on the Scottie West Project, which is the subject of this report.

9.0 EXPLORATION (Figures 2 and 8 to 11)

No exploration has been completed by Industria or Goldplay on the Scottie West Project. A total of more than $100,000 was spent on the Scottie West Project by Roughrider in 2020, which included an airborne magnetic and EM geophysical survey over the eastern two thirds of the Project and a one day prospecting/geochemical/aerial reconnaissance program. A site visit was completed by the author on the Project on October 4, 2020 during the latest exploration program conducted by Roughrider, at which time an aerial overview of vein occurrences was conducted and accessible veins were examined in the southeastern Project area, referred to as the “Southeast Exposure”. The geochemistry and geophysics completed by Roughrider are discussed under their respective sections below.

9.1 Geochemistry (Figures 2 and 8, Table 4)

A total of 1 soil, 1 silt and 8 rock samples were collected by Cazador for Roughrider on October 4, 2020 from the Southeast Exposure (Figure 2) in the southeast area of the Project. Samples were quickly grabbed due to poor weather conditions and are described with locations and select results in Table 4 and plotted on Figure 8.

All sample locations were recorded using hand-held GPS units. Sites were marked by flagging affixed to a rock on the ground and labelled with the sample number. The stream sediment sample consisted of coarse silt within a glacial meltwater channel, collected by hand and placed in a cloth bag (S842712) and the soil sample was collected from C horizon talus fines with a geotul and placed in an individual Kraft paper bag (S842711); both samples were collected by Cazador. Three rock samples were collected by Cazador (S842708-10) from the above area (accessed from a landing site at 425458mE, 6224690mN) and five samples were collected by the author from the margins of a gossan with veins, further east (accessed from a landing site at 425853mE, 6225235mN). All rock samples were placed in plastic rock sample bags and secured with zip ties.

27

==> picture [561 x 241] intentionally omitted <==

----- Start of picture text -----

GOLDPLAY MINING INC. N
from: approximate
https://www.arcgis.com/home/webscene/viewer.html property boundary
?layers=10df2279f9684e4a9f6a7f08febac2a9
fault JP area
JPEx November 23, 2020
Dyke swarm Samples
Photo 1 Eskay S842703--7
Rift
Gossanous vein Photos 2, 5 veins
Intrusion zone Photos 3-4 veins x x x x veins
S842712 EJTCS
S842711
x x
x veins
Gossan
apple green AT area
volcanics Photo 6 fault - minor volcanic S842708-10 argillite
fold axis?
----- End of picture text -----

Figure 8: Southeast Exposure Satellite Image, view looking northerly

Table 4: 2020 sample descriptions and select results

==> picture [694 x 240] intentionally omitted <==

28

Significant precious metal values were not obtained from the few quartz veins sampled, but pyritic, sericite altered argillite host rock with limonitic fracture fillings returned 1.01 g/t Au with 610 ppm As and 5.45 ppm Sb (Sample S842707). Three of the quartz vein samples yielded elevated arsenic values (Samples S842703, 05-06) and one ribboned quartz-carbonate vein returned elevated lead, suggestive of the presence of trace galena (Sample S842708). The soil and silt did not return significant precious or base metal results. They did contain elevated arsenic and antimony (trace indicator elements).

Due to the limited number of samples collected within one small section of the property, limited time spent in collection and the widespread gossans and veins observed the results obtained are significant. Extensive sampling is recommended in the next phase of exploration.

Analytical procedure is described under section 11.0, “Sample Preparation, Analyses and Security”.

9.2 Geophysics (Figures 9 to 11)

A 474 line kilometre helicopter-borne magnetic and EM survey was completed over the eastern two thirds of the Project (commencing from the claim boundary with Scottie Resources Corp.) by Precision GeoSurveys Inc. ("Precision") for Roughrider from September 14 to 16, 2020 (Precision, 2020) . The survey was completed at a 100m line spacing, using a Triumph AirTEM(tm) time-domain electromagnetic system and a high resolution caesium magnetometer to measure the Earth’s magnetic field intensity. Flight lines were oriented north-south with tie lines oriented east-west (shown in Figure 9) .

The magnetic data appeared to closely follow topography, so more processing/interpretation is required. Otherwise the total Magnetic Intensity (“TMI”) map (Figure 9) identifies a small plug related to the Eocene Boundary stock (“EBO”) in the southwestern survey area as a magnetic high, which is also illustrated in the Calculated Vertical Gradient (“CVG”) map (Figure 10) . The magnetic high signature through the northwest property area may be suggestive that the stock of the Texas Creek plutonic suite, exposed in the southeast property area (Figure 6) , continues through here beneath the Hazelton Group rocks mapped in this area. Coffin (1988) identified pendants of Hazelton Group argillite within the stock, along trend just east of the Project (Figure 9) .

The CVG is particularly useful in picking up structural features. Three faults are evident in the TMI map and are more apparent in the CVG map. One trends northeast across the northwestern property area and corresponds to a mapped fault by the BCGS (Figure 6) . An unmapped northwest trending fault is particularly evident in the CVG map (Figure 10) . It is interesting to note that this corresponds to an electromagnetic (“EM") high in the EM map (Figure 11) . A north trending fault, interpreted from the historical geophysics (Figure 3) , may be offset by the northwest fault. A northeast trending fault, also identified in the historical geophysics can be interpreted from the CVG map (Figure 10) . An interesting 600m diameter magnetic low “donut”, typical within porphyry type deposits, is situated beneath glacier cover in the central survey area and may be related to magnetite destruction related to alteration within a porphyry intrusion (Figure 10) .

29

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----- Start of picture text -----

DOMINO
Minfile
HOLLYWOOD
Minfile
EBO
outside property boundary
FIGURE 9: TMI MAGNETIC MAP
----- End of picture text -----

30

==> picture [720 x 481] intentionally omitted <==

----- Start of picture text -----

DOMINO
Minfile
HOLLYWOOD
low Minfile
EBO
outside property boundary
FIGURE 10: CVG MAGNETIC MAP
----- End of picture text -----

31

==> picture [716 x 479] intentionally omitted <==

----- Start of picture text -----

DOMINO
Minfile
high
HOLLYWOOD
Minfile
outside property boundary
FIGURE 11: ELECTROMAGNETIC MAP
----- End of picture text -----

32

The above interpretations are preliminary and geophysical interpretation is recommended in the next phase of exploration, along with integration with the historical data.

10.0 DRILLING

No drilling has been completed on the Scottie West Project.

11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY

All samples collected from the Scottie West Project in 2020 were packed into a rice bag and secured with a cable tie in the presence of the author. Collection procedures are discussed under section 9.1. No QAQC samples were submitted due to the preliminary nature of the geochemical survey and limited number of samples collected. Samples were transported by Cazador to MSALabs in Langley, British Columbia for preparation and analysis.

At the laboratory, rock sample preparation involved drying, fine crushing to better than 90% passing minus 2 mm, then pulverizing a 500g split to better that 85% passing 75 microns (revised PRP 915). Soil and stream sediment sample preparation involved drying and screening to minus 80 mesh (PRP-757). For the rocks and soil the fine fraction was analyzed for gold by fire assay on a 30g aliquot with an inductively coupled plasma (“ICP”) - atomic absorption spectroscopy (“AAS”) finish (FAS-111), and for 38 additional elements by aqua regia digestion and ICP- atomic emission spectroscopy/ mass spectrometry (“AES/MS”) ultra trace level analysis on a 0.5g aliquot (IMS-127). The fine fraction of the stream sediment was analyzed for 39 additional elements, including gold by aqua regia digestion and ICP - AES/MS ultra trace level analysis on a 20g aliquot (IMS-128).

Quality control procedures were implemented at the laboratory, involving the regular insertion of blanks and standards and check repeat analyses and resplits (re-analyses on the original sample prior to splitting). All standards and check analyses by the laboratory returned results within acceptable limits. There is no evidence of any tampering with or contamination of the samples during collection, shipping, analytical preparation or analysis. All sample preparation was conducted by the laboratory. The laboratory is entirely independent from Industria, Goldplay, Roughrider and Cazador. MSALabs carries ISO 9001 registration and is accredited to ISO 17025 Standards Council of Canada for the preparation and analysis procedures performed. In the author’s opinion the sample preparation, security, and analytical procedures were adequate.

A sampling protocol should be implemented by Goldplay involving the routine and regular insertion of blanks, standards and duplicates sent to the primary laboratory, and reassaying of selected mineralized pulps at a second independent laboratory in future trenching and drill programs on the project.

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12.0 DATA VERIFICATION

The geochemical data was verified by sourcing analytical certificates and digital data. Analytical data quality assurance and quality control was indicated by the favourable reproducibility obtained in laboratory standards, blanks and duplicates (repeats). There does not appear to have been any tampering with or contamination of the samples during collection, shipping, analytical preparation or analysis. In the author’s opinion the data provided in this technical report is adequately reliable. A site visit was performed by the author, as outlined in Section 2.1, at which time numerous vein systems and gossans were observed and five rock samples were collected by the author, including the wallrock sample which yielded 1.01 g/t Au with 610 ppm As and a few veins with elevated arsenic values.

13.0 MINERAL PROCESSING AND METALLURGICAL TESTING

The Scottie West Project is at an early exploration stage and no metallurgical testing has been carried out.

14.0 MINERAL RESOURCE ESTIMATES

There has not been sufficient work on the Scottie West Project to undertake a resource calculation.

23.0 ADJACENT PROPERTIES

(Figures 2, 3 and 12)

The Scottie West Project is adjoined to the east by the properties of Scottie Resources Corp. (“Scottie”), including the Scottie Gold Mine, Bow, Summit Lake and Stock properties. Eleven Minfile occurrences are documented on the combined properties. The following discussion on Scottie’s properties is summarized from their website (https://scottieresources.com/) . The mineralization and production figures discussed below have not been verified by the author and are not necessarily indicative of the mineralization on the Scottie West Project, which is the subject of this report.

Scottie Gold is a past producing mine located about 10 km northeast of the central Scottie West Project. It operated from 1981 to 1985, and produced 95,426 ounces gold at an average grade of 16.2 g/t. The deposit consists of a number of east-west to northwest trending, steeply dipping shear veins that are comprised of pyrrhotite greater than pyrite, ±quartz, ±calcite. The veins are hosted in a package of andesitic volcanics from the Unuk River unit of the Betty Creek Formation of the Hazelton Group that are situated adjacent to the contact with the Summit Lake stock, part of the early Jurassic aged Texas Creek plutonic suite. This setting is similar to several other precious and base metal deposits in the area, including Snip, Premier, Red Mountain, Brucejack, Kerr-Sulphurets-Mitchell, Snowfield and Bronson Slope.

34

At least 13 zones of gold-bearing quartz-carbonate sulphide (pyrite, pyrrhotite, ±chalcopyrite, ±galena, ±sphalerite) veining occur on the 791 ha Scottie Gold mine and Bow properties. The veins appear to be localized along sub-parallel shear or fracture zones that are possibly related to emplacement of the nearby Summit Lake stock. The veins host sulphide-rich shoots with highly anomalous gold values. Mineralization remains open with significant results reported from step out drilling. Hole SR19-13 intersected an extension of the historic M zone returning 7.27 g/t Au and 3.83 g/t Ag over 25m in 2019; and 109.4 g/t Au and 32.4 g/t Ag over 2.53m was reported from the O zone in 2020. Drilling on the Bend fault in 2019, which has been traced for more than 700m on surface, intersected 73.32 g/t Au and 71.01 g/t Ag over 4.28m in SR19-11.

The Domino zone (Figures 2, 9 to 11), on Scottie’s 1,500 ha Summit Lake property, has yielded 10.5 g/t Au and 14.0 g/t Ag over 5.3m with bonanza gold values of 536 g/t reported from rock sampling in 2019 in an area of recent glacial retreat. The size of the mineralized zone, which lies 2 km west, along strike of the Scottie Gold Mine, was increased to 900m of strike extent and 450m in width in 2020 with the discovery of numerous high grade surface grab samples (>5 to 81.7 g/t Au from 14 samples), and a 4.5 km IP survey outlined highly prospective drill targets. Galena float from the Hollywood occurrence (Figures 2, 9 to 11) further south yielded 10,700 g/t Ag and 24.95 g/t Au (Coffin, 1988) .

The 4,127 ha Stock property has been explored intermittently since 1921 with numerous tunnels and crosscuts, one extending 300m. Mineralization reportedly includes anomalous silver, with gold, tungsten, copper, lead and zinc in beds of a siltstone complex. The geophysics survey conducted over Scottie’s properties in 2012 and 2016 has been discussed under section, 6.0 “History”.

The approximate 2989 ha Tunnel property of Castle Granduc Exploration Inc. (“Castle”), which covers the old access tunnel to the past producing Granduc mine, adjoins the northeastern Scottie West Project. No Minfile occurrences are documented on the property (Figure 2) .

The northwestern Scottie West Project is adjoined to the north by the Silver Leduc property of Teuton Resources Corp. (“Teuton”), which surrounds Castle’s 648 ha Granduc mine property. The Granduc mine, interpreted as a Beshi-type volcanogenic massive sulphide deposit, straddles the South Unuk shear zone, which marks the contact between the Stuhini and Hazelton groups. The deposit consists of several highgrade massive and semi-massive sulphide lenses overprinted by varying intensities of deformation. Total production from 1971 to 1978 and 1981 to 1984 included 15.5 million tonnes of ore 1.35% Cu, 0.13 g/t Au and 8 g/t Ag (British Columbia Minfile, 2020) . The continuation of the South Unuk shear zone onto the Scottie West Project is intruded by the Boundary stock of the Coast Plutonic Complex, such that the favourable contact is not present (Figures 6 and 7) .

There are no Minfile occurrences documented on the southern Silver Leduc property (Figure 2) but Teuton reports that the claims cover extensions along strike both to the north and south, and along dip of the known Granduc mineralized bodies, as suggested by airborne geophysical surveys and diamond drilling results from the JK zone, which yielded intersections of 1.13% Cu over 5.3m (http://teuton.com/) .

35

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----- Start of picture text -----

BOW
GRAN TUNNEL SCOTTIE
DUC
GOLD
MINE
SUMMIT
LAKE
SCOTTIE
SILVER LEDUC
WEST
STOCK
GOLDPLAY MINING INC.
FIGURE 12: Adjacent Properties
JPEx November, 2020
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The mineralization and production figures discussed in this section have not been verified by the author and are not necessarily indicative of the mineralization on the Scottie West Project, which is the subject of this report.

24.0 OTHER RELEVANT DATA AND INFORMATION

To the author’s knowledge, there is no additional information or explanation necessary to make this technical report understandable and not misleading.

25.0 INTERPRETATION AND CONCLUSIONS

The Scottie West Project constitutes a property of merit based on: based on proximity to the past producing Scottie Gold and Premier mines; presence of favourable geology consisting of a stock of the Texas Creek plutonic suite within an area underlain by coeval volcanic and related sedimentary rocks of the Betty Creek Formation; presence of extensive gossanous and bull quartz veins including en echelon tension gashes; and evidence of significant structures and untested geophysical targets.

The Project lies within an extremely favourable geological setting, the prolific Golden Triangle of northwest Stikinia, which hosts some of the world’s largest and richest mineral deposits, typically Early Jurassic in age. These include gold rich deposits such as Eskay Creek, Brucejack, Premier, Snip, and copper-gold rich deposits such as KSM, Galore Creek, Red Chris and Granduc. Property geology comprises Jurassic Hazelton volcanic rocks and coeval intrusions of the Texas Creek plutonic suite and Eocene aged intrusions, which also host numerous mineral occurrences and past producing mines throughout the Golden Triangle. Included are Ascot Resources’ Premier mine (22 km southeast of the Project) and the Scottie Gold mine (on Scottie Resources Corp.’s properties, adjoining the Project), within the Stewart mining camp. Mineralization on the above-mentioned occurrences is not necessarily indicative of the mineralization on the Scottie West Project, which is the subject of this report.

Very little historical work has been completed on the Project area primarily due to extensive glacier cover. The glaciers have recently melted back, exposing extensive veining and numerous gossans, which were observed in the southeastern property area during the site visit by the author on October 4, 2020. Of particular note was an approximate at least 600m by 100m gossanous zone with quartz veins within the Eskay rift. Many of the veins appear to be 30 cm thick, are locally folded with en echelon tension gashes evident which appear to document a period of thrust faulting and hydrothermal fluid activity. Tension gashes suggest top-to-the-east shear thrust sense (common in the Cordillera) along a sub-horizontal shear plane.

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The combined 2012 and 2016 historical airborne magnetic geophysical survey (Poon, 2016) , which covers approximately 25% of the Project highlighted several prominent northerly to north-northwesterly and southwesterly trending features which appear to have a spatial association with mineral occurrences on the adjoining ground. The Scottie Gold past producing mine is shown at the intersection of a northerly trending interpreted structure with a southwesterly trending interpreted structure (Figure 3) . The latter extends southwesterly onto the eastern Scottie West Project, where it may intersect a northerly trending structure, interpreted further north. This area was found to be underlain by local gossans and veins during the site visit by the author on October 4, 2020 (JP area in Figure 8) , and it’s possible continuation may be related to the 600m by 100m gossanous vein zone (Figure 8) . Additional structures are being identified in the 2020 geophysical survey. The strike extension of Scottie’s Domino zone could extend onto the northeastern Project area.

In the JP area, pyritic, sericite altered argillite host rock with limonitic fracture fillings yielded 1.01 g/t Au with 610 ppm As and 5.45 ppm Sb and a few veins returned elevated arsenic values. Due to the limited number of samples collected within one small section of the property, limited time spent in collection and the widespread gossans and veins observed, the results obtained are significant.

The Scottie West Project is at an early stage of exploration, and as such considered a high risk. The above interpretations and the following recommendations for work are based on the results of geophysical surveys and limited geochemistry, which are subject to a wide range of interpretation. There are no specific risks the author foresees that would impact continued exploration and development of the property. Although the author believes the surveys on the property are scientifically valid, evaluating the geological controls on mineralization is hampered by limited work and a lack of rock exposure in critical areas.

26.0 RECOMMENDATIONS

A two phase exploration program is recommended on the Scottie West Project with the purpose of the initial Phase 1 program to: evaluate the extensive veining and numerous gossans observed in the southeastern property area during the 2020 field program; assess the additional unexplored areas exposed by retreating ice fields; and compile, integrate and interpret the combined historical and 2020 airborne geophysical surveys, and follow up the geophysical anomalies obtained.

Initially, the combined historical airborne geophysical data (2012 and 2016 surveys) (Poon, 2016) requires integration with the 2020 airborne geophysical data. The resultant anomalies need to be interpreted and correlated with the geology, and observed mineralization and faults from the 2020 field program. In addition updated satellite imagery should be acquired (to outline gossanous zones, veins, structures), and the

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2020 data and up to date Scottie information compiled and integrated into detailed base maps in order to effectively follow the prospective trends.

A high resolution drone survey is recommended to aid in geological, structural and surficial interpretations, mapping, survey planning, geomorphology and infrastructure analysis, and to provide a baseline for environmental impact assessment, up to date high resolution imagery and digital elevation models for control and obtain detailed magnetic data in this rugged terrain.

A robust program of rock chip sampling is recommended across the extensive veins and gossans observed in the Southeast Exposure. Detailed prospecting and sampling is required over the Southeast Exposure and to evaluate the additional rock exposures across the property. Property scale mapping is recommended over all bedrock exposures, with detailed mapping in areas of extensive veining, gossans and strike extensions of known mineralized zones on the adjoining properties of Scottie, such as the Domino zone. Mapping should include detailed structural mapping and analysis by a competent professional in this field.

Contour talus fine soil with select stream sediment geochemistry is recommended below rugged exposures to evaluate them and possibly outline additional specific anomalous areas for rock sampling.

IP has been successful on the adjoining properties of Scottie. Consequently, limited reconnaissance lines are recommended across favourable mineralized zones or structures on Scottie West, possibly including the projected strike extension of Scottie’s Domino zone.

Consequently, a Phase 1 exploration program of compilation, integration and interpretation of the airborne geophysical surveys, satellite imagery acquisition, GIS compilation and integration of all data for base map preparation, drone imagery and magnetic surveying, geological mapping, structural mapping and analysis, prospecting and sampling, contour talus fine geochemical sampling, extensive rock chip sampling, and select reconnaissance IP lines with a budget of $425,000 is recommended. The program is expected to last one month with a Project geologist, prospector, two geological assistants/samplers, with the additional services of a professional structural geologist for 10-15 days. The program would be based out of Stewart, flying out daily via helicopter.

A Phase 2 drill program, contingent on results from Phase 1, is recommended with 2,000m of diamond drilling in about 10 holes with a helicopter supported rig to test anomalies generated by Phase 1.

Budgets for the above-recommended programs are shown on the following page.

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26.1 Budget:

Based on the above recommendations, the following two phase exploration program with corresponding budget is proposed. Phase 2 is entirely contingent on results from Phase 1.

Phase 1 (mapping, geochemistry, geophysics)

compile, integrate, interpret airborne geophysics $10,000
GIS compilation and base maps, including adjoining Scottie anomalies 10,000
mapping/prospecting and supervision wages 35,000
detailed structural mapping and analysis 15,000
rock chip sampling wages 13,000
talus fine sampling wages 10,000
talus fine sample assays (1,000 samples @ $30/each, plus shipping, QAQC) 32,000
rock assays (500 Au, ICP @ $50/each, plus shipping, QAQC) 27,000
detailed drone magnetics and imagery (10 days @ $5,000/ day) 50,000
select reconnaissance IP geophysics (3 km @ 10,000/line km) 30,000
helicopter (2hrs/day x $2,000/hour including fuel) 100,000
truck rental 3,000
accommodation, food ($150/man-day – shared hotel room, kitchenette) 15,000
communication, travel & expediting 7,000
field equipment and supplies 3,000
preparation, post season compilation, report and drafting 25,000
contingency 40,000
TOTAL: $425,000
Phase 2(diamond drilling, contingent on results from Phase 1)
diamond drilling (2000m in 10 holes, all in) $500,000
logging, sampling, supervision 53,000
assays (500 Au, ICP @ $50/each+ shipping, QAQC) 27,000
accommodation, food 50,000
helicopter 150,000
truck rental 10,000
preparation, compilation, report and drafting 35,000
communication, supplies, travel & expediting 25,000
contingency 100,000
TOTAL: $950,000
TOTAL of Phases 1 and 2 $1,375,000

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SIGNATURE PAGE

Respectfully submitted,

Effective Date: January 18, 2021

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“Jean Pautler”

Signing Date: January 18, 2021

Jean Pautler, P.Geo.

The signed and sealed copy of this Signature page has been delivered to Goldplay Mining Inc.

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27.0 REFERENCES

  • Alldrick, D.J., 1996. Intrusion-related Au pyrrhotite veins. In: Selected British Columbia Mineral Deposit Profiles, Volume 2 - Metallic Deposits, Lefebure, D.V. and Hõy, T., Editors, British Columbia Ministry of Employment and Investment, Open File 1996-13, pages 57-58.

  • 1993, Geology and metallogeny of the Stewart Mining Camp, northwestern British Columbia. BC Ministry of Energy and Mines, Bulletin 85.

  • British Columbia Minfile, 2020. Minfile reports. British Columbia Geological Survey. Available at: http://minfile.gov.bc.ca/searchbasic.aspx.

  • Coffin, D. 1988. Preliminary evaluation of the Hollywood Property. Report by Vanguard Consulting Inc. for Tri Gold Industries Inc. Assessment Report 18201.

  • Colpron, M. and Nelson, J. L., 2011. A digital atlas of terranes for the Northern Cordillera; Yukon Geological Survey and British Columbia Geology Survey, BCGS GeoFile 2011-11.

  • Cui, Y., Miller, D., Schiarizza, P., Diakow, L.J., 2017. British Columbia digital geology. British Columbia Ministry of Energy, Mines and Petroleum Resources, British Columbia Geological Survey Open File 2017-8.

  • Fugro Airborne Surveys, 2012. Geophysical survey report HM1 stinger-mounted magnetic survey Summit Lake area, Project 12089 Eilat Exploration Ltd. In: Assessment Report 33511.

  • Grove, E.W., 1986. Geology and mineral deposits of the Unuk River - Salmon River - Anyox area, British Columbia. British Columbia. BC Ministry of Energy and Mines, Bulletin 63.

  • Geology and mineral deposits of the Stewart area, British Columbia. British Columbia. BC Ministry of Energy and Mines, Bulletin 58.

Industria Metals Inc., 2020. Website at https://industriametals.ca/.

  • Lewis, P. D., 2013, Iskut River area geology (NTS 104B/08 and part of 104B/01, 07). Geoscience BC Map 2013-05-1, 1:50,000 scale.

  • Lewis, P.D., Toma, A., Tosdal, R.M., (Compilers), 2001. Metallogenesis of the Iskut River Area, Northwestern British Columbia. Special Publication Number 1, Mineral Deposit Research Unit, University of British Columbia, Vancouver, British Columbia.

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  • MacIntyre, D.G., Ash, C. and Britton, J., 1994. Geological compilation Nass-Skeena area west-central British Columbia (93/E, L, M; 94/D; 103/G, H, I, J, P; 104/A, B). British Columbia Ministry of Energy, Mines and Petroleum Resources, British Columbia Geological Survey Open File 1994-14.

  • Morrison, R., McKinnon, C., Liukko, G., Kesavanathan, D., Gagnon, A., Hafez, S.A., Danon-Schaffer, M.,McLaughlin, M., Ouellet, J., 2013. Preliminary economic assessment for the Granduc copper project, northern British Columbia, NI 43-101 report for Castle Resources Inc.

  • Nelson, J., Waldron, J., van Straaten, B., Zagorevski, A., Rees, C., 2018. Revised stratigraphy of the Hazelton Group in the Iskut River region, northwestern British Columbia, in: Geological Fieldwork 2017, British Columbia Geological Survey Paper 2018-1. British Columbia Ministry of Energy, Mines and Petroleum Resources, pp. 15–38.

  • Poon, 2016. Airborne geophysical survey report Summit Lake survey block Stewart, BC. Report by Precision GeoSurveys Inc. for Triangle Exploration Limited. Assessment Report 36318.

  • Precision GeoSurveys Inc., 2020. Airborne geophysical survey report Scottie West survey block, Stewart, BC. Report by Precision GeoSurveys Inc. for Roughrider Exploration Limited. In preparation.

  • Ramsey, A., 2013. 2012 airborne magnetic geophysical survey on the Summit Lake property. Report by Cambria Geosciences Inc. for Eilat Resources Inc. Assessment Report 33511.

Roughrider Exploration Limited, 2021. Website at https://www.roughriderexploration.com/.

Scottie Resources Corp., 2021. Website at https://scottieresources.com/projects/.

Teuton Resources Corp., 2021. Website at http://teuton.com/.

  • Voordouw, R. and Carr, I., 2019. 2018 geological and geochemical report on the Scottie Gold Project. Prepared for Scottie Resources Corp. by Equity Exploration Consultants Ltd.

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CERTIFICATE OF QUALIFIED PERSON

  • 1) I, Jean Marie Pautler of 103-108 Elliott Street, Whitehorse, Yukon Territory am selfemployed as a consultant geologist, authored and am responsible for all sections of this report entitled “Technical report on the Scottie West Project, Stewart area, British Columbia”, dated January 18, 2021.

  • 2) I am a graduate of Laurentian University, Sudbury, Ontario with an Honours B.Sc. degree in geology (May, 1980) with over 40 years mineral exploration experience in the North American Cordillera. Pertinent experience includes the acquisition and delineation of the Tsacha epithermal gold deposit, British Columbia and conducting exploration and property examinations throughout the Golden Triangle of northwest British Columbia for Teck Exploration Ltd. and Equity Engineering Ltd. (now Equity Exploration Ltd.). I have visited the Premier, Eskay Creek and Snip past producing mines, and other deposits and showings within the Golden Triangle.

  • 3) I am a registered member of the Association of Professional Engineers and Geoscientists of British Columbia, registration number 19804.

  • 4) I have visited the subject mining property of this report and am a “Qualified Person” in the context of and have read and understand National Instrument 43-101 and the Companion Policy to NI 43-101. This report was prepared in compliance with NI 43-101.

  • 5) This report is based on a site visit by the author on October 4, 2020, and a review of pertinent data. I do not have any other prior involvement on the Scottie West Project.

  • 6) At the effective date of the technical report, to the best of my knowledge, information, and belief, the technical report contains all scientific and technical information required to be disclosed to make the technical report not misleading.

  • 7) I am entirely independent, as defined in section 1.5 of National Instrument 43-101, of Industria Metals Inc., Goldplay Mining Inc., Roughrider Exploration Limited, Cazador Resources Ltd, any associated companies and the Scottie West Project.

Dated at Carcross, Yukon Territory this 18[th ] day of January, 2021,

“Signed and Sealed”

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“Jean Pautler”

Jean Pautler, P.Geo. (APEGBC Reg. No. 19804) JP Exploration Services Inc.

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103-108 Elliott St. Whitehorse, Yukon Y1A 6C4

The signed and sealed copy of this Certificate page has been delivered to Goldplay Mining Inc.