SAPPHO

The Sappho prospect, on which the Company conducted extensive exploration in 2009 and 2010, has yielded strong evidence of copper-gold-silver-platinum-palladium (“Cu-Au-Ag-PGE”) alkalic porphyry mineralization.   Exploration at the Sappho zone has resulted in numerous high grade samples from the historic workings.  However, the nature of its origin and the surrounding geology is not fully understood. The remaining area of the Sappho claim block is relatively underexplored compared to the extensive work at the main showings.

Three well documented surface copper occurrences in the northeastern portion of the complex yielded numerous high grade selective grab sample results including up to 8.28% copper (“Cu”) 298 grams per tonne (“g/t”) silver (“Ag”), 2.2 g/t gold (“Au”), 27.1 g/t Platinum (“Pt”) and 2.57 g/t palladium (“Pd”). All three occurrences yielded multi gram Pt and Pd values.  The Sappho prospect is unusual relative to most British Columbia platinum group elements-bearing alkaline intrusive complexes, in that it contains Pt concentrations greater than Pd and Au.  As reported in the Technical Report, government geologists have conducted extensive geochemical and mineralogical work on the Sappho alkaline complex and associated Cu-Ag-PGE-Au mineralization and, based upon textural and geochemical evidence, suggest that the mineralization is late magmatic or magmatic-hydrothermal in origin and bares mineralogical traits most common in alkaline porphyry style associated metals.

A drill program conducted by the Company in 2010 targeted two showings at the Sappho prospect, the Main and Northern showings, with a drillhole beneath each showing and two additional drillholes testing two proximal blind magnetic features with no previously known mineralization. The two holes beneath the Sappho Main and Sappho North showings intersected weak but anomalous Cu-Ag-PGE-Au. The best intersection was provided by drillhole 10SP03, which targeted a blind magnetic anomaly close to the Bodie Mountain fault and yielded a wide anomalous interval of 0.28% CuEq over 93.5 m core length including a higher grade zone of 0.38 % CuEq over 63.5 m core length that is comprised of 0.12% Cu, 8.68 g/t Ag, 0.22 g/t Au, 0.10 g/t Pd and 0.07 g/t Pt. This wide anomalous interval contains two higher grade intervals, an upper and lower zone, which yielded 1.43% CuEq over 7 m and 1.04% CuEq over 6.5 m core length, respectively. The mineralization in drillhole 10SP03 is hosted in a wide and intensely hornfelsed to skarnified pyroxenite that is brecciated and silicified in places. Hornfels alteration consists of biotite-garnet-magnetite and is associated with abundant pyrite and chalcopyrite.  Further drilling will be required to follow up on the results of 10SP03.

• The Sappho area is being targeted for copper-gold-PGEs skarn and porphyry type targets associated with an alkalic intrusion and several diorite intrusions south of Greenwood near the US border.
• At least five new showings of copper oxide/sulphide mineralization were found during the 2022 program at the Sappho Target.
• Previous surface sampling and drilling by Grizzly at the Sappho area has yielded significant anomalous copper, gold, silver along with platinum and palladium.
• Numerous rock grab samples have yielded greater than 1% copper, 1 g/t gold, 1 g/t platinum and 1 g/t palladium. The sampling work in 2022 yielded 17 rock grab samples with >1% Cu up to 9.06% Cu.
• Historical drilling (by the Company) has yielded up to 0.31% Cu, 0.75 g/t Au, 0.34 g/t Pt, 0.39 g/t Pd and 6.57 g/t Ag over 6.5 m core length in skarn at Sappho in 2010.

Mineralization at Sappho 2022

Copper bloom at the Main Sappho Adit Showing