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Whitehorse Gold Intersects 7.7m Interval Grading 15.7 g/t Gold at Mt. Skukum Deposit, Yukon

Vancouver, British Columbia–(Newsfile Corp. – April 1, 2022) –  Whitehorse Gold Corp. (TSXV: WHG) (OTCQX: WHGDF) ("Whitehorse Gold" or the "Company") reports…

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Vancouver, British Columbia–(Newsfile Corp. – April 1, 2022) –  Whitehorse Gold Corp. (TSXV: WHG) (OTCQX: WHGDF) (“Whitehorse Gold” or the “Company”) reports assay results of the remaining 30 drill holes from the 2021 drill program at its wholly-owned Skukum Gold Project (the “Project”), in southern Yukon.

The 30 drill holes were infill and step-out drill holes from the Skukum Creek, Mt. Skukum and Goddell deposits, which have further confirmed and expanded gold-silver mineralization on the Project. With all drill results now received (see Table 1), the Company is evaluating its exploration plans for the 2022 program.

Highlights of the drilling results:

  • Hole MS21-003 at the Mt. Skukum deposit intersected a 7.7 metre (“m”) interval (from 82.0 to 89.7 m) grading 15.68 grams per tonne (“g/t”) gold (“Au”) in the Lake 1 Zone (see Figures 1 and 2). This is an infill hole and mineralization occurs within a series of chalcedonic quartz-calcite veins and veinlets.
  • Hole SC21-027 at the Skukum Creek deposit intersected a 14.0 m interval (from 473.7 to 487.7 m) grading 6.05 g/t Au and 106 g/t silver (“Ag”), including two separate intervals of 2.13 m grading 12.85 g/t Au and 203 g/t Ag, and 3.90 m grading 9.18 g/t Au and 183 g/t Ag, in the Rainbow Zone (see Figures 3 and 4). This is an infill/resource upgrade hole with gold-silver mineralization associated with a quartz vein breccia within a rhyolite dyke host emplaced in shear zone within granodiorites.
  • Hole RACA21-003 on the RACA zone (see Figures 5 and 6), adjacent to and east of the Skukum Creek deposit, intersected a 3.2 m interval (from 356.9 to 360.1 m) grading 0.76 g/t Au and 581 g/t Ag. An additional deeper interval of 2.65 m (from 425.5 to 428.2 m) graded 489 g/t Ag including a 0.3 m interval of 3,740 g/t Ag. This hole tests a new zone that encountered multiple narrow silver-rich quartz sulfide veins.

Table 1: Summary of All 2021 Drill Results at Skukum Gold Project (includes previously released results)

Hole ID From (m) To (m) Interval (m)1,2 Au (g/t) Ag (g/t) AuEq (g/t)3,4 Zone
GG21-001 371.4 374.35 2.95 1.43 1 1.44 Goddell deposit
GG21-002 355.8 357.22 1.42 3.05 1 3.07
and 383.13 383.83 0.70 3.22 1 3.24
and 391.88 392.07 0.19 3.95 4 4.01
and 531.62 532.04 0.42 3.22 714 13.29
and 552.96 553.45 0.49 0.56 492 7.5
MS21-001 116.59 117.43 0.84 2.19 3 2.23 Mt. Skukum deposit
(Cirque Zone)
MS21-002 No significant assay results
MS21-009 No significant assay results
MS21-010 No significant assay results
MS21-003 82 89.73 7.73 15.68 26 16.05 Mt. Skukum deposit
(Lake 1 Zone South)
MS21-004 203 204 1.00 1.69 7 1.78
and 209 210.2 1.20 2.03 3 2.08
MS21-005 160.24 161 0.76 8.12 5 8.82 Mt. Skukum deposit
(Lake 1 Zone Central)
and 169.5 170.5 1.00 8.55 5 8.62
MS21-006 179.97 188.85 8.88 3.17 3 3.21
incl. 179.97 183.36 3.39 7.85 7 7.94
MS21-007 No significant assay results
MS21-008 No significant assay results
MS21-011 186.43 186.73 0.30 40.7 22 41.01
MS21-012 86.8 87.65 0.85 5.58 5 5.64 Mt. Skukum deposit
(Lake 2 Zone, Fox Zone)
179 180.5 1.50 4.12 2 4.14
MS21-013 130.3 131.13 0.83 2.54 2 2.57
MS21-014 104 104.27 0.27 32.4 22 32.7
286.37 286.68 0.31 3.2 5 3.2
RACA21-002
(Step-out)
136.54 138.49 1.95 0.39 395 5.91 Skukum Creek deposit
(RACA Zone)
284.52 284.90 0.38 1.40 41 2
345.98 347.78 1.80 1.06 1440 11.28
435.00 437.00 2.00 4.10 5 4.2
RACA21-003
(Step-out)
58.04 58.21 0.17 0.01 101 1.52
161.45 161.59 0.14 0.79 278 4.71
317.75 318.84 1.09 0.52 456 6.95
356.87 360.10 3.23 0.76 581 8.95
389.46 393.03 3.57 0.38 56 1.17
425.51 428.16 2.65 0.27 489 7.17
incl. 426.85 427.16 0.31 1.90 3740 54.6
SC21-001 463.00 464.31 1.31 2.11 27 2.49 Skukum Creek deposit
(Rainbow Zone)
SC21-002 No significant assay results
SC21-003 28.96 29.57 0.61 2.70 2490 37.81
SC21-004 96.00 104.00 8.00 1.52 90 2.79
incl. 102.21 104.00 1.79 5.81 269 9.61
SC21-005 79.65 88.75 9.10 2.81 180 5.35
incl. 79.65 83.15 3.50 5.57 375 10.88
SC21-006 78.64 87.57 8.93 2.49 120 4.18
incl. 78.64 83.04 4.40 3.82 184 6.41
SC21-007 Abandoned before reach the Rainbow Zone
SC21-008 141.07 152.40 11.33 1.57 228 4.78
incl. 146.23 148.44 2.21 6.05 1142 22.16
SC21-009 124.75 139.88 15.13 1.15 143 3.17
incl. 124.75 128.04 3.29 2.87 571 10.92
and 133.56 134.63 1.07 4.69 174 7.14
SC21-012 143.95 144.26 0.31 0.90 125 2.7
202.52 208.14 5.62 3.26 178 5.78
incl. 202.52 204.37 1.85 8.64 320 13.15
206.89 208.14 1.25 1.69 318 6.17
SC21-013 523.20 527.87 4.67 5.34 46 5.99
523.20 525.69 2.49 7.74 48 8.41
SC21-019 218.00 222.27 4.27 4.15 251 7.68
229.07 235.05 5.98 2.64 176 5.12
incl. 233.24 235.05 1.81 5.88 489 12.78
SC21-020 No significant assay results
SC21-021 307.50 325.00 17.50 3.34 478 10.08
incl. 312.95 317.26 4.31 10.45 1825 36.18
SC21-022 499.14 500.06 0.92 2.59 61 3.44
SC21-023 370.00 389.00 19.00 4.37 126 6.14
incl. 377.00 381.95 4.95 13.63 363 18.74
SC21-025 484.00 486.00 2.00 5.55 42 6.14
SC21-027
(step-out)
473.74 487.72 13.98 6.05 106 7.54
incl. 475.82 477.95 2.13 12.85 203 15.72
And 481.30 485.20 3.90 9.18 183 11.76
SC21-010 343.79 345.79 2.00 2.20 2 2.2 Skukum Creek deposit
(Rainbow Zone east)
398.39 400.39 2.00 0.00 160 2.3
SC21-014 No significant assay results
SC21-011 582.03 582.25 0.22 2.40 168 4.8 Skukum Creek deposit
(Rainbow 2 Zone, Berg Zone)
588.75 589.49 0.74 0.30 129 2.1
SC21-015 226.40 243.58 17.18 7.90 100 9.1
incl. 226.40 228.81 2.41 9.40 90 10.4
incl. 239.34 243.58 4.24 26.80 350 30.8
SC21-016 480.15 480.30 0.15 1.90 93 3.2
515.38 516.30 0.92 9.40 249 12.9
548.19 548.37 0.18 1.40 38 2
SC21-017 323.32 325.32 2.00 4.65 52 5.38
352.27 352.65 0.38 0.76 188 3.41
SC21-018 277.73 288.31 10.58 4.97 39 5.51
incl. 282.55 285.66 3.11 15.09 101 16.52
319.00 338.55 19.55 2.19 18 2.45
incl. 330.15 330.37 0.22 16.15 69 17
And 332.89 333.65 0.76 11.90 122 13.62
And 336.40 336.90 0.50 36.10 37 36.62
SC21-024 392.05 392.91 0.86 21.00 66 21.9
SC21-026 335.29 336.41 1.12 3.20 208 6.1

 

Notes:

  1. Drill location, elevation, azimuth, and dip of drill holes are provided in Table 2 below.
  2. Composites are length weighted.
  3. True width is estimated at 50-70% of drill intercepts.
  4. Calculation for gold equivalent (“AuEq”) (g/t) = Au (g/t) + [Ag (g/t) x 0.0141] is based on the long-term median of the August 2021 Street Consensus Commodity Price Forecasts by BMO, which are US$1,600/oz for Au, US$22.50/oz for Ag. Au:Ag ratio is 1:71.
  5. Assumptions: AuEq calculation utilizes in situ contained Au and Ag and assumes 100% recovery.

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Figure 1: Plan view of the Mt. Skukum deposit showing main zones, drill hole traces and drill hole collar locations.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7553/118830_1183cad5f413caf7_004full.jpg

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Figure 2: Mt. Skukum deposit – Lake Zone 1 section showing 2021 drill intercepts and select historic drill intervals.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7553/118830_1183cad5f413caf7_005full.jpg

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Figure 3: Plan view of the Skukum Creek deposit showing main zones, drill hole traces and drill hole collar locations.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7553/118830_1183cad5f413caf7_006full.jpg

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Figure 4: Skukum Creek deposit – Rainbow Zone section showing 2021 drill intercepts and select historic drill intervals.

To view an enhanced version of Figure 4, please visit:
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Figure 5: Plan view of the RACA Zone drill hole traces and drill hole collar locations.

To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/7553/118830_1183cad5f413caf7_008full.jpg

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Figure 6: RACA Zone section G-H showing drill hole RACA21-003 mineralized intervals.

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/7553/118830_1183cad5f413caf7_009full.jpg

Table 2: Drill hole details for current and historic holes presented in Table 1 and Figures 1 to 6.

Hole_ID Length (m) UTM Easting (m) UTM Northing (m) Elevation (m) Azimuth Dip Level Target Prospect
MS21-001 197 474284 6674903 1734 293.2 -58 Surface Cirque Vein MTS
MS21-002 191 474241 6674804 1740 300 -53.1 Surface Cirque Vein MTS
MS21-003 115 473539 6674705 1905 100.1 -54.3 Surface Lake Zone MTS
MS21-004 301 473423 6674732 1928 104.3 -66 Surface Lake Zone MTS
MS21-005 200 473450 6674786 1926 109 -54.1 Surface Lake Zone MTS
MS21-006 197 473455 6674883 1916 118 -52 Surface Lake Zone MTS
MS21-007 286 473391 6674884 1910 107.8 -48 Surface Lake Zone MTS
MS21-008 264 473455 6674883 1916 95 -50.8 Surface Lake Zone MTS
MS21-009 219 474241 6674804 1740 310.1 -56 Surface Cirque Vein MTS
MS21-010 208 474284 6674903 1735 297 -65 Surface Cirque Vein MTS
MS21-011 222 473455 6674883 1916 86 -46 Surface Lake Zone MTS
MS21-012 301 473471 6675118 1866 113 -48 Surface Lake Zone MTS
MS21-013 344 473471 6675118 1866 111 -58 Surface Lake Zone MTS
MS21-014 325 473473 6675154 1856 104 -45 Surface Lake Zone MTS
SC21-001 633 478100 6671143 1386 292.8 -46 Surface Rainbow Zone SKC
SC21-002 770 477807 6671501 1346 177.8 -47 Surface Rainbow Zone SKC
SC21-003 654 478100 6671143 1386 277 -57 Surface Rainbow Zone SKC
SC21-004 130 477907 6671337 1383 280.9 -45.2 Surface Rainbow Zone SKC
SC21-005 111 477907 6671337 1383 299.8 -48.2 Surface Rainbow Zone SKC
SC21-006 105 477907 6671337 1383 331.8 -53.3 Surface Rainbow Zone SKC
SC21-007 72 477907 6671337 1383 319.8 -44.6 Surface Rainbow Zone SKC
SC21-008 294 477925 6671322 1384 278.4 -48.7 Surface Rainbow Zone SKC
SC21-009 170 477925 6671322 1384 289.1 -51 Surface Rainbow Zone SKC
SC21-010 441 478099 6671385 1299 345.2 -45.2 Surface Rainbow Zone SKC
SC21-011 673 477147 6671246 1694 150 -62.2 Surface Rainbow 2 Zone SKC
SC21-012 261 478032 6671300 1348 308.5 -48.4 Surface Rainbow Zone SKC
SC21-013 627 478100 6671143 1386 287 -59 Surface Rainbow Zone SKC
SC21-014 81 478023 6671441 1298 318.2 -52.8 Surface Rainbow Zone SKC
SC21-015 344 477202 6671131 1692 126.8 -52.3 Surface Rainbow Zone SKC
SC21-016 569 477128 6671151 1709 110.4 -45.3 Surface Rainbow 2 Zone SKC
SC21-017 435 477128 6671151 1709 136.3 -45.5 Surface Rainbow 2 Zone SKC
SC21-018 398 477128 6671151 1709 168.2 -47.7 Surface Rainbow 2 Zone SKC
SC21-019 286 478032 6671300 1348 316.5 -52.8 Surface Rainbow Zone SKC
SC21-020 371 478066 6671254 1357 318.5 -55.8 Surface Rainbow Zone SKC
SC21-021 368 478065 6671253 1357 303 -54.8 Surface Rainbow Zone SKC
SC21-022 597 478101 6671140 1390 286.7 -55 Surface Rainbow Zone SKC
SC21-023 456 478065 6671253 1357 299 -61 Surface Rainbow Zone SKC
SC21-024 530 477129 6671151 1708 120 -51.5 Surface Rainbow 2 Zone SKC
SC21-025 548 478101 6671144 1386 295.2 -52.8 Surface Rainbow Zone SKC
SC21-026 423 477129 6671151 1708 129 -51 Surface Rainbow 2 Zone SKC
SC21-027 572 478101 6671143 1386 305 -54 Surface Rainbow Zone SKC
GG21-001 694 483746 6673100 1020 138.5 -44.4 Surface Goddell GOD
GG21-002 658 483746 6673100 1020 150.8 -53.2 Surface Goddell GOD
RACA21-002 482 478072 6671724 1272 334.9 -60 Surface Raca SKC
RACA21-003 537 478173 6671703 1268 338 -60.4 Surface Raca SKC
MS11-01 81 473575 6674704 1905 106 -50 Surface Lake Zone MTS
MS11-02 101 473575 6674704 1905 104 -63.6 Surface Lake Zone MTS
MS11-02A 90 473574 6674701 1905 106 -60 Surface Lake Zone MTS
MS11-03 101 473574 6674702 1905 99 -60 Surface Lake Zone MTS
MS11-04 102 473574 6674700 1905 116.3 -59.3 Surface Lake Zone MTS
MS11-08 243 473441 6674748 1926 107.6 -52.5 Surface Lake Zone MTS
87-365 82 473574 6674702 1906 106.1 -61 Surface Lake Zone MTS
87-370 91 473572 6674705 1907 97.8 -69.8 Surface Lake Zone MTS
87-372 113 473540 6674705 1904 104.1 -63.1 Surface Lake Zone MTS
87-373 122 473539 6674705 1904 98.1 -73 Surface Lake Zone MTS
88-291 56 473466 6674706 1754 50.8 -34.5 1750 level Lake Zone MTS
88-508 79 473574 6674715 1907 125.1 -62.5 Surface Lake Zone MTS
86-192 209 473425 6674734 1928 107 -58 Surface Lake Zone MTS

 

Quality Assurance and Quality Control

Drill core from the Company’s 2021 exploration program was logged and sampled in a secure core storage facility located at the Project site. Core samples from the 2021 program were cut in half, using a diamond cutting saw. Drill core and surface samples were sent to ALS Laboratories which are independent of the Company. Sample preparation was performed at the ALS Laboratory in Whitehorse, Yukon, followed by analysis at the ALS Laboratory in North Vancouver, British Columbia. ALS is an accredited mineral analysis laboratory. All samples were analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold were analysed utilizing standard Fire Assay-Gravimetric methods. Samples were also analyzed for a 48 multielement geochemical suite by ICP-MS with a four-acid digestion. Certified gold reference standards, blanks, field duplicates and coarse reject duplicates were routinely inserted into the sample stream, as part of Whitehorse Gold’s quality control/quality assurance program.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The Qualified Person has verified the information disclosed herein, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein. Alex Zhang is the Vice President, Exploration of New Pacific Metals Corp..

ABOUT WHITEHORSE GOLD CORP.

Whitehorse Gold is a responsible mineral exploration and development company focused on its 170-square-km Project located in southern Yukon, approximately 55 km south-southwest of Whitehorse. The Project hosts the advanced-stage Skukum Creek and Goddell deposits, and the formerly producing Mt. Skukum high-grade gold mine, all of which remain open for expansion, plus additional untested mineralized occurrences. Project infrastructure includes an all-weather access road, a 50-person camp, approximately 6 kms of underground development, and a previously operating 300-tpd mill and associated support facilities. Underground operations by a previous operator at Mt. Skukum from 1986 to 1988 saw 233,400 tons of ore mined and processed to recover approximately 79,750 ounces of gold (Total Energold Corporation, 1989). The company is also reviewing other mining assets in jurisdictions that provide year-round access.

On Behalf of Whitehorse Gold Corp.
signed “Gordon Neal”
Gordon Neal, CEO & Director

For further information please contact:
Investor Relations, Whitehorse Gold Corp.
Phone: 604-336-5919
Email: [email protected]
www.whitehorsegold.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact included in this news release, including, without limitation, future plans with respect to the Project, including the 2022 exploration and resource upgrade and expansion plans, the success of exploration activities, development potential and plans at the Project, the future economics of the Project, future exploration and drill results from the Project and other future plans, objectives or expectations of the Company are forward-looking statements. Forward-looking statements are often, but not always, identified by words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Forward-looking statements are based on the opinions, assumptions, factors and estimates considered reasonable at the date the statements are made. The opinions, assumptions, factors and estimates which may prove to be incorrect, include, but are not limited to: that the Company will be able to carry on current and future operations as planned; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; that market fundamentals will result in sustained precious metals demand and prices; that there are no significant disruptions affecting operations, including labour disruptions, supply disruptions, power disruptions, security disruptions, damage to or loss of equipment, whether due to flooding, political changes, title issues, intervention by local landowners, environmental concerns, pandemics (including COVID-19) or otherwise; that the Company will be able to obtain and maintain governmental and regulatory approvals, permits and licenses in connection with its current and planned operations, development and exploration activities; that the Company will be able to obtain / maintain social licence at the Project; that the Company will be able to meet its current and future obligations; that the Company will be able to comply with environmental, health and safety laws; that the Company will be able to secure financing on suitable terms; the assumptions underlying mineral resource estimates and the realization of such estimates; and other assumptions and factors generally associated with the mining industry.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others: social and economic impacts of COVID-19; actual exploration results; changes in project parameters and outcomes as plans continue to be refined; results of future exploration activities and resource estimates; future metal prices; availability of capital and financing on acceptable terms; general economic, market or business conditions; risks associated with community relations and corporate social responsibility; uninsured risks; regulatory changes; defects in title; availability of personnel, materials and equipment on a timely basis; accidents or equipment breakdowns; delays in receiving government and regulatory approvals; unanticipated environmental impacts on operations and costs to remedy same; and other exploration risks or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

Cautionary Note to US Investors

The disclosure in this news release and referred to herein was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the “SEC”). The terms “proven mineral reserve”, “probable mineral reserve” and “mineral reserves” used in this news release are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the “CIM Definition Standards”), which definitions have been adopted by NI 43-101. Accordingly, information contained in this news release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.

Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, “Inferred mineral resources” are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures.

Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the “SEC Modernization Rules”), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Mineral Resources”. In addition, the SEC has amended its definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to corresponding definitions under the CIM Definition Standards. During the period leading up to the compliance date of the SEC Modernization Rules, information regarding mineral resources or reserves contained or referenced in this news release may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be “substantially similar” to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as “proven mineral reserves”, “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules.

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