Mineral Resources and Reserves

QUINCHIA GOLD PROJECT - SUMMARY MINERAL RESOURCE ESTIMATE (MRE)

Quinchia subzone Resource Category CUT-OFF TONNES (Mt) Au (g/t) Au (koz)
Tesorito Inferred 0.5g/t Au 50.0 0,81 1,298
Dosquebradas Inferred 0.5g/t Au 20.2 0.71 459
Miraflores - U.Ground Measured + Indicated 1.2g/t Au 9.3 2.82 840
Miraflores - U.Ground Inferred 1.2g/t Au 0.5 2.36 37
QUINCHIA RESOURCE     80.0 1.02 2,634

Note: Miraflores Resources includes Miraflores Reserve

DETAILS OF QUINCHIA SUBZONES

Tesorito Inferred MRE at various gold grade cut-offs (21 March 2022)

CUT-OFF TONNES (Mt) Au (g/t) Ag (g/t) Au (koz) Ag (koz)
0.25g/t Au 134.3 0.53 0.62 2,290 2,673
0.5g/t Au 50.0 0.81 0.75 1,298 1,205
0.6g/t Au 33.4 0.94 0.82 1,006 880

The information presented here that relates to Mineral Resources of the Tesorito Project, Quinchia District, Republic of Colombia is based on and fairly represents information and supporting documentation compiled by Mr. Michael Andrew of Snowden Optiro. First published 21 March 2022. No material change has occurred after that date that may affect the JORC Code (2012 Edition) Mineral Reserve estimation.

Note: Applying an optimised pit shell with 0.25g/t Au cut-off using an input gold price of US$1,800/oz. Strip ratio of optimised pit shell is (waste:ore) 0.75.

Dosquebradas Inferred MRE at various gold grade cut-offs (25 February 2020)

CUT-OFF TONNES (Mt) Au (g/t) Ag (g/t) Au (koz) Ag (koz)
0.3g/t Au 57.8 0.5 0.6 921 1,036
0.4g/t Au 34.6 0.6 0.6 664 684
0.5g/t Au 20.2 0.71 0.7 459 432

The information presented here that relates to Mineral Resources of the Dosquebradas Project, Quinchia District, Republic of Colombia is based on and fairly represents information and supporting documentation compiled by Mr. Scott E. Wilson of Resource Development Associates Inc, of Highlands Ranch Colorado, USA. Mineral Resource estimated by Resource Development Associates Inc. First published 25 February 2020. No material change has occurred after that date that may affect the JORC Code (2012 Edition) Mineral Reserve estimation

Note: No more than 6m internal waste is included in the weighted intervals. Based on gold selling price of US$1,470/oz

Miraflores MRE at 1.2g/t Au cut-off (14 March 2017)

CATEGORY TONNES (Mt) Au (g/t) Ag (g/t) Au (koz) Ag (koz)
Measured 3.0 2.98 2.49 283 237
Indicated 6.3 2.74 2.9 557 588
Measured & Indicated 9.3 2.82 2.77 840 826
Inferred 0.5 2.36 3.64 37 57

The Miraflores Project Mineral Resource estimate has been estimated by Metal Mining Consultants in accordance with the JORC Code (2012 Edition) and first publicly reported on 14 March 2017. No material changes have occurred after the reporting of these resource estimates since their first reporting.

Note: These Mineral Resources are inclusive of the Ore Reserves listed in the following table, below. Rounding may result in minor discrepancies. Based on gold selling price of US$1,470/oz

Miraflores Reserve (27 November 2017)

CATEGORY TONNES (Mt) Au (g/t) Ag (g/t) Au (koz) Ag (koz)
Proved 1.7 2.75 2.2 150 120
Probable 2.6 3.64 3.13 307 264
Total 4.3 3.29 2.77 457 385

The Miraflores Project Ore Reserve estimate has been estimated by Ausenco in accordance with the JORC Code (2012 Edition) and first publicly reported on 18 October 2017 and updated on 27 November 2017.  No material change has occurred after 27 November 2017 that may affect the JORC Code (2012 Edition) Ore Reserve estimation.

Note: Rounding-off of numbers may result in minor computational errors, which are not deemed to be significant. These Ore Reserves are included in the Mineral Resources listed in table above. . Based on gold selling price of US$1,300/oz.

COMPETENT PERSONS STATEMENT 

Los Cerros - Exploration Results

The technical information related to Los Cerros assets contained in this report that relates to Exploration Results (excluding those pertaining to Mineral Resources and Reserves) is based on information compiled by Mr Cesar Garcia, who is a Member of the Australasian Institute of Mining and Metallurgy and who is a Geologist employed by Los Cerros on a full-time basis.  Mr Garcia has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.  Mr Garcia consents to the inclusion in the release of the matters based on the information he has compiled in the form and context in which it appears.