Keveri Copper-Gold Porphyry Project Technical Presentation...

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Keveri Copper-Gold Porphyry Project Technical Presentation Exploring for the next Tier-1 Cu-Au Deposit in Papua New Guinea Spring/Summer 2020 1 High grade copper float from Waki Prospect, 3.88% Cu Recent GBRX discovery at Keveri Project

Transcript of Keveri Copper-Gold Porphyry Project Technical Presentation...

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Keveri Copper-Gold Porphyry ProjectTechnical Presentation

Exploring for the next Tier-1 Cu-Au Deposit in Papua New Guinea

Spring/Summer 20201

High grade copper float from Waki Prospect, 3.88% CuRecent GBRX discovery at Keveri Project

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Forward Looking Statement & Disclaimer

This document contains "forward-looking information" within the meaning of applicable Canadian securities legislation and United Stated federal securities laws. Forward-looking information includes, but is not limited to, information with respect to future exploration and development plans, the adequacy of Golden Birch's financial resources, business plans and strategy and other events or conditions that may occur in the future. Generally, forward-looking information can be identified by the use of forward- looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Golden Birch to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining industry such as economic factors as they effect exploration, future commodity prices, obtaining financing, market conditions, changes in interest rates, actual results of current exploration activities, government regulation, political or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources and reserves; contests over title to properties, and changes in project parameters as plans continue to be refined. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Assumptions have been made regarding, among other things: Golden Birch's ability to carry on its exploration and development activities, the timely receipt of any required approvals, the price of metals, the ability of Golden Birch to obtain qualified personnel, equipment and services in a timely and cost-efficient manner, the ability of Golden Birch to operate in a safe, efficient and effective manner, the ability of Golden Birch to obtain financing on acceptable terms, the accuracy of Golden Birch's resources estimates and geological, operational and price assumptions on which these are based and the regulatory framework regarding environmental matters. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Although Golden Birch has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Golden Birch does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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Golden Birch Resources at a Glance

§ Agreement with Papuan Minerals Pty Ltd to acquire 85% of Papuan Minerals Ltd that owns 100% of Exploration Licenses (EL’s) 2391 & 2560 called the “Keveri Project” (“Keveri”), Papua New Guinea (PNG).

§ Keveri is located in the southeast part of the Papuan Mobile Fold Belt (or New Guinea Mobile Belt), a geologic belt with Tier-1 porphyry deposits rich in copper & gold.

§ As at March 2, 2020 listing date, $1.4m cash, 73.8m sh issued, stock options 7.4m, fully diluted 81.2m sh

§ Exploration in 4Q2018 to 1H2019 defined a large (1.5km x 1.5 km) target exhibiting Tier-1 porphyry characteristics at Omu with coincident geological alteration, soil & rock geochemical & induced polarization anomalies

§ GBRX geologists make new discovery east of Omu, “Waki” prospect, a large target (1.0 km x 1.0 km) centered on an airborne magnetic high with characteristics of a Tier-1 porphyry system

§ Construction of Access Track from Doma Village to Keveri project planned for April-June period§ Planning of drill program for Omu targets in progress, details to be announced in due course.

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Directors and Management

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Alan Martin HBSc. - President, CEO & Managing Director, Sydney, Australia

§ Geologist, 20+yrs investment markets, mining analyst/portfolio manager Westpac, Colonial First State Investment Management and Insurance Australia Group, SolGold CEO/MD 2013-2015, early stage discovery, Ecuador, Honours Bachelor of Geology, Lakehead University, Thunder Bay, Ontario.

Iain Martin MSc. - CAO, Executive Director and Secretary, Timmins, ON, Canada

§ MSc Mining Engineering, Queen’s University, +20 years experience Investment Advisor, RBC Wealth Management, founder and CEO/director of 5SD Capital 2016-2018

David Drinkwater LLM, BAdmin – Chair, Toronto, ON, Canada

§ Currently Chair and Director of Transalta Renewables, 30+ yrs, Executive positions with Rothschild Canada, Nortel, Ontario Power Generation, Masters in Laws, LSE and Bachelor of Law Dalhousie University, Business Admin University of Western Ontario

Andrew Morris MBA – Director, Brisbane, Australia

§ Also serves as Director of Papuan Minerals Pty, Ltd, assists foreign and domestic companies with trade and investment opportunities across Australia’s resources and energy sectors.

Dr. David Lindley – Director, New South Wales, Australia

§ +40 yrs geological experience PNG, director of Papuan Minerals Pty Ltd, long-established network of connections PNG exploration industry, geological work in the Keveri-Mt. Suckling area spans +30 years.

Paul Rokeby CPA, CA.- Chief Financial Officer, and Treasurer, Timmins, ON, Canada

§ Partner of MNP, exploration companies experience and general accounting practices – 30 years

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Technical Team

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Alan Martin HBSc. - President & CEO GBRX, based in Sydney, Australia

§ Geologist, +20 yrs investment markets, mining analyst/portfolio manager Westpac, Colonial First State Investment Management and Insurance Australia Group, SolGold CEO/MD 2013-2015, early stage discovery, Ecuador, Exploration Geologist Delta Gold 1985-1992. Honours Bachelor of Geology, Lakehead University, Thunder Bay, Ontario, Canada.

Leo Dagdag - Senior Geologist

§ +20 years experience, 15 years porphyry experience including Star Mtns Project, PNG & Tujuh Bukit, Indonesia

Mark Hill - Senior Geologist

§ 30 years geological experience

Eu Atase - Senior Field Geologist, PNG

§ +15 years geological experience PNG,

Richard Moore - Senior Field Geologist, PNG

§ +15 years geological experience PNG,

David Lindley - Technical Advisor (also director of GBRX)

§ 40 years geological experience, founding director of PML

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Corporate Structure, Ownership & Financings - 2018-2020

Shares Outstanding – 73.8M | Options – 7.4M | Fully Diluted – 81.2M | Cash - $1.4M Feb 2020

§ 226 shareholders, insiders 23%, friendly investors 77% on listing § 1st Financing Sept-Oct 2018 --- $1.31M ($0.051/share)

Option deal agreement in place, initiated mapping, rock sampling, soil geochemistry on Omu target, relationship building with local communities

§ 2nd Financing Mar-June 2019 ---$2.856M ($0.10/share)Advanced exploration on Omu and Daru/Araboro targets, new target identified at Waki, completed IP Survey on Omu, draft NI 43-101, preparation for Listing

§ 3rd Financing $851k ($0.15/share) Sept 2019§ March 2, 2020 CSE listing at $0.15 per share, symbol “GBRX”

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Why PNG? Land of Tier-1 Deposits Proven Tier-1 Region

§ Numerous Tier-1 porphyry deposits rich in Cu & Au in the “Papuan Mobile Fold Belt” or “New Guinea Mobile Belt”

§ Wafi–Golpu is the most recent Tier-1 Cu-Au discovery in PNG

§ Much of PNG remains under-explored

§ High probability remains for discovering new Tier-1 size Cu & Au deposits

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Earth’s Geoid – PNG’s Cu-Au Potential

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Papuan Mobile Fold Belt

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Keveri Project

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Keveri Project – Structural Setting

The Keveri Project is located in the southeastern part of the Papuan Mobile Fold Belt at the intersection with key NE trending transfer structures, shown to be associated with porphyry copper-gold deposits in PNG.

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The Keveri Project

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Prospect and Target areas § Primary focus on Omu &

Urua-Everi & Waki

§ Recent discovery at Waki§ Araboro-Daru located

within a series of nested geomorphological circular features

§ Other target areas: Ioleu, Nonia and Yokai.

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Cu-Au Soil Contours & Main Structural Features

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§ Keveri prospect locations defined by Cu & Au soil contours with the regional structural features over the magnetic image (gray scale)

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Cu-Au Soil Contours & Main Structural Features

• The NW trending arc parallel Keveri Fault dissects the Project area.

• Numerous NE trending arc normal Transverse structures are shown in the magnetics

• Numerous prospects with significant Cu-Au soil footprints occur within the project.

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Cu-Au Soil Contours over Sentinel Image

§ Keveri prospect locations defined by Cu & Au soil contours with the regional structural features over the sentinel satellite image

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Summary of Exploration § Omu:§ Soil geochemical anomalies over large area (>1.5 km x >1.5 km), coincident with hydrothermal alteration zones identified from

geological mapping, anomalous rock outcrop & rock float sampling and IP chargeability anomalies (IP survey +1.5km x +1.5 km)

§ Urua (Everi):§ Widespread occurrence of py & cpy, qtz stockwork veining and porphyry-type alteration (widespread argillic, phyllic and propylitic)§ Cu and Au mineralization mainly in hydrothermal breccias as shown in rocks, drillcore and trenches

§ Waki:§ Recent discovery by GBRX geologists, not uncovered by previous exploration§ Prospecting & initial geologic mapping has identified outcropping Cu & Au mineralization in hydrothermally altered mafic rocks,

coincident with an airborne magnetic (“high”) anomaly with large foot print (1 km x 1 km x +600m depth)§ Wide-spaced soil geochemical sampling by GBRX confirms coincident Cu-Au-Mo anomalies

§ Araboro-Daru:§ Defined by a series of nested circular geomorphological features, >1.5 kms x >1 km§ Cu-Au-Mo in-soil anomalies associated with hydrothermally altered mafic rocks, intrusive rocks present, open to east§ High grade copper in float samples within target area

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Omu Geology and Alteration Map

• Multiple diorite intrusions were mapped and confirmed by petrographic analysis.

• Diorite intrusions in mafic-ultramafic wall-rocks.

• Chlorite + sericite dominated hydrothermal alteration and secondary magnetite with localised structurally controlled sericitic alteration.

• Mineralization is mainly disseminations/blebs of chalcopyrite in chlorite + sericite mafic-ultramafic, in quartz + epidote veins and occurring as disseminations and blebs both in altered clasts and matrix.

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Omu - hydrothermal mineralisation

RM-019

Oxidised surface of RM-019 breccia with chalcopyrite blebs and malachite, south end of Didi creek.

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Omu - hydrothermal breccias

0.164% Cu, 5.22g/t Au, 1.3g/t Ag, 10ppm Mo (FLOAT)

LD-0031

0.131% Cu, 0.012g/t Au, 0.23g/t Ag, 0.32ppm Mo (OUTCROP)

Poorly sorted; matrix-supported breccia ; angular clasts of epidoteand illitic clays set in a black, weakly magnetic matrix; cpy±py (<1%)mainly as blebs and dis both in clasts and matrix at Michael’s Creek.Angular clasts of illitic clays set in a sulphide cement at

south end of Didi Creek.

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Sheeted sub-vertical quartz+pyrite±chalcopyrite veins; sulphide as central seam in quartz vein (B-vein?)

Outcrop photo

Omu - sheeted veins

Sheeted sub-vertical quartz - sulphide veins hosted by phyllic altered mafic with sericite + silica at main Omu creek..

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Omu - sheeted veins

Sheeted sub-vertical qtz-epidote-sulphide veins hosted by chl-ser (chlorite – sericite) altered mafic atmain Omu and Didu creeks.

Sample from the sub-vertical qtz-epidote-sulphide veins hosted by chl-seraltered mafic at Didu creek.

RM-002

2.89% Cu, 0.044g/t Au, 6.1g/t Ag (OUTCROP)

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109435

1.7% Cu, 0.019g/t Au, 9.3g/t Ag, 7ppm Mo (OUTCROP)

Yaing’s sample: highly oxidised (goe-MnO-hem) fine-grained basalt with pervasive sericite-silica alteration.

0.568% Cu, 0.171g/t Au, 2.6g/t Ag, 4ppm Mo (FLOAT)

EA-024

Silicified angular float of quartz – pyrite - chalcopyritevein with 5-8% pyrite at south end of Didi Creek.

Omu – hydrothermal mineralisation

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Omu high-grade copper floats

6.88% Cu, 0.052g/t Au, 6.4g/t Ag, 3ppm Mo (FLOAT)

RF-18100806RF-18100910

5.52% Cu, 0.121g/t Au,9.1g/t Ag (FLOAT)

AM-0001

6.57% Cu, 0.056g/t Au, 10g/t Ag, 28ppm Mo (FLOAT)

Quartz-cpy-bn vein hosted in basalt.Massive qz-cp vein with malachite.

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Omu IP – near surface drill targets

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• IP survey defines at least 2 distinct chargeability targets at Omu Prospect

• Section at 120m below surface

• Omu Main - approximately 800m long by 300-400m wide

• Omu NE is 300-500m long by 200-300 m wide

• Both targets have coincident copper in soil anomalies and copper mineralization in outcrop

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Omu IP – anomalies extend >300m depth

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• Both Omu Main and Omu NE targets maintain their chargeability amplitude to depths of >300m

• IP survey limits between 300 and 400m depth

• Omu Main anomaly widens at depth and dips moderately to the south

• Omu NE appears to remain vertical

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Omu IP – plan view of key anomalies

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Plan view of the 3DIPchargeability models.Key IP anomalies namedMain Target and NETarget.

North

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Omu IP Chargeability Anomalies - Section View

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Omu IP 3D Model – Oblique View

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Omu IP Section 697500E – possible drillhole

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Urua-Everi Prospect Summary

• The prospect is situated on a dextral jog in the NW-SE trending “arc parallel” Keveri Fault.

• It is coincident with a significant magnetic low bounded by Keveri Fault and NE trending “arc normal” transfer fault, Urua Creek Fault

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Urua soil geochemistry

Strong coincidence of ~900x800m Cu,Au and Mo in soils along with Zndepletion, with Cu/Zn ratio (10x)contour.

Urua Cu-Mo-Au

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Urua Trench Cu-Au Results Trench_Id ppmAu ppmCu Length(m) Significant IntervalTrench01 0.37 482 9 9m @ 0.37ppmAu, 482ppmCuTrench01 0.05 1589 6 6m @ 0.05ppmAu, 1589ppmCuTrench01 0.21 1001 42 42 @ 0.21ppmAu, 1001ppmCuTrench01 0.22 192 6 6m @ 0.22ppmAu, 192ppmCuTrench01 0.05 987 12 12m @ 0.05ppmAu, 987ppmCuTrench01 0.07 1538 27 27m @ 0.07ppmAu, 1538ppmCuTrench02 0.12 1623 18 18m @ 0.12ppmAu, 1623ppmCuTrench03 0.45 519 6 6m @ 0.45ppmAu, 519ppmCuTrench03 0.34 1119 42 42m @ 0.34ppmAu, 1119ppmCuTrench03 0.12 995 21 21m @0.12ppmAu, 995ppmCuTrench03 0.27 1430 27 27m @ 0.27ppmAu, 1430ppmCuTrench03 0.55 2483 5 5m @ 0.55ppmAu, 2483ppmCuTrench04 0.39 975 3 3m @ 0.39ppmAu, 975ppmCuTrench05 0.66 7893 15 15m @ 0.66ppmAu, 7893ppmCuTrench05 1.92 11329 12 12m @ 1.92ppmAu, 11329ppmCuTrench05 0.48 570 15 15m @ 0.48ppmAu, 570ppmCuTrench06 0.54 166 24 24m @ 0.54ppmAu, 166ppmCuTrench06 0.12 243 6 6m @ 0.12ppmAu, 243ppmCuTrench08 0.60 395 6 6m @ 0.6ppmAu, 395ppmCuTrench08 0.24 232 12 12m @ 0.24ppmAu, 232ppmCuTrench08 0.27 88 9 9m @ 0.27ppmAu, 88ppmCuTrench10 1.04 157 3 3m @ 1.04ppmAu, 157ppmCuTrench11 0.20 298 9 9m @ 0.2ppmAu, 298ppmCuTrench11 0.13 163 21 21m @ 0.13ppmAu, 163ppmCuTrench13 0.38 426 15 15m @ 0.38ppmAu, 426ppmCuTrench14 0.60 1366 3 3m @ 0.6ppmAu, 1366ppmCuTrench14 0.15 434 9 9m @ 0.15ppmAu, 434ppmCuTrench15 0.11 186 6 6m @ 0.11ppmAu, 186ppmCuTrench12 0.16 317 6 6m@ 0.16ppmAu, 317ppmCuTrench12 0.14 226 18 18m @ 0.14ppmAu, 226ppmCuTrench12 0.23 139 15 15m @ 0.23ppmAu, 139ppmCu

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Urua 3DIP chargeability anomaly with 250 ppm Cu in soil contours

• Coincidence of 250ppm Cu in soil contours and >20mV/V 3DIPchargeability anomaly.

• URD-001 intercepted 0.1 - 3% pyrite from 12m – 315.7m (EOH).

East-West Long-section (looking north) of Urua 3DIP chargeability data, overlying 250ppm Cu in soils contours

Cross Section 699800E (looking west) of Urua 3DIP data, with overlying250ppm Cu in soils contours

URD-001

URD-002

URD-003

URD-002

URD-003URD-001

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450mRL Flitch Plan (~300m depth) view of the Urua 3DIPdata, DH traces URD002, URD003, chargeability contours.

Plan View of Laplacian (2nd horizontal derivative) magnetics Image, 3DIPchargeability high @ 450mRL contours, 250 ppm Cu, Cu/Zu ratio and Au insoils contours.

Urua IP chargeability anomaly with magnetics and soil geochem contours

20mV/V

30mV/V

35mV/V

40mV/V

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Urua – high grade gossan & wood fragments in rock at surface

Gossan found near Trench 1 – 37g/t Au Wood Fragment found in Hydrothermal Breccia near Trench 1Evidence of intrusive/hydrothermal activity

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Urua hydrothermal breccias

URD-002/244.9m depth. Peppered and patchy sulphides(pyrite, chalcopyrite and pyrrhotite) in hydrothermalbreccia.

16294

Anomalous Cu & Au in drill holesassociated with hydrothermalbreccia.

0.1492%Cu, 0.015g/t Au

URD-002/30.2m depth. Hydrothermal breccia with ultramaficclasts with quartz and sulphide matrix. Vein fragment (arrow)stoped out by brecciation?

16173

0.0829% Cu, 0.7g/t Ag, 1ppm Mo

URD-003/248m depth. Sulphide and quartz/carbonatematrix in chlorite altered hydrothermal breccia

16473

0.007% Cu, 0.003g/t Au URD-002/267m depth. Epidote flooding of hydrothermalbreccia. Epidote overprinting white veinlet with late whitestringers truncating epidote.

16311

0.0042% Cu, 0.003g/t Au, 1ppm Mo

URD-003/285.5m depth. Hydrothermal breccia with silicaaltered clasts and epidote+chlorite matrix.

16492

0.0067% Cu, 0.016g/t Au, 3ppm Mo

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Urua Cu-Au grades associated withhydrothermal magnetite

URD-002/209.6-210.2m interval. Quartz/carbonate, sulphide and chloritic clasts in magnetite.

Significant Cu & Au in drill holes associated with hydrothermal magnetite. Possibly introduced by hydrothermal activity from depth?

URD-002/203.6m depth. Chalcopyritetruncated by white stringer hosted bymagnetite.

16266

1.1584% Cu, 0.257g/t Au, 1.8 g/t Ag, 2ppm Mo

URD-002/208.85m depth. Chalcopyrite as wispy veins & veinlets in magnetite.

0.9971% Cu, 0.882g/t Au, 1.4g/t Ag, 2ppm Mo

1627016272

3.4587% Cu, 6.39g/t Au, 8.1g/t Ag, 2ppm Mo

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Urua - drill core photos

URD-002/34.6m depth. Chalcopyrite mineralization in ultramafic rock.

16175

0.0717% Cu, 0.7g/t Ag

16192

0.3257% Cu, 0.9g/t Ag

URD-002/69 m depth. Hydrothermal breccia withquartz and sulphide cement hosted by ultramafic

URD-002/140.5m depth. Chalcopyrite vein withsemi-translucent quartz vein hosted by ultramafic

16229

0.1591% Cu, 0.042g/t Au

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§ GBRX geologists make new discovery (May 2019) east of Omu Prospect

§ Early stage results for Waki Prospect display characteristics similar to Tier-1 porphyry systems

§ High grade Cu & Au in both in situ outcrop & select rock float samples

§ Initial exploration yields coincident; alteration of mafic & intrusive rocks, Cu-Au-Mo soil anomalies, high grade Cu & Au in float & outcrop samples

§ Associated with significant magnetic inversion anomaly (magnetic “high”)

§ Follow-up exploration required

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Waki Prospect –Recent GBRX Discovery

Gossanous mineralized brecciated quartz vein, with chalcopyrite>pyrite +- bornite, in chlorite-sericite-silica altered diorite (float #109260; 3.39% Cu, 1.345 g/t Au)

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Waki Soil and Rock Chip Cu-Au Results

• Hydrothermal mineral alteration is composed mainly of outer propylitic alteration with strong phyllic alteration proximal to the hydrothermal breccias and quartz veins.

• Mineralization is mainly disseminated fine chalcopyrite with rare chalcopyrite veinlets, associated with the hydrothermal and breccias and quartz veins

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Waki – characteristic Cu & Au mineralisation for porphyry deposits

Copper mineralization occurrences in Waki:• Disseminated & veinlets of fine chalcopyrite• Chalcopyrite in sheeted veins• Supergene copper (malachite + azurite) 42

Mineralized sheeted quartz veins in mafic rocks with pyrite & chalcopyrite in outcrop (0.34% Cu, 15.5 g/t Au)

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Waki – high grade Cu & Au

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Rock float sample of brecciated gossanous + sericite altered mafic with disseminated chalcopyrite (top)

Rock float sample of brecciated quartz vein with fragments of diorite and finely disseminated pyrite, chalcopyrite and minor (very fine-grained) molybdenite (left)

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Waki – Cu & Au in Outcrop

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Outcrop sample of quartz + epidote with finely disseminated pyrite + chalcopyrite

Grab sample from an outcrop of quartz + epidote with dissemination fine pyrite + chalcopyrite

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Waki – characteristics of Tier-1 Porphyry System being geology, alteration & widespread Cu-Au mineralisation

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Brecciated quartz + chalcopyrite + bornite and malachite from 50x60cm sub-angular boulder in RE Creek, Waki Prospect (#109014 3.88% Cu)

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Daru Soil Cu-Au-Mo Contours

• Hydrothermal mineral alteration is composed mainly of outer propylitic alteration with strong phyllic (sericite-silica-pyrite) alteration associated with the NE cross cutting structures

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Daru Geology and Rock Chip Results

• Cu-Au Mineralization is mainly disseminated fine chalcopyrite with rare chalcopyrite veinlets, associated with the zones of phyllic alteration

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Daru hydrothermal alteration

PHYLLIC OVERPRINT ON PROPYLITIC

106785

3.12% Cu, 0.016g/t Au, 7.6g/t Ag, 68ppm Mo (FLOAT)

Chlorite-sericite-pyrite-quartz altered mafic porphyry withdisseminated chalcopyrite + bornite and fracture-controlledgoethite-limonite-Mn oxide-hematite coatings.

Phyllic overprint on epidote + chlorite altered mafic.Disseminated fine chalcopyrite with quartz veinlet.

106787

0.154% Cu, 0.016g/t Au, 0.6g/t Ag, 2ppm Mo (FLOAT)

qz vnlt

cp

bn

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Daru hydrothermal alteration

0.968% Cu, 0.126g/t Au, 1ppm Mo (FLOAT)

Sericite-Chlorite altered mafic with very finedisseminated chalcopyrite.

109035 109210

0.107% Cu, 1.24g/t Au, 2ppm Mo (FLOAT)

Moderate Silica - sericite altered mafic withchalcopyrite veinlet.

109220

0.931% Cu, 0.335g/t Au (FLOAT)

Weakly altered ultramafic with disseminated fine-grained and fracture-controlled chalcopyrite.

cp

cp

PHYLLIC OVERPRINT ON PROPYLITIC

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Daru hydrothermal alteration

SERICITERMA-017

0.111% Cu, 0.023g/t Au, 14ppm Mo (FLOAT)

Sericite-pyrite-clay altered mafic withdisseminated fine pyrite and chalcopyrite.

0.172% Cu, 0.007g/t Au, 1.5g/t Ag (FLOAT)

Chlorite-sericite altered mafic with quartz vein andbornite-malachite patches.

bnmal

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Daru hydrothermal alteration

QUARTZ VEINS

FPA-004

3.63% Cu, 0.009g/t Au, 7.9g/t Au, 28ppm Mo (FLOAT)

Chlorite-epidote altered ultramafic with strong pyrite + chalcopyrite in quartz vein.

FPA-002

0.119% Cu, 3ppm Mo (OUTCROP)

Quartz stockwork with very fine-grained chalcopyrite in veins.

cp

py

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Daru mineralization

109113

0.721% Cu, 0.007g/t Au (FLOAT)

109114

0.154% Cu, 0.005g/t Au, 3ppm Mo (FLOAT)

Sericite-epidote altered rock withMalachite

Qtz vein breccia with hem-goe-Mn onfractures and veinlets.

Qtz-epi-cpy-mal-azu vein hosted in ultramafic.

RMA-012

4.19% Cu, 0.005g/t Au, 8.7g/t Ag (FLOAT)

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Supergene copper mineralization

MALACHITE/CHRYSOCOLLA106792

3.03% Cu, 0.054g/t Au, 2.8g/t Ag, 5ppm Mo (FLOAT)

Phyllic-altered ultramafic with malachite coatings andfracture-controlled limonite.

Phyllic--altered ultramafic with malachite and limonitecoatings.

mal/ccl

106794

2.27% Cu, 0.118g/t Au, 1.7g/t Ag, (FLOAT)

mal/ccl

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Omu

• Omu has the characteristic of a big porphyry coppersystem as evidenced by porphyry-type intrusions,alterations and mineralization and large Cu soilfootprints. Target depth for the potassic zone is >=200m?

• Widespread argillic/phyllic with some epidote-dominantpropylitic alteration at Urua-Everi and target depth ofthe potassic core and mineralization is >=300m from thesurface. Area between Trench 1 & Trench 3 and Trench 3& Trench 5 remains untested by drilling.

• Based on the alteration, the present erosional levelsuggest that the Waki breccias are in the sericiticalteration zone with a potential intrusion underneaththat caused the alteration and mineralization. Targetdepth to the potassic zone is >=200-300m.

• Mapped intrusions with encouraging Cu-Aumineralization. Structurally controlled phyllic with someepidote-dominant propylitic and silica (quartz veining)alteration at Daru. Target depth to the potassic zone is>=200-300m.

Omu

Sillitoe 2010

Keveri ProspectsWhere are they in the system?

WakiDaru

UruaEveri

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Future Program - 2020

§ Exploration activities for include:§ Preparations for construction of Access Track planned for April - June period from Doma

village to Keveri Site (approx 34km) § Planning of drill program for Omu targets in progress. § Continue exploration on recent Waki discovery and at Daru/Araboro.

§ Corporate§ Management continues to maintain a lean corporate overhead.§ Keveri is the primary focus however the Company is open to evaluating opportunities where

shareholder value can be created.

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Social & Community – strong relationships

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§ Christmas parcels delivered to Doma village December 2018

§ Recent meetings Dec 2019 & Jan 2020 with local landowners and Clan Leaders resulted in majority support for construction of access track to Keveri Exploration site

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Offices and Contact Details

57

Registered Office and Mailing Address:

• 140 Cook’s Lake Road, Timmins Ontario, P4R 0B7 Canada

Regional Office:

• Sydney NSW Australia

• Alan Martin (President/CEO & Exec Director): [email protected]: +61.488.22.3828

• Iain Martin (CAO & Exec Director): [email protected]: 1.705.288.0249

• Goldenbirchresources.ca