Newfoundland and Labrador...Assessment Report on Prospecting and Rock Sampling Licences 023797M NTS...

Government of Newfoundland and Labrador Department of Natural Resources

Mineral Lands Division

Geological Survey No:

Registry File Nos:

Confidential Until:

Mineral Rights:

Licence Extended Licence Impost Mining Lease Regional Other

Licence/Property

No. of Claims Assessment Year

Date Issued

NTS Map

Continued next page Yes No Number of Volumes: Digital Copy Only Enclosures (indicate number of each): CD: DVD: Flash drive: Paper Maps: Other: Received: Comments:

Signed: Date:

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2017.10.03 13:23:56 -02'30'

012P/0117

Assessment Report on Prospecting and Rock Sampling

Licences 023797M NTS 12P/08 (1st year) and 024063M NTS 12P/01(1st year),

Great Northern Zinc, Newfoundland.

Submitted by Wayde Guinchard

For

Wayde Guinchard

July 16, 2016

Table of Contents

Introduction

Location and Access Page 4

Current work Page 4

Results Page 4

Recommendations Page 4

Figure 1. Property Location Map Page 5

Figure 2. Licence Location Map Page 6

Samples Locations Page 6

Figure 3. Sample Location Map 1 Page 7

Figure 4. Sample Location Map 2 Page 8

Personnel and expenditures‐Appendix –A Page 9

Assay Certificates –Appendix‐ B Page 10

INTRODUCTION

The Great Northern Zinc (GNZ) project The Great Northern Zinc (GNZ) project is located on the northern end of the Great Northern Peninsula in northwestern Newfoundland, and covers an area prospective for carbonate-hosted, Mississippi Valley Type (MVT) zinc deposits, akin to the former Newfoundland Zinc Mine located at Daniels Harbour, 140 kilometres southwest of the property, which between 1975 and 1990 after producing 6,531,730 tonnes averaging 8.0% zinc (Lane, 1990). The highlight of the GNZ property is the Round Pond prospect which hosts an outcropping zone of low grade zinc mineralization where past explores compiled historic, uncategorized, non-NI-43-101 compliant resource estimates at varying zinc grade thresholds. In 1971, Cominco estimated a resource for the prospect of 136,000 tonnes at 2.5% zinc (Rhodes and Young, 1971a, geofile NFLD/0585). Also, less than 800 metres southwest of the Round Pond prospect, Phillips Management, in 1975, outlined an additional outcropping, uncategorized, historic, unnamed resource of 89,000 tonnes at 1.5% zinc, referred to here as the Phillips prospect (Gillan, et al.,1975, geofile NFLD/0930). In 1982 Narex Ore Search Consultants did additional drilling at the Round Pond Zone and increased the resource to 400,000tons. That together with the conservative estimate of 150,000 tons at the Phillips Zone brings the total to 550,000 tons and both zones remain open in several directions. While both resource estimates are not compliant with National Instrument 43-101 standards and cannot be relied upon, Buchans Minerals believes the estimates are an indication of the project’s potential for discovery of shallowly buried, higher grade zinc sulphide mineralization analogous to that mined at the former Newfoundland Zinc Mine; as well as lower grade, potentially bulk mineable (open pit), zinc mineralization. Both historic resources are poorly constrained by drilling and potential exits to expand the resources as both zones remain open in several directions. Mississippi Valley Type (MVT) deposits like those mined at the Newfoundland Zinc Mine are considered particularly attractive for mining due to their benign environmental impact (not acid generating) and premium quality concentrates (Newfoundland Zinc ores hosted very little pyrite and galena, yielding simple, high quality zinc concentrates with very low concentrations of deleterious metals commonly associated with other types of zinc sulphide deposits). The GNZ project is also considered attractive as it is situated close to infrastructure including roads, power, towns and tide water, and is located within a historic mining district within a province known to be receptive to mining development. Explorers noted mineralization occurs beneath a shallow dipping, dolomite-limestone contact within the Boat Harbour Formation. This internal contact remains untested down dip by previous diamond drilling which primarily targeted areas of anomalous geochemistry (zinc in soils). The contact is recognized by BMC as having excellent potential to host high grade zinc mineralization down dip, where higher grade orebodies associated with the outcropping low grade mineralization may be preserved. In addition, potential remains to define additional low grade mineralization within an 800 metre long corridor extending between the Round Pond and Phillips prospects, as the area remains

poorly tested by previous drilling and may host sufficient room to contain a much larger resource, should the two zones connect. While such a zone would be expected to be low grade (i.e. less than 2.5% Zn), a large deposit may be amenable to bulk tonnage open pit mining. Location and Accessibility The property is located near the northern end of the Great Northern Peninsula within the province of Newfoundland and Labrador, Canada. A paved highway Route 432 extends south from Paved Highway Route 430 coming within a few kilometres of the licences. Trails extending south and east of these paved routes provide access to all licences. The nearest tide water is located within 10 kilometres east of the properties at Hare Bay, and the nearest major centre is the coastal community of St. Anthony, located approximately 40 km to the east, though several other smaller communities are found along the road to St. Anthony, including the coastal community of Northern Arm. The Round Pond area is also located 20 km northwest of the village of Main Brook. As the regional hub for the north end of the Great Northern Peninsula, St. Anthony hosts a range of services including hotels, restaurants, hardware stores, police detachment, and hospital. The community has a population of approximately 2,500 and is serviced by a regional airport located at the junction of Route 432 and Route 4330, providing daily scheduled passenger service to St. John’s. The Great Northern Peninsula is also serviced seasonally by ferry service between Blanc-Sablon (Quebec) and St. Barbe, located 55 km southwest of the property. Contract exploration support services including assayers, diamond drillers, line cutters and surveyors are available in Springdale. CURRENT WORK This year’s work involved general prospecting, grab sampling and hand drill sampling. Peter Rogers provided prospecting assistance and we were accompanied by Government of NL geologist James Conliffe and Honours Geology Student Robert King. We used trucks, walked and used a government contracted helicopter to aid in the work. I drove from St. John’s and Peter Rogers drove in from Labrador City. James and Robert drove from Daniels Harbour and we met them to coordinate our work plans. The helicopter was supposed to arrive from Pasadena the next day, however, because of weather and scheduling conflicts with Forestry it was delayed for 3 days. We spent those days travelling by truck and foot to areas that were accessible. Once the helicopter arrived we used it for a further 2 days of work. I drove to St. John’s and Peter drove back to Labrador city. Back in St. John’s Myrtle Guinchard and I cut the core and prepared the samples for assay. RESULTS Assay results Appendix B RECOMMENDATIONS Seek a company to option the property that has the ability to build on work completed by Buchans Minerals and Royal Roads. Recommendations for future work include: 1. Available past drilling data has been compiled into spreadsheets and MapInfo GIS files (included on DVD within this report). Future efforts should be made to bring this data into a three dimensional database using Discover software, as this work may identify favourable vectors along which future exploratory drilling might be undertaken; 2. Drilling of approximately 450 metres to explore for higher grade mineralization down dip of the Round Pond deposit as proposed by Mr. O’Connell;

3. The corridor between the Round Pond and Phillips prospects should be assessed for its potential to host a large outcropping deposit joining both prospects. While such a zone would be expected to host grades averaging less than 2.5% Zn, a large deposit may still be amenable to bulk tonnage open pit mining. This work might include additional drilling within the corridor. Figure 1. Property Location Map

Figure 2. Licence Location Map

Geochem. Samples – Round Pond 2016

Samples Grid Reading Type Notes RP-02-16A 21 U 552200 E 5680200 N CORE RP-02-16B 21 U 552200 E 5680200 N CORE RP-02-16C 21 U 552200 E 5680200 N CORE RP-02-16D 21 U 552200 E 5680200 N CORE RP-02-16E 21 U 552200 E 5680200 N CORE RP-02-16F 21 U 552200 E 5680200 N CORE

RP-02-16G 21 U 552200 E 5680200 N

CORE

RPP-01-16 21 U 551735 E 5679274 N

Bedrock

RPP-02-16 21 U 551730 E 5679267 N

Bedrock RPG-01-16 21 U 552190 E 5680210 N Bedrock RPG-02-16 21 U 552185 E 5680220 N Bedrock RPG-03-16 21 U 552192 E 5680208 N Bedrock

SA-01-16 21U 0557238 E 5665506 N Bedrock

Figure 3. Sample Location Map 1

Figure 4. Sample Location Map 2

Wayde Guinchard

Appendix A 023797M 024063M

Wayde Guinchard 10days 1000 700 300

Peter Rogers 7 days 700 400 300

Myrtle Guinchard 2 days 200 100 100

Auto 8 days 480 300 180

ATV 3 days 120 120

Accommodations 400 300 100

Meals 390 270 120

Gas 432 300 132

Assays 758 710 48

Adminstration 672 462 210

Total 5152 3542 1610

Appendix B‐ Assays (also sent via Email)

Sample Field IDs in the report slighter different then the assay certs.

Field IDs Lab IDs RP‐02‐16C RP‐C01‐16

RP‐02‐16D RP‐D01‐16

RP‐02‐16E RP‐E01‐16

RP‐02‐16F RP‐F01‐16

RP‐02‐16G RP‐G01‐16

1 of 1 Au Fire Assay / ICP Geochemistry Certificate

Client: Wayde Guinchard

Geologist:

Project:

Sample: Rock Signed by:______________________

DskFile: 573-1612209 Results apply to samples as submitted.

Email: [email protected]

DateIn: June 30, 2016 P.O. Box 187 Concentrations in assay range may cause

DateOut: July 08, 2016 403 Little Bay Road Springdale, NL A0J 1T0 interferences in associated elements. ISO 17025

Phone: 709-673-3909 / Fax: 709-673-3408 * Accrediated Procedures

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Sample * Au Ag Al As Ba Be Bi Ca Cd Ce Co Cr Cu Fe Hg In K La Mg Mn Mo Na Ni P Pb S Sb Se Sn Sr Ti U V W Zn

Number ppb ppm % ppm ppm ppm ppm % ppm ppm ppm ppm ppm % ppm ppm % ppm % ppm ppm % ppm % ppm % ppm ppm ppm ppm % ppm ppm ppm ppm

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

BLANK - AU 5 --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

STD - OREAS 202 791 --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

BLANK --- <0.2 0.03 <5 <10 <0.5 <2 <0.01 <0.5 <10 <1 <1 <1 <0.01 1 <1 0.02 <10 <0.01 <5 <1 0.05 <1 <0.01 <5 <0.01 <5 <1 <20 <1 <0.01 <1 <1 <10 <2

STD LKSD-3 --- 2.7 1.99 25 685 1.9 5 0.69 0.4 90 27 86 35 3.92 287 <1 0.43 51 1.12 1450 <1 0.18 47 0.09 29 0.15 <5 15 <20 36 0.09 5 83 <10 152

RP-02-16A 9 <0.2 0.46 <5 13 <0.5 <2 >5.50 18.0 11 1 19 5 0.26 5 17 0.46 <10 4.71 159 3 0.22 11 0.01 96 2.94 <5 36 <20 88 <0.01 9 9 189 >2200

RP-02-16B <5 <0.2 0.49 20 16 <0.5 7 >5.50 17.0 10 <1 20 3 0.28 3 <1 0.51 <10 4.53 199 <1 0.29 8 0.01 1119 3.93 <5 <1 <20 78 <0.01 7 8 >440 >2200

RP-C01-16 8 <0.2 0.64 41 16 <0.5 3 >5.50 8.0 <10 3 16 3 0.31 3 18 0.66 <10 4.54 209 9 0.25 13 0.01 601 2.56 <5 40 <20 84 <0.01 5 11 158 >2200

RP-D01-16 9 <0.2 0.55 <5 19 <0.5 4 >5.50 4.0 13 <1 20 4 0.44 <1 20 0.52 <10 4.60 282 9 0.31 16 0.01 1267 1.86 15 52 <20 72 <0.01 4 9 102 >2200

RP-E01-16 8 <0.2 0.88 <5 27 <0.5 <2 >5.50 4.0 12 3 27 8 0.44 3 7 0.73 <10 4.57 257 <1 >0.50 22 0.01 1109 1.67 <5 <1 <20 58 <0.01 4 9 93 >2200

RP-F01-16 5 <0.2 0.41 116 13 <0.5 <2 >5.50 2.2 11 4 11 19 0.27 2 19 0.33 <10 4.60 267 8 0.33 22 <0.01 69 0.21 35 29 <20 52 <0.01 3 6 13 1263

RP-G01-16 5 <0.2 0.41 <5 11 <0.5 4 >5.50 5.5 <10 4 10 3 0.26 <1 <1 0.36 <10 4.77 270 3 0.30 13 <0.01 113 0.14 19 <1 <20 56 <0.01 3 6 13 >2200

RPP-01-16 7 <0.2 0.36 <5 <10 <0.5 5 >5.50 25.0 <10 4 19 3 0.23 3 19 0.28 <10 4.52 146 6 0.25 13 <0.01 116 10.94 116 15 <20 39 <0.01 3 4 >440 >2200

RPP-02-16 <5 <0.2 0.49 <5 13 <0.5 <2 >5.50 24.0 13 <1 27 3 0.35 3 11 0.47 <10 4.51 277 6 0.24 17 0.01 81 5.51 <5 133 <20 64 <0.01 3 9 >440 >2200

RPG-01-16 <5 0.2 0.30 <5 <10 <0.5 <2 >5.50 25.0 <10 2 47 3 0.28 2 20 0.21 <10 4.37 136 3 0.28 17 0.01 1421 7.42 52 12 <20 48 <0.01 3 4 >440 >2200

RPG-01-16 DUP - P 5 <0.2 0.29 182 <10 <0.5 <2 >5.50 27.0 <10 2 53 4 0.28 3 15 0.20 <10 4.44 139 6 0.28 18 0.02 1423 7.61 70 <1 <20 49 <0.01 2 5 >440 >2200

RPG-02-16 5 <0.2 0.33 28 <10 <0.5 <2 >5.50 29.0 <10 4 19 3 0.27 3 19 0.23 <10 4.19 131 5 0.28 6 0.03 >2200 14.26 <5 36 <20 48 <0.01 4 5 >440 >2200

RPG-03-16 <5 <0.2 0.31 50 <10 <0.5 9 >5.50 26.0 10 4 29 8 0.41 <1 15 0.21 <10 4.17 140 3 0.28 10 0.02 >2200 15.13 <5 18 <20 32 <0.01 3 4 >440 >2200

SA-01-16 10 >6.0 0.35 <5 22 <0.5 <2 >5.50 30.0 13 <1 48 32 0.26 5 14 0.35 <10 3.94 141 <1 0.24 9 0.01 36 8.94 100 51 <20 73 <0.01 3 3 >440 >2200

HPQ-01-16 <5 <0.2 0.38 106 12 <0.5 3 >5.50 2.8 <10 2 53 3 0.24 3 14 0.37 <10 4.50 175 4 0.31 4 <0.01 <5 0.04 36 86 <20 53 <0.01 2 8 15 725

WS-01-16 8 0.4 0.37 95 <10 <0.5 <2 >5.50 30.0 10 2 15 6 1.53 <1 18 0.34 <10 4.46 125 5 0.29 13 0.01 103 6.94 <5 <1 <20 32 <0.01 4 4 >440 >2200

1 of 1 Assay Certificate


Geologist:

Project:

Sample: Rock Signed by:______________________



DateIn: June 30, 2016 P.O. Box 187

DateOut: July 08, 2016 403 Little Bay Road Springdale, NL A0J 1T0 ISO 17025Phone: 709-673-3909 / Fax: 709-673-3408 * Accrediated Procedures

------------------------------------------------------------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------

SAMPLE * Pb * Zn * Ag

NUMBER % % g/t

-----------------------------------------------------------------=-----------------------B13------------------=-----------------------B13-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

BLANK 0.01 0.01 0.1

STD FCM-6 1.52 9.60 163.2

STD ME-1201 0.47 5.00 36.9

STD MP-1b 2.07 16.8 48.4

RP-02-16A --- 5.12 ---

RP-02-16B --- 6.61 ---

RP-C01-16 --- 4.46 ---

RP-D01-16 --- 2.87 ---

RP-E01-16 --- 2.63 ---

RP-G01-16 --- 0.28 ---

RPP-01-16 --- 18.2 ---

RPP-02-16 --- 10.1 ---

RPG-01-16 --- 14.0 ---

RPG-01-16 DUP - P --- 14.0 ---

RPG-02-16 0.56 25.4 ---

RPG-03-16 0.49 26.4 ---

SA-01-16 --- 16.7 6.2

WS-01-16 --- 16.9 ---

1 of 1 Assay Certificate


Geologist:

Project:

Sample: Pulps Signed by:______________________



DateIn: October 14, 2016 P.O. Box 187

DateOut: October 20, 2016 403 Little Bay Road Springdale, NL A0J 1T0 ISO 17025Phone: 709-673-3909 / Fax: 709-673-3408 * Accrediated Procedures

------------------------------------------------------------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13-----------------------B13

SAMPLE * Pb * Zn

NUMBER % %

-----------------------------------------------------------------=-----------------------B13------------------=-----------------------B13--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

BLANK 0.01 <0.01

STD FCM - 6 1.50 9.50

STD ME -1201 0.47 4.82

STD MP -1b 2.11 16.6

STD CCU -1e 0.71 2.95

RP-02-16A --- 5.12

RP-02-16B --- 6.61

RP-C01-16 --- 4.46

RP-DO1-16 --- 2.87

RP-E01-16 --- 2.83

RP-G01-16 --- 0.48

RPP-01-16 --- 18.20

RPP-02-16 --- 10.1

RPG-01-16 --- 14.0

RPG-01-16 DUP - P --- 14.0

RPG-02-16 0.57 25.4

RPG-03-16 0.48 26.4

SA-01-16 --- 16.7

WS-01-16 --- 16.7

Newfoundland and Labrador...Assessment Report on Prospecting and Rock Sampling Licences 023797M NTS...

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