Building Value in a Proven District
Located west of Kenora, Ontario, the High Lake and West Hawk Lake Projects present a compelling growth opportunity, supported by high-grade mineralization, favorable infrastructure, and significant expansion potential. Together, they form the foundation of a scalable, centralized gold development strategy.
High-Grade Gold Mineralization
High Lake hosts a NI 43-101 resource with multiple high-grade intercepts confirming a robust gold system. West Hawk Lake’s historic underground work and drilling highlight further potential within a proven high-grade district.
Metallurgical Advantage
Preliminary results from High Lake show excellent gold recoveries, supporting efficient processing and strong project economics.
Strategic Infrastructure Synergy
The projects’ proximity enables shared infrastructure and centralized processing, creating a cost-effective, scalable development path.
High Lake
Resource & Highlights
45.8 Koz @ 9.38 g/t Au
Indicated (Purdex Zone)
96.2 Koz @ 10.43 g/t Au
Inferred (Purdex Zone)
2023 · Technical Report Dec 2025
Resource estimate
History
Historic work includes the Purdex Zone resource (Consolidated Jalna, 1989) and the Electrum zones (Calnor Resources, 1987). Between 2022 and 2024, the prior owner completed geophysics and two drill campaigns totalling about 20,400m across 79 holes, which form the basis for the current resource estimate.
Geology
Part of the Lake of the Woods greenstone belt in northwestern Ontario. The gold occurs in quartz veins and altered rock along the boundary between two rock types, in what are known as the Purdex and Electrum zones.
Exploration Upside
West Hawk Lake
Resource & Highlights
204.3 Koz @ 13.97 g/t Au
Historic estimate (1983)
72.8 Koz @ 31.20 g/t Au
Highest-grade zone (Sundog)
*The 1983 estimate is a historic estimate. It is not compliant with current NI 43-101 standards and has not been verified as a current mineral resource by company geologists.
History
Gold was first found in the area in 1910, with the Sunbeam discovery following in 1912. The historic Sunbeam Mine produced roughly 871 ounces of gold; its shaft reaches 135m over four levels, and the nearby Waverly shaft reaches 152m.
Geology
Part of the same Lake of the Woods Greenstone Belt as High Lake. Gold occurs in two styles: a banded breccia pipe at Sunbeam, and shear-hosted quartz veins in the Waverly-Letain area.
Exploration Upside
Mineral Resources Summary
*Purdex Zone Mineral Resource at 2.6 g/t cut-off. The Mineral Resource Estimate was independently prepared by P&E Mining Consultants, effective date April 14, 2023, in accordance with National Instrument 43-101.
**West Hawk Lake historical mineral resource estimate from 1983 not compliant with NI 43-101. The Issuer is not treating the historical resource estimate as a current Mineral Resource.
High Lake Deposit - Purdex Zone
Most of the estimated Mineral Resource tonnage related to the High Lake Deposit is contained in three stacked zones within a 75-meter wide corridor starting at surface and covering an area of 420 meters vertical by 220 meters long. The true thickness of the High Lake zones varies from 1.2 to 9.0 meters.
Archean Gold Deposits
Archean gold deposits of similar style show long plunge lengths relative to their strike length indicating good depth potential. Additional resources at depth and along strike could be developed with further exploration.
High Lake Property IP Geophysics and Target Areas
Purdex East
Intensification of chargeability anomaly extending from Purdex
Conglomerate
Continuation of Purdex trend into favourable host rocks with elevated chargeability
A-D Extension
Eastward extension of the trend containing four known gold zones
Porphyry
Extensive Cu-Au mineralized zone identified in historic surface sampling
Gap
Chargeability trend between two historic zones that has not been previously drilled
West Hawk Lake - Historical Development Summary
Sunbeam Inclined Shaft
Sunbeam inclined shaft to 135 m with 4 levels established with a total 275 m of drifting
Sunbeam Breccia Pipe
Sunbeam breccia pipe has a shallow plunge to the northwest with development down to -130 m, open at depth. High grade mineralization is contained within an elliptical pipe 45 x 25m in diameter
Waverly Vertical Shaft
Waverly vertical shaft to 152 m with 3 levels developed
The Sunbeam Mine
The Sunbeam Mine (also know as the Sunbeam Kirkland, Kirkland, Goldbeam, Homestake). It produced 24.70 kg of gold, worth more than CAN$4.44 million using a gold price of CAN$ 5,600 an ounce.
