New Pass Property

New Pass Gold Property

Eastern Churchill County, Nevada

  • Property comprised of 107 mining claims (2,140 acres)
  • 50/50 JV with McEwen Mining Inc.
  • 75% of the resource is oxidized
  • AuEq Inferred resource: 341,750 ounces (9.7 Million grams)
  • Ag Inferred resource: 2.55 Million ounces (72.3 Million grams)
  •   (NI 43-101 compliant)

Geology

  • Gold/Silver mineralization (red) deposited in limestone (blues) near contact with overlying volcanic rocks (tan)
  • Northwest trending high-angle feeder faults have higher Au/Ag values
  • Current resource trends northwest under untested pediment cover

Drilling Results

  • NP-0520 – 23 m at 1.95 g/t Au (0.069 opt) 6.9 g/t Ag (0.24 opt)
  • NP-0722 – 56.4 m at 0.93 g/t Au (0.032 opt), 8.4 g/t Ag (0.29 opt)
  • NP-0813 – 1.5 m at 30.58 g/t Au (1.05 opt), 5.5 g/t Ag (0.19 opt)
  • NP-0817 – 3.6 m at 8.60 g/t Au (0.29 opt), 4.1 g/t Ag (0.14 opt)

New Pass Drilling

  • Total Meters Drilled = 30,553 m
  • Ave Depth Drilled = 114 m
  • Ave Grade Au = 0.51 g/t Au (0.018 opt)
  • Ave Grade AuEq = 0.62 g/t AuEq (0.022 opt)
  • Ave Grade Ag = 6.92 g/t Ag (0.202 opt)

Highlights and Summary

  • Plan of operation for +40 drill hole initiated
  • Bulk minable, open pit, heap leachable Au/Ag
  • +300,000 ounce AuEq resource
  • Resource open along strike and down dip
  • Resource is shallow and 75% oxidized
  • Located in elephant country – Cove McCoy (60 Mt @ 1.9 gpt Au(0.07 opt), 86 gpt Ag (2.95 opt) is 80 km north-northeast)