Summary

Mine Type	Open Pit
Study Completed	Preliminary Economic Assessment
Commodities	Gold Silver
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	The Talapoosa project is a low-sulfidation gold-silver deposit. The PEA Base Case considers a low capital cost open pit mine and heap leach facility, with an annual processing rate of 3.8 million tons of PEA in-pit resource material placed on the leach pad. Appaloosa lies within the Talapoosa land package located 1 kilometer northeast of the Talapoosa trend. In September 2022, Gunpoint signed an agreement with Newcrest to explore Appaloosa. Newcrest had the right to acquire, in multiple stages, up to a 75% interest in Appaloosa. After completion of the Option Phase, Newcrest, on March 27, 2024, elected not to proceed with the Earn-In agreement on Appaloosa. During 2023, Surface exploration and initial drilling in the two areas identified a large potential hydrothermal cell related to and peripheral to the Talapoosa deposit. Reconnaissance work undertaken on Talapoosa indicated potential extensions of the existing deposit in multiple directions.

Deposit type

• Epithermal
• Vein / narrow vein

Summary:

The mineralization was divided into the following domains, separated by north-northwest fault, for the purpose of resource modelling.

Bear Creek Hanging-Wall Vein System/Domain, bounded by Ripper Fault to south and Cabin Fault to north. The Hanging-Wall vein is comprised predominantly of massive white sulphide poor silica with typical low- sulfidation epithermal textures, including recrystallization, coliform and crustiform banding, adularia bands, amethyst, etc.

Bear Creek Footwall Vein System/Domain, bounded by Cabin Fault to south and Talapoosa (South) Fault to the north. The Footwall vein is more sulphide rich, associated with a number of gangue phases including, red hematitic silica, chlorite and minor white to clear silica.

Main Zone Vein System/Domain bounded by Talapoosa (South) Fault to the south and Opal/Dyke Fault to the north.

The mineralization at both Dyke Adit and East Hill shows similarities in appearance and texture to that of the Hanging-Wall Zone at Bear Creek.

The modelling of veins and their bounding faults indicates that the general trend of all mineralization is around 115°, with two prominent dip angles:

- Steeply-dipping veins at approximately 70° south, for the Hanging-Wall and Footwall Zones at Bear Creek and for the eastern-most portion of the Main Zone.

- Shallowly-dipping veins, at approximately 20 to 40° south for the Dyke Adit, northwest part of the Main Zone (north) and the East Hill Vein. At least in the Main Zone, the flattening of vein dip could be the result of dilatational zones developed between the Talapoosa and Dyke Faults. In the case of the Dyke Adit and East Hill veins the attitude of the veining appears to parallel that of the contact between the hornblende andesite porphyry and the adjacent unit.

Mining Methods

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Comminution

Crushers and Mills

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Processing

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Commodity Production

Operational metrics

Personnel

Job Title	Name	Phone	Ref. Date
.......................	.......................	...........	Mar 28, 2024