Five inter-related styles of mineralization are observed on the Project.

1. Fault-fill breccia veins subparallel to foliation (S1), hosted in carbonaceous mudstone (BC Vein style).

2. Vertical NE-trending extensional (AP) veins dominantly hosted in sandstone units in S3 cleavages (Cow Mountain, Island Mountain and Mosquito Creek vein mineralization).

3. Fractured moderately dipping ENE-trending shear veins, hosted in sandstone units (Cow Mountain, Island Mountain and Mosquito Creek Vein mineralization).

4. Gold-bearing sulphide replacements hosted in fold hinges of calcareous sandstone units (Island Mountain and Mosquito Creek Replacement Style).

5. Gold-bearing sulphide replacement mineralization hosted in fault-bounded calcareous siltstone units (Bonanza Ledge style).

Vein mineralogy is largely simple, composed predominantly of quartz and lesser iron carbonate gangue. Pyrite is the dominant sulphide mineral with vein content ranging from trace amounts to tens of percent. Pyrite content appears to have a direct association with gold content in the veins. Although galena and arsenopyrite can also occur in individual veins in amounts up to several percent, these minerals generally occur in trace amounts as does sphalerite, chalcopyrite, argentite and scheelite. Generally increasing amounts of galena and argentite are related to elevated silver values. At least two sulphide events are observed in veins: one early event inter-grown with quartz and a secondary event infilling pre-existing void spaces or vein margins. The bismuth-lead sulphosalt cosalite also occurs in isolated veins and appears to be associated with high-grade gold independent of pyrite content. Cosalite is only observed as intergrowths with quartz and its timing is considered early.

Replacement mineralization in calcareous sandstones varies from fine to coarsegrained pyrite with lesser arsenopyrite. Bonanza Ledge replacement mineralization, hosted in calcareous siltstone, consists entirely of fine-grained pyrite ore. Sulphide content in replacement ore types is generally high, ranging from 10% (replacing thin calcareous bands) to massive (replacing entire beds). The timing relationship for observed mineralization types is considered to be contemporaneous, with vertical veins acting as feeders for the fault fill veins, replacement horizons and earlier shear veins.

Large veins tend to exhibit a strong silica alteration halo with pyrite contents that range from several percent to massive. Farther from the large veins, the pyrite content drops to trace amounts with intense silicification. Most of the smaller veins have strong silica with trace pyrite proximal to vein margins; they rarely show the massive pyrite deposition exhibited in larger veins. A widespread moderate silica envelope with patchy but intense silica closer to the veins is observed within the vein corridors. More distal from the vein corridors, the intensity of silica alteration becomes weak and sericite is the dominant alteration mineral with an iron carbonate halo outside of the sericite. Localized veins show argillic and chloritic alteration within the vertical AP veins.

Vein deposits on Cow Mountain and Island Mountain are composed predominantly of quartz and lesser iron carbonate gangue. Pyrite is the dominant sulphide mineral with vein content varying from trace amounts to tens of percent and appears to have a direct association with gold content in the veins. These veins range in width from millimetres to several metres, and where the density is high, they are considered a vein corridor and trend over 300 m within the sandstone unit. The veins are near-vertical and plunge to the northeast within the sandstone unit.

Axial planar (“AP”) veins are the primary source of vein hosted gold within the Mosquito Creek, Shaft, Valley and Cow deposits. AP veins are vertically dipping and strike from N030 to N050 Az. Vein corridors are defined as a high-density zone of mineralized AP veins.

Extensional veins are classified based on surface and underground mapping as veins with margins oblique to foliation. Extensional veins are locally observed as conjugate sets to have formed pre-F3 buckling in the early stages of D3 compression. The extensional veins sulphide mineralized when they are intersected by AP veins.

Fault-fill breccia veins such as that of the BC Vein are subparallel to foliation and hosted in carbonaceous mudstone. This vein is continuous along strike for 1.4 km and is bound on the hanging wall by carbonaceous mudstone and on the footwall by calcareous siltstone. The vein dips moderately at 65° to the northeast. Mineralization within the fault-filled breccia vein consists of fine disseminated pyrite in rehealed breccia matrix.

Replacement mineralization in calcareous sandstones varies from fine- to coarse-grained pyrite with lesser arsenopyrite. Bonanza Ledge replacement, hosted in calcareous siltstone, consists of fine-grained pyrite ore only. Sulphide content in replacement ore types is generally high, from 10% replacing thin calcareous bands to massive, largely replacing entire beds completely. The Bonanza Ledge replacement is fault bounded in the footwall of the BC Vein structure. The replacement deposits observed at Island Mountain and Mosquito Creek are largely controlled by the F2 fold hinges of the D2 deformation event and are hosted in calcareous siltstone and sandstone. The observed mineralization types are considered contemporaneous, with vertical veins acting as feeders for the fault fill veins, replacement horizons and earlier shear veins.

Extraction of the economic mineable inventory is proposed to be achieved through underground mining as it presented the best case from an economic, environmental and sustainable development perspective. The Project is to have production achieve average production of 4,000 tpd over the 11-year LOM. This Technical Report has focused on four underground zones: Shaft Zone, Valley Zone, Cow Zone and Mosquito Zone. The mining zones are accessed via a main portal and are interconnected by an internal ramp system.

The mineralization comprises 181 vein corridors open at depth and along strike. The main mining method selected is longhole longitudinal retreat with a combination of paste fill, cemented rockfill (“CRF”) and un-cemented rockfill (“URF”).

The selected mining method of longhole stoping, requires backfill to manage stability and achieve the planned extraction. Paste fill produced from the processed tailings and binding agents (e.g. cement), cemented rockfill, or rockfill are required in longitudinal stopes and closure areas where mining progresses towards previously mined areas. The closure areas will require placement of a higher strength plug or slab where the backfill will be undermined, with regular backfill in the rest of the stope. All excavations should be tight filled to minimize the space for potential failure and rock settlement that could result in surface subsidence. This requirement is especially critical in the shallow areas of the mine where stope failure is more likely to cause surface subsidence.

The sole mining method is longitudinal retreat long-hole stoping using a combination of CRF, URF and paste fill. This decision was driven by the average vein width, contained metal (value), and ground conditions; as well as a practical and economic influence of mineral sorter reject being available and preferentially suitable for backfill provision.

Production stopes will consist of a set of 76 mm blasthole rings configured to achieve the required powder factor. All blastholes will be loaded with emulsion with along with detonator, booster and stemming in each hole. A slot area consisting of a slot raise utilizing a contractor V30 and 102 mm raise holes drilled. Blastholes will be drilled using a longhole drill from the top sill down to the undercut drift.

The haul truck and LHD fleet will handle mineralized and waste rock material. Development headings on levels will be mucked with the 10-t LHDs. This material will be taken to level re-mucks where they will be transferred to the 50 t haulage trucks via the 14 t LHD fleet. Main decline or ramp headings will be mucked with the 14-t LHD fleet directly as they can accommodate the larger equipment. Waste material will be used as backfill material wherever possible, or stored underground for later use.

Stopes will be mucked using the 10-t LHD fleet. Similarly, to development headings, the excavated material will be transferred to a level remuck whereupon the material will be transferred to 50 t trucks using the 14-t LHD fleet. Mineralized material will be taken to the underground crusher. This crushed material will be brought to mineralized material sorting facilities on surface using a vertical conveyor.

If required, the mineralized material sorting will produce waste material that will be transported back underground, using a waste pass. This crushed waste material will be used in the uncemented and cemented waste rock backfill stream.

All LHDs and trucks will include automation options. LHDs will include tele-operated capability such that mucking and re-handling operations can continue between shifts. Trucks will include autonomous driving mode for between shifts. Operating in a three-truck convoy will enable teleoperated loading, autonomous hauling and autonomous dumping. This autonomous capability is expected to realize higher daily trucking productivities.

A total throughput of up to 4,000 tpd is planned for the Cariboo Gold Project. The mineralized material will be processed in two stages at two facilities, first at the Mine site and then shipped to QR Mill.

A new concentrator will be built at the Mine site, including crushing, mineral sorting, grinding, and flotation. The Mine site concentrator and underground facility will serve as a pre-concentrator to reduce operation and transportation costs on the overall activity. The primary crushing operation will be located underground, and the crushed product will be conveyed to the surface to feed a screen. The screen undersize will be discharged into a fine storage bin and the oversize will be sent to the coarse storage bin. The coarse material will feed a mineral sorting circuit. A fraction of the sorted concentrate will be combined with the fine storage bin material to feed a grinding and flotation circuit. The flotation concentrate and the remaining sorted concentrate will be ........