Overview

The Issuer's anticipated focus area within the SaskGold Project is located in the Kisseynew Domain, which is situated in-between the Rottenstone Domain and the La Ronge Domain, highlighting the Issuer's view towards a favourable setting for gold and base metal exploration as well as to the region's established history of mineral exploration. The SaskGold Target Area hosts important infrastructure, which factored into the Issuer's positive assessment of its long-term exploration worthiness, including a power line that crosses the project licenses to the west of Kenwood Lake.

SaskGold Project - SaskGold Target Area Map

The core disposition block consists of 14 mineral dispositions covering an area of approximately 78,076 ha (approximately 192,848 acres), such project ground presently having a good standing date into the second half of 2027.

Geology

Geologically, the SaskGold Target Area includes coverage of metasediments and metavolcanics that form part of the Reef Lake Complex. In area around Reef Lake, this mixed succession of sediments and volcanics have been intruded by a series of diabase dykes and by a series of bodies which range in composition from diorite to granodiorite. Historic gold and nickel mineralization has been noted within the general Reef Lake area, including at historic exploration areas now covered by the SaskGold Project (see, as example, SMDI #0964b).

SaskGold Project - SaskGold Target Area Geology Highlight Map (source: Saskatchewan GeoATLAS)

Of additional potential priority, a diorite-quartz diorite-(granodiorite) structure of Rottenstone Domain-affiliation is materially covered by the SaskGold Project. The absence of historic industry assessment as to the potential gold prospectivity of diorite-quartz diorite intrusions in Saskatchewan has recently evolved subsequent to the Ramp Metals Inc. discovery intercept of 73.55 g/t Au over 7.5m found in a coarse grained quartz diorite, (see Ramp Metals Inc. news release, Ramp Metals Discovers New Mineralized Target Northwest of Ranger Gold Discovery, dated December 2, 2024).

In the Issuer's view, the SaskGold Target Area may represent a high-priority gold exploration setting, including as may relate to diorite-quartz diorite intrusions.

Overview

The SaskGold Project also consists of The Leland Lake Target Area, an independently situated mining disposition located with regional proximity to the producing Seabee gold mine and which rests contiguous to disposition area held by SGO Mining Inc. (operator of the Seabee mine, which itself is located approximately 20km to the northeast of the Issuer's project ground). The disposition covers approximately 5,756 ha and has good standing into the second half of 2027.

SaskGold Project - Leland Lake Target Area Map

Historic Exploration

The Leland Lake Target Area covers the Leland Lake body, a quartz diorite/diorite structure with past historic exploration by Cogema Canada Limited that identified the North Axe Lake gold showing, having sample gold anomalism reaching 480 ppb Au.

The North Axe Lake gold showing is located approximately 20.4 km southwest of the Seabee gold mine. The showing area, as mapped by G. Delaney, is underlain by the Leland Lake diorite - a medium- to coarse-grained, pink to grey-pink, massive, leucocratic quartz diorite. The showing consists of auriferous oxidized grey quartz veins and lenses associated with aplite dykes that are hosted within east-southeast trending shear zones that cut the Leland Lake quartz diorite (see SMDI #2389).

Geology

Importantly, in the examination of the Issuer, the Leland Lake quartz diorite - though having favourable gold anomalism - has received no material investigation of its quartz diorite gold hosting potential. The lack of consideration of the quartz diorite reflects, in the Issuer's view, the absence of historic industry understanding around the potential gold prospectivity of quartz diorite intrusions in Saskatchewan (which has evolved subsequent to the Ramp Metals Inc. 2024 discovery intercept of 73.55 g/t Au over 7.5m found in a coarse grained quartz diorite, see also Ramp Metals Inc. news release, Ramp Metals Discovers New Mineralized Target Northwest of Ranger Gold Discovery, dated December 2, 2024). A historic traverse of the Leland-Axe Lakes area in 1988 by Cogema Canada Limited took only 3 soil samples across 160 km traversed (see Assessment Report 73P09-0013), highlighting an underexplored opportunity for the Issuer over a near-mine quartz-diorite intrusion.

SaskGold Project - Leland Lake Target Area Geology Highlight Map (source: Saskatchewan GeoATLAS)

Recent exploration results within quartz diorite structures in Saskatchewan (see the above referenced Ramp Metals Inc. news releases) suggest to the Issuer that the Leland Lake quartz diorite body - using today's evolving knowledge, awareness and technologies - may represent a high priority target given:

1. Its mapped geology
2. The presence of gold anomalism
3. A lack of detailed historic examination of the quartz diorite itself in favour of traditional vein-type models
4. Regional proximity to the producing Seabee gold mine.