Three drilling phases were completed in 2022, totaling 13,822 m across 28 drill holes. Highlighted results include (see Figure 2 for hole locations).

• EM-22-005: 4.0 g/t Au over 7.5 m, including 6.4 g/t Au over 3.0 m

• EM-22-006W1: multiple intercepts including 6.5 g/t Au over 1.2 m, 2.0 g/t Au over 3.0 m and 2.3 g/t Au over 3.0 m.

• EM-22-006W4: 4.0 g/t Au over 0.7 m within a broader 1.1 g/t Au over 14.2 m.

• EM-22-008W: 6.2 g/t Au over 2.0 m and 4.2 g/t Au over 3.9 m.

• EM-22-009: 11.4 g/t Au over 3 m, including 24.4 g/t Au over 1 m

• EM-22-13: 2.3 g/t Au over 10.4 m, including 5.0 g/t Au over 3.2 m

• EM-22-015: 10.3 g/t Au over 7.8 m, including 41.1 g/t Au over 1.0 m

• EM-22-015: 4.3 g/t Au over 3.9 m, including 6.6 g/t Au over 2.0 m

• EM-22-016: 3.1 g/t Au over 7.3 m, including 4.0 g/t Au over 3.6 m

• EM-22-017A: 2.9 g/t Au over 2.0 m and additional lower grade over broader near-surface intervals (1.0 g/t Au over 15.5 m from 93 m downhole)

The results continue to confirm the continuity of mineralization and the potential significance of multiple horizons and splays northwest of the former Eagle Mine.

The continue to support the Company's view that multiple sub-parallel gold horizons exist beyond what was historically mined at Eagle and have expanded target areas along a broader mineralized corridor over a stratigraphic thickness that now exceeds 100 metres in width (see Figure 3). There is an apparent concentration of >10 g/t gold starting near surface and extending down-plunge to the EM-22-015 intercepts along the North Mine Horizon in an area with limited drilling that remains open further down-plunge (see Figure 4).

Figure 2: Highlighted results from EM 22-015

Eagle Drill Core: EM-22-015 intercept at 230.8 m downhole in lapilli-tuff host. Sulfide patches in between lapilli are semi-massive to massive. NQ core, 47.6mm diameter. 

Figure 3: NW-looking cross section (85 m total width) highlighting new assay results (gold boxes) and previously reported/historical intercepts (white boxes) along well-defined sub-parallel horizons.

The EM-22-015 intercepts are located approximately 60 m down-plunge from historical hole E-19 (see Figure 4). Additional historical drill holes intersected >5g/t Au roughly 250 m further down-plunge, highlighting the grade and volume potential of this new zone that will be tested via follow-up drilling in 2023.

Figure 4: NE-looking long section (55 m total width) highlighting the location of the EM-22-015 intercept (10.3 g/t Au over 7.8 m) relative to pre-existing grade contouring in the North Mine Horizon. Note the open area extending down-plunge from hole E-19 (19.6 g/t Au over 7.9m).

Intercepts >2 g/t Au have now been obtained at Eagle at downhole depths ranging from 109 to 1,234 m, which is indicative of the significant depth continuity of the system.

Building on these findings, the Company has undertaken a comprehensive data review at Eagle, incorporating the 2022 drill results into its 3D geological model and refining priority targets for future drilling. By integrating its drilling results and observations with notable historical data and new geophysical insights, the Company has identified additional exploration opportunities that warrant further evaluation.