THORN GOLD-COPPER-SILVER PROJECT

DRILL DATA IS AVAILABLE FOR DOWNLOAD HERE

Geology at Trapper is predominantly volcanic and volcaniclastic rocks of the Upper Triassic Stuhini group, which are intruded by Cretaceous quartz diorites, interpreted as part of the Thorn Magmatic Suite. The quartz diorite is associated with high-grade gold mineralization at Trapper, including a broad low-grade gold zoning that extends into the Stuhini volcanic rocks. Gold mineralization is observed within structurally controlled quartz-carbonate veins and stockworks that host sulphides (pyrite, galena, sphalerite, minor chalcopyrite), and rare occurrences of visible gold. At surface, soil and rock geochemistry outline a 4 kilometer north-northwest gold trend, including a 2022 grab sample assaying 152 g/t Au, 187 g/t Ag, 6.11% Pb, 3.09% Zn and 0.21% Cu that has not yet been drill tested.

To date, 98 holes have been drilled at the Trapper target, including over 30 holes where visible gold has been observed. High-grade intercepts include 276 g/t Au over 0.46m and 160 g/t Au over 0.50m in THN21-186, part of a broader low-grade interval of 1.6 g/t Au over 187.51m. In 2022, drill hole THN22-205 intersected 249 g/t Au over 0.25m, within a 64m interval of 5.74 g/t Au. The 2021 and 2022 drill programs have outlined a consistent gold mineralized zone over 500m strike length, which remains open at depth and along strike. Drilling in 2023 will continue to test the extents of mineralization, in addition to targeting new structures and geochemical and geophysical anomalies.

Metla is a large 7 km x 6km copper-gold porphyry anomaly within the Thorn Project, 20 km southeast of Camp Creek. The target area claims were acquired in 2020. Major rock units at Metla include sedimentary and mafic- to ultramafic-intrusive rocks of the Stikine assemblage, volcanic and volcaniclastic rocks of the Stuhini Group, Late Cretaceous to Paleocene felsic intrusive rocks, and hydrothermal breccia dykes that crosscut all of the previous units. Recent age dating indicates that the Au-Cu bearing granodiorite is Triassic in age, 220 +/- 3.1 Ma. The mineralization is distinct from other part of the Thorn Property with massive pyrite, chalcopyrite and sphalerite hosted in hydrothermal breccias and granodiorites, locally associated with bornite, chalcocite, and rare visible gold.

Glacier retreat within the last few years has exposed several new mineralized outcrops. Prospecting in 2022 identified new copper and gold-rich occurrences, one of which had assays up to 32.8% Cu and 59.8 g/t Au and warranted drill testing with drill holes THN22-232 to THN22-236. Drill holes THN22-228 to THN22-230 tested a new copper exposure with grab samples assaying 27.2% Cu, 23.6% Cu and 19.25% Cu. Drilling intersected variable amounts of potassium feldspar, epidote and hematite alteration with local disseminated pyrite and trace chalcopyrite and bornite. Later in the season a new Au-Ag-Cu showing was found at surface with one sample assaying 34.9 g/t Au, 1110 g/t Ag and 16.65% Cu, with surrounding samples assaying 33.2 g/t Au and 25.1 g/t Au. Surface sampling and mapping will continue to evaluate the Metla Target in 2023.

The Outlaw Zone is composed of sediment-hosted (siltstone-greywacke-argillite-carbonates) Au-Ag related to pyrite and pyrrhotite veins, and stratiform disseminated to semi-massive pyrite and pyrrhotite. Mineralized horizons may be related to the Jurassic-aged felsic dykes, suggesting the mineralization is intrusion-related. The gold-in-soil anomaly is over 4 kilometers long. Drill testing has shown that this gold horizon occurs at depth through the central part of the Outlaw Target, over a 600m strike length. Hole THN14-128, drilled in the Central Outlaw area, returned 59.65m of 1.15 g/t Au. Surface rocks samples have returned up to 22.9 g/t Au from East Outlaw and 68.8 g/t Au from West Outlaw.

The West target is primarily a copper target, located 5km west-southwest of the Camp Creek Target. Geology at the West Target is comprised of Triassic volcanic rocks of the Stuhini Group, and Jurassic argillite and conglomerate of the Laberge Group. These Mesozoic volcanic and sedimentary rocks are cut by an Eocene granodiorite (54.2 +/- 0.8Ma) and alkali feldspar granite batholith of the Sloko-Hyder Plutonic suite, some of which has been locally metamorphosed and migmatites are observed. Mineralization is vein-hosted and disseminated, with porphyry-style quartz-pyrite-chalcopyrite veins in the Eocene intrusive and Stuhini volcanic rocks. A float sample collected in 2020 assayed 4.27% Cu.

The East Target is located 25km east of Metla and 17km north-northeast of the Golden Bear Mine. The geology is dominated by Middle to Late Triassic quartz diorite and granodiorite intrusive rocks, with windows of Stuhini Group volcanic rocks. There are two main copper showings on either side of the Samotua River.

The Bing showing is on the east side of the river and includes widespread copper and molybdenum mineralization, as disseminations and within veining stockworks. Historic drilling did not target the area hosting the most anomalous samples to the north, where a cluster of 10 samples have grades greater than 2% copper over a 500m x 500m area. Surface rock samples collected in 2022 returned up to 5.79% Cu. Over 200 soil samples were collected at Bing in 2022, and results were promising with 16 samples greater than 1000 ppm Cu and highly anomalous values of 9,610 ppm Cu and 7,290ppm Cu collected at the south end of the zone.

The Icy showing is to the west and includes a 2km x 800m gossan with associated copper soil anomaly. Copper values in rocks reach up to 3.62% Cu. Rio Tinto Only minimal work has been conducted on this target since RioTinto.

The Central Target is located 7km southwest of Metla. Similarly, the Central Target geology is dominated by plutonic rocks, with Middle to Late Triassic quartz-diorite intruded by granitic intrusive rocks of the Sloko-Hyder Plutonic Suite. At surface there are stockwork quartz-molybdenite-pyrite veins, as well as several historic drillholes. East-west trending sheeted veins, up to 1.5m thick, contain molybdenite, which is locally massive and contain grades up to 1.45% Mo.

The South Target is located approximately 35 km south of the Trapper Target. Geology includes greenstones of the Whitewater Metamorphic Complex, coarse clastic sedimentary rocks of the Stikine Assemblage and Late Triassic quartz diorite intrusive rocks. Known mineralization includes vein-hosted chalcopyrite and disseminated pyrite and chalcopyrite, although only reconnaissance geochemistry surveys have been completed in the target area to date. The target includes one of the highest-grade gold samples in silts from the BC Regional Geochemical Survey, with 990.7 ppb Au and elevated Cu-Ag-As. The area around this sample has not yet been tested and geochemical surveys, prospecting and mapping are planned.

The GoldBee Target is the southern extension of the Golden Bear Mine trend. Gold mineralization is structurally controlled and hosted within Upper Triassic Stuhini Group volcanic and sedimentary rocks. Geochemical surveys and prospecting are planned.