PROJECT LOCATION

Project Boundary

Map showing PFS drillholes and MPSA boundary

The Mankayan Project is under a Mineral Production Sharing Agreement, MPSA 057-96-CAR of Crescent Mining and Development Corporation (“Crescent”) covering 533.4 hectares located in barangays Guinaoang and Bulalacao, Mankayan, Benguet.

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Project Location

Located 340km from Manila in Northern Luzon

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Regional Geology

Major Intrusive Complexes

This map is showing the distribution of porphyry Cu-Au deposits relative to the major intrusive complexes.

Giant porphyry related metal camps typical of the Pacific Rim of Fire.

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Planning

Drill hole location plan

This map is showing the distribution of porphyry Cu-Au deposits relative to the major intrusive complexes.

Giant porphyry related metal camps typical of the Pacific Rim of Fire.

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Project Boundary

Map showing PFS drillholes and MPSA boundary

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JORC 2012 MINERAL RESOURCE ESTIMATE

(0.25% CuEq cut-off)

Resource Category

Measured

Indicated

Inferred

TOTAL

638

155

793

CuEq (%)

0.68

0.52

0.64

Cu (%)

0.37

0.29

0.35

Au (g/t)

0.40

0.30

0.38

Ag (g/t)

0.8

0.5

0.8

Cu (Mt)

2.3

0.5

2.8

Au (Moz)

8.2

1.5

9.7

Ag (Moz)

High Grade Intercepts

CuEq

DHID

Significant Intercepts

From (m)

To (m)

Interval (m)

Ave %Cu

Ave ppm Au

Higher Grade Intercepts

From (m)

To (m)

Interval (m)

Ave %Cu

Ave ppm Au

PFC-40

MMD-11

PFC-44

THM-22

PFC-43

229.9

156.2

247

254

308

1348.6

1067.5

1219.30

1008

1055

1118.7

911.3

972.30

754

747

0.422

0.51

0.435

0.491

0.486

0.559

0.626

0.584

0.638

0.593

558.3

690.3

883.3

476.1

814.7

487

565

572

395

443

560

790.8

582.3

772.3

1235.15

545.3

1067.5

496

1090

1002

422

461

625.8

1034

351.85

69.2

252.8

525

430

65.8

243.2

0.661

0.486

0.534

0.463

0.733

0.493

0.517

0.581

0.474

1.048

0.64

0.589

0.609

0.622

0.793

1.09

0.886

1.777

0.730

0.8

1.198

1.995

0.747

0.604

MANKAYAN

THE DEPOSIT

Oblique view

>56,850m of Diamond Drilling

Showing the deposition, location of PFS drill holes together with grade shells for copper and gold.

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Drilling View

The resource starts ~200m below surface to ~1,100m (900m x 300-400 intrusive complex) and is expected to be suitable to underground shaft and block caving. Higher grades zones within the global resource of >0.8%Cu and >1.0%Cu

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PFS Drill Holes

H2 2022 completed 2 diamond drill holes to 1,000m to test metallurgy, geotech and hydrology – now with the labs, results due H2 2024.

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Potential Mining Scenario

Previous scoping studies scenario envisaged both block caving or sub-level caving mining methods

Opportunity to access deposit by opening adit from nearby valley

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MANKAYAN – SIZEABLE AMONG
GLOBAL PORPHYRYS

The deposit has a respectable copper grade ranking among global porphyry Cu-Au deposits and is in the first quartile for gold grade. It is still open at depth and on the sides.

Top Five Nickel Producing Countries (Thousand Tonnes, 2021) - GlobalData

Philippines: copper production 2021 | Statista

The Philippines... a rich mining history and a promising future.

It is the 2nd largest producer of nickel 3rd largest for underdeveloped gold projects and 4th for underdeveloped copper projects. The country is also known for being the 5th most mineralised country in the world.

With the recent election of Ferdinand Marcos Jr as president mining has become a government priority. There are numerous domestic and international companies operating in the Philippines such as B2 Gold Goldfields OceanaGold Philex Mining RTG Mining Celsius and Apex Mining.

Additionally the Philippines is part of ASEAN regional trade agreements including an investment chapter with trading partners like Australia.

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Mining Operations in the Philippines

The Philippines has a rich history of mining and is currently positioned for a bright future in the industry. As of 31 July 2023 there are 56 Metallic Mines operating in the Philippines.