March 2021 Quarterly Activities Report

Highlights

• Diamond drilling results over the Iguana
  and Papayal Prospects received. Diamond  drilling confirms
  widths and grades of the Iguana vein sets reported under the Canadian
  NI 43-101 resource estimate. Better intercepts reported (refer to
  ASX releases dated 3 February and 29 April 2021) include:
  o 4.94m @ 6.28 g/t gold and 16 g/t silver from 82.22m – IGD007
  o 2.28m @ 6.82g/t gold and 88g/t silver from 24.52m – IGD010
  o 2.69m @ 7.54 g/t gold and 38 g/t silver from 125.76m IGD013
  o 3.80m @ 6.92 g/t gold and 30 g/t silver from 117.20m IGD015
  o 8.46m @ 2.23g/t gold and 11g/t silver from 83.60m – IGD016
  o 2.9m @ 20.7g/t gold and 57g/t silver from 49m – TPD005
  o 3.85m @ 3.01g/t gold and 5 g/t silver from 85.8m – TPD008

• Structural analyses of oriented diamond
  core and 3D modelling for both Iguana and Papayal Prospects
  completed, Resource modelling work progressing concurrent
  with confirmatory drilling activity.
• Diamond Drilling continues in June
  Quarter on the Cerro Verde Prospect as part of an ongoing 12,000m
  campaign.
• Re-logging work on over 33,000m of
  archived diamond core from previous drill programmes completed in the
  March quarter. Better Intercepts reported from resampling work (refer to
  ASX release dated 17 February 2021) include:
  o 9.78m @ 0.93 g/t golfd and 10 g/t silver from 3.0m and
  5.9m @ 5.35 g/t gold and 20 g/t silver from 37m and
  25m @ 1.51 g/t gold and 9g/t silver from 66m (CV19-010)

  o 13.9m @ 0.95 g/t gold and 18g/t silver from 24.83m
  Including 2.45m @ 3.01g/t gold and 86g/t silver and
  18.2m @ 0.98 g/t gold and 6 g/t silver from 46m (CV19-012)

  o 4.75m @ 5.65g/t gold and 8 g/t silver from 14.6m (CV19-015)

  o 5.68m @ 1.79 g/t gold and 4 g/t silver from 66.81m (CV19-023)

  o 4.25m @ 6.37g/t gold and 111g/t silver from 56.85m and
  10.8m @ 2.06g/t gold and 10 g/t silver from 89.5m (CV19-028)

Copper Duke geochemistry and geophysical
interpretation results received.
o Geophysics confirms and extends a corridor hosting multiple clusters of intrusive centers

o Multiple extensions to surface expressions of porphyry mineralization and high-grade gold veining located in several areas across the project:
– 11.2m @ 0.98% copper and 4.05m @ 16.4g/t gold
– 26m @ 1.13g/t gold and 0.21% copper