{"id":395660,"date":"2020-12-08T11:23:30","date_gmt":"2020-12-08T16:23:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=395660"},"modified":"2020-12-08T11:23:30","modified_gmt":"2020-12-08T16:23:30","slug":"rokmaster-delivers-robust-economics-for-revel-ridge-after-tax-npv5-0-of-c423m-29-5-irr-and-2-6-years-payback","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rokmaster-delivers-robust-economics-for-revel-ridge-after-tax-npv5-0-of-c423m-29-5-irr-and-2-6-years-payback\/","title":{"rendered":"Rokmaster Delivers Robust Economics for Revel Ridge: After-Tax NPV(5.0%) of C$423M, 29.5% IRR and 2.6 Years Payback"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p \/>\n<p \/>\n<p>\n        <b>TSXV: RKR<br \/><\/b><br \/>\n        <b><br \/>\n          <span class=\"xn-location\">Frankfurt<\/span>: 1RR1<br \/><\/b><br \/>\n        <b>OTC Pink:<\/b><br \/>\n        <b>RKMSF<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-location\">VANCOUVER, BC<\/span>, <span class=\"xn-chron\">Dec. 8, 2020<\/span> \/CNW\/ &#8211;\u00a0<b>Rokmaster Resources Corp. <\/b>\u00a0(&#8220;Rokmaster&#8221; or the &#8220;Company&#8221;) is pleased to announce positive results from the Preliminary Economic Assessment (&#8220;PEA&#8221;) study prepared in accordance with National Instrument 43-101 by Micon International Limited (&#8220;Micon&#8221;), supported by Canenco Consulting Corp., Base Metallurgical Laboratories Ltd., Canadian Northern Mining Corp., and Knight Pi\u00e9sold Consulting,\u00a0for the Revel Ridge polymetallic gold-silver Project (&#8220;Revel Ridge&#8221; or the &#8220;Project&#8221;) located in the <span class=\"xn-location\">Revelstoke<\/span> area of southeastern <span class=\"xn-location\">British Columbia<\/span>. <\/p>\n<p>The PEA demonstrates the Revel Ridge Project&#8217;s potential to become a long life, low cost, robust polymetallic gold-silver mine with strong project economics with a base case gold price of <span class=\"xn-money\">US$1,561<\/span>\/ounce gold. In addition to the PEA, Revel Ridge has significant upside potential to expand current resources through ongoing exploration diamond drilling down dip, up dip, along strike and on other occurrences, with more than 430 samples currently awaiting assay. <\/p>\n<p>\n        <b>Revel Ridge 2020 PEA Highlights\u00a0(reported in C$, except where noted)\u00a0include:<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>High-grade underground mine with mill-feed averaging <span class=\"xn-money\">$300<\/span>\/T NSR value\u00a0(diluted) comprised of the Main Zone with 9.39 MT averaging 4.24 g\/t Au, 49.8 g\/t Ag, 2.62 % Zn, 1.63 % Pb (diluted) and the Yellow Jacket Zone 0.65 MT averaging 7.47% Zn, 1.90% Pb, 43.0 g\/t Ag and 0.06 g\/t Au (diluted). Years 1-4 mill-feed will average &gt;<span class=\"xn-money\">$400<\/span>\/T NSR (diluted).<\/b>\n        <\/li>\n<li>\n          <b>After-tax NPV<\/b><br \/>\n          <b>5.0% of <span class=\"xn-money\">C$423M<\/span> and 29.5% IRR at <span class=\"xn-money\">US$1,561<\/span>\/oz Au, <span class=\"xn-money\">US$20.55<\/span>\/oz\u00a0Ag, <span class=\"xn-money\">US$1.07<\/span>\/lb Zn, and <span class=\"xn-money\">US$0.91<\/span>\/lb Pb.<\/b>\n        <\/li>\n<li>\n          <b>After-tax payback period of 2.6\u00a0years discounted at 5.0%.<\/b>\n        <\/li>\n<li>\n          <b>After-tax NPV<sub>5.0%<\/sub> CAPEX Ratio of\u00a01.1:1<\/b>\n        <\/li>\n<li>\n          <b>Life of mine (&#8220;LOM&#8221;) average annual production of 124,000 oz payable AuEq. (89,000 oz Au, 690,000 oz Ag, 37.5 Mlbs Zn, 21.2 Mlbs Pb).<\/b>\n        <\/li>\n<li>\n          <b>LOM all-in sustaining costs (&#8220;AISC&#8221;) net of Ag-Zn-Pb by-products is <span class=\"xn-money\">US$560<\/span>\/oz payable Au.<\/b>\n        <\/li>\n<li>\n          <b>LOM AISC of <span class=\"xn-money\">US$842<\/span>\/oz payable AuEq.\u00a0<\/b>\n        <\/li>\n<li>\n          <b>LOM cash costs net of Ag-Zn-Pb by-products is <span class=\"xn-money\">US$362<\/span>\/oz payable Au.<\/b>\n        <\/li>\n<li>\n          <b>LOM cash costs of <span class=\"xn-money\">US$700<\/span>\/oz payable AuEq.\u00a0<\/b>\n        <\/li>\n<li>\n          <b>2,300 tonne per day (TPD) mill comprising crushing-sorting-grinding-gravity-flotation-POX plant, producing gold\/silver dor\u00e9 and saleable\u00a0zinc and lead concentrates<\/b>\n        <\/li>\n<\/ul>\n<p \/>\n<div>\n<table id=\"convertedTable78cb\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Notes:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Exchange Rate (US$\/C$) of\u00a00.77<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash costs are inclusive of mining costs, processing costs, and site G&amp;A<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">AISC includes cash costs plus estimated sustaining capital and closure\u00a0costs<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Payable Gold Equivalent (AuEq) calculated by dividing net sales revenue by $1,556 (i.e., $1,561\/oz Au less $5\/oz Au refining costs).<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Rokmaster&#8217;s Chairman, <span class=\"xn-person\">Michael (&#8220;Mike&#8221;) Cowin<\/span> stated, &#8220;Revel Ridge is a remarkable property that has been worked on since 1912 to unlock its riches. After significant metallurgical, marketing and processing studies, this PEA demonstrates that Revel Ridge has a solid future ahead as a high-grade underground polymetallic gold-silver mine, utilizing conventional mining &amp; processing equipment to produce a combination of saleable concentrates and gold-silver dor\u00e9. The Project has the potential to produce an average of 124,000 gold-equivalent ounces per year with a diluted mill feed grade of 5.53 grams per tonne gold-equivalent. By selling zinc and lead-silver concentrates to reliable Canadian and offshore smelters and utilizing low risk onsite processing facilities, we are able to keep initial capital costs low and cut marketing risk both short and long term.&#8221; <\/p>\n<p>\n        <span class=\"xn-person\">John Mirko<\/span>, President and CEO of Rokmaster commented &#8220;This is a very strong start to a project with significant exploration upside. As a historical exploration site, Revel Ridge benefits from tremendous infrastructure in the nearby area and on-site installed by the previous\u00a0developers, in addition to its location in a favourable, mine-friendly jurisdiction. Rokmaster&#8217;s team has substantial experience with permitting, constructing and operating mines in the Kootenay region and has demonstrable history of supporting community through mine development with low environmental impact.&#8221; <\/p>\n<p>\n        <b>PEA Overview<\/b>\n      <\/p>\n<p>The 2020 Revel Ridge PEA considers an underground mine with on-site treatment of the mined material by conventional milling, gravity and flotation to produce concentrates for sale to third-party smelters, in combination with on-site treatment of refractory gold concentrates to produce gold-silver dor\u00e9. The mine will comprise an owner-operated, ramp developed, long hole stope underground mine.<\/p>\n<p>The\u00a0processing\u00a0capacity\u00a0of\u00a02,300\u00a0tonnes\u00a0per\u00a0day\u00a0will\u00a0result\u00a0in\u00a0a\u00a0production lifespan of 12 years. An additional 18 months of mine ramp access and development, and construction of the process plant and dry-stack tailings facility is planned prior to the Project becoming fully operational in Year 1. The PEA leverages Revel Ridge&#8217;s extensive existing infrastructure, including all-weather access roads, local hydroelectric facilities, 3 km of underground development, permitted waste rock storage facility, full camp facility and proximity to the <span class=\"xn-location\">City of Revelstoke<\/span> with its skilled labour pool.<\/p>\n<p>The PEA is derived from the Company&#8217;s NI 43-101 resource estimate (<span class=\"xn-chron\">January 29, 2020<\/span>), and does not include results from the recently initiated and ongoing 2020 exploration diamond drilling program. The effective date of the PEA is <span class=\"xn-chron\">December 8, 2020<\/span> and a technical report will be filed on the Company&#8217;s website and on SEDAR within 45 days of this disclosure.<\/p>\n<p>Mineral resources that are not mineral reserves do not have demonstrated economic viability. This PEA is preliminary innature and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results of this PEA will be realized.<\/p>\n<p>\n        <b>Table 1: Revel Ridge 2020 PEA Detailed Parameters and Outputs<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Assumptions<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Gold Price (US$\/oz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,561<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Silver Price (US$\/oz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$20.55<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Zinc Price (US$\/lb)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1.07<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Lead Price (US$\/lb)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$0.91<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Exchange Rate (US$\/C$)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.77<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Royalties<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Contained Metals in Mill Feed<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Contained Gold Ounces (koz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,280<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Contained Silver Ounces (koz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,934<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Contained AuEq Ounces (koz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,785<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Mining<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Mine Life (Years)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Main Zone LOM production (MT, diluted)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9.39<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Gold Grade (g\/T) <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.24<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Silver Grade (g\/T)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">49.8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Zinc Grade %<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.62<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Lead Grade %<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.63<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Yellow Jacket Zone LOM production (Mt, diluted)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.65<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Gold Grade (g\/T)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.06<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Silver Grade (g\/T)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43.00<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Zinc Grade %<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.47<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Lead Grade %<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.90<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Processing<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Processing Throughput (TPD)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,300<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Total Mill-feed Tonnage (MT)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,04<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average revenue per tonne treated (C$\/T)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">300.25<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Diluted Gold Equivalent Grade (g\/T AuEq)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.53<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Production<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Gold Recovery<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">83.5%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Silver Recovery<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52.0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Gold Production (koz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,068<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Silver Production (koz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,282<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Zinc Production (Mlbs)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">450<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Lead Production (Mlbs)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">255<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Gold Equivalent Production (koz AuEq)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,490<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Average Annual Gold Production (koz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Average Annual Silver Production (koz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">690<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Average Annual Gold Equivalent Production (koz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">124<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Operating Costs<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Mining Cost (C$\/T Milled)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$62.42<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Processing Cost (C$\/T Milled)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$65.07<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">G&amp;A Cost (C$\/T Milled)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$7.59<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Total Operating Cost (C$\/T Milled)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$135.08<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cash Costs and AISC<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Cash Cost (US$\/oz Au) Net of Silver-Zinc-Lead By-Products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$362<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM Cash Cost (US$\/oz AuEq) Co-Product<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$700<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM AISC (US$\/oz Au) Net of Silver-Zinc-Lead By-Products<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$560<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM AISC (US$\/oz AuEq) Co-Product<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$842<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Capital Expenditures<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Pre-Production Capital Expenditures (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$396<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Sustaining Capital Expenditures (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$274<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Reclamation Cost (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$6.5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Economics<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax NPV (5.0%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$423<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax NPV (7.5%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$345<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax NPV (10.0%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$279<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax IRR(%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29.5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax Payback Period, base case discounted at 7.5% (Years)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax NPV<sub>7.5<\/sub>:CAPEX Ratio<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.9:1<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Pre-Tax NPV (5.0%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$689<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Pre-Tax NPV (7.5%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$578<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Pre-Tax NPV (10.0%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$484<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Pre-Tax IRR (%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39.6<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Pre-Tax NPV<sub>7.5<\/sub>:CAPEX Ratio<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.5:1<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Annual After-Tax Free Cash Flow (Year 1-5) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$160<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">LOM After-Tax Free Cash Flow (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$630<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTabled297\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Notes:<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash costs are inclusive of mining costs, processing costs, and site G&amp;A<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">AISC includes cash costs plus corporate G&amp;A, sustaining capital and closure\u00a0costs<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Payable Gold Equivalent (AuEq) calculated by dividing net sales revenue by $1,556 (i.e., $1,561\/oz Au less $5\/oz Au refining costs).<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Sensitivities<\/b>\n      <\/p>\n<p>Base case NPV<sub>7.5%<\/sub> remains positive for changes of 25% in revenue drivers (commodity prices, grade, and recovery), capital expenditure or operating costs. After-tax economic sensitivities to commodity prices are presented in Table 2 illustrating the effects of varying gold price as compared to the base-case. Additional Project sensitivities will be presented in the Technical Report.<\/p>\n<p>\n        <b>Table 2: After-Tax NPV and IRR Sensitivities to Commodity Prices<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnml8 prnmr6\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Lower <br \/>Case<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnml10 prnmr6\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Base <br \/>Case<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnml20 prnmr6\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Higher <br \/>Case<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Gold Price (US$\/oz)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,400<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$1,561<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$1,700<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax NPV (5.0%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">307<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>423<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">523<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax NPV (7.5%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">242<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>345<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">433<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax NPV (10.0%) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">187<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>279<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">358<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax IRR (%)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>29.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34.4<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">After-Tax Payback discounted at 7.5% (Years)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.4<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Average Annual After-Tax Free Cash Flow (Years 1-5) (C$M)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">140<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>160<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">177<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Revel Ridge Mineral Resource Estimate<\/b>\n      <\/p>\n<p>The\u00a0Company&#8217;s\u00a0current\u00a0Mineral\u00a0Resource\u00a0Estimate\u00a0(&#8220;MRE&#8221;);\u00a0please refer to the technical report entitled &#8220;Updated Technical Report on the Revel Ridge Property (formerly J&amp;L Property), Revelstoke Mining Division, <span class=\"xn-location\">British Columbia, Canada<\/span>&#8221; dated <span class=\"xn-chron\">February 25, 2020<\/span> with an effective\u00a0date\u00a0of\u00a0January 29, 2020) completed by P&amp;E Mining Consultants forms the basis for this PEA. The MRE does not include drilling results from the Company&#8217;s recently initiated and ongoing 2020 exploration diamond drill\u00a0program.<\/p>\n<p>\n        <b>Table\u00a03:\u00a0 Mineral\u00a0Resources\u00a0reported\u00a0at\u00a0CAD 110\/t NSR\u00a0cut-off (effective date: <span class=\"xn-chron\">January 29, 2020<\/span>):<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbtd prnrbrs prnvam prnsbbd prntac prnpl6 prnsbld prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Mineralized<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Zone<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Classification<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Tonnes<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(k)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Au<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(g\/t)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Au<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(koz)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Ag<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(g\/t)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Ag<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(koz)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Pb<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(%)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Zn<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(%)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Au Eq<br \/><\/b><br \/>\n                <\/span><br \/>\n                <span class=\"prnews_span\"><br \/>\n                  <b>(g\/t)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbtd prnsbrd prnvam prnsbbd prntac prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Au Eq<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(koz)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Main Zone<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Measured<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,352<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6.13<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">266<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">62.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,730<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.19<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.09<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9.14<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">397<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Indicated<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,848<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.33<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">488<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">49<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,487<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.72<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.56<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">692<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Meas &amp; Ind<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,200<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5.59<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>755<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>53.4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>7,216<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.87<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3.43<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>8.07<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,089<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inferred<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,562<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.36<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">639<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">61.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,064<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.88<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.59<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6.55<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">961<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"2\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>HW Zone<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Indicated<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>298<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.91<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>55.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>530<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5.72<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4.70<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>45<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inferred<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.22<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">75<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">92<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.08<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.44<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.34<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>FW Zone<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inferred<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">341<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.91<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">277<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.48<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">46<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"2\" class=\"prnsbt1 prnrbrs prnvab prnsbbd prntac prnpl6 prnsbld prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Yellowjacket Zone<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Indicated<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>771<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.09<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>62.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,552<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9.93<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NA<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NA<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inferred<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.65<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7.68<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prnsbrd prnvab prnsbbd prntac prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">NA<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable7d16\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen20\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>1)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.\u00a0 The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>2)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>3)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>The Mineral Resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>4)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>The following parameters were used to derive the NSR block model cut-off values used to define the Mineral Resource: <\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Dec 31, 2019 US$ two-year trailing avg. metal prices: <\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>&#8211; Pb $0.96\/lb, Zn $1.24\/lb, Au $1,331\/oz, Ag $15.95\/oz<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>&#8211; Exchange rate of US$0.76 = CDN $1.00<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>&#8211; Process recoveries of Pb 74%, Zn 75%, Au 91%, Ag 80%<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>&#8211; Smelter payables of Pb 95%, Zn 85%, Au 96%, Ag 91%<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>&#8211; Refining charges of Au US$10\/oz, Ag US$0.50\/oz<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>&#8211; Concentrate freight charges of C$65\/t and Smelter treatment charge of US185\/t<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>&#8211; Mass pull of 5% and 8% concentrate moisture content.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>5)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>NSR cut-off of CDN$110 per tonne was derived from $75\/t mining, $25\/t processing, $10\/t G&amp;A.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>6)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>AuEq= Au g\/t + (Ag g\/t x 0.011) + (Pb % x 0.422) + (Zn % x 0.455)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>7)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Above parameters derived from 2012 PEA and other similar benchmarked projects.<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Mining Overview<\/b>\n      <\/p>\n<p>An underground mining scenario is the basis for this PEA. The owner-operated and leased mining fleet will utilize conventional trackless haulage and long-hole stoping with backfill using process tailings (paste) and waste rock.<\/p>\n<p>The mine designs and scheduling were engineered to provide 840 kt per year of mineralization to the 2,300 TPD process plant. A total of 10.04 Mt of diluted mill feed comprising of Main Zone mineralisation with 9.39 MT averaging 4.24 g\/t Au, 49.8 g\/t Ag, 2.62 % Zn, 1.63 % Pb (diluted) and Yellow Jacket Zone mineralisation of 0.65 MT averaging 7.47% Zn, 1.90% Pb, 43.0 g\/t Ag and 0.06 g\/t Au (diluted) is expected to be processed over the LOM. Mill feed will be trucked from underground to the process facility located proximal to the main portal. Waste rock that cannot be accommodated within the mine as backfill will be stored together with dry-stack tailings in a facility constructed adjacent to the process plant. Underground mining dilution has been accounted for in the minimum <span class=\"xn-money\">2.5 m<\/span> width of stope shapes, with an additional allowance for overbreak. Total dilution in the Main zone is estimated at 32.1% and in the Yellow Jacket Zone at 38.7%.<\/p>\n<p>\n        <b>Metallurgical Optimizations<\/b>\n      <\/p>\n<p>To support this PEA, recent metallurgical test work was supervised by Canenco Consulting Corp. and flowsheet developmental test work was undertaken at Base Metallurgical Laboratories Ltd. using samples from the Main Zone, which represent a significant proportion of the mine plan. The 2020 metallurgical program has focused on optimizing sulphide flotation, resulting in similar recoveries but lower mass pulls than was indicated by earlier studies. Overall recoveries to payable product in the PEA are 83.5%, 52.0%, 70.0% and 69.2% for gold, silver, lead and zinc respectively.<\/p>\n<p>\n        <b>Processing Overview<\/b>\n      <\/p>\n<p>Run-of-mine (ROM) material is crushed and screened before dense media separation (DMS) to remove gangue. The beneficiated material reports to the milling, gravity and flotation circuits where lead and zinc sulphide concentrates are separated and dewatered for sale while the refractory sulphides are collected and treated by pressure oxidation (POX) to facilitate extraction of gold and silver by conventional CIL, electrowinning and smelting to dor\u00e9 bars.<\/p>\n<p>\n        <b>Concentrate Marketing Studies<\/b>\n      <\/p>\n<p>Multiple marketing assessments have been completed to support this PEA which confirm that Revel Ridge zinc and lead-silver-gold concentrates are readily saleable. At the same time, it became apparent that the economic returns from treating refractory material on site are significantly better, and reduces marketing risk, than those of entering into offtake agreements utilizing Asian smelters and third party POX plants.<\/p>\n<p \/>\n<p>\n        <b>Capital Costs<\/b>\n      <\/p>\n<p>\n        <b>Table 4: Project Capital Cost Estimates (C$M) (totals may differ due to rounding):<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbt1 prnrbrs prnsbbs prntal prnpl6 prnsbl1 prnpr6\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnmr10\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Initial<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnmr10\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sustaining<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnmr10\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>LOM<br \/><\/b><br \/>\n                <\/span><br \/>\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Mine<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Underground Development<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$29.18<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$104.37<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$133.55<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Mining Equipment leases<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$4.62<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$89.38<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$94.00<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Mine Infrastructure<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$0.50<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$0.50<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sub-Total Mine<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$33.79<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$194.25<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$228.05<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Processing<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Crushing, grinding, DMS<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$13.19<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$13.19<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Flotation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$13.13<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$13.13<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Dewatering, tailings, paste<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$7.68<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$7.68<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">POX\/CIL\/gold room<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$104.88<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$7.48<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$112.36<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Installation costs<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$47.78<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$47.78<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Site prep, buildings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14.50<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$14.50<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sub-Total Processing<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$201.16<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$7.48<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$208.64<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Infrastructure<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Power<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$19.45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$19.45<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">TSF, Water Supply &amp; Treatment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$16.14<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$63.14<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$79.28<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other infrastructure<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$5.57<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$5.57<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sub-Total Infrastructure<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$41.16<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$63.14<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$104.30<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Direct<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$276.11<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$264.87<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$540.98<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Indirect<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$49.53<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$49.53<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Owner&#8217;s Costs<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$7.93<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$7.93<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Total excluding contingency<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$333.57<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$264.87<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$598.44<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Project Contingency<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$62.39<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$8.95<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$71.34<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sub-total including contingency<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$395.96<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$273.82<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$669.78<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Closure<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$6.50<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$6.50<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$395.96<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$280.32<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$676.28<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p \/>\n<p>\n        <b>Environmental and Permitting Considerations<\/b>\n      <\/p>\n<p>Revel Ridge represents an existing exploration site with existing permits for mine discharge and waste disposal. The site has been maintained in good standing and environmental monitoring has been ongoing during operations and since the site was last active in 2012. There is a substantial database of environmental information for the site and region spanning almost 37 years. To accommodate the mine design contemplated by the PEA, updated environmental assessment and mine permits will be required. The Company is currently performing an analysis of existing environmental data to identify additional data needs with the intent of carrying out environmental baseline studies to advance the permitting process.<\/p>\n<p>\n        <b>Community Relations<\/b>\n      <\/p>\n<p>Rokmaster team members have maintained a long-standing historical relationship with several local communities and First Nations during past exploration, development and mining operations in the region since 1986. <\/p>\n<p>\n        <b>Conclusion and Recommendations<\/b>\n      <\/p>\n<p>The 2020 PEA clearly demonstrates that Revel Ridge has the potential to become a commercially viable project. Additional opportunities and next steps include:<\/p>\n<ul type=\"disc\">\n<li>Continued exploration and infill drilling for conversion of inferred resources to the measured and indicated\u00a0categories <\/li>\n<li>Potential for expansion and upgrading of the existing underground resources <\/li>\n<li>Mine scheduling investigations allowing for further optimization of blending\u00a0scenarios <\/li>\n<li>Supplementary metallurgical optimizations including deposit-wide variability\u00a0testing <\/li>\n<li>Analyses and environmental baseline studies to support expedited\u00a0permitting <\/li>\n<li>Further optimization of water management\u00a0infrastructure<\/li>\n<\/ul>\n<p \/>\n<p>\n        <b>Qualified Persons<\/b>\n      <\/p>\n<ol type=\"1\">\n<li>\n          <span class=\"xn-person\">Eugene Puritch<\/span>, P.Eng., FEC, CET <\/li>\n<li>\n          <span class=\"xn-person\">Fred Brown<\/span>, P.Geo. <\/li>\n<li>\n          <span class=\"xn-person\">Alfred Hayden<\/span>, P.Eng. <\/li>\n<li>\n          <span class=\"xn-person\">Jarita Barry<\/span>, P.Geo. <\/li>\n<li>\n          <span class=\"xn-person\">Richard Routledge<\/span>, P.Geo. <\/li>\n<li>\n          <span class=\"xn-person\">Nigel Fung<\/span>. P.Eng. <\/li>\n<li>\n          <span class=\"xn-person\">Richard Gowans<\/span>, P.Eng.<\/li>\n<\/ol>\n<p>All Qualified Persons have contributed to their corresponding sections in Interpretation and Recommendations of the Technical Report, and have reviewed and approved the scientific, technical and economic information contained in this news release.<\/p>\n<p>The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting the exploration and development activities on its projects.<\/p>\n<p>\n        <b>About Rokmaster<\/b>\n      <\/p>\n<p>Rokmaster&#8217;s focus is on exploring for base and precious metals, and its flagship asset is its option to earn 100% of the Revel Ridge polymetallic precious metals project situated in the prolific Kootenay Arc.\u00a0 Please refer to the technical report titled &#8220;Updated Technical Report on the Revel Ridge Property (formerly J&amp;L Property), Revelstoke Mining Division, <span class=\"xn-location\">British Columbia, Canada<\/span>&#8221; dated <span class=\"xn-chron\">February 25, 2020<\/span> with an effective date of <span class=\"xn-chron\">January 29, 2020<\/span>, which the Company has filed on SEDAR.<\/p>\n<p>\n        <b>On behalf of the Board of Directors,<\/b>\n      <\/p>\n<p>\n        <i>&#8220;John Mirko&#8221;<\/i>\n      <\/p>\n<p>\n        <span class=\"xn-person\">John Mirko<\/span>, President and Chief Executive Officer.<\/p>\n<p>Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of <span class=\"xn-location\">Canada<\/span> accepts responsibility for the adequacy or accuracy of this release.<\/p>\n<p>\n        <b>Forward-looking Information<\/b>\n      <\/p>\n<p>This release contains &#8220;forward-looking information&#8221; within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking information includes, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the results of the PEA. <\/p>\n<p>Often, but not always, forward-looking information can be identified by the use of words such as &#8220;plans&#8221;, &#8220;planning&#8221;, &#8220;planned&#8221;, &#8220;expects&#8221; or &#8220;looking forward&#8221;, &#8220;does not expect&#8221;, &#8220;continues&#8221;, &#8220;scheduled&#8221;, &#8220;estimates&#8221;, &#8220;forecasts&#8221;, &#8220;intends&#8221;, &#8220;potential&#8221;, &#8220;anticipates&#8221;, &#8220;does not anticipate&#8221; or &#8220;belief&#8221; or describes a &#8220;goal&#8221; or variation of such words and phrases or state that certain actions, events or results &#8220;may&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;might&#8221; or &#8220;will&#8221; be taken, occur or be achieved. <\/p>\n<p>Forward-looking information is based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and\/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. <\/p>\n<p>Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, risks related to the fluctuations in metal prices; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfil expectations and realize the perceived potential of the Project; changes in project parameters as plans continue to be refined; risks related to the Armex litigation; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses; the risk of environmental contamination or damage resulting from Rokmaster&#8217;s operations and other risks and uncertainties; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company&#8217;s publicly filed documents. <\/p>\n<p>Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.<\/p>\n<p>SOURCE  Rokmaster Resources Corp.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C2360&amp;Transmission_Id=202012081120CANADANWWEB______C2360&amp;DateId=20201208\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire TSXV: RKR Frankfurt: 1RR1 OTC Pink: RKMSF VANCOUVER, BC, Dec. 8, 2020 \/CNW\/ &#8211;\u00a0Rokmaster Resources Corp. \u00a0(&#8220;Rokmaster&#8221; or the &#8220;Company&#8221;) is pleased to announce positive results from the Preliminary Economic Assessment (&#8220;PEA&#8221;) study prepared in accordance with National Instrument 43-101 by Micon International Limited (&#8220;Micon&#8221;), supported by Canenco Consulting Corp., Base Metallurgical Laboratories Ltd., Canadian Northern Mining Corp., and Knight Pi\u00e9sold Consulting,\u00a0for the Revel Ridge polymetallic gold-silver Project (&#8220;Revel Ridge&#8221; or the &#8220;Project&#8221;) located in the Revelstoke area of southeastern British Columbia. The PEA demonstrates the Revel Ridge Project&#8217;s potential to become a long life, low cost, robust polymetallic gold-silver mine with strong project economics with a base case gold price of US$1,561\/ounce gold. In addition to the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rokmaster-delivers-robust-economics-for-revel-ridge-after-tax-npv5-0-of-c423m-29-5-irr-and-2-6-years-payback\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Rokmaster Delivers Robust Economics for Revel Ridge: After-Tax NPV(5.0%) of C$423M, 29.5% IRR and 2.6 Years Payback&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-395660","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rokmaster Delivers Robust Economics for Revel Ridge: After-Tax NPV(5.0%) of C$423M, 29.5% IRR and 2.6 Years Payback - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rokmaster-delivers-robust-economics-for-revel-ridge-after-tax-npv5-0-of-c423m-29-5-irr-and-2-6-years-payback\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rokmaster Delivers Robust Economics for Revel Ridge: After-Tax NPV(5.0%) of C$423M, 29.5% IRR and 2.6 Years Payback - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire TSXV: RKR Frankfurt: 1RR1 OTC Pink: RKMSF VANCOUVER, BC, Dec. 8, 2020 \/CNW\/ &#8211;\u00a0Rokmaster Resources Corp. \u00a0(&#8220;Rokmaster&#8221; or the &#8220;Company&#8221;) is pleased to announce positive results from the Preliminary Economic Assessment (&#8220;PEA&#8221;) study prepared in accordance with National Instrument 43-101 by Micon International Limited (&#8220;Micon&#8221;), supported by Canenco Consulting Corp., Base Metallurgical Laboratories Ltd., Canadian Northern Mining Corp., and Knight Pi\u00e9sold Consulting,\u00a0for the Revel Ridge polymetallic gold-silver Project (&#8220;Revel Ridge&#8221; or the &#8220;Project&#8221;) located in the Revelstoke area of southeastern British Columbia. The PEA demonstrates the Revel Ridge Project&#8217;s potential to become a long life, low cost, robust polymetallic gold-silver mine with strong project economics with a base case gold price of US$1,561\/ounce gold. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/rokmaster-delivers-robust-economics-for-revel-ridge-after-tax-npv5-0-of-c423m-29-5-irr-and-2-6-years-payback\/","og_locale":"en_US","og_type":"article","og_title":"Rokmaster Delivers Robust Economics for Revel Ridge: After-Tax NPV(5.0%) of C$423M, 29.5% IRR and 2.6 Years Payback - Market Newsdesk","og_description":"Canada NewsWire TSXV: RKR Frankfurt: 1RR1 OTC Pink: RKMSF VANCOUVER, BC, Dec. 8, 2020 \/CNW\/ &#8211;\u00a0Rokmaster Resources Corp. \u00a0(&#8220;Rokmaster&#8221; or the &#8220;Company&#8221;) is pleased to announce positive results from the Preliminary Economic Assessment (&#8220;PEA&#8221;) study prepared in accordance with National Instrument 43-101 by Micon International Limited (&#8220;Micon&#8221;), supported by Canenco Consulting Corp., Base Metallurgical Laboratories Ltd., Canadian Northern Mining Corp., and Knight Pi\u00e9sold Consulting,\u00a0for the Revel Ridge polymetallic gold-silver Project (&#8220;Revel Ridge&#8221; or the &#8220;Project&#8221;) located in the Revelstoke area of southeastern British Columbia. The PEA demonstrates the Revel Ridge Project&#8217;s potential to become a long life, low cost, robust polymetallic gold-silver mine with strong project economics with a base case gold price of US$1,561\/ounce gold. 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