About the Manh Choh Project

The Peak Gold deposit is located on top of a group of low hills in the northern part of the Tetlin Lease. It is accessible from the Alaska Hwy via a 15-kilometer exploration road.  To date we have outlined a 1.3 million ounces of Measured + Indicated gold resources averaging 4g/t gold and 14g/t silver in a skarn type mineral deposit. The deposit is well defined with a total of 55,321 meters (181,500 feet) of drilling in 300 drill holes and including 30,989 individual assay intervals.

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Technical Reports

Manh Choh Project – SK1300 Feasibility Study Technical Report

Tetlin Lease Area

The Tetlin Lease is an agreement signed with the Tetlin Tribal Council dated July 15, 2008.  The primary term of the Lease has been extended through July 15, 2028 and the Lease can be further extended past the primary term for so long as the Peak Gold, LLC continues exploration, development or mining activities on the leased land.  The current production royalty rate for precious metals, per the Lease, is 3.0% of net returns for the first four years of full-scale production, 4.0% for the fifth, sixth and seventh years and 5.0% for Year 8 and following years.  The Lease is also subject to a 3% Net Smelter Royalty in favor of Royal Gold, our former partner in the Peak Gold JV, now replaced by Kinross in the newly formed Peak Gold, LLC.  The Lease covers an area of 675,000 acres of private property rights covering both surface and subsurface ownership by the Tetlin Tribe.  Most of the exploration activities have been around the Peak Gold deposit and surrounding area outlined by the black oval on the map.  The rest of the Lease has received only cursory exploration

Tok Option Block

The Tok claim block was staked by Contango in 2010, expanded in 2012 and the boundaries amended/modified again in 2020. This claim block lies at the southern end of the Eagle block and is immediately adjacent to the Tetlin Lease.  This roughly 12,890 acres block (outlined in blue on the adjacent map) is subject to an Option Agreement with Peak Gold, LLC.  The claims encompass the MM prospect which is a known gold occurrence in the State of Alaska Resource Database Files (ARDF) and has been subject to early-stage reconnaissance geologic exploration conducted between 2010 and 2018 by Contango and the Peak Gold joint venture with Royal Gold.  Follow up exploration work at the MM prospect included soil auger sampling with a total of 358 soil auger samples collected in 2012.  Airborne magnetic and electromagnetic surveys were conducted over the Tok claims and a further 99 soil auger samples collected around the MM prospect were completed in 2013.  Assuming that Peak Gold, LLC exercises the Option to acquire these Tok claims, they will become part of the lands to be explored by Peak Gold, LLC.

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