Back Forty Project

Advanced exploration-stage polymetallic project in Menominee County, Michigan, held 100% through subsidiary Aquila. The Back Forty deposit is a gold-silver-copper-lead-zinc Volcanogenic Massive Sulfide system with both open-pit and underground mineral resources, controlled through owned surface and mineral rights. Following optimization work, the Company published updated Indicated and Inferred resources in the Back Forty Technical Report Summary released in October 2023; no measured resource and no mineral reserve has yet been established. Resources are estimated under S-K 1300 (CIM 2014) using $1,800/oz gold, $23.30/oz silver, $3.90/lb copper, $0.95/lb lead and $1.25/lb zinc, and are exclusive of reserves. Advancement depends on additional feasibility-study work, engineering, permitting and project financing.