Cariboo Gold Project

Combined underground gold complex consisting of the Cow, Shaft, Valley, Mosquito, and Lowhee zones. Located in the historic Wells-Barkerville mining camp, approximately 74 km east of Quesnel, British Columbia, accessed via paved Highway 26 with grid power to be supplied by a planned transmission line connecting to the Barlow Creek Substation. Property covers 142,885 ha of contiguous mineral titles and Crown-granted parcels, encumbered by a 5% NSR royalty held by OR Royalties. Hosted in the Snowshoe Group of the Barkerville Subterrane, featuring orogenic vein and replacement-type mineralization. Acquired by OR Royalties in 2019 and transferred to the company in 2020. April 2025 Feasibility Study outlines a 4,900 tpd underground mine over a 10-year LOM producing an average of ~191 koz Au/yr at AISC of US$1,157/oz, with initial capex of $881M and after-tax NPV5% of $943.5M. Ore will be processed via ore sorting, gravity concentration, and flotation, with tailings returned underground as paste backfill. Flagship Canadian gold asset.