Rowan Property

Advanced exploration gold project comprising the historical Rowan, Mount Jamie, and Red Summit mines. Located 16 km west-northwest of Red Lake, Ontario, accessed via all-season gravel roads. Property covers 3,100 ha of patented, leased, and staked claims. Archean lode-style gold zones hosted within hydrothermally altered mafic volcanics. Acquired in December 2022 via the acquisition of West Red Lake Gold Mines Inc., with Evolution Mining's 28% JV interest purchased in March 2023. May-2026 PEA outlines a 475 tpd underground mine over a 5-year LOM producing ~35.2 koz Au/yr at cash cost US$962/oz, initial capex C$70.4M, after-tax NPV5 C$125.3M / IRR 41.9% at US$2,500/oz Au. Ore to be processed at an off-site toll milling facility.