NI 43-101 Technical Report for the Sakami Property Radisson Area, Québec, Canada

NI 43-101 Technical Report for the Sakami Property Radisson area, Québec, Canada

Respectfully submitted to:

Mr. André Gauthier, General Manager Matamec Explorations Inc.

Mr. Jean-Francois Meilleur, CEO and President Canada Strategic Metals

Submitted by: Olivier Vadnais-Leblanc, P.Geo Claude Bisaillon, Ing. Daniel Leroux, P.Geo SGS Canada Inc.

Effective Date: November 24, 2017 October 26th, 2017

Prepared By:

NI 43-101 Technical Report – Sakami – Radisson Area Page ii

Table of Contents

Table of Contents ...... ii

List of Tables ...... viii

List of Figures ...... ix

1. Executive Summary ...... 1

Notice to readers ...... 1

1.1 Introduction ...... 1

1.2 Property Location and Description...... 1

1.3 Geology and Mineralization ...... 2

1.4 Historical Exploration Work ...... 3

1.5 Interpretations Conclusions and Recommendations ...... 9

1.6 Recommendations ...... 10

2. Introduction ...... 16

2.1 General ...... 16

2.2 Terms of Reference ...... 16

2.3 Currency, Units, Abbreviations and Definitions ...... 17

2.4 Disclaimer ...... 17

2.5 Site Visits ...... 18

2.6 Sources of Information ...... 18

3. Reliance on Other Experts ...... 19

3.1 Mineral Tenure ...... 20

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page iii

4. Property Description and Location ...... 21

4.1 Location ...... 23

4.2 Ownership and Agreements ...... 24

4.2.1 Royalties ...... 24

4.3 Mineral Tenure ...... 26

4.4 Permits and Environmental Liabilities ...... 28

5. Accessibility, Climate, Local Resources, Infrastructure and Physiography ...... 29

5.1 Physiography ...... 29

5.2 Accessibility ...... 30

5.3 Climate ...... 33

5.4 Local Resources and Infrastructure ...... 34

5.5 Surface Rights...... 35

6. History ...... 36

6.1 Prior Ownership of the Property and Ownership Changes ...... 36

6.2 Historical Mineral Exploration Work on the Sakami Property Area (1950’s – 1996) ...... 36

6.2.1 1957 - 2008 ...... 36

6.3 Historical Exploration Work by Matamec ...... 40

7. Geological Setting and Mineralization ...... 45

7.1 Regional Geology ...... 45

7.2 Property Geology ...... 46

7.3 Local Geology ...... 49

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page iv

7.3.1 La Pointe Sector ...... 49

7.3.2 Zone 23 ...... 52

7.3.3 Zone 25 ...... 53

7.3.4 Zone 26 ...... 56

7.3.5 La Pointe Structural Geology ...... 56

7.3.6 JR Sector ...... 60

7.3.7 JR Structural Geology ...... 60

7.3.8 9.6 Showing ...... 62

7.3.9 43 Showing ...... 63

7.3.10 Île Showing ...... 64

7.3.11 Peninsule Sector ...... 66

7.3.11.1 Detailed Geology of the Peninsule sector, 2016 Mapping ...... 66

8. Deposit Types ...... 69

8.1 Stratabound gold occurrences associated with oxide facies or silicate-oxide-facies iron formations (Au-Ag-As) ...... 70

8.2 Orogenic gold occurrences related to longitudinal shear zones (Greenstone-hosted quartz-carbonate vein deposits) ...... 72

8.3 Roberto Style mineralization, Éléonore Project (from Ravenelle et al. 2010) ...... 76

8.4 Puffy Lake gold deposit-like occurrences (from Ostry and Halden, 1995) ...... 78

8.5 Witwatersrand paleoplacer model (a low-grade metamorphosed siliciclastic sediment basin)79

9. Exploration ...... 81

9.1 Prospecting and Channel Sampling ...... 81

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page v

9.2 Geochemical Surveys ...... 84

9.3 Geophysical Surveys...... 87

9.4 2016 Exploration ...... 92

10. Drilling ...... 99

10.1 Methodology ...... 99

10.2 2015 Campaign...... 99

10.3 2016 Campaign...... 102

10.4 2017 Campaign...... 105

11. Sample Preparation, Analyses and Security ...... 107

11.1 Sample Preparation ...... 107

11.1.1 Core Sampling ...... 107

11.1.2 Surface Sampling ...... 108

11.1.3 Surface Channel Sampling ...... 108

11.2 Analyses ...... 108

11.2.1 Laboratory Certification ...... 108

11.2.2 Analytical Procedure ...... 108

11.3 Quality Control and Quality Assurance Programs ...... 109

12. Data Verification ...... 110

12.1 Verification Re-Assays ...... 110

12.2 Database verification ...... 110

12.3 Site Visit ...... 110

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page vi

12.4 Conclusion ...... 111

13. Mineral Processing and Metallurgical Testing ...... 112

14. Mineral Resources Estimate ...... 112

15. Mineral Reserves Estimate ...... 112

16. Mining Methods ...... 112

17. Recovery Methods ...... 112

18. Project Infrastructure ...... 112

19. Market Studies and Contracts ...... 113

20. Environmental Studies, Permitting and Social or Community Impact ...... 113

21. Capital and Operating Costs...... 113

22. Economic Analysis ...... 113

23. Adjacent Properties ...... 114

23.1 Hinterland Metals Inc...... 115

23.2 CSM (Métaux stratégiques du Canada) ...... 116

23.3 Ressources Sirios ans Ressources Sphinx ...... 116

23.4 Harfang Exploration Inc...... 117

23.5 Goldcorp Inc...... 118

24. Other Relevant Data and Information ...... 118

25. Interpretations and Conclusions ...... 119

26. Recommendations ...... 121

27. References ...... 132

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page vii

27.1 Web and Databases References ...... 139

28. Date and Signature Page ...... 140

29. Certificates of Qualified Persons ...... 141

Appendix I. List of Claims ...... 147

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page viii

List of Tables

Table 6-1: 2013 – 2014 significant drilling intercepts...... 43

Table 9-1: 2015 channel samples on the Peninsule showing...... 83

Table 9-2: 2016 channel sample significant results...... 94

Table 9-3: 2016 grab sample significant results...... 95

Table 10-1: 2015 drill hole information...... 100

Table 10-2: 2015 significant drill hole mineralized intercepts...... 101

Table 10-3: 2016 drill hole information...... 102

Table 10-4: 2016 significant drill hole mineralized intercepts...... 104

Table 10-5 2017 Drill hole information ...... 105

Table 10-6: 2017 significant drill hole mineralized intercepts...... 107

Table 26-1: Proposed drill holes for 2018 drilling program for Zone 25 on La Pointe Area ...... 122

Table 26-2: Proposed 2018 Winter drilling program and Summer Exploration Programs for the Sakami Project ...... 130

Table 26-3: Budget for the proposed 2018 Fall drilling programs for the JR, Peninsule, Sakami West, Sakami South and La Pointe Areas ...... 131

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page ix

List of Figures

Figure 4-1 Agreement between Matamec Explorations Inc. and Canada Strategic Metals ...... 22

Figure 4-2 Location of Sakami Property ...... 23

Figure 4-3 Sakami Property – Claims associated with an NSR royalty ...... 25

Figure 4-4 Sakami Property claims ...... 27

Figure 5-1: Location of the Property and local amenities...... 29

Figure 5-2: Aerial view of the site displaying the vegetation...... 30

Figure 5-3: Property access...... 32

Figure 5-4: Temperature and precipitation for the Sakami region...... 33

Figure 5-5: Temperature data for the Sakami region...... 34

Figure 5-6: Precipitation data for the Sakami region...... 34

Figure 7-1: Location of the Sakami Property with regional geology and local sectors...... 47

Figure 7-2: Geology and gold occurrences in the La Pointe sector...... 50

Figure 7-3: View of La Pointe zones at depth ...... 51

Figure 7-4: Interpretation of mineralized bodies, looking down perpendicular to the contact between the Yasinski group and the Laguiche group ...... 52

Figure 7-5: Surface projection of Zone 25 showing approximate strike length with associated 3D geological model ...... 54

Figure 7-6: Relationship of Au versus As in grab samples of Zone 25 (Fleury, 2016)...... 55

Figure 7-7: Amphibolitised mafic volcanics S1 folded by S2...... 58

Figure 7-8: Felsic dyke with axial planes parallel to main schistosity...... 58

Figure 7-9: Geology and gold occurrences of the JR sector and 43 and 9.6 showings...... 62

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page x

Figure 7-10: Geology of the 43 showing (adapted and modified from GM 62497)...... 64

Figure 7-11: Geology of the Île sector...... 65

Figure 8-1: The two principal types of iron-formation-hosted gold deposits (from Kerswill, 1996)...... 71

Figure 8-2: Inferred crustal levels of gold deposition showing the different types of lode gold deposits and the inferred deposit clan (from Dubé et al., 2001; Poulsen et al., 2000)...... 73

Figure 8-3: Schematic diagram illustrating the setting of greenstone-hosted quartz-carbonate vein deposit (from Poulsen et al., 2000, pg29) ...... 74

Figure 8-4: Regional geology map of the Baie James area showing the various showings and exploration projects that border the tectonic contact between the La Grande and Opinaca Subprovinces...... 75

Figure 8-5: Regional geological map of the Roberto gold deposit. Equal area nets show the distribution of lineation and S2 foliation measurements for the La Grande (LG) and Opinaca (Op) subprovince...... 77

Figure 8-6: Schematic cross-section shows the distribution of mineralization with respect to layering and axial plane of fault (Ostry and Halden, 1995)...... 78

Figure 9-1: Topographic map showing samples collected from surface (a few from shallow drilling) that show the distribution of anomalous gold grade...... 82

Figure 9-2: 2015 channel samples taken on the Peninsule showing...... 83

Figure 9-3: Geochemical soil sampling Au anomalies Peninsule showing...... 85

Figure 9-4: Geochemical soil sampling Au anomalies JR showing...... 86

Figure 9-5 Geochemical soil sampling Au anomalies Île showing...... 87

Figure 9-6: Peninsule sector Fraser filtered in-phase component and geophysical interpretation...... 89

Figure 9-7: JR West Fraser filtered in-phase component and geophysical interpretation...... 90

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page xi

Figure 9-8: Île Fraser filtered in-phase component and geophysical interpretation...... 91

Figure 9-9: La Pointe Fraser filtered in-phase component and geophysical interpretation...... 92

Figure 9-10: Peninsule camp...... 93

Figure 9-11: Part of a channel sample (R5) from the Simon showing. This particular sample shows a 20.8 g/t Au value...... 94

Figure 9-12: 2016 mapping of the Simon showing...... 96

Figure 9-13: 2016 grab sample of the Kalmia showing...... 97

Figure 9-14: Altered basalt in contact with iron formation, Bouleau d’Or showing...... 98

Figure 10-1: 2015 drilling on the La Pointe sector...... 100

Figure 10-2: Location of select 2015 significant results La Pointe sector...... 101

Figure 10-3: Location of select 2016 significant results...... 103

Figure 10-4: Location of 2017 drill holes ...... 106

Figure 12-1: View looking west of drill pads PT-16-96 and PT-16-99 on the La Pointe sector. 111

Figure 23-1 Sakami's adjacent Properties ...... 115

Figure 23-2: Sphinx Resources Interpreted Gold Trend...... 117

Figure 25-1 Interpretation of the deposit...... 119

Figure 25-2: Interpretation of the deposit shape based on the highest grades ...... 120

Figure 26-1 2018 Planned drill holes ...... 122

Figure 26-2 Area for stripping and mapping around showing #9 and #43 ...... 126

Figure 26-3 New exploration Areas ...... 127

Figure 26-4:Regional map showing geology and recommendation works ...... 128

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 1

1. Executive Summary

Notice to readers

This technical report is only dedicated to orogenic gold deposit exploration. Potential for Cu-(Ni- PGM) magmatic mineralization or tungsten mineralization and other geological or mineralization models described by previous operators and documented in various government assessment file reports covering Matamec’s Sakami West prospect area are not covered.

1.1 Introduction

SGS Canada Inc.’s Geostat consulting Group (“SGS”) has been retained by Matamec Explorations Inc. (“Matamec”) and Canada Strategic Metal (CSM) to prepare an independent NI 43-101 compliant Technical Report on the Sakami property (“the Property”), located near the town of Radisson in the James Bay area of Québec, Canada.

This technical report presents an up to date summary of the geological and drilling programs carried out on the Sakami property since the publication of the 2016 NI 43-101 geological report from Canadian Strategic Metals (“CSM”), specifically the recent exploration and drilling campaign completed in early – mid 2017. The effective date of this SGS report is October 31st, 2017, which is the reception date of the last analytical results from the 2017 drill campaign.

1.2 Property Location and Description

The Sakami Property (“Sakami”) consists of a block of 213 contiguous mineral claims totalling 10,737 hectares consisting of several peninsulas and islands in the center of Sakami Lake. Sakami is a joint venture (50%/50%) project between Matamec Explorations Inc. (“Matamec”) and Canadian Strategic Metals (“CSM”). Beginning February 14, 2017, CSM will have an option to acquire an additional 20% (totalling 70%) by completing an independent bankable feasibility study within five (5) years.

For the purpose of this technical report, the property is subdivided in two main sections: Sakami- East, which consists of 120 contiguous mineral claims of the agreement signed by CSM and Matamec on August 16, 2013 and Sakami-West, which consists of 81 contiguous mineral claims of the agreement signed by CSM and Matamec on August 16, 2016.The town of Radisson in the

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 2

James Bay region of Quebec is the closest infrastructure, located 130 km northwest of the Property with Matagami, located approximately 600 km to the south.

On August 16th, 2013, Matamec and CSM entered into an option agreement where CSM could acquire an interest of up to 70% in the Sakami project. CSM acquired a 50% interest after having issued a total of 2,000,000 common shares to Matamec and completing $2,250,000 CAD of exploration work before August 16th, 2016. CSM satisfied the terms of the 50% option agreement of 2013, acquired its 50% interest and exercised its 180 days option period to acquire an additional 20% interest in the Sakami Property. Both parties entered into a full joint venture agreement on August 16th, 2016 whereby a total of 81 contiguous claims were added to the existing Property upon the exercise of the additional 20% interest began in 2016.

On February 14, 2017 within the 180 days period, CSM has exercised the option to acquire an additional 20% interest in the Sakami property. To do so, CSM has issued 1,000,000 common shares to Matamec and will now need to complete an independent bankable feasibility study within five years. Until the feasibility study is completed, CSM must spend a minimum of CDN$2,000,000 per year on exploration works on the property. CSM will remain the operator of the exploration works during the option period, supervised by a management committee comprising two representatives of CSM and two representatives of Matamec (Reference is made in Matamec press release dated February 14, 2017).

As of July 31, 2017, CSM have currently spent C$730,000 on the property.

The Property is subject to a 1% Net Smelter Return royalty on certain claims of the previous Sakami property (Agreement signed on September 7, 1999).

Following the addition of 73 claims owned by CSM included in the 5 kilometres perimeter when CSM exercised its 50% option on August 16th, 2016, the property is now subject to a 2% Net Smelter Return royalty on all the new 93 claims. The JV partners has a right to buyback half of the Royalty (1%) against a C$1,000,000 cash payment to the owner (Agreement signed on September 28, 2007).

1.3 Geology and Mineralization

The Sakami property is located within the central part of the Superior Geological Province, which comprises four Sub-provinces: from north to south they are the La Grande, Opinaca, Nemiscau

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 3 and Opatica. Stratigraphy of the immediate area of Sakami Lake was well described by Goutier et al. (2000) and by Gauthier-Paquette (1997).

The Sakami Property straddles the contact of the Opinaca and La Grande Subprovinces which offer a variety of lithologic settings in which to host various mineral deposits types. Several mineralized areas hosting variable gold grades are known to exist throughout the Property and have been the focus of exploration work.

The focus of recent work has been the La Pointe, JR, Peninsule, and Île sectors. Recent drilling has focused on the La Pointe sector in which gold occurs at the subprovinces contact in association with ideal structural deformation. Gold mineralization within the La Pointe Zone 25 area occupies the western portion of a high strain zone (i.e. Sakami Fault) Gold mineralization within Zone 25 occupies the western portion of a high strain zone (i.e. Sakami Fault) that has a drilled strike length of 700m whereby the thickest part of the zone is approx. 21 m. The exposed portion of Zone 25 on surface is approx. 150m in length.

The JR sector consists mainly of Yasinski group basalts from the La Grande Subprovince, which contact the detrital sediments of the Laguiche Group (Opinaca Subprovince) in the east; this contact continues to be the focus of exploration work on JR.

The Peninsule sector is located approximately 1.5 km northeast of La Pointe and is almost entirely within the Laguiche sedimentary basin. There are numerous outcrops of greywacke, paragneiss, pegmatite, and a single outcrop of basalt to the northwest. Gold showings in this area are associated with quartz-pyrite veinlets.

The Île showing could be a northeastern extension of the JR showing, 2.5 km to the east- northeast. It is located north of the Duncan antiform which is separated from the major ENE fault zone located in the Sakami Lake channel. The southern area of this sector hosts a faulted fold that juxtaposes basalts, tonalities, and quartz-sericite schists with feldspathic wackes (SIGEOM) or paragneiss. Gold is hosted in a deformed basalt band; a local grab sample of paragneiss from outcrop bearing 5-6% pyrite and pyrrhotite assayed 5.17 g/t Au.

1.4 Historical Exploration Work

Exploration work within and surrounding Matamec’s current property area has taken place since the late 1950’s whereby geological, geochemical, geophysical and other exploration work programs were completed within and around the Sakami property area which were compiled in a

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 4 geological map and a report on the Sakami area issued by the Geological Survey of Canada in 1957.

From 1956 to 2007, numerous exploration programs executed by several major and junior exploration companies took place in the area. The various exploration work programs consisted of airborne magnetic and electromagnetic surveys, geological, geochemical and ground geophysical programs, and diamond drilling.

Matamec initially acquired its initial Sakami Property claims in 1998 whereby several gold showings within four (4) separate zones (A, B, C, D) were discovered by Matamec on the western shore of Sakami Lake. The new gold mineralization discovered by Matamec went unnoticed despite the abundance of outcrop exposure. This discovery was the starting point for the exploration programs carried out by Matamec since acquiring the claims surrounding these gold showings in 1999.

During the summer of 1999, outcrops hosting the newly discovered gold showings were stripped and cleaned (manually, followed by pressure washing). The stripped outcrop surfaces were then sampled by taking grab samples at predetermined spots and according to a systematic grid (GM 59247). A total of 31 grab samples were collected (Zone A – 14, Zone B – 8, Zone C – 10, Zone D – 1) whereby the gold grades obtained range from:

Zone A: 1.13 g/tAu to 9.20g/tAu

Zone B : 1.08 g/tAu to 12.07 g/tAu

Zone C : 1.03 g/tAu to 18.86 g/tAu

Zone D : 1.90g/tAu

In March 2000, a ground magnetic survey was carried out on the Sakami property (GM 58648).

The assay results from the 1999 program permitted to justify a second and more systematic channel sampling program in 2000, whereby samples were collected perpendicular to the structure, all along the Sakami Lake shoreline. It was this exploration campaign that located gold mineralization in Zone 26, Zone 25, Zone 24, and Zone 23, from west to east. This more representative channel sampling campaign returned the following results:

• Zone 23: 1.87 g/t Au over 9.70 metres (channel sampling)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 5

• Zone 25: 1.72 g/t Au over 20.80 metres (channel sampling)

• Zone 26: 2.09 g/t Au over 10.00 metres (channel sampling)

In the fall of 2000, Steffen, Robertson and Kirsten Consulting (Canada) Inc. (SRK) was retained by Matamec to complete a structural and metallogenic study (Couture, 2001b) on the gold showings (Zones 23 to 26) discovered on the Sakami Lake property.

During the winter of 2001, an initial diamond drilling program consisting of fourteen (14) diamond drill holes (EX-1 to EX-14), was carried out from the frozen lake surface (Beauregard, 2001). These diamond drill holes outlined gold mineralization extensions laterally and vertically within the Zones 23-26 area. The best gold mineralized intersection was 2.95 g/t Au over 43.00 metres (EX-10). During the same period, a line-cutting program followed by ground magnetic and I. P. surveys, was executed on the southwest part of the Property (Boileau, 2001). During the summer of 2001, geological mapping and sampling programs were executed, as well as a revision and verification of the diamond drill holes logs completed in early 2001. The sampling program resulted in two (2) new gold showings (the J.R. showing with 5.50 g/t Au over 0.5 metre and the Kalmia showing with a chip sample returning a value of 3.80 g/t Au over 4.50m. An extensive channel sampling program was completed over the best stripped areas consisting of 27 channels totalling 266 samples over Zones 23 to 26 (Beauregard, 2001). The best results include:

• Zone 23: 2.31 g/t Au over 4.00 metres (channel sampling)

• Zone 25: 2.00 g/t Au over 7.50 metres (channel sampling)

• Zone 26: 3.84 g/t Au over 4.50 metres (channel sampling)

During fall of 2001, thirteen (13) diamond drill holes (EX-15 to EX-27) were drilled on the La Pointe showing (sector) to better understand and test the strike and dip extensions of the gold mineralization found within Zones 25 and 26 (McLaughlin, 2002). The best result obtained from this drilling program was 9.22 g/t Au over 12.55 metres from drill hole EX-19. Tourigny (2001) was contracted by Matamec to do a detailed structural mapping and structural analysis of the gold showings (Zones 23 to 26).

Another drilling campaign was completed during winter of 2002, totaling seventeen (17) diamond drill holes (EX 28 - Ex-44). Among these 17 diamond drill holes, four (4) were drilled in the Peninsule sector (GM 60822 and GM 60823); five (5) were drilled in the JR sector (GM 60822 and GM 60823); and eight (8) were drilled in the La Pointe sector (McLaughlin, 2002). The best

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 6 result obtained was 3.63 g/t Au over 15.75 m from drill hole EX-31 located on the La Pointe sector. During the same period, various programs of line-cutting, magnetic and I. P. surveys (GM 59593 and GM 59601), as well as geological reconnaissance and prospecting work were carried out in the Peninsule, JR (GM 60822 and GM 60046), Île and Sapinakaw sectors (GM 60046). Towards the fall of 2002, a short drill program consisting of six (6) holes was carried out, of which three (3) were in Zone 25, two (2) in Zone 26 and one (1) in Zone 23 (Lavallée, 2002). The best result obtained was 2.69 g/t Au over 3.00 metres from drill hole EX-49.

In June of 2003, a short exploration campaign was completed by Matamec in the JR sector. Stripping, cleaning and sampling were performed near the JR and 9.6 showings, and magnetic- I.P. anomalies were followed up where physiographically permitted. In the Île and Sapinakaw sectors, prospecting, stripping and sampling were also completed during the same period (Beauregard and Gaudreault, 2003).

From February to March 2004, Matamec completed a diamond drill program in the La Pointe sector and a stripping program in the JR sector (GM 61190). Three (3) diamond drill holes were drilled to test two (2) I.P anomalies detected from the Boileau (2001) geophysical survey work. Three (3) diamond drill holes were completed in the extensions of Zone 25 (GM 61190). In the same period, stripping work was done on both the 43 and 9.6 showings. In July of 2004, cleaning and channel sampling was completed on these stripped zones. During the summer of 2004, humus soil samples were collected with the objective to verify the geochemical response in the 43 and 9.6 showings (GM 62497). The goal was to identify any pattern of gold indicator elements, especially arsenic that may be coincident with gold mineralization. In Sept. 2004, prospecting and sampling were carried out in the Sapinakaw sector (GM 61634) and seven (7) diamond drilling holes were completed in the 9.6 and 43 showings sector (GM 62497). In 2005, a short mineralogical examination of till samples from the Sakami property was performed by Charbonneau (2005).

A brief prospecting and channel sampling program on the JR showing was completed in fall of 2013. A total of seventy-three (73) grab samples and nineteen (19) channel samples were collected on outcrops of the 9.6 and 43 showings and 189 samples were sent for gold assay at Laboratoire d’Analyse Bourlamaque Ltée in Val d’Or.

Between December 2013 and April 2014, CSM completed a drill campaign on the La Pointe sector which consisted of twenty (20) diamond drill holes totalling 4,464 m. The drilling program was designed to test the extent of gold mineralization at Zone 25. A total of 1,535 core samples were collected and sent to Laboratoire d’Analyse Bourlamaque Ltée in Val d’Or. Table 6-1 presents the

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 7 significant gold intersections of the 2013-2014 drill campaign for which a new interpreted gold zone (Zone 22) was identified to occur within Zone 25. Grab samples locally returned gold grades >10 g/t Au on the JR and 43 showings; channel sample results returned gold grades of up to 9.34 g/t Au but overall the sample grades for the channel were anomalous but variable in gold grades.

Table1: 2013 – 2014 significant drilling intercepts.

Length* Hole ID From (m) To (m) Gold g/t Zone (m) PT-13-64 68.85 69.9 1.05 1.27 No Assigned Zone PT-13-64 171 171.5 0.5 3.62 No Assigned Zone PT-13-65 112.5 138 25.5 3.03 Zone 25 Including 126 138 12 4.00 Zone 25 PT-13-66 109.95 125.4 15.45 1.18 Zone 25 PT-13-67 126.9 154.85 27.95 3.78 Zone 25 Including 132.25 154.85 22.6 4.01 Zone 25 Including 138 145 7 7.21 Zone 25 PT-13-68 200.5 221 20.5 2.77 Zone 25 Including 201.65 215 13.35 3.23 Zone 25 Including 201.65 205 3.35 4.71 Zone 25 278.25 281.1 2.85 2.82 Zone 22 294 297 3 1.70 No Assigned Zone PT-13-69 213.05 226.5 13.45 1.32 Zone 25 PT-13-70 78.75 99 20.25 1.27 Zone 25 Including 78.75 86 7.25 2.22 Zone 25 PT-13-71 49.1 51.65 2.55 2.06 No assigned Zone 102 121.5 19.5 2.97 Zone 25 Including 107.4 121.5 14.1 3.78 Zone 25 Including 112 121.5 9.5 3.95 Zone 25 PT-13-72 112.5 130.4 17.9 2.24 Zone 25 Including 112.5 119 6.5 3.65 Zone 25 PT-14-73 150.65 172.5 21.85 1.46 Zone 25 Including 160.5 172.5 12 2.16 Zone 25 PT-14-74 237.65 264 26.35 2.30 Zone 25 Including 243.7 252.5 8.8 3.80 Zone 25 Including 247.7 252.5 4.8 5.18 Zone 25 PT-14-75 274.05 281.2 7.15 2.40 Zone 25 PT-14-76 180 183 3 1.57 Zone 25

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 8

Length* Hole ID From (m) To (m) Gold g/t Zone (m) 198 199.5 1.5 1.36 No Assigned Zone PT-14-77 103.5 104.7 1.2 1.33 No Assigned Zone 129 130.5 1.5 1.98 Zone 25 153 154.5 1.5 1.00 No Assigned Zone 165 168 3 1.65 No Assigned Zone 174 176 2 1.46 Zone 22 180 182.25 2.25 2.02 Zone 22 PT-14-78 193.5 195 1.5 1.37 No Assigned Zone 208.5 213 4.5 2.15 Zone 25 Zone 25/Zone 22 PT-14-79 188 236.2 48.2 2.51 merge Including 188 200 12 6.93 Zone 25 Including 190 196 6 11.35 Zone 25 Including 202.5 207 4.5 1.33 No Assigned Zone Including 226.5 234 7.5 3.06 Zone 22 PT-14-80 157.5 163.5 6 1.03 Zone 25 179 181.75 2.75 2.08 No Assigned Zone 187.5 190.5 3 2.32 No Assigned Zone 201 202 1 1.28 Zone 22 203 204 1 3.11 Zone 22 PT-14-81 228 232.6 4.6 2.58 Zone 25 Zone 25/Zone 22 PT-14-82 231.45 271.7 40.25 1.43 merge Including 231.45 235.5 4.05 5.12 Zone 25 Including 231.45 240 8.55 3.58 Zone 25 Including 256.85 259 2.15 3.83 Zone 22 Including 267.5 271.7 4.2 2.38 No Assigned Zone Zone 25/Zone 22 PT-14-83 240 295.5 55.5 1.06 merge Including 240 252 12 3.54 Zone 25 *core length; true width of mineralized zone is estimated at 60 to 85% of the core length

Exploration work by Matamec since 2013

A combined magnetic and VLF-EM ground survey was completed on the Sakami sectors of JR West, Île, and La Pointe from June to August of 2016. The purpose of the geophysical survey was to assist in understanding the sub-surface geology based on the magnetic and VLF-EM response, and to outline potential mineralization targets.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 9

A prospecting and mapping program was also completed, focusing on the Peninsule, Île, JR, and JR West sectors. A channel sample program totaling five hundred and one (501) samples and one hundred sixty-eight metres and 50 centimetres (168.5 m) was completed. The channel samples were taken in areas where previous samples analysed for gold to reproduce the values and evaluate the continuity. Samples were submitted to ALS Val d’Or for analysis.

A total of nine (9) NQ diamond drill holes were completed on the La Pointe sector between June and July of 2016. The total meterage drilled was two thousand and fifty-eight metres (2,058 m) and six hundred and fifty-nine (659) core samples were submitted to ALS Val d’Or for analysis. Significant results include 2.34 g/t Au over 38.8 m in drill hole PT-16-91, and 4.94 g/t Au over 21.05 m in drill hole PT-16-92, and 1.87 g/t Au over 27 m in drill hole PT-16-93 (including 2.60 g/t Au over 7 m and 2.04 g/t Au over 14 m).

In early 2017, 2,925m of core drilling was completed on Zones 22, 26 and 25 as the main target by CSM. The longest hole (PT-17-105) was 597m long but was cut short since the drill rig was not capable of drilling deeper. During this campaign, the most significant results obtained were 1.02 g/t Au over 12m (including 2.07g/t Au over 3m) in hole PT-17-100, 1.96g/t Au over 28.7m (including 4.11g/t Au over 7.9m) in hole PT-17-101, 1.7 g/t Au over 30m (including 4.26 g/t Au over 4.5m) in hole PT-17-102, 3.82 g/t Au over 3m in hole PT-17-104A, 0.73 g/t Au over 6 m in hole PT-17-105 (and 1.17 g/t Au over 10.5m in hole PT-17-106.

1.5 Interpretations Conclusions and Recommendations

The Sakami project is considered to have considerable potential to host economic gold mineralization and requires a significant drill program to refine the key areas and to extend the known mineralization. Specifically, additional drilling is required to evaluate the extent of Zone 23, 25, 26 and Zone 22 at depth and to better understand their potential interrelationship both geological and structural. Preliminary 3D geological interpretation work by SGS suggests that the gold mineralization at the La Pointe Area is possibly both stratigraphically and structurally controlled whereby the geology and deposit may be interpreted as a steeply dipping overturned isoclinal fold (Figures 25-1 and 25-2). The potential of this zone is highlighted by the eastern most intersections on this zone which include 4.94g/t Au over 21.05m and 3.46g/t Au over 11.5m (refer to Figure 25-1).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 10 potential. The drilling should be undertaken in late January or late February to enable transportation and drilling over the frozen lakes.

With the drilling phases completed previous to 2017 on Zones 22 and 25, most of the geological units encountered were paragneiss and granodiorite. The gold mineralization seems to be associated / hosted in the paragneiss along the contact with the granodiorite. During the 2017 drilling program, drill holes were mainly drilled in both felsic intrusive rocks, and in mafic intrusive rocks, in which no interesting gold values were intercepted. These holes were drilled towards north to intercept the continuity of the plan where the gold is present, but new lithologies were intercepted instead.

Because the deposit seems tightly folded and the limbs are close to each other, future drill holes should target the contact between the granodiorite and the paragneiss They should be planned in such a way to cross-cut the interpreted fold limbs perpendicularly. The proposed drill campaign is divided in two parts: to defining the upward extension beneath the lake and testing the down dip / plunge extension of the zone.

1.6 Recommendations

Based on the available technical data and previous exploration history, it is SGS’s opinion that the Sakami Property warrants additional work and that SGS concurs with the exploration work program considered by Matamec and CSM. The proposed 2018 exploration program is described below and the purpose is to be in a position to prepare a maiden NI 43-101 compliant mineral resource estimate for the La Pointe Zone Sakami project:

The rest of the Sakami property has been divided in four different exploration sectors (Sakami West, Sakami South, Peninsule and JR sector). Recommendations will be specific for each of these sectors.

Diamond Drilling on the LaPointe Area:

SGS recommends that a minimum 14,800m of diamond drilling be carried out on the La Pointe Sector Zones 25, 23, and Zone 22 to test both the up dip (approx. 4,875m) (below the lake) and down-dip extension (9,940m) of the known gold mineralized units. This drilling campaign will be undertaken from the existing camp using three drill rigs. SGS assumes that the drilling program can be completed within 40-50 days based on an average drilled meter of approx. 110m per day.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 11

Many of the proposed drill holes collars are located on land but 15 holes will be required to be drilled from the lake in the winter time. Because the water level of the lake may vary, some planned holes in the vicinity of the lake’s shoreline may be on or off of the lake. Planned drill holes that need or may need to be drilled on the frozen lake are all designed to define the up dip extension of the known mineralized zones.

Based on the favourable 2018 drilling results, a second phase of in fill drilling is proposed by Matamec to define Indicated – Measured mineral resources as well as determine the depth extent of the known zones. Approximately 15,000m of drilling is proposed for this program.

Diamond Drilling Re-sampling Program

Upon review of the current Sakami drill hole database, SGS has noted that several historical drill holes were not thoroughly sampled; especially where both hanging and footwall sections to gold mineralized intervals were not sampled but do contain sulphides and/or quartz veining or where sections of drill core were sampled at various intervals, thus leaving gaps of drill core not sampled. It is recommended that approximately 775m of core should be resampled and analysed to fill the gaps that could contain anomalous gold values.

Geological and Structural Re-interpretation

SGS recommends that a review of the current geological / structural model be completed for the property in order to better understand both the geology and structural controls on the gold mineralization styles which could lead to redefining known target areas as well as define new targets on the property for follow up exploration work. Upon the completion of the 2018 Winter Phase 1 2018 drilling program, the new data available will allow Matamec to complete a reliable re-interpretation of the geological model of the La Pointe sector.

MMI Soil Geochemistry

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 12 accurately locate deep mineral deposits. Benefits from MMI are among others, a possibility to distinguish focused and sharp anomalies and a good method to detect deeply buried mineralization.

Because this method analyses metal ions that travel upward and has a very low detection limits, precise results directly from the location of the sample are returned.

The optimal sampling grid to detect vein gold mineralization would be 100m x 20m as recommended by the Sampling grids for MMI by SGS Minerals. However, more distanced samples would be sufficient to determine the footprint of the deposit. SGS recommends a 50m x 100m grid. If needed, another campaign with a tighter grid could be planned to delineate area where anomalies were detected.

Four distinct MMI campaigns are planned on the four different sectors (Sakami West, Sakami South, Peninsule and JR sector)

Stripping and detailed mapping

Considering the interesting gold results from the outcrop sampling on both the #9 showing and #43 on the JR sector, a better understanding of the immediate geology would help define new drilling targets. SGS recommends improving the geological knowledge of the area by mapping and completing and sampling several small outcrop strippings. SGS also proposes to conduct a stripping program for the #43 showing. Historical drill holes completed in both areas returned assays of more than 3ppm over 0.8m.

On the South, West and Peninsule areas, stripping and detailed mapping and sampling will be executed where needed.

New Exploration Areas – Sakami West and South

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 13 mineralized showings may also occur within Matamec’s property, SGS recommends that an initial reconnaissance prospecting and sampling program be carried in order to assess the potential for gold mineralization in the Sakami West area.

South of Zone 25m lies a contact between tonalite, paragneiss and amphibolite units. This area (Sakami South) is the contact between the sub-province of Opinaca and the sub province of La Grande. SGS recommends that an initial reconnaissance prospecting, MMI campaign and sampling program be carried in order to assess the potential for gold mineralization in the Sakami south area.

Agreement with community

SGS also recommends for Matamec to consider implementing discussions on a pre-development agreement with the local Cree community to maintain positive relations. Consistent and transparent consultations with all the stakeholders can have a significant impact on the probability of obtaining the required social license and permits for an eventual mining operation.

2018 Exploration Budget

It is expected that the recommended 2018 Winter – Spring work program would be completed by Matamec within a 3 month time frame and a budget of approximately $2,900,000 is estimated for the work program.

The estimated cost for completing the Summer – Fall 2018 prospect areas exploration programs is approx $965,000.

The estimated cost for completing the proposed Fall – Winter 2018 drilling programs for the prospect areas is approx $2.580,000.

Table 2 below summarizes the cost estimate for the proposed 2018 Winter and Summer exploration and drilling programs.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 14

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 15

Based on the favourable results obtained from the prospect exploration program as well as from the La Pointe Area, Matamec recommends completing a second phase of in fill drilling on the La Pointe Sector Area as well as the exploration target areas. Table 3 summarizes the cost estimate for the proposed 2018 Fall drilling programs.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 16

2. Introduction

2.1 General

SGS Canada Inc.’s Geostat consulting Group (“SGS”) has been retained by Matamec Explorations Inc. (“Matamec”) and Canada Strategic Metals (CSM) to prepare an independent NI 43-101 compliant Technical Report on the Sakami property (“the Property”), located near the town of Radisson in the James Bay area of Québec, Canada. This technical report follows the reporting requirements outlined in the Canadian National Instrument 43-101, Standards for Disclosure of Mineral Projects (“NI 43-101”), companion policy NI 43101CP, and Form 43-101F, and was prepared at the request of Matamec and CSM , two publicly listed companies trading on the TSXV Exchange respectively under the symbol “MAT” and “CJC”, with their head offices located at:

Matamec 1010 Sherbrooke Ouest, suite 1604 Montreal, Quebec Canada H3A 2R7 (t) 514-844-5252 Website: www.matamec.com

Canada Strategic Metals 1080, Côte du Beaver Hall Suite 2101 Montreal, Quebec H2Z 1S8 Phone: 514 904-1496 Website: www.csmetals.ca

2.2 Terms of Reference

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 17

The effective date of this report is November 10, 2017. SGS understands that the Company will use the Report internally for decision-making purposes and publicly in support of reporting obligations and possible corporate financing activities related to the Project.

This report was prepared and co-authored by Messrs. Olivier Vadnais-Leblanc, géo, Project Geologist, Claude Bisaillon, ing. Project Engineer, and Daniel Leroux, P.Geo., géo, Business Manager and Senior Geologist; all with SGS Geostat and Qualified Persons (“QP”) under the regulations of NI 43-101.

Matamec and CSM has accepted that the qualifications, expertise, experience, competence and professional reputation of SGS Geostat’s geologists are appropriate and relevant for the preparation of this report. Matamec and CSM has also accepted that SGS Geostat’s geologists are members of professional bodies that are appropriate and relevant for the preparation of this report.

Information in this report is based on a critical review of the documents and information provided mostly by André Gauthier, General Manager of Matamec and Jean-François Meilleur, CEO and President of CSM. A complete list of the reports made available to the authors is found in the references section of this technical report.

2.3 Currency, Units, Abbreviations and Definitions

All units of measurement referenced in this report are metric unless otherwise stated, and currency is expressed in Canadian dollars, $CAD.

2.4 Disclaimer

This document is issued by SGS Canada Inc. under its General Conditions of Service accessible at http://www.sgs.com/terms_and_conditions.htm. Attention is drawn to the limitation of liability, indemnification and jurisdiction issues defined therein. Any holder of this document is advised that information contained herein reflects the Company’s findings at the time of its intervention only and within the limits of the Client’s instructions, if any. The Company’s sole responsibility is to its Client and this document does not exonerate parties to a transaction from exercising their rights and obligations under the transaction documents. Any unauthorized alteration, forgery or falsification of the content or appearance of this document is unlawful and offenders may be prosecuted to the full extent of the law.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 18

2.5 Site Visits

A site visit was conducted by Claude Bisaillon, ing. SGS Project Engineer, on July 29th, 2016. The purpose of the site visit was to evaluate the progress of the 2016 campaign, review of the drill core for geological modelling purposes, conduct audits and discuss future plans with Matamec and CSM. The 2016 drill campaign conducted on the La Pointe sector had recently finished and no independent check samples were taken. Amanda Landriault, géo, formerly of SGS Geostat, also visited the site in Spring 2017 to check on the work progress.

In 2017, a follow-up diamond drilling campaign was completed by Matamec’s joint venture partner CSM, however, no follow up site visit has been carried out by SGS Geostat since this technical report will not be disclosing a Mineral Resource Estimate. It is intended that a future site visit will be carried out by SGS Geostat during the proposed Matamec – CSM diamond drilling campaign for 2018.

2.6 Sources of Information

In preparing this report, SGS reviewed geological reports and maps, miscellaneous technical papers, company letters and memoranda, and other public and private information as listed in Section 27 “References” at the conclusion of this report. SGS has assumed that all the information and technical documents reviewed and listed in the “References” are accurate and complete in all material aspects. While SGS carefully reviewed all this information, it has not conducted an independent investigation to verify its accuracy and completeness.

In addition, SGS carried out discussions with the local management, consultants and technical personnel of Matamec, in particular, André Gauthier – General Manager, and CSM’s geologists Kathleen Boucher, and Jean-Sébastien Lavallée.

Although copies of the licences, permits and work contracts were reviewed, SGS has not verified the legality of any underlying agreement(s) that may exist concerning the licences or other agreement(s) between third parties. SGS reserves the right, but will not be obligated to revise this Report and conclusions if additional information becomes known to SGS subsequent to the date of this Report.

Matamec and CSM have accepted that the qualifications, expertise, experience, competence and professional reputation of SGS Geostat's Geologists are appropriate and relevant for the preparation of this report. The Company has also accepted that SGS Geostat’s Geologists are

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 19 members of professional bodies that are appropriate and relevant for the preparation of this report.

Matamec and CSM have warranted that full disclosure of all material information in its possession or control at the time of writing has been made to SGS Geostat, and that it is complete, accurate, true and not misleading. The Company has also provided SGS Geostat with an indemnity in relation to the information provided by it, since SGS Geostat has relied on Matamec and CSM's information while preparing this report. The Companies have agreed that neither it nor its associates or affiliates will make any claim against SGS Geostat to recover any loss or damage suffered as a result of SGS Geostat’s reliance upon that information in the preparation of this report. Matamec and CSM have also indemnified SGS Geostat against any claim arising out of the assignment to prepare this report, except where the claim arises out of any proven willful misconduct or negligence on the part of SGS Geostat. This indemnity is also applied to any consequential extension of work through queries, questions, public hearings or additional work required arising out of the engagement.

All geological information for the 2017 drilling program was provided to Matamec and CSM by CSM/ConsulTeck and was reviewed by the co-authors of this report as well as former SGS Geostat employees (Guy Desharnais, géo, Amanda Landriault, géo) who were previously engaged to carry out the work on behalf of Matamec -CSM.

3. Reliance on Other Experts

SGS has relied heavily upon several internal reports as provided by Matamec and CSM for the compilation of this report. SGS also communicated with Jean-Philippe Fleury who is completing his Masters degree on the Sakami property through the University of Laval; he provided property geology related details. GIS data files were provided to SGS by InnovExplo through communication with CSM. Additionally, ecological, physiographic and climate information was taken from ecozones.ca and Environment Canada. References are listed in Item 27.

A draft copy of this report has been reviewed for factual errors by Matamec and CSM and SGS Geostat has relied on Matamec and CSM’s historical and current knowledge of the property in this regard. Any statements and opinions expressed in this document are given in good faith and in the belief that such statements and opinions are not false and misleading at the date of this report.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 20

3.1 Mineral Tenure

SGS has relied upon the following documents obtained by way of the Government of Québec’s mineral claims database obtained by Matamec and CSM for the information included in Section 4.0 of this report as of November 1, 2017.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 21

4. Property Description and Location

For the purpose of this technical report, the property is subdivided in two main sections: Sakami- East, which consists of 120 contiguous mineral claims of the agreement signed by CSM and Matamec on August 16, 2013 and Sakami-West, which consists of 93 contiguous mineral claims of the agreement signed by CSM and Matamec on August 16, 2016. (Figure 4-1).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 22

Figure 4-1 Agreement between Matamec Explorations Inc. and Canada Strategic Metals

1- In red, the 120 claim cells of the Sakami Property at of August 16, 2013, at the signature of the agreement between Matamec Explorations Inc. And Canada Strategic Metals.

2- In brown, the 93 additional claim cells titles acquired since August 16, 2013 located within a radius of 5 km and now part of the Sakami property.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 23

4.1 Location

The Property is situated at UTM coordinates 375,000 m easting, 5,900,000 m northing in zone 18 (using the NAD83 projection), in the James Bay Region of Quebec near Radisson (Figure 4-2). The town of Radisson is the closest infrastructure, located 130 km northwest of the Property with Matagami, located approximately 600 km to the south.

Figure 4-2 Location of Sakami Property

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 24

4.2 Ownership and Agreements

On August 16th, 2013, Matamec and CSM entered into an option agreement where CSM could acquire an interest of up to 70% in the Sakami project. CSM acquired a 50% interest after having issued a total of 2,000,000 common shares to Matamec and completing $2,250,000 CAD of exploration work before August 16th, 2016. CSM satisfied the terms of the 50% option agreement of 2013, acquired its 50% interest and exercised its 180 days option period to acquire an additional 20% interest in the Sakami Property. Both parties entered into a full joint venture agreement on August 16th, 2016 whereby a total of 93 contiguous claims were added to the existing Property upon the exercise of the additional 20% interest began in 2016.

As of July 31, 2017, CSM have currently spent C$730,000 on the property.

The Property is subject to a 1% Net Smelter Return royalty on certain claims of the previous Sakami property (Agreement signed on September 7, 1999).

Following the addition of 93 claims owned by CSM included in the 5 kilometres perimeter when CSM exercised its 50% option on August 16th, 2016, the property is now subject to a 2% Net Smelter Return royalty on 81 of the new 93 claims. The JV partners has a right to buy back half of the Royalty (1%) against a C$1,000,000 cash payment to the owner (Agreement signed on September 28, 2007) (Figure 4-3).

4.2.1 Royalties

Currently no royalties are owed, see section 4.2 for further details.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 25

Figure 4-3 Sakami Property – Claims associated with an NSR royalty

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 26

4.3 Mineral Tenure

The Sakami Property consists of 213 contiguous mineral claims totalling 10,737 hectares consisting of several peninsulas and islands in the center of Sakami Lake (Figure 4-4). As discussed above, Matamec presently holds a 50% interest in the Sakami property and CSM holds the remaining 50%.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 27

Figure 4-4 Sakami Property claims

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 28

4.4 Permits and Environmental Liabilities

SGS is not aware of any permitting issues or environmental liabilities that may affect access, title, or the right or ability to perform work on the Property.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 29

5. Accessibility, Climate, Local Resources, Infrastructure and Physiography

The Matagami-Radisson road runs 30 kilometres west of the Property and access is via a jetty at the northern end of Sakami Lake along the Trans-Taïga road located 22 km north of the northern property limit. From this point, a motorized boat can be used to access the property in the summer months (Figure 5-1).

La Grande Riviere Airport

Sakami Lake

50 km

http://www.greibj-eijbrg.com/images/Carte-Eeyou-Istchee-Baie-James-Nov2016.pdf Figure 5-1: Location of the Property and local amenities.

5.1 Physiography

The Property is in the James Bay ecoregion. This excerpt is taken from ecozones.ca, which sources Environment Canada:

“The regional ecoregion consists largely of flat, poorly drained plains with subdued fluvial and marine features. Throughout the area, there are gravelly, well-drained belts of raised beaches,

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 30 resulting from postglacial, isostatic rebound. Wetlands cover over 75% of the area in the north and around James Bay. They are composed largely of northern ribbed fens, northern plateau bogs, and palsa bogs. The soils are dominantly Organic Mesisols and Fibrisols with some Organic Cryosols. Limited areas of Dystric and Eutric Brunisolic soils occur on upland sands. Eutric Brunisols and Gleysols are associated with river levees, while clayey uplands may have Gray Luvisol soils. Sporadic, discontinuous permafrost with medium to high ice content in the north decreases to isolated patches surrounding James Bay. Mineral soil profiles exhibit uneven and often discontinuous or distorted soil horizon development as a result of past and present permafrost action. Characteristic wildlife includes barren-ground caribou, black bear, wolf, moose, lynx, and snowshoe hare. Bird species include the Canada goose, ruffed grouse, and American black duck”.

The Sakami Property consists of wetlands with patches of young conifers and scattered outcrops. Sakami Lake has an approximate elevation of 186.8 m a.s.l. (Commission de Toponymie Québec) (Figure 5-2).

Figure 5-2: Aerial view of the site displaying the vegetation.

5.2 Accessibility

Radisson is accessible year-round via the La Grande Riviere airport and the Route de la Baie- James; the road is well maintained. The Matagami-Radisson road runs 30 kilometres west of the Property and summer access is via a jetty at the northern end of Sakami Lake along the Trans-

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 31

Taïga gravel road located 22 km north of the northern property limit. From this point, a motorized boat can be used to access the Property in the summer months. Winter access is available through by mean of a limited access road off Route de la Baie James (HWY 109) (see Figure 5-3). A helicopter is based in Radisson and can be hired to transport passengers and equipment to the main camp built in the southern part of the property.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 32

Figure 5-3: Property access.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 33

5.3 Climate

The climate is characterised by cool summers and cold winters and a perhumid high boreal ecoclimate. It is an area of transition, lying between the coniferous and mixed forests of the clay belt to the south, and the tundra to the north. The following graph and tables (Figures 5-4 to 5-6) are sourced from Environment Canada for the La Grande Rivière airport, located 90 km northwest of the Property.

Work can be conducted all year round and is not limited by normal weather conditions.

Figure 5-4: Temperature and precipitation for the Sakami region.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 34

Figure 5-5: Temperature data for the Sakami region.

Figure 5-6: Precipitation data for the Sakami region.

5.4 Local Resources and Infrastructure

The town of Radisson, located in the James Bay region of Quebec is the closest town located 130 km (80 km as the crow flies) northwest of the Property. The town of Matagami is located approximately 600 km south of the property. Radisson hosts a population of approximately 500 and offers two fuel stations, a hotel, a motel, a general store and a hospital. The La Grande Rivière airport is located 30 km south of the town. Major amenities are available in Matagami including a source of skilled labor and heavy equipment.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 35

5.5 Surface Rights

The Sakami Property is in Cree territory in the Municipality of James Bay on Category III lands belonging to the Quebec government and included in the James Bay and Northern Québec Agreement. There is presently no pre-development agreement in place.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 36

6. History

The following information was sourced from several reports provided by Matamec, but mainly “Matamec Exploration Inc. – Sakami Property – 43-101 Technical Report” completed by InnovExplo on September 28th, 2007.

6.1 Prior Ownership of the Property and Ownership Changes

Geological, geochemical, geophysical and other exploration work programs were completed within and around the Sakami property area which were compiled in a geological map and a report on the Sakami area issued by the Geological Survey of Canada in 1957 (Eade et al., 1957) and in 1966 (Eade, 1966). A geological report and a map on the Sakami Lake area prepared by J. P. Mills were issued by the Quebec Department of Natural Resources in 1965 and 1973. Afterwards, J. P. Mills carried out petrological studies in the Sakami greenstone belt (Mills, 1974). Matamec acquired the Sakami claims in 1999.

6.2 Historical Mineral Exploration Work on the Sakami Property Area (1950’s – 1996)

6.2.1 1957 - 2008

The following is a chronological summary of reported assessment file exploration work filed with the Quebec Ministry of Mines that was carried out within and around the Sakami Property:

• 1957 – 1959: Geological mapping and survey at a scale of 8 miles to 1 inch was conducted by the Geological Survey of Canada. Results can be found in the work report by K.E. Eade 1966. (GM 58696) • 1958 – 1959: A.B. Baldwin made a detailed geological map of the Lac Yasinki sector where the Main Exploration Company Ltd had exploration permits; he provided details of several other showings in the region. (GM 58696) • 1959: Tyrone Mine Ltd conducted an airborne magnetic and electromagnetic survey followed by ground exploration (in 1960) which led to the discovery of new mineralized showings (both sulphide and iron formations) as described in Ekstrom 1960-1961. (GM 58696)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 37

• 1961: all the mining concessions were abolished and the territory was open for staking, which led to numerous geological and geophysical, and drilling campaigns, such as: • Lac Duncan (Baldwin, 1959-1961; Honsberger, 1956-1962; Ingham, 1 961; Vallance, 1962) • Lac Long (Honsberger, 1961; Szetu, 1962) • Lac Discovery (Bergmann, 1962; Honsberger, 1965) • Lac Sakami (Boniwell, 1965-1966) • 1964: Phelps-Dodge Corporation of Canada Ltd drilled 10 diamond drill holes in an iron formation as described in Terroux et al., 1964 (GM 58696). No results were filed. • 1965-1967 J.P Mills mapped three zones around Lac Sakami and Lac Long for the MRN of Quebec and yet again in 1973-74 and 1977 (Mills 1967, Mills 1972-1973). K.N.M Sharma did further geological mapping on a regional scale centred about the river La Grande. • 1965: St-Mary’s Exploration conducted exploration work including line cutting, MAG-EM surveys, prospecting, and drilling on the western part of the project (GM 17060, GM 17466) unfortunately no analyses remain. (GM 58004) • 1956-1966: Zulapa Mining (GM 16839, GM 17303, and GM 18241) carried out work in the central area of the property and carried out similar exploration work to St-Mary’s Exploration; they found intervals of zinc mineralization. (GM 58004). Zulapa Mining drilled 5 holes totalling 2,184 feet and intersected only minor Zn and Cu. (GM 18241) • During the 1970’s the Société de Développement de la Baie James (SDBJ) (GM 58004) was very active in the area, some of the exploration activities conducted were: • Airborne radiometric surveys (Giroux et al., 1975; Betit, 1979) • Airborne Survey Radiometric-Magnetic-EM (Wagg et al., 1975-1976) • Steam sediment geochemical survey (Lavoie, 1975) • Prospection and evaluation of mineral showings (Larose, 1975; Meillon, 1975; Dupuis, 1975-1976; Oakes, 1975-1978; Giroux, 1976; Wagg, 1976; Desjardins, 1976; Gueniot, 1977; Gueniot et al, 1977; Payette et al, 1977; Caron, 1978; Nikhanj, 1978; Séguin, 1978; Tremblay, 1978) • A survey geochemical on the lake sediments (Otis, 1976; SDBK, 1976) • Diamond Drilling (Larose, 1976; Lacombe, 1977; Gueniot, 1977; Colasurdo, 1978) • A INPUT Survey (Relevés Géophysiques Inc. et al., 1980) • Much of the work was realized in cooperation with the Groupe Minier SES such as (GM 58004): ▪ Work on the evaluation of mineralized showings (Schumacher et al, 1974; Groupe Minier SES, 1976; Séguin, 1978; Descarreaux,1988)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 38

▪ Soil Geochemistry, Stream sediment sampling and Lake Sediment sampling (Gleeson, 1975; Brown et al, 1976; Séguin, 1977) ▪ Ground geophysical surveys (Géonordex Ltée, 1977; Groupe Minier SES., 1978) ▪ Detailed geological mapping (Gauthier, 1977) ▪ Between 1971 and 1976, Canadian Nickel Co. (Canadian Nickel) (an Inco subsidiary) carried out regional and detailed geological, ground magnetic, airborne electromagnetic and airborne radiometric surveys which now overlies Matamec’s Sakami West area (GM 29067 and GM 30772). Canadian Nickel detected several radiometric anomalies, associated with the interface between sedimentary formations with ultramafic rocks. Canadian Nickel obtained, by diamond drilling, several nickel - uranium intersections (GM 29772) within Matamec’s Sakami West area. Nine (9) diamond drill holes were completed by Canadian Nickel on the Sakami property, but no significant results were reported. ▪ 1972-1975: A joint exploration campaign was conducted by Canico and the SDBJ which discovered the Apple conglomerates. (GM 58004) A total of 68 drill holes were bored for approximately 14,460m of drilling. (GM 64466) ▪ From 1973, 1975 and 1977, regional lake sediments and stream sediments samples were collected within the Sakami property area (GM 50002, GM 34040, DP 307, DPV 455, and DPV 456). In spite of the presence of uranium showings (e.g. Apple deposit) southwest of the Sakami property, no in stream and lake sediments uranium anomalies were reported. ▪ Several Québec government issued geological reports of the Sakami area were issued (Gauthier, 1996; Gauthier et al., 1997; Paquette and Gauthier, 1997) followed by the geological mapping of the SNRC 33F/02 and 33F/07 by Goutier et al., 2000. ▪ 1994: Nineteen samples taken for multi-element analyses by Gema Ribeiro Olivo for Mines Dynacor Inc. Additionally an inventory of the historic Inco core shacks was created. ▪ 1995: Mines Dynacor Inc. had conducted channel sampling and took 41 samples in total. The best results were 1.8 gpt Au over 1.75m (Doucet-Lamarche showing), 0.86% Ni over 3.4m, 0.26% Ni over 3.0m and 0.38% Cu, 0.19% Ni, 6.2 gpt Ag over 0.75m. (GM 58004) ▪ 1995: Mines Dynacor Inc also took 6 heavy mineral samples of 10 kg (horizon B glacial material) for analysis by IOS Services Géoscientifique Inc. (GM53750) ▪ 1998: The conglomerates are characterized by anomalies in As, Cu, Ni, Co, Cr, Pb and locally in Au (Paquette, 1998)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 39

▪ 1998: Mines D’Or Virginia contracted Sial Géosciences Inc to perform an Electromagnetic and Magnetic heliborne survey over the Apple deposit. A total of 1420.6 km flown, 357.1 (200m lines, 60, altitude) over Apple helped prioritize exploration targets. Apple contained numerous EM type 1 anomalies most of which are contained in a magnetic circular arc. (GM 56268) ▪ 1999: Mines D’Or Virginia Inc conducted geological mapping and sampling. Additionally, channel sampling and detailed prospecting was conducted on the Big Buck target that was identified by previous geophysics. (GM 58004) They sent 130 samples for gold Fire assay and ICP, also 15 twenty (20) kg samples were sent to Overburden Drilling Management for gold grain counting and analysis. ▪ 1999: Mines D’Or Virginia used Landsat spectral data to create a list of gossan targets to corroborate the geophysics the targets appear to be north to north east of the Apple- Sakami project. (GM 58326) ▪ 2000: Mines D’Or Virginia contracted Sial Géosciences to perform an Electromagnetic and Magnetic Heliborne survey a total of 195.4 km. The objective was to use multi- frequency EM and magnetometer to detect new economic zones, and enhance geological and structural data. Zones A – I were identified. (GM 58696 and GM 59351) ▪ 2000: Mines D’Or Virginia Inc with the assistance of Service Techniques Géonordic Inc continued their geological mapping and conducted new rock, till, and b-horizon soil sampling. Samples of 4.73 and 23.82 gpt Au were found adding new potential to the Apple sector. Additionally, 0.491 gpt Pt and 2.347 gpt Pd samples were found. 185 rock samples for the Marie-Claude project (situated far south of the apple claims) and 60 for Apple. Nine (9) lithogeochemical samples for Marie-Claude, 6 for Apple. Forty-one (41) B-horizon soil samples for Apple and 13 till samples for Marie Claude, only 1 for Apple. Till samples were sent to Overburden Drilling Management Ltd. ▪ 2001: Mines D’Or Virginia contracted Géola to perform a Magnetic (21.55 km) and Induced Polarization (17 km) surveys over Matamec’s La Pointe area. Thirteen individual NE-SW trending IP anomalies (chargeability) ranging from 220m to 900m in length related to possible disseminated sulphide mineralization were identified during the survey (Plante, 2001). ▪ 2001: Mines D’Or Virginia with the assistance of Service Techniques Géonordic Inc. completed eight (8) trenching over several IP anomalies identified in the 2001 Géola IP survey. Two trenches (TAP-01-02 and TAP-01-04) sampled quartzite – schists and iron formation units respectively containing trace to <15% pyrite, pyrrhotite and arsenopyrite mineralization. 61 channel samples were collected but no significant gold mineralization (all samples <0.2g/t Au) was identified (Blanchet, 2001). …

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 40

▪ 2008: Ressources Strateco conducted a heliborne radiometric survey through Geo Data Solutions Inc. Continues with geological mapping and conducted more channel samples. The resurveyed the collars from Canico in the 1970s. In total 192 samples were taken from 38 channels (192m) spread over 5 outcrops. (GM 64466) ▪ 2008: Ressources Strateco conducts a drill campaign of 3,386m with some holes twinning the old Canico drilling. Evaluating the new targets produced from last airborne survey a priority. All samples analyzed for 63 elements by ICP and Au, Pd, Pt by fire assay. (GM 64506)

6.3 Historical Exploration Work by Matamec

In 1998-1999, several gold showings within four (4) separate zones (A, B, C, D) were discovered by Matamec on the western shore of Sakami Lake. The new gold mineralization discovered by Matamec went unnoticed despite the abundance of outcrop exposure. This discovery was the starting point for the exploration programs carried out by Matamec since acquiring the claims surrounding these gold showings in 1999.

Zone A: 1.13 g/tAu to 9.20g/tAu

Zone B : 1.08 g/tAu to 12.07 g/tAu

Zone C : 1.03 g/tAu to 18.86 g/tAu

Zone D : 1.90g/tAu

In March 2000, a ground magnetic survey was carried out on the Sakami property (GM 58648).

The assay results from the 1999 program permitted to justify a second and more systematic channel sampling program in 2000, whereby samples were collected perpendicular to the structure, all along the Sakami Lake shoreline (GM 59247). It was this exploration campaign that located gold mineralization in Zone 26, Zone 25, Zone 24, and Zone 23, from west to east. This more representative channel sampling campaign returned the following results:

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 41

• Zone 23: 1.87 g/t Au over 9.70 metres (channel sampling)

• Zone 25: 1.72 g/t Au over 20.80 metres (channel sampling)

• Zone 26: 2.09 g/t Au over 10.00 metres (channel sampling)

In fall of 2000, Steffen, Robertson and Kirsten Consulting (Canada) Inc. (SRK) was retained by Matamec to complete a structural and metallogenic study (Couture, 2001b) on the gold showings (Zones 23 to 26) discovered on the Sakami Lake property.

• Zone 23: 2.31 g/t Au over 4.00 metres (channel sampling)

• Zone 25: 2.00 g/t Au over 7.50 metres (channel sampling)

• Zone 26: 3.84 g/t Au over 4.50 metres (channel sampling)

Another drilling campaign was completed during winter of 2002, totaling seventeen (17) diamond drill holes (EX 28 - Ex-44). Among these 17 diamond drill holes, four (4) were drilled in the

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 42

Peninsule sector (GM 60822 and GM 60823); five (5) were drilled in the JR sector (GM 60822 and GM 60823); and eight (8) were drilled in the La Pointe sector (McLaughlin, 2002). The best result obtained was 3.63 g/t Au over 15.75 m from drill hole EX-31 located on the La Pointe sector. During the same period, various programs of line-cutting, magnetic and I. P. surveys (GM 59593 and GM 59601), as well as geological reconnaissance and prospecting work were carried out in the Peninsule, JR (GM 60822 and GM 60046), Île and Sapinakaw sectors (GM 60046). Towards the fall of 2002, a short drill program consisting of six (6) holes was carried out, of which three (3) were in Zone 25, two (2) in Zone 26 and one (1) in Zone 23 (Lavallée, 2002). The best result obtained was 2.69 g/t Au over 3.00 metres from drill hole EX-49.

Between December 2013 and April 2014, CSM completed a drill campaign on the La Pointe sector which consisted of twenty (20) diamond drill holes totalling 4,464 m. The drilling program was

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 43 designed to test the extent of gold mineralization at Zone 25. A total of 1,535 core samples were collected and sent to Laboratoire d’Analyse Bourlamaque Ltée in Val d’Or. Table 6-1 presents the significant gold intersections of the 2013-2014 drill campaign for which a new interpreted gold zone (Zone 22) was identified to occur within Zone 25. Grab samples locally returned gold grades >10 g/t Au on the JR and 43 showings; channel sample results returned gold grades of up to 9.34 g/t Au but overall the sample grades for the channel were anomalous but variable in gold grades.

Table 6-1: 2013 – 2014 significant drilling intercepts.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 44

No historical or current mineral resources exists for the Sakami Property.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 45

7. Geological Setting and Mineralization

The following item was taken from the “Matamec Exploration Inc. – Sakami Property – 43-101 Technical Report” completed by InnovExplo on September 28th, 2007, and the work report “Rapport de Travaux sur la Propriete Sakami” by Consul-Teck on December 15th, 2015.

7.1 Regional Geology

The Sakami property is located within the central part of the Superior Geological Province, which comprises four Sub-provinces: from north to south they are the La Grande, Opinaca, Nemiscau and Opatica. Stratigraphy of the immediate area of Sakami Lake was well described by Goutier et al. (2000) and by Gauthier-Paquette (1997).

The La Grande Subprovince, defined as a volcano-plutonic assemblage (Card and Ciesielski, 1986) is characterized by narrow, sinuous, and partly interconnected greenstone belts surrounded and intruded by voluminous granitoid rocks (Card, 1990). Structural trends are predominantly east-west to southeast-northwest. The subprovince consists of, from bottom to top, the Tonalite Langelier Complex (basement) dated to 2,778 ± 4 Ma, a mature arenitic sedimentary sequence (Apple formation) surmounted by a volcano-sedimentary sequence composed mainly of tholeiitic basalts, felsic volcanoclastites (dated to 2,732 Ma), and iron formations interbedded with sedimentary horizons (Yasinski group). These volcano-sedimentary sequences are cut by a series of intrusions of tonalite, diorite, monzodiorite, syenite (Duncan group, 2,709 Ma) and later ultramafics.

The Opinaca subprovince is a metasedimentary and plutonic subprovince located in the center of the Superior province between the Opinaca subprovince and La Grande subprovince (Card and Ciesielski, 1986). The Opinaca subprovince is dominantly a sedimentary sequence of younger (≈2,618 Ma) clastic turbidites belonging to a much larger sedimentary basin (Laguiche basin). Polydeformed schists occur at the subprovince margins, whereas the interior portions are metamorphosed to amphibolite and granulite facies (Percival, 2007). The sedimentary units are commonly intruded by granodiorite, tonalite and pegmatite dykes (Goutier et al., 2000). These rocks are also cut by the 2.67 Ga Broadback River granite (Davis et al., 1994). Note that quartz arenites have been mapped in many places along the La Grande / Opinaca contact and likely represent some transitional facies between the two subprovinces, a transition also noted by Paquette et al. (1995).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 46

According to the chronology of structural events from Gouthier (2000), the first deformation episode, before the setting of the supracrustal unit, is visible into the tonalitic gneiss of the Langelier Complex. A second episode affects the volcano-sedimentary sequence of Apple- Yasinski. It is associated to a NW-SE tectonic movement and is responsible for kilometrical folding and imbrications. After the Duncan intrusion, which is associated with the third deformation, and the foliation of the intrusive units, a thrust fault brought the volcano-sedimentary unit in part over the metasediments of the Laguiche Group. Finally, a dextral (NW-SE) shear system affected the dome and basin structure.

The regional metamorphism varies gradually from the green schist facies in the North to the amphibolitic facies in the south. (Gouthier and Al., 2000.) This progression is mostly observable through the metasediments of the Laguiche Group.

7.2 Property Geology

The Sakami property straddles the contact between the La Grande and Opinaca subprovinces (Figure 7-1). In 1998 and 1999, several gold showings were discovered by Matamec on the western shore of Sakami Lake (Lamarche and Lavallée, 1998; Beauregard and Gaudreault, 1999) within the contact zone between the volcanic rocks of the Yasinski Group (La Grande subprovince) and the sedimentary rocks of the Laguiche Group (Opinaca subprovince).

The addition of the 93 new claims to the property in August 2016 brought new targets for exploration. The western half of these claims is part of the Apple formation which is a long-time interest for uranium, but exploration efforts for old have been limited to date. The southernmost claims along the contact between the La Grande and Opinaca subprovinces haven’t been visited as much. Most activities were from geophysical survey even though some holes have been drilled in the seventies and another few in 2008.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 47

Figure 7-1: Location of the Sakami Property with regional geology and local sectors.

The Yasinski group is composed of a sequence of iron formations, clastic sedimentary rocks and mafic to felsic volcanic rocks (Goutier et al. 1998). The Yasinski group consists of (1) iron formation as the basal unit of the sequence; (2) a polygenic conglomerate and a wacke; (3) a brown or green polygenic conglomerate; (4) a pillow or massive basalt (dominant lithology); (5) a sequence of andesite and intermediary pyroclastic rocks; and (6) a sequence of sheared felsic pyroclastic rocks.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 48

The Laguiche group is characterized by a large group of metasedimentary rocks intruded by granite and pegmatitic granite (Goutier et al., 2000). The Laguiche group principally consists of biotite paragneiss from progressive transformation of a feldspathic wacke interlayered with arkosic sandstone and arenite. Iron formations are rarely observed in the Laguiche group (Goutier et al., 2000).

Intrusions cross-cut folded and foliated volcanic and sedimentary rocks of the Yasinski group. After several episodes of N-S to NNW-SSE compression, Yasinski group rocks were overlain by an extensive sedimentary basin represented by biotite paragneisses of the Laguiche group (Dion et al., 2003). The contact is faulted in many locations; however, a normal contact is locally observed between the biotite paragneisses and Yasinski group volcanics. In the Sakami property area, this overlap fault is heterogeneous and exceeds 500 metres in total thickness (Sakami fault). High strained zones trending southeast and dipping steeply to the northwest alternate with lesser- deformed blocks where primary rock fabrics and textures are preserved (Couture, 2001). The volcano-sedimentary rocks have undergone greenschist to amphibolite metamorphism.

The Apple formation (La Grande Subprovince) consists of a sequence of quartz arenite and quartz pebble monogenic conglomerate with pyrite and uranium. The Apple formation was studied by Paquette (1998) who provided a good geological and metallogenic context for this sector. The conglomerate of this unit contains uranium mineralization. The thickness of the Apple formation varies from 24 metres to 560 metres (Goutier et al., 2000). In some areas, the arenite is interlayered with wacke and iron formation. The upper contact of the Apple formation is conformable with the arenites (Apple formation) and the volcanosedimentary rocks of the Yasinski group. The lower contact of the Apple formation is represented by an erosional disconformity between quartz arenite and the Langelier Complex gneiss (Goutier et al. 2000). The Apple formation is approximately located on claims 1131198, 1131199 and 1131200. In this sector, the eastern extension of the Apple formation is not yet well defined.

According to the chronology of the structural events of Goutier (2000), the first deformation event that precedes the emplacement of the supracrustal rocks is visible in the tonalitic gneisses of the Langelier Complex. A second event which affected the Apple-Yasinski volcano-sedimentary sequence, associated with tectonic displacement from northwest to southeast, is responsible for kilometric, nested folding. This is followed by emplacement of the Duncan intrusion, which is associated with the third deformation event resulting in foliation of the intrusives and thrusting of the volcano-sedimentary sequence onto part of the Laguiche metasediments. Subsequently, polyphase deformation is associated with the emplacement of the granitic intrusions which mainly affected the Laguiche units. Finally, a dextral shear system trending northwest-southeast

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 49 crosscuts the folded dome and basin structures. Numerous dextral thrust faults, oriented northeast-southwest (Bruce-Apple corridors in the south, Ménarik-LG-3 in the north) were noted by Goutier et al. (2000), Paquette and Gauthier (1997), as well as Chartrand-Gauthier (1995).

Regional metamorphism varies gradually from greenschist facies in the north to amphibolite facies in the south (Goutier et al., 2000). The metamorphic progression is particularly observed in the Laguiche Group metasediments. The sediments north of the JR sector display lower grade metamorphism compared to those located in the La Pointe area. Goutier (2000) indicates the approximate position, from west to east, then from north to south, of the metamorphic isogrades that transition from the garnet to the garnet-staurolite assemblage near the La Grande / Opinaca contact into that of the garnet-staurolite-andalusite assemblage to the east, and finishing with the addition of sillimanite in the south.

7.3 Local Geology

Several mineralized areas hosting variable gold grades are known to exist throughout the Property and have been the focus of exploration work. The following local geology was also sourced from the above mentioned InnovExplo 2007 and Consul-Teck 2015 reports.

7.3.1 La Pointe Sector

Exploration work carried out between 1998 and 2004 on the La Pointe sector developed a better understanding of the metallogenic context and helped to refine the geological and structural interpretation of the auriferous showings.

Matamec identified three (3) distinct gold zones between the two geological subprovinces on the La Pointe sector, Zones 23, 25 and 26 from east to west (Figure 7-2). Couture, 2001 identified three main rock types in the sector, metamorphosed sedimentary rock (biotite paragneiss of the Opinaca), amphibolitised mafic volcanic rock and granodiorite from east to west. These rock units are interlayered and injected / intruded by an alkali granite pegmatite (carrying tourmaline) and other felsic dikes (or strongly altered and silicified paragneiss, Fleury 2016), and to some extent are best described when placed in their structural settings. To the east, there is a band of pyrite- hosting quartz arenites within the eastern flank of the fold and the respective transposition zone drawn on the map (Figure 7-2). These arenites appear to belong to the Apple formation based on observations made at outcrop and their location stratigraphically (as mapped by Jean-Philippe Fleury completing his master’s degree on the local geology in 2016). A folded magnetic-bearing

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 50 iron formation occurs within the mafic volcanic rocks in the western portion of the La Pointe sector. West of this iron formation, the sector comprises alternating layers of mafic volcanic and granodiorite dykes or sills and ends in granodiorite in the west. Each of the three gold zones display unique characteristics and are described separately by Couture, 2001 below.

Figure 7-2: Geology and gold occurrences in the La Pointe sector.

The auriferous zones were modeled in drill hole intercepts at depth with respect to the orientation of the zones exposed in outcrop. Vertical cross sections were created to visualize the drill holes and use polylines to snap to the mineralized zones. The polylines were then linked across sections to create solids. The solids respect the Opinaca and La Grande tectonic contact. Drilling from 2015, 2016 and 2017 allowed for the identification of an additional mineralized zone in the Opinaca paragneiss, Zone 22, which projects to surface under Sakami Lake (Figure 7-3). Zone 22 is interpreted to vary in true thickness from 8 to 15 m, and dips at approximately 40 degrees to the south-southwest, parallel to Zone 25 and 26. Zone 25, Zone 22 and Zone 26 are probably the same zone that is tightly folded, so that the fold limbs become parallel to each other (possible

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 51 isoclinal fold) (Figure 7-4). The 2015, 2016 and 2017 diamond drill campaigns combined with historic drilling allowed for a minor reinterpretation of the orientation and thickness of Zone 25. Significant drill hole intercepts discussed in previous reports may in fact be related to Zone 22. Additional significant drill results from the 2015-2016 and 2017 campaigns for Zone 22 and the merged area of Zone 22 and Zone 25 are described in Item 10.

Figure 7-3: View of La Pointe zones at depth

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 52

Figure 7-4: Interpretation of mineralized bodies, looking down perpendicular to the contact between the Yasinski group and the Laguiche group

7.3.2 Zone 23

Gold mineralization of Zone 23 occurs within two (2) distinct areas spaced by approximately 50 metres (Couture, 2001). The initial discovery was made along a narrow, linear, stripped outcrop extending from the shoreline inland for approximately 50 metres. The second zone of gold mineralization occurs along the shoreline and possibly represents the eastern strike extension of the gold-bearing mineralization exposed by stripping.

A mixed sequence of intensely sheared amphibole-bearing mafic and felsic rocks is exposed on Zone 23. This zone contains traces of disseminated sulphide, mostly pyrite and pyrrhotite and no obvious quartz veining (Couture, 2001). Near the shore, Zone 23 units are in contact with the biotite paragneiss. A thin unit (less than 1 metre) of sillimanite-bearing paragneiss defines the contact zone. To the southeast, the trench ends in a barren mafic volcanic unit cut by a narrow

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 53 aphanitic felsic dyke. A continuous channel sample was taken across the mixed package from the biotite paragneiss in the NW to the mafic volcanic rocks to the SE assayed 1.9 g/t Au over 9.70 metres. A second area of gold mineralization occurs along the shoreline and is hosted by altered and veined biotite paragneiss. The paragneiss is more heterogeneous, contains traces of disseminated sulphides, and has a distinctive rusty appearance.

Due to a cliff running SW and located nearby, access to this zone is difficult and to date, only one diamond drill hole (EX-50) has been drilled from the main land. Zone 23 was intersected with a value of 0.99 g/t Au over 2.94 metres (Lavallée, 2002). Hole EX-11 was drilled on Sakami Lake and the Zone 23 intersection assayed 0.81 g/t Au over 11.55 metres.

7.3.3 Zone 25

Gold mineralization within Zone 25 occupies the western portion of a high strain zone (i.e. Sakami Fault) that has a drilled strike length of 700m whereby the thickest part of the zone is approx. 21 m. The exposed portion of Zone 25 on surface is approx. 150m in length (Figure 7-5). The auriferous section occurs within a distinct lithological unit located along the western margin of the high strain zone (Couture, 2001). Seven discontinuous channel samples cut to preserve continuity perpendicular to the main fabric returned 1.7 g/t Au across a combined thickness of 20.8 metres.

Zone 25 consists of a fine- to medium-grained, foliated paragneiss (quartz, plagioclase, and biotite; Fleury, 2016) characterized by local fracturation, white mica alteration, and local networks of millimetric quartz veins (Couture, 2001; Fleury, 2016). The central portion of the unit appears more massive and is coarser-grained and visually less altered (Couture, 2001). Fleury, 2016, observed that several styles of alteration are present in which silicification is the most dominant followed by quartz-biotite veinlets, possible actinolite-chlorite alteration, and then later stage quartz-sericite alteration. The biotite alteration is finer grained than the primary or metamorphic biotite, and is also more brown than black in colour (possibly phlogopite). Overall, biotite is the dominant alteration mica but areas where sericite is more prevalent are also subjected to higher silicification (Fleury, 2016). The intensity of fractures and alteration increases near the margins of this unit, where S3 cleavage locally buckles narrow veinlets. Fracturation and alteration are most intense on both margins. The entire unit hosts disseminated arsenopyrite and pyrrhotite with minor pyrite (all totalling 1-5%) but sulphide abundance is higher near the margins. At the eastern contact of the felsic unit is a 2-metre wide, sulphide-rich zone of mostly arsenopyrite, pyrite and minor pyrrhotite, which are disseminated into small centimetre-size pods or vein-like bodies

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 54

(several centimetres across) oriented mainly parallel to the principal rock fabric. This sulphide- rich-rock is very fine grained and clearly cross-cuts the felsic rock (Couture, 2001).

Figure 7-5: Surface projection of Zone 25 showing approximate strike length with associated 3D geological model

Fleury, 2016, observed that the Zone 25 gold mineralization appears to be more related to the arsenopyrite, which is present in the form of very fine needles (<1 mm) associated with the biotite alteration and silicification. This relationship is well displayed in Figure 7-6, in which samples were

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 55 submitted for whole rock analysis and the arsenic content was compared to the gold analyses. Samples consisted mainly of 1 m to 1.5 m drill core halves, with a couple grab samples from Zone 26, and were selected based on the degree of various alterations, mineralization, and a mix of low to high grade Au. The graph indicates a positive linear relationship based on thirty-two (32) samples (Fleury, 2016).

Figure 7-6: Relationship of Au versus As in grab samples of Zone 25 (Fleury, 2016).

Couture interpreted Zone 25 as a felsic dike but with further exploration and mapping, Zone 25 is now interpreted to be a strongly altered and silicified paragneiss (Fleury, 2016). Gold is distributed unevenly across Zone 25 (Couture, 2001). The central, less altered core of the unit shows anomalous gold abundances. Grades increase significantly within the fractured and altered margins of the unit. A channel sample assayed 1.72 g/t Au over 20.80 metres. Diamond drill hole EX-10 assayed 2.95 g/t Au over 43.0 metres (Beauregard, 2001) and hole EX-22 returned 3.34 g/t Au over 12.7 metres (McLaughlin, 2002). Significant intercepts from the 2013-2014 campaign can be found in Item 6. Significant results from the 2015 and 2016 drill campaigns for Zone 25 are numerous and can be found in Item 10.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 56

7.3.4 Zone 26

Zone 26 is the western most gold showing discovered by Matamec. It is closely associated with a tightly folded magnetite-rich iron formation (oxides and silicate facies) hosted in pillowed mafic volcanic rock of the La Grande subprovince (Couture, 2001). The general sense of the fold is dextral. The geometry of the two hinges of the asymmetric fold is different. The eastern hinge zone is tight and considerably thickened whereas the western hinge is more of a square shape. Internal layering is commonly contorted and disrupted. Non-synclinal small-scale folds are common and depict a complex folding pattern. Because of this complex geometry, the true thickness of the iron formation is difficult to estimate accurately (Couture, 2001). Zone 26 is discontinuous at the Property scale and appears to be concentrated at shallow depths; it was intercepted in drill hole PT-13-71 (1.25 g/t Au over 5.88 m) but only trace in PT-13-72 immediately beside 71. The other drill hole that pierced Zone 25 was PT-13-67, 0.61 g/t Au over 12.61 m. Neighbouring drill holes PT-13-65, 66, and 69 did not intersect Zone 26. Zone 26 was not intercepted during the 2015 and 2016 drill campaigns.

Within the iron formation, sulphides are present in the form of disseminated clusters and local veinlets; magnetite is locally replaced by arsenopyrite and pyrrhotite (Fleury, 2016). The replacement is more intense in the hinge zone of the eastern fold. In a small area, a few tens of centimetres across, the arsenopyrite content reaches 10% to 15%. In diamond drill hole EX-19, up to 25% of sulphide mineralization was locally observed in the iron formation and assayed at 9.22 g/t over 12.55 metres (Lavallée, 2002). Elsewhere, sulphide abundance occurred as trace to 3% of the rock. Gold grades are directly proportional to the sulphide content. The best gold grades to date are present in the thick eastern hinge zone.

Matamec cut several channel samples across the iron formation taking considerable care to align samples perpendicular to the iron formation layering (Couture, 2001). The resulting composite accurately sampled the iron formation but its combined length does not represent the true thickness of the auriferous zone due to the folding pattern, which provides an optimal chemical trap for sulphide and gold precipitation (Couture, 2001). In this context, the sampling procedure was adequate to test the iron formation for its gold content. The channel sampling assayed 2.09 g/t Au over 9.96 metres in the iron formation.

7.3.5 La Pointe Structural Geology

The principal structural fabric present in all rock types is a well-developed foliation cleavage (S1), which realigns metamorphic minerals in the mafic volcanics, biotite paragneiss and granodiorite

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 57

(Couture, 2001). On average, this S1 foliation strikes WSW and dips abruptly to the south. Metamorphic minerals generally display a good mineral lineation (Lm), especially in coarse- grained rocks such as paragneiss, and granodiorite. In the mafic volcanic rock, primary features such as pillow selvages, phenocrysts and vesicles also developed an impressive stretching lineation (L1). On S1 planes, the stretching (L1) and mineral (Lm) lineations consistently plunge toward the SSW at approximately 35° (Couture, 2001).

The main planar fabric commonly displays crenulated cleavage (S2) of centimetric to decimetric minor folds (P2) (Couture, 2001). This cleavage strikes on average NE-SW and dips abruptly to the south and north. The sense of the minor folds is dominantly dextral (Z-shaped), although sinistral and M-shaped folds are locally present. Larger mesoscopic P2 folds exist locally near lithological contacts. These are mostly open folds, except for one affecting the iron formation in Zone 26. The axial planes of mesoscopic and small-scale P2 folds trend parallel to the S2 crenulation cleavage. P2 fold axes plunge parallel to the L1 lineation.

Fleury observed tight folding in the amphibolitised mafic volcanics in which the S1 is folded by the S2 (P2) (Figure 7-7). The axial planes correspond to the main schistosity. Certain fine grained felsic dykes are also tightly folded with axial planes parallel to the main schistosity (Figure 7-8). Both of these tight folds are mainly observed in the inflection zones (change of concavity direction) and the hinges of P1 folds re-folded by P2. These structures are poorly developed in the eastern flank where everything is transposed.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 58

Figure 7-7: Amphibolitised mafic volcanics S1 folded by S2.

Figure 7-8: Felsic dyke with axial planes parallel to main schistosity.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 59

The shape of the fold affecting the iron formation unit in the volcanic rock is somewhat different (Couture, 2001). The fold pattern is complex with a general dextral shape. Within the folded unit disharmonic folds are common and disrupt the internal layering. In general, the fold hinge is considerably thickened and limbs are flattened. The axial plane is parallel to the S2 fabric. The fold axis of the eastern hinge plunges parallel to the stretching lineation, whereas that of the western hinge is almost sub-vertical.

Two high strain zones were interpreted and mapped by Couture (2001), who identified the strain zones as a large mylonite zone (Sakami Fault). This major fault represents the limit between the La Grande and Opinaca subprovinces. Within these strain zones, no primary rock features are preserved. The rock displays a structural layering consisting of alternating layers of light and darker-coloured material aligned parallel to the S2 fabric. The S1 fabric is completely transposed parallel to the S2 mylonitic fabric. Sections parallel to the S1/S2 surfaces usually display a good stretching lineation plunging moderately toward the SW. The outcrop surface, however, gently dips toward the NE into the lake and thus does not provide an ideal section for the observation of strain markers. Margins of the high strain zones are usually sharp and parallel to the S2 fabric. Mesoscopic F2 folds are best developed in the adjacent lithologies on either side of these high strain zones. A third cleavage (S3) is locally developed in the high strain zones (Couture, 2001). This fabric cuts previous planar fabrics (S1/S2) at a low-angle (approximately 10°). The S3 cleavage strikes on average SSW and its dip is sub-vertical, although outcrop exposure does not allow for inference of the dip of the S3 fabric.

Fleury, 2016, did not interpret a large strain corridor between the basalts and arenites; Fleury mapped the area and based on the principles of overlap, the Zone 25 rocks appear younger than the Apple arenites and Yasinsky basalts due to the fact that the granodiorites/tonalites that cut the two subprovince formations are absent in Zone 25.

Finally, a set of late brittle faults trending SSE with variable dips to the west were observed by Couture (2001). These small faults do not show significant displacement and the fault plane does not contain any striations to help establish the slip direction.

The basalt and sediment bedding on the north shore of Sakami Lake is exposed in the east- southeast/west-northwest trending flank of the large “Z” fold where the northeast/southwest foliation of the axial plane (S2) is strongly oblique to the bedding (S0) and the axis of the large fold (F1). This long flank (F1+F2) displays several metric to decimetric dextral “Z” folds in outcrop at Zone 25.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 60

It is possible that the southeastern quartzites and those of Zone 25 represent laterally equivalent facies forming benches or lenses interbedded with facies more or less rich in quartz, such as the La Pointe "greywacke" where the term "sandstone" is also used. It should be noted that the sericitised felsic volcanics described in drill holes in the southeast area directly correlate with quartzite along the cliff. This conflicting interpretation is likely due to the intense deformation of the rocks, making it difficult to identify the lithology in drill core.

One would expect to find the quartzite facies in lateral extensions close to the main fold nose, northwest of Zone 23 and west of Zone 25, as well as on the same stratigraphic level beyond explored areas. The facies is confirmed in drill hole EX-11 over a 20 m long gold-bearing intersection; the drill collar is located 75 m north of La Pointe and in line with Zone 23.

The fold pattern likely continues both east and west of Zones 23 to 26, as suggested by the magnetic relief pattern of the ground and airborne surveys which emphasize the presence of folded basalts beyond mapped areas and even under Sakami Lake.

7.3.6 JR Sector

The JR showing is located eight (8) kilometres northeast of the La Pointe sector. It consists of several outcrop areas that have been mapped along systematic traverses every 100 metres (J. Lavallée, 2003). The JR geological map is based on data collected from the outcrops, prospecting, and interpretation of a high resolution airborne magnetic survey (Figure 7-9).

From west to east the JR sector lithologies are the Duncan polyphase pluton consisting of tonalite, diorite, and monzonite, followed by the Yasinski group basalts, which are in contact with the detrital sediments of the Laguiche Group in the east. Exploration work in the JR sector targeted the Yasinski basalts and the sediment contact area. The best result obtained from channel sampling was 2.1 g/t Au over 2.5 metres, including 5.5 g/t Au over 0.5 metres (GM 59019). Diamond drill holes EX-40 and EX-41 were drilled below the JR showing (GM 60822 and GM 60823). No significant result was obtained from these drill holes.

7.3.7 JR Structural Geology

The SIGEOM geological map and the regional airborne and ground magnetic surveys indicate that the JR sector represents the eastern hinge of a WSW-ENE oriented regional antiform whose core was formed by the late Duncan intrusion. The opposing hinge to the west of the Duncan intrusion was documented by J. Goutier, 2000. This mega-hinge is traversed by several faults

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 61 tangential to the flanks of the large fold in which they’re oriented preferentially NE-SW, S, and ENE to N. Drag folds affect the Yasinski basalts and the Laguiche sediments, generally in a “Z” fold pattern in the north and an “S” pattern in the south. The fault group on the north side likely represent a major deformation corridor that coincides with a significant dextral, east-west offset of the Yasinski/Laguiche contact of over 2 km.

To the east, all faults are slightly (but distinctly) curved towards the northeast in the Yasinski/Laguiche contact zone. To the west, at least one of the faults is oriented east-west through the Duncan pluton, juxtaposing two intrusives, a tonalite to the south and a diorite to the north. The main branch of the deformation corridor north of the Duncan pluton runs westward along the Yasinski basalts to the west, between the massive quartz monzondiorite intrusion in the northwest and the Duncun pluton in the south. It is oriented northwest-southeast, controlled by the surrounding plutonic bodies.

The Yasinski group outcrops in the JR sector is 2/3 basalt, with some iron formations and amphibolites likely with a basaltic protolith. The remaining third listed in decreasing order includes gabbroic intrusions, a few tonalities, and a few diorites. Mylonites are found near the south, as well as localised outcrops of paragneiss, diabase, granodiorite, and granite (Figure 7-9).

The Yasinski / Laguiche contact hosts numerous dextral and sinistral drag folds of various sizes resulting from the D2 deformation event. The contact is also offset by east-west and east- northeast trending faults. Several outcrops of quartz-sericite schists are mapped along the basalt- paragneiss contact and are also locally interstratified with the basalts near the contact between the two subprovinces. These could be similar to the quartzites of the La Pointe sector found in the same stratigraphic position.

Even through detailed mapping it was not possible to trace a precise orientation of the primary structures (S0) folded in the basalts within the mega-hinge antiform. It was, however, possible to interpret the shape of the folds based on the magnetic signature characteristic of certain layers in the basalt sequence. Thus, the JR, 43, and 9.6 showings towards the north would be affected by two tight, “Z”-shaped drag folds. The one associated with the J.R. showing is not as well defined due to a lack of total coverage with the magnetic ground survey. The more southern of the two folds is easier to distinguish with its flanks on either side of the 9.6 showing. The 43 showing is located in the eastern extension, close to a secondary hinge in an “S” form, just south of the main anti-form hinge. From this point southward, the drag folds are generally “S” forms with a sinistral sense.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 62

Local outcrops of mylonite are found in the central southwestern area of the map. The outcrops are roughly aligned with showing 43 to the east and the main schistosity demonstrates the presence of east-west to east-northeast shearing. The southern sector, S2S, displays a more variable geophysical signature, which is accentuated in approaching the southern part of the antiform limb where the strata is reoriented ENE-WSW.

Figure 7-9: Geology and gold occurrences of the JR sector and 43 and 9.6 showings.

7.3.8 9.6 Showing

The 9.6 showing was discovered near the JR showing (Figure 7-9) and is of similar geological context (GM 60046). Part of the showing consists of a rusty band (+/- 2 metres in width) within a quartz vein hosted in unaltered, almost massive, amphibolitised basalt (an alteration halo exists

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 63 along the quartz vein). In 2002, a grab sample of this rusty band associated with 1% to 2% pyrite and local sphalerite and chalcopyrite, assayed up to 9.6 g/ t Au. The amphibolitised basalt also houses numerous millimetric quartz veinlets. In 2003, numerous samples were taken on the same zone after stripping the outcrop toward the SSE. The best result obtained was up to 31.03 g/t Au (grab sample). This sample was located 14 metres SSE of the grab sample 9.6 g/t Au (GM 61190). An area of 2,100 square metres (70 metres by 30 metres) was stripped in the sector of the 9.6 showing. The stripping was oriented N150° – N330°. The exposed area revealed a felsic dyke and quartz vein cutting the rusty zones within basalt (GM 62497). Two directions of rusty zones were observed on the stripped outcrop; one direction is roughly N160°-N340° and another one seems to cut the first one at N045°-N225°. The dimension of the rusty zones was 3 to 4 metres by 0.5 to 1 metre. Several channel samples were collected on these rusty zones. The best results were 17.87 g/t Au over 1.50 m; 7.68 g/t Au over 1.50 m, and 13.7 g/t Au over 1.00 m (GM 62497). Diamond drill holes EX-57 and EX-58 were drilled to test the rusty zones at depth within basalt. No significant result was obtained.

7.3.9 43 Showing

The 43 showing is located 1.4 kilometres east of the JR showing (Figure 7-9). The showing was found when diamond drill hole EX-43 tested a coincident magnetic-I.P. anomaly. Assay samples of the drill hole returned 2.03 g/t Au over 6.0 metres (GM 60822 and GM 60823). The intersection is hosted within a silicified biotite paragneiss interlayered with bands of magnetic garnet chert. The mineralization consists of 5% pyrite (up to 10%) accompanied by disseminated pyrrhotite and possibly arsenopyrite.

In 2003 and 2004, part of the 43 showing was stripped and sampled near drill hole EX-43, consisting of an area of 10,500 square metres (150 metres by 70 metres). The stripped area was oriented in the same direction as the foliation (N80° – N260°). The newly exposed area consisted of basalt interlayered with fine to lapilli tuff and thin folds of siliceous iron formation (Figure 7-10). Felsic dykes were present and cut all lithologies. Sulphide mineralization was present in the form of pyrite, pyrrhotite, and occasionally arsenopyrite, in all lithologies. An exposed shear zone oriented N080° – N260° and dipping steeply to the north was grab sampled and assayed up to 36.29 g/t (GM 62497) on line 14+00 E. Channel sampling in the shear zone returned a result of 4.68 g/t Au over 2.50 metres (including 15.07 g/t over 0.5 metres). Diamond drill hole EX-62 cut the shear zone at depth in this sector, but no significant result was obtained. On line 13+00 E located 100 metres west of the area, a channel sample (GM 62497) along the same shear zone

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 64 assayed 11.1 g/t over 1.50 metres (including 24.07 g/t over 0.5 metres). Drill hole EX-61 cut the shear zone at depth in this sector but no significant result was obtained (GM 62497).

Figure 7-10: Geology of the 43 showing (adapted and modified from GM 62497).

7.3.10 Île Showing

The Île showing could be the northeastern extension of the JR showing, 2.5 km to the east- northeast. It is located north of the Duncan antiform which is separated from the major ENE fault zone located in the Sakami Lake channel. It’s the northern side of this fault zone where the regional metamorphic garnet-staurolite isograd changes to garnet-staurolite and andalusite in the south. The local lithologic orientation is controlled by the quartz-monzonite intrusive to the northwest (Figure 7-11).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 65

The Île showing is home to fewer outcrops than the JR showing, except in the south where a tight fold axis that is also likely faulted ENE is interpreted. The faulted fold juxtaposes basalts, tonalities, and quartz-sericite schists with feldspathic wackes (SIGEOM) or paragneiss (Lavallée, 2003). A grab sample of the paragneiss with 5 to 6% pyrite and pyrrhotite assayed 5.17 g/t Au (GM 60046). Two gold occurrences exist on this deformed basalt band, separated by over a kilometre along the interpreted F2 fold axis. One occurrence assayed 2.0 g/t Au and the second at 1.07 g/t Au respectively.

Very little work has been done on this sector to date by Matamec, but the property-scale fold and fault interpretation suggests that structural / chemical traps similar to those of the JR showing are also present in the Île showing.

Figure 7-11: Geology of the Île sector.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 66

7.3.11 Peninsule Sector

Four drill holes were completed in winter of 2002 on both magnetic and I.P. targets and provided mixed results. The magnetic anomaly explored with drill hole EX-35 to the southwest resulted in a large tonalite dyke hosting very fine disseminations of magnetite. Drill holes EX-36, 37, and 38 were drilled through the central I.P. target, which already hosts the Kalmia showing at surface of 2.0 g/t Au and 3.8 g/t Au associated with quartz-pyrite veinlets that cut pegmatite hosted within greywacke. Drill hole EX-36 intersected a moderately deformed and sheared magnetic quartz- diorite containing local minor thin pyrite concentrations, which returned no anomalous gold results. Drill holes EX-37 and EX-38 were drilled along the same anomaly but 400 m and 800 m to the west of EX-36. Both drill holes intersected a diorite and andesite assemblage, and a hybrid, deformed and micro-folded zone consisting of a mixture of paragneiss, volcanogenic sediments, chert, and iron formation. The minor altered and micro-folded sections only yielded low gold values (<100ppb Au).

7.3.11.1 Detailed Geology of the Peninsule sector, 2016 Mapping

Sedimentary Rocks

The Peninsule Sector consists of a sedimentary rock assemblage consisting of silicified sediments and iron formations. The sedimentary rock assemblage represents the main lithology observed in the Peninsule sector, covering about 80% of the surface area. They can be separated into two distinct domains of sediments +/- silicification, and meta-sedimentary rocks or paragneiss. The sediments of the Peninsule area are characterized by a general mineralogical assemblage of quartz, plagioclase, and biotite, sometimes containing pyrite, pyrrhotite, molybdenum, and trace chalcopyrite and arsenopyrite. The sediments are predominantly heterogeneous with low to moderate compositional bedding and are mainly fine grained. They can be difficult to discern from basalt when they are more homogeneous and finer grained. Sulphide mineralization is mainly present as disseminations but minor stringers are observed parallel to the schistosity. The rocks are non-magnetic to weakly magnetic and areas with higher sulphide mineralization are also typically silicified. Alterations within the sector include silicification, millimetric carbonate veinlets, and epidote alteration on fracture faces. Minor millimetric graphite filled fractures are also present, as well as potassic alteration.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 67

The paragneiss or meta-sedimentary rock of the Peninsule sector consists of a mineralogical assemblage of quartz, biotite, plagioclase, and sulphides (pyrite and pyrrhotite), with local garnets in areas of higher metamorphism. The paragneisses are fine grained, heterogeneous, banded, and non-magnetic to weakly magnetic. Mineralization in the paragneisses rarely exceeds 3% sulphides (pyrite and pyrrhotite) and occurs in small clusters or stringers parallel to the schistosity (S1). These rocks are often altered by weathering, giving them a sandy coloured appearance.

The general orientation of the sedimentary rocks of the Peninsule sector is N220° to N270° in the eastern area and N040° to N090° in the west with a dip of approximately 65°. Little or no iron formation was observed during the exploration campaign; the Simon showing is the best example. The Simon iron formation rocks are heterogeneous, banded and predominantly magnetic. Mineralization consists of pyrrhotite, pyrite, and arsenopyrite, and the Simon iron formation also contains the highest gold value (45.9 g/t Au) in the Peninsule sector. Three types of iron formation were observed: iron oxide formations (S9B), carbonate iron formations (S9C), and iron silicate formations (S9D) near channel sample R17 of the Simon showing.

Volcanic Rocks (Basalts)

Basalts in the Peninsule area consist of plagioclase, amphibole, biotite, chlorite and trace amounts of sulphides (pyrite, pyrrhotite and arsenopyrite and chalcopyrite locally). The basalts are greenish-gray to bluish gray on a fresh surface and gray-brown on the weathered surfaces. They are aphanitic to fine grained, non-magnetic, and homogeneous. Asymmetric quartz veins, carbonate alteration veinlets, and slight epidotization near fracture planes are also present. Pillow basalts were also observed. Mineralization is mainly disseminated and does not exceed 3% total sulphides. The basalts units occur mostly in the northwest part of the Peninsule area.

Intrusive Rocks

Intrusive rocks consist of tonalite, mineralized granite and peridotite. Tonalite is present on a good portion of the Peninsule area. It is characterized by a mineralogical composition of quartz, plagioclase, and less than 5% biotite. Grain size varies from medium to pegmatitic, triple junctions exist between crystals. Specific areas such as the Kalmia showing host up to 15% pyrite/pyrrhotite and trace to 1% arsenopyrite/molybdenite associated with the tonalite. The sulphide mineralization is disseminated and sometimes along quartz veins. The tonalite occurs mainly to the south-southeast where it outcrops and in some places in the south-southwest. The tonalite was interpreted in the western area of the property by diamond drill and magnetic survey as outcrops are limited due to extensive wetland coverage.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 68

Granite is one of the lithologies that demonstrates a good correlation with magnetic highs. It is observed mostly in the eastern part of the Peninsule area near the water. It consists of quartz, plagioclase, alkali feldspar, biotite, and muscovite. Grain size varies from medium to coarse grained and the rock is characterized by a gray-pink color and a homogeneous appearance.

Peridotite was observed on the northwest point of Peninsule on the bank. It is in the form of a rounded dome and weathers from dark gray to gray-brown. It is composed of olivine and pyroxene, displays a grainy appearance, and is highly magnetic.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 69

8. Deposit Types

It is generally acknowledged that the geotectonic setting is of paramount importance in controlling the distribution of different types of metalliferous ore deposits on a global scale. The settings in the Sakami Lake (33F) and Guyer Lake (33G) areas (La Grande sub-province) are fairly different from settings observed in the south in the Abitibi sub-province (Dion et al., 2003). One of the most important differences is the development of volcano-sedimentary sequences unconformably overlying a tonalitic basement.

La Pointe Zone of the Sakami property shows evidence of significant gold potential. The property covers a major geological contact between two sub-provinces that are very favorable for hosting gold deposits. This geological setting comprises the Opinaca sediments, the La Grande mafic volcanics, and iron formations in association with a strong deformation zone, notably near the tectonic contact of the La Grande-Opinaca sub-provinces.

The mineralization style and tectonic setting share considerable similarities with the Eleonore mine held by Goldcorp and the Cheechoo showing held by Sirios Resources, such as

• The mineralization associated with silicified paragneiss containing fine quartz veinlets. • An alteration of quartz and brown tourmaline with minor arsenopyrite mineralization. • An association of gold mineralization with a very proximal tonalite intrusion. • The presence of gold mineralization associated with silicified paragneiss of the Opinaca basin, including fold structures.

The reader is cautioned that there is no guarantee that mineralization of the grade reported on the Éléonore and Cheechoo projects is located on the Sakami property.

It may be interesting to draw a parallel between La Grande sub-province occurrences found in the Sakami Lake and Guyer Lake area and those encountered in the Abitibi sub-province. Thus, iron-formation-hosted stratabound gold deposits appear to be much more common in the La Grande sub-province than in the Abitibi sub-province (Dion et al., 2003). However, the opposite is true for volcanogenic massive sulphide deposits (VMS). Orogenic gold deposits are evenly distributed in the two sub-provinces, which may suggest the existence of a single episode of emplacement for the entire Superior province (Dion et al., 2003). The geology of the La Grande sub-province bears some resemblance to the geology of the Slave craton (Northwest Territories). The gold potential of the Slave craton has long been established in the Yellowknife district, in Lupin mine sector (Dion et al., 2003).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 70

Several types of mineralized occurrences were recognized in the Sakami Lake (33F) and Guyer Lake (33G) area. Occurrences most specific to the Sakami Lake (33F) and Guyer Lake (33G) area are: uraniferous conglomerates, iron formations, magmatic Cr-PGE and Cu-Ni-PGE occurrences, and Proterozoic uraniferous and polymetallic occurrences (Dion et al., 2003).

The main types of mineralized occurrences targeted on the Sakami property are: stratabound gold occurrences associated with oxide facies or silicate-oxide facies iron formations (Au-Ag-As) and orogenic gold occurrences related to longitudinal shear zones. Other gold deposit type models have some similarities with the known gold mineralization known to exist on the Sakami Lake Property such as the Puffy Lake gold deposit is located in quartzo-feldspathic biotite-bearing gneiss in the Churchill province (Ostry and Halden, 1995), and Witwatersrand-type auriferous paleoplacer deposit model.

8.1 Stratabound gold occurrences associated with oxide facies or silicate-oxide- facies iron formations (Au-Ag-As)

These gold deposits are considerably more abundant in the La Grande than the Abitibi subprovince (Dion et al., 2003). This confirms the observation that gold-bearing iron formations are generally more common in high-grade metamorphic environments (amphibolite) such as the La Grande sub-province. Many of these occurrences are located near the contact between the La Grande and Opinaca sub-provinces (Dion et al., 2003).

These deposits are characterized by a strong association between native gold and iron sulphide minerals, the presence of gold-bearing quartz veins, the occurrence of deposits in structurally complex terranes, and lack of lead and zinc enrichment in the ores (Kerswill, 1996).

Deposits are stratiform by definition, but in cases, the original geometry of the orebodies has been obscured by folding. However, lateral or down-plunge extents of orebodies are tens to hundreds of times greater than their thicknesses. The rocks that host the stratiform deposits, as well as, the orebodies themselves, are deformed principally by folding (Kerswill, 1996) (Figure 8-1).

In both sediment-hosted deposits and those occurring within mixed volcanic-sedimentary settings, gold is concentred in several discrete units of sulphide-iron-formation that are conformably interlayered with barren silicate-and/or carbonate-iron-formation (Kerswill, 1996).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 71

Figure 8-1: The two principal types of iron-formation-hosted gold deposits (from Kerswill, 1996). A) Gold restricted to late structures or to sulphide-iron-formation immediately adjacent to such structures. B) Gold occurs in thin, but laterally continuous units of well laminated sulphide-iron- formation as well as in sulphide-rich alteration zones adjacent to late structures. Example: Lupin mine, Homestake mine and probably Agnico-Eagle mine (Joutel).

Gold is, for the most part, relatively uniformly disseminated throughout the sulphide-iron formation of individual orebodies, although the late quartz veins contain modest amounts of coarse (visible) gold. Arsenic is a significant component in all sediment-hosted deposits, but is less common in deposits in mixed settings (Kerswill, 1996).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 72

Indeed, it is possible to identify two principal types of ore in sediment-hosted stratiform deposits based on arsenic content. Arsenic-rich sulphide-iron-formation occurs in the areas immediately adjacent to the late quartz veins or shear zones (Lupin mine (Bullis al. 1994; Geusebroek and Duke, 2004) and Homestake mine (Caddey et al., 1991)). Arsenic poor sulphide-iron-formation is more widely distributed and is the principal ore type in all deposits (Kerswill, 1996).

8.2 Orogenic gold occurrences related to longitudinal shear zones (Greenstone- hosted quartz-carbonate vein deposits)

Lode gold deposits (gold from bedrock sources: Figure 8-2) occur dominantly in terranes with an abundance of volcanic and clastic sedimentary rocks of a low to medium metamorphic grade (Poulsen, 1996). Greenstone-hosted quartz-carbonate vein deposits are a sub-type of lode-gold deposits (Poulsen et al., 2000). They correspond to structurally controlled complex epigenetic deposits hosted in deformed metamorphosed terranes (Dubé and Gosselin, 2005). The Sakami Lake (33F) and Guyer Lake (33G) area hosts a fair number of orogenic (or mesothermal) gold deposits with the same characteristics as deposits of this type found in the Abitibi sub-province (Dion et al., 2003).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 73

Figure 8-2: Inferred crustal levels of gold deposition showing the different types of lode gold deposits and the inferred deposit clan (from Dubé et al., 2001; Poulsen et al., 2000).

Greenstone-hosted quartz-carbonate vein deposits consist of simple to complex networks of gold- bearing, laminated quartz-carbonate fault-fill veins in moderately to steeply dipping, compressional brittle-ductile shear zones and faults with locally associated shallow-dipping extensional veins and hydrothermal breccias. They are hosted by greenschist to locally amphibolite facies metamorphic rocks of dominantly mafic composition and formed at intermediate depth in the crust (5-10 km). They are distributed along a major compressional to transtensional crustal-scale faults zones in deformed greenstone terranes of all ages, but are more abundant and significant, in terms of total gold content, in Archean terranes.

Greenstone-hosted quartz-carbonate veins are thought to represent a major component of greenstone deposit clan (Figure 8-2) (Dubé and Gosselin, 2005). They can coexist regionally with iron-formation-hosted vein and disseminated deposits as well as with turbidite-hosted quartz- carbonate vein deposits (Figure 8-3).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 74

Figure 8-3: Schematic diagram illustrating the setting of greenstone-hosted quartz-carbonate vein deposit (from Poulsen et al., 2000, pg29)

The main gangue minerals are quartz and carbonate with variable amounts of white micas, chlorite, scheelite and tourmaline. The sulphide minerals typically constitute less than 10% of the ore. The main ore minerals are native gold with pyrite, pyrrhotite, and chalcopyrite without significant vertical zoning. Arsenopyrite commonly represents the main sulphide in terranes at amphibolite facies of metamorphism (Dubé and Gosselin, 2005).

In the Sakami Lake (33F) and Guyer Lake (33G) area, the orogenic gold deposits consist of quartz ± tourmaline veins or veinlets, with minor sulphides, hosted in various lithologies and associated with major deformation zones, particularly along the boundary between the La Grande and Opinaca sub-provinces (Dion et al., 2003). Among these deposits, the Zone 32 (historical resources: 4.2 Mt at 2.1 g/t Au and 0.2% Cu, press release by Virginia Gold Mines, dated March 11, 1999) is a good example of this kind of deposit in the Sakami Lake (33F) and Guyer Lake (33G) area. Toward the south, the Eléonore gold deposit (Figure 5-14), owned by Goldcorp Inc., is present along the contact between the sediments and the volcanics within the contact zone between La Grande and Opinaca sub-provinces (Bandyayera and Houle, 2007).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 75

The emplacement of these deposits is early to late tectonic, and coeval with the emplacement of the orogenic gold deposits in the Abitibi sub-province (Dion et al., 2003). This mineralizing event is probably related to the final accretion and cratonization phase of the Superior province.

In terms of mining exploration for the discovery of a new gold deposit, at the geological province or terrane scale, geological parameters are common in highly fertile volcanosedimentary belts like La Grande greenstone belt (Figure 8-4). These parameters (Groves et al., 2003) are: 1- reactivated crustal-scale fault that focused porphyry-lamprophyre dyke swarms; 2 complex regional-scale geometry of mixed lithostratigraphic packages; and 3 – evidence for multiple mineralization or remobilization events.

Figure 8-4: Regional geology map of the Baie James area showing the various showings and exploration projects that border the tectonic contact between the La Grande and Opinaca Subprovinces.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 76

8.3 Roberto Style mineralization, Éléonore Project (from Ravenelle et al. 2010)

The Roberto gold deposit is located within a kilometer scale F2 fold hinge that affects upper- greenschist to amphibolites–facies turbiditic metagrewacke and paragneiss (Figure 8-5). Gold mineralization is primarily confined to a series of sub-parallel decameter-scale wide mineralized zones and is associated with a hydrothermal system characterized by calc-silicate-bearing veins and metasomatic replacement zones, potassic alteration, and tourmaline. The principal mineralized zone consists of a stockwork of quartz ± actinolite ± diopside ± biotite ± arsenopyrite- pyrrhotite veins and quartz-dravite-arsenopyrite veinlets. While most of the alteration and mineralized zones are deformed by structures attributed to D2, some occurrences appear to be controlled by D2 structures; Gold mineralization is thus interpreted as being pre- or early D2 (Ravenelle et al. 2010).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 77

Figure 8-5: Regional geological map of the Roberto gold deposit. Equal area nets show the distribution of lineation and S2 foliation measurements for the La Grande (LG) and Opinaca (Op) subprovince.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 78

8.4 Puffy Lake gold deposit-like occurrences (from Ostry and Halden, 1995)

The Puffy Lake gold deposit is located approximately 75 kilometres northeast of Flin Flon, Manitoba. Gold occurs with arsenopyrite in high metamorphic grade supracrustal rocks on the south flank of Proterozoic Kisseynew gneiss belt near the south margin of the Churchill structural province of the Precambrian Shield in Manitoba.

Free gold occurs with foliated arsenopyrite and pyrite within at least three laterally extensive, moderately dipping, parallel or close to parallel sheets that are up to 2 metres thick and conformable with layering and regional schistosity. These sheets occur within intermediate quartzofeldspathic biotite-bearing gneiss and are continuous from level to level within the mine. Mobilization of gold and sulfide minerals into structural traps occurred during folding and shearing events after formation of mineralization sheets. Three or, possibly, four periods of deformation have affected the host rocks to the Puffy Lake deposit.

The stratigraphy in the vicinity of the Puffy Lake deposit (Figure 8-6) comprises fine-grained, intermediate to mafic biotite- and amphibole-bearing of the Amisk Group (host of gold mineralization), greywacke-derived gneiss of the Burntwood Metamorphic Suite and Missi Metamorphic Suite quartzofeldspathic gneiss (host of gold mineralization). Large tonalitic-granitic bodies have intruded Amisk rocks.

Figure 8-6: Schematic cross-section shows the distribution of mineralization with respect to layering and axial plane of fault (Ostry and Halden, 1995).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 79

8.5 Witwatersrand paleoplacer model (a low-grade metamorphosed siliciclastic sediment basin)

The Witwatersrand Basin in South Africa is one of the best-preserved records of fluvial sedimentation on an Archean continent. The basin hosts the world’s biggest gold resource in thin pebble beds, but the process for gold enrichment is still being debated. Mechanical accumulation of gold particles from flowing river water is the prevailing hypothesis, yet there is evidence for hydrothermal mobilization of gold by fluids invading the metasedimentary rocks after their burial (Heinrich, 2015).

The Witwatersrand Basin formed over a period of 360 Ma between 3074 and 2714 Ma. Pulses of sedimentation within the sequence and its precursors were episodic, occurring between 3086- 3074 Ma (Dominion Group), 2970-2914 Ma (West Rand Group) and 2894-2714 Ma (Central Rand Group). Detritus was derived from a mixed granite-greenstone source of two distinct ages; the first comprises Barberton-type greenstone belts and granitoids > 3100 Ma old, and the second consists of the greenstone belt-like Kraaipan Formation and associated granitoids ≤ 3100 Ma old. Subsequent granitoid plutonism was episodic and coincided with hiatuses in sediment deposition, but continued throughout the evolution of the basin. Many of the provenance granitoids are characterized by hydrothermal alteration, are geochemically anomalous with respect to Au and U, and may represent viable source rocks for palaeoplacer mineralization. Tectonically, the basin evolved in response to processes occurring within a Wilson cycle, associated with the encroachment and ultimate collision of the Zimbabwe and Kaapvaal cratons. Metamorphism of the Witwatersrand Basin occurred at ca. 2500, 2300 and 2000 Ma. The first two events coincided with the progressive loading of the basin by Ventersdorp and Transvaal cover sequences, whereas the last reflects intrusion of the Bushveld Complex and/or the Vredefort catastrophism.

Mineralization is concentrated in the conglomerates of the Central Rand Group and is represented by a complex paragenetic sequence initiated by early accumulation of detrital heavy minerals. This was followed by three stages of remobilization caused by metamorphic fluid circulation. An early event of authigenic pyrite formation at 2500 Ma was followed at 2300 Ma by maturation of organic material, fluxing of hydrocarbon bearing fluids through the basin and the radiolytic fixation of bitumen around detrital uraninite. This was followed at around 2000 Ma by peak metamorphism which resulted in the widespread redistribution of gold and the formation of a variety of secondary sulphides. Post-depositional fluid conditions were such that metal solubility was low and precipitation mechanisms very effective, resulting in the superimposition of both primary and secondary mineralization (Robb, 1995).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 80

The Witwatersrand orebodies show evidence of interaction with hydrothermal fluids that caused the precipitation of gold. However, the evidence of hydrothermal mineralization emphasizes the location of the gold in the textural positions that can only postdate host sediment deposition, it does not give answers as to the ultimate sources of the Au in the mineralizing fluids. Some of these evidences can only be explained by original introduction of gold, pyrite and uraninite into the host conglomerates during sediment deposition, derived from a variety of sources that are older than the host sediments rocks (Frimmel, 2005).

Paleoplacer uranium deposits occur in Archean to Early Proterozoic fluvial to littoral clastic sedimentary sequences, dominated by quartz arenite units, which are older than about 2.4 Ga (Roscoe, 1996). The host units are pyritic, mature arenites, and oligomictic (quartz pebble) conglomerates produced by the multiple cycles of erosion and redeposition. Deposition of these sequences has occurred on and adjacent to stable Archean cratons and at the margins of, and within, intracratonic grabens or aulacogens, or within basins formed by downwarping due to tectonic processes other than rifting.

Conglomerates of the Apple formation bear resemblances to both the auriferous and uraniferous paleoplacers of the Witwatersrand basin, but their ratio of U/Au is very low, suggesting a distal environment of formation (Paquette, 1997). The lenticular conglomerates of Apple Formation are the Archean paleoplacers the most uraniferous known of the Canadian Shield (Paquette, 1997). The radioactive horizons were present in three types (Paquette, 1997): 1- thin layers (10 to 20 cm) of rusty conglomerate, 2- lenticular channel (30 cm to 2.6 m) of rusty conglomerate with joined fragments and 3- locally decimetric layer of coarse rusty arenite. These horizons have a weak lateral extension (less than 50 m). The main source of uranium is the conglomerates (90%) and occasionally, the coarse arenites (10%) host uraniferous mineralization. Robertson et al. (1986) have observed the highest uranium assay associated with 10% pyrite. Generally, the most radioactive units were rusty conglomerates comprising 3% to 10% pyrite (Paquette, 1997).

Apple Formation paleoplacers are slightly anomalous in gold (260 ppb. Doucet, 1995, comm. pers.) However, the best gold values are found in shear zones within the Apple Formation (i.e. conglomerate unit with fuchsite at 0.27 ppm Au) which would suggest a possible hydrothermal enrichment in gold, sulfide and sulfarsenide where shear zone(s) structures cut conglomeratic units (Paquette, 1998).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 81

9. Exploration

The following section summarizes the exploration work and results carried out by Matamec and CSM from 2013 to 2017.

9.1 Prospecting and Channel Sampling

A prospecting and channel sampling program was completed on the J.R., Peninsule, and Île showings in the summers of 2013 to 2016. A total of two hundred and ninety-four (294) prospecting rock samples were submitted to ALS Val d’Or for analysis, two hundred and forty-five (245) from the J.R. showing, forty-seven (47) from the Peninsule showing, and two (2) from the Île showing. The majority of the samples returned gold values around the detection limit with the exception of three (3) basalt samples from the J.R. showing between 1.16 and 5.36 g/t Au, and three (3) schist samples with visible arsenopyrite from the Peninsule showing between 1.17 and >10.0 g/t Au.

A compilation of the anomalous surface samples highlights the prospecting work completed to date (Figure 9-1). A significant number of the showings have clusters of samples above background along with a few samples above 5g/t Au. These occur in various geological contexts but tend to be located proximal to the tectonic contact between the Opinaca and Lagrande Subprovinces.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 82

Figure 9-1: Topographic map showing samples collected from surface (a few from shallow drilling) that show the distribution of anomalous gold grade.

Five (5) channel sample lines were dug on the Peninsule showing and nine (9) channel samples were sent to ALS in Val d’Or for analyses, a few of which returned low grade Au results (Figure 9-2) (Table 9-1).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 83

Table 9-1: 2015 channel samples on the Peninsule showing.

UTM NAD 83 Zone 18 Interval (m) Channel Direction Length Sample Au ppm 0.01 Easting Northing Showing ID (°) (m) From To ID Py-SAA Au (m) (m) 0 1 575901 0.173 R1 376222 5897571 340 2 Peninsule 1 2 575902 0.327 0 1 575903 0.025 R2 376227 5897572 340 3 Peninsule 1 2 575904 0.045 2 3 575905 0.127 0 1 575906 0.383 R3 376232 5897574 340 2 Peninsule 1 2 575907 0.741 R4 376228 5897579 270 1 Peninsule 0 1 575908 0.026 R5 376230 5897581 340 1 Peninsule 0 1 575909 0.048

Kalmia Showing

Simon Showing

Peninsule 2 Showing

Peninsule 1 Showing

Legend

Roads &Access

Lakes

Elevation Contours

Property Limit

Showings

Channels

Outcrops

Simon Showing Rock Samples: 45.9g/t Au, 2.04g/t Au, 1.17g/t Au

Figure 9-2: 2015 channel samples taken on the Peninsule showing.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 84

9.2 Geochemical Surveys

A B-horizon geochemical soil sampling survey was completed during the summer of 2015 on the Peninsule showing (Figures 9-3 to 9-5). A total of 729 samples were taken and the results were interpreted by Aline Leclerc, géo.. The sampling lines were spaced by about 150 m to 175 m and each sample on the lines were set apart by approximately 75m to 90 m. A correlation generally exists between Ba-Co-Cr-Mn-Ni-Zn-V with higher concentrations at the center of the Peninsule showing arranged generally NE-SW. Four (4) priority Au targets were identified (C, E, J, L) that do not necessarily coincide with higher concentrations of the above-mentioned elements. Further details are available in the report titled “Propriété Sakami, Rapport d’une champagne d’échantillonnage pédogéochimique (horizon B) sur trois secteurs de la propriété Sakami, Secteur JR, secteur Île et secteur Péninsule” submitted to Canadian Strategic Metals by Gestion Aline Leclerc Inc. on the 12th of December 2015.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 85

Sakami Lake

Kilometers

Legend B Horizon Au Anomalies (percentile) Peninsule Showing

Figure 9-3: Geochemical soil sampling Au anomalies Peninsule showing.

Soil sampling surveys were completed on the J.R. and Île showings in 2013. A report of soil anomaly interpretation was provided by Aline Leclerc and identified six (6) priority Au targets (A, B1, H, I, J2, and K1) on the J.R. showing and two (2) priority Au targets (A and B) on the Île showing.

Two types of elemental groups can be discerned from the results of the J.R. showing aside from the Au anomalies: type 1 of Co-Cr-Cu-Mn-Ni-V-Zn with a lithologic association, and type 2 of As- Ba-Bi-Mo-Pb elements that show an irregular association with gold anomalies.

The Au targets of the Île showing are associated with elevated Pb and Cu on 22/27 samples for the A target while the B target is locally associated with As-Ba-CoCr-Cu-Ni-Mn-Mo-V-Zn and also coincides well with Pb anomalies.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 86

JR Showing 43 Showing 9.6 Showing

Sakami Lake

Kilometers

Legend

B Horizon Au Anomalies (percentile) JR Showing

Figure 9-4: Geochemical soil sampling Au anomalies JR showing.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 87

Sakami Lake

Kilometers

Legend

B Horizon Au Anomalies (percentile) Île Showing

Figure 9-5 Geochemical soil sampling Au anomalies Île showing.

9.3 Geophysical Surveys

A magnetic and a VLF-EM geophysical surveys were completed by Dynamic Discovery Geoscience on the Property in 2015 and 2016. A summary of the geophysical survey reports is outlined below.

The Peninsule sector, located on map sheet 033F02, was surveyed in 2015 from June 23rd to July 1st 2015 under the supervision of Mr. Simon Girard, for a total of 56.0 linear km. The second survey was conducted from June 30th to August 12th 2016, also under the supervision of Mr. Simon Girard. The 2016 focus was the Île sector within NTS map sheet 033F07 and the JR West and La Pointe sectors found in the 033F02 map sheet. The goal of both surveys was to characterize the sub-surface rocks with respect to their signature to the magnetic and VLF-EM methods, and to identify responses possibly associated with mineralized occurrences.

Data compilation including editing and filtering, quality control (QC), and final data processing was performed by Joël Dubé, P.Eng. Processing was performed on high performance computers optimized for quick daily QC and processing tasks. Geosoft software Oasis Montaj version 8.5.5

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 88 was used. The vertical in-phase component was further processed with a Fraser filter which resulted in a signal with maximum amplitude at the inflexion point of the input signal. This parameter was gridded in the same manner as for the magnetic data. The Fraser filtered in- phase component effectively enables identification of the conductors in an intuitive way by looking at maximum amplitude lineaments on its contour map, and was used to identify and prioritize targets. Based on the strength of the VLF-EM conductor, its continuity over several lines, its association to a magnetic lineament or its location close to a structural feature possibly favourable to mineralization, VLF-EM conductor axes were grouped by priority in order to guide follow-up efforts.

The Peninsule survey grid consisted of a network of 41 lines oriented N132 and spaced every 100 m. Survey lines varied from 475 to 1800 m in length, for a total survey production of 56.0 km. The coil separation was always about 40m to get a deep penetration. Out of the 28 VLF-EM conductors identified in the survey area, 9 are deemed of first priority and 7 of second priority. The area located near the interpreted contact between intrusive/volcanic and sedimentary rocks (GD-1 and 2 boundary) is of particular interest (Figure 9-6).

The JR West survey grid consisted of a network of 59 lines oriented N132 and spaced every 100 m. Survey lines varied from 100 to 2,475 m in length, for a total survey production of 88.78 km. Based on the geophysical interpretation, the JR-1, JR-14, and JR-18 are considered first priority targets by Dynamic Discovery Geoscience (Figure 9-7).

The Île survey grid consisted of a network of 50 lines oriented N132 and spaced every 100 m. Survey lines varied from 150 to 2,475 m in length, for a total survey production of 84.96 km. The Île area is definitely affected by the most numerous and strong VLF-EM anomalies of the survey and a total of 39 VLF-EM conductors were outlined in this area. Out of them, 10 are deemed of first priority and 14 of second priority; see the geophysical report for specifics (Figure 9-8).

The La Pointe survey grid consisted of a network of 18 lines oriented N132 and spaced every 100 m. Survey lines varied from 37.5 to 1,050 m in length, for a total survey production of 10.9 km. Although the La Pointe area did not show very strong magnetic signal contrasts compared to the JR West and Île sectors, 3 geophysical domains were defined based on more subtle responses differences with the LP-3 considered as a priority geophysical target (Figure 9-9).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 89

Figure 9-6: Peninsule sector Fraser filtered in-phase component and geophysical interpretation.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 90

Figure 9-7: JR West Fraser filtered in-phase component and geophysical interpretation.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 91

Figure 9-8: Île Fraser filtered in-phase component and geophysical interpretation.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 92

Figure 9-9: La Pointe Fraser filtered in-phase component and geophysical interpretation.

The combined magnetic and VLF-EM survey conducted in the summer of 2016 by Consul-Teck on the JR West, Île and La Pointe areas of the Sakami Property was successful in better characterising the physical properties distribution within the area, which could support a better understanding of the geological setting. Several magnetic lineaments, conductive axes and possible faults were interpreted based on the results. As well, different geophysical domains were identified, which could relate to different rock types. Some of the VLF-EM conductors interpreted were identified as potential exploration targets and prioritized for further investigation.

9.4 2016 Exploration

The 2016 exploration discussed below was sourced and translated from Rapport de Travaux sur la Propriété Sakami, préparé pour Métaux Stratégiques du Canada par Jean-Sébastien Lavallée, géologue, Consul-Teck Inc, 12 Décembre 2016.

A small exploration camp was constructed to facilitate prospecting and mapping in the Peninsule area (Figure 9-10). The camp was designed to accommodate eight (8) personnel and material to build the camp was delivered by truck from Val d’Or to the boat launch.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 93

Figure 9-10: Peninsule camp.

A prospecting and channel sampling program was completed on the Peninsule, Île, JR West, and JR sectors, totalling five hundred and one samples (501) and one hundred and sixty-eight metres and fifty centimetres (168.5 m). The samples were submitted to ALS Val d’Or for analysis.

Channel samples were completed on showings of the Peninsule and Île sectors during the 2016 drill campaign. The two showings sampled on the Peninsule sector were the Simon showing, consisting of nineteen (19) channels (Figure 9-11), and the Kalmia showing, consisting of fifteen (15) channels. An additional three (3) channels were sampled in the northeast area of the Peninsule sector. Finally, seven (7) channels were completed on the Bouleau d’Or showing of the Île sector. The purpose of the channel sampling was to validate previous gold sample spikes and to examine the continuity of the showings. Significant results are presented in Table 9-2.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 94

Figure 9-11: Part of a channel sample (R5) from the Simon showing. This particular sample shows a 20.8 g/t Au value.

Table 9-2: 2016 channel sample significant results.

UTM NAD 83 Zone 18 Interval (m) Channel Sample Easting Northing Azimuth (°) Showing Au (g/t) ID From To ID (m) (m) R2 0 1 Simon 375308 2.03 R2 376228 5897573 214 5 6 Simon 375313 3.90 R2 12 13 Simon 375320 1.10 R3a 376224 5897575 208 0 1 Simon 375327 1.51 376219 5897567 208 R3c 376216 5897568 205 3 4 Simon 375339 17.45 R5 0 1 Simon 375341 20.80 R8 376215 5897577 212 0 1 Simon 375356 1.63 R9c 2 3 Simon 375361 1.09 376211 5897573 206 R9c 3 4 Simon 375362 1.72

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 95

R11a 376203 5897570 203 1 2 Simon 375369 1.49 R12 376199 5897569 216 0 1 Simon 375371 0.97 376198 5897563 197 R14 0 1 Simon 375376 1.87 R1 380595 5902627 180 2 3 Bouleau d'Or 375392 3.11

Prospecting in 2016 resulted in a total of five hundred and one (501) grab samples, which were submitted to ALS Val d’Or for analysis. Three hundred and twenty-nine (329) samples were taken on the Peninsule sector, one hundred and thirty (130) samples were taken on the Île sector, and twenty-one (21) were taken on each the JR and JR West sectors. Figure 9-4 presents significant results.

Table 9-3: 2016 grab sample significant results.

UTM NAD 83 Zone 18 Sample Sector Au (g/t) Easting (m) Northing (m) ID JR 379839 5901777 647858 1.07 Île 380593 5902631 647891 2.21 Île 380594 5902632 731377 5.05

The prospecting on Peninsule was facilitated by historic cut lines, spaced at 100 m and oriented perpendicular to the main lithologic trends. A total of forty-one (41) cut lines were walked to prospect on outcrop. Samples were divided based on lithology or textural variation. Sampling on the JR and JR West sectors focused on the iron formation outcrops, which had previously returned the best gold grades. The outcrops were outlined by the medium-strong to very strong magnetic signatures in the geophysical surveys. Grab samples selected on the Île sector focused on soil geochemistry anomalies detected in summer of 2015.

Mapping of the Peninsule sector was completed in greater detail during summer of 2016. The Simon showing was examined in particular detail to develop a better understanding of the structural controls on the gold mineralization. It was mapped on a 2 x 2 metre grid on millimetre graph paper. The showing consists of folded and faulted basalt, sediments, and iron formation, presenting an ideal trap for deposition of mineralized fluids (Figure 9-12 and Table 9-3).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 96

LEGEND

Showing 2015 Channels Granite Peridotite Iron Formation 2016 Channels Granodiorite Gneiss Basalt 2016 Grab Sample Tonalite Paragneiss 2016 Channel Sample Quartz veins Wacke

Figure 9-12: 2016 mapping of the Simon showing.

The Kalmia showing was mapped in a similar fashion to the Simon showing (2 x 2 metre grid). The showing consists of felsic intrusive, tonalite, granite, and granodiorite hosted within metasediments. Figure 9-13 displays concentric clusters and asymmetric veinlets of pyrrhotite hosted in tonalite. This type of mineralization is typical of the Kalmia showing, suggesting the passage of mineralized fluids enriched in gold within the felsic intrusive rocks of the Peninsule sector.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 97

Figure 9-13: 2016 grab sample of the Kalmia showing.

Mapping of the Île sector located northeast of the Péninsule sector outlined an assemblage of volcanics in the northeast and meta-sediments in the southwest along regional deformation corridors. Several theoretical faults define the contacts between different geological units. The Bouleau d’Or showing is located in this sector, and consists mainly of altered volcanic rocks and basalt in contact with discontinuous iron formation segments (Figure 9-14).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 98

Figure 9-14: Altered basalt in contact with iron formation, Bouleau d’Or showing.

Detailed mapping of the Péninsule sector was completed during the exploration campaign of 2016; results of the mapping are outlined in section 7.3.11.1.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 99

10. Drilling

The following information discusses the 2015, 2016 and 2017 drill campaigns. The effective date of this report is October 31st, 2017, which is the date upon which SGS received the last analytical results from the 2017 drill campaign.

10.1 Methodology

CSM) implemented QA/QC procedures to ensure best practices in sampling and analysis of the core samples. Drill collars were located with a handheld GPS. Front sights and back sights were identified with pickets and oriented with a compass prior to installation of the drill on the setup. The sights were used to assist CSM staff to align the drill. Drilling was completed by Forage Val d’Or and the core size was NQ.

Core logging was completed by staff of CSM or geologists contracted by CSM. The software used to manage the drill hole data is Gems™ Logger. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. The samples were limited by the lithology and zones of alteration and zones of mineral enrichment. In general, all the paragneiss was sampled and samples average 1.5 m lengths. RQD is included in the drill logs, recovery is good. Drill core is stored in wooden core boxes arranged in covered core towers on site at the camp located adjacent to the La Pointe showing. The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory in Val-d'Or, Quebec for analysis. The samples were weighed and identified prior to sample preparation. All samples were analyzed by fire assay with AA finish on a 30g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.

10.2 2015 Campaign

During March of 2015, CSM completed a drill campaign of seven (7) drill holes totalling 2,049 m and 498 core samples on the La Pointe sector. Down-hole surveys were taken approximately every 50 m. Details of the drill holes are provided in Table 10-1 and Figure 10-1 displays the collar locations. Significant results are presented in and Figure 10-2.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 100

Table 10-1: 2015 drill hole information.

UTM Coordinates (m) Hole ID Azimuth (°) Dip (°) Length (m) Easting Northing Elevation PT-15-84 375124 5895172 186 60 -70 264 PT-15-85 375168 5895187 186 60 -70 201 PT-15-86 375216 5895205 187 60 -70 168 PT-15-87 375075 5895143 190 60 -70 231 PT-15-88 375070 5895087 199 70 -70 372 PT-15-89 375045 5895044 199 70 -70 390 PT-15-90 375046 5895015 201 70 -70 399

Figure 10-1: 2015 drilling on the La Pointe sector.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 101

PT-15-84: 48.50 m of PT-15-85: 45.50 m of 1.47 1.34 Au ppm including Au ppm including N 6.50 m of 3.03 Au ppm 7.50 m of 3.84 Au ppm 7.50 m of 2.50 Au ppm 11.00 m of 1.74 Au ppm

PT-15-87: 9.60 m of 6.86 Au ppm including 6.50 m of 9.49 Au ppm

Mineralized Zone 100 m

Figure 10-2: Location of select 2015 significant results La Pointe sector.

Table 10-2: 2015 significant drill hole mineralized intercepts.

Hole ID From (m) To (m) Length* (m) Au (g/t) Zone PT-15-84 169.00 217.50 48.50 1.34 Zone 25/ Zone 22 merge Including 169.00 175.50 6.50 3.03 Zone 25 Including 210.00 217.50 7.50 2.50 Zone 22 PT-15-85 148.50 194.00 45.50 1.47 Zone 25/ Zone 22 merge Including 148.50 156.00 7.50 3.84 Zone 25 Including 183.00 194.00 11.00 1.74 Zone 22 PT-15-86 112.10 125.75 13.75 0.94 No Assigned Zone 142.50 165.00 22.50 1.41 Zone 22 PT-15-87 219.40 229.00 9.60 6.86 Zone 25 Including 220.50 227.00 6.50 9.49 Zone 25

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 102

PT-15-88 322.50 346.50 24.00 0.96 Re-interp/ Zone 22 Including 338.60 339.45 0.85 10.65 Zone 22 PT-15-89 255.30 258.10 2.80 3.32 No Assigned Zone 334.5 387.00 52.50 0.53 Re-interp/ Zone 25 Including 379.50 384.00 4.50 2.39 Zone 25 Including 379.50 387.00 7.50 1.94 Zone 25 PT-15-90 354.00 396.00 42.00 0.63 Re-interp/ Zone 25 Including 391.50 396.00 4.50 1.98 Zone 25 *core length; true width of mineralized zone is estimated at 60 to 85% of the core length

10.3 2016 Campaign

During summer of 2016, CSM completed a drill campaign of nine (9) drill holes totalling 2,058 m and 659 core samples on the La Pointe sector. Down-hole surveys were taken approximately every 30 to 40 m. Details of the drill holes are provided in Table 10-3 and Figure 10-3 displays the collar locations. Significant results are presented in Table 10-3 and Figure 10-3 respectively.

Table 10-3: 2016 drill hole information.

UTM Coordinates (m) Azimuth Length Hole ID Dip (°) Easting Northing Elevation (°) (m) PT-16-91 375124 5895172 186.00 25 -70 300 PT-16-92 375111 5895140 198.00 15 -70 420 PT-16-93 375070 5895087 199.00 15 -70 348 PT-16-94 375355 5895000 218.00 130 -50 198 PT-16-95 375550 5895110 195.00 20 -60 150 PT-16-96 375550 5895110 195.00 75 -50 126 PT-16-97 375593 5895056 197.00 7 -70 165 PT-16-98 375655 5895030 186.00 0 -70 150 PT-16-99 375655 5895030 180.00 0.30 -46.90 201

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 103

PT-16-92: 21.05m of 4.94g/t Au N

PT-16-91: 43.3m of 2.21g/t Au Including 11.5m of 3.46g/t Au

PT-16-93: 27.0m of 1.83g/t Au

PT-16-95 PT-16-93 PT-16-96

PT-16-97

PT-16-98 PT-16-99 PT-16-94 Mineralized Zone 100 m

Figure 10-3: Location of select 2016 significant results.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 104

Table 10-4: 2016 significant drill hole mineralized intercepts.

Hole ID From (m) To (m) Length* (m) Gold g/t Zone PT-16-91 157.5 222 64.5 1.62 Zone 25/Zone 22 merge Including 165.2 208.5 43.3 2.21 Zone 25/Zone 22 merge Including 176 187.5 11.5 3.46 Zone 25/Zone 22 merge PT-16-92 203.6 252.15 48.55 2.52 Zone 25/Zone 22 merge Including 206.95 228 21.05 4.94 Zone 25/Zone 22 merge Including 206.95 217.5 10.55 6.35 Zone 25/Zone 22 merge Including 206.95 225 18.05 5.38 Zone 25/Zone 22 merge PT-16-93 252 279 27 1.87 Zone 25/Zone 22 merge Including 253 258 5 3.14 Zone 25/Zone 22 merge Including 271 277 6 2.69 Zone 25/Zone 22 merge PT-16-96 124 125 1 1.73 No Assigned Zone PT-16-97 136 156.5 20.5 0.55 No Assigned Zone PT-16-99 66 69 3 1.33 No Assigned Zone 78 81 3 1.08 No Assigned Zone 91.5 93 1.5 1.97 No Assigned Zone 124.5 127.5 3 1.07 No Assigned Zone 169 170.5 1.5 2.86 No Assigned Zone *core length; true width of mineralized zone is estimated at 60 to 85% of the core length

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 105

10.4 2017 Campaign

During the winter drilling campaign, in early 2017, Consul-Teck Exploration Inc from Val d’or was hired to supervise activities and the core description. Forage Val d’Or from Val d’Or, Québec, was mandate for the drilling activities. Seven (7) holes have been drill for a total of 2,925m of drill core. The objective was to determine possible extensions west of the zone 22 and 25. Details of the drill holes are provided in Table 10-35 and Figure 10-34 displays the collar locations in green. Significant results are presented in Table 10-6.

Table 10-5 2017 Drill hole information

UTM Coordinates (m) Hole ID Azimuth (°) Dip (°) Length (m) Easting Northing Elevation PT-17-100 374988.7 5895033 199.17 15.8 -51.6 396 PT-17-101 374988.7 5895033 199.17 15 -65 405 PT-17-102 374988.7 5895034 199.17 15 -77 498 PT-17-103 374900.8 5895053 195.18 15 -50 438 PT-17-104 374900.9 5895053 195.18 15 -65 33 PT-17-104-A 374900.9 5895053 195.18 15 -65 315 PT-17-105 374800 5895000 190.38 19.8 -46.5 597 PT-17-106 375111 5895150 198.99 340 -50 276

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 106

Figure 10-4: Location of 2017 drill holes

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 107

Table 10-6: 2017 significant drill hole mineralized intercepts.

Hole ID From (m) To (m) Length* (m) Gold g/t Zone PT-17-100 295.5 307.5 12 1.02 Zone 25 Including 304.5 307.5 3 2.07 Zone 25 PT-17-101 311.6 340.3 28.7 1.96 Zone 25 Including 313.1 321 7.9 4.11 Zone 25 PT-17-102 328.5 358.5 30 1.7 Zone 25 Including 354 358.6 4.5 4.26 Zone 25 367.5 376.5 9 1.32 Zone 25 PT-17-104A 240 243 3 3.82 Zone 25 PT. 17-105 586.5 592.5 6 0.73 Zone 25 PT-17-106 196.5 207 10.5 1.17 Zone 25 *core length; true width of mineralized zone is estimated at 60 to 85% of the core length

11. Sample Preparation, Analyses and Security

During the 2013-2014 drill campaign, analytical services were transferred to ALS Val D’Or and no longer Laboratoire d’Analyse Bourlamaque Ltée in Val d’Or.

11.1 Sample Preparation

11.1.1 Core Sampling

Core samples were taken based on the lithology, alteration type and intensity (especially silicification), the presence of quartz veinlets, and the presence of sulphide mineralization. Historic core and most of the 2013 campaign was sampled at approximately 1 m intervals. The second half of the 2013-2014 campaign (drill holes starting with “PT-14”) were sampled at approximately 1.5 m lengths. During the 2015, 2016 and 2017 campaigns core was sampled at mainly 1.5 m lengths and respects lithologic contacts.

After being logged, the core was split in half using a core splitter; one half was placed in a poly bag with a sample ticket to send to the laboratory while the other half was returned to the core box as witness with the corresponding sample ticket placed at the beginning of the sample

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 108 interval. The two-metallic bowls used to catch either side of the split core were then well cleaned before proceeding to the next sample.

11.1.2 Surface Sampling

Prospection samples were taken to identify the presence of mineralization or substance of interest. Each sample was put in an individual bag with an independent sample ID tag. A witness sample identified by a ticket bearing the same number was left at the sample site and its position was taken either by GPS, or in relation with grid line cuts. Each small sample bag was closed and placed with about twenty (20) other samples in a large bag to be sent to an assay laboratory.

11.1.3 Surface Channel Sampling

Surface channel sampled were taken from outcrops exposed by stripping or by trenching. The sample length was based on the appearance of sulphide content, on the degree of alteration or on the interesting lithological aspect of the host-rock. The samples taken with the diamond saw were cut perpendicular to the S1 foliation and usually measured one or half a metre. Collection of the samples was done in the same nature as the surface sampling.

11.2 Analyses

11.2.1 Laboratory Certification

ALS Val D’Or is an accredited testing laboratory having been assessed by the Standards Council of Canada (SCC) and found to conform with the requirements of ISO/IEC 17025:2005 (CAN-P- 4E) and the conditions for accreditation established by SCC (www.alsglobal.com).

11.2.2 Analytical Procedure

The samples were delivered, in secure tagged bags, directly to the analytical facility for analysis, in this case the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 109

11.3 Quality Control and Quality Assurance Programs

Prior to 2007, no preparation method, no analytical testing laboratory method and no quality control program were employed by personnel of Matamec. The sample method and approach were audited by Arthur Douglas McLaughlin, P.Geo., in 2002 by completion of an independent sampling program including insertion of blank material and analytical standards. A total of 10% of the core library was randomly sampled and the results were concordant with Matamec’s original data.

For 2013 – 2016 the quality control consisted of one blank, one double, one low and one high grade standard inserted within every forty (40) samples. It is unknown what follow up procedure is in place to monitor the control samples.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 110

12. Data Verification

12.1 Verification Re-Assays

The sample method and approach were audited by Arthur Douglas McLaughlin, P.geo., in 2002 by completion of an independent sampling program including insertion of blank material and analytical standards. A total of 10% of the core library was randomly sampled and the results were concordant with Matamec’s original data. He declared that there is not any indication in the procedures of drilling, core handling and sampling, sampling methods and approach that could have a negative impact on the reliability of the reported assay results.

12.2 Database verification

SGS performed a verification of the drill hole database. Several minor issues were addressed that have no impact on the quality of the data.

12.3 Site Visit

A site visit was conducted by Claude Bisaillon, ing. SGS Project Engineer, on July 29th, 2016. The goal of the visit was to evaluate the progress of the 2016 campaign and familiarize with the project. The 2016 drill campaign on the La Pointe sector had recently finished. No independent samples were taken; at that point, a technical report was not included in the mandate. The site visit included discussions of the Property geology and exploration progress on each sector, as well as review of the drill core from the 2016 campaign. The visit also included a fly-over of relevant showings with assistance of a helicopter. Showings seen from the air include the La Pointe, Peninsule, Île, JR, and JR West, Simon, 9.6, and the Kalmia showing. At the beginning of 2017, a drilling campaign has been completed. Amanda Landriault, formerly of SGS, visited the site near the end of the winter 2017 drilling program to witness the drilling and check on progress. No other visit has been carried out by SGS.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 111

Figure 12-1: View looking west of drill pads PT-16-96 and PT-16-99 on the La Pointe sector.

12.4 Conclusion

SGS is of the opinion that the site is well maintained and clean. The drill core facility is well organized, secure and easily accessible. The technical staff operating the campaign has a good understanding of the deposit and strategic plans to advance the project.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 112

The following sections 13 to 22 do not apply to this document.

13. Mineral Processing and Metallurgical Testing

This section is not applicable to this report.

14. Mineral Resources Estimate

This section is not applicable to this report.

15. Mineral Reserves Estimate

This section is not applicable to this report.

16. Mining Methods

This section is not applicable to this report.

17. Recovery Methods

This section is not applicable to this report.

18. Project Infrastructure

This section is not applicable to this report.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 113

19. Market Studies and Contracts

This section is not applicable to this report.

20. Environmental Studies, Permitting and Social or Community Impact

This section is not applicable to this report.

21. Capital and Operating Costs

This section is not applicable to this report.

22. Economic Analysis

This section is not applicable to this report.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 114

23. Adjacent Properties

Over 16 junior and mid-tier mining companies have mineral claims surrounding Matamec’s Sakami Gold Project (Figure 23-1). These companies are:

1. Hinterland Metals Inc.;

2. CSM (Métaux stratégiques du Canada);

4. Harfang Exploration Inc.;

3. Ressources Sirios and Ressources Sphinx; and,

5. Other various junior mining companies and individuals.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 115

Figure 23-1 Sakami's adjacent Properties

23.1 Hinterland Metals Inc.

Hinterland Metals Inc (“Hinterland”) holds forty (40) claims to the northeast of the Sakami property, known as the Sakami Gold claims. Hinterland is a junior company focused on precious and base metal exploration, mainly in the Abitibi Greenstone Belt. The Sakami Gold claims encompass 5.5 kilometers of the Opinaca-La Grande contact zone and consist mainly of basalt meta-volcanic rocks in contact with tonalite intrusive rocks, providing an ideal setting for shear hosted gold. To date, the property remains very grassroots with little previous work documented within the claim block.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 116

23.2 CSM (Métaux stratégiques du Canada)

The Sakami property is a joint venture (50/50%) project between Matamec Explorations Inc. (“Matamec”) and Canadian Strategic Metals (“CSM”). However, some claims at the southern and the western extremities of the joint venture are still owned by CSM without the participation of Matamec.

The Sakami-Apple Property straddles the structural contact between the Opinaca and La Grande sub-provinces of the Archean age Superior structural province. This is a major structural corridor that occurs on surface as a 100-kilometer-long "S" shape feature trending northeast to southwest. The Sakami Property covers approximately thirteen kilometers of this structure, which is up to 500 meters wide on the property. Since 1998 Matamec has made many new gold discoveries within or near this structural zone.

23.3 Ressources Sirios ans Ressources Sphinx

Ressources Sirios Inc and Ressources Sphinx Ltee completed in 2016 and 2017 a till sampling program on the Cheechoo- Éléonore Trend project. It suggests a local source for gold detected in tills from the two priority targets. A follow-up program on these two targets was recently completed. The objective of the program was to attempt to establish the primary source of the gold. The targets and showings that will present the best gold potential will be eventually tested by drilling. The joint venture Cheechoo- Éléonore Trend claims lay on the same trend as Ressources Sirios Inc’s Cheechoo deposit, and the Éléonore gold mine which suggest that there is a regional NW-SE gold trend (Figure 23-2). The geological setting of these claims is similar to that of Cheechoo; strong degrees of metamorphism and a similar gold-arsenic relationship (http://sphinxresources.ca).

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 117

Figure 23-2: Sphinx Resources Interpreted Gold Trend. Note trend cross-cuts Matamec’s property Red star represent the center of Sakami property (source: Sphinx website)

23.4 Harfang Exploration Inc.

The Lac Menarik property is located 48 kilometres south of Radisson in James Bay territory (NTS sheet 33F/06), Quebec, Canada. The project is located 5 kilometres east of the James Bay highway and 25 kilometres south of the La Grande airport. The property is made of 83 claims totalling 4,265 hectares and is 100 % held by Harfang. The property is accessible by tractor road or boat from James Bay highway and by floatplane or helicopter from La Grande airport. (http://www.harfangexploration.com). It is located about 40 km West-northwest of the Sakami property.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 118

23.5 Goldcorp Inc.

Goldcorp’s producing Éléonore mine is located approximately 90 km southeast of the Sakami deposit, within the contact zone between the La Grande and Opinaca Subprovinces. The gold mineralization is hosted in quartz-tourmaline-arsenopyrite stockwork veins in microcline and tourmaline replacement zones. The sedimentary host rock consists mainly of poly-deformed greywacke. Gold production totalled 268,100 ounces in 2015 (www.goldcorp.com).

Information on claims held by independent prospectors was not available.

SGS has not been able to verify the adjacent property information and that the information is not necessarily indicative of the mineralization on Matamec’s Sakami Property that is the subject of this report.

24. Other Relevant Data and Information

This section is not applicable to this report.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 119

25. Interpretations and Conclusions

Figure 25-1 Interpretation of the deposit

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 120

Figure 25-2: Interpretation of the deposit shape based on the highest grades

Field work including geological and structural mapping, sampling and geophysics has resulted in the recent discovery of several showings (ex: the Simon, JR West, and Bouleau d’Or showings). This work should be followed up with a detailed drilling to evaluate the gold mineralization potential. The drilling should be undertaken in late January or late February to enable transportation and drilling over the frozen lakes.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 121

26. Recommendations

Diamond Drilling on the LaPointe Area:

SGS recommends that a minimum 14,800m of diamond drilling be carried out on the La Pointe Sector Zones 25, 23, and Zone 22 to test both the up dip (approx. 4,875m) (below the lake) and down-dip extension (9,940m) of the known gold mineralized units (Figure 26-1 and Table 26-1). This drilling campaign will be undertaken from the existing camp using three drill rigs. SGS assumes that the drilling program can be completed within 40-50 days based on an average drilled meter of approx. 110m per day.

Many of the proposed drill holes collars are located on land but 15 holes will be required to be drilled from the lake in the winter time. Because the water level of the lake may vary, some planned holes in the vicinity of the lake’s shoreline may be on or off of the lake. Planned drill holes that need or may need to be drilled onthe frozen lake are all designed to define the up dip extension of the known mineralized zones.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 122

Figure 26-1 2018 Planned drill holes

Table 26-1: Proposed drill holes for 2018 drilling program for Zone 25 on La Pointe Area

Hole Name Length (m) Zone Location down_extension_1 510 down dip extension ground down_extension_2 342 down dip extension ground down_extension_3 400 down dip extension ground down_extension_4 370 down dip extension ground down_extension_5 412 down dip extension ground down_extension_6 450 down dip extension ground down_extension_7 384 down dip extension ground down_extension_8 375 down dip extension ground

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 123

Hole Name Length (m) Zone Location down_extension_9 309 down dip extension ground down_extension_10 413 down dip extension ground down_extension_11 425 down dip extension ground down_extension_12 486 down dip extension ground down_extension_13 408 down dip extension ground down_extension_14 391 down dip extension ground down_extension_15 429 down dip extension ground down_extension_16 360 down dip extension ground down_extension_17 385 down dip extension ground down_extension_18 310 down dip extension ground down_extension_19 361 down dip extension ground down_extension_20 467 down dip extension ground down_extension_21 477 down dip extension ground down_extension_22 308 down dip extension ground down_extension_23 267 down dip extension ground down_extension_24 426 down dip extension ground down_extension_25 478 down dip extension ground Sub Total 9941 up_extension_1 206 up dip extension ground up_extension_2 165 up dip extension ground up_extension_3 187 up dip extension ground up_extension_4 140 up dip extension ground up_extension_5 191 up dip extension ground up_extension_6 175 up dip extension ground up_extension_7 176 up dip extension ground up_extension_8 80 up dip extension ground up_extension_9 175 up dip extension ground up_extension_10 230 up dip extension ground up_extension_11 175 up dip extension ground up_extension_12 230 up dip extension ground up_extension_13 173 up dip extension lake up_extension_14 222 up dip extension lake up_extension_15 282 up dip extension lake up_extension_16 150 up dip extension lake up_extension_17 181 up dip extension lake up_extension_18 254 up dip extension lake up_extension_19 134 up dip extension lake

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 124

Hole Name Length (m) Zone Location up_extension_20 122 up dip extension lake up_extension_21 126 up dip extension lake up_extension_22 139 up dip extension lake up_extension_23 249 up dip extension lake up_extension_24 211 up dip extension lake up_extension_25 160 up dip extension lake up_extension_26 71 up dip extension lake up_extension_27 69 up dip extension lake up_extension_28 200 up dip extension lake

Sub Total 4872 Total 14813 say 15000

Diamond Drilling Re-sampling Program

Geological and Structural Re-interpretation

SGS recommends that a review of the current geological / structural model be completed for the property in order to better understand both the geology and structural controls on the gold mineralization styles which could lead to redefining known target areas as well as define new targets on the property for follow up exploration work. Upon the completion of the 2018 Winter Phase 1 2018 drilling program, the new data available will allow Matamec and CSM to complete a reliable re-interpretation of the geological model of the La Pointe sector.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 125

MMI Soil Geochemistry

SGS recommends a MMI (Mobile Metal Ions) soil geochemical campaign around the known gold prospect areas / showings and along all the principal lithological contacts where the overburden covers the bedrock. Mobile Metal Ions (MMI) is a proven geochemical survey technique used to accurately locate deep mineral deposits. Benefits from MMI are among others, a possibility to distinguish focused and sharp anomalies and a good method to detect deeply buried mineralization.

Because this method analyses metal ions that travel upward and has a very low detection limits, precise results directly from the location of the sample are returned.

Four distinct MMI campaigns are planned on the four different sectors (Sakami West, Sakami South, Peninsule and JR sector)

Stripping and detailed mapping

Considering the interesting gold results from the outcrop sampling on both the #9 showing and #43 on the JR sector, a better understanding of the immediate geology would help define new drilling targets. SGS recommends improving the geological knowledge of the area by mapping and completing and sampling several small outcrop strippings. SGS also proposes to conduct a stripping program for the #43 showing (Figure 26-2). Historical drill holes completed in both areas returned assays of more than 3ppm over 0.8m.

On the South, West and Peninsule areas, stripping and detailed mapping and sampling will be executed where needed.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 126

Figure 26-2 Area for stripping and mapping around showing #9 and #43

New Exploration Areas – Sakami West and South

West of Zone 25, there is a contact between basalt, amphibolite, arenite and tonalite units. SGS recommends that this area should be the focus of follow up prospecting, mapping and sampling (both MMI and lithogeochemistry) (Sakami West). On the adjacent Apple Property owned by Canadian Strategic Metals, they reported the discovery of several mineralized showings containing gold, copper, nickel, zinc and/or Silver. Since the potential strike extension of the mineralized showings may also occur within Matamec and CSM’s property, SGS recommends that an initial reconnaissance prospecting and sampling program be carried in order to assess the potential for gold mineralization in the Sakami West area.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 127 sampling program be carried in order to assess the potential for gold mineralization in the Sakami south area (Figures 26-3 and 26-4).

Figure 26-3 New exploration Areas

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 128

Figure 26-4:Regional map showing geology and recommendation works

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 129

Agreement with community

SGS also recommends for Matamec and CSM to consider implementing discussions on a pre- development agreement with the local Cree community to maintain positive relations. Consistent and transparent consultations with all the stakeholders can have a significant impact on the probability of obtaining the required social license and permits for an eventual mining operation.

2018 Exploration Budget

The estimated cost for completing the Summer – Fall 2018 prospect areas exploration programs is approx $965,000.

The estimated cost for completing the proposed Fall – Winter 2018 drilling programs for the prospect areas is approx $2.580,000.

Table 26-2 summarizes the cost estimate for the proposed 2018 Winter and Summer exploration and drilling programs.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 130

Table 26-2: Proposed 2018 Winter drilling program and Summer Exploration Programs for the Sakami Project

2018 DRILLING AND EXPLORATION BUDGET - SAKAMI PROJECT AREA

Winter - Spring 2018

2018 Phase 1 Geological Structural Study and Drilling Program La Pointe Area Geological and Structural Model Study $50,000 Drilling (contractor, consumables, assays, deviation tool, etc.) $140 $/meter 15000 $2,100,000 Drill Core re-sampling program $25 $/sample (1.5m) 500 $12,500 Technical and Camp Staff $8,000 $/day 45 $360,000 Camp Costs (food, telecom, generator rental, fuel, propane, etc.) $3,000 $/day 45 $135,000 Mobile equipment rental $450 $/day 45 $20,250 Mobilisation of equipment and workers, and camp expansion $45,000 Sub Total $2,722,750

Consultation services for pre-development agreement $100,000 NI 43-101 technical report wih maiden mineral resource estimate for the La $70,000 Pointe Area Sub Total $170,000 TOTAL PHASE 1 PROGRAM $2,892,750 say $2,900,000

Summer - Fall 2018 - Exploration Budget for Prospect areas

Summer Exploration Camp expenses for the 4 Prospect Areas unit cost unit Quantity $ Technical and Camp Staff $8,000 $/day 45 $360,000 Camp Costs (food, telecom, generator rental, fuel, propane, etc.) $3,000 $/day 45 $135,000 Mobile equipment rental $450 $/day 45 $20,250 Mobilisation of equipment and workers, and camp expansion $45,000 Sub Total $560,250

Sakami South unit cost unit Quantity $ Ground geophysical survey (MAG-EM) $5,000 $/day 30 $150,000 Geological prospecting and mapping $1,000 $/day 30 $30,000 MMI sampling and analysis $50 $/sample 1000 $50,000 Sampling (chips ) $25 $/sample 200 $5,000 Stripping & Channel Sampling $100 $/m 200 $20,000 Sub Total $105,000

Sakami West unit cost unit Quantity $ Ground geophysical survey (MAG-EM) $5,000 $/day 30 $150,000 Geological prospecting and mapping $1,000 $/day 30 $30,000 MMI sampling and analysis $50 $/sample 1200 $60,000 Sampling (chips) $25 $/sample 200 $5,000 Stripping & Channel Sampling $100 $/m 200 $20,000 Sub Total $115,000

JR Area unit cost unit Quantity $ Geological prospecting and mapping $1,000 $/day 10 $10,000 MMI sampling and analysis $50 $/sample 1500 $75,000 Sampling (chips) $25 $/sample 200 $5,000 Stripping & Channel Sampling $100 $/m 200 $20,000 Sub Total $110,000

Peninsule Area unit cost unit Quantity $ Geological prospecting and mapping $1,000 $/day 10 $10,000 MMI sampling and analysis $50 $/sample 800 $40,000 Sampling (chips) $25 $/sample 200 $5,000 Stripping & Channel Sampling $100 $/m 200 $20,000 Sub Total $75,000 TOTAL FOR SUMMER EXPLORATION PROGRAM $965,250 say $965,000

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 131

Based on the favourable results obtained from the prospect exploration program as well as from the La Pointe Area, Matamec and CSM recommend completing a second phase of in fill drilling on the La Pointe Sector Area as well as the exploration target areas. Table 26-3 summarizes the cost estimate for the proposed 2018 Fall drilling programs.

Table 26-3: Budget for the proposed 2018 Fall drilling programs for the JR, Peninsule, Sakami West, Sakami South and La Pointe Areas

FALL - WINTER 2018-2019

2018 Fall Drilling Program unit cost unit Quantity $ JR Area Drilling (contractor, consumables, deviation tool etc.) $150 $/meter 2000 $300,000 Assays $25 $/sample (1.0m) 2000 $50,000 Technical and Camp Staff $8,500 $/day 20 $170,000 Camp Costs (food, telecom, generator rental, fuel, propane etc) $3,500 $/day 20 $70,000 Mobile equipment rental $500 $/day 20 $10,000 Mobilisation of equipment and workers, and camp expansion $45,000 Sub Total $645,000

2018 Fall Drilling Program unit cost unit Quantity $ Peninsule Area Drilling (contractor, consumables, deviation tool etc.) $150 $/meter 2000 $300,000 Assays $25 $/sample (1.0m) 2000 $50,000 Technical and Camp Staff $8,500 $/day 20 $170,000 Camp Costs (food, telecom, generator rental, fuel, propane etc) $3,500 $/day 20 $70,000 Mobile equipment rental $500 $/day 20 $10,000 Mobilisation of equipment and workers, and camp expansion $45,000 Sub Total $645,000

2018 Fall Drilling Program unit cost unit Quantity $ Sakami West Drilling (contractor, consumables, deviation tool etc.) $150 $/meter 2000 $300,000 Assays $25 $/sample (1.0m) 2000 $50,000 Technical and Camp Staff $8,500 $/day 20 $170,000 Camp Costs (food, telecom, generator rental, fuel, propane etc) $3,500 $/day 20 $70,000 Mobile equipment rental $500 $/day 20 $10,000 Mobilisation of equipment and workers, and camp expansion $45,000 Sub Total $645,000

2018 Fall Drilling Program unit cost unit Quantity $ Sakami South Drilling (contractor, consumables, deviation tool etc.) $150 $/meter 2000 $300,000 Assays $25 $/sample (1.0m) 2000 $50,000 Technical and Camp Staff $8,500 $/day 20 $170,000 Camp Costs (food, telecom, generator rental, fuel, propane etc) $3,500 $/day 20 $70,000 Mobile equipment rental $500 $/day 20 $10,000 Mobilisation of equipment and workers, and camp expansion $45,000 Sub Total $645,000 TOTAL FALL DRILLING PROGRAM $2,580,000

2018 Phase 2 In Fill Drilling Program (contingent on Phase 1 results) for unit cost unit units $ the La Pointe Area La Pointe Drilling (contractor, consumables, assays, deviation tool etc.) $150 $/meter 15000 $2,250,000 Technical and Camp Staff $8,000 $/day 45 $360,000 Camp Costs (food, telecom, generator rental, fuel, propane etc) $3,000 $/day 45 $135,000 Mobile equipment rental $450 $/day 45 $20,250 Mobilisation of equipment and workers, and camp expansion $45,000 Sub Total $2,810,250 NI 43-101 technical report wih revised mineral resource estimate for the La $70,000 Pointe Area TOTAL PHASE 2 DRILLING PROGRAM AND TECHNICAL REPORTING $2,880,250 say $2,880,000

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 132

27. References

Atkins, W.H., 1973. Sakami Project – Permit Areas 547 – 548 Zone 1 to 4, Report 1973, report submitted to the Ministère des Ressources naturelles, Québec; GM 29760, 155 pages and 1 map.

Baleer, M., and Lafontaine, J., 2009. Ressources Strateco - Campagne de forage sur la propriété Apple, secteur de la Baie James, Québec Projet Apple, Hiver 2008; Volume 1 de 3. Report submitted to the Ministère des Ressources naturelles, Québec; GM 64506 Volumes 1 to three include 407 pages and 46 maps and sections

Baleer, M., and Lafontaine, J., 2009. Ressources Strateco - Campagne de forage sur la propriété Apple, secteur de la Baie James, Québec Projet Apple, Hiver 2008; Volume 2 de 3. Report submitted to the Ministère des Ressources naturelles, Québec; GM 64506 Volumes 1 to three include 407 pages and 46 maps and sections

Baleer, M., and Lafontaine, J., 2009. Ressources Strateco - Campagne de forage sur la propriété Apple, secteur de la Baie James, Québec Projet Apple, Hiver 2008; Volume 3 de 3. Report submitted to the Ministère des Ressources naturelles, Québec; GM 64506 Volumes 1 to three include 407 pages and 46 maps and sections

Bandyayera, D., and Houle, P., 2007. The Eastmain Belt: the emergence of a new gold camp. Québec Mines. Mining Information Bulletin, February, 2007. Ministère des Resources Naturelles et Faune.

Barringer Research Limited, 1966. Summary Report Diamond Drilling Programme Sakami Lake Property, P.Q. for Zulapa Mining Corporation Limited. report submitted to the Ministère des Ressources naturelles, Québec; GM 18241, 25 pages and 7 maps.

Beauregard, A.-J., 2000 – Rapport des travaux d'exploration, hiver 2000, Propriété Yasinski-Nord et PEM 1404. Ressources Dianor inc.; Assessment work report submitted to the Ministère des Ressources naturelles, Québec; GM 58304, 236 pages and 9 maps.

Beauregard, A.-J., 2001. Rapport d’évaluation sur la propriété Sakami (Matamec Exploration Inc.). Géologica Groupe Conseil. Rapport interne. 37 pages.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 133

Beauregard, A.-J., and Gaudreault, D., 1999. Qualification report on the Sakami Property (Matamec Exploration Inc.). Géologica Groupe Conseil. 35 pages. GM 59247.

Beauregard, A.-J., and Gaudreault, D., 2003. Rapport technique d’évaluation sur la propriété Sakami, municipalité de la Baie-James, province de Québec, Canada (Matamec Exploration Inc.). Géologica Groupe Conseil. Rapport interne. 42 pages.

Berger, J., 1999. Rapport Final sur la détection des chapeaux de fer à l’aide d'images LANDSAT TM pour les feuillets SNRC 33F, 33G et 33H – Projet Minto –Soumis à Les Mines d’Or Virginia. Report submitted to the Ministère des Ressources naturelles, Québec; GM 58326, 8 pages and 1 map.

Blanchet, C., 2001. Propriété Apple, rapport geologique, programme de decapage automne 2001 pour Mines d’Or Virginia. Services Techniques Géonordic inc. 14 pages.

Boileau, P., 2001. Rapport d’interprétation de levés géophysiques (magnétique et polarisation provoquée- résistivité) effectués sur le projet Sakami. Rapport interne. 9 pages.

Bullis, H. R., Hureau, R. A., and Penner, B. D., 1994. Distribution of Gold and sulfides at Lupin, Northwest Territories. Economic Geology, v. 89, p. 1217-1227.

Caddey, S. W., Bachman, R. L., Campbell, T. J., Reid, R. R., and Otto, R. P., 1991. The Homestake mine, an Early Proterozoic iron formation-hosted gold deposit, Lawrence County, South Dakota. United States Geological Survey, Bulletin 1857-J. 67 pages.

Card, K. D. and Ciesielki, A. 1986. DNAG #1. Subdivisions of the Superior province of the Canadian Shield. Geoscience Canada 13. p. 5-13.

Card, K. D., 1990. A view of the Superior Province of the Canadian Shield, a product of Archean accretion. Precambrian Research 48, p. 99-156.

Charbonneau, R., 2005. Rapport de traitement et d’examen minéralogique de tills. Les consultants Inlandsis. Rapport interne. 7 pages.

Chartrand, F. and Gauthier, M. 1995. Cadre géologique et potentiel minéral des roches archéennes du bassin de La Grande Rivière, Baie James. Ministère des Ressources Naturelles du Québec, Pro 95-06. 8 pages.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 134

Couture, J.-F., 2001. Report on the geology of the lac Sakami gold discovery, Québec, Canada, Sakami Project (Matamec Explorations Inc.). SRK Consulting Engineers and Scientists. 72 pages.

Davis, W. J., Machado, n., Gariépy, C., Sawyer, E., and Benn, K., 1994. U-Pb geochronology of the Opatica tonalite gneiss belt and its relationship to the Abitibi greenstone belt, Superior province, Quebec. Canadian Journal of Earth Sciences 32, p. 113-127.

Dubé, B. and Gosselin, P. 2005, Greenstone-Hosted Quartz-Carbonate Vein Deposits (Orogenic, Mesothermal, Lode Gold, Shear-Zone-related Quartz-Carbonate or Gold-Only Deposits). Geological Survey of Canada. Web site of Natural Resources of Canada. 13 pages. http://gsc.nrcan.gc.ca/mindep/synth_dep/gold/greenstone/pdf/deposit_synthesis.gold_greenston e.dube_gosselin.pdf

Dubé, J., 2016. Technical Report, Combined Magnetic and VLF-EM Ground Survey, Sakami Project, JR West, Île and La Pointe Areas, James Bay Region, Québec, 2016. Prepared for Canadian Strategic Metals. Prepared by Dynamic Discovery Geoscience. 33 pages.

Eade, K. E., 1966. Fort George and Kaniapiskau river (west half) map-areas, New Quebec. Geological Survey of Canada. Memoir 339. 84 pages.

Eade, K. E., Heywood, W. W., Lee, H. A., 1957. Fort Sakami Lake area, New Quebec. Geological Survey of Canada. Map 23-1957.

Fleury, Jean-Philippe, Master’s student, University of Laval, (personal communications, 2016).

Frimmel, H.E., 2005 The case for a modified paloeplacer model for Witwaterstand gold, Departement of Geological Sciences, University of DCape Town, Rondebosch 7701, South Africa. SEG Newsletter No. 60, p. 7-14.

Gagnon, R., and Costa, P., 2001. Mines D’Or Virginia Inc. Rapport Des Travaux de Terrain Été 2000 Propriétés Apple Et Marie-Claude. Service Techniques Géonordic inc. report submitted to the Ministère des Ressources naturelles, Québec; GM 58697, 108 pages and 2 maps.

Gauthier, M., 1996. Géologie de la région du lac Sakami, SNRC 33F. Carte de compilation au 1 : 250 000. Ministère des Ressources naturelles du Québec. MB 96-13.

Gauthier, M., Larocque, M., Chartrand, F., 1997. Cadre géologique, style et répartition des minéralisations métalliques du bassin de La Grande Rivière, Territoire de la Baie James, Ministère des Ressources naturelles du Québec. MB 97-30. 65 pages.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 135

Geusebroek, P. A. and Duke, N. A¸., 2004. An update on the Geology of the Lupin Gold Mine, Nunavut, Canada. Exploration and Mining Geology, vol. 13, Nos 1-4, p. 1-13.

Goutier, J. et al. (Claude Dion, Marie-Claude Ouellet, Jean David, Martin Parent), 2000. Géologie de la région des lacs guillaumat et sakami (SNRC 33F/02 et 33F/07) - RG9915 –, par Géologie Québec.

Goutier, J., Dion, C., Ouellet, M-C., David, J., and Parent, M., 2000. Géologie de la région des lacs Guillaumat et Sakami (SNRC 33F/02 et 33F/07). Ministère des Ressources naturelles du Québec. RG-99-15. 37 pages.

Goutier, J., Doucet, P., Dion, C., Beausoleil, C., David, J., Parent, M., Dion, D.-J., 1998. Géologie de la région du lac Kowskatehkakmow (SNRC 33F/06). Ministère des Ressources naturelles du Québec. RG-98-16. 48 pages.

Groves, D. J., Goldfard, R. J., Robert, F., and Hart, C. J. R., 2003. Gold deposits in metamorphic belts: Overview of current understanding, outstanding problems, future research, and exploration significance. Economic Geology, vol. 98, p. 1-29.

Hallbauer, D. K., 1981. Geochemistry and morphology of mineral component from the fossil gold and uranium placers of the Witwatersrand. In Genesis of Uranium- and Gold-bearing Precambrian Quartz Pebble Conglomerates. (ed.) F. C. Amstrong. United States Geological Survey. Professional Paper 1161 A-BB. p. M1-M22.

Heinrich, A. Christoph. (2015). Witwatersrand gold deposits formed by volcanic rain, anoxic rivers and Archaean life. Nature Geoscience. 8. . 10.1038/ngeo2344.

Kerswill, J. A., 1996. Iron-formation-hosted stratabound gold; In Geology of Canadian Mineral Deposit Types, (ed.) O. R. Eckstrand, W. D. Sinclair, and R. I. Thorpe; Geological Survey of Canada, Geology of Canada, no. 8, p. 367-382.

Lafontaine, J., 2009. Ressources Strateco - Prospection uranifère sur la propriété Apple, secteur de la Baie James, Québec. Projet Apple, Été 2008, report submitted to the Ministère des Ressources naturelles, Québec; GM 64466, 116 pages and 32 maps and sections.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 136

Lamarche, L. and Lavallée, J. R, 1998. Rapport de prospection pour les projets Sakami 1 et 2. Programme d’assistance à l’exploration minière du Québec, volet A-2. Ministère des Ressources Naturelles du Québec. 24 pages. GM 58475.

Lavallée, J.-R., 2002. Rapport technique d’évaluation de la propriété Sakami, Municipalité de la Baie-James, Province de Québec, Canada (Matamec Exploration inc.). Gestion Minière Explorer inc. Rapport interne. 69 pages.

Lavallée, J.-R., 2003. Rapport des travaux de prospection, été 2002, propriété Sakami, Municipalité de la Baie-James, Province de Québec, Canada (Matamec Exploration inc.). Gestion Minière Explorer inc. Rapport interne. 63 pages. GM 60046.

Lavallée, J.-S., 2014. Rapport de Compilation sur la Propriété Sakami, (SNRC : 33F/02, 33F/07). Préparé pour Métaux Stratégiques du Canada. Préparé par Jean-Sébastien Lavallée, Consul- Teck. 43 pages.

Lavallée, J.-S., 2015. Rapport de Travaux sur la Propriété Sakami, (SNRC : 33F/02, 33F/07). Préparé pour Métaux Stratégiques du Canada. Préparé par Jean-Sébastien Lavallée, Consul- Teck. 37 pages.

Lavallée, J.-S., 2016. Rapport de Travaux sur la Propriété Sakami, (SNRC : 33F/02, 33F/07). Préparé pour Métaux Stratégiques du Canada. Préparé par Jean-Sébastien Lavallée, Consul- Teck. 47 pages.

Lavallée, J.-S., and Lavallée, J-R. 2004. Rapport des travaux de février et mars 2004 Propriété Sakami, Municipalité de la Baie-James, Province de Québec, Canada (Matamec Exploration inc.). Consul-Teck. 96 pages. GM 61190.

Leclerc, A., 2012. Rapport d’Évaluation, Préliminaire corrigé, Propriété Sakami, Matamec Explorations Inc. 63 pages.

Leclerc, A., 2015. Propriété Sakami, Rapport d’une campagne d’échantillonnage pédogéochimique (horizon B) sur trois secteurs de la propriété Sakami, Secteur JR, secteur Île et secteur Péninsule. 15 pages.

Liebenberg, W. R., 1958. The mode of occurrence and theory of origin of the uranium minerals and gold in the Witwatersrand ores. In United Nations, Peaceful Uses of Atomic Energy. Proceedings of the Second International Conference, Geneva, p. 379-387.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 137

McLaughlin, A. D., 2002. Technical Report on the Sakami Project, James Bay Region, Quebec (Matamec Exploration Inc.). Internal report. 39 pages.

Mills, J. P., 1974, Petrological studies in the Sakami-Lake greenstone belt of the Northwestern Quebec. University of Kansas. Doctorate thesis. 190 pages.

Minter, W. E. I., 1978. A sedimentological synthesis of placer gold, uranium and pyrite concentrations in Proterozoic Witwatersrand sediments. In Fluvial Sedimentology. (ed) A. D. Miall. Canadian Society of Petroleum Geology. Memoir No.5. p. 801-829.

Olivo, G. R., 1994. Rapport sur le projet Sakami. Report submitted to the Ministère des Ressources naturelles, Québec; GM 53599, 41 pages and 1 map.

Ostry, G. and Halden, N.M. 1995: Geology of the Puffy Lake Au deposit, Sherridon district, Manitoba; Exploration and Mining Geology, v. 4, p. 51–63.

Paquette, L., and Gauthier, M., 1997. Séquences archéennes du lac Sakami, Baie James. Ministère des Ressources naturelles du Québec. MB 97-02. 34 pages.

Paquette, L., and Gauthier, M., 1997. Séquences archéennes du lac Sakami, Baie James. Ministère des Ressources Naturelles du Québec. MB 97-02. 34 pages.

Percival, J. A., 2007. “Geology and Metallogeny of the Superior Province, Canada” in Goodfellow, W.D., Mineral Deposits of Canada: A synthesis of major deposit-types, district metallogeny, the evolution of geological provinces, and exploration methods: Geological Association of Canada, Minerals Deposits Division, Special Publication 5, p. 903-928.

Plante, L. 2001. Levés geophysiques - MAG & PP pour Mines d’Or Virginia Inc. Propriété Apple, Region de Sakami, QC, SNRC 33F/02. Géola, rapport # 2001-197. 14 pages.

Poulsen, K. H., Robert, F., and Dubé, B., 2000. Geological classification of Canadian gold deposits: Geological Survey of Canada, Bulletin 540, 106 pages.

Ravenelle, J.F., Dubé, B., Malo, M., McNicoll, V., Nadeau, L., Simoneau, J., 2010, Insights on the Geology of the World Class Roberto Gold Deposit, Éléonore Property, James Bay area, Québec. GSC Current Research 2010-1.

Ramdohr, P. 1958. The uranium and gold deposits of the Witwatersrand; Blind River district; Dominion Reef; Serra de Jacobina; microscopic analyses and a geological comparison. In

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 138

Geochemistry and Origin of Life. (ed.) K. A. Kvenvolden; Dowden, Hutchison & Ross Inc. Stroudsburg, Pennsylvania, U.S.A., v. 14. p. 188-194 (1974).

Robb, Laurence & Meyer, Franz. (1995). The Witwatersrand Basin, South Africa: Geological framework and mineralization processes. Ore Geology Reviews - ORE GEOL REV. 10. 67-94. 10.1016/0169-1368(95)00011-9.

Roscoe, S. M., 1969. Huronian rocks and uraniferous conglomerates in the Canadian Shield. Geological Survey of Canada. Paper 68-40. 205 pages.

Roscoe, S. M., 1981. Temporal and other factors affecting deposition of Precambrian quartz pebble conglomerates. In Genesis of Uranium- and God-bearing Precambrian Quartz Pebble Conglomerates. (ed.) F. C. Armstrong. United States Geological Survey. Professional Paper 1161 A-BB. p. W1-W17.

Roscoe, S. M., 1996. Paleoplacer uranium, gold. In Geology of Canadian Mineral Deposit Types. (eds) O. R. Eckstrand, W. D. Sinclair, and R. I. Thorpe. Geological Survey of Canada, Geology of Canada no.8. p. 10-23.

Roy, M.S., 1999. Mines D’Or Virginia Inc. Propriété Apple (S.N.R.C. 33F/02-33F/03) Rapport des travaux de terrain (été 1999). Service Techniques Géonordic inc. Report submitted to the Ministère des Ressources naturelles, Québec; GM 58004, 75 pages and 2 maps.

Sial Géosciences Inc. 1998. Mines D’Or Virginia, Cartes NTS : 33F/02-03 Levé Électromagnéetique et Magnétique Héliporté. Blocs : Apple, Secteur de la rivière La Grande (LG- 3). Report submitted to the Ministère des Ressources naturelles, Québec; GM 56268. 45 pages and 9 maps.

Sial Géosciences Inc. 2000. Mines D’Or Virginia - Levé électromagnétique et magnétique héliporté - Bloc A - Région : Lac Sa kami - Cartes NTS : 33F/02 - Rapport Final., Projet no. 00- H02-07. Avril 2000. Report submitted to the Ministère des Ressources naturelles, Québec; GM 58696, 31 pages and 3 maps.

Sial Géosciences Inc., 2000. Mines D’Or Virginia, Levé Électromagnétique et Magnétique Héliporté, Bloc A – Région : Lac Sakami – Carte NTS : 33F/02, report submitted to the Ministère des Ressources naturelles, Québec; GM 59351 – 32 pages and 10 maps.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 139

Simard, P., 1996 – Rapport des travaux, propriété La Grande Sud. Mines d'Or Virginia Inc.; Assessment work report submitted to the Ministère des Ressources naturelles, Québec; GM 54335, 336 pages and 3 maps.

Turcotte, B., Pelletier, C., and Beausoleil, C., 2007. Technical Report on the Sakami Property, James Bay Region, Prepared for Matamec Explorations Inc., Prepared by InnovExplo. 97 pages.

27.1 Web and Databases References

Dion, C., Goutier, J., Gauthier, M., 2003 – Metallogenic overview of the La Grande Subprovince in the Lac Sakami (33F) and Lac Guyer (33G) area, Québec Mines Bulletin, Previous Issues, October 2003: https://www.mern.gouv.qc.ca/english/mines/quebec-mines/2003-10/apercu.jsp http://www.toponymie.gouv.qc.ca/ct/ToposWeb/fiche.aspx?no_seq=57805

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 140

28. Date and Signature Page

This report titled “NI 43-101 Technical Report for the Sakami Property Radisson area, Québec, Canada” for Matamec Explorations Inc.” for Matamec Explorations Inc. and Canada Strategic Metals dated November 10, 2018, was prepared and signed by the following authors:

“Signed and Sealed”

______

Dated at Blainville, Québec Olivier Vadnais-Leblanc, B.Sc., P.Geo.

November 24, 2017 Project Geologist

SGS Geostat

“Signed and Sealed”

______

Dated at Blainville, Québec Claude Bisaillon, B.Eng., ing.

November 24, 2017 Project Engineer

SGS Geostat

“Signed and Sealed”

______

Dated at Blainville, Québec Daniel Leroux, M.Sc., P.Geo., géo

November 24, 2017 Business Manager and Senior Geologist

SGS Geostat

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 141

29. Certificates of Qualified Persons

OLIVIER VADNAIS-LEBLANC, GEO. 5427 Lafond Montréal, QC H1X 2X3 Telephone: +1-514-797-2913 Email: [email protected]

I, Olivier Vadnais-Leblanc, B.Sc., géo. (Montréal, Québec), do hereby certify that:

1. I am a Project Geologist with SGS Canada Inc. (SGS Geostat), located at 10 boul. de la Seigneurie E, Unit 203, Blainville, Québec, Canada, J7C 3V5. This certificate applies to the technical report titled “NI 43-101 Technical Report for the Sakami Property Radisson area, Québec, Canada” for Matamec Explorations Inc. and Canada Strategic Metals (the “Technical Report”) with an effective date of November 24, 2017.” with an effective date of November 24 2017.

2. I graduated with a Bachelor degree in Geology from UQAM in 2006 and have practiced the profession of geoscience since graduation. I have previously worked with Les Mines Opinaca (Goldcorp) from 2006 to 2016. From 2016 to 2017 I worked as a Geologist for Englobe. I have a total of 11 years experience in the mining industry including a background in international mineral exploration, and production geology. Additional experience includes ground support surveillance for the digging of tunnels.

3. I am a registered Professional Geologist (géo.) registered with the Ordre des Géologues du Québec (No. 1082).

4. I have read the definition of “qualified person” set out in National Instrument 43-101 (“NI 43- 101”) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a “qualified person” for the purposes of NI 43-101.

5. I have not completed a site visit to the Sakami property that is the subject of this technical report.

6. I am a co-author of the technical report entitled “NI 43-101 Technical Report for the Sakami Property Radisson area, Québec, Canada for Matamec Explorations Inc. and Canada Strategic Metals” (the “Technical Report”) with an effective date of November 24, 2017”. I am co-responsible for the summary and Sections 1.0 to 27.0 of the Technical Report.

7. I have no prior involvement with Matamec nor CSM, their Principals or their shareholders.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 142

8. I am independent of the issuer as defined in section 1.5 of National Instrument 43-101.

9. I have had no prior involvement with the Sakami Project that is the subject of this report. I have read NI 43-101 and Form 43-101F1 and the Report has been prepared in compliance therewith.

10. As of the date of this certificate, to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

11. I consent to the filing of the Technical Report with any stock exchange and other regulatory authority and any publication by them, including electronic publication in the public company files on their websites accessible by the public, of the Technical Report.

Effective Date: November 24, 2017 Signed Date: November 24, 2017

“Signed and Sealed”

______

Olivier Vadnais-Leblanc, B.Sc., géo.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 143

CLAUDE BISAILLON, ING.

1008 – 80 Lakeshore Road Pointe-Claire, QC H9S 4H6 Telephone: +1-514-941-8103 Email: [email protected]

To accompany the Report entitled “NI 43-101 Technical Report for the Sakami Property Radisson area, Québec, Canada” for Matamec Explorations Inc. and Canada Strategic Metals with an effective date of November 1st, 2017 and a date of issue for the report of November 24th, 2017.

I, Claude Bisaillon, do hereby certify that:

1. I currently work as an engineer at SGS Canada Inc. with an office located at 10 boul. De la Seigneurie Est, Suite 203, Blainville, Québec, Canada J7C 3V5;

2. This certificate regards the technical report entitled “NI 43-101 Technical Report for the Sakami Property Radisson area, Québec, Canada with an effective date of November 1st, 2017 and a date of issue for the report of November 24th, 2017;

3. I have a B.Sc. in geology from Concordia University in Montréal and I received B.Ing. in Geological Engineering from Université Laval in Quebec City in 1996. I have worked on several technical reports regarding resource estimations and exploration. I am a registered member of the Ordre des Ingénieurs du Québec (#116407). I am a ‘Qualified Person’ for the purposes of National Instrument 43-101 (the ‘Instrument’);

4. I visited the Project on July 29, 2016;

5. I am a co-author of the technical report entitled “NI 43-101 Technical Report for the Sakami Property, Radisson area, Quebec, Canada”. I am co-responsible for the summary and Section 12.0 of the Technical Report.

6. I am independent of both Matamec Explorations Inc. and Canada Strategic Metals as described in section 1.5 of the Instrument;

7. I have had no prior involvement with the property that is the subject of this report;

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 144

8. I have read the Instrument and the sections of this report that I am responsible for have been prepared in compliance with the Instrument; and,

9. As of the date of issue of this report, to the best of my knowledge, information, and belief, the parts of this report that I am responsible for, contains all scientific and technical information that is required to be disclosed to make the report not misleading.

Effective Date: November 24, 2017 Signed Date: November 24, 2017

“Signed and Sealed” ______Claude Bisaillon, ing.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 145

DANIEL LEROUX, P. GEO, géo 778 chemin de la Baie Rigaud, QC J0P 1P0 Telephone: +1-416-388-6446 Email: [email protected]

I, Daniel Leroux, M.Sc., P. Geo., géo (ON, QC), do hereby certify that:

1. I am the Business Manager – Geological Services for SGS Canada Inc. located a 10 boul de la Seigneurie, Unit Blainville, Québec, Canada, J7C 3V5 since February 2017. This certificate applies to the technical report titled “NI 43-101 Technical Report for the Sakami Property Radisson area, Québec, Canada for Matamec Explorations Inc. and Canada Strategic Metals” (the “Technical Report”) with an effective date of November 24, 2017.

2. I graduated with a Bachelor of Science, Geology degree from Laurentian University in 1993 and a Master of Science degree in Mineral Exploration in 2013 from Laurentian University and have practiced the profession of geoscience since my Bachelor of Science graduation. Prior to joining SGS Canada Inc, I was previously the Vice President with the firm of A.C.A. Howe International Limited, Mining and Geological Consultants (“Howe”) located at 365 Bay St., Suite 501, Toronto, Ontario, Canada, M5H 2V1. I was employed with Howe since 1993; since 2007 as Vice President, from 2005 to 2007 as a Senior Consulting Geologist, from 1999 to 2004 as an associate consulting geologist and from 1993 to 1999 as Project Geologist. I have a total of 25 years' experience in the mining industry including a background in international mineral exploration, evaluation and valuation studies for precious metals, base metals, diamonds and industrial minerals projects. Additional experience includes the completion of various National Policy 2A and NI 43-101 technical reports for both primary and alluvial diamond projects located worldwide.

3. I am a Professional Geoscientist (P. Geo.) registered with the Association of Professional Geoscientists of Ontario (APGO, No. 742) and the Ordre des géologues du Québec (OGQ, No. 1648).

4. I have read the definition of “qualified person” set out in National Instrument 43-101 (“NI 43-101”) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a “qualified person” for the purposes of NI 43-101.

5. I have not completed a site visit to the Sakami Project that is the subject of this technical report.

6. I am the co-author of the technical report entitled NI 43-101 Technical Report for the Sakami Property Radisson area, Québec, Canada for Matamec Explorations Inc. and Canada Strategic Metals” (the “Technical Report”) with an effective date of November 24, 2017. I am responsible for the summary and Sections 1.0 to 27.0 of the Technical Report.

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 146

7. I have no prior involvement with Matamec nor CSM, their Principals or their shareholders.

8. I am independent of the issuer as defined in section 1.5 of National Instrument 43-101.

9. I have had no prior involvement with the Sakami Project that is the subject of this report. I have read NI 43-101 and Form 43-101F1 and the Report has been prepared in compliance therewith.

Effective Date: November 24, 2017 Signed Date: November 24, 2017

“Signed and Sealed” ______Daniel Leroux, M.Sc., P. Geo., géo

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 147

Appendix I. List of Claims

Matamec Explorations Inc. and Canada Strategic Metals Claims List with Associated Royalty

Royalty Royalty Sheet no. Title Number Status Expiration Date NSR: 1% NSR: 2% Title holders Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26941 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26942 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26943 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26944 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26945 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26951 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26952 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26953 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26954 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26955 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26956 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26957 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26958 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26959 Actif 16/06/2018 23:59 2% (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 148

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26960 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26965 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26966 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26967 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26968 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26969 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26970 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26971 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26972 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26973 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26974 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26975 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26980 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26981 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26982 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26983 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26984 Actif 16/06/2018 23:59 2% (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 149

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26985 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26986 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26987 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26988 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26989 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26990 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26993 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26994 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26995 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26996 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26997 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26998 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 26999 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27000 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27001 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27002 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27003 Actif 16/06/2018 23:59 2% (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 150

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27004 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27005 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27006 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27007 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27008 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27009 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 27010 Actif 16/06/2018 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40118 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40120 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40121 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40122 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40123 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40124 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40125 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40126 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40127 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40128 Actif 28/04/2019 23:59 (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 151

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40129 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40130 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40131 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40132 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40133 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40134 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40135 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40136 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40137 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40138 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40139 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40140 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40141 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40142 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40143 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40144 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 40145 Actif 28/04/2019 23:59 (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 152

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84078 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84079 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84080 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84081 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84082 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84083 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84084 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84085 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84086 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84087 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84088 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84089 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84100 Actif 02/05/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84104 Actif 02/05/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 84109 Actif 02/05/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131186 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131187 Actif 03/10/2018 23:59 1% (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 153

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131188 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131189 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131190 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131191 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131192 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131193 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131194 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131195 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131196 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131197 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131198 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131199 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131200 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131201 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131202 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131203 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131204 Actif 03/10/2018 23:59 1% (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 154

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131205 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131206 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131207 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131208 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131209 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131210 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131211 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131212 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131213 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131214 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131215 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131216 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131217 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131218 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131219 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131220 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131221 Actif 03/10/2018 23:59 1% (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 155

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131222 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131223 Actif 03/10/2018 23:59 1% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131224 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131225 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131226 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131227 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131228 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131229 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131230 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131231 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131232 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131233 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131234 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131235 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131236 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131237 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131238 Actif 03/10/2018 23:59 (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 156

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131239 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 1131240 Actif 03/10/2018 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2095849 Actif 25/06/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2095850 Actif 25/06/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2095851 Actif 25/06/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124558 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124559 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124560 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124561 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124562 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124563 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124566 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124567 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124568 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124569 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124570 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124574 Actif 26/09/2019 23:59 2% (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 157

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124575 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124577 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124580 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124582 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124586 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124588 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124590 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124592 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2124594 Actif 26/09/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2125719 Actif 01/10/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2125720 Actif 01/10/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2125721 Actif 01/10/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2125722 Actif 01/10/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2125723 Actif 01/10/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2125728 Actif 01/10/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F02 2125729 Actif 01/10/2019 23:59 2% (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40152 Actif 28/04/2019 23:59 (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 158

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40153 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40154 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40155 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40156 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40167 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40168 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40169 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40170 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40171 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40172 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40179 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40180 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40181 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40182 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40183 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40190 Actif 28/04/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 40203 Actif 28/04/2019 23:59 (50 %)

SGS Canada Inc. NI 43-101 Technical Report – Sakami – Radisson Area Page 159

Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390754 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390755 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390756 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390757 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390758 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390759 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390760 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390761 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390762 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390763 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390764 Actif 15/09/2019 23:59 (50 %) Matamec Explorations Inc. (50 %)/Métaux Stratégiques du Canada SNRC 33F07 2390765 Actif 15/09/2019 23:59 (50 %)

SGS Canada Inc.