Technical Report on the South Cariboo Property, British Columbia, Canada

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Technical Report on the South Cariboo Property, British Columbia, Canada TECHNICAL REPORT ON THE SOUTH CARIBOO PROPERTY, BRITISH COLUMBIA, CANADA prepared for KORE Mining Ltd. and Karus Gold Corp. South Cariboo Property, British Columbia, Canada Effective Date: November 15, 2020 Report Date: December 16, 2020 Ron Voordouw, P.Geo. & Henry Awmack, P.Eng. Equity Exploration Consultants Ltd. This page intentionally left blank TABLE OF CONTENTS TABLE OF CONTENTS .......................................................................................................................................................... iii LIST OF TABLES..................................................................................................................................................................... v LIST OF FIGURES ................................................................................................................................................................... v 1.0 SUMMARY ............................................................................................................................................................... 6 1.1 Introduction ........................................................................................................................................................ 6 1.2 Property Description ........................................................................................................................................... 6 1.3 Location, Access and Ownership ......................................................................................................................... 7 1.4 History, Exploration and Drilling ......................................................................................................................... 7 1.5 Geology and Mineralization ................................................................................................................................ 8 1.6 Metallurgical Testing and Mineral Processing .................................................................................................... 9 1.7 Mineral Resource Estimate ................................................................................................................................. 9 1.8 Conclusions ......................................................................................................................................................... 9 1.9 Recommendations .............................................................................................................................................. 9 2.0 INTRODUCTION ..................................................................................................................................................... 10 2.1 Terms of Reference ........................................................................................................................................... 10 2.2 Units of Measure, Abbreviations and Acronyms .............................................................................................. 10 2.3 Qualified Persons .............................................................................................................................................. 10 2.4 Site Visits and Scope of Personal Inspection ..................................................................................................... 11 2.5 Effective Dates .................................................................................................................................................. 11 2.6 Information Sources and References ................................................................................................................ 11 2.7 Previous Technical Reports ............................................................................................................................... 12 3.0 RELIANCE ON OTHER EXPERTS .............................................................................................................................. 12 4.0 PROPERTY DESCRIPTION AND LOCATION ............................................................................................................. 12 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, PHYSIOGRAPHY ............................................. 19 5.1 Accessibility ....................................................................................................................................................... 19 5.2 Climate .............................................................................................................................................................. 19 5.3 Local Resources ................................................................................................................................................. 19 5.4 Infrastructure .................................................................................................................................................... 21 5.5 Physiography ..................................................................................................................................................... 21 6.0 HISTORY ................................................................................................................................................................. 22 6.1 FG Gold Area ..................................................................................................................................................... 22 6.2 Gold Creek Area ................................................................................................................................................ 24 6.3 Historical Mineral Resource Estimates ............................................................................................................. 26 6.4 Historical Production ......................................................................................................................................... 26 7.0 GEOLOGICAL SETTING AND MINERALIZATION ...................................................................................................... 26 7.1 Regional and Local Geology .............................................................................................................................. 26 7.2 Regional Metallogeny........................................................................................................................................ 28 iii 7.3 Property Geology .............................................................................................................................................. 30 7.4 Property Mineralization .................................................................................................................................... 33 8.0 DEPOSIT TYPES ...................................................................................................................................................... 37 8.1 Orogenic Gold Deposits ..................................................................................................................................... 37 8.2 Cu-Au Alkali Porphyry Deposits ......................................................................................................................... 38 9.0 EXPLORATION ........................................................................................................................................................ 39 9.1 2019 Surface Sampling ...................................................................................................................................... 39 9.2 2020 Surface Sampling ...................................................................................................................................... 39 10.0 DRILLING ................................................................................................................................................................ 40 10.1 2018 Nova Drilling ............................................................................................................................................. 40 10.2 2020 Frasergold Drilling .................................................................................................................................... 42 10.3 2020 Gold Creek Drilling.................................................................................................................................... 47 11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY ............................................................................................... 47 11.1 Sample Preparation and Security ...................................................................................................................... 47 11.2 Sample Analyses ................................................................................................................................................ 48 11.3 Quality Control Quality Assurance Program ..................................................................................................... 49 11.4 Analytical Adequacy .......................................................................................................................................... 51 12.0 DATA VERIFICATION .............................................................................................................................................. 52 12.1 Digital Data ........................................................................................................................................................ 52 12.2
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