(PEA) Barry Gold Project, Quebec, Canada Metanor Resources Inc
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NI 43-101 Technical Report Preliminary Economic Assessment (PEA) Barry Gold Project, Quebec, Canada Metanor Resources Inc. Submitted to: Metanor Resources Inc. (MTO) Prepared by: GoldMinds Geoservices (GMG) Effective date: September 22, 2016 Issue date: November 03, 2016 GoldMinds Geoservices Inc. 2999, Ch. Ste-Foy, suite 200 Québec, Qc, Canada, G1X 1P7 1-418-653-9559 GoldMinds Geoservices Inc. Technical Report - Preliminary Economic Assessment, Barry Gold Project, Quebec, Canada Page i Certificate of Qualified Person Claude Duplessis, Eng. - GoldMinds Geoservices Inc. 2999 Chemin Sainte-Foy, suite 200, Québec, Qc Canada G1X 1P7 To accompany the Report entitled: “Technical Report – Preliminary Economic Assessment, Barry gold project, dated November 3, 2016 with effective date of September 22, 2016 (the “Technical Report”). I, Claude Duplessis, Eng., do hereby certify that: a) I am a graduate from the University of Quebec in Chicoutimi, Quebec in 1988 with a B.Sc. in geological engineering and I have practised my profession continuously since that time; b) I am a registered member of the Ordre des ingénieurs du Québec (Registration Number 45523). I am also a registered engineer in the province of Alberta and Newfoundland & Labrador. I am a Member of the Canadian Institute of Mining, Metallurgy and Petroleum. I am a Senior Engineer and Consultant of GoldMinds Geoservices Inc; c) I have worked as an engineer for a total of 26 years since my graduation. My relevant experience for the purpose of the Technical Report is over 21 years of consulting in the field of Mineral Resource estimation, ore body modelling, mineral resource auditing and geotechnical engineering; d) I have prepared and written the technical report, I am responsible of the all sections of this report except section 13 & 17. e) I have personally visited the Barry property several times (September 2010, April 2016 and July 2016). f) I am independent of the issuer as defined in section 1.5 of NI 43-101(“The Instrument”); g) I have read the definition of “qualified person” set out in the National Instrument 43-101 and certify that by reason of my education, affiliation with a professional association and past relevant work experience, I fulfil the requirements to be an independent qualified person for the purposes of NI 43-101. h) I have read NI 43-101 and Form 43-101F1 and have prepared the technical report in compliance with NI 43-101 and Form 43-101F1; and have prepared the report in conformity with generally accepted Canadian mining industry practice, and 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. i) I have no personal knowledge as of the date of this certificate of any material fact or material change, which is not reflected in this report. This 3rd day of November 2016. Original signed and sealed (Signed) “Claude Duplessis” Claude Duplessis Eng. Senior Geological Engineer GoldMinds Geoservices Inc. GoldMinds Geoservices Inc. Technical Report - Preliminary Economic Assessment, Barry Gold Project, Quebec, Canada Page ii Certificate of Qualified Person Gaston Gagnon, Eng. [email protected] I, Gaston Gagnon, Eng., of Saint-Eustache, Quebec, do hereby certify: a) I am a Senior Mining Engineer with Goldminds Geoservices Inc (GMG) with an office at 2999 Chemin Ste-Foy, suite 200 Québec, Qc, Canada G1X 1P7. b) This certificate applies to the technical report entitled: Technical Report – Preliminary Economic Assessment, Barry gold project, dated November 3, 2016 with effective date of September 22, 2016 (the “Technical Report”). c) I am a graduate of the Laval University in Quebec City (B.Sc. Mining Engineering, 1964). I am a member of good standing (#15918) of the l’Ordre des Ingénieurs du Québec (Order of Engineers of Quebec). My relevant experience includes over 40 years of experience in mining, planning and administrating underground and surface producers and 5 years of consulting for several mining projects under development. I am a “Qualified Person” for purposes of National Instrument 43-101 (the “Instrument”). d) I have not visited the property for the purpose of this study, but I did two site visits at Barry, the last one in 2010. e) I participated and collaborated with GMG for the preparation of Sections 1, 2, 16, 18, 19, 21, 22, 25, 26 and 27 of the Technical Report. f) I am independent of Metanor Resources Inc., as defined by Section 1.5 of the Instrument. g) I have had prior involvement in collaborating to the preparation of a PEA study and technical report in 2007 for Metanor Resources Inc. h) I have read the Instrument and the Sections of the Technical Report that I have prepared in collaboration with GMG have been prepared in compliance with the Instrument. i) As of the effective date of the Technical Report, to the best of my knowledge, information, and belief, the Technical Report, or part that I have collaborated to, contains all scientific and technical information that is required to be disclosed to make the Technical Report not misleading. This 3rd day of November 2016. Original signed and sealed (Signed) “Gaston Gagnon” Senior Mine Engineer GoldMinds Geoservices Inc. GoldMinds Geoservices Inc. Technical Report - Preliminary Economic Assessment, Barry Gold Project, Quebec, Canada Page iii Certificate of Qualified Person Gilbert Rousseau, Eng. [email protected] I, Gilbert Rousseau, B.Sc.A., Engineer, do hereby certify that: a) I graduated with a mining engineer degree from the École Polytechnique of the University of Montreal in 1969. b) I am a member of the l’Ordre des Ingénieurs du Québec (#20288) c) I have worked as a mining engineer since my graduation, being involved in mining, milling and environment. d) I visited the Bachelor mill in July 2016 for the purpose of this report. e) I have read the definition of “qualified person” set out in National Instrument 43-101 (“NI43-101”) and certify that by reason of my education, affiliation with a professional association, as defined in NI43-101 and past relevant work experience, I fulfill the requirements to be a “qualified person” for the purpose of NI43-101. f) I am responsible for the preparation of the section 13 and 17 of the technical report titled “Technical Report – Preliminary Economic Assessment, Barry gold project, dated November 3, 2016 with effective date of September 22, 2016”. g) Except for visits in 2007 and 2009 for some other purposes I have not had prior involvement with the property that is the subject of the Technical Report. h) I am not aware of any material fact or material change with respect of the subject matter of the Technical Report that is not reflected in the Technical Report, the omission to disclose which makes the Technical Report misleading. i) I have read National Instrument 43-101 and Form 43-101F1, and the Technical Report has been prepared in compliance with the instrument and form. This 3rd day of November 2016. Original signed and sealed (Signed) “Gilbert Rousseau” Gilbert Rousseau Eng. Senior Mine/Metallurgist Engineer GoldMinds Geoservices Inc. GoldMinds Geoservices Inc. Technical Report - Preliminary Economic Assessment, Barry Gold Project, Quebec, Canada Page iv Table of Contents 1. Summary ......................................................................................................................................................... 1 1.1. General .................................................................................................................................................... 1 1.2. Property description and ownership ................................................................................................... 1 1.3. Local resources and infrastructures ..................................................................................................... 2 1.4. Geology and mineralization .................................................................................................................. 2 1.5. Drilling recent works 2016 ................................................................................................................... 3 1.6. Mineral processing and metallurgical testing ..................................................................................... 3 1.7. Mineral resource estimates data ........................................................................................................... 4 1.8. Mineral Resources Base Case ............................................................................................................... 4 1.9. Mineral reserve estimates ...................................................................................................................... 6 1.10. Mining Method and Planning ............................................................................................................ 6 1.11. Environment......................................................................................................................................... 7 1.12. Project Infrastructure .......................................................................................................................... 7 1.13. Capital and Operating Costs .............................................................................................................. 7 1.14. Economic Analysis .............................................................................................................................