NI 43-101 Technical Report for the Island Gold Mine, Dubreuilville, Ontario, Canada

NI 43-101 Technical Report for the Island Gold Mine, Dubreuilville, Ontario, Canada Prepared for 181 Bay Street, Suite 3910 Toronto, ON M5J 2T3, Canada Prepared by Nathan Bourgeault – P.Eng. Raynald Vincent – P.Eng., M.G.P. Colin Webster – P.Eng. Effective Date: July 14, 2020 Issue Date: August 31, 2020 TABLE OF CONTENTS Summary 10 Introduction 10 Property Description 10 Accessibility, Climate, Local Resources, Infrastructure and Physiography 10 History 11 Geological Setting and Mineralization 12 Deposit Types 13 Exploration 13 Drilling 13 Sample Preparation, Analyses and Security 14 Data Verification 14 Metallurgical Test Work 14 Mineral Resource Estimates 14 Mineral Reserve Estimate 15 Mining Production Plan 16 Processing 19 Infrastructure 19 Environmental Studies, Permitting and Social or Community Impact 21 Capital and Operating Costs 22 Economic Analysis 25 Interpretations and Conclusions 26 Recommendations 28 Introduction 29 Terms of Reference 29 List of Qualified Persons 30 Site Visits 30 Reliance on Other Experts 32 Property Location and Mining Titles 33 Location 33 Description of Mining Titles and Recorded Interests 33 Ownership of Mineral Rights 35 Mining Royalties 35 Other Mineral Royalties 35 Accessibility, Climate, Local Resources, Infrastructure and Physiography 36 Access 36 Climate 36 Local Resources 36 Surface Infrastructure 37 Physiography 37 History 38 Work History 38 Historical and Island Gold Mine Mineral Resource Estimates 43 Historical Production from the Island Gold Mine 44 Geological Setting 45 Regional Geology 45 Geology of the Island Gold Mine Area 45 Alteration and Mineralization 46 Island Gold Deposit 48 Other Gold Zones 52 Island Gold Mine – Ni 43-101 Technical Report 2 August 31, 2020 Deposit Types 55 Exploration 56 Introduction 56 2020 Exploration Drilling program 56 Drilling 60 Methodology and Planning 60 Drill Hole Mark Up 60 Collar Surveying 60 Down-Hole Surveying 60 Cementing of Drill Holes 60 Drill Core Logging 61 Geology and Analysis 61 Sample Preparation, Analyses and Security 63 Core Sampling and Collection 63 Chip Sample Collection 64 Laboratory Procedures 64 Security 65 Database Security 65 2019 Island Gold Internal Quality Assurance and Quality Control Program (QA-QC) 65 Laboratory Cross Check Sampling (Pulp Samples) 72 Core Duplicates 74 Underground Muck Tracking 74 Summary and Comments 74 Data Verification 76 Mineral Processing and Metallurgical Testing 77 Historical Metallurgical Testwork 78 Confirmatory Metallurgical Testwork 81 Thickening & Rheology Testing (2016) 85 Mineral Resource Estimates 88 Introduction 88 Mineral Resources Classifications, Categories and Definitions 88 Methodology 89 Databases 90 Gold Modeling 92 Statistical Analysis and Grade Capping 94 Compositing 96 Density 97 Variography 98 Block Modelling 99 Block Model Validation 103 Classification 104 Mineral Resource Statement 105 Mineral Reserve estimates 111 Island Gold Mine – Total Mineral Reserves 112 Reconciliation of the 2019 Production with Mineral Reserve Models 113 Mineral Reserve Reconciliation 2018 vs 2019 114 Mining Methods 117 Overview 117 Mine Access and Development 117 General Design Considerations 119 Stope Dimensions 120 Stope Design 120 Mining Methods 120 Island Gold Mine – Ni 43-101 Technical Report 3 August 31, 2020 Ground Control 125 Backfill 127 Stope Sequencing 128 Material Movement & Equipment 129 2019 Scoping Study 130 Phase III Expansion Study Mineral Inventory 132 Phase III Expansion Study Scenarios Examined 135 Phase III Expansion Study Observations 141 Phase III Expansion Study Conclusions 148 Island Gold Life of Mine Plan 149 Recovery Methods 151 Expansion Considerations 151 Selected Expansion Approach 152 Process Flowsheet and Design Criteria 152 Process Plant Layout 152 Process Description 156 Project Infrastructure 160 Local Resources and Services 160 Current Site Infrastructure 160 Phase III Infrastructure Expansion 167 Market Studies and Contracts 196 Market studies 196 Metal Pricing 196 Environmental Studies, Permitting and Social or Community Impact 197 Existing Conditions 197 Anticipated Permitting Activities 204 Environmental Emergency Response 206 Social and Community Considerations 206 Indigenous Engagement 208 Capital and Operating Costs 210 Capital Cost Estimate Input 210 Capital Cost Estimate Summary 210 Capital Expenditures 211 Operating Expenses 216 Economic Analysis 221 Assumptions 221 Revenue and Working Capital 222 Summary of Operating Costs 222 Summary of Capital Costs 223 Reclamation and Mine Closure Plan 225 Taxes 225 Royalties 225 Economic Analysis 225 Sensitivities 227 Adjacent Properties 231 Magino Mine 231 Edwards Mine and Cline Mines 231 Goudreau Property 233 Other Relevant Data and Information 234 Interpretations and Conclusions 235 Summary 235 Geology and Mineral Resource Estimate 235 Mining Methods and Reserves 236 Island Gold Mine – Ni 43-101 Technical Report 4 August 31, 2020 Processing 236 Infrastructure 236 Environmental Considerations 237 Capital and Operating Costs 237 Economic Analysis 238 Recommendations 239 References 240 Units of Measure, Abbreviations, Acronyms 242 Certificates of Qualified Persons 246 Island Gold Mine – Ni 43-101 Technical Report 5 August 31, 2020 LIST OF TABLES Table 1-1 Island Gold Mineral Resources as of Dec 31, 2019 ......................................................................... 15 Table 1-2 Mineral Reserve Estimation Parameters .......................................................................................... 16 Table 1-3 Island Gold – Mineral Reserve Estimate as of Dec 31, 2019 ........................................................... 16 Table 1-4 Total Capital Costs ........................................................................................................................... 23 Table 1-5 Sustaining Capital Costs ................................................................................................................... 23 Table 1-6 Growth Capital Costs ........................................................................................................................ 24 Table 1-7 Summary of Operating Costs ........................................................................................................... 25 Table 1-8 Summary of Economic Results ......................................................................................................... 26 Table 1-9 Gold Price Sensitivity on NPV and IRR ............................................................................................ 26 Table 2-1 Section Qualified Persons ................................................................................................................ 30 Table 6-1 Work History ..................................................................................................................................... 41 Table 6-2 Historical and Existing Island Gold Mine Mineral Resource Estimates ............................................ 43 Table 6-3 Island Gold Mine Production per year .............................................................................................. 44 Table 9-1 2015 – 2019 Summary of Diamond Drilling ...................................................................................... 56 Table 9-2 Diamond Drilling Highlights Results – 2020 Exploration Program ................................................... 58 Table 11-1 Island Gold Mine – 2019 Sample Volume ........................................................................................ 63 Table 11-2 Summary of Preparation and Assay Methods .................................................................................. 64 Table 11-3 Island Gold Mine - QA-QC Program, Certified Reference Material Results (2019) ......................... 68 Table 11-4 Summary of 2019 Blank Performance .............................................................................................. 69 Table 11-5 QA-QC Program, Certified Reference Material Results (2017-2019) ............................................... 70 Table 11-6 2019 Statistics of Duplicate Assays (Internal QA-QC) ..................................................................... 71 Table 11-7 2019 Statistics of Duplicate Assays (External QA-QC) .................................................................... 73 Table 13-1 Drill Holes Head Assays (URSTM) ................................................................................................... 79 Table 13-2 ICP Analysis on Composite Head Sample (URSTM) ....................................................................... 79 Table 13-3 Cyanidation Test Results (URSTM).................................................................................................. 81 Table 13-4 Bond Ball Mill Work Index Test Results Summary (ALS) ................................................................. 82 Table 13-5 Chemical Content Summary (ALS) .................................................................................................. 82 Table 13-6 Mineral Content Summary (ALS) ...................................................................................................... 82 Table 13-7 Cyanidation Tests Summary (ALS) .................................................................................................. 83 Table 13-8 Thickener Sizing and Operating Parameters .................................................................................... 87 Table 14-1 Island Gold Drill Hole Database Summary (Dec 31, 2019) .............................................................

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