NI 43-101 Technical Report and Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada

Val-d’Or Head Office 560, 3e Avenue Val-d’Or (Québec) J9P 1S4

Québec Office Montréal Office Phone: 819-874-0447 725, Lebourgneuf Blvd. 859, Jean-Paul-Vincent Blvd. Toll Free: 866-749-8140 Suite 310-12 Suite 201 Email: [email protected] Québec (Québec) G2J 0C4 Longueuil (Québec) J4G 1R3 Website: www.innovexplo.com

Prepared for

Nighthawk Gold Corp 141 Adelaide St. W., Suite 301 Toronto, Ontario Canada M5H 3L5

Project Location Latitude: 64°24' North; Longitude: 115°05' West Northwest Territories, Canada

Prepared by: Marina Iund, P.Geo., M.Sc. Carl Pelletier, P.Geo. Gustavo Durieux, P.Geo., M.A.Sc. Stéphane Faure, P.Geo., PhD InnovExplo Inc. Val-d’Or (Québec)

Effective Date: July 28, 2020 Signature Date: September 11, 2020

SIGNATURE PAGE – INNOVEXPLO

NI 43-101 Technical Report and Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada

Effective Date: July 28, 2020

(Original signed and sealed) Signed at Québec on September 11, 2020 Marina Iund, P.Geo., M.Sc. InnovExplo Inc. Québec (Québec)

(Original signed and sealed) Signed at Val-d’Or on September 11, 2020 Carl Pelletier, P.Geo. InnovExplo Inc. Val-d’Or (Québec)

(Original signed and sealed) Signed at Longueuil on September 11, 2020 Gustavo Durieux, P.Geo., M.A.Sc. InnovExplo Inc. Longueuil (Québec)

(Original signed and sealed) Signed at Longueuil on September 11, 2020 Stéphane Faure, P.Geo., PhD InnovExplo Inc. Longueuil (Québec)

CERTIFICATE OF AUTHOR – MARINA IUND

I, Marina Iund, P.Geo., M.Sc. (OGQ No. 1525, NAPEG No. L4431), do hereby certify that:

1. I am employed as Project Geologist by InnovExplo Inc. located at 725, Boul. Lebourgneuf, Suite 310-312, Québec, Québec, Canada, G2J 0C4. 2. This certificate applies to the report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada” (the “Technical Report”) with an effective date of July 28, 2020, and a signature date of September 11, 2020. The Technical Report was prepared for Nighthawk Gold Corp. (the “issuer”). 3. I graduated with a Bachelor's degree in geology from Université de Besançon (Besançon, France) in 2008. In addition, I obtained a Master’s degree in Resources and Geodynamic from Université d’Orléans, as well as a DESS’s degree in Exploration and Management of Non-renewable Resources from Université du Québec à Montréal (Montréal, Québec) in 2010. 4. I am a member of the Ordre des Géologues du Québec (OGQ No. 1525), and the Northwest Territories and Nunavut Association of Professional Engineers and Professional Geoscientists (NAPEG licence No. L4431). 5. I have practiced my profession in mineral exploration, mine geology and resource geology for a total of ten (10) years since graduating from university. I acquired my expertise with Richmont Mines Inc. and Goldcorp. I have been a project geologist for InnovExplo Inc. since September 2018. 6. I have read the definition of a qualified person (“QP”) set out in Regulation 43-101/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 QP for the purposes of NI 43-101. 7. I have not visited the property for the purpose of the Technical Report. 8. I am the principal author and responsible for items 4 to 6, 10,11 and 13 as well as co-author of and share responsibility for items 1 to 3, 12, 14 and 25 to 27. 9. I am independent of the issuer applying all of the tests in section 1.5 of NI 43-101. 10. I have not had prior involvement with the property that is the subject of the Technical Report. 11. I have read NI 43-101, and the items of the Technical Report for which I am responsible have been prepared in compliance with that instrument. 12. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Signed this 11th day of September 2020 in Québec, Québec, Canada.

(Original signed and sealed) Marina Iund, P.Geo., M.Sc. InnovExplo Inc. [email protected]

NI 43-101 Technical Report and Mineral Resource Estimate – Indin Lake – SEPTEMBER 2020 iii

CERTIFICATE OF AUTHOR – CARL PELLETIER

I, Carl Pelletier, P.Geo. (OGQ No. 384, PGO No. 1713, EGBC No. 43167 and NAPEG No. L4160), do hereby certify that:

1. I am a professional geoscientist and Co-President Founder of InnovExplo Inc., located at 560, 3e Avenue, Val-d’Or, Québec, Canada, J9P 1S4. 2. This certificate applies to the report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada” (the “Technical Report”) with an effective date of July 28, 2020, and a signature date of September 11, 2020. The Technical Report was prepared for Nighthawk Gold Corp. (the “issuer”). 3. I graduated with a Bachelor’s degree in Geology (B.Sc.) from Université du Québec à Montréal (Montréal, Québec) in 1992, and I initiated a Master's degree at the same university for which I completed the course program but not the thesis. 4. I am a member of the Ordre des Géologues du Québec (OGQ, No. 384), the Association of Professional Geoscientists of Ontario (PGO, No. 1713), the Association of Professional Engineers and Geoscientists of British Columbia (EGBC, No. 43167), the Northwest Territories Association of Professional Engineers and Geoscientists (NAPEG, No. L4160), and the Canadian Institute of Mines (CIM). 5. My relevant experience includes a total of 28 years since my graduation from university. My mining expertise has been acquired at the Silidor, Sleeping Giant, Bousquet II, Sigma-Lamaque and Beaufor mines. My exploration experience has been acquired with Cambior Inc. and McWatters Mining Inc. I have been a consulting geologist for InnovExplo Inc. since February 2004. 6. I have read the definition of a qualified person (“QP”) set out in Regulation 43-101/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 QP for the purposes of NI 43-101. 7. I visited the property from September 11 to 14, 2018. 8. I am I am the co-author of and share responsibility for sections 1 to 3, 12, 14 and 25 to 27. 9. I am independent of the issuer applying all the tests in section 1.5 of NI 43-101. 10. I have not had prior involvement with the property that is the subject of the Technical Report. 11. I have read NI 43-101, and the items of the Technical Report for which I am responsible have been prepared in compliance with that instrument. 12. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Signed this 11th day of September 2020 in Val-d’Or, Québec, Canada.

(Original signed and sealed) Carl Pelletier, P.Geo. InnovExplo Inc. [email protected]

NI 43-101 Technical Report and Mineral Resource Estimate – Indin Lake – SEPTEMBER 2020 iv

CERTIFICATE OF AUTHOR – GUSTAVO DURIEUX

I, Gustavo Durieux, P.Geo. M.A.Sc., OGQ (No. 1148), NAPEG (No. L4221), do hereby certify that:

1. I am employed as Consulting Geologist by InnovExplo Inc. located at 859, Boulevard Jean-Paul Vincent, Suite 201, Longueuil, Québec, Canada, J4G 1R3. 2. This certificate applies to the report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada” (the “Technical Report”) with an effective date of July 28, 2020, and a signature date of September 11, 2020. The Technical Report was prepared for Nighthawk Gold Corp. (the “issuer”). 3. I graduated with a Bachelor’s degree (B.Sc.) in Geology from Université de Montréal (Montréal, Québec) in 1996 and a Master’s degree (M.A.Sc.) in Economic Geology from École Polytechnique (Montréal, Québec) in 2000. 4. I am a member of the Ordre des Géologues du Québec (OGQ No. 1148), and the Northwest Territories and Nunavut Association of Professional Engineers and Professional Geoscientists (NAPEG licence No. L4221). 5. I have worked as geologist for a total of twenty-four (24) years since graduating from university. My expertise was acquired while working as a geologist with exploration and advanced projects for Paramount Ventures and Finances Inc. (Salta, Argentina), Hecla Mining Company (La Libertad, Peru; Maricunga, Chile), Falconbridge Ltd (Raglan mine), Hecla Mining Company (El Callao, Venezuela), Aur Resources Inc. (Michoacan, Mexico; Macuchi, Ecuador), Anglo American plc (Utah; Alaska; Québec), Osisko Mining Corp. (across North America), Mine Canadian Malartic (Malartic, Québec), Yamana Gold Inc. (Québec), Niobay Metals Inc. (Ontario) and Eastmain Resources Inc. (Québec). I have been a consulting geologist for InnovExplo Inc. since April, 2018. 6. I have read the definition of a qualified person (“QP”) set out in Regulation 43-101/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 QP for the purposes of NI 43-101. 7. I visited the property from June 4 to 11, 2019; and from August 20 to 30, 2019. 8. I am the author and responsible for items 8, 9 and 23 as well as co-author of and share responsibility for items 1 to 3, 7 and 25 to 27. 9. I am independent of the issuer applying all of the tests in section 1.5 of NI 43-101. 10. I have not had prior involvement with the property that is the subject of the Technical Report. 11. I have read NI 43-101, and the items of the Technical Report for which I am responsible have been prepared in compliance with that instrument. 12. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Signed this 11th day of September 2020 in Longueuil, Québec, Canada.

(Original signed and sealed) Gustavo Durieux, P. Geo., M.A.Sc. InnovExplo Inc. [email protected]

NI 43-101 Technical Report and Mineral Resource Estimate – Indin Lake – SEPTEMBER 2020 v

CERTIFICATE OF AUTHOR – STEPHANE FAURE

I, Stéphane Faure, P.Geo., PhD., (OGQ No. 306, PGO No. 2662, NAPEG No. L3536), do hereby certify that:

1. I am employed as Geoscience Expert by InnovExplo Inc. located at 859, Boulevard Jean-Paul Vincent, Suite 201, Longueuil, Québec, Canada, J4G 1R3. 2. This certificate applies to the report entitled “NI 43-101 Technical Report and Mineral Resource Estimate for the Indin Lake Gold Property, Northwest Territories, Canada” (the “Technical Report”) with an effective date of July 28, 2020, and a signature date of September 11, 2020. The Technical Report was prepared for Nighthawk Gold Corp. (the “issuer”). 3. I graduated with a Bachelor of Geology degree from Université du Québec à Montréal (Montréal, Québec) in 1987. In addition, I obtained a Master’s degree in Earth Sciences from Université du Québec à Montréal in 1990 and a PhD degree in Geology from the Institut National de la Recherche Scientifique (city of Québec, Québec) in 1995. 4. I am a member of the Ordre des Géologues du Québec (OGQ No. 306), the Association of Professional Geoscientists of Ontario (PGO No. 2662), and the Northwest Territories and Nunavut Association of Professional Engineers and Professional Geoscientists (NAPEG No. L3536). 5. I have practiced my profession continuously as a geologist for a total of twenty-five (25) years since graduating in 1995. I acquired my expertise in mineral exploration with Inmet Mining in Central America and South America, Cambior Inc. in Canada and numerous exploration companies through the Research Consortium in Mineral Exploration. I have been a geological consultant with InnovExplo Inc. since January 2016. 6. I have read the definition of a qualified person (“QP”) set out in Regulation 43-101/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 QP for the purposes of NI 43-101. 7. I visited the property from September 11th to 14th, 2018 and from June 4 to 11, 2019. 8. I am the co-author of and share responsibility for items 1 to 3, 7 and 25 to 27. 9. I am independent of the issuer applying all of the tests in section 1.5 of NI 43-101. 10. I have not had prior involvement with the property that is the subject of the Technical Report. 11. I have read NI 43-101, and the items of the Technical Report for which I am responsible have been prepared in compliance with that instrument. 12. As of the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the Technical Report not misleading.

Signed this 11th day of September 2020 in Longueuil, Québec, Canada.

(Original signed and sealed) Stéphane Faure, P.Geo., PhD. InnovExplo Inc. [email protected]

NI 43-101 Technical Report and Mineral Resource Estimate – Indin Lake – SEPTEMBER 2020 vi

TABLE OF CONTENTS SIGNATURE PAGE – INNOVEXPLO ...... ii CERTIFICATE OF AUTHOR – MARINA IUND ...... iii CERTIFICATE OF AUTHOR – CARL PELLETIER ...... iv CERTIFICATE OF AUTHOR – GUSTAVO DURIEUX ...... v CERTIFICATE OF AUTHOR – STEPHANE FAURE ...... vi TABLE OF CONTENTS ...... vii LIST OF FIGURES ...... xi LIST OF TABLES ...... xiv 1. SUMMARY ...... 16 2. INTRODUCTION ...... 25 2.1 Overview or Terms of Reference ...... 25 2.2 Report Responsibility, Qualified Persons ...... 25 2.3 Site Visits ...... 26 2.4 Effective Date ...... 26 2.5 Sources of Information ...... 26 2.6 Currency, Units of Measure, and Acronyms ...... 26 3. RELIANCE ON OTHER EXPERTS ...... 31 4. PROPERTY DESCRIPTION AND LOCATION ...... 32 4.1 Location ...... 32 4.2 Mineral Titles Status ...... 34 4.2.1 Acquisition of the Colomac Project ...... 36 4.2.2 Acquisition of the Damoti Lake Project ...... 37 4.2.3 Acquisition of other projects ...... 37 4.3 Mineral Royalties ...... 38 4.3.1 Damoti Project ...... 38 4.3.2 Leta Arm Project...... 38 4.4 Permit ...... 38 4.5 Environment ...... 39 4.6 Communication and Consultation with the Community ...... 39 5. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ...... 41 5.1 Accessibility ...... 41 5.2 Climate ...... 43 5.3 Infrastructure and Local Resources ...... 43 5.4 Physiography...... 45 6. HISTORY ...... 46 6.1 Indin Lake Property – Regional Exploration ...... 46 6.2 Colomac Project – Exploration and Development ...... 48 6.3 Colomac Mine – History and Production ...... 53 6.4 Damoti Project – Exploration and Development ...... 53 6.5 Significant Historical Mineral Resource and Reserve Estimates ...... 55 6.5.1 2012 ACA Howe Mineral Resource Estimate ...... 55 6.5.2 Estimate ...... 56 6.5.3 2018 CSA Mineral Resource Estimate ...... 57 7. GEOLOGICAL SETTING AND MINERALIZATION...... 58

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7.1 Regional Geology and Mineralization ...... 58 7.1.1 Indin Lake Property Geology ...... 58 7.1.2 Mineralization of the Indin Lake Property ...... 62 7.2 Colomac Project ...... 65 7.2.1 Colomac Project Geology ...... 65 7.2.2 Colomac Project Mineralization and Alteration ...... 67 7.3 Damoti deposit ...... 80 7.3.1 Damoti deposit – Geology ...... 80 7.3.2 Damoti deposit – Mineralization ...... 80 8. DEPOSIT TYPES ...... 83 8.1 Greenstone-Hosted Quartz-Carbonate Vein Deposits ...... 83 8.2 Banded Iron Formation-Hosted Gold Deposits ...... 84 8.3 Intrusion-Related Gold Systems ...... 84 9. EXPLORATION ...... 85 9.1 Geophysical Surveys ...... 85 9.1.1 2018 IP survey ...... 85 9.1.2 2018 magnetic and gravity surveys...... 86 9.1.3 2019 IP Survey ...... 87 9.2 Surface Exploration ...... 88 9.2.1 2018 summer exploration program ...... 88 9.2.2 2018 structural mapping of the Colomac Project ...... 90 9.2.3 2019 summer exploration program ...... 90 9.2.4 2019 LiDAR survey of the Colomac deposit ...... 93 9.2.5 2019 structural review of the Colomac deposit ...... 93 10. DRILLING ...... 96 10.1 Drilling Methodology ...... 96 10.2 Collar Surveys ...... 96 10.3 Logging Procedures ...... 97 10.4 Metallurgical Testwork ...... 97 10.5 2018-2019 Drilling Program ...... 98 10.5.1 Colomac deposit...... 99 10.5.2 Grizzly Bear deposit ...... 103 10.5.3 Goldcrest deposit ...... 105 10.5.4 Damoti Project ...... 107 10.5.5 Treasure Island Project ...... 109 10.5.6 Leta Arm Project...... 112 10.5.7 Swamp Project ...... 114 11. SAMPLE PREPARATION, ANALYSES AND SECURITY ...... 115 11.1 Core Handling, Sampling and Security ...... 115 11.2 Laboratory Accreditation and Certification ...... 115 11.3 Laboratory Preparation and Assays ...... 116 11.4 Quality Assurance and Quality Control (QA/QC) ...... 116 11.4.1 Certified reference materials (standards) ...... 117 11.4.2 Blank samples ...... 119 11.4.3 Duplicates ...... 121 11.5 Conclusion ...... 124 12. DATA VERIFICATION ...... 125 12.1 Nighthawk Databases ...... 125 12.1.1 Drill hole coordinates ...... 125 12.1.2 Downhole survey ...... 126 12.1.3 Assays ...... 126 12.2 Independent Resampling ...... 127

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12.3 Logging, Sampling and Assaying Procedures ...... 127 12.4 Conclusion ...... 128 13. MINERAL PROCESSING AND METALLURGICAL TESTING ...... 129 13.1 Testwork and results ...... 131 13.1.1 Gold head assay testing ...... 131 13.1.2 SAGDesign testing ...... 131 13.1.3 Gravity concentration ...... 132 13.1.4 Cyanidation ...... 135 13.1.5 Sulphide flotation ...... 135 13.1.6 Gravity + Cyanidation ...... 136 13.2 Conclusion ...... 137 14. MINERAL RESOURCE ESTIMATES ...... 138 14.1 Methodology ...... 138 14.2 Drill Hole Database ...... 139 14.3 Geological Model ...... 140 14.4 Interpretation of Mineralized Zones ...... 140 14.4.1 Colomac deposit...... 140 14.4.2 24/27 deposits ...... 141 14.4.3 Goldcrest deposit ...... 141 14.4.4 Grizzly Bear deposit ...... 141 14.4.5 Damoti deposit ...... 142 14.5 High-Grade Capping ...... 142 14.5.1 Colomac deposit...... 142 14.5.2 24/27 deposits ...... 147 14.5.3 Goldcrest deposit ...... 148 14.5.4 Grizzly Bear deposit ...... 149 14.5.5 Damoti deposit ...... 150 14.6 Compositing ...... 154 14.7 Density ...... 155 14.8 Block Model ...... 156 14.9 Variography and Search Ellipsoids ...... 160 14.9.1 Variography ...... 160 14.9.2 Search Ellipsoids ...... 162 14.10 Grade Interpolation...... 169 14.11 Block Model Validation ...... 170 14.12 Cut-off Parameters ...... 174 14.12.1 Colomac, 24/27, Goldcrest and Grizzly Bear deposits cut-off parameters ...... 174 14.12.2 Damoti deposit cut-off parameters ...... 175 14.13 Mineral Resource Classification ...... 176 14.14 Mineral Resource Estimate ...... 178 15. MINERAL RESERVE ESTIMATES ...... 185 16. MINING METHODS ...... 185 17. RECOVERY METHODS ...... 185 18. PROJECT INFRASTRUCTURE ...... 185 19. MARKET STUDIES AND CONTRACTS ...... 185 20. ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT ...... 185 21. CAPITAL AND OPERATING COSTS ...... 185 22. ECONOMIC ANALYSIS ...... 185 23. ADJACENT PROPERTIES ...... 186

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24. OTHER RELEVANT DATA AND INFORMATION ...... 187 25. INTERPRETATION AND CONCLUSIONS ...... 188 26. RECOMMENDATIONS ...... 192 27. REFERENCES ...... 194 APPENDIX I – LIST OF MINING TITLES ...... 198 APPENDIX II – MINERAL OCCURENCES OF THE INDIN LAKE PROPERTY ...... 206

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LIST OF FIGURES Figure 4-1 – Indin Lake Property location map ...... 33 Figure 4-2 – Map of Indin Lake Property claims and mining leases ...... 35 Figure 5-1 – Property location map showing regional access ...... 42 Figure 5-2 – Colomac camp ...... 44 Figure 5-3 – Property physiography ...... 45 Figure 6-1 – Map of historical work and gold occurrences on the Indin Lake Property ...... 47 Figure 7-1 – Regional geology of the Indin Lake Property ...... 59 Figure 7-2 – Pehrsson and Villeneuve’s (1999) revised schematic lithostratigraphic section for the Indin Lake area ...... 60 Figure 7-3 – Summary of geological events in the Indin Lake area...... 62 Figure 7-4 – Significant gold deposits and showings on the Indin Lake Property ...... 64 Figure 7-5 – Colomac Project geology map showing gold deposits and occurrences ...... 66 Figure 7-6 – Typical geological section through the Colomac deposit – Zone 3.0 ...... 70 Figure 7-7 – Typical geological section through the Goldcrest North Zone ...... 73 Figure 7-8 – Typical geological section through the Grizzly Bear deposit ...... 75 Figure 7-9 – Longitudinal section of zone 24 and 27 ...... 77 Figure 7-10 – Longitudinal section of the Colomac deposit showing deep drill hole intercepts ...... 79 Figure 7-11 – 3D structural interpretation of the Damoti deposit ...... 81 Figure 7-12 – Typical geological section of the Horseshoe syncline of the Damoti deposit ...... 82 Figure 9-1 – Locations of the 2018 IP survey grids on the Indin Lake Property ...... 85 Figure 9-2 – Locations of the 2018 magnetic and gravity survey grids on the Indin Lake Property ...... 87 Figure 9-3 – Locations of the 2019 IP survey grids on the Indin Lake Property ...... 88 Figure 9-4 – 2018 summer exploration surface sampling results for the Indin Lake Property ...... 89 Figure 9-5 – Mineralization styles identified on the Indin Lake Property ...... 91 Figure 9-6 – Selected regional follow-up targets on the Indin Lake Property ...... 92 Figure 9-7 – Structural measurements taken on a high-resolution image superposed over the detailed LiDAR topography in an inaccessible part of the Colomac deposit...... 93 Figure 9-8 – Structural measurements used to construct the 3D litho-structural model for the Colomac deposit...... 94 Figure 9-9 – 3D litho-structural model of the Colomac deposit (Zone 1.5)...... 94 Figure 9-10 – N-S longitudinal section showing the 3D structural model of the Colomac deposit ...... 95 Figure 10-1 – Drilling on the Colomac deposit in 2018 ...... 100 Figure 10-2 – Drilling on the Colomac deposit in 2019 ...... 102 Figure 10-3 – Drilling on the Grizzly Bear deposit in 2018 ...... 104 Figure 10-4 – Drilling on the Goldcrest deposit in 2019 ...... 106 Figure 10-5 – Drilling on the Damoti Project in 2018 ...... 108

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Figure 10-6 – Drilling on the Treasure Island Project in 2018 ...... 109 Figure 10-7 – Drilling on the Treasure Island Project in 2019 ...... 111 Figure 10-8 – Drilling on the North Inca deposit (Leta Arm Project) in 2018 ...... 113 Figure 11-1 – Control chart for standard OREAS 210 assayed by ALS ...... 119 Figure 11-2 – Time series plot for blank samples assayed by ALS (SCR method) ...... 120 Figure 11-3 – Time series plot for blank samples assayed by ALS (AA method) ...... 121 Figure 11-4 – Linear graph comparing original and field duplicate samples above 0.1 g/t for the Colomac Project 2018-2019 Drilling Program ...... 122 Figure 11-5 – Linear graphs comparing original samples and pulp duplicate samples analyzed with the MS- FA method for the Colomac Project 2018-2019 Drilling Program ...... 123 Figure 11-6 – Linear graphs comparing original samples and pulp duplicate samples analyzed with the regular FA method for the Colomac Project 2018-2019 Drilling Program ...... 124 Figure 12-1– Examples of onsite collar location verifications ...... 126 Figure 12-2 – Photographs taken during the drill core review ...... 128 Figure 13-1 – Map of the locations of the sampled drill holes for each of the metallurgical studies ...... 130 Figure 13-2 – Gravity concentration performances at three grinds ...... 134 Figure 14-1 – Graphs supporting a capping value of 50 g/t Au for zones 1.5, 2.0, 2.5, 3.0 and 3.5, Colomac deposit ...... 144 Figure 14-2 – Graphs supporting a capping value of 15 g/t Au for Zone 1.0, Colomac deposit ...... 145 Figure 14-3 – Graphs supporting a capping value of 15 g/t Au for the low-grade envelope, Colomac deposit ...... 146 Figure 14-4 – Graphs supporting the none capping for the 24/27 deposit ...... 147 Figure 14-5 – Graphs supporting a capping value of 30 g/t Au for the Goldcrest deposit ...... 148 Figure 14-6 – Graphs supporting a capping value of 30 g/t Au for the Grizzly Bear deposit ...... 149 Figure 14-7 – Graphs supporting a capping value of 100 g/t Au for high-grade zones (except 2000 to 2200 and 4300), Damoti deposit ...... 151 Figure 14-8 – Graphs supporting a capping value of 45 g/t Au for high-grade zones 2000 to 2200, Damoti deposit ...... 152 Figure 14-9 – Graphs supporting a capping value of 40 g/t Au for high-grade zones 4300, Damoti deposit ...... 153 Figure 14-10 – Graphs supporting a capping value of 20 g/t Au for the low-grade envelopes, Damoti deposit ...... 154 Figure 14-11 – Variography study and search ellipsoid ranges for the Colomac deposit ...... 161 Figure 14-12 – Longitudinal view of the zone wireframes and search ellipsoids (Pass 2) for the Colomac deposit ...... 166 Figure 14-13 – Longitudinal view of the zone wireframes and search ellipsoids (Pass 2) for the 24/27 deposits ...... 167 Figure 14-14 – Longitudinal view of the zone wireframes and search ellipsoids (Pass 2) for the Goldcrest deposit ...... 167

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Figure 14-15 – Longitudinal view of the zone wireframes and search ellipsoids (Pass 1) for the Grizzly Bear deposit ...... 168 Figure 14-16 – 3D view of the zone wireframes and search ellipsoids for the Damoti deposit ...... 168 Figure 14-17 – Validation of the Colomac deposit interpolation results, comparing drill hole assays and block model grade values ...... 171 Figure 14-18 – Swath plot for the Colomac deposit (looking west) ...... 172 Figure 14-19 – Swath plot for the 24/27 deposits (looking north) ...... 172 Figure 14-20 – Swath plot for the Goldcrest deposit (looking west) ...... 173 Figure 14-21 – Swath plot for the Grizzly Bear deposit (cross strike 135°) ...... 173 Figure 14-22 – Swath plot for the Damoti deposit (looking west) ...... 174 Figure 14-23 – Example of the Colomac deposit showing the clipping boundaries for inferred and indicated classification ...... 177

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LIST OF TABLES Table 1-1 – Indin Lake Project 2020 Mineral Resource Estimate by deposit and mining method ...... 20 Table 2-1 – List of acronyms ...... 27 Table 2-2 – List of units ...... 29 Table 2-3 – Conversion factors for measurements ...... 30 Table 4-1 – Ownership history of the Colomac Project ...... 36 Table 4-2 – Nighthakw's Engagement Plan triggers ...... 40 Table 6-1 – Historical ownership changes and historical work on the Colomac Project from 1945 to 2018 ...... 49 Table 6-2 – Historical ownership of the Damoti Property ...... 54 Table 6-3 – Summary of Nighthawk’s 2009 and 2010 exploration drilling program ...... 55 Table 6-4 – ACA Howe’s 2012 inferred mineral resources by zone ...... 56 Table 6-5 – ACA Howe’s 2013 inferred mineral resources by zone ...... 56 Table 6-6 – CSA Global’s 2018 inferred mineral resources by zone ...... 57 Table 7-1 – List of significant gold deposits and showings on the Indin Lake Property ...... 63 Table 10-1 – Drill hole summary for the 2018-2019 Drilling Program on the Indin Lake Property ...... 98 Table 11-1 – Results of standards used during the 2018-2019 Drilling Program on the Colomac Project ...... 117 Table 11-2 – Results of blanks used in the Colomac Project 2018-2019 Drilling Program ...... 120 Table 12-1 – Independent resampling ...... 127 Table 13-1– Indin Lake Property samples used for metallurgical testing ...... 129 Table 13-2 – Head assay results ...... 131 Table 13-3 – SAGDesign ore hardness testwork results ...... 132 Table 13-4 – Average results of three grinds from gravity concentration tests ...... 132 Table 13-5 – Comparison of gold recoveries for different process routes ...... 136 Table 14-1 – Number of drill holes in each database ...... 139 Table 14-2 – Details of the DDH used for the MRE 2020 ...... 139 Table 14-3 – Summary statistics for raw assays by zone, Colomac deposit ...... 143 Table 14-4 – Summary statistics for raw assays, 24/27 deposits ...... 147 Table 14-5 – Summary statistics for raw assays by zone, Goldcrest deposit ...... 148 Table 14-6 – Summary statistics for raw assays, Grizzly Bear deposit ...... 149 Table 14-7 – Summary statistics for raw assays, Damoti deposit ...... 150 Table 14-8 – Summary statistics for the DDH raw assays ...... 154 Table 14-9 – Summary statistics for composites by deposit ...... 155 Table 14-10 – Block model properties ...... 156 Table 14-11 – Block model naming convention and rock codes ...... 157

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Table 14-12 – Variogram model parameters ...... 160 Table 14-13 – Search ellipsoid parameters ...... 162 Table 14-14 – Interpolation strategy by deposit ...... 169 Table 14-15 – Statistical comparison of composite mean grades to block model mean grades for different interpolation methods ...... 170 Table 14-16 – Input parameters used for the cut-off grade estimation (Colomac, 24/27, Goldcrest, Grizzly Bear deposits) ...... 175 Table 14-17 – Input parameters used for the cut-off grade estimation (Damoti deposit) ...... 175 Table 14-18 – Indin Lake Project 2020 Mineral Resource Estimate by deposit and mining method ...... 179 Table 14-19 – Colomac Deposit 2020 Mineral Resource Estimate, cut-off sensitivity by area ...... 180 Table 14-20 – 24/27 Deposits Mineral Resource Estimate, cut-off sensitivity by area ...... 181 Table 14-21 – Goldcrest Deposit Mineral Resource Estimate, cut-off sensitivity by area ...... 181 Table 14-22 – Grizzly Bear Deposit Mineral Resource Estimate, cut-off sensitivity by area ...... 182 Table 14-23 – Damoti Deposit Mineral Resource Estimate, cut-off sensitivity by area ...... 184 Table 25-1 – Risks for the Project ...... 190 Table 25-2 – Opportunities for the Project ...... 191 Table 26-1 – Estimated Costs for the Recommended Work Program...... 193

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1. SUMMARY

Introduction Michael Byron, President and CEO of Nighthawk Gold Corp. (“Nighthawk”), retained InnovExplo Inc. (“InnovExplo”) to prepare a technical report (the “Technical Report”) to present and support the results of a mineral resource estimate (the “2020 MRE”) for the Indin Lake Property (the “Property”) in accordance with Canadian Securities Administrators’ National Instrument 43 101 Respecting Standards of Disclosure for Mineral Projects (“NI 43 101”) and Form 43 101F1. The Property (a.k.a., the Indin Lake Gold Property) is wholly (100%) owned by Nighthawk. It consists of two main projects at an advanced stage of exploration with mineral resource estimates: the Colomac Project containing six main deposits (Colomac, Goldcrest, Grizzly Bear, 24 and 27), and the Damoti Project containing one deposit (Damoti). The Property also includes several projects at an early stage of exploration: Treasure Island, Laurie Lake, Barker-Vidie and Leta Arm. Nighthawk is a Canadian-based gold exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories (“NWT”). The corporate headquarters is located at 141 Adelaide St. W., Suite 301, Toronto, Ontario M5H 3L5. Nighthawk is a public company trading on the Toronto Stock Exchange (TSX) under the symbol NHK, and on the OTCQX under the symbol MIMZF. Originally named Merc International Minerals Inc. (“Merc”), Nighthawk announced its name change on April 30, 2012. InnovExplo is an independent mining and exploration consulting firm based in Val-d’Or, Québec. The 2020 MRE herein follows CIM Definition Standards for Mineral Resources and Mineral Reserves (“CIM Definition Standards”).

Contributors The authors of this Technical Report are all employees of InnovExplo: Marina Iund, P.Geo., M.Sc., Project Geologist; Carl Pelletier, P.Geo., Co-President Founder; Gustavo Durieux, P.Geo., M.A.Sc., Consulting Geologist; and Stéphane Faure, P.Geo., PhD, Geoscience Expert. All the authors are independent qualified persons (“QPs”) as defined by NI 43 101. Ms. Iund is a professional geologist in good standing with the OGQ (permit No. 1525), and the NAPEG (licence No. L4431). She is the principal author and responsible for items 4 to 6, 10,11 and 13 as well as co-author of and shares responsibility for items 1 to 3, 12, 14 and 25 to 27. Mr. Pelletier is a professional geologist in good standing with the OGQ (permit No. 384) PGO (licence No. 1713), EGBC (licence No. 43167). He is the co-author of and shares responsibility for sections 1 to 3, 12, 14 and 25 to 27. Mr. Durieux is a professional geologist in good standing with the OGQ (permit No. 1148), the NAPEG (licence No. L4221). He is the author and responsible for items 8, 9 and 23 as well as co-author of and shares responsibility for items 1 to 3, 7 and 25 to 27.

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Mr. Faure is a professional geologist in good standing with the OGQ (permit No. 306), the PGO (licence No. 2662) and the NAPEG (licence No. L3536). He is the co-author of and shares responsibility for items 1 to 3, 7 and 25 to 27.

Property Description and Location The Property is located in the Indin Lake area of the Northwest Territories, Canada, at latitude 64°24'N, longitude 115°05W, approximately 220 km north of Yellowknife.

The Property comprises 149 mineral titles totalling 90,645 ha, 68 mining leases and 81 staked claims, forming a continuous, north-trending strip approximately 60 km long by 6–22 km wide. Nighthawk owns and controls 100% of the mineral rights to the Property. A total of six (6) mining leases are subject to various royalties. On the Damoti Project, leases 3616, 4572, 4573, 4574 and 4663 are subject to the 1% NSR royalty held by Selkirk in addition to an underlying 2% NSR royalty payable to Covello Bryan & Associates Ltd. On the Leta Arm Project, lease 3328 is subject to an underlying 1.5% NSR royalty held by Adamus Resources Limited and an underlying 0.5% NSR royalty held by Durga Resources Ltd.

Geology The Indin Lake Property lies within the Indin Lake Supracrustal Belt (ILSB), a 300-km- long (2,000-km2) north-northeast trending elongate area of Archean volcanic and sedimentary rocks belonging to the Yellowknife Supergroup. The belt lies in the southwestern part of the Slave Structural Province, 30 km east of the boundary with the Bear Province. Supracrustal rocks of the ILSB have been subdivided into three lithostratigraphic groups – the Hewitt Lake, Leta Arm, and Chalco Lake groups – on the basis of their composition, volcanic facies and distribution of units. The Hewitt Lake Group is a homogeneous sequence of laterally continuous submarine mafic flows and synvolcanic gabbro sills, with minor calc-alkaline felsic volcanic and epiclastic rocks interbedded with the mafic flows. The Hewitt Lake Group is characterized by extensive carbonate alteration and hosts numerous gold deposits including the Colomac deposit, as well as polymetallic and base metal prospects. The Hewitt Lake Group also hosts the Cass, Kim and Snowden gold deposits, which lie outside Nighthawk’s Indin Lake Property area. The Hewitt Lake Group is conformably overlain by the Leta Arm Group, a heterogeneous sequence of submarine to subaerial, tholeiitic and calc-alkaline, mafic through felsic volcanic rocks, and gabbro to quartz diorite synvolcanic intrusions. The Leta Arm Group is unconformably overlain by the Chalco Lake Group, a submarine turbidite sequence of graded greywacke-mudstones, with lesser iron formations, conglomerates and felsic volcanogenic rocks. Chalco Lake Group rock units make up the larger portion of the ILSB. Iron formations of the Chalco Lake Group are the host of the Damoti deposit, as well as numerous gold prospects and occurrences. The Colomac Project is underlain by a 4-km-thick belt of lower greenschist-grade intercalated mafic-intermediate flows, intermediate-felsic volcanics and intermediate intrusives, bounded by metasediments to the east and west. A multiphase, synvolcanic intrusive complex (about 2 km x10 km in area) intrudes the volcanics. The host strata and synvolcanic intrusive complex are strongly deformed, and mafic units have a steeply-

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dipping foliation and a steeply-plunging lineation. The Colomac Sill, a quartz diorite which hosts the Colomac deposit, occurs near the east side of the intrusive sill complex in contact with, or near, andesitic volcanics. The sill strikes north-northeast and dips steeply east subparallel to the host strata. Mineralization at the Colomac deposit has been identified along an approximate 6,7-km strike length of the Colomac Sill and has been divided into a number of somewhat arbitrary zones historically identified from north to south as 1.0, 1.5, 2.0, 2.5, 3.0, 3.5, 4.0 and 5.0. The sill behaved in a brittle manner during regional structural deformation and was amenable to fracturing, fluid transport and mineral deposition, in contrast to the more ductile behavior of the lower more mafic quartz gabbro portion of the sill and the surrounding mafic volcanic rocks. Gold is found in several zones within the sill, in association with parallel sets of tensional quartz veins that consist of lenses of smoky grey quartz within white quartz. The Damoti deposit is underlain by the sedimentary Damoti Basin which is dominated by a turbidite sequence containing interstratified amphibolitic (grunerite) iron formations. The latter form BIFs containing disseminated to laminae-rich magnetite intercalated with laminae and bands of cherty and (amphibole-) silicate facies iron formation. Field evidence suggests that sulphides replace magnetite with gold strongly associated with pyrrhotite-pyrite and to a lesser extent with quartz veining. The iron formations are folded along north to northeast trending axes with the main mineralized zone being a U-shaped syncline fold named the Horseshoe Zone. The bulk of the mineralization has thus far been delineated on the east limb of the Horseshoe syncline. Two main gold deposit models are relevant to most of the ore deposits and showings on the Property: greenstone-hosted quartz-carbonate vein deposits (“GQCV”) and banded iron formation (BIF)-hosted gold deposits. Additionally, following recent detailed geological mapping and sampling, several characteristics of an intrusion-related gold system (“IRGS”) are emerging for the Andy Lake area.

Data Verification InnovExplo’s data verification included visits to the Property, drill sites, outcrops and core logging facilities, as well as an independent review of the data for selected drill holes (surveyor certificates, assay certificates, QA/QC program and results, downhole surveys, lithologies, alteration and structures). Overall, InnovExplo is of the opinion that the data verification process demonstrates the validity of the data and protocols for the Project. InnovExplo considers the Nighthawk Databases to be valid and of sufficient quality to be used for the mineral resource estimate herein.

Mineral Processing and Metallurgical Testing Between 2016 and 2020, four metallurgical studies were conducted on 12 bulk samples. The samples were assayed for gold and tested for grindability using the SAGDesign methodology. Following the grindability test work, additional metallurgical testing was performed to determine the ore’s amenability to various gold recovery processes (cyanide leaching, flotation and gravity recovery of gold at a variety of particle size distributions).

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Testing to date has shown: • The Colomac Sill rock is amenable to all standard gold recovery technologies including, flotation, gravity separation, and heap leaching. • Minimal variation in rock hardness is noted for all test samples indicating a relatively homogeneous host rock. • Utilising a combination of gravity and cyanide leach recovery processes, testing has shown that gold recoveries for all samples tested to-date when ground to a size of 80% passing 106 µm, range from 96.3% to 98.0%, representing a significant increase in recovery over historical production results of 88.1% (1994 to 1997). • Current column leach tests on the four (4) 2018 samples posted gold recoveries that varied from 54.9% to 69.7% and averaging 59.4% for the 206 day run, representing an average increase of 9.6% in recoveries when the leach time was extended for an additional 3 months (~100 additional days). • Current bottle roll leach tests on the four (4) 2018 samples (minus 1.27 mm crushed material ran for 10 days) posted gold recoveries between 31.5% and 49.6% with an average gold recovery of 44.3%. Samples of lower-grade and higher-grade material collected in 2016 and 2017 returned recoveries of 81.8% and 57.5% respectively. • Cyanide heap leach results show considerable variability between testing methods and grade of material processed (recoveries between 31.5% up to 81.8% in all samples tested to date). These preliminary metallurgical results demonstrate that a normal SAG ball mill grinding circuit followed by a gravity-leach or whole ore cyanide leach circuit at a grind size of 150 μm, will be the best process options to consider for recovering gold from the Colomac deposit ore. Preliminary results show that extractions of gold by gravity + cyanidation and whole ore cyanidation methods were similar and averaged 97.1% and 96.8% respectively.

Mineral Resource Estimates The Colomac Project Mineral Resource Estimate (the “2020 MRE”) was prepared by Marina Iund, P.Geo., and Carl Pelletier, P.Geo., using all available information. The result of this study is individual mineral resource estimates for six deposits: Colomac, 24, 27, Goldcrest, Grizzly Bear and Damoti. The resource area has five parts, corresponding to the six deposits covered by the 2020 MRE with deposit 24 and deposit 27 treated as one deposit (“24/27”) for the sake of the study: • Colomac: 5,900 m along strike and up to 950 m wide. Although resources are defined down to 1000 m, the bulk of the resource is located in the first 500 m from surface. • 24/27: 700 m along strike, up to 150 m wide and down to a vertical depth of 250 m below surface.

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• Goldcrest: 1950 m along strike, up to 150 m wide and down to a vertical depth of 600 m below surface. • Grizzly Bear: 800 m along strike, up to 150 m wide and down to a vertical depth of 300 m below surface. • Damoti: 500 m along strike, up to 400 m wide and down to a vertical depth of 300 m below surface. Four (4) diamond drill hole databases cover the Project: Colomac (Colomac, 24 and 27 deposits), Damoti (Damoti deposit), Goldcrest (Goldcrest deposit) and Grizzly Bear (Grizzly Bear deposit). The Colomac database contains 838 validated surface holes. The Damoti database contains 499 validated holes (464 from surface and 35 from underground). The Goldcrest database contains 170 validated surface holes and the Grizzly Bear database contains 77 validated surface holes. A total of 57 wireframed mineralized zones were created for all the deposits. InnovExplo is of the opinion that the current mineral resource estimate can be classified as Indicated and Inferred mineral resources based on data density, search ellipse criteria, drill hole spacing and interpolation parameters. InnovExplo considers the 2020 MRE to be reliable and based on quality data, reasonable assumptions and parameters that follow CIM Definition Standards. Table 1-1 displays the results of the 2020 MRE for each deposit combining potential open pit, underground bulk and underground selective mining scenarios at cut-off grades of 0.6 g/t Au (in pit), 1.30 g/t Au (underground bulk) and 2.0 g/t Au (selective underground), respectively.

Table 1-1 – Indin Lake Project 2020 Mineral Resource Estimate by deposit and mining method

Deposit Area Cut-off Indicated resource Inferred resource (g/t) (mining Tonnage Au Tonnage Au Ounces Ounces method) (000s) (g/t) (000s) (g/t) Open pit 0.6 7,996 1.73 443,800 159 1.46 7,500 Colomac UG Bulk 1.3 14,922 2.21 1,058,800 4,740 2.08 316,500 Open pit 0.6 - - - 375 1.89 22,800 24/27 UG Bulk 1.3 - - - 171 1.92 10,600 Open pit 0.6 1,362 1.56 68,100 8 1.00 300 Goldcrest UG Bulk 1.3 780 2.08 52,200 217 1.79 12,500

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1. The independent and qualified persons for the mineral resource estimate, as defined by NI 43-101, are Marina Iund P.Geo., and Carl Pelletier, P.Geo., both from InnovExplo Inc., and the effective date is July 28,2020. 1. These mineral resources are not mineral reserves, as they do not have demonstrated economic viability. 2. The mineral resource estimate follows current CIM definitions and guidelines for mineral resources. 3. The results are presented undiluted and are considered to have reasonable prospects of economic viability. 4. The estimate encompasses six (6) gold deposits (Colomac, 24, 27, Goldcrest, Grizzly Bear and Damoti), subdivided into 52 zones (6 for Colomac, 1 for 24, 1 for 27, 3 for Goldcrest, 3 for Grizzly Bear and 38 for Damoti), each defined by individual wireframes, with a minimum true thickness of 3.0 m for the Colomac, 24/27, Goldcrest and Grizzly Bear deposits and a minimum true thickness of 2.0 m for the Damoti deposit, using the grade of the material when assayed or a value of zero when not assayed. One (1) low-grade envelope was create using the quartz diorite geological solid for the Colomac deposit and four (4) low-grade envelopes were create using the BIF geological solid for the Damoti deposit. The resource was estimated using GEOVIA GEMS 6.8.2. 5. High-grade capping supported by statistical analysis was done on raw assay data before compositing and established on a per-zone basis. Colomac deposit: all zones were capped at 50 g/t, except for the low-grade Zone 1.0 and the low- grade envelope, which were capped at 15 g/t; 24/27 deposits: not capped; Goldcrest and Grizzly Bear deposits: all zones were capped at 30 g/t; Damoti deposit: all high-grade zones were capped at 100 g/t, except zones 2000, 2100 and 2200 which were capped at 45 g/t and Zone 4300, which was capped at 40 g/t. The low-grade envelopes were capped at 20 g/t. 6. Grade interpolation was performed with the ID3 method on 1.5 m composites for the Colomac, Goldcrest and Grizzly Bear deposits, with the ID2 method on 1.5-m composites for the 24/27 deposit, and with the OK method on 1.0-m composites for the Damoti deposit. The Colomac, 24/27, Goldcrest, Grizzly Bear block models have a block size of 5.0 m by 10.0 m by 10.0 m, and the Damoti block model has a block size of 3.0 m by 3.0 m by 3.0 m. 7. Bedrock was assigned a density value of 3.2 g/cm3 for the Damoti deposit and a value of 2.7 g/cm3 for the Colomac, 24/27, Goldcrest and Grizzly Bear deposits, corresponding to the mean of SG measurements. A fixed density value of 2.00 g/cm3 was assigned to the overburden. 8. The mineral resource estimate is classified as indicated and inferred. For the Colomac, 24/27, Goldcrest and Grizzly Bear deposits, the Inferred category is defined with a minimum of two (2) drill holes within the areas where the drill spacing is less than 75 m and shows reasonable geological and grade continuity. The Indicated mineral resource category is defined with a minimum of tree (3) drill holes within the areas where the drill spacing is less than 50 m. For the Damoti deposit, the Inferred category is defined with a minimum of two (2) drill holes within the areas where the drill spacing is less than 60 m and shows reasonable geological and grade continuity. Clipping boundaries were used for classification based on those criteria. 9. The mineral resource estimate is locally pit-constrained with a bedrock slope angle of 50° and an overburden slope angle of 30°. It is reported at a rounded cut-off grade of 0.6 g/t Au (in pit), 1.30 g/t Au (underground bulk) and 2.0 g/t Au (underground selective). The cut-off grades were calculated using the following parameters: mining cost = $4.79 to $65.00; processing cost = 22.50 to CA$ 25.00; G&A = 8.00 to CA$ 18.00; refining and selling costs = CA$ 5.00; gold price = US$ 1,425.00/oz; USD:CAD exchange rate = 1.33; and mill recovery = 97.0%. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.). 10. The number of metric tonnes was rounded to the nearest thousand, following the recommendations in NI 43-101 and any discrepancies in the totals are due to rounding effects. The metal contents are presented in troy ounces (tonnes x grade / 31.10348). 11. InnovExplo Inc. is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, or marketing issues, or any other relevant issue not reported in the Technical Report, that could materially affect the Mineral Resource Estimate.

Interpretation and Conclusions After conducting a detailed review of all pertinent information and completing the 2020 MRE mandate, InnovExplo concludes the following: • The database supporting the 2020 MRE is complete, valid and up to date. • Geological and gold grade continuity has been demonstrated for all 52 mineralized zones and 5 low-grade envelopes. • The key parameters of the 2020 MRE (density, capping, compositing, interpolation, search ellipsoid, etc.) are supported by data and statistical and/or geostatistical analysis. • The 2020 MRE includes indicated and inferred resources for a combination of three mining methods: open pit, underground bulk and underground selective.

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• Three cut-off grades of 0.60, 1.30 and 2.00 g/t Au were used, corresponding respectively to potential open pit, underground bulk and underground selective mining scenarios. • Cut-off grades were calculated at a gold price of US$1,425 per troy ounce and an exchange rate of 1.33 USD/CAD, using reasonable mining, processing and G&A costs. • In a combined pit and bulk underground mining scenario, the Colomac Project contains an estimated Indicated Resource of 1,668,000 ounces, and an Inferred Resource of 372,500 ounces. In a selective underground mining scenario, the Damoti Lake Project contains an estimated Inferred Resource of 117,800 ounces. • Based on preliminary metallurgical tests, the Colomac deposit appears amenable to all standard gold recovery processes. A combination of gravity and cyanide leach processes has shown a gold recovery ranging from 96.3% to 98.0%. However, no optimization or economic studies have been conducted at this time to determine which potential process flowsheet is most appropriate. • Additional diamond drilling on multiple zones would likely upgrade some of the inferred resource to the indicated category, and add to the inferred resource since most of the mineralized zones have not been fully explored along strike or to depth. At this stage, it is reasonable to believe that somewhere between 18 and 23 Mt at grades between 1.8 and 2.0 g/t Au, for a total somewhere between 1.0 and 1.5 Moz, may be added to the current resources of the Colomac deposit by drilling the extensions of currently defined mineralized zones at depth and laterally. For Damoti, it is reasonable to believe that somewhere between 0.6 and 0.7 Mt at grades between 4.5 and 5.0 g/t Au, for a total somewhere between 0.1 and 0.125 Moz, may be added to the current resources by drilling the continuity of the BIF units. The reader should be cautioned that this exploration target is not a mineral resource estimate and is conceptual in nature. There has been insufficient exploration to define this as a mineral resource, and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource. While the Colomac, Leta Arm, Treasure Island, and Damoti Lake projects are at a more advanced stage of exploration, the majority of the Property remains at an early stage of exploration.

Recommendations Based on the results of the 2020 MRE, InnovExplo make the following recommendations: Colomac Project • Colomac: Additional exploration drilling using a regular drilling grid to satisfy inferred resource category criteria. The exploration drilling should be targeted in the dip extension of the ore shoots identified in the litho- structural model and in the resource block model to test the potential mainly in the depth extension of the deposit, but also in the lateral extensions.

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• Goldcrest and Grizzly Bear: Additional exploration drilling in the lateral and depth extensions to increase the inferred resource. • 24/27: Compilation work to integrate historical data in the deposit, interpretation and additional exploration drilling in the lateral and depth extensions. The 24/27 deposit is the smallest portion of the Colomac Project MRE but represents very good potential for resource growth. Damoti Project • Additional exploration drilling along the continuity of the BIF to discover additional favorable areas for gold mineralisation and additional resource. InnovExplo suggest to target the, still open, north part of the central fold, the under-explored east limb of the western third fold, and more generally, areas of the BIF with low magnetic response as there is good correspondence between low magnetism, alteration and gold values observed in the Damoti BIF. • Metallurgical testwork to yield a better assessment of the recovery rate and milling cost assumptions in the cut-off grade calculation for a future MRE update. • Survey program for historical drill-hole collars and ramp access to confirm the exact location of the drill-holes. This would allow conversion of some of the inferred resource to indicated resource. Indin Lake Property • Regional exploration drilling on the more prominent satellite targets including the Leta Arm Gold Project and the Treasure Island Gold Project. Conditional upon successful drilling, it could yield to mineral resource estimate. • Continued regional exploration work, including drilling, on a number of regional prospects while maintaining a similar scale of activity on many of the high- profile projects with the goal of advancing known deposits and showings and to make new discoveries.

In parallel, to support the advancement of the projects, InnovExplo recommends increasing bulk density measurements, proceed with additional metallurgical testwork, and to complete an economic study at a PEA level that would include all the deposits. InnovExplo also recommends continuing to maintain a pro-active and transparent strategy and communication plan with local communities and First Nations. An environmental baseline study should also be part of the planning process. InnovExplo has prepared a cost estimate for the recommended two-phase work program to serve as a guideline. The budget for the proposed program is presented in Table 26.1. Expenditures for Phase 1 are estimated at C$15,065,000 (incl. 15% for contingencies). Expenditures for Phase 2 are estimated at C$580,000 (incl. 15% for contingencies). The grand total is C$15,645,000 (incl. 15% for contingencies). Phase 2 is contingent upon the success of Phase 1.

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Estimated Costs for the Recommended Work Program (Table 26.1)

PHASE 1 WORK PROGRAM BUDGET COST 1A Conversion and exploration drilling (50,000 m) $14,000,000 1B Colomac camp expansion $800,000 1C Surface mapping and sampling $75,000 1D Metallurgical test work and density program $50,000 1E Environmental monitoring $50,000 1F Permitting $50,000 1G Survey program on the Damoti Project $25,000 1H Compilation work on the 24/27 deposit $15,000 Phase 1 subtotal 15,065,000

PHASE 2 WORK PROGRAM BUDGET COST 2A MRE up-date and PEA $350,000 2B Environmental baseline study $170,000 2C Community relations and communication plan $60,000 Phase 2 subtotal $580,000

TOTAL (Phase 1 and Phase 2) $15,645,000

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2. INTRODUCTION

2.1 Overview or Terms of Reference Michael Byron, President and CEO of Nighthawk Gold Corp. (“Nighthawk”), retained InnovExplo Inc. (“InnovExplo”) to prepare a technical report (the “Technical Report”) to present and support the results of a mineral resource estimate (the “2020 MRE”) for the Indin Lake Property (the “Property”) in accordance with Canadian Securities Administrators’ National Instrument 43-101 Respecting Standards of Disclosure for Mineral Projects (“NI 43-101”) and Form 43-101F1. The Property (a.k.a., the Indin Lake Gold Property) is wholly (100%) owned by Nighthawk. It consists of two main projects at an advanced stage of exploration with mineral resource estimates: the Colomac Project containing six main deposits (Colomac, Goldcrest, Grizzly Bear, 24 and 27), and the Damoti Project containing one deposit (Damoti). The Property also includes several projects at an early stage of exploration: Treasure Island, Laurie Lake, Barker-Vidie and Leta Arm. Nighthawk is a Canadian-based gold exploration company focused on acquiring and developing gold mineral properties in the Northwest Territories (“NWT”). The corporate headquarters is located at 141 Adelaide St. W., Suite 301, Toronto, Ontario M5H 3L5. Nighthawk is a public company trading on the Toronto Stock Exchange (TSX) under the symbol NHK, and on the OTCQX under the symbol MIMZF. Originally named Merc International Minerals Inc. (“Merc”), Nighthawk announced its name change on April 30, 2012. InnovExplo is an independent mining and exploration consulting firm based in Val-d’Or, Québec. The 2020 MRE herein follows CIM Definition Standards for Mineral Resources and Mineral Reserves (“CIM Definition Standards”).

2.2 Report Responsibility, Qualified Persons The authors of this Technical Report are all employees of InnovExplo: Marina Iund, P.Geo., M.Sc., Project Geologist; Carl Pelletier, P.Geo., Co-President Founder; Gustavo Durieux, P.Geo., M.A.Sc., Consulting Geologist; and Stéphane Faure, P.Geo., PhD, Geoscience Expert. All the authors are independent qualified persons (“QPs”) as defined by NI 43-101.

Ms. Iund is a professional geologist in good standing with the OGQ (permit No. 1525), and the NAPEG (licence No. L4431). She is the principal author and responsible for items 4 to 6, 10,11 and 13 as well as co-author of and shares responsibility for items 1 to 3, 12, 14 and 25 to 27.

Mr. Pelletier is a professional geologist in good standing with the OGQ (permit No. 384) PGO (licence No. 1713), EGBC (licence No. 43167). He is the co-author of and shares responsibility for sections 1 to 3, 12, 14 and 25 to 27.

Mr. Durieux is a professional geologist in good standing with the OGQ (permit No. 1148), the NAPEG (licence No. L4221). He is the author and responsible for items 8, 9 and 23 as well as co-author of and shares responsibility for items 1 to 3, 7 and 25 to 27.

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2.3 Site Visits Mr. Pelletier visited the Property on one occasion (from September 11 to 14, 2018). During the visits, he reviewed selected historical drill core, inspected the core storage facility, and visited outcrops and open pits. He also collected drill core samples and surveyed drill hole collars for independent validation. Mr. Durieux visited the Property on two occasions (from June 4 to 11, 2019, and from August 20 to 30, 2019). During the visits he reviewed selected historical drill core, inspected the core storage facility, and visited outcrops and former open pit operations. He also conducted regional-scale field validations of designated potentially mineralized areas. Mr. Faure visited the Property on two occasions (from September 11 to 14, 2018, and from June 4 to 11, 2019). During the visits he reviewed selected historical drill core, inspected the core storage facility, and visited outcrops and open pits. He also collected drill core samples and surveyed drill hole collars for independent validation.

2.4 Effective Date The close-out date of the mineral resource database is January 23, 2020. The effective date of the 2020 MRE is July 28, 2020.

2.5 Sources of Information The documents listed in items 3 and 27 were used to support this Technical Report. Excerpts or summaries from documents authored by other consultants are indicated in the text. The authors’ assessment of the Project was based on published material in addition to the data, professional opinions and unpublished material submitted by the issuer. The authors reviewed all relevant data provided by the issuer and/or by its agents. The author also consulted other sources of information, mainly the Government of NWT’s online claim, lease and permits databases (Mineral Tenure Map Viewer), as well as Nighthawk’s technical reports, annual information forms, MD&A reports and press releases published on SEDAR (www.sedar.com). The authors reviewed and appraised the information used to prepare this Technical Report, including the conclusions and recommendations, and believe that such information is valid and appropriate considering the status of the project and the purpose for which this Technical Report is prepared. The authors have thoroughly researched and documented the conclusions and recommendations made in this Technical Report.

2.6 Currency, Units of Measure, and Acronyms The abbreviations, acronyms and units used in this report are provided in Table 2-1 and Table 2-2. All currency amounts are stated in Canadian Dollars ($, C$, CAD) or US

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dollars (US$, USD). Quantities are stated in metric units, as per standard Canadian and international practice, including metric tons (tonnes, t) and kilograms (kg) for weight, kilometres (km) or metres (m) for distance, hectares (ha) for area, percentage (%) for copper and nickel grades, and gram per metric ton (g/t) for precious metal grades. Wherever applicable, imperial units have been converted to the International System of Units (SI units) for consistency (Table 2-3).

Table 2-1 – List of acronyms

Acronyms Term 43-101 National Instrument 43-101 (Regulation 43-101 in Québec) AA Atomic Absorption spectroscopy AANDC Aboriginal Affairs and Northern Development Canada Az Azimuth BIF Banded iron formation CAD:USD Canadian-American exchange rate CIM Canadian Institute of Mining, Metallurgy and Petroleum CIM Definition Standards for Mineral Resources and CIM Definition Standards Mineral Reserves CIP Carbon in pulp CoG cut-off grade CRM Certified reference material DDH Diamond drill hole DIAND Affairs and Northern Development FA Fire assay FS Feasibility study G&A General and administration GNWT Government of Northwest Territories GPR Gross production royalty GQCV Greenstone-hosted quartz-carbonate vein deposits GRAV Gravimetric finish method ID2 Inverse distance square ID3 Inverse distance cube ICP Inductively coupled plasma ICP-OES Inductively coupled plasma - optical emission spectrometry IEC International Electrotechnical Commission INAC Indigenous and Northern Affairs IOCG Iron oxide copper gold IP Induced Polarization IRGS Intrusion-related gold system

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Acronyms Term ISO International Organization for Standardization LIDAR (or LiDAR) Light detection and ranging JV Joint venture JV Joint venture LUP Land Use Permit MRE Mineral resource estimate MS-FA Metallic screen analysis NAD 83 North American Datum of 1983 Northwest Territories and Nunavut Association of Professional NAPEG Engineers and Geoscientists NI 43-101 National Instrument 43-101 (Regulation 43-101 in Québec) NN Nearest neighbour NORMIN Northern Mineral Showings NTGS Northwest Territories Geological Survey NSMA North Slave Métis Alliance NSR Net smelter return NTS National Topographic System NWT Northwest Territories OGQ Ordre des Géologues du Québec OK Ordinary kriging PEA Preliminary Economic Assessment PFS Prefeasibility study PGE Platinum Group Elements PGO Professional Geoscientists Ontario QA Quality assurance QA/QC Quality assurance/quality control QC Quality control QP Qualified person (as defined in National Instrument 43-101) Regulation 43-101 National Instrument 43-101 RQD Rock quality designation SAG Semi-autogenous-grinding SCC Standards Council of Canada SD Standard deviation SEDEX Sedimentary exhalative deposits SG Specific gravity TASR project Tłı̨ chǫ all-season road project TG Tłįchǫ Government

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Acronyms Term UG Underground UTM Universal Transverse Mercator coordinate system UV Ultraviolet VLF-EM Very low frequency Electromagnetic VMS Volcanogenic Massive Sulphide WRRB Wekʼèezhìi Renewable Resources Board XRF X-ray fluorescence

Table 2-2 – List of units

Symbol Unit % Percent % solids Percent solids by weight $, C$ Canadian dollar $/t Dollars per metric ton ° Angular degree °C Degree Celsius μm Micron (micrometre) avdp Avoirdupois cm Centimetre cm3 Cubic centimetre ft Foot (12 inches) g Gram g/cm3 Gram per cubic centimetre g/L Gram per litre g/t Gram per metric ton (tonne) h Hour (60 minutes) ha Hectare kg Kilogram kg/t Kilogram per metric ton km Kilometre km2 Square kilometre kW Kilowatt kWh/t Kilowatt-hour per metric ton L Litre lb Pound m Metre m3 Cubic metre

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Symbol Unit Ma Million years (annum) masl Metres above mean sea level mm Millimetre Moz Million (troy) ounces Mt Million metric tons MW Megawatt oz Troy ounce oz/t Ounce (troy) per short ton (2,000 lbs) ppb Parts per billion ppm Parts per million Sq.km Square kilometre t Metric tonne (1,000 kg) ton Short ton (2,000 lbs) tpd Metric tonnes per day US$ American dollar

Table 2-3 – Conversion factors for measurements

Imperial Unit Multiplied by Metric Unit

1 inch 25.4 mm 1 foot 0.3048 m 1 acre 0.405 ha 1 ounce (troy) 31.1035 g 1 pound (avdp) 0.4535 kg 1 ton (short) 0.9072 t 1 ounce (troy) / ton (short) 34.2857 g/t

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3. RELIANCE ON OTHER EXPERTS

This Technical Report has been prepared by InnovExplo at the request of Nighthawk. The QPs assigned to the current mandate are Marina Iund (P.Geo., M.Sc.), Carl Pelletier (P.Geo.), Gustavo Durieux (P.Geo., M.A.Sc.) and Stéphane Faure (P.Geo., PhD) of InnovExplo. The mandate is a mineral resource estimate for the Project. The QPs relied on the following people or sources of information during the preparation of this Technical Report: • In addition to technical information, the issuer supplied information on mining titles, option agreements, royalty agreements, environmental liabilities, and permits. InnovExplo verified the online status of the mining titles and consulted the information provided by the issuer as well as public sources of relevant technical information. InnovExplo is not qualified to express any legal opinion with respect to property titles, current ownership or possible litigation. • Simon Boudreau, P.Eng., of InnovExplo, provided the parameters used to calculate the official cut-off grade and pit shell for the mineral resource estimate for the open-pit. • Marcel St-Laurent, P.Eng., of InnovExplo, reviewed and provided the parameters used to calculate the official cut-off grade for underground potential resources. • Venetia Bodycomb (M.Sc.) of Vee Geoservices provided critical and linguistic editing of a draft version of this Technical Report.

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4. PROPERTY DESCRIPTION AND LOCATION

4.1 Location The Property is located in the Indin Lake area of the Northwest Territories, Canada, at latitude 64°24'N, longitude 115°05’W, approximately 220 km north of Yellowknife ( From: Nighthawk, 2020. Figure 4-1).

The UTM coordinates of the approximate centre of the Property are 592000 E, 7143000 N (NAD 83, Zone 11). The Project lies on NTS map sheet 86B06.

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From: Nighthawk, 2020. Figure 4-1 – Indin Lake Property location map

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4.2 Mineral Titles Status Nighthawk supplied all mineral titles maps and tables. InnovExplo verified the status of all mineral titles using Mineral Tenure Map Viewer, the NWT internet-based electronic mineral titles management system (maps.geomatics.gov.nt.ca, 2020) The Property comprises 149 mineral titles totalling 90,645 ha, 68 mining leases and 81 staked claims, forming a continuous, north-trending strip approximately 60 km long by 6–22 km wide (From: Nighthawk, 2020. Figure 4-2). The lands of the Property are subject to annual mining lease rentals and claim work requirements (consult www.nighthawkgold.com for more details). Nighthawk owns and controls 100% of the mineral rights to the Property. The Property is subject to various royalties, agreements and encumbrances, as discussed in the sections below. A detailed list of mineral titles, ownership, royalties and expiration dates is provided in Appendix I. Much of the information on acquisitions was taken from the previous technical report entitled “NI 43-101 Technical Report on the Indin Lake Property – Colomac Project, Indin Belt, Northwest Territories, Canada”, prepared by CSA Global Canada Geosciences Ltd (“CSA Global”) (Trinder et al., 2018). In April 2012, the company, previously named Merc, changed his name for Nighthawk. For the sake of simplicity, the company is referred to as Nighthawk in this chapter.

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From: Nighthawk, 2020. Figure 4-2 – Map of Indin Lake Property claims and mining leases

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4.2.1 Acquisition of the Colomac Project The Department of Indian Affairs and Northern Development (“DIAND”, subsequently “AANDC”, and now “INAC”) became the owner of the mineral claims and leases of the former producing Colomac Gold Mine on January 12, 2000 by way of an Ontario Superior Court of Justice’s order dated December 13, 1999, following the receivership of Royal Oak Mines Inc. (“Royal Oak”) and its related companies. As per the court order, all rights, titles and interests of Royal Oak and the Interim Receiver in and to the Colomac Transferred Assets were conveyed to DIAND free and clear of any and all claims, estates, rights, titles and interests of all persons holding, or who were the beneficiaries of, encumbrances, mortgages, orders, charges, liens, security interests, pledges and writs of execution. Also, no person, firm, or corporation could be entitled to any royalty or other payment in the nature of rent or royalty on any minerals produced or removed from the Colomac Transferred Assets. (Trinder et al., 2018). On January 26, 2012, Nighthawk acquired the Project from DIAND. At the time of Nighthawk’s acquisition, the Colomac Project comprised nine leases and two mining claims. In 2013, Nighthawk converted mining claim NWG#1 (F19111) to lease 5396, and in 2015, converted mining claim RO 12 (F15708) to lease NT-0007. Table 4-1 presents the ownership history of the Colomac Project’s current mining leases. Given the clear title provided when the Interim Receiver conveyed to DIAND all rights, titles and interests of Royal Oak and the Interim Receiver in and to the Colomac Transferred Assets, the author considers it unnecessary to detail the extensive ownership history of the historical mining claims underlying the leases, which has been previously described in Trinder (2013).

Table 4-1 – Ownership history of the Colomac Project

Lease Ownership Issued Expiry Ownership transfer from Ownership transfer to no. change 2012-01-26 AANDC Nighthawk Gold Corp. 2000-01-12 Royal Oak Mines Inc. DIAND 2661 1974-02-28 2028-03-13 1993-04-05 Neptune Resources Corp. Royal Oak Mines Inc. 1989-05-04 Johnsby Mines Limited Neptune Resources Corp. 1974-02-28 - Johnsby Mines Limited 2012-01-26 AANDC Nighthawk Gold Corp. 2000-01-12 Royal Oak Mines Inc. DIAND 2662 1974-02-28 2028-03-13 1993-04-05 Neptune Resources Corp. Royal Oak Mines Inc. 1989-05-04 Johnsby Mines Limited Neptune Resources Corp. 1974-02-28 - Johnsby Mines Limited 2012-01-26 AANDC Nighthawk Gold Corp. 2000-01-12 Royal Oak Mines Inc. DIAND 3211 1986-03-06 2022-03-20 1993-04-05 Neptune Resources Corp. Royal Oak Mines Inc. 1989-05-04 Johnsby Mines Limited Neptune Resources Corp. 1986-03-06 - Johnsby Mines Limited 2012-01-26 AANDC Nighthawk Gold Corp. 2000-01-12 Royal Oak Mines Inc. DIAND 3288 1989-02-08 2022-02-22 1993-04-05 Neptune Resources Corp. Royal Oak Mines Inc. 1989-05-04 Johnsby Mines Limited Neptune Resources Corp.

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Lease Ownership Issued Expiry Ownership transfer from Ownership transfer to no. change 1989-02-08 - Johnsby Mines Limited 2012-01-26 AANDC Nighthawk Gold Corp. 3524 1994-12-01 2027-12-15 2000-01-12 Royal Oak Mines Inc. DIAND 1994-12-01 - Royal Oak Mines Inc. 2012-01-26 AANDC Nighthawk Gold Corp. 3526 1994-12-01 2027-12-15 2000-01-12 Royal Oak Mines Inc. DIAND 1994-12-01 - Royal Oak Mines Inc. 2012-01-26 AANDC Nighthawk Gold Corp. 3527 1994-12-01 2027-12-15 2000-01-12 Royal Oak Mines Inc. DIAND 1994-12-01 - Royal Oak Mines Inc. 2012-01-26 AANDC Nighthawk Gold Corp. 3528 1994-12-01 2027-12-15 2000-01-12 Royal Oak Mines Inc. DIAND 1994-12-01 - Royal Oak Mines Inc. 2012-01-26 AANDC Nighthawk Gold Corp. 3529 1994-12-01 2027-12-15 2000-01-12 Royal Oak Mines Inc. DIAND 1994-12-01 - Royal Oak Mines Inc. - Nighthawk Gold Corp. 2013-05-14 2034-05-14 Previously claim NWG#1

(F19111) 5396 2012-01-26 Nighthawk Gold Corp. AANDC 2000-01-12 DIAND 1991-02-07 2013-02-07 Royal Oak Mines Inc. 1991-02-07 Royal Oak Mines Inc. - - Nighthawk Gold Corp. Previously claim RO12 2015-05-15 2036-05-15 NT- (F15708) 2012-01-26 Nighthawk Gold Corp. 007 AANDC 1994-05-13 2015-05-13 2000-01-12 DIAND Royal Oak Mines Inc. 1994-05-13 Royal Oak Mines Inc. - From: Trinder et al., 2018.

4.2.2 Acquisition of the Damoti Lake Project In September 2008, Nighthawk purchased a 100% interest in Damoti Lake mining lease 3617 and an 80% interest in Damoti Lake mining leases 4574, 4572, 4663, 4573, 3616 from Anaconda Mining Inc. for $250,000 and 1,250,000 Nighthawk common shares. At the time, Selkirk Metals Corp. (Selkirk) — a wholly-owned subsidiary of Imperial Metals Corporation — held the remaining 20% interest. (Trinder et al., 2018) On May 10, 2010, Nighthawk’s interest increased to 100%, and Selkirk’s interest was diluted to a 1% NSR royalty on leases 4574, 4572, 4663, 4573 and 3616 when Selkirk elected not to participate in the exploration budget.

4.2.3 Acquisition of other projects Between 2009 and 2011, Nighthawk staked a 100% undivided interest in the 115 claims.

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On January 7, 2011, Nighthawk optioned from Ursa Polaris Developments Corporation (Ursa), the Treasure Island, Laurie Lake, and Barker-Vidie claims, and the Leta Arm mining leases. The option payment schedule was amended on April 4, 2013. The projects comprise fifteen (15) leases (1,328 ha) and three (3) staked claims (962 ha) totalling 2,290 ha (From: Nighthawk, 2020. Figure 4-2; Appendix I). Under the 2011 option agreement with Ursa and the subsequent 2013 amendment, Nighthawk earned a 100% undivided interest in the properties effective July 31, 2014 (other than the royalties detailed below) by completing the payments. (Trinder et al., 2018)

On December 18, 2013, Nighthawk announced an option/purchase agreement to acquire four (4) mining leases (Cass and Kim properties) from Geomark Exploration Ltd. On December 29, 2015 Nighthawk announced that it was terminating the option/purchase agreement. This reduced Nighthawk’s holdings in the Indin Lake Gold Property by 3,070 ha to the present reported 89,922 ha.

4.3 Mineral Royalties A total of six (6) mining leases are subject to various royalties, agreements and encumbrances for Damoti Lake (5 leases) and Leta Arm (1 lease). The details are presented below and summarized in Appendix I.

4.3.1 Damoti Project On the Damoti Project, leases 3616, 4572, 4573, 4574 and 4663 are subject to the 1% NSR royalty held by Selkirk in addition to an underlying 2% NSR royalty payable to Covello Bryan & Associates Ltd.

4.3.2 Leta Arm Project On the Leta Arm Project, lease 3328 is subject to: • An underlying 1.5% NSR royalty held by Adamus Resources Limited, pursuant to an agreement with George Stephenson dated November 19, 2007. • An underlying 0.5% NSR royalty held by Durga Resources Ltd, pursuant to an agreement with Leader Mining Corporation and Ursa dated December 30, 1993.

4.4 Permit In 2019, the issuer received land use permits and water licences approving its exploration activities over the next 5 years. The permits and licences expire in February 2024, but are extendible up to February 2026. The permits cover all claims and mining leases within the Property. Nighthawk holds a Land Use Permit (“LUP”), W2018C0007 Class A, and Water Use Permits, W2018L2-0002 (federal lands) Type B and W2018L2-0003 Type B (non-federal lands). The issuer also holds LUP W2018X0006, which covers remediation of the Damoti Lake, Diversified, Chalco Lake, and Spider Lake sites. Water Use Permit W2018L2-0002 entitles Nighthawk to withdraw up to 299 m3 of water per day.

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The issuer also holds a valid GNWT Prospector's Licence, No. 33742, and a federal NWT-AANDC Prospector’s Licence, No. NEF0012.

4.5 Environment The Colomac mine site was rehabilitated from 2005 to 2011 by DIAND (now INAC). The work involved the tailings containment management area, the construction of tailings dams, the restoration of diversion ditches and sumps, quarry remediation, the construction of caribou berms, hydrocarbon remediation, the removal of mining and milling infrastructures, and the demolition of facilities and site cleanup with disposal in a non-hazardous landfill (Pit 2.5). Remediation work was completed in 2011. A long-term monitoring phase began in 2012 under INAC’s Northern Contaminated Sites Program and includes the continuation of the program to address residual hydrocarbons in bedrock. Environmental monitoring includes water quality, water levels in lakes and pits, the geotechnical stability of Dam 1B, tailings cap, spillway and discharge channel, and non-hazardous landfill. Monitoring will continue at the site until it can be determined that remediation has been effective and that site conditions have reached a steady state. On January 2012, Nighthawk acquired the Colomac Project from DIAND. In consideration for the conveyance of the Colomac claims and leases, Nighthawk committed to reclaim three disturbed historical exploration sites within Nighthawk's surrounding Indin Lake land package. Reclamation will be carried out on behalf of INAC to a maximum of $5 million. At closing, Nighthawk posted a security of $5 million in favour of INAC in order to secure Nighthawk’s obligation to perform the required reclamation. Nighthawk will not assume the reclamation liabilities directly. The security will be returned to Nighthawk upon the completion of remediation activities to the satisfaction of an independent third-party engineer (Nighthawk press release, December 15, 2011). On March 21, 2013, Nighthawk announced $1 million from the security posted in favour of INAC was returned to Nighthawk and added back into treasury following the successful reclamation of one of the three historical sites. Nighthawk is not responsible for any historical environmental liabilities associated with the Colomac mine site. Since the acquisition, the issuer has cleaned up the Chalco Lake site and has commenced remediation work on the Diversified, and Spider Lake sites. InnovExplo is not aware of any other environmental liabilities related to the Project.

4.6 Communication and Consultation with the Community The Indin Lake Property is located in the Wek’èezhìı region of the NWT. The Wek'èezhìi region is the management area of the Tłįchǫ Government (TG), with the Wekʼèezhìi Renewable Resources Board (WRRB) having the wildlife co-management authority for the region as established by the Tłįcho Agreement. The TG represents the communities of Behchokǫ̀ , Gamètì, Wekweètì, and Whatì. The North Slave Métis Alliance (NSMA) represents the rights of the Métis people of the Great Slave Lake area, primarily in the region north and east of Great Slave Lake, NWT. Nighthawk implemented an Engagement Plan detailing the Issuer commitment to consult the Tłı̨ chǫ̀ Government, the Wek’èezhìı Renewable Resource Board and the North Slave Métis Alliance and to keep them informed of the plan and future steps as the Project advances.

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Nighthawk’s Engagement Plan triggers are detailed in Table 4-2.

Table 4-2 – Nighthakw's Engagement Plan triggers

Engagement trigger Purpose(s) for Engagement Format for engagement • To communicate changes to the Land Use Permit or Water Licence Land Use Permit or Water • To explain the reason behind the • Phone conversation Licence application, amendment application or renewal • Email with stakeholder letter • To solicit comments, suggestions, or concerns regarding any change • To communicate seasonal opening or closing of the existing • Email correspondence Seasonal opening or closing of camp • Phone conversation Colomac exploration camp • To solicit comments, (upon request) suggestions, or concerns • To communicate Nighthawk's intent to begin a ground exploration program • Email correspondence Intention to commence ground • To provide an overview of the exploration program (nondrilling) scope of the ground exploration • Phone conversation (upon program request) • To solicit comments, suggestions, or concerns Results of exploration program • To inform of the results of • News release distributed via received Nighthawk's exploration activity email • To provide an update on Nighthawk's exploration activities • In person meeting at a location to Semi-annual in person update • To solicit comments, be determined at the party’s suggestions, or concerns request • To build and foster relationships • To provide information, receive • Format shall be dependent on Non-scheduled update requested comments, or hear concerns the situation

• To solicit comments, • During the semi annual in person Updates to the Closure and suggestions, or concerns on the update Reclamation Plan current ICRP or proposed • Email changes to the ICRP correspondence • To communicate Nighthawk's • Email correspondence Initiation of closure or reclamation intent to begin closure and activities • Phone conversation (upon reclamation activities request)

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5. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY

This section is mainly based on the previous NI 43-101 report on the Property prepared by CSA Global Canada Geosciences Ltd. (Trinder et al., 2018) and the Nighthawk 2019 Annual Report (Waychison, 2020).

5.1 Accessibility The Property is located approximately 220 km northwest of Yellowknife, Northwest Territories, Canada. A gravel landing strip approximately 1,500 m long on the Property is capable of landing cargo aircraft. The Property can also be accessed by air via helicopter and ski- or float- equipped fixed-wing aircraft on Baton Lake or Steeves Lake. Land access to the Property is also possible via an approximately 245 km long winter road (Robb, 1997) that starts west of Yellowknife and branches off from the No.3 Highway at the Tłı̨ chǫ̀ community of Behchokǫ̀. The winter road follows the Emile River north to Basler Lake and Matteberry Lake. From Matteberry Lake, the road goes east across country to Indin Lake, and then follows Indin Lake before heading north to the Baton Lake area. This route provides seasonal access to the NWT/Alberta/British Colombia highway systems and the railhead at Hay River. Winter road access is only possible during a limited period which is dependent on weather conditions but usually extends from the end of January to the beginning of April. In October 2018, the recommendations of the Mackenzie Valley Environmental Review Board on the environmental assessment of the proposed Tłı̨ chǫ all-season road (the “TASR project”) were adopted, allowing the project to proceed through to the regulatory and permitting phase. The TASR project is a permanent, 97-km-long, two-lane gravel highway on a former winter road alignment from Hwy 3, roughly 40 km south of Behchokǫ̀ to the community of Whatı.̀ The project is currently underway. Access roads and the TASR project are presented in Figure 5-1. Mining and drilling operations may be carried out year-round with some limitations in specific areas of the Project, however surface exploration work (mapping, channel sampling) might be planned from late May to early October. Lakes are usually frozen and suitable for drilling from February to late April. Conditions may be difficult when the snow melts in May and for a few weeks during the fall.

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From: Nighthawk, 2019. Figure 5-1 – Property location map showing regional access

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5.2 Climate The Property area has a continental subarctic climate. Winters, predominantly polar, are long and very cold, and summers are short, cold to mild. According to Environment Canada (climat.meteo.gc.ca/climate_normals), statistics for the closest city of Yellowknife during the 1981–2010 period show a daily average temperature for July of 17°C and a daily average temperature for January of -26°C. The record low was -51°C, and the record high was 32.5°C. Overall, precipitations are low for a subarctic climate with an average annual precipitation of 171 mm of rain and 158 mm of snow. There are, on average, 115 days without frost. Lakes typically are frozen from November to June. Between mid-May and early August, daylight occurs a maximum of approximately 20 hours per day. During wintertime, only about 5 or 6 hours of daylight occur at Yellowknife and less at Colomac. The Property area is at higher latitude; therefore, lower average temperatures can be expected. Climatic conditions do not seriously hinder exploration or mining activities, with only some seasonal adjustments for certain types of work (e.g., conducting mapping in summer and drilling on lakes or swampy areas in winter).

5.3 Infrastructure and Local Resources The Property area is remote. No powerlines, mobile connections or other services exist on or near the Project area. The Property is located approximately 110 km north- northeast of the Snare River hydro power complex, which produces approximately 29.3 MW from four plants. Water is readily available from the many creeks and lakes found on the Property. The city of Yellowknife, with a population of approximately 19,600, is the closest service community at a distance of 220 km from the Property. Yellowknife has a long mining history and, as a result, is well serviced by exploration and mining industries and has quality manpower. Yellowknife’s airport is the main airport in the NWT and provides several daily scheduled flights between Yellowknife and Edmonton or Calgary. The Property lies is peripheral to the Tłı̨ chǫ̀ Comprehensive Land Claim and Self- Government Agreement area, which includes several Tłı̨ chǫ̀ communities, including: • Wekweètì (population approximately 145; 50 km east-southeast of the Property); • Gamètì (population approximately 310; 114 km west-southwest of the Property). Gamètì has a community store, hotel and restaurant, a fire station and a health centre; • Whatì (population approximately 500; 176 km south west of the Property); • Behchokǫ̀ (population approximately 1,950; 181 km south-southwest of the Property). Services in the community include a grocery store, bed and breakfast, and a convenience store. These communities have experienced workers who are currently employed on rotation schedules at the diamond mines.

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The following infrastructure has been constructed since the acquisition in 2012. The Project’s main facility, the Colomac camp (Figure 5-2), is located on the east shore of Steeves Lake, approximately 2 km north of the Colomac airstrip. The Colomac Camp consists of 15 sleeper insulated Weatherhaven tents complete with Toyo diesel stoves. Similar-sized Weatherhaven tents are also employed as equipment drying areas (two), a kitchen and a dining room. Several insulated hard-shell buildings are used for storage, offices, a lavatory, core logging and a core cutting room. The camp is equipped with a pump house, an incinerator, a garbage facility, a 35 Kw diesel generator (when the camp is occupied) and a portable gas-operated 15 Kw generator which provides power for the rock saws and serves as an emergency backup system for the camp. The pump shack building contains four 3400 L water tanks, two separate filtration units and a UV water treatment system as well as two propane fired hot water tanks.

Figure 5-2 – Colomac camp

The historical Colomac mine site has been rehabilitated by INAC including the removal of all mining and milling facilities. Nighthawk also maintains the Damoti Horseshoe Camp, which is located 28 km south of the historical Colomac mine site. The camp contains several sleep tents, two hard shell sleeping buildings, hard shell washroom facilities, a generator building, a large insulated

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plywood core logging shack, a plywood core cutting shack and three double-walled environmental protection tanks, having a capacity of 75,000 L of fuel each.

5.4 Physiography The average altitude of the Property is approximately 340 masl. Some hills reach 430 masl in the northern part where there is more topographic relief and consequently more outcrops. Minimum elevation is approximately 255 masl at lake levels. Numerous lakes present on the Property drain south to the Snare River. The Property is located below the tree line and is covered by taiga vegetation mainly composed of conifers, lichens, mosses and some deciduous trees including birch. The Property lies within the boundary of continuous permafrost (Jeness, 1949). Permafrost does not present operational problems based on historical drilling and operations at the Colomac mine (Robb, 1997). Figure 5-3 presents an aerial view of the Property physiography.

Figure 5-3 – Property physiography

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6. HISTORY

This section summarizes the historical work conducted on the Property, which was presented in the previous technical report entitled “NI 43-101 Technical Report on the Indin Lake Property – Colomac Project, Indin Belt, Northwest Territories, Canada”, prepared by CSA Global Canada Geosciences Ltd (“CSA Global”) (Trinder et al., 2018). A brief overview of the historical exploration on the Property as a whole is presented in section 6.1. The exploration and production histories of the Colomac and Damoti projects—the main focus of this Technical Report—are described in detail in sections 6.2, 6.3 and 6.4.

6.1 Indin Lake Property – Regional Exploration Since the 1938 discovery of the Anna (Barker Vein) gold showing on the south shore of Indin Lake (Morgan, 1992), a total of 131 gold occurrences have been identified on the Property (Figure 6-1, Appendix II). These occurrences are documented in the Northern Mineral Showings (“NORMIN”) Database, NWT Geoscience Office.

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From: Nighthawk, 2020. Figure 6-1 – Map of historical work and gold occurrences on the Indin Lake Property

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Mineral exploration on the Property area can be synthetized into five major periods: • Late 1930s to late 1940s: Initial exploration. Discovery of Diversified, North Inca, Lex Main, Treasure Island Main, and Colomac/Goldcrest mineralization. Several trenches in the Barker Vein were excavated from 1939 to 1941 by the Territories Exploration Company Ltd, and 700 kg of ore containing 2 kg of gold were extracted. Further exploration via 15 drill holes in 1945 and 1946 failed to define other ore-bearing portions of the vein. (Puritch, 2005) • 1970s: Regional exploration focused on volcanogenic base metal massive sulphides. • Mid to late 1980s: Regional gold-focused exploration. Discovery of the Cass deposit and development of the Colomac mine, which operated from 1989 to 1991 and from 1994 to 1997 (see section 6.2). • 1990s: Discovery of several gold-bearing banded iron-formation (“BIF”) showings in the Damoti Lake area. In 1996-1997, a ramp and two (2) levels were developed, and underground drilling was performed, in addition to sampling, including a bulk sample from the Horseshoe Zone (see section 6.4). • 2009-2010: Merc (now Nighthawk) conducted a ground geophysical program and exploration drilling in the Damoti Lake area (see section 6.4). • 2012-2018: Nighthawk conducted exploration on the Colomac Project and regional exploration elsewhere on the Property, including regional airborne geophysics, more detailed ground geophysics, prospecting, geological mapping and sampling at Leta Arm, Damoti Lake and Treasure Island.

6.2 Colomac Project – Exploration and Development Since the initial gold discoveries in the Indin Lake area in 1938 by prospectors of the Territories Exploration Company, various mining companies have worked on the Colomac Project. The exploration history can be grouped into the following periods: • 1938–1947: Initial gold discoveries and early exploration work (including historical drilling and trench sampling) by Leta Explorations, Goldcrest Mines, Colomac Yellowknife Mines, Indian Lake Gold Mines, Indyke Gold Mines, Nareco Gold Mines and the Central Mining Services of Toronto; • 1974–1986: Early and advanced exploration work (geochemical survey, drilling, metallurgical tests, etc.) by Cominco Ltd, Newmont Mining Corporation and Wollex Exploration. • 1986–1999: Exploration and production by Neptune Resources Corp. and Royal Oak Mines Inc.; • 2000–2011: Remediation of the Colomac mine site by INAC (previously DIAND). • 2012–2018: Advanced exploration by Nighthawk. Table 6-1 summarizes the ownership changes and the historical work carried out on the Colomac Project from 1945 to 2018. The 2019 drilling program is described in Item 10.

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Table 6-1 – Historical ownership changes and historical work on the Colomac Project from 1945 to 2018

Year Company Work Results Gold showing discovery in the Baton Lake area north Leta Explorations Field exploration of Indin Lake (Davison and Tyler, 1988) Goldcrest Mines Colomac Yellowknife Mines 5 companies staked claim Indian Lake Gold Mines blocks within the current Indyke Gold Mines Colomac Project area Nareco Gold Mines Drilling of 5 DDH (580 m) into a shear zone on the One hole returning Goldcrest Property (East 0.285 oz/t Au over 0.6 m Zone). 1945 Drilling of 11 DDH Delineation of three gold (1,500 m) along the zones (A, B and C) Goldcrest Sill (East Zone) Discovery of a gold Field exploration on the mineralized shear in an Goldcrest Mines northwest side of the dyke altered rhyolite tuff/sericite (West Zone) schist 4 bulk samples, 5 ft each, 7 rock trenches opened assayed 0.07, 0.06, 0.10 and 0.08 oz/t Au GC-l0 returned 0.42 oz/t Au 9 DDH drilled across the in a 2.7-m sludge assay West Zone drilled through a quartz vein in a sericite schist Acquisition of 20 claims along the northeast Indian Lake Gold Mines boundary of the Goldcrest Property Acquisition of 20 claims along the southeast Indyke Gold Mines boundary of the Goldcrest Property Acquisition of 24 claims Colomac Yellowknife Mines north of the Indian Lake’s Winter of property 1945–1947 Acquisition of claims in the Nareco Mines north and south extensions of Colomac Sill Drilling of 136 DDH Exploration and definition of (12,600 m) along and 3 gold zones Central Mining Services of adjacent to the Colomac Sill 1 Toronto Extensive geological mapping of the Baton Lake

area during the summer of 1946

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Year Company Work Results Metallurgical investigations University of Alberta during the winter of 1946- 1947 Acquisition of properties from Colomac Yellowknife Hydra Explorations Limited Mines and Indian Lake Mines 1959 Nareco Gold Mines Indyke Gold Mines Properties allowed to lapse Hearne Gold Mines Dyke Lake Gold Mines Colomac-Yellowknife and Indian Lake properties optioned from Hydra Study of controls on gold Explorations under a 5-year mineralization within quartz agreement. 24 adjoining veins along the Colomac 1968 Discovery Mines claims staked (parts of old and Goldcrest sills, and Goldcrest and northern mapping of their northern Nareco properties) to limits expand the coverage of the Colomac and Goldcrest sills Hydra Explorations and Discovery Mines amalgamate their claims into one group of 68 claims; the. Property was 1971 Johnsby Mines subsequently transferred to Johnsby Mines, a private company owned jointly by Hydra Explorations and Discovery Mines Acquisition of 3 additional claims (part of the former Indyke Property), 1972 Discovery Mines completing the coverage of the Colomac and Goldcrest sills Colomac Property optioned Drilling of 20 DDH (2880 m) Cominco re-assesses ore over a distance of 360 m reserve figures quoted in along the Colomac Sill 1946 and 1968 Geochemical survey to test for possible geochemical No markers identified 1974 Cominco Ltd markers associated with gold mineralization Core sampling and trenching of a 2,000 lb Metallurgical testing, heap sample of ore-bearing sill leaching, flotation and rock, 15 m west of DDH 74- grindability tests 2 1980 Newmont Sampling Metallurgical testing 1985-1987 Wollex Exploration Prospecting programs on Discovery of 2 areas of

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Year Company Work Results the ED-1 claim near the mineralization: main Wollex Indin River showing and a zone farther north that may be part of Zone 24 (Dickson, 1985 and 1988) Reconnaissance mapping and prospecting programs on the BAT-1 claims Some weakly anomalous 1986 Noranda Exploration Limited gold values (Powerset Litho-geochemical sampling al.,1986) and resampling of some existing trenches Widely spaced prospecting No significant results Echo Bay Mines Ltd traverses on the SPAN-l (MacMahon and Sarjeant, claim 1987) 1987 DIGHEM III airborne VLF- Triple Crown Resources EM survey and a magnetic

Corp. survey over both the AGE2 and FRE2 claims Colomac and Goldcrest properties optioned from

Johnsby Mines in the fall of 1986 1986-1987 Ore reserve statement and Extensive diamond drilling, mining economic feasibility geological mapping, study for the Colomac Zone surveying, airborne 2.0 orebody (Davison and geophysics and topography Tyler, 1988)

Neptune Resources Corp. Drilling of approximately 705 DDH (60,200 m), on the Colomac Sill 1987-1991 Some drilling also completed on the Goldcrest, Goldcrest North, Grizzly Bear, 24/27 and other targets on the Property Results discussed in Colomac mine production 1991-1992 section 6.3 of this Technical (Zone 2.0 orebody) Report Acquisition of Colomac assets for $7.875M in Royal Oak shares and the GPR on the Colomac Property in exchange of $4.0M in Royal Oak shares Royal Oak holds a 100% 1993-1997 Royal Oak Mines Inc. interest in the leases (Royal Oak, 1999) Acquisition of Kim and Cath Increased land position 1 Claims around the Colomac Mill site (Robb, 1997) Filed exploration focused on Definition of mineable delineating and defining reserves (non-NI 43-101

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Year Company Work Results resources (line cutting, compliant) on zones 2.5 geological mapping, and 3.0 surveying, ground and airborne geophysics, and topographic surveying) Engineering and environmental work for permitting and mine design Drilling of 265 DDH (26,700m) on zones 1 to 5 of the Colomac Sill and at the Goldcrest, Goldcrest North, Grizzly Bear, 24/27 and other targets on the Property Results discussed in Colomac mine production section 6.3 of this Technical Report Transfer of all Royal Oak’s rights, titles and interests to 2000 DIAND by court order from the Ontario Superior Court INAC (previously DIAND) of Justice Results discussed in Restoration of the Colomac 2005-2011 section 4.5 of this Technical mine site Report Acquisition of the Indin Lake

2012 Property IP survey Discovery of the high-grade Drilling of 175 DDH Zone 1.5. 2012-2017 (55,835 m) Increase in inferred mineral resources Approximately 40% of grab samples contain gold Nighthawk (previously Merc) Prospecting and geological greater than detection limit, mapping at Nice Lake Sill (a including a sample of 2016-2017 quartz diorite similar to the 2.61 g/t Au Colomac and Goldcrest sills) Discovery of additional sills, expanding the length of the corridor to over 10 km Definition of drill targets on IP/Resistivity and Mag complexities or breaks in 2017 surveys the Colomac Sill (strong magnetic trend) 1 The properties of Indyke Gold Mines (20 claims), Indian Lake Gold Mines (20 claims; GI 1 to G 16 and GI 25 to G 28), Colomac Yellowknife Mines (24 claims; IF 1 to IF 12 and DID 1 to DID 12) and Nareco Gold Mines, situated along the length of the Colomac Sill, and the eastern peripheral properties of Hearne Gold Mines and Dyke Lake Gold Mines, were jointly developed (a total of 141 claims) under the direction and management of Central Mining Services of Toronto from the winter of 1945 into 1947.

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6.3 Colomac Mine – History and Production Neptune Resources Corp. (“Neptune”) brought the Colomac mine to production in 1990 following a positive feasibility by Wright Engineers. The Colomac Zone 2.0 deposit was mined as a conventional open pit of approximately 980 m by 270 m at surface. The milling circuit was a conventional whole ore cyanide leach with a carbon in pulp (“CIP”) gold recovery circuit (Royal Oak, 1993). The cut-off grade used was 0.03 oz/t, and 15% tonnage dilution factor was applied to arrive at the mill feed grade. Mine production averaged 30,700 tpd peaking at 35,000 tpd in September and October 1990, which was far below the 45,000 tpd needed in order to meet the mill’s designed capacity of 10,000 tpd (Royal Oak, 1993). During its 8-month pre-production phase (September 1989 to April 1990) and 13 months of operation (May 1990 to June 1991), the Zone 2.0 pit produced 3,214,000 t of ore for total of 146,400 oz of gold at an average mill head of 0.057 oz/t and 92% recovery (Royal Oak, 1993; Johnson, 1994). Neptune experienced cash flow difficulties in 1990 due to unanticipated production difficulties, low ounce production and low gold prices, and the mine ceased operation on June 29, 1991 (Royal Oak, 1993). In April 1993, Royal Oak purchased the Colomac assets from Neptune and acquired the gross production royalty (“GPR”) on the Colomac Project. Stripping operations at the Colomac mine were recommenced by Royal Oak in March 1994. Royal Oak utilized conventional open pit mining techniques similar to those used by Neptune. The Neptune mill circuit was modified in 1996 to include a pebble crusher bypass to overcome operating difficulties and facilitate the processing of 10,000 tpd of ore (Royal Oak, 1999). In September 1997, Royal Oak discontinued mining operations at the Colomac mine because of low gold prices and the depletion of economic open pit ore reserves. The Colomac mine was closed in December 1997. During its operation from 1994 to December 1997, the Colomac mine (zones 2.0, 2.5 and 3.0) produced 9,629,716 t of ore for a total of 389,308 oz of recovered gold at an average mill head of 0.046 oz/t and 88.1% recovery (Randall, 1997). In 1998, the open pit mine was cleared of all man-made material, the power plant was sold, and a number of pumps and ancillary equipment from the mill were moved to Royal Oak’s Kemess South mine (Royal Oak, 1999). DIAND (now INAC) became the owner of the Colomac assets on January 12, 2000 and remediated the mine site from 2005 to 2011. Environmental monitoring will continue at the site until it can be determined that remediation has been effective and that site conditions have reached a steady state.

6.4 Damoti Project – Exploration and Development In 1992, Canadian government geological team led by John A. Brophy discovered a new gold showing from sulfidic banded iron formation (“BIF”) samples collected on BIF Island, in the northern part of Damoti Lake as part of an NWT Mineral Initiatives Program. This subsequently led to staking of lands in the Damoti area, and a series of exploration and drilling programs over the following years that resulted in the discovery of several other gold BIF showings. Historical ownership of the Damoti Lake Property is presented in Table 6-2.

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Table 6-2 – Historical ownership of the Damoti Property

Company Year Relationship Covello Bryan and Associates 1993 JV with Athabaska (operator) Athabaska Gold Resources Ltd. 1993 JV with Athabaska (operator) Gitennes Exploration Inc. 1993 JV with Athabaska (operator) Consolidated Ramrod Gold Corporation 1993 JV with Athabaska (operator) Consolidated Ramrod Gold Corporation 1994 JV with Ramrod (operator) Consolidated Ramrod Gold Corporation 1995 Sole owner Quest International Resources Ramrod changes name to Quest 1996 Corporation International Resources Corporation Quest International changes name to Standard Mining Corporation 1999 Standard Mining Corp. Acquired Standard Mining and 100% of Doublestar Resources Ltd 2001 Damoti Property Canadian Zinc 2002 Option agreement with Doublestar Doublestar Resources Ltd 2003 Option agreement expired Agreement with Doublestar to acquire 55% Anaconda Gold Corporation 2003 of Damoti Purchases an increased interest in Damoti Anaconda Gold Corporation 2006 from Doublestar (i.e. 80 to 100% depending upon mining lease) Purchases Damoti minority interest from Selkirk Metals Corp 2007 Doublestar Purchases Damoti majority interest from Merc International Minerals 2008 Anaconda (i.e., 80 to 100% depending upon mining lease) Purchases Selkirk Metals Corp and Imperial Metals Corporation 2009 acquires Damoti minority interest

Surface exploration conducted between 1992 and 1997 can be summarized as a total of 323 surface DDH (40,810 m), ground and airborne geophysics and 5,000 rock samples collected. In 1996 and 1997 underground development was performed on the Horseshoe Zone at Damoti Lake by Quest International Management Services under the supervision of E.H. van Hees. A ramp of approximately 430 m was driven, and two levels were opened: 120 m on the 25 m level and 30 m on the 40 m level. Underground drilling, sampling and bulk sampling was performed from these workings. Thirty-five (35) underground holes were drilled for 792 m. During 2004 and 2005, Anaconda Gold Corp. (“Anaconda”) drilled 52 DDH totalling 4,191 m. In 2005, Anaconda mandated P&E Mining Consultants Inc. to prepare an independent NI 43-101 compliant mineral resource estimate (“MRE”) on the Damoti Lake Property. Using a cut-off grade of 8.00 g/t Au, the measured and indicated resources for the deposit totalled 40,600 t grading 26.17 g/t Au, with a further inferred resource of 17,800 t grading 16.38 g/t Au (Puritch and Ewert, 2005).

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In 2009 and 2010 Nighthawk drilled a total of 13,647 m to explore for new zones throughout the Damoti Lake area. The details of those campaigns are presented in Table 6-3.

Table 6-3 – Summary of Nighthawk’s 2009 and 2010 exploration drilling program

Number of Period Location Work Completed Metres Holes D04-376 to 389 and D09- July-Aug 2009 Horseshoe syncline 19 3,580 393 Red Mountain Aug-Sept 2009 D09-390 to 392C 8 89 syncline 2009 Totals D09-376 to 393 27 5,670 March-April D10-394 to 404 and D10- BIF Island area 19 3,153 2010 424 April 2010 Granite showing D10-410 to 413 3 362 Red Mountain April-May 2010 (Lookout and D10-416 to 423 15 3,228 Causeway showings) May-June 2010 Horseshoe North D10-427 3 834 May-June 2010 Runway & Lardass D10-430 2 400 2010 Totals D10-394 to 430 42 7,977

Between January and early March 2010, Nighthawk conducted a ground geophysical program on the Damoti Project. Work consisted of detailed ground magnetic, EM, and local IP surveys focused on gold mineralized zones previously drilled by Nighthawk in order to determine their physical responses and characteristics and create a geophysical “footprint” of the known mineralized areas. Subsequent work was then broadened to identify potential drill targets with similar geophysical “footprints” throughout the Project.

6.5 Significant Historical Mineral Resource and Reserve Estimates This section covers mineral reserve estimates prepared in accordance with NI 43-101 requirements. Previous work not in compliance with those standards are not discussed.

6.5.1 2012 ACA Howe Mineral Resource Estimate In 2012, Nighthawk retained ACA Howe to produce an MRE for the Colomac Project (the “2012 MRE”) (Lee and Trinder, 2012). ACA Howe outlined a series of north-trending, steeply dipping mineralized zones including three (3) contiguous zones hosted by the Colomac Dyke (North, Central and South) and five (5) other zones: Goldcrest North (Dyke Lake), Goldcrest, Grizzly Bear, 24 and 27. The 2012 MRE totalled 42.65 Mt with an average gold grade of 1.05 g/t Au, for 1,446,000 oz of inferred Resources using a cut-off grade of 0.6 g/t Au. Detailed results are presented in Table 6-4.

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Table 6-4 – ACA Howe’s 2012 inferred mineral resources by zone

Grade Ounces Zone Tonnes (g/t Au) (oz Au) Colomac Dyke North 8,127,000 0.95 248,000 Colomac Dyke Central 21,896,000 1.10 771,000 Colomac Dyke South 8,830,000 1.01 287,000 Goldcrest Dyke North 998,000 1.03 33,000 Goldcrest Dyke 1,075,000 1.32 46,000 Grizzly Bear 807,000 1.04 27,000 27 528,000 1.21 20,000 24 390,000 0.96 12,000 Total 42,650,000 1.05 1,446,000 (Lee and Trinder, 2012) These “Resources” are historical in nature and should not be relied upon. Although they comply with current NI 43-101 requirements and follow CIM Definition Standards, they are included in this section for illustrative purposes only and should not be disclosed out of context.

6.5.2 Estimate In 2013, Nighthawk retained ACA Howe to update the 2012 independent resource estimate for the historical Colomac, Goldcrest and Dyke Lake (Goldcrest North) zones (Trinder, 2013). ACA Howe’s 2012 MRE of the Grizzly Bear, 24 and 27 zones were presented in the report but remained unchanged. The update incorporated drill data from 20 historical Royal Oak holes drilled in 1997 on Zone 3.5, and thirty (30) new 2012 Nighthawk diamond drill holes. The resource model outlined a series of north-trending, steeply dipping mineralized zones, including three contiguous zones hosted by the Colomac Dyke (North, Central and South zones) and two hosted by the Goldcrest Dyke (Goldcrest North and Goldcrest South). Total inferred resources were estimated to be 38.09 Mt at 1.67 g/t Au for 2,042,000 oz Au at a cut-off grade of 0.6 g/t Au. Detailed results are presented in Table 6-5.

Table 6-5 – ACA Howe’s 2013 inferred mineral resources by zone

Grade Ounces Zone Tonnes (g/t Au) (oz Au) Colomac North 6,963,000 1.24 276,900 Colomac Central 19,170,000 1.63 1,002,000 Colomac South 10,840,000 1.96 684,500 Goldcrest North 678,500 2.23 48,650 Goldcrest South 434,900 2.14 29,880 Colomac and Goldcrest Subtotal 38,090,000 1.67 2,042,000 Grizzly Bear (not updated, no change) 807,000 1.04 27,000

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Grade Ounces Zone Tonnes (g/t Au) (oz Au) 27 (not updated, no change) 528,000 1.21 20,000 24 (not updated, no change) 390,000 0.96 12,000 Grizzly Bear, 24 and 27 Subtotal 1,725,000 1.06 59,000 Total 39,815,000 1.64 2,101,000 (Trinder, 2013) These “Resources” are historical in nature and should not be relied upon. Although they comply with current NI 43-101 requirements and follow CIM Definition Standards, they are included in this section for illustrative purposes only and should not be disclosed out of context.

6.5.3 2018 CSA Mineral Resource Estimate In 2018, Nighthawk retained CSA Global to update the Indin Lake Property resource estimate (the “2018 MRE”) (Trinder et al. 2018). The 2018 MRE was prepared by using 1,088 DDH totalling 141,013 m (913 historical holes (85,178 m), and 175 DDH (55,835 m) drilled by Nighthawk between 2012 and 2017). Since the 2013 MRE, Nighthawk has drilled 145 holes for 44,600 m. Colomac Zone 1.5 was discovered in 2014, and 14,660 m of drilling since then has led to the delineation of 5,347,000 t at an average grade of 1.85 g/t Au for 317,000 oz of gold. The updated 2018 MRE presented in Table 6-6 amounts to 50.305 Mt of inferred resources at an average grade of 1.62 g/t Au for 2.613 Moz Au.

Table 6-6 – CSA Global’s 2018 inferred mineral resources by zone

Grade Ounces Zone Tonnes (g/t Au) (oz Au) Colomac North 11,522,000 1.63 604,000 Colomac Central 18,744,000 1.65 997,000 Colomac South 14,533,000 1.65 770,000 Goldcrest North 1,145,000 1.30 48,000 Goldcrest Main (formerly 2,636,000 1.60 136,000 Goldcrest South) Colomac and Goldcrest 48,580,000 1.64 2,554,000 Subtotal Grizzly Bear (not 807,000 1.04 27,000 updated, no change) 27 (not updated, no 528,000 1.21 20,000 change) 24 (not updated, no 390,000 0.96 12,000 change) Grizzly Bear, 24 and 27 1,725,000 1.06 59,000 Subtotal Total 50,305,000 1.62 2,613,000 (Trinder et al. 2018) These “Resources” are historical in nature and should not be relied upon. Although they comply with current NI 43-101 requirements and follow CIM Definition Standards, they are included in this section for illustrative purposes only and should not be disclosed out of context.

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7. GEOLOGICAL SETTING AND MINERALIZATION

The information in this item was mainly based on the 2018 NI 43-101 report by CSA Global Canada Geosciences Ltd (Trinder et al. 2018).

7.1 Regional Geology and Mineralization

7.1.1 Indin Lake Property Geology The Indin Lake Property lies within the Indin Lake Supracrustal Belt (ILSB), a 300-km- long (2,000-km2) north-northeast trending elongate area of Archean volcanic and sedimentary rocks belonging to the Yellowknife Supergroup (Frith, 1986; Figure 7-1, Figure 7-2). The belt lies in the southwestern part of the Slave Structural Province, 30 km east of the boundary with the Bear Province (Morgan, 1992). For the purposes of this Technical Report, all supracrustal rock terms, whether prefixed or not by “meta”, denote metamorphosed rocks. The ILSB is bounded to the west by Archean granitoid plutons and migmatites of the Slave Structural Province and Paleoproterozoic rocks of the Wopmay Orogen. To the east, the ILSB is flanked by plutonic and high-grade gneissic rocks, including those of the Cotterill Complex (Pehrsson and Villeneuve, 1999). The granites are, in large part, intrusive into the supracrustal rocks (Frith, 1986). The eastern gneissic complexes were previously thought to be basement rocks to the belt given their similarity to Pre- Yellowknife Supergroup basement gneisses known from or inferred to underlie the Acasta, Grenville Lake, and Winter Lake areas to the north-northwest, north and east respectively; however, the gneissic Cotterill Complex is dominated by magmatic phases broadly coeval with Yellowknife Supergroup volcanism (Pehrsson and Villeneuve, 1999). Supracrustal rocks of the ILSB have been subdivided into three lithostratigraphic groups – the Hewitt Lake, Leta Arm, and Chalco Lake groups – on the basis of their composition, volcanic facies and distribution of units (Pehrsson and Villeneuve, 1999) (Figure 7-1, Figure 7-2). The Hewitt Lake Group is a homogeneous sequence of laterally continuous submarine mafic flows and synvolcanic gabbro sills, with minor calc-alkaline felsic volcanic and epiclastic rocks interbedded with the mafic flows and as a 750-m-thick, 50- km-long unit above them at Hewitt Lake (Figure 7-2). The mafic volcanic rocks are intruded by quartz-feldspar porphyry (“QFP”) dykes and hypabyssal sills that are interpreted as feeders to the upper felsic unit (Pehrsson and Villeneuve, 1999). The Hewitt Lake Group is characterized by extensive carbonate alteration, and it hosts the Cass, Kim and Snowden gold deposits (Morgan, 1990), which lie outside Nighthawk’s Indin Lake Property area. The Hewitt Lake Group is conformably overlain by the Leta Arm Group, a heterogeneous sequence of submarine to subaerial, tholeiitic and calc-alkaline, mafic through felsic volcanic rocks, and gabbro to quartz diorite synvolcanic intrusions (Pehrsson and Villeneuve, 1999; Figure 7-2). It has a greater proportion of intermediate to felsic volcanic and volcaniclastic rocks than the Hewitt Lake Group, and it hosts numerous gold deposits including the Colomac deposits, as well as polymetallic and base metal prospects (Pehrsson and Villeneuve, 1999).

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From Trinder et al., 2018, adapted from Pehrsson and Kerswill, 1997. Figure 7-1 – Regional geology of the Indin Lake Property

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The Leta Arm Group is unconformably overlain by the Chalco Lake Group, a submarine turbidite sequence of graded greywacke-mudstones, with lesser iron formations, conglomerates and felsic volcanogenic rocks. Chalco Lake Group rock units make up for the larger portion of the ILSB (Figure 7-2) (Pehrsson and Villeneuve, 1999). The Chalco Lake Group is subdivided into the Parker and Damoti formations, respectively underlying the central and marginal areas of the ILSB (Figure 7-2) The Parker Formation consists of thickly bedded, silty to sandy turbidites with associated volcanogenic conglomerate, felsic volcanic flows and breccias, hypabyssal intrusions, and rare peperites. Polymictic volcanogenic conglomerate occurs locally at the contact with the underlying Leta Arm Group (Pehrsson and Villeneuve, 1999). The Damoti Formation is interpreted to onlap the Parker Formation and consists of thinly bedded, pelite-dominated turbidites with associated iron formations and sulphidic-graphitic argillites. These iron formation units, including mixed silicate-oxide and rare sulphide facies, host the Horseshoe Zone and Fishhook Lakegold prospects, as well as numerous other smaller gold occurrences (Pehrsson and Villeneuve, 1999).

From Trinder et al., 2018. Figure 7-2 – Pehrsson and Villeneuve’s (1999) revised schematic lithostratigraphic section for the Indin Lake area

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Several Archean plutonic bodies intrude the volcanic-sedimentary rocks. Diabase dykes of the Paleoproterozoic (2150 Ma) Indin Lake dyke swarm are numerous and cut all units throughout the Indin Lake area (Pehrsson and Villeneuve, 1999). The dykes are predominantly NW to NNW trending; a conjugate set trends NE. N-trending dykes of the younger Mesoproterozoic (1270 Ma) Mackenzie dyke swarm are present in small numbers, generally distinguished from those of the Indin Lake swarm by their prominent aeromagnetic signature and “fresh” appearance (Pehrsson, 2002), although less altered Indin Lake dykes may be difficult to distinguish from the Mackenzie dykes (Pehrsson, 2002; Frith, 1986). The ILSB has been metamorphosed to lower greenschist facies with local amphibolitic facies. The ILSB has undergone complex, polyphase deformation, involving three Archean (D1– D3) and two Proterozoic (D4–D5) deformation stages (Pehrsson and Villeneuve, 1999; Figure 7-3). The Archean D1 and D2 stages affect all units of the Yellowknife Supergroup. The D1 stage is contemporaneous with early greenschist-facies regional metamorphism and resulted in rare bedding-subparallel slaty cleavage, foliations, dip-slip faults, and moderately to steeply doubly plunging, isoclinal folds of bedding. These structures are interpreted to have formed in an originally east-northeast trending fold-fault belt. D2 structures, broadly coeval with regional low-pressure–high-temperature metamorphism, include cleavage, upright open to isoclinal folds of bedding and S1, and faults (Pehrsson and Villeneuve, 1999). The steeply west-dipping oblique-normal, brittle-ductile Daran Lake fault system is interpreted to be an Archean D3 structure juxtaposing the relatively higher-grade gneissic Cotterill Complex to the east with the lower grade ILSB. The Daran Lake fault system is a major regional geological structure and its geometry and style of deformation indicates it is likely related to the larger scale West Bay–Indin Lake fault system that hosts significant gold mineralization 200km to the south (Miller and Stanley, 2013). D4 and D5 events are Paleoproterozoic in age and associated with the Wopmay orogeny. D4 deformation is characterized by northwest-trending sinistral strike-slip faults, open cross-folds, kink bands and local cleavage, and D5 deformation is characterized by minor reverse faults, kink bands and cleavage (Pehrsson and Villeneuve, 1999).

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From Pehrsson and Villeneuve, 1999. Figure 7-3 – Summary of geological events in the Indin Lake area

7.1.2 Mineralization of the Indin Lake Property Since exploration began in the late 1930s, approximately 130 gold occurrences have been identified within the Property area, as documented in the Northern Mineral Showings (NORMIN) Database of the NWT Geoscience Office (Figure 5, Appendix 2). Approximately 20 of these occurrences are considered significant gold deposits and showings (Table 7-1; Figure 7-4).

The geology and mineralization of the Colomac and Damoti projects are presented separately in the following sections.

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Table 7-1 – List of significant gold deposits and showings on the Indin Lake Property (updated from Trinder et al., 2018) Deposit/Showing Style of Mineralization

1 Colomac Auriferous stacked quartz veins/stockworks/silicified 2 Goldcrest zones hosted by intermediate intrusive 3 Goldcrest North/Dyke Lake 4 Grizzly Bear 5 Laurie Lake Auriferous stacked silicified zones, often spatially 6 Treasure Island associated with felsic units. Chalco Zone - West Shore and Face 7 Peninsula showings 8 24/27 Zones 9 Chalco Zone - Northeast showing 10 Chalco Zone - North End showing 11 North Inca mine Auriferous quartz veins or silicified zones in mafic volcanics, often within or near graphitic argillites and 12 Diversified mine fault/shear zones along contacts of mafic volcanic- 13 #3 Zone sedimentary belts 14 Lexindin Zone 15 Barker-Vidie 16 Echo-Indin 17 Goose Lake Gold associated with sulphides (arsenopyrite and loellingite) and quartz-carbonate veins or silicified zones 18 Lucky Lake within mafic volcanic units or intrusive equivalents. 19 Albatross showings Possible extensions of the Kim and Cass zones. 20 Fishhook 21 Damoti Lake BIF-hosted gold 22 BIF Island 23 JPK 24 Andy Lake Intrusion related gold system

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From Lee and Trinder 2012, after Morgan 1992. Colomac Project outlined in red. Figure 7-4 – Significant gold deposits and showings on the Indin Lake Property

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7.2 Colomac Project

7.2.1 Colomac Project Geology The Colomac Project (the “Project” in this section) is underlain by a 4-km-thick belt of lower greenschist-grade intercalated mafic-intermediate flows, intermediate-felsic volcanics and intermediate intrusives, bounded by metasediments to the east and west (Figure 7-5). The volcanic-sedimentary contact to the west, along Steeves Lake, is not well exposed. Sediments observed in outcrop are slaty argillites and do not appear particularly deformed. However, the contact to the east in the Indin River area shows the more classic Archean contact with evidence of strong and repeated folding and faulting along with accompanying hydrothermal alteration. Sediments vary from graphitic argillites and siltstones to arkoses and sandstones (Cohoon et al.,1991a and b). A multiphase, synvolcanic intrusive complex (about 2 km x10 km in area) intrudes the volcanics on the west side of Baton Lake, within 800 m of the western volcanic- sedimentary contact. The host strata and synvolcanic intrusive complex is strongly deformed, and mafic units have a steeply-dipping foliation and a steeply-plunging lineation. The sill complex strikes north-northeast and dips steeply east subparallel to the host strata. It consists of a series of multiphase, medium-grained diorite to quartz- diorite (small blue quartz phenocrysts; up to 15% magnetite) and gabbroic sills, with about 15% of the complex occupied by elongate, andesitic enclaves (tens or hundreds of metres in size) (NWT Geoscience Office, 2012a). The Colomac Sill (2671 ±10 Ma; Morgan, 1992), which hosts the Colomac deposits, occurs near the east side of the intrusive sill complex in contact with, or near, andesitic volcanics. The NWT showing report describes the Colomac Sill as being composed mainly of a medium-grained quartz-albite porphyry (dioritic to trondhjemitic), with some chlorite, biotite, epidote, carbonate, amphibole, magnetite, up to 2% pyrite, and pyrrhotite (NWT Geoscience Office, 2012a). Historical drill logs describe the Colomac intrusion as multiphase, having a QFP component enclosed by a quartz diorite and or diorite/gabbro phase. Detailed historical surface outcrop mapping shows an unrestricted distribution of the rock types. Historically, the Colomac Sill was often referred to as a dyke because of its steeply-dipping orientation, however most workers now accept that the Colomac intrusion is a subvolcanic sill that was intruded in a horizontal position and later rotated or folded together with the surrounding intrusive and volcanic rocks into its present, steeply- dipping orientation (Stanton et al.,1954; Helmstaedt, 1990; Morgan, 1992). Morgan (1992) considered the Colomac Sill a separate intrusion from the quartz-dioritic Goldcrest dyke. Nighthawk drill-core logging has identified quartz diorite and diorite as the main intrusive units with QFP and gabbro rarely identified. To provide some clarification, Nighthawk completed detailed sampling and XRF and ICP lithogeochemical analysis of several holes from the 2012 and 2014 drill programs to better understand the intrusion, gold distribution, and possible alteration. Samples taken throughout the Colomac Sill show highly constrained trace element profile slopes throughout the transition from top to base of the sill, with abrupt breaks across major lithological contacts. Nighthawk interprets that the trace element distributions are best explained by a fractionation process that gave rise to a differentiated sill of intermediate to mafic composition (tonalite–trondhjemite) with a fine to medium grained felsic to intermediate upper portion and a medium to coarse

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grained mafic base. The sill has been rotated post-emplacement and is steeply dipping and topping to the east.

(Trinder et al., 2018; adapted from Pehrsson and Kerswill, 1997). Figure 7-5 – Colomac Project geology map showing gold deposits and occurrences

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Where tested along its strike, the Colomac Sill ranges from 40 m to 200 m wide (averaging 100m). The quartz diorite (historical QFP) portion of the Colomac Sill ranges from 9 m to 60 m wide (averaging 30m). The sill has a drill tested strike length of about 6.7 km. It does not have a strong tectonic fabric. The attitude of the sill is 010°/80° in the north and 023°/80° in the south. The deformation in the sill is brittle, producing fracture stockworks and auriferous quartz-vein zones that are highly altered and carbonatized. Otherwise, the sill shows only slight tectonic fabrics, in contrast to the less competent surrounding country rocks. Overall, alteration zoning in the sill consists of potassic altered cores, accompanied by weak silicification and massive clots of hematite- magnetite in quartz, enveloped by chloritization and epidotization (NWT Geoscience Office, 2012a). Goldcrest Mines Ltd located three showings in 1945 on the former AE claims: the Goldcrest Dyke, the Goldcrest North (or Dyke Lake Zone), and the Goldcrest East Zone (NWT Geoscience Office, 2012b). The showings consist of felsic porphyries intruded by tensional quartz veins, within a large, multiphase, synvolcanic sill/dyke complex that ranges in composition from diorite to quartz-diorite, with gabbroic sills and large andesitic enclaves. The complex is situated near the base of a sequence of greenschist-grade andesitic flows (pillows) and intermediate-felsic volcanics. Morgan (1992) considered the quartz-dioritic Goldcrest dyke a separate intrusion from the Colomac Sill. Several north-south striking quartz feldspar intrusions, similar to the Colomac Sill, were located in the Duck Lake area. These were mapped and sampled in detail and although they were locally very pyritic and hydrothermally altered, gold values from both lithogeochemical samples and diamond drilling were uniformly low (Cohoon et al., 1991a and b). Cohoon et al. (1991a and b) noted a relatively thick sequence of QFP, rhyolite porphyry and sericitic rhyolite in the approximate centre of the Project in the Nice Lake area, possibly associated with a high-level intrusion. These units are commonly pyritic (1 to 5%) and give rise to strong IP anomalies. Many of the units contain 10% to 15% quartz. Fieldwork by Nighthawk has shown the mafic to felsic volcanic sequence between Baton and Nice lakes is upright, dipping steeply to the east and facing east. This volcanic sequence is intruded by blue quartz-eye gabbro and the Nice Lake biotite tonalite (based on its mineralogy: glassy to blue quartz+plagioclase+biotite) and has the same structural and alteration overprint as the intrusive-volcanic rocks that host the Colomac deposits. A prominent aeromagnetic anomaly just east of the Colomac 2.0 open pit reflects an ultramafic intrusion under Baton Lake. This ultramafic unit is very schistose, and ankeritic quartz veining is present at its south boundary where the enclosing basalts are more competent. A unit of variolitic basalt was observed due east of the pit near the lakeshore, possibly the only occurrence of komatiites on the Project (Cohoon et al.,1991a and b). Several crosscutting faults were evident from both the geological and geophysical results, but none appear to be significant with respect to distribution of mineralization.

7.2.2 Colomac Project Mineralization and Alteration Gold mineralization in the Project area is thought to have taken place after isoclinal folding and before the end of the formation of the north-closing antiform along which several significant deposits are found, including the Colomac deposit on the east limb, Treasure Island on the fold nose, and the Kim/Cass deposits on the west limb (NWT

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Geoscience Office, 2012a). Brittle deformation of the more felsic quartz diorite relative to the more mafic and ductile diorite and gabbro portions of the differentiated intrusive complex at Colomac provided conduits for fluids that produced the mineralized quartz stockworks and veins. The Colomac Project contains several gold deposits and showings. The most significant deposits are: Colomac, Goldcrest, Gold Crest North (Dyke Lake), Grizzly Bear (Airport Showing), Zone 24 and Zone 27 (Cohoon et al.,1991a). A discussion of these deposits follows.

7.2.2.1 Colomac deposit Gold mineralization has been identified along an approximate 6.7-km strike length of the Colomac Sill and has been divided into a number of somewhat arbitrary zones based on their spatial position along the sill, their location with respect to historical claim boundaries, and the grade of their mineralization. The zones have been historically identified from north to south as 1.0, 1.5, 2.0, 2.5, 3.0, 3.5, 4.0 and 5.0. Zone 2.0 was mined from 1990 to 1991 and 1994 to 1997 to a depth of approximately 163 m below surface. Zones 2.5 and 3.0 were mined from 1995 to 1997 to respective depths of 51.8 m and 48.8 m below surface. All three pits were mined near to their lower reserve limits at the time of operation however mineralization is open to depth. Based on its drilling and lithogeochemical studies, Nighthawk reported that gold is preferentially located within the upper (eastern) more sodic and siliceous, quartz diorite, portion of the sill. The quartz diorite behaved in a brittle manner during regional structural deformation and was amenable to fracturing, fluid transport and mineral deposition, in contrast to the more ductile behavior of the lower more mafic quartz gabbro portion of the sill and the surrounding mafic volcanic rocks. Gold is found in several zones within the sill, in association with parallel sets of tensional quartz veins that consist of lenses of smoky grey quartz within white quartz (NWT Geoscience Office, 2012a). The quartz veins average from less than 0.5 cm to 10 cm thick and they commonly contain little (less than 5%) carbonate. They are generally co- planar, with variable trends and relatively shallow dips of 20° to 40°. Shallow-dipping veins will become steep-dipping when they enter sheared zones and become part of the shear veins, which may approach up to 1.0 m wide. Shear vein margins tend to be ribboned by crack-seal textures and may be sheared, a feature not noted with the high angle to core axis veins; i.e., shallow dipping “flat” veins. Contacts between veins and the host rock are sharp but may also appear gradational due to bleached, sulphidized halos. The quartz veins generally terminate at the sill margins, but a few small, barren quartz-carbonate veins occur locally in the overlying basalt. A late set of barren white quartz veins is also present. Gold occurs as fine grains along vein contact margins, in fractures, and in quartz vein and their selvages/halos. Gold is generally spatially associated with pyrrhotite and to a lesser degree with pyrite in quartz veins and vein selvages, arsenopyrite, tourmaline and trace quantities of sphalerite, galena, and molybdenite. The immediate vicinity of mineralization is generally bleached due to sulphidization and may be silicified due to quartz-filled micro-fractures. Alteration halos contain minor pyrrhotite, lesser pyrite, and trace amounts of sphalerite, galena and molybdenite.

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Zone 2.0 consists of the thickest and coarsest-grained portion of the Colomac Sill. Veins form up to 10% of Zone 2.0. True widths of the mineralized zones 2.0, 2.5, 3.0 and 3.5 vary from less than 10 m to locally 100 m. The deepest holes drilled on the Colomac zones intersected mineralization at a depth of approximately 790 m vertically below surface at Zone 1.5, and 800 m below surface at Zone 3.5. Historically, most drill holes in the 2.0 to 3.5 areas were completed to a vertical depth of less than 300 m (Figure 7-6). Colomac gold mineralization is spatially associated with what was historically referred to as a QFP or quartz-albite dyke. Nighthawk has introduced a different Colomac Sill rock- type terminology in its drill logs. It is apparent that: • “Quartz Diorite” intervals in the Nighthawk logs correspond spatially to “QFP” intervals in historical logs; • “Quartz Gabbro” intervals in Nighthawk logs correspond spatially to “Diorite” intervals in historical logs. The terminology in the historical logs has been renamed according to Nighthawk’s current lithological codes.

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From Trinder et al., 2018; modified after Lee and Trinder, 2012. Mine grid uses imperial, looking north Figure 7-6 – Typical geological section through the Colomac deposit – Zone 3.0

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7.2.2.2 Goldcrest deposit Goldcrest Main (aka Goldcrest South) The Goldcrest Main deposit is hosted by the Goldcrest Sill, a medium-grained, quartz diorite and diorite intrusive complex Similar to the Colomac Sill. It was historically referred to as a dioritic to trondhjemitic quartz-albite intrusion. Like the Colomac Sill, the Goldcrest intrusion has historically been referred to as a dyke because of its steeply dipping orientation. The mineralized zone is very similar to the Colomac Sill deposits where quartz veins cut competent, fractured, quartz diorite but the mineralization and veining is more erratic at Goldcrest. The Goldcrest Sill is approximately 500m west of the south portion of the Colomac Sill, near the west shores of Fly and Ridge Lakes (NWT Geoscience Office, 2012b). Goldcrest is located approximately 1 km west and 2.25 km south of the Colomac Zone 2.0 deposit. It trends 020Az, dips steeply east, has a cumulative strike length of over 1,500 m, and ranges from 20 m to 80 m wide. A second mineralized area, about 120 m east of the central portion of the Goldcrest Sill lies between Ridge and Fly lakes, and consists of a 24.4-m wide, fine-grained, siliceous quartz-(albite) porphyry within andesitic flows (NWT Geoscience Office, 2012b). The porphyry is fractured and contains glassy white quartz veins, with some local pyrite. Mineralization has been intersected over a strike length of approximately 800 m and has been tested to 400 m below surface. True widths of the mineralized zones vary from 10 m to 30 m. The mineralized zone dips steeply to the east, parallel and spatially related to the quartz diorite. Goldcrest North (aka Dyke Lake Zone) The Goldcrest North deposit (previously referred to as the Dyke Lake Zone by Northgate Exploration Limited) was (re)discovered by diamond drilling in November 1989 and may be the northern end of a unit explored in 1945 by drilling on the Nareco SW Property, where three areas were trenched over a length of 305 m and seven (7) drill holes intersected up to 0.42 oz/t over 2.1 m (NWT Geoscience Office, 2012b). It is located about 350 m west of the Colomac Sill and is roughly on strike with the Goldcrest Sill, although no continuity has been established between the two zones. The host rock at Goldcrest North has historically been described as a fine-grained, massive, siliceous, sericitized quartz or dacite porphyry dyke/sill associated with a narrow band of rhyolite but is referred to herein as a diorite-quartz diorite intrusion using Nighthawk’s current terminology. Abundant glassy grey quartz veins cut the intrusion which is up to 18 m wide. Pyrrhotite and arsenopyrite are present. Mineralization has been intersected over a strike length of approximately 250 m and has been tested to 200 m below surface. Mineralization averages 12–15 m in width, dips steeply to the east, and is parallel and spatially related to the hanging wall (eastern contact) of the quartz diorite. Gold is associated with an alteration assemblage that includes silicification, feldspathization and sulphidization, with minor chlorite, tourmaline and carbonate. Sulphides include pyrite, pyrrhotite and arsenopyrite, disseminated in both quartz veins and in the wall rock. However, the sulphides occur more often as fillings in hairline fractures. Although gold is always associated with quartz veins and sulphides, there is no direct correlation between the quantity of veins or sulphides and gold values.

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Historical drilling indicates that the favourable quartz diorite pinches out to the north. The quartz diorite has not been closed off to the south, but no significant gold mineralization was located in the southernmost section of the holes. The zone remains poorly defined and open at depth (From Trinder et al., 20118; modified after Lee and Trinder, 2012. Mine grid uses imperial, looking north, Figure 7 7). .

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From Trinder et al., 20118; modified after Lee and Trinder, 2012. Mine grid uses imperial, looking north Figure 7-7 – Typical geological section through the Goldcrest North Zone

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7.2.2.3 Grizzly Bear deposit (aka Grizzly Zone and Airport Zone) The Grizzly Bear deposit (previously referred to as the Airport Zone by Neptune Resources Limited) is located on mining leases 3529 and 2662, about 3 km west and 2 km south of the Colomac Zone 2.0 deposit. The Grizzly Bear showing was (re)discovered on the AGE 2 claim by Neptune in 1990 when a long, linear magnetic high was identified by airborne magnetic and ground Max- Min HLEM survey sat the contact of mafic volcanics and turbiditic sediments. Soil and rock sampling and four (4) diamond drill holes (454 m) were completed the same year on two targets: a group of three historical trenches (1945 vintage) on sericitized dacites and rhyodacites at a volcanic-sediment contact; and an isolated electromagnetic conductor. Near the old trenches, one (1) drill hole intersected up to 8.47 g/t Au over 1.4 m and 6.93 g/t Au over 1.3 m (NWT Geoscience Office, 2012c). Neptune extended the mineralization in the mafic volcanic and felsic horizon over a length of 580 m and a width of 24 m to 61 m (Cohoon et al.,1991a and b). In 1996, Royal Oak Mines Inc. extended the zone of hydrothermal alteration and mineralization to a total strike length of 1,000 m and a vertical depth of 100 m at 30-m drill hole spacings. Visible gold was encountered in 22 out of 39 drill holes in the central part of the zone, with best assays of 9 g/t Au over 6.06 m, 6.96 g/t Au over 4.87 m, and 2.60 g/t Au over 16.76 m. The deposit is underlain by greenschist-grade mafic volcanics and sediments, containing a felsic lapilli tuffaceous horizon. The tuff is strongly foliated, rhyolite clast-supported, pervasively sericitized, contains thin wisps of pyrrhotite parallel to the foliation, and may have local biotitization and carbonatization. The mineralized zone is subparallel to the strata, trending northeast, and contains anomalous hydrothermal alteration, sulphide mineralization and gold (NWT Geoscience Office, 2012c). The mineralization consists of quartz veins and veinlets, with disseminated sulphides and native gold over widths up to 15 m. In 2017, Nighthawk drilled two (2) holes in the central portion of the deposit to test the near-surface mineralization reported in historical holes. The drilling confirmed the presence of higher-grade mineralization at Grizzly Bear over significant widths and to depth. Holes GB17-01 and GB17-01B confirmed the zone to a vertical depth of approximately 100 m (Figure 7.8). The shallower hole, GB17-01, intersected 11.30 m (core length) of 1.91 g/t Au, including 3.80 m of 3.87 g/t Au, while the steeper hole, GB17-01B, intersected 12.60 m (core length) of 4.96 g/t Au, including 8.00 m of 7.32 g/t Au, and 4.00 m of 13.40 g/t Au. True widths are uncertain (Figure 7-8).

The zone remains poorly defined and open at depth.

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From Trinder el al. 2018; modified from Lee and Trinder, 2012. Mine grid uses imperial, looking north Figure 7-8 – Typical geological section through the Grizzly Bear deposit

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7.2.2.4 Deposit 24 (aka Zone 24) The deposit 24 is located along a north-trending contact between volcanic rocks to the east and sedimentary rocks to the west, on the west bank of the Indin River. The deposit area is approximately 200 m by 10 m. Volcanic rocks range from mafic to intermediate massive flows with some irregular diorite intrusions. Sedimentary rocks are predominantly greywacke turbidites, but graphitic argillites/mudstone horizons are also present (NWT Geoscience Office, 2012d). Zone 24 is marked by areas of intense quartz flooding within interbedded andesite and greywacke siltstone. Quartz flooding occurs as parallel “veins”, with a strike length varying from 1.5 m to 7.5 m and widths from 0.15 m to 3.0 m. The quartz flooding trends at 175Az and dips 80° to 85° to the southwest. The quartz-flooded zones are greyish- white to smoky black, highly strained, and commonly contain carbonatized and/or sericitized wall rock inclusions. Adjacent to the zones, the volcanics are commonly altered to carbonatized and chloritized schist, while the sediments are locally altered to sericitic schist. Grab samples of sulphide-bearing quartz and country rock collected by Neptune Resources Limited returned values varying from 3 ppb Au to 109.20 g/t Au (Cohoon et al.,1991a and b). Joint exploration by Northwest and Neptune included eighteen (18) diamond drill holes (2,129 m) to test the deposit, which is up to 9 m in width ( Figure 7-9). Quartz flooding was encountered in the holes over 100 m of strike length. Two distinct mineralized zones were intersected, carrying up to 10% pyrite, pyrrhotite and arsenopyrite, along with minor chalcopyrite and occasionally galena and sphalerite. Visible gold was found in some holes. Alteration includes chlorite, sericite and carbonate, and garnet growth appears adjacent to some of the better mineralized intersections. Small magnetite-rich syenite dykes are also present in the altered rocks (NWT Geoscience Office, 2012d). Significant but erratic gold mineralization was intersected in the drill holes (Cohoon et al.,1991a and b). Trench sampling later in 1991 returned values up to 202.29 g/t Au over 1.5 m in Trench 91-03, although there are no details about trench locations or the sampling results (NWT Geoscience Office, 2012d). Deposit 24 remains open along strike and at depth.

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Figure 7-9 – Longitudinal section of zone 24 and 27

7.2.2.5 Deposit 27 (aka Zone 27)

The area referred to as deposit 27 is approximately 550m south of deposit 24 ( Figure 7-9) along the volcanic/sedimentary contact. DDH 1671-027 was drilled to test a surface showing that consisted of quartz veins in andesite carrying up to 68.57 g/t Au. The hole intersected 4% narrow (roughly 1 cm thick) quartz veins, trending 10° to 30° to the core axis, which returned an average grade of 2.37 g/t Au over 23.5 m. Although Zone 27 is near the volcanic-sedimentary contact, like Zone 24, its style of mineralization is different (Cohoon et al.,1991a and b). Ten (10) holes totalling 1,329 m were drilled on this zone. Nine (9) were drilled from east to west, targeting the mineralized zone over a strike length of 174 m. These holes were collared east of the target due to topographical restrictions. As a result, these holes penetrated long intersections of sediments and a diabase dyke east of the andesite- hosted mineralization. After reaching the top of the escarpment, the last hole (DDH 1671- 065) was drilled obliquely (121Az) to test both crosscutting structures and the mineralization encountered in hole 1671-027 (Cohoon et al.,1991a and b). Although visible gold was seen in five (5) holes, many samples returned low values (generally less than 0.99 g/t Au). Hole 1671-065 intersected a 40-m-wide zone with 5% quartz carbonate veining and numerous occurrences of visible gold over 25.4 m. Assay results averaged 2.91 g/t Au over 27.4 m. Most of these veinlets were at good angles (65° to 90°) to the core axis. The mineralization consists of free gold in narrow (average 7.5 mm) quartz veins (Cohoon et al.,1991a and b). The wallrock throughout the zone contains 3% very finely disseminated pyrrhotite, locally concentrated in short altered sections.

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The zone remains open along strike to the north and at depth.

7.2.2.6 Exploration at Depth Historical and more recent exploration work (Nighthawk) has intersected gold mineralization in shallow drill holes over a 5.5-km strike extent within the Colomac Sill. Of all the holes that have intersected the Colomac and Goldcrest deposits, 94% were drilled within 300 m of surface, and the majority of those extended less than 200 m vertically below surface. In 1997, the last year of production, Royal Oak conducted a deep drilling program in Zone 3.5 of the Colomac deposit. The holes passed through a steep northeast-plunging shoot of mineralization, which has a higher grade than the average grade of mineralization at Colomac. The deepest drill hole in this area (3.5-97-08), intersected two intervals of 7.63 g/t Au over 4.6 m (core length) and 8.44 g/t Au over 4.3 m (core length) (true thicknesses unknown in both cases) at a vertical depth of approximately 792 m below surface (Figure 7.10). In 1997, Royal Oak also completed drill hole 2.0-97-02 in the Zone 2.0 open pit area, which intersected 1.27 g/t Au over a mineralized core interval of 120.7 m (true thickness unknown) at a vertical depth of approximately 670 m below the surface. This grade is similar to the Zone 2.0 pit at a depth of approximately 90 m below the surface. Nighthawk intersected another steeply plunging, higher grade shoot at Colomac in Zone 1.5. Examples of higher grade mineralization included a core intervals of 145.75 m (25.00 m true width) grading 3.33 g/t Au, including 22.70 m of 6.68 g/t Au and 10.80 m of 12.19 g/t Au; and a core interval of 50.30 m (45.30 m true width) grading 2.58 g/t Au, including 23.70 m of 4.78 g/t Au, including 17.00 m of 6.20 g/t Au, and including 10.20 m of 10.14 g/t Au. In 2017, Nighthawk completed a drill hole that intersected 0.94 g/t Au over a mineralized core interval of 342.50 m (true thickness unknown) to a maximum vertical distance of approximately 900 m below surface (Figure 7-10). These drill hole intersections demonstrate the potential for discrete higher-grade mineralized trends within the Colomac Sill. The trends remain unconstrained at depth. At both Zone 1.5 and Zone 3.5, mineralized quartz diorite has been drilled 450 m below the current resource block model where it remains open, demonstrating the potential to follow these higher-grade domains deeper, down to approximately 1 km below surface.

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Figure 7-10 – Longitudinal section of the Colomac deposit showing deep drill hole intercepts

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7.3 Damoti deposit The Damoti deposit (aka Damoti Lake) is located approximately 30 km to the southeast of the Colomac Project (Figure 7.4). The Damoti deposit is part of the Damoti Property, a group of claims that includes the nearby BIF Island and North showings.

7.3.1 Damoti deposit – Geology The lithologies of the Damoti Property are dominated by the sedimentary Damoti Basin (Waychison W., 2011). This basin is dominated by a turbidite sequence containing minor oxide-silicate iron formations. The sedimentary rocks are composed of finely-bedded, rhythmically layered, sequences of argillite, siltstone and greywacke beds forming units ranging in size from millimetre- thick argillite laminations to tens of meters thick greywacke horizons. Thin lenses of pyrite-pyrrhotite-bearing iron formation, sulphide-bearing argillite and graphitic argillite often occur in the sediments, which in some cases interfinger with felsic volcanic pyroclastic units. Numerous NW to NNW-trending Proterozoic diabase dykes, along with several granitic plugs, cut the volcanics and sediments throughout the area (Morgan, 1992).

7.3.2 Damoti deposit – Mineralization Exploration programs in the Damoti Lake area confirmed that metamorphosed greywacke-turbidites locally contain interstratified amphibolitic (grunerite) iron formations. The latter displays positive magnetitic responses and form BIFs containing disseminated to laminae-rich magnetite intercalated with laminae and bands of cherty and (amphibole-)silicate facies iron formation. Field evidence observed during 2009 and 2010 exploration programs (Waychison, 2011) suggests that contrary to the BIF exhalative models for mineralization at Damoti Lake, the sulphides hydrothermally replace magnetite with gold being strongly associated with pyrrhotite-pyrite and to a lesser extent with quartz veining and chlorite. The iron formations are highly folded along north to northeast trending axes (Figure 7-11), with the main mineralized zone being a U-shaped syncline fold named the Horseshoe Zone. The best gold values are associated with fracture-controlled sulphides within dilation and pressure shadow areas within the isoclinal folded and faulted BIF. The bulk of the mineralization has thus far been delineated on the east limb of the Horseshoe syncline (Figure 7-12) with some remarkable intercepts on the west limb (e.g. 3.42 g/t Au over 9.25 m in D09-382).

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From InnovExplo, 2019. Figure 7-11 – 3D structural interpretation of the Damoti deposit

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From InnovExplo, 2019. Quartz veining stacking and associated gold mineralization (in red) in the east limb of the fold (looking north) Figure 7-12 – Typical geological section of the Horseshoe syncline of the Damoti deposit

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8. DEPOSIT TYPES

This section has been largely based on previous reports on the Property (Lee et al., 2012; and Trinder et al., 2018). Two main gold deposit models are relevant to most of the ore deposits and showings on the Property: greenstone-hosted quartz-carbonate vein deposits (“GQCV”) and banded iron formation (BIF)-hosted gold deposits. Additionally, following recent detailed geological mapping and sampling, several characteristics of an intrusion-related gold system (“IRGS”) are emerging for the Andy Lake area.

8.1 Greenstone-Hosted Quartz-Carbonate Vein Deposits GQCV deposits are structurally controlled, complex epigenetic deposits that are hosted in deformed and metamorphosed terranes. They 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 extensional veins and hydrothermal breccias. They are dominantly hosted by mafic metamorphic rocks of greenschist to locally lower amphibolite facies and formed at intermediate depths (5-10 km). GQCV deposits are typically associated with iron- carbonate alteration. Gold is mainly confined to the quartz-carbonate vein networks but may also be present in significant amounts within iron-rich sulphidized wall rock. GQCV deposits are distributed along major compressional to transpressional crustal-scale fault zones in deformed greenstone terranes of all ages, but are more abundant and significant, in terms of total gold content, in Archean terranes (Dubé and Gosselin, 2007).

In the Property area, GQCV deposits can be subdivided into several different styles:

• Auriferous, stacked quartz veins/stockworks/silicified zones hosted by felsic porphyritic intrusives (e.g., Colomac, Goldcrest and Goldcrest North/Dyke Lake). • Auriferous, stacked silicified zones, often spatially associated with felsic units (e.g., Grizzly Bear, Laurie Lake, Treasure Island, and Chalco Zone–West Shore and Face Peninsula showings). • Auriferous quartz veins or silicified zones in mafic volcanics often within or near graphitic argillites and fault/shear zone along contacts of mafic volcanic- sedimentary belts (e.g., Zone 24, Zone 27, Chalco Zone–Northeast and Chalco Zone–North End showings, North Inca mine, Diversified mine, #3 Zone, Lexindin Zone and Barker-Vidie showing). • Gold associated with sulphides (in particular, arsenopyrite and loellingite) and quartz-carbonate veins or silicified zones within mafic volcanic units or intrusive equivalents (e.g., Echo-Indin, Goose Lake, Lucky Lake, and Albatross showings – the possible extensions of the Kim and Cass Zones which lie outside the Property area). All GQCV styles, except the latter, are known to be present within the Colomac Project.

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8.2 Banded Iron Formation-Hosted Gold Deposits BIF-hosted gold deposits mainly occur within Archean-aged greenstone belts, typical of the shield areas of northern Ontario, Quebec, the NWT and Nunavut. Generally, BIF host rocks are thinly banded sedimentary rocks with alternating iron-rich and cherty (siliceous) layers. Gold mineralization is commonly associated with quartz and iron-carbonate veining and zones of hydrothermal alteration with iron sulphides (mainly pyrite, pyrrhotite and/or arsenopyrite) located mainly along shear zones associated with tightly folded and structurally complex BIF horizons that provide favourable chemical and structural traps. The Damoti Lake, BIF Island, Fishook and JPK deposits and showings are examples of BIF-hosted gold deposits within the Property. Lease 3527 on the Colomac Project covers the possible southeast strike extension of the auriferous BIFs around Spider Lake to the northwest, including the JPK showing.

8.3 Intrusion-Related Gold Systems IRGS have mostly been recognized in the Proterozoic and Phanerozoic, with abundant examples throughout the Tintina Gold Belt Province of the North American Cordillera. Archean intrusion-related mineralization has also been described in the Eastern Goldfields of the Yilgarn Craton of Australia and the Abitibi belt of the Superior Province of Canada (Hart and Goldfarb, 2005). The tectonic setting for IRGS deposits is within deformed shelf sequences on the inboard side of accreted terrains and terranes. IRGS gold mineralization is typically associated with low-grade (<1 g/t Au) auriferous sheeted veins spatially associated with cupolas and contact aureoles of relatively reduced, alkaline-leaning, volatile-rich plutons. Mineralization is hosted by an array of veins, stockworks, skarns and replacement bodies. Other than the diagnostic vein texture, the volatile-rich cupola environment might be identified by the presence of exsolution fluids such as aplites/pegmatites, tourmaline veins and greisen alteration. Timing of IRGS deposits is said to be coeval (±2 Ma) with their associated, causative pluton. IRGS tend to develop subsequent to regional metamorphic and deformation episodes in the host allochthons (Hart and Goldfarb, 2005).

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9. EXPLORATION

9.1 Geophysical Surveys

9.1.1 2018 IP survey From April 18 to May 14, 2018, Abitibi Geophysics Inc. of Val-d’Or, Quebec, completed a Time-Domain Resistivity/IP survey on the Property using their proprietary deep- penetrating OreVision® array.

A total of 25.5 km of lines were surveyed for Nighthawk over different areas of the Property (Figure 9-1). The surveyed areas were Leta Arm (16 km), Andy Lake (2.5 km) and Swamp (7 km). The aim of the survey was to delineate and prioritize targets for further exploration (Abitibi Geophysics, 2018). Maps of resistivity, conductivity, metal factor and gold index were produced, as well as 3D inversion sections, to define drilling targets and determine prospective areas of the Colomac sill on the Property.

From Abitibi Geophysics, 2018. Figure 9-1 – Locations of the 2018 IP survey grids on the Indin Lake Property

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9.1.2 2018 magnetic and gravity surveys From April 14 to May 8, 2018, SJ Geophysics Ltd of Delta, British Columbia, completed both ground magnetic and gravimetric surveys on the Indin Lake Property on behalf of Nighthawk. A total of 203.9 km and 4.5 km of lines were covered for the ground magnetic and gravity surveys, respectively, over different areas on the Property (Figure 9-2). The surveyed areas comprised Treasure Island, Swamp, Nice Lake South, Andy Lake as well as the Colomac deposit area (3.5 Blowout, Infill 1 and 2). The objective of the ground magnetic data was to map magnetic features within the defined areas of interest. The data was gathered to assist with the mapping of geologic units and structures on the Property. The objective of the gravity survey was to test the effectiveness of the gravity method on the Property (SJ Geophysics, 2018). Some of the data in areas with significant glacial drift was deemed invalid and the results inconclusive.

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From SJ Geophysics, 2018. Figure 9-2 – Locations of the 2018 magnetic and gravity survey grids on the Indin Lake Property

9.1.3 2019 IP Survey From April 9 to May 28, 2019, Abitibi Geophysics completed a Time-Domain Resistivity/IP survey on the Property using deep-penetrating OreVision® array. A total of 19.7 km of lines were surveyed for Nighthawk over different areas of the Property (Figure 9-3). The surveyed areas comprised Treasure Island (9 km) and the

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Colomac deposit area, Grids I (0.6 km), K (4.3 km) and L (5.8 km). This ground geophysical campaign was conducted in order to detect and help delineate targets for further exploration in three areas: Treasure Island, Colomac (I, K and L grids) and Andy Lake. However, the Andy Lake survey did not take place due to ground conditions. Resistivity, conductivity, metal factor and gold index maps, as well as 3D inversion sections, were produced for the other areas to assist with drilling and exploration.

From Abitibi Geophysics, 2019. Figure 9-3 – Locations of the 2019 IP survey grids on the Indin Lake Property

9.2 Surface Exploration

9.2.1 2018 summer exploration program From June 4 to September 10, 2018, GeoMinEx Consultants Inc. (“Geominex”) of Vancouver, British Columbia, conducted geological evaluations, prospecting and limited geological mapping on the Property on behalf of Nighthawk. A total of 1,477 rock, chip and channel samples were collected over the different areas of the Property during the exploration campaign (Walther and Indra, 2019). Figure 9-4 presents the gold assay results for the 2018 surface sampling program.

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Modified after Walther and Indra, 2019. Figure 9-4 – 2018 summer exploration surface sampling results for the Indin Lake Property

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9.2.1.1 Andy Lake As part of Geominex’s 2018 prospecting and sampling program, a more detailed geological mapping and structural study was conducted by Terrane Geoscience Inc. of Halifax, Nova Scotia, in the Andy Lake area and in the Gamey Lake Volcanic Panel (LaFlamme, 2018). The study area consists of volcanic lithologies of the Hewitt Lake and Leta Arm Groups juxtaposed against sediments of the Chalco Lake Group. The mafic to felsic volcanic and volcaniclastic units of the Hewitt Lake Group are intruded by the Andy Lake granodiorite and associated granitoid dykes. Several stages of deformation have affected the lithological units, but Fe-carbonate veining has apparently affected only the Hewitt Lake Group units. The results of the detailed fieldwork indicated that the most prospective style of mineralization is associated with quartz veins that intrude synchronously with the Andy Lake granodiorite. These sheeted quartz veins are 1-30 cm wide, often hematite-altered, and contain visible pyrite and chalcopyrite mineralization. The veins (0.5-2 g/t Au, but up to 42 g/t Au) form a NNE-SSW trend away from the Andy Lake granodiorite and are spatially associated with aplite or pegmatite dykes indicative of hydrothermal fluid generation. Quartz veining was determined to be coincident with late, steeply dipping, roughly N-S shearing. Other than Au, the samples were also anomalous in Ag, Bi, Cu, Mo and Pb. Based on the above observations, LaFlamme (2018) interpreted the mineralization at Andy Lake as an intrusion related gold system (“IRGS”). Geophysical surveys indicate that the area coincides with a west-dipping moderate IP anomaly with a coincident resistivity high. Follow-up drilling was recommended (LaFlamme, 2018).

9.2.2 2018 structural mapping of the Colomac Project In 2018, SRK Consulting (Canada) Inc. (“SRK”) from Toronto, Ontario, conducted a 6- week mapping program focused mainly on the historical Zone 1.0 of the Colomac mine to Grizzly Bear in the south. This work complemented SRK’s previous work from 2017. The firm concluded that although several phases of deformation are present on the Property (D1–D6, D2 being the main phase), a critical factor in the localization of gold in several deposits on the Property (e.g., Colomac, Leta Arm and Andy Lake) is the intersection and overprinting of early D2 (D2a) high-strain zones by NNE-oriented late-D2 (D2b) shear zones/faults (Hrabi, 2019).

9.2.3 2019 summer exploration program Geominex conducted the 2019 summer exploration program on behalf of Nighthawk. The assessment report was not available at the time of writing. The work involved geological evaluations, prospecting and geological mapping in different areas of the Property. Areas covered during the 2019 program included the northern extensions of the Gamey Lake Volcanic Panel, Albatross, Treasure Island, Nice Lake, Andy Lake and Fishhook. Detailed mapping and sampling took place in the Andy Lake area. As a complement to the summer exploration program, InnovExplo compiled the geology and mineralization on the Property and reassessed the styles of mineralization present. Figure 9-5 provides details of the types of mineralization identified by InnovExplo.

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Modified from Durieux, 2019. Note: BIF, Banded Iron Formation; GQCV Au, Greenstone-Hosted Quartz Carbonate Gold; VMS, Volcanogenic Massive Sulphides; SEDEX, Sedimentary Exhalative deposits; PGE, Platinum Group Elements. Figure 9-5 – Mineralization styles identified on the Indin Lake Property

InnovExplo’s field validations took place from August 19 to 31, 2019. Roughly a dozen regional targets were covered. The collected samples were incorporated into Geominex’s ongoing summer field program. Figure 9-6 shows selected regional target areas for the Property.

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From: Durieux, G., 2019. Note: Type IIa: 24/27, Eastern Belt, South of Andy Lake, Carving Stone; Type IIb: Albatross, Nice Lake Trend, Nose Fold, Complex Zone; Type IIc: Old Spider Lake Grid; Type III: Andy Lake; Type IV: Old MAG Claim; Type V, West of Andy Lake; Type VI: Diabase Arm. Figure 9-6 – Selected regional follow-up targets on the Indin Lake Property

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9.2.4 2019 LiDAR survey of the Colomac deposit In July 2019, Japosat Satellite Mapping from St-Constant, Québec, conducted a detailed LiDAR survey coupled with high-resolution imagery in the Colomac deposit area. The main purpose of the survey was to assist with the structural interpretation and 3D modelling of the Colomac deposit, largely by collecting surface data from the inaccessible and nearly vertical pit walls from the former mining operation. Figure 9-7 shows the structural measurements taken on the pit walls using a high- resolution image superposed over the detailed LiDAR survey.

Fontaine et al., 2019. Figure 9-7 – Structural measurements taken on a high-resolution image superposed over the detailed LiDAR topography in an inaccessible part of the Colomac deposit.

9.2.5 2019 structural review of the Colomac deposit From June 4 to 11, 2019, InnovExplo conducted a structural review of drill core from different zones of the Colomac deposit. The purpose of the study was to collect and validate data for the 3D litho-structural modelling of the deposit to support the MRE update. The drill core data were combined with the structural data from a surface study and from the LIDAR drone survey (Figure 9-8). The results confirmed the contrasting deformation styles between the Lower/Upper Gabbro units (ductile) and the Colomac quartz diorite sill (brittle; Faure and Durieux, 2019). Measurements indicate that Colomac mineralized vein sets consist of a simple to complex conjugate network of gold-bearing, extensional veins and hydrothermal breccias with local laminated quartz-carbonate fault-fill veins in moderately to steeply dipping, compressional brittle-ductile shear zones and faults. The complex stockwork of flat lying to steeply dipping gold-bearing structures appear to be hosted and controlled by the quartz diorite upper portion of the subvertical sill. Structural modeling suggests that steeply dipping mineralized shoots within the quartz diorite are related to complex stacking of gold-bearing veins (Figure 9-9).

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Fontaine et al., 2019. Figure 9-8 – Structural measurements used to construct the 3D litho-structural model for the Colomac deposit.

Fontaine et al., 2019. Note: A – Previous model; B – 2019 new model (InnovExplo) Figure 9-9 – 3D litho-structural model of the Colomac deposit (Zone 1.5).

At the deposit scale, these subhorizontal stacked veins form envelopes of shoots with generally steep plunges to the north (Zone 1.0, 1.5 and 2.0) and south (Zone 2.5, 3.0 and 3.5). Figure 9-10 presents the results of the 3D litho-structural modelling for the Colomac deposit.

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From Fontaine et al., 2019. Figure 9-10 – N-S longitudinal section showing the 3D structural model of the Colomac deposit

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10. DRILLING

This item describes the issuer’s surface diamond drilling campaigns in 2018 and 2019 (collectively, the “2018-2019 Drilling Program”). The program ran from March 9, 2018 to January 23, 2020, the close-out date of the database for this Technical Report. The Leta Arm, Treasure Island and Swamp projects are not the focus of this report, but the results are presented in section 10.5Erreur ! Source du renvoi introuvable. for completeness. P revious drilling programs are summarized in Item 6. The 2018-2019 Drilling Program was supervised by William Waychison, M.Sc., P.Geo., Vice-president Exploration for Nighthawk. Mr. Waychison acted as the QP for all activities related to the drilling, including the preparation and supervision of the geological logging and the scientific or technical information related to drilling. The information was provided by the issuer’s geology team or obtained by InnovExplo’s geologists during their site visits and subsequent discussions.

10.1 Drilling Methodology The personnel, supplies, and ancillary equipment for the drilling program were provided under contract by Major Drilling Group International Inc, of Rouyn-Noranda, Quebec. Drilling was carried out with NQ caliber (47.6 mm core diameter). Generally, holes were drilled with maximum stabilization using 6-m hexagonal core barrels with a 36" or 18" shell on surface. The downhole orientation survey was performed by the drilling company and sent to the geologist for approval. A Reflex EZ-SHOTTM tool was used to record deviation surveys by taking single-shot measurements every 30 m during drilling. Azimuth readings were dismissed where the magnetite content in the host lithology was high. In such cases, where possible, an average of the change in azimuth was calculated for the station as a weighted average for distance from assumed valid azimuth readings located up-hole and downhole of the station or flat-lined near the end of hole where no valid reading was available downhole. During the 2018-2019 Drilling Program, 71 over 234 drill holes were oriented using the Reflex Act IIITM system. As per standard Nighthawk procedures, the driller helper places the core into core boxes at the rig, marking off every 3 m with wooden blocks. Once a box is full, the helper wraps it in tape. Drillers deliver the core to the Nighthawk core logging facility daily by road or by air using a helicopter. Drill hole casings remain anchored in bedrock to allow future surveying or lengthening. Land based drill hole casings are cut close to the ground and closed with an aluminium cap stamped with the hole number. All holes drilled on the Colomac and Goldcrest deposits during the 2018-2019 Drilling Program had been cemented within bedrock at the collar.

10.2 Collar Surveys Sub-Arctic Geomatics Ltd, of Yellowknife, provided a land surveyor with a GPS base station to survey the proposed and completed 2018 and 2019 drill collar locations. In

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2018, the survey was conducted from March 1 to 6, March 28 to April 7, May 11 to 12, and June 15 to 29. In 2019, it was conducted from March 5 to 8, April 9 to 13, May 24 to 25, June 12 to 16, August 30 to 31 and October 1 to 4.

10.3 Logging Procedures As the core boxes arrived at the core shack from the drill, the meterage in each box was recorded and verified by a technician. The hole number and meterage were reported on an aluminium tag stapled to the core box. Rock Quality Designation (“RQD”) was measured and entered in an Excel table every metre. The drill core was aligned according to the driller marks drawn at the end of each 3-m interval drilled to indicate the bottom of the hole. The orientation line is drawn along the core by a geologist or geotechnical staff. Good confidence is reached when the orientation line joins the driller marks on both sides of the 3-m run. Geological logging was then performed, and the following features recorded in MX Deposit software: • Lithology • Grain size and texture • Rock color • Alteration type and strength • Sulphide type and amount • Vein type, width and density • Structural features (e.g., foliation, shearing, brecciation, faulting) If the core is oriented, the alpha and beta angles of structural features are measured using REFLEX IQ-LOGGERTM. Sampling intervals are marked with a red marker by a geologist. In general, the length of a sample should not exceed 1.0 m. In the case of visible gold or a significant sulphide content, samples ranged from 0.5 to 0.75 m long for greater detail. Sample boundaries respect lithological boundaries and/or major changes in alteration/mineralization/veins. Since 2019, digital photographs of the marked and tagged core are taken for archival purposes. Once logged and labelled, samples are sawn in half using a circular rock saw. One half is placed in a plastic bag with the corresponding ID tag for shipment to the laboratory, and the other half is stapled to the core box at the end of each sampled interval for reference. The reference drill cores are stored onsite in outdoor core racks.

10.4 Metallurgical Testwork In 2018 and 2019, Starkey & Associates Inc. were contracted to conduct metallurgical tests on selected core samples. The programs were third and fourth generations of preliminary metallurgical testwork on material from the Colomac project.

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In 2018, four (4) bulk drill core samples were collected from twenty-one (21) boreholes covering seven (7) mineralized zones in the Colomac and Goldcrest sills. Each sample consisted of approximately 70 kg of drill core. In 2019, four (4) bulk drill core samples were collected from zones 2.0, 2.5 and 3.0 in the Colomac Sill. Each sample consisted of approximately 70 kg of drill core. Results of this study are presented in item 13.

10.5 2018-2019 Drilling Program During the 2018-2019 Drilling Program, 234 holes (73,446 m) were drilled on the Property, including 163 holes over a length of 55,219 m on the Colomac Project. In 2018, three (3) rigs drilled 124 holes (32,602 m) on the Property. Drilling was performed on the Leta Arm Project (North Inca, #3, Diversified and Lexindin), the Treasure Island Project, the Swamp Project, the Damoti Project, and the Colomac and Grizzly Bear deposits on the Colomac Project. In 2019, three (3) rigs drilled 110 holes (40,844 m) on the Property. The target areas were the Treasure Island Project and the Colomac and Goldcrest deposits on the Colomac Project. Details about the information presented in this section are available in Nighthawk’s press releases and the 2018 and 2019 annual reports. A summary of the 2018-2019 Drilling Program on the Indin Lake Property is presented in Table 10-1.

Table 10-1 – Drill hole summary for the 2018-2019 Drilling Program on the Indin Lake Property

Year Project Deposit DDH Count Length (m) Colomac 44 12,685 Colomac Project Grizzly Bear 11 2,367 Damoti Project Damoti 17 5,140 Diversified (Leta Arm) 14 3,446 2018 #3 (Leta Arm) 6 1,294 Lexidin (Leta Arm) 2 429 Other Projects North Inca (Leta Arm) 11 2,513 Swamp 3 693 Treasure Island 16 4,035 Sub-total 124 32,602 Colomac 84 32,835 Colomac Project 2019 Goldcrest 7 2,193 Other Projects Treasure Island 19 5,816 Sub-total 110 40,844 Total 234 73,446

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10.5.1 Colomac deposit In 2018, forty-four (44) holes were drilled on the deposit for 12,685 m. The aim was to test the extension of mineralization to the north and at depth, and to fill in gaps near the surface portion of the mineralized zone. The results extended the mineralization of Zone 3.5 for 110 m to the north and demonstrated its steep north-plunging trajectory (holes C18-09, C18-12 and C18-12B). The mineralization appears to widen at depth to over 80 m (true width) in hole C18-09. The highlights for Zone 3.5 were: • C18-06 intersected 1.53 g/t Au over 71.5 m (27 m true width), including 3.58 g/t Au over 9.65 m. • C18-12B intersected 1.15 g/t Au over 85.5 m (22 m true width), including 4.48 g/t Au over 9.75 m. The dimensions of Zone 1.5 were extended to 300 m along strike, 660 m in vertical depth, and a true width of 30 to 60 m near surface and over 155 m at depth. The highlights for Zone 1.5 were: • C18-05 intersected 2.91 g/t Au over 84.3 m (41 m true width), including 8.11 g/t Au over 4.25 m. • C18-14 intersected 1.36 g/t Au 45.25 m (32 m true width), including 7.37 g/t Au over 2.25 m. For zones 2.0, 2.5 and 3.0, drilling confirmed the continuity of mineralization within the large near-surface gaps, and also extended zones at depth below the current resources and identified new areas of higher-grade mineralization that suggest the presence of new high-grade gold shoots. The highlight for these zones were: • C18-19B: 2.98 g/t Au over 20.1 m, including 9.54 g/t Au over 5 m (Zone 3.0). • C18-25B: 1.68 g/t Au over 51 m, including 3.17 g/t Au over 8.25 m (Zone 2.5). • C18-26: 3.42 g/t Au over 25.25 m, including 7.10 g/t Au over 7.25 m (Zone 2.0). From: Nighthawk, 2018. Figure 10-1Figure 10-1 illustrates the distribution of holes drilled on the Colomac deposit during the 2018 campaign.

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From: Nighthawk, 2018. Figure 10-1 – Drilling on the Colomac deposit in 2018

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In 2019, 84 holes were drilled on the deposit for 32,835 m. The major objectives were to test zones 1.5 and 3.5 at depth, and to explore for shallower, higher-grade domains within a 2-km section of the Colomac Sill between Zone 3.5 and the southern part of Zone 2.0. The best results were: • C19-08 intersected 13.49 g/t Au over 56 m in Zone 1.5, including 53.57 g/t Au over 10 m, the highest gold intercept ever reported in core at Colomac. • C19-24 intersected 2.76 g/t Au over 56.25 m in Zone 2.0. • C19-18 intersected 1.33 g/t Au over 91.50 m in Zone 2.0, including 2.95 g/t Au over 24.75 m, 4.55 g/t Au over 14.25 m, and 6.44 g/t Au over 9.25 m. • C19-39B intersected 1.89 g/t Au over 110.50 m in Zone 2.0, including 2.37 g/t Au over 57 m and 5.16 g/t Au over 6.40 m. This intersection extended the depth of the mineralization by 175 m to reach a vertical depth of 700 m. The 2019 results support the continuity of mineralization throughout the deposit. Zones were extended at depth and observations suggest that the favourable brittle host quartz diorite in the Colomac sill widens at depth. Although this had previously been noted during the 2017 and 2018 drilling campaigns, the extensive drilling in 2019 confirmed that the quartz diorite was not only present in zones 1.5 and 2.0 but also in Zones 2.5 and 3.0. For example: • In Zone 3.0, holes C19-25, -25B and -25C show the widening of the quartz diorite at depth from a true width of 12 m in C19-42 to a true width of 45 m in C19-42B, 160 m below. • In Zone 1.5, C19-42 and C19-42B show the widening of the quartz diorite at depth from a true width of 35 m in C19-42 to a true width of 110 m in C19-42B, 250 m below. Figure 10-2 illustrates the distribution of holes drilled on the Colomac deposit during the 2019 campaign.

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From: Nighthawk, 2020. Figure 10-2 – Drilling on the Colomac deposit in 2019

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10.5.2 Grizzly Bear deposit The 2018 drilling campaign on the Grizzly Bear deposit focused on the expansion potential at depth and along strike, beyond the known historical shallow intersections. Eleven (11) holes were drilled for 2,367 m. A drill hole location map is presented in Figure 10-3. Ten (10) holes intersected gold mineralization, extending the depth of the known deposit to 200 m. The highlights included: • GB18-02 intersected 4.04 g/t Au over 6.25 m, including 7.78 g/t Au over 2.50 m and 9.06 g/t Au over 1.50 m. • GB18-02B intersected 2.00 g/t Au over 17.25 m, including 5.13 g/t Au over 4.50 m. • GB18-03 intersected 1.98 g/t Au over 16.00 m, including 3.15 g/t Au over 8.50 m and 4.75 g/t Au over 3.50 m. The Grizzly Bear deposit remains open at depth and laterally.

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From: Nighthawk, 2018. Note: Holes drilled in 2017 are also show in the figure Figure 10-3 – Drilling on the Grizzly Bear deposit in 2018

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10.5.3 Goldcrest deposit In 2019, seven (7) holes were drilled on the Goldcrest Sill for a total of 2,193 m. Drill hole locations are presented in From: Nighthawk, 2020.

Figure 10-4. The major objective was to test unexplored gaps along the main Goldcrest Sill, both along strike and at depth.

Five (5) holes intercepted mineralization and confirmed zone continuity by filling in gaps in the drill coverage. The best results were from G19-05, which intersected 2.00 g/t Au over 68.50 m (8 m true width), including 5.47 g/t Au over 15.5 m. This subvertical hole was drilled down the sill and intersected 130 m (20 m true width) of relatively continuous downhole mineralization to a vertical depth of 153 m, where it remains open. Hole G19-02 is the deepest hole drilled at Goldcrest. The aim was to explore the sill’s depth potential. It intersected nine (9) separate stacked mineralized lenses distributed among alternating horizontal bands of quartz gabbro and quartz diorite over its downhole length of 501 m. This type of layering has not been documented elsewhere within the sill. The highlight from G19-02 was a deep intercept of 6.95 g/t Au over 7.75 m (2 m true width), including 15.83 g/t Au over 3.25 m at a 425 m vertical depth.

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From: Nighthawk, 2020. Figure 10-4 – Drilling on the Goldcrest deposit in 2019

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10.5.4 Damoti Project In 2018, 17 holes (5,140 m) were drilled on the Damoti Property to test gaps in the drill spacing and to explore several new geological targets within the Horseshoe and Red Mountain synclines. Nine (9) holes successfully filled in gaps and extended mineralized zones in both areas, intersecting additional near-surface and deeper mineralization, and outlining at least one new discovery at Red Mountain that remains open in several directions. The highlights were: • D18-02 intersected 10.12 g/t Au over 6.95 m and 8.97 g/t Au over 2.50 m (Horseshoe Zone). • D18-07B intersected 6.91 g/t Au over 14.75 m and 2.61 g/t Au over 9.50 m (Horseshoe Zone). • D18-06B intersected 3.31 g/t Au over 4.25 m and 2.46 g/t Au over 5.25 m (Red Mountain Zone). Hole D18-01 was drilled 40 m south of the Horseshoe Syncline fold nose to look for the presence of hypothetical shear hosted mineralization emanating outward from the deposit’s high-grade core. The hole encountered several zones with anomalous assays around a downhole depth of 100 m, placing them directly south of the high-grade Horseshoe zone. D18-03 and 03B were drilled 100 m below the southern fold nose of the Horseshoe Syncline to test whether the host stratigraphy repeats at depth. Although mineralization was encountered, the holes did not intersect grades typical of the overlying deposit. D18-08 and D18-10 were drilled 450 m north of the main body of Horseshoe zone to test an undrilled area in the central portion of the fold where two converging magnetic-highs were located. The holes intersected their intended targets but did not encounter significant mineralization. Figure 10-5 illustrates the distribution of holes drilled on the Damoti Project during the 2018 campaign.

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From: Nighthawk, 2020. Figure 10-5 – Drilling on the Damoti Project in 2018

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10.5.5 Treasure Island Project In 2018, 16 holes (4,035 m) were drilled on the Treasure Island Project. Drill hole locations are presented in Figure 10-6. All sixteen (16) holes intersected mineralization, with visible gold reported in 14 of them. The highlights were:

• T18-04B: 3.31 g/t Au over 46.25 m, including 14.20 g/t Au over 7.75 m. • T18-06B: 4.45 g/t Au over 26.95 m, including 25.95 g/t Au over 4.2 m. • T18-03B: 7.37 g/t Au over 18.5 m, including 16.14 g/t Au over 8 m. The new intersects suggest the existence of additional subvertical stacked mineralized zones near surface, including a number of high-grade zones, as well as the potential for expanding the known zones.

From: Nighthawk, 2018. Figure 10-6 – Drilling on the Treasure Island Project in 2018

In 2019, 19 holes were drilled on the Treasure Island Project for 5,816 m. The main objectives were to follow up on the results of the 2018 program by testing the lateral extensions along strike, testing new areas between the Main and East Zones, and exploring to greater depths.

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All 19 holes encountered gold mineralization. Holes T19-01, T19-01B, T19-03 and T19- 04 effectively extended the western and eastern boundary of the Main Zone by intersecting mineralization down to a vertical depth of 200 m. T19-02 and T19-02B explored a gap in drilling within the western section of the Main Zone. Both drill holes encountered mineralization and extended stacked zones from a vertical depth of 80 m to 130 m on this section. T19-05-05B, T19-06 and T19-06B were designed to explore the region separating the Main Zone and East Zone, an area that had never been drilled. Both holes returned gold values. The remaining 2019 holes expanded the eastern extension of the East Zone and tested gaps in the drilling coverage and the depth extension of the Main Zone. The highlights were: • T19-11 intersected 8.51 g/t over 12.7 m, including 14.06 g/t Au over 7.3 m. • T19-02 intersected 10.08 g/t Au over 6.5 m, including 15.94 gpt Au over 4 m, and a deeper intercept of 1.27 g/t Au over 22.4 m, including 3.04 g/t Au over 6 m. • T19-01B intersected 1.41 g/t Au over 27.25 m, including 4.21 g/t Au over 3.5 m and a deeper intercept of 10.20 g/t Au over 6.50 m, including 16.38 g/t Au over 3.75 m. To date, drilling has defined a broad envelope of mineralization up to 200 m wide that extends over 750 m in length, encompassing both the Main Zone and the East Zone. The mineralized envelope remains open in all directions. Figure 10-7 shows the distribution of holes on the Treasure Island Project during the 2019 drilling campaign.

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From: Nighthawk, 2020. Figure 10-7 – Drilling on the Treasure Island Project in 2019

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10.5.6 Leta Arm Project Thirty-three (33) holes were drilled on the Leta Arm Project for 7,683 m, comprising 11 holes (2,513 m) on the North Inca deposit, 14 holes (3,446 m) on the Diversified deposit, 6 holes (1,294 m) on the #3 showing and 2 holes (429 m) on the Lexindin showing. The geological modelling of the four (4) Leta Arm prospects defined a steep northern plunge for the mineralization. The main focus was to test the geological model, the zone extensions, and to follow-up on high-grade intersects encountered during the issuer’s 2011 drilling campaign. Nine (9) holes were drilled at North Inca to test the East Zone, and two (2) holes to test the West Zone (Figure 10-8).

All holes intersected mineralization, with visible gold reported in eight (8) of them, highlighted by NI18-03B that returned 2.68 g/t Au over 25.5 m, including 6.60 g/t Au over 4.6 m, and NI18-02B with 4.49 g/t Au over 9.25 m, including 10.45 g/t Au over 2.25 m. NI18-05 was the deepest hole of the program, intersecting the modelled mineralization 120 m below surface and returning 3.26 g/t Au over 11.25 m, including 8.35 g/t Au over 2.25 m. Results from the North Inca holes have helped validate the geological model and resulted in the extension of the East Zone for an additional 100 m to the south, where it remains open.

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From: Nighthawk, 2018. Figure 10-8 – Drilling on the North Inca deposit (Leta Arm Project) in 2018

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Other highlights were: • DV18-06 on the Diversified deposit intersected 3.50 g/t Au over 14.1 m (7 m true width), including 18.50 g/t Au over 2.35 m. This hole tracked the Main Zone mineralization down to a vertical depth of 190 m. • DV18-07 intersected 3.86 g/t Au over 11.75 m (9.5 m true width), including 8.07 g/t Au over 4.25 m. This intercept confirmed the modelled plunge of the Main Zone at depth and its continuity. • DV18-08 intersected 5.81 g/t Au over 17.5 m, including 18.12 g/t Au over 4.75 m. This intersect represents a new discovery at Diversified that opened the deposit to the north. • DV318-02B intersected 2.67 g/t Au over 10 m, including 6.09 g/t Au over 3 m. This intersect represents a new discovery 40 m below surface in the #3 showing area, south of the Diversified deposit. • LX18-01B in the Lexindin showing area, intersected 1.20 g/t Au over 21.8 m. This intercept represents a new discovery located 120 m below surface and 40 m east of the Lexindin model.

10.5.7 Swamp Project Two holes (S18-01 and S18-01B) were drilled to test beneath a showing with a corresponding IP chargeability high. Both holes intersected mineralization 60 to 80 m below the surface mineralization and centred on the IP anomaly. The host rock is a carbonatized mafic volcanic rock with minor sulphides. Two occurrences of visible gold were noted in hole C18-01B with the best intercept returning 3.33 g/t over 3.25 m.

Hole S18-02 was drilled below a showing where a 2012 grab sample assayed 43.60 g/t. It intersected an area of significant quartz veining at 135 m depth with trace gold.

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11. SAMPLE PREPARATION, ANALYSES AND SECURITY

This item describes the issuer’s sample preparation, analysis and security procedures for diamond drilling performed on the Project from March 9, 2018, to January 23, 2020 (the “2018-2019 Drilling Program”). The issuer’s geology team provided the information discussed below. InnovExplo reviewed the QA/QC procedures and the results for those programs.

11.1 Core Handling, Sampling and Security The drill core is boxed and sealed at the drill rigs and delivered daily by road or helicopter to the logging facility where a technician takes over the core handling. Drill core is logged and sampled by experienced geologists or by a geologist-in-training under the supervision of a qualified geologist. A geologist marks the samples by placing a unique ID tag at the end of each core sample interval. Core sample lengths vary from 0.5 to 1.0 m, and sample contacts respect lithological contacts and/or changes in the appearance of mineralization or alteration (type and/or strength). The technician saws each marked sample in half. One half of the core is placed in a plastic bag along with a detached portion of the unique bar-coded sample tag, and the other half of the core is returned to the core box with the remaining tag portion stapled in place. The core boxes are stockpiled or stored in outdoor core racks for future reference. Individual sample bags are placed in security-sealed rice bags along with the list of samples for delivery to the assay laboratory. QA/QC samples are prepared and bagged ahead of time by Nighthawk personnel and added to the sample batch at the core shack according to the geologist’s instructions. Samples remained under the supervision of Nighthawk personnel at the drill camp until transferred to the air charter company for air transport and Discovery Mining Services Ltd or for ground delivery to the ALS Minerals (“ALS”) laboratory in Yellowknife, NWT. The Yellowknife laboratory completes sample preparation operations and employs bar coding and scanning technologies that provide complete chain of custody records for every sample. Prepared samples are delivered via bonded commercial couriers to the ALS laboratory in Vancouver, British Columbia, for analysis.

11.2 Laboratory Accreditation and Certification The International Organization for Standardization (“ISO”) and the International Electrotechnical Commission (“IEC”) form the specialized system for worldwide standardization. ISO/IEC 17025 General Requirements for the Competence of Testing and Calibration Laboratories sets out the criteria for laboratories wishing to demonstrate that they are technically competent, operating an effective quality system, and able to generate technically valid calibration and test results. The standard forms the basis for the accreditation of laboratory competence by accreditation bodies. ISO 9001 applies to management support, procedures, internal audits and corrective actions. It provides a framework for existing quality functions and procedures. ALS laboratories (in Yellowknife and Vancouver) received ISO/IEC 17025 accreditation through the Standards Council of Canada (“SCC”). ALS laboratories are independent of the issuer and have no interests in the Property.

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11.3 Laboratory Preparation and Assays During the 2018-2019 Drilling Program, samples were analyzed for gold at the ALS laboratory in Vancouver. Procedures used were fire assay (“FA”) with atomic absorption spectroscopy (“AA”) and FA by gravimetric finish when samples returned values exceeding 3 g/t Au. In addition, all samples within the main mineralized horizons and those samples with visible gold or significant sulphides were submitted to a metallic screen procedure for more accuracy. The methodology is described as follows: ALS Minerals laboratory

• Samples are sorted, bar-coded and logged into the laboratory tracking program. • Samples are dried, and crushed to 70% passing a 2 mm screen. • Following Nighthawk’s instructions, a 1,000 g split (regular samples) or the entire sample (i.e., for samples sent for metallic screen analysis; “MS-FA”) is pulverized using a matching bowl and saucer pulverizer to 85% passing a 75 μm screen. • Regular samples are analyzed for gold by FA with AA finish on a 30 g charge aliquot pulp (Au-AA25, reporting range of 0.01 to 100 g/t). • When assay results (regular samples) are higher than 3 g/t Au, samples are re-assayed by FA with a gravimetric finish method (FAGRAV) on a 30 g charge aliquot (AuGRA21, reporting range of 0.05 to 1,000 g/t). • For samples submited to MS-FA (AU-SCR21, reporting range of 0.05 g/t and upper limit of 1,000 g/t Au), the pulp is screened through a 100 μm screen. The >100 μm material is retained and analyzed in its entirety by the FAGRAV and reported as the Au(+) fraction. The <100 μm material is homogenized and two 30 g subsamples are analyzed by the FA-AA method. The average of the two FA-AA results is taken and reported as the Au(-) fraction result. The gold values for both the Au(+) and Au(-) fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample. • Assay results are provided in Excel spreadsheets and the official certificate (sealed and signed) as a PDF. • The pulverized pulp is placed in kraft sample bags, and the un-pulverized portions returned to their original sample bags. • The remainder of the crushed samples (the rejects) are discarded after 45 days, while the pulps are discarded after 90 days.

11.4 Quality Assurance and Quality Control (QA/QC) The issuer’s quality assurance and quality control (“QA/QC”) program for drill core includes the insertion of blanks and standards in the sample stream of core samples. About 10% of the samples were control samples in the sampling and assaying process. One (1) standard and one (1) blank sample of barren rock were add to each group of 20

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samples as an analytical check for the laboratory batches. In addition, the issuer’s QA/QC includes a pulp duplicates program. 10% of the sample rejects were sent to SGS laboratory in Cochrane, Ontario, for secondary laboratory check assays. Nighthawk geologists were responsible for the QA/QC and database compilation. Upon receiving the analytical results, the geologists extracted the results for blanks and standards to compare against the expected values. If QA/QC acceptability was achieved for the analytical batch, the data were entered into the project database; if not, the batch was retested. The discussion below details the results of the blanks and standards used in the issuer’s QA/QC program.

11.4.1 Certified reference materials (standards) Accuracy is monitored by inserting certified reference materials (CRMs) at a ratio of one (1) for every 20 samples (1:20). The standards were manufactured by Ore Research & Exploration (OREAS), Melbourne, Australia and supplied by Analytical Solutions Ltd, Toronto, ON. The definition of a QC failure is when the assay result for a standard fall outside three standard deviations (“3SD”). Gross outliers are excluded from the standard deviation calculation. During the 2018-2019 Drilling Program, 15 different CRMs ranging from 0.34 g/t Au to 12.11 g/t Au were used. Of the 1,199 CRMs inserted, 27 returned results outside 3SD. From those 27 fails, five (5) were identified as gross outliers and the issuer took actions to explain the cause of the abnormal values. Four (4) were cases of the incorrect standard recorded in the database and one (1) was a typo error from the laboratory. The database was corrected, and the gross outliers were removed from QA statistics when they were identified as QC failures. The overall success rate is 98.6% (Table 11-1). Overall, outliers did not show a persistent analytical bias (both below and above the 3SD limit). They are close to the 3SD limit, and/or they appear to be isolated errors because other standards and blanks processed from the same batches passed. Consequently, no batch re-runs were performed. Figure 11-1 shows an example of a control chart for the standard OREAS 210 assayed by ALS. A similar control chart was prepared for each CRM to visualize the analytical concentration value over time.

Table 11-1 – Results of standards used during the 2018-2019 Drilling Program on the Colomac Project

CRM Percent No. of Average Accuracy Precision Gross CRM value (g/t Outliers passing assays (g/t Au) (%) (%) outliers Au) QC

OREAS 0.34 9 0.34 1.3 2.3 0 0 100.0 200 OREAS 0.87 48 0.87 0.4 2.1 0 0 100.0 203

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CRM Percent No. of Average Accuracy Precision Gross CRM value (g/t Outliers passing assays (g/t Au) (%) (%) outliers Au) QC

OREAS 1.24 13 1.24 -0.1 3 0 0 100.0 205 OREAS 9.25 28 9.44 2.1 2.1 1 0 96.4 208 OREAS 5.49 171 5.48 -0.1 2.3 5 0 97.1 210 OREAS 3.03 141 3.01 -0.6 2.5 4 0 97.2 214 OREAS 3.54 43 3.52 -0.5 2 0 0 100.0 215 OREAS 6.66 42 6.7 0.9 1.7 0 0 100.0 216 OREAS 0.53 163 0.54 1.5 2.5 2 0 98.8 218 OREAS 0.87 95 0.86 -1.1 2.8 3 0 96.8 220 OREAS 1.22 168 1.23 0.7 2.1 1 0 99.4 222 OREAS 1.78 30 1.78 0.1 1.8 0 0 100.0 223 OREAS 8.57 98 8.66 1.1 2.6 2 0 98.0 228b OREAS 12.11 50 12.03 -0.7 2.4 1 0 98.0 229

OREAS 11.95 100 11.97 0.2 1.8 3 0 97.0 229b

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Figure 11-1 – Control chart for standard OREAS 210 assayed by ALS

Overall, the results exhibit a slight positive bias in terms of accuracy with an average of +0.34% for representative standards. The precision for most CRMs is around 2.3%. Both parameters meet standard industry criteria. InnovExplo is of the opinion that the QC results for the standards used during Nighthawk’s 2018-2019 Drilling Program are reliable and valid.

11.4.2 Blank samples Contamination is monitored by the routine insertion of a barren sample (blank) which goes through the same sample preparation and analytical procedures as the core samples. A total of 1,104 blanks were inserted in the batches from the 2018-2019 Drilling Program. The blanks were derived from barren crushed diabase obtained during previous drill programs on the Colomac Project. Each sample of the blank material was cut-split with a diamond core saw to appear similar to the regular core being submitted, placed into a plastic sample bag and given a sequential sample identification number. A general guideline for success during a contamination QC program is a rate of 90% of blank assay results not exceeding the acceptance limits of three times (3x) the detection limit. For the 2018-2019 Drilling Program, the detection limit was 0.01 g/t for the regular FA-AA analysis method and 0.05 g/t for the MS-FA analysis method. A total of 11 samples (1.1%) returned grades higher than 3x the detection limit (Table 11-2, Figure 11-2 and Figure 11-3). InnovExplo is of the opinion that the QC results for the blanks used during Nighthawk’s 2018-2019 Drilling Program are reliable and valid.

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Table 11-2 – Results of blanks used in the Colomac Project 2018-2019 Drilling Program

Acceptance Quantity Percent Year Method Quantity failed limit (ppm) inserted passing QC FA-AA (Au-AA25) 0.03 209 0 100% 2018-2019 MS-FA (Au-SCR21) 0.15 1,032 11 98.9%

Figure 11-2 – Time series plot for blank samples assayed by ALS (SCR method)

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Figure 11-3 – Time series plot for blank samples assayed by ALS (AA method)

11.4.3 Duplicates

11.4.3.1 Field duplicates The 2018-2019 Drilling Program included quarter-core duplicate samples to assess the presence of a “nugget effect” or heterogeneity of gold mineralization in drill core samples. The issuer inserted 1,178 quarter-core duplicates into the sample stream at a rate of one (1) for every twenty (20) samples. The data were filtered to remove any values within an order of magnitude of the lower limit of detection for the analysis method (i.e., 0.1 g/t Au), as these data are inherently imprecise. The filtering resulted in the removal of 432 samples from the dataset. The difference between the original analysis and the quarter-core duplicate analysis is presented in the scatter plots in Figure 11-4. The plot shows a moderate precision with a R2=0.76, but also a low accuracy monitored by the linear regression line (below the 20% tolerance limit). This low to moderate repeatability shows that gold distribution in the core is heterogenous and can be explained by the nugget effect, particularly for high- grade results.

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Figure 11-4 – Linear graph comparing original and field duplicate samples above 0.1 g/t for the Colomac Project 2018-2019 Drilling Program

11.4.3.2 Check assay At Nighthawk's request, ALS collected a pre-selected portion of pulp from samples and shipped them to Nighthawk’s Sudbury office for submittal to a second independent laboratory for comparison purposes (approximately 10% of the 2018–2019 Drilling Program samples). Nighthawk’s personnel hand delivered these pulps to SGS Canada Inc. (“SGS”) in Garson, Ontario, for delivery to their facility in Cochrane, Ontario. SGS analyzed the check pulps for gold by fire assay with ICP-OES finish on a 30 g charge of pulp (FAI323). This method has a detection limit of 0.005 g/t Au and an upper limit of 100 g/t Au. Of the 1,269 samples selected during the 2018-2019 Drilling Program, 1,019 were pulps originating from ALS’ MS-FA method in which the entire sample is pulverized and passed through a stainless-steel screen (Au-SCR21). The coarse fraction retained on the screen is assayed in its entirety. A subsample of the fine fraction that passed through the screen is therefore sent for repeat analysis at SGS. Consequently, only the ALS results for the fine fraction were compared to the SGS results. The other 250 samples were pulps from samples analyzed by ALS directly by FA methods (FA-AA and FAGRAV). The reproducibility of ALS’ analyses is good for pulp duplicates with a R2=0.98 for the MS-FA analytical method and R2=0.99 for the regular FA methods. ALS assays show a

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slight bias compared to SGS, with an average variance of -13% for the MS-FA method and +17% for the regular FA methods. Scatter plots of the original ALS analyses and SGS pulp duplicates are shown in Figure 11-5 for the MS-FA method and in Figure 11-6 for the FA methods.

Figure 11-5 – Linear graphs comparing original samples and pulp duplicate samples analyzed with the MS-FA method for the Colomac Project 2018-2019 Drilling Program

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Figure 11-6 – Linear graphs comparing original samples and pulp duplicate samples analyzed with the regular FA method for the Colomac Project 2018-2019 Drilling Program

11.5 Conclusion InnovExplo is of the opinion that the sample preparation, security, analysis and QA/QC protocols for the 2018-2019 Drilling Program followed generally accepted industry standards, and that the data is valid and of sufficient quality for a mineral resource estimation.

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12. DATA VERIFICATION

This item covers the data verification of the diamond drill hole databases supplied by the issuer (the “Nighthawk Databases”). The database close-out date for this Technical Report is January 23, 2020. InnovExplo’s data verification included visits to the Property, drill sites, outcrops and core logging facilities, as well as an independent review of the data for selected drill holes (surveyor certificates, assay certificates, QA/QC program and results, downhole surveys, lithologies, alteration and structures).

12.1 Nighthawk Databases The Nighthawk Databases contain a total of 1,584 holes (261,541 m) divided into four diamond drill hole databases:

• Colomac, 24 and 27 deposits: 838 holes • Damoti deposit: 499 holes • Goldcrest deposit: 170 holes • Grizzly Bear deposit: 77 holes. These databases include 1,243 historical holes (166,768 m) drilled before 2012, and 341 holes (94,773 m) drilled between 2012 and 2019.

Since the 2018 MRE (Trinder et al., 2018), 163 new holes were drilled for a total of 55,219 m (128 on the Colomac deposit, 17 on the Damoti deposit, 7 on the Goldcrest deposit, and 11 on the Grizzly Bear deposit.

12.1.1 Drill hole coordinates During the 2018-2019 Drilling Program, drill hole collars were implanted by a land surveyor from Sub-Arctic Geomatics Ltd, of Yellowknife, using a GPS base station. Several surveying campaigns were conducted on the completed drill holes from March 1 to 6, March 28 to April 7, May 11 to 12, and June 15 to 29 in 2018, and from March 5 to 8, April 9 to 13, May 24 to 25, June 12 to 16, August 30 to 31, and October 1 to 4 in 2019. All holes from the 2018-2019 Drilling Program have been surveyed. The author ran a 5% check on drill hole location accuracy. InnovExplo personnel confirmed the coordinates of the selected surface holes using a handheld GPS (Figure 12-1). During the database validation process, an offset was observed between historical holes (drilled before 2012) and the topographic surface from the airborne LIDAR survey of 2017. This vertical offset was 5 m on average. To correct the problem, 739 historical hole collars (from a total of 1,085 holes in the databases) located in the Colomac Project area were projected on the topographic surface. For the Damoti Project, the same observation was made, but historical hole collars were not projected. The author recommends proceeding with a check survey campaign of some historical holes and a survey of the mine portal before applying corrections.

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The collar locations in the Nighthawk Databases are considered adequate and reliable.

A) Hole C-18-15; B) Historical hole D04-355 Figure 12-1– Examples of onsite collar location verifications

12.1.2 Downhole survey Downhole surveys were conducted on the majority of the holes. The most recent drill holes (2012-2019) had single-shot measurements taken every 30 m with a Reflex EZ- SHOTTM tool. For drilling programs before 2012, a single-shot measurement was generally taken at the end of the hole for short holes, or every 30 m or 70-80 m for long holes. During the 2018-2019 Drilling Program, 71 holes were oriented using the Reflex Act IIITM system. The survey information was verified for 5% of the databases. Any discrepancies found were corrected and incorporated into the current resource database.

12.1.3 Assays The verified holes represent 5% of the Nighthawk Databases. InnovExplo was granted access to the assay certificates for all requested holes drilled since 2012. The certificates were obtained directly from the laboratory. The assays in the database were compared to the original laboratory certificates. For historical holes performed before 2012, no certificates were available, so the data was validated against the paper logs. Minor errors of the type typically encountered in a project database were found and corrected. A comparison of historical assays and results obtained since 2012 show similarities in the geographical distribution of gold values. InnovExplo considers the Nighthawk Databases to be valid and reliable.

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12.2 Independent Resampling InnovExplo selected a series of intervals from the 2018-2019 Drilling Program for resampling. During the site visit, the QPs selected quarter-splits of selected core intervals to be sawed by Nighthawk personnel. InnovExplo bagged the samples and transported them to ALS for analysis. The resampling results indicate a good reproducibility of the original sample assay results. Of the 15 samples, only four (4) have major differences above 2 g/t. Those differences may be explained by the gold nugget effects visually observed in the drill core. InnovExplo believes the field duplicate results from the independent resampling program are reliable and valid for this type of gold project. Table 12-1 shows the resampling results for the 15 samples.

Table 12-1 – Independent resampling

Original (Nighthawk) Field Duplicate (InnovExplo) Difference Hole ID Au Au Au Sample Number Sample Number (g/t) (g/t) (g/t) D09-380 H549241 10.3 W035901 8.46 -1.84 D09-384 H549761 5.47 W035902 5.98 0.51 D09-380 H549259 3.65 W035903 4.47 0.82 D09-380 H549260 27.2 W035904 25.3 -1.9 D04-361 4773 23.02 W035906 15.35 -7.67 C17-28 V961356 6.31 W035907 4.42 -1.89 C17-28 V961357 1.79 W035908 1.01 -0.78 C17-02C V956370 18.5 W035909 6.1 -12.4 C17-02C V956371 2.29 W035910 0.34 -1.95 C18-09 X621816 4.31 W035912 14.95 10.64 C18-09 X621817 1.68 W035913 1.84 0.16 C18-04 V952602 1.04 W035914 1.63 0.59 C18-04 V952603 8.13 W035915 6.22 -1.91 D18-02B X627604 9.16 W035916 10.75 1.59 D18-02B X627605 17 W035917 5.41 -11.59

12.3 Logging, Sampling and Assaying Procedures InnovExplo personnel reviewed the entire path taken by the drill core, from the drill rig to the logging and sampling facility, and it was deemed adequate. InnovExplo personnel examined several mineralized core sections while visiting the core storage facility. All core boxes were properly labelled and stored outside. Sample tags are still present in the boxes, and it was possible to validate sample numbers and confirm the presence of mineralization in half-core reference samples from the mineralized zones (Figure 12-2).

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The Nighthawk Databases were verified for consistency of the information entered into MX Deposit software by the issuer’s geologists. Geological logging was completed using standard logging codes for lithologies, alteration, structural elements, mineralization and brief descriptive columns. The issuer’s QA/QC program includes standards, duplicates and blanks. InnovExplo is of the opinion that the protocols have been followed and are adequate.

A) Outdoor core storage; B) Sawing facility; C) Sample tag stapled in core box; D) Proper labelling of the drill core boxes with metallic tags; E) Selected core boxes lined up for core review; F) Standards; G) Security seal on sample bag. Figure 12-2 – Photographs taken during the drill core review

12.4 Conclusion Overall, InnovExplo is of the opinion that the data verification process demonstrates the validity of the data and protocols for the Project. InnovExplo considers the Nighthawk Databases to be valid and of sufficient quality to be used for the mineral resource estimate herein.

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13. MINERAL PROCESSING AND METALLURGICAL TESTING

Between 2016 and 2020, four metallurgical studies were conducted on 12 bulk samples at Bureau Veritas in Richmond, British Columbia, and audited by Starkey & Associates Inc. (“S&A”), in Oakville, Ontario. The information below is a summary of the respective reports (Starkey & Associates Inc., 2017; Starkey & Associates Inc.; 2018, Starkey & Associates Inc., 2019; Starkey & Associates Inc., 2020). Table 13-1 presents details about the samples studied.

Table 13-1– Indin Lake Property samples used for metallurgical testing

Project sample Weight Project year Location Comments number (kg) C164-1 Colomac Sill North Zone 1.5 Lower-grade material 2016 C164-2 Colomac sill South Zone 3.0 and 3.5 119.5 from drill core C164-3 Colomac Sill Deep Colomac Sill High-grade material 2017 C173-4 70 Zone 1.5 from drill core Colomac Sill C185-1 70 Zones 1.0 Colomac Sill C185-2 70 2018 Zones 2.0/2.5 From drill core Colomac Sill C185-3 70 Zones 3.0/3.5 C185-4 Goldcrest North 70 C187-1 70

C187-2 Colomac Sill 70 2019 From drill core C187-3 Zones 2.0, 2.5 and 3.0 70 C187-4 70

The locations of the sampled drill holes for each of the metallurgical studies are shown in Figure 13-1.

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From: Nighthawk, 2020. Figure 13-1 – Map of the locations of the sampled drill holes for each of the metallurgical studies

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13.1 Testwork and results The samples were first assayed for gold and tested for grindability using the SAGDesign methodology. Following the grindability test work, additional metallurgical testing was performed to determine the ore’s amenability to various gold recovery processes (cyanide leaching, flotation and gravity recovery of gold at a variety of particle size distributions). For the 2016 metallurgical testwork, the three samples (C164-1, C164-2 and C164-3) were blended in a single master composite sample.

13.1.1 Gold head assay testing The head grade of the assayed samples varied between the fire assay and screened metallic assays due to the nugget effect of gold in the deposit (Table 13-2).

Table 13-2 – Head assay results

Grade (Au g/t) Project sample Project year Screen number Fire Assay Metallics Average Analysis C164-1 1.16 1.32 NA 1.24 2016 C164-2 0.35 0.90 NA 0.63 C164-3 0.65 1.69 NA 1.17 2017 C173-4 2.83 7.16 NA 4.99 C185-1 1.67 2.28 3.77 2.57 C185-2 2.15 2.05 2.29 2.16 2018 C185-3 2.38 2.41 2.81 2.53 C185-4 1.34 2.29 1.48 1.71 C187-1 0.39 0.33 0.50 0.41 C187-2 0.67 0.84 0.71 0.74 2019 C187-3 0.58 0.52 0.40 0.50 C187-4 0.47 0.60 0.44 0.50

13.1.2 SAGDesign testing Grindability testing was conducted on each sample to provide information on its resistance to various forms of grinding. SAGDesign testing measures the macro and micro ore hardness by means of a SAG mill test and a standard Bond Ball Mill Work Index test on SAG ground ore. All samples exhibit a consistent high hardness and show minor variability. Based on the SAGDesign test results (Table 13-3), it was recommended that the 80th percentile of ore hardness variability be used for the preliminary design of the grinding circuit (SAG and ball mills). Design hardness for the SAG mill to grind the ore from F80 (152 mm) to T80 (1.7 mm) is therefore 13.6 kWh/t, while the Bond Ball Mill Work Index on SAG ground rock from SAGDesign testing is 14.7 kWh/t.

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Table 13-3 – SAGDesign ore hardness testwork results

Ball mill Project sample SAG grindability Project year SG Solids grindability number (kWh/t) (kWh/t) C164-1 2.76 12.32 14.28 2016 C164-2 2.73 13.52 14.38 C164-3 2.70 14.07 14.10 2017 C173-4 2.67 12.69 14.18 C185-1 2.70 13.49 15.43 C185-2 2.62 11.74 14.93 2018 C185-3 2.71 11.48 13.90 C185-4 2.61 16.45 14.88 C187-1 2.69 12.00 14.44 C187-2 2.74 12.84 14.22 2019 C187-3 2.67 11.70 14.23 C187-4 2.75 12.59 14.61 Average - Overall 2.69 12.91 14.55

13.1.3 Gravity concentration The gravity separation test determines the amenability of the sample to gravity at three different grinds size (75, 106 and 150 μm). As shown in Table 13-4, all samples responded well to gravity concentration in the tested grind size range. On average, 70.1% gold reported to gravity rougher concentrates in 3.57% of feed mass. After panning, the cleaned gravity concentrates recovered 35.55% gold on average into 0.09% of feed mass.

Table 13-4 – Average results of three grinds from gravity concentration tests

Gravity Au recovery (%) Mass (%) Gravity Project sample rougher tail number Pan Rougher Pan Rougher concentrate concentrate concentrate concentrate grade (g/t) C164-master 34.7 71.93 0.09 3.8 0.42 composite C173-4 45.9 75.74 0.12 3.3 1.27 C185-1 45.2 72 0.08 2.9 0.74 C185-2 41.6 73.28 0.07 3.5 0.68 C185-3 24.0 58.53 0.09 4.0 1.13 C185-4 51.5 78.06 0.07 3.2 0.39 C187-1 48.2 82.67 0.08 3.7 0.12 C187-2 28.4 58.04 0.09 3.9 0.47 C187-3 24.7 76.15 0.09 3.8 0.14

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Gravity Au recovery (%) Mass (%) Gravity Project sample rougher tail number Pan Rougher Pan Rougher concentrate concentrate concentrate concentrate grade (g/t) C187-4 21.3 54.49 0.08 3.6 0.34 Average 36.55 70.09 0.09 3.57 0.57

Size effects on gold recovery are shown in Figure 13-2. In general, finer grinding improved gold recoveries, and led to lower tailings grades.

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Figure 13-2 – Gravity concentration performances at three grinds

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13.1.4 Cyanidation Bottle roll cyanidation was conducted on both 1.27 mm crushed composites to evaluate the heap leach potentials of the samples, and 150 μm ground samples to investigate their baseline responses to the cyanidation process. Column leach tests were conducted on samples crushed to minus 1.27 mm to examine the potential for heap leaching.

13.1.4.1 Heap leach Ten (10) bottle roll leach tests were conducted on 1.27 mm crushed samples. The leach reaction was carried out in 1 g/L NaCN at 50% solids for ten (10) days. Gold was leached out fast in the first two (2) days, but the rate decreases sharply over time. Higher recoveries may be possible through optimization of reagent dosage and particle size. Based on these preliminary tests results, heap leaching does not appear to be a promising primary flowsheet option for the Colomac mineralized material, with the exception of the low-grade samples – the 2016 Master Composite and C187-3 (81.8% and 72.4% gold recovery respectively) – as shown in Table 13-5.

13.1.4.2 Baseline whole ore cyanidation The 72 h baseline cyanidation tests were conducted on 150 μm ground samples at 40% solids in 1.0 g/L NaCN. The findings of the baseline cyanide leaching tests are summarized in Table 13-5. The preliminary results show that all samples were readily extractable with a simple cyanidation process. Most leaching activities occurred at the first 24 hours and slowed down afterwards.

13.1.4.3 Column cyanide leach Column leach tests were conducted on five (5) samples (4 from 2018 and 1 high-grade sample from 2017) crushed to minus 1.27 mm to examine the potential for heap leaching and to confirm gold recoveries relative to time by the percolation of cyanide leach solution through crushed ore. The tests were conducted in a 15.25 cm diameter column with a height of 1.2 m. The column leaching was carried out using Lime (5 kg/t) to assist with the formation of agglomerates. Based on the preliminary test results, the 2018 samples showed higher gold extraction than the previous 2017 high-grade sample as shown in Table 13-5. The test results for the 2018 samples showed gold extractions varying from 46.1% to 61.1% in 107 days. Further cyanidation resulted in final gold extractions varying from 54.9% to 69.7% in 200- plus days. For the high-grade sample from 2017, the test results showed gold recovery of 34.3% in 107 days.

13.1.5 Sulphide flotation Flotation tests were conducted on samples churched at three (3) grind sizes ranging from 75 to 150 μm to investigate the effect of grinding size on gold recovery. All samples responded well to the flotation process as shown in Table 13-5. On average, 92.96% of gold was recovered for a particle size of 75 µm, 92.81% of gold was recovered for a particle size of 106 µm and 88.65% of gold was recovered for a particle size of 150 µm.

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13.1.6 Gravity + Cyanidation A combination of gravity pre-concentration followed by cyanidation of gravity tailings was carried out at a target grind of 105 μm. Results from the gravity + cyanidation tests are summarized in Table 13-5. The findings of the gravity + cyanidation tests are summarized as follows: • 2019 Samples: 23.5% gold was recovered from gravity cleaner concentrates, and cyanide leaching of gravity tailing further extracted 71.5% of fine gold, resulted in a combined gravity+cyanidation gold recovery of 95.1%. • 2018 Samples: 31.5% gold was recovered from gravity cleaner concentrates, and cyanide leaching of gravity tailing further extracted 65.7% of fine gold, resulted in a combined gravity+cyanidation gold recovery of 97.2%. • 2017 High-grade Sample: 36.9% gold recovered from gravity cleaner concentrates, and cyanide leaching of gravity tailing further extracted 61.1% of fine gold, resulted in a combined gravity+cyanidation gold recovery of 98%. • 2016 Master Composite: 27.7% gold recovered from gravity cleaner concentrates, and cyanide leaching of gravity tailing further extracted 68.7% of fine gold, resulted in a combined gravity+cyanidation gold recovery of 96.4%. Leach kinetics were faster on the gravity tailings, achieving near maximum recovery in 20-30 hours, compared with 72 hours for the whole ore leach. This is partially due to the finer grind size used in these tests (106 μm for gravity and 150 μm for whole ore).

Table 13-5 – Comparison of gold recoveries for different process routes

Gold recovery (%) Project Column Heap Column sample cyanidation Whole ore Gravity + Flotation Gravity bottle cyanidation number 206-213 cyanidation Cyanidation roll 107 days days Particle 75 106 150 75 106 150 12700 12700 12700 150 106 size (µm) C164- Master 94.9 94.1 95.5 65.4 74.1 76.3 81.8 NA NA 96.4 96.5 Composite C173-4 94.6 93.5 90.7 77.6 74.7 74.9 57.5 34.3 NA 96.4 98.0 C185-1 94.9 94.9 92.8 76.6 75.4 64.0 31.5 45.6 57.4 97.1 98.0 C185-2 94.8 94.5 94.2 75.8 75.0 69.0 49.1 46.4 55.5 96.8 97.3 C185-3 92.1 88.6 84.8 63.3 58.7 53.6 47.1 46.1 54.9 96.7 96.3 C185-4 98.1 94.9 95.5 83.0 76.3 74.9 49.6 61.1 69.7 97.2 96.8 C187-1 90.0 92.8 84.2 72.5 84.1 91.4 42.6 In progress In progress 93.4 93.8 C187-2 88.2 88.8 85.8 82.2 39.0 52.9 22.0 In progress In progress 95.2 96.0 C187-3 95.7 93.4 87.4 74.9 78.7 74.8 72.4 In progress In progress 94.4 95.9 C187-4 86.3 82.6 75.6 53.6 59.0 50.9 47.7 In progress In progress 91.3 94.6

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13.2 Conclusion Testing to date has shown: • The Colomac Sill rock is amenable to all standard gold recovery technologies including, flotation, gravity separation, and heap leaching. • Minimal variation in rock hardness is noted for all test samples indicating a relatively homogeneous host rock. • Utilising a combination of gravity and cyanide leach recovery processes, testing has shown that gold recoveries for all samples tested to-date when ground to a size of 80% passing 106 µm, range from 96.3% to 98.0%, representing a significant increase in recovery over historical production results of 88.1% (1994 to 1997). • Current column leach tests on the four (4) 2018 samples posted gold recoveries that varied from 54.9% to 69.7% and averaging 59.4% for the 206 day run, representing an average increase of 9.6% in recoveries when the leach time was extended for an additional 3 months (~100 additional days). • Current bottle roll leach tests on the four (4) 2018 samples (minus 1.27 mm crushed material ran for 10 days) posted gold recoveries between 31.5% and 49.6% with an average gold recovery of 44.3%. Samples of lower-grade and higher-grade material collected in 2016 and 2017 returned recoveries of 81.8% and 57.5% respectively. • Cyanide heap leach results show considerable variability between testing methods and grade of material processed (recoveries between 31.5% up to 81.8% in all samples tested to date). These preliminary metallurgical results demonstrate that a normal SAG ball mill grinding circuit followed by a gravity-leach or whole ore cyanide leach circuit at a grind size of 150 μm, will be the best process options to consider for recovering gold from the Colomac deposit ore. Preliminary results show that extractions of gold by gravity + cyanidation and whole ore cyanidation methods were similar and averaged 97.1% and 96.8% respectively. All samples responded reasonably well to the flotation process. If flotation was to be used, a grind of 75 μm would be recommended. Flotation, however, is not recommended because the concentrate will still need to be leached and a second tailing stream will be discarded if flotation is used. As a result, the high recoveries achieved using direct cyanidation cannot be matched if flotation is added. Based on the findings of those test works, gold recoveries using heap leaching is not a promising primary option for the Colomac material. However, bottle roll heap leach testing of the Master Composite 2016 and C187-3 samples did produce interesting results (81.1% and 72.4%, respectively) but neither of these results have been confirmed by column testing. It should be noted that the Colomac test program is at a very early stage evaluation. It is reasonable to believe that further optimization should improve gold recovery in all

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process options. Once the preferred process option is defined, a comprehensive metallurgical study would be necessary to optimize process conditions.

14. MINERAL RESOURCE ESTIMATES

The Colomac Project Mineral Resource Estimate (the “2020 MRE”) was prepared by Marina Iund, P.Geo., and Carl Pelletier, P.Geo., using all available information. The mineral resources herein are not mineral reserves as they do not have demonstrated economic viability. The result of this study is individual mineral resource estimates for six deposits: Colomac, 24, 27, Goldcrest, Grizzly Bear and Damoti. The effective date of the 2020 MRE is July 28, 2020.

14.1 Methodology The resource area has five parts, corresponding to the six deposits covered by the 2020 MRE with deposit 24 and deposit 27 treated as one deposit (“24/27”) for the sake of the study: • Colomac: 5,900 m along strike and up to 950 m wide. Although resources are defined down to 1000 m, the bulk of the resource is located in the first 500 m from surface. • 24/27: 700 m along strike, up to 150 m wide and down to a vertical depth of 250 m below surface. • Goldcrest: 1950 m along strike, up to 150 m wide and down to a vertical depth of 600 m below surface. • Grizzly Bear: 800 m along strike, up to 150 m wide and down to a vertical depth of 300 m below surface. • Damoti: 500 m along strike, up to 400 m wide and down to a vertical depth of 300 m below surface. The model was prepared using LeapFrog Geo™ v.5.0 (“LeapFrog”) and GEOVIA GEMS v.6.8.2 (“GEMS”). LeapFrog was used to model the mineralized zones and fault wireframes. GEMS was used for the estimation, which consisted of 3D block modelling and grade interpolation. Statistical studies, capping and variography were completed using Snowden Supervisor v.8.9.0 (“Supervisor”) and Microsoft Excel. The main steps in the methodology were as follows: • Compile and validate the database for the diamond drill holes used in the mineral resource estimate. • 3D modelling of mineralized zones, lithologies and faults. • Drill hole intercepts and composite generation for each mineralized zone. • Basic statistics. • Geostatistical analysis including variography. • Block modelling and grade interpolation.

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• Block model validation. • Establish resource classification criteria and clipping areas to classify the mineral resources. • Assess the “reasonable prospect for economic extraction” and select the appropriate cut-off grades. • Generate a mineral resource statement.

14.2 Drill Hole Database The database close-out date is January 23, 2020, and the effective date of the estimate is July 28, 2020. Four (4) diamond drill hole databases cover the Project: • Colomac and 24/27 deposits: 838 validated surface holes. • Damoti deposit: 499 validated holes (464 from surface and 35 from underground). • Goldcrest deposit: 170 validated surface holes. • Grizzly Bear deposit: 77 validated surface holes. A subset of drill holes was used to generate the 2020 MRE resource database for each deposit (Table 14-1 and Table 14-2). All databases include assay results and lithological, alteration and structural descriptions taken from drill core logs. Oriented core data have been available since 2016. In addition to the tables of raw data, each database includes several tables of calculated drill hole composites and wireframe solid intersections, which are required for the statistical evaluation and resource block modelling.

Table 14-1 – Number of drill holes in each database

Number of DDH used Database Deposit Validated DDH for the 2020 MRE Colomac 792 721 Colomac, 24/27 24/27 46 25 Goldcrest Goldcrest 170 129 Grizzly Bear Grizzly bear 77 49 Damoti Damoti 499 266

Table 14-2 – Details of the DDH used for the MRE 2020

Number of DDH DDH drilled between Number of Historical DDH Database Deposit drilled between 2012-2019 total historical DDH total length (m) 2012-2019 length (m)

Colomac, Colomac 474 58,506 247 87,921 24/27 24/27 25 3,098 - -

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Number of DDH DDH drilled between Number of Historical DDH Database Deposit drilled between 2012-2019 total historical DDH total length (m) 2012-2019 length (m) Goldcrest Goldcrest 72 7,387 57 14,618 Grizzly Grizzly 37 3,530 12 2,538 Bear bear Damoti Damoti 256 30,157 10 3,276

14.3 Geological Model InnovExplo updated the 2020 geological models for all deposits of the Project using historical data and the data from Nighthawk’s 2012 to 2019 drilling programs.

Drill hole data (including oriented core) was used to update the geological models. All geological solids were modelled in Leapfrog and were snapped to drill holes.

Two surfaces were created for each deposit to define the topography and the overburden/bedrock contact. The topography was created using LIDAR data from 2017 (5 m resolution). For Colomac, the LIDAR data from 2017 were merged with a Drone Survey (DTM) from 2019 for the pit area. The overburden-bedrock contact was modelled using logged overburden intervals. A waste solid was also created for each deposit corresponding to the block model limits.

14.4 Interpretation of Mineralized Zones Mineralized zones were interpreted directly in 3D in Leapfrog on a hole-by-hole basis. Nighthawk’s internal 3D model was used as a guide to complete the current models. Lithologies (type, contacts, morphology) appear to be the main control on gold mineralization. The modelled zones were created according to lithological data and to the continuity of gold grades within each zone. For the Colomac, 24, 27, Grizzly Bear and Goldcrest deposits, the solids were designed with a minimum thickness of 3 m and based on a cut-off grade of 0.5 g/t Au. The solids for the veins extend to a radius of up to 100 m from the last selected intercept or are fixed at the mid-distance of an intercept that does not meet the minimum grade criterion. For the Damoti deposit, the solids were designed with a minimum thickness of 2 m and based on a cut-off grade of 1.0 g/t Au. The solids for the veins extend to a radius of up to 50 m from the last selected intercept or stop at the BIF solid limits if encountered before 50 m is reached. If an intercept does not meet the minimum grade criterion, the limits are fixed at the mid-distance.

14.4.1 Colomac deposit The mineralized zone model comprises one zone and one low-grade envelope subdivided into six (6) areas (1.0, 1.5, 2.0, 2.5, 3.0 and 3.5) for estimation purposes. The area subdivision is based on historical nomenclature.

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The main host for the Colomac mineralization is the brittle deformed quartz-diorite portion of the Colomac sill, which contains fracture stockworks and auriferous quartz-vein zones that are highly altered and carbonatized. The quartz-diorite lithology 3D solid was used as a low-grade envelope, and another solid was defined inside the quartz diorite envelope to recover higher grade intervals (above or equal to 0.5 g/t Au) in accordance with geological data. The current study incorporates an updated geological model refined by additional structural data from oriented core, a drone survey and surface mapping since 2016. Measurements indicate that the mineralized vein sets of the Colomac deposit consist of a simple to complex network of gold-bearing, extensional veins and hydrothermal breccias with local laminated quartz-carbonate fault-fill veins in moderately to steeply dipping, compressional brittle-ductile shear zones and faults. The complex stockwork of flat lying to steeply dipping gold-bearing structures appear to be hosted and controlled by the quartz diorite upper portion of the subvertical sill. Structural modeling suggests steeply dipping ore shoots within the quartz diorite are related to complex stacking of gold-bearing veins. Increased drilling, field data acquisition and the introduction of oriented core measurements have significantly advanced the understanding of Colomac mineralization, resulting in a more robust litho-structural model, which in turn has improved the level of confidence in the geological and grade continuities of the mineralized zones. The review and analysis of surface mapping and structural drill hole data also led to the identification of three (3) faults that cut across and offset the mineralized zones. The faults were modelled in Leapfrog as 3D surfaces. A barren post-ore dyke displacing the quartz-diorite was also identified and modelled in Leapfrog as a 3D solid.

14.4.2 24/27 deposits The mineralized zone model comprises two zones: 24 and 27. The zones of the 24/27 deposits are auriferous quartz veins or silicified zones located along a volcanic/sedimentary contact (Cohoon et al.,1991a and b). This contact served as a guide for the design of the 3D solids.

14.4.3 Goldcrest deposit The mineralized zone model comprises three zones: The Goldcrest main zone (GC3) and Goldcrest North (GC1 and GC2). The shape of the Goldcrest zones is mainly controlled by the brittle deformed host quartz diorite sill.

14.4.4 Grizzly Bear deposit The mineralized zone model comprises three zones: GB1, GB2 and GB3. The zones are located on a mafic volcanic lithological unit in contact with felsic volcanic units and are subparallel to the strata (NWT Geoscience Office, 2012c). This unit served as a guide for the 3D solids design.

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14.4.5 Damoti deposit The mineralized zone model comprises thirty-eight (38) zones and four (4) low-grade envelopes. The main control on the Damoti deposit is the highly folded BIFs. The best gold values are associated with fracture-controlled sulphides within dilation and pressure-shadow areas within the isoclinally folded and faulted BIFs. Mineralized zones were interpreted as low-dipping, isolated and subparallel lenses that cut across the primary layering in the iron formations. Zone extensions are constrained inside the BIFs. The BIF lithological solids are used as low-grade envelopes.

14.5 High-Grade Capping Basic univariate statistics were performed on the raw assay datasets for each mineralized zone. The following criteria were used to decide if capping was warranted: • The coefficient of variation of the assay population is above 3.0. • The quantity of metal contained in the top 10% highest grade samples is above 40%, and/or the quantity of metal in the top 1% highest grade samples is higher than 20%. • The probability plot of grade distribution shows abnormal breaks or scattered points outside the main distribution curve. • The log normal distribution of grades shows erratic grade bins or distanced values from the main population. The capping threshold decided for all zones is consistent with the combination of three criteria: • Break in the probability plot. • Coefficient of variation below 3.0 after capping. • Total metal of the top 1% highest grade samples is below 20% after capping.

14.5.1 Colomac deposit A total of 69 of the 52,259 raw assays from the mineralized zones were capped. Table 14-3 presents a summary of the statistical analysis for each dataset. The capping on raw assays consisted of a single top cap of 50 g/t Au for zones 1.5, 2.0, 2.5, 3.0 and 3.5 and 15 g/t Au for the low-grade Zone 1.0 and the low-grade envelope. Figure 14-1 shows graphs supporting the capping threshold decisions for zones 1.5, 2.0, 2.5, 3.0 and 3.5. Figure 14-2 shows graphs supporting the capping threshold decisions for Zone 1.0, and Figure 14-3 shows graphs supporting the capping threshold decisions for the low-grade envelope.

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Table 14-3 – Summary statistics for raw assays by zone, Colomac deposit

Cut Number Uncut Cut Max Uncut Capping Number Cut Metal Zone of Mean Mean COV (Au g/t) COV Factor (Au g/t) (Au g/t) Capped (Au g/t) Sample (%) 3.5 3,821 98.20 1.38 2.85 50 5 1.35 2.47 2.75 3.0 3,677 174.00 1.27 4.26 50 7 1.16 2.69 6.64 2.5 2,721 169.52 1.45 3.79 50 5 1.35 2.53 6.64 2.0 15,120 382.36 1.55 3.72 50 18 1.47 2.22 6.9 1.5 10,640 418.00 1.42 6.22 50 28 1.21 3.36 12.11 1.0 2,138 30.80 0.72 2.36 15 3 0.71 2.18 1.44 Low- grade 14,142 63.14 0.20 4.36 15 3 0.19 3.03 3.3 envelope

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Figure 14-1 – Graphs supporting a capping value of 50 g/t Au for zones 1.5, 2.0, 2.5, 3.0 and 3.5, Colomac deposit

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Figure 14-2 – Graphs supporting a capping value of 15 g/t Au for Zone 1.0, Colomac deposit

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Figure 14-3 – Graphs supporting a capping value of 15 g/t Au for the low-grade envelope, Colomac deposit

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14.5.2 24/27 deposits None of the 405 raw assays from the mineralized zones were capped. Table 14-4 presents a summary of the statistical analysis for each dataset. Figure 14-4 shows graphs supporting the capping threshold decisions.

Table 14-4 – Summary statistics for raw assays, 24/27 deposits

Cut Number Uncut Cut Max Uncut Capping Number Cut Metal Zone of Mean Mean COV (Au g/t) COV Factor (Au g/t) (Au g/t) Capped (Au g/t) Samples (%) 24/27 405 43.30 1.16 2.44 none 0 1.16 2.44 0

Figure 14-4 – Graphs supporting the none capping for the 24/27 deposit

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14.5.3 Goldcrest deposit A total of 17 of the 4,095 raw assays from the mineralized zones were capped. Table 14-5 presents a summary of the statistical analysis for each dataset. The capping on raw assays consisted of a single top cap of 30 g/t Au for zones GC1, GC2 and GC3. Figure 14-5 shows graphs supporting the capping threshold decisions.

Table 14-5 – Summary statistics for raw assays by zone, Goldcrest deposit

Cut Number Uncut Number Cut Max Uncut Capping Cut Metal Zone of Mean of Mean (Au g/t) COV (Au g/t) COV Factor (Au g/t) (Au g/t) samples Capped (%) GC1 315 36.58 1.04 2.50 30.00 1 1.02 2.29 1.67 GC2 562 36.44 1.03 2.30 30.00 1 1.01 2.16 0.74 GC3 3218 184.50 1.28 4.50 30.00 15 1.12 3.03 10.25

Figure 14-5 – Graphs supporting a capping value of 30 g/t Au for the Goldcrest deposit

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14.5.4 Grizzly Bear deposit Only one (1) of the 732 raw assays from the mineralized zones were capped. Table 14-6 presents a summary of the statistical analysis for each dataset. The capping on raw assays consisted of a single top cap of 30 g/t Au for zones GC1, GC2 and GC3. Figure 14-6 shows graphs supporting the capping threshold decisions.

Table 14-6 – Summary statistics for raw assays, Grizzly Bear deposit

Cut Number Uncut Cut Max Uncut Capping Number Cut Metal Zone of Mean Mean COV (Au g/t) COV Factor samples (Au g/t) (Au g/t) Capped (Au g/t) (%) GB 732 60.30 1.44 2.21 30 1 1.40 1.82 1.83 All zones

Figure 14-6 – Graphs supporting a capping value of 30 g/t Au for the Grizzly Bear deposit

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14.5.5 Damoti deposit Sixty-one (61) of the 14,633 raw assays from the mineralized zones were capped. Table 14-7 presents a summary of the statistical analysis for each dataset. The capping on raw assays consisted of a top cap of 100 g/t Au for all high-grade zones, except for zones 2000 to 2200 that were capped at 45 g/t, and zone 4300 that was capped at 40 g/t. The capping value for the low-grade envelopes is 20 g/t. Zones 2000 to 2200 and Zone 4300 have a more restrictive capping limit to control their higher COV. Figure 14-7 shows graphs supporting the capping threshold decisions for all high-grade zones excepted zones 2000 to 2200 and 4300. Figure 14-8 shows graphs supporting the capping threshold decisions for zones 2000 to 2200. Figure 14-9 shows graphs supporting the capping threshold decisions for Zone 4300, and Figure 14-10 shows graphs supporting the capping threshold decisions for the low-grade envelopes.

Table 14-7 – Summary statistics for raw assays, Damoti deposit

Cut Number Uncut Cut Max Uncut Capping Number Cut Metal Zone of Mean Mean COV (Au g/t) COV Factor samples (Au g/t) (Au g/t) Capped (Au g/t) (%) High- grade 3288 963.10 7.36 3.75 100 25 6.40 2.29 10.64 zones 2000 to 366 282.49 4.62 3.96 45 3 3.54 2.06 22.09 2200 4300 94 142 4.27 3.64 40 2 3.16 2.19 22.45 low- grade 10885 132.5 0.42 8.42 20 31 0.33 4.52 24.42 envelope s

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Figure 14-7 – Graphs supporting a capping value of 100 g/t Au for high-grade zones (except 2000 to 2200 and 4300), Damoti deposit

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Figure 14-8 – Graphs supporting a capping value of 45 g/t Au for high-grade zones 2000 to 2200, Damoti deposit

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Figure 14-9 – Graphs supporting a capping value of 40 g/t Au for high-grade zones 4300, Damoti deposit

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Figure 14-10 – Graphs supporting a capping value of 20 g/t Au for the low-grade envelopes, Damoti deposit

14.6 Compositing In order to minimize any bias introduced by variable sample lengths, the gold assays of the DDH data were composited to equal lengths within each of the mineralized veins. Codes were automatically attributed to DDH assay intervals intersecting the mineralized veins. Codes use the name of the corresponding 3D solid. The coded intercepts were used to analyze sample lengths and generate statistics for raw assays and composites. Table 14-8 summarizes the statistical analysis of the original (raw) assays for each deposit.

Table 14-8 – Summary statistics for the DDH raw assays

Number of Max Au cut Mean Au cut Standard Mean sample Deposit COV samples (g/t) (g/t) deviation length (m) Colomac 48,335 50 1.02 3.07 3.02 1.02 24/27 401 43.3 1.17 2.84 2.43 1.42 Goldcrest 4175 30 1.11 3.18 2.85 1.01 Grizzly bear 727 30 1.41 2.56 6.53 1.11 Damoti 14,471 100 1.78 7.65 4.30 0.94

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Zone thickness, proposed block size, and original sample length were taken into consideration for the calculation of the composite length for each deposit. The composite length was set to 1.5 m for the Colomac, 24/27, Goldcrest and Grizzly bear deposits and to 1.0 m for the Damoti deposit. A grade of 0.00 g/t Au was assigned to missing sample intervals. Table 14-9 presents the summary statistics for the composites per deposit.

Table 14-9 – Summary statistics for composites by deposit

Number of Max Au cut Mean Au cut Standard Composite Deposit COV composites (g/t) (g/t) deviation length (m) Colomac 30,935 50 0.95 2.07 2.18 1.5 24/27 382 28.56 1.09 2.14 1.97 1.5 Goldcrest 2,710 28.49 0.95 2.15 2.27 1.5 Grizzly bear 478 14.59 1.31 1.94 1.48 1.5 Damoti 18,442 100 1.06 5.31 5.01 1.0

14.7 Density Bulk densities are used to calculate tonnage from the estimated volumes in the resource- grade block model. In 2012, Nighthawk submitted 15 samples for specific bulk gravity (“SG”) analysis at SGS laboratory in Garson, Ontario. Density samples were selected from mineralized intervals collected on the Colomac Sill. Thirteen (13) quartz diorite samples returned a mean SG of 2.70 g/cm3 and two (2) quartz gabbro samples returned values of 2.71 g/cm3 and 2.50 g/cm3. From 2016 and 2019, Starkey & Associates Inc. were contracted to conduct metallurgical tests on a total of 12 samples of mineralized quartz diorite (11 from the Colomac Sill, one from the Goldcrest sill). Samples returned a mean SG of 2.7 g/cm3 for the Colomac Sill and one (1) sample returned 2.61 g/cm3 for the Goldcrest Sill. An average bulk density of 2.7 g/cm3 was selected for the Colomac and Goldcrest deposits based on the SG results and the geological similarity between the zones and deposits. For the Damoti deposit, the author used the value of 3.2 g/cm3 from the MRE 2005 (Puritch and Ewert, 2005). This average bulk density was derived from measurements on fourteen (14) representative samples from the mineralized zones. ALS Chemex of Mississauga, Ontario, performed the study. No density data were available for the 24/27 and Grizzly Bear deposits. An arbitrary value of 2.7 g/cm3 was attribute based on the lithological setting and the knowledge that those zones are mainly massive quartz veins in sheared and carbonatized mafic volcanic units. The estimate was based on the following assumptions: 85% quartz veins at 2.65 g/cm3 + 15% mafic volcanic at 3 g/cm3 =2.7 g/cm3. Overburden was attributed a bulk density of 2.00 g/cm3.

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14.8 Block Model A block model was created for each of the deposits to cover the 2020 MRE areas, including a buffer zone sufficient to host an open pit. The 2020 MRE block models correspond to single-folder block models in GEMS. All blocks with more than 50% of their volume falling within a selected solid were assigned the corresponding solid block code. The block model origin is the lower left corner and a specific rotation was applied for each deposit as described below: • Colomac: 0° • 24/27: 20° to the east • Goldcrest: 15° to the west • Grizzly Bear: 45° to the west • Damoti: 0° Block dimensions reflect the sizes of mineralized zones and plausible mining methods. Table 14-10 provides the block model properties.

Table 14-10 – Block model properties

Deposits Description Easting (m) Northing (m) Elevation (m) Origin coordinates 591,542 7,140,470 414 Number of blocks 190 587 101 Colomac Block size (m) 5 10 10 Block extent (m) 950 5870 1010 Origin coordinates 595,566 7,144,683 400 Number of blocks 28 71 24 24/27 Block size (m) 5 10 10 Block extent (m) 140 710 240 Origin coordinates 591,015 7,140,255 430 Number of blocks 29 193 61 Goldcrest Block size (m) 5 10 10 Block extent (m) 145 1930 610 Origin coordinates 589,835 7,139,621 380 Number of blocks 31 82 28 Grizzly Bear Block size (m) 5 10 10 Block extent (m) 155 820 280 Origin coordinates 591,508 7,113,782 325 Number of blocks 140 160 100 Damoti Block size (m) 3 3 3 Block extent (m) 420 480 300

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Table 14-11 provides details about the naming convention for the corresponding GEMS solids, as well as the rock codes and precedence assigned to each individual solid.

Table 14-11 – Block model naming convention and rock codes

GEMS Triangulation Name Deposit Workspace Description Rock code Precedence NAME1 NAME2 NAME3 Zone 1.0 100 100 1.0 Colomac_MZ 20 Zone 1.5 150 150 1.5 Colomac_MZ 20 Zone 2.0 200 200 2.0 Colomac_MZ 20 Zone 2.5 250 250 2.5 Colomac_MZ 20 Zone 3.0 300 300 3.0 Colomac_MZ 20 Zone 3.5 350 350 3.5 Colomac_MZ 20 Zone 1.0, low-grade 101 101 1.0 Colomac_QDio 25 envelope Zone 1.5, Mineralized low-grade 151 151 1.5 Colomac_QDio 25 Domains envelope

Colomac Zone 2.0, low-grade 201 201 2.0 Colomac_QDio 25 envelope Zone 2.5, low-grade 251 251 2.5 Colomac_QDio 25 envelope Zone 3.0, low-grade 301 301 3.0 Colomac_QDio 25 envelope Zone 3.5, low-grade 351 351 3.5 Colomac_QDio 25 envelope Overburden 50 Colomac OVB March2020 10 Lithologies Dilution 70 70 WASTE 50 Diabase 80 80 Dyke1 Colomac 15

Mineralized Zone 24 24 24 March2020 100 Domains Zone 27 27 27 March2020 100 24/27 Overburden 50 50 OB 10 Lithologies Dilution 70 70 WASTE 50 Zone GC1 101 101 GC_Zone1 20 (north) Mineralized Zone GC2 102 102 GC_Zone2 20 Goldcrest Domains (north) Zone GC3 103 103 GC_Zone3 20 (main) Lithologies Overburden 50 50 OB 10

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GEMS Triangulation Name Deposit Workspace Description Rock code Precedence NAME1 NAME2 NAME3 Dilution 70 70 WASTE 50 Zone GB1 101 101 GB_Zone1 20 Mineralized Zone GB2 102 102 GB_Zone2 20 Domains Grizzly Zone GB3 103 103 GB_Zone3 20 Bear Overburden 50 50 OB 10 Lithologies Dilution 70 70 WASTE 50 HG zone 100 HG -100 5 HG zone 200 HG -200 5 HG zone 300 HG -300 5 HG zone 400 HG -400 5 HG zone 500 HG -500 5 HG zone 700 HG -700 5 HG zone 800 HG -800 5 HG zone 900 HG -900 5 HG - HG zone 1000 5 1000 HG - HG zone 1100 5 1100 HG - HG zone 1200 5 1200 HG - HG zone 1300 5 1300 Mineralized HG - Damoti HG zone 1400 5 Domains 1400 HG - HG zone 2000 5 2000 HG - HG zone 2100 5 2100 HG - HG zone 2200 5 2200 HG - HG zone 2300 5 2300 HG - HG zone 2400 5 2400 HG - HG zone 2500 5 2500 HG - HG zone 2600 5 2600 HG - HG zone 2700 5 2700 HG - HG zone 2800 5 2800

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GEMS Triangulation Name Deposit Workspace Description Rock code Precedence NAME1 NAME2 NAME3 HG - HG zone 2900 5 2900 HG - HG zone 2950 5 2950 HG - HG zone 3000 5 3000 HG - HG zone 3100 5 3100 HG - HG zone 3200 5 3200 HG - HG zone 4000 5 4000 HG - HG zone 4100 5 4100 HG - HG zone 4200 5 4200 HG - HG zone 4300 5 4300 HG - HG zone 4400 5 4400 HG - HG zone 4500 5 4500 HG - HG zone 4600 5 4600 HG - HG zone 5000 5 5000 HG - HG zone 5100 5 5100 HG - HG zone 5200 5 5200 HG - HG zone 5300 5 5300 Low-grade LG - LG envelope 9100 7 9100 envelope (NE) Low-grade LG - LG envelope 9200 7 9200 envelope (SW) Low-grade LG - LG envelope 9300 6 9300 envelope (SE) Low-grade LG - LG envelope 9400 7 9400 envelope (NW) Lithologies Overburden 10 OVB 2

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GEMS Triangulation Name Deposit Workspace Description Rock code Precedence NAME1 NAME2 NAME3 Dilution 50 50 Host rock Waste 10 Diabase 20 Diabase1 3 Diabase 20 Diabase2 3 Diabase 20 Diabase3 3 Diabase 20 Diabase4 3 Diabase 20 Diabase5 3 HG zone: High-Grade zone

14.9 Variography and Search Ellipsoids

14.9.1 Variography Three-dimensional directional variography was carried out in Snowden Supervisor on capped composites. Zones were studied individually or grouped when data showed similar behaviours. Performed in connection with the geological knowledge of the deposit, the main steps in the variography process are: • Examine the strike, dip and dip plane of the mineralized zones to define the direction and plunge of the best continuity in the mineralization. • Estimate the nugget effect (C0) based on the downhole variogram. • Model the major, semi-major and minor axes of continuity. Table 14-12 documents the variogram model parameters of each zone or group of zones. Figure 14-11 shows examples of the variography study for the Colomac deposit.

Table 14-12 – Variogram model parameters

Variogram Components First Structure - Spherical Second structure - Spherical Deposits Dataset Nugget Range Range (C0) Sill Sill X (m) Y (m) Z (m) X (m) Y (m) Z (m) Zone 1.0 0.2 0.21 60 30 5 0.59 75 35 7 Zone 1.5 0.2 0.66 15 10 5 0.14 60 30 15 Colomac Zone 2.0 0.2 0.37 40 25 5 0.43 60 30 15 Zones 2.5, 0.2 0.32 12 5 3 0.48 110 35 15 3.0,3.5 grouped Zones 24 and 24/27 0.45 0.08 45 20 9 0.47 90 40 18 27 grouped Zones GC1 and Goldcrest 0.55 none none none none 0.45 60 25 10 GC2 grouped

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Zone GC3 0.5 0.09 45 15 7 0.41 90 30 15 Zones GB1, Grizzly GB2 and GB3 0.5 none none none none 0.5 86 55 10 Bear grouped Zones 100 to 0.16 0.50 5 3 3 0.34 30 10 7 500 grouped Damoti Zones 700 to 0.12 none none none none 5300 grouped 0.88 30 10 7

Figure 14-11 – Variography study and search ellipsoid ranges for the Colomac deposit

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14.9.2 Search Ellipsoids Forty-seven (47) sets of search ellipsoids (4 for Colomac, 1 for 24/27, 2 for Goldcrest, 2 for Grizzly Bear and 38 for Damoti) were built using the ranges of the best-fit variogram model for each zone or group of zones. The interpolation strategy involved two or three cumulative passes, characterized by increasing search ranges. For the Colomac deposit, the ranges of the search ellipsoids correspond to two-thirds (2/3x) the variography range results for the first interpolation pass, 1x the variography results for the second pass, and 2x the variography results for the third and last pass. For the 24/27 deposits, the ranges of the search ellipsoids correspond to half (1/2x) the variography range results for the first interpolation pass and 1x the variography results for the second pass. For the Goldcrest deposit, the ranges of the search ellipsoids correspond to half (1/2x) the variography range results for the first interpolation pass, 1x the variography results for the second pass, and one and a half times (1.5x) the variography results for the third and last pass. For the Grizzly Bear deposit, the ranges of the search ellipsoids correspond to 1x the variography range results for the first interpolation pass and 2x the variography results for the second pass. For the Damoti deposit, the ranges of the search ellipsoids correspond to 1x the variography range results for the first interpolation pass and 2x the variography results for the second pass. Table 14-13 summarizes the parameters of the search ellipsoids used to select composites. Figure 14-12 to Figure 14-16 show examples of the ellipsoids in isometric views.

Table 14-13 – Search ellipsoid parameters

Search Orientation Ranges Deposit Rock code Ellipse Az Dip Az X (m) Y (m) Z (m) Pass 1 50 23.33 4.66 100, 101 Pass 2 275 80 5 75 35 7 Pass 3 150 70 14 Pass 1 40 20 10 150, 151 Pass 2 207 59 4 60 30 15 Pass 3 120 60 30 Colomac Pass 1 40 20 10 200, 201 Pass 2 215 68 6 60 30 15 Pass 3 120 60 30 Pass 1 73.33 23.33 10 250, 251, 300, 301, Pass 2 285 80 15 110 35 15 350, 351 Pass 3 220 70 30

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Search Orientation Ranges Deposit Rock code Ellipse Az Dip Az X (m) Y (m) Z (m) Pass 1 40 20 9 24/27 24, 27 167 -49 327 Pass 2 80 40 18 Pass 1 30 12.5 5 101, 102 Pass 2 31 -68 181 60 25 10 Pass 3 90 37.5 15 Goldcrest Pass 1 45 15 7.5 103 Pass 2 10 40 21 90 30 15 Pass 3 135 45 22.5 Pass 1 86 55 10 101, 102 39 50 49 Grizzly Pass 2 172 110 20 Bear Pass 1 86 55 10 103 23 50 40 Pass 2 172 110 20 Pass 1 30 10 7 100 180 -14 70 Pass 2 60 20 14 Pass 1 30 10 7 200 185 -14 80 Pass 2 60 20 14 Pass 1 30 10 7 300,500 185 -14 39 Pass 2 60 20 14 Pass 1 30 10 7 400 171 -14 39 Pass 2 60 20 14 Pass 1 30 10 7 700 355 -8 84 Pass 2 60 20 14 Pass 1 30 10 7 Damoti 800 210 -14 110 Pass 2 60 20 14 Pass 1 30 10 7 900 180 -14 75 Pass 2 60 20 14 Pass 1 30 10 7 1000 180 -14 85 Pass 2 60 20 14 Pass 1 30 10 7 1100, 1200 165 -14 60 Pass 2 60 20 14 Pass 1 30 10 7 1300 170 -14 60 Pass 2 60 20 14 Pass 1 30 10 7 1400 170 -14 55 Pass 2 60 20 14

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Search Orientation Ranges Deposit Rock code Ellipse Az Dip Az X (m) Y (m) Z (m) Pass 1 30 10 7 2000 5 -13 120 Pass 2 60 20 14 Pass 1 30 10 7 2100 15 -5 120 Pass 2 60 20 14 Pass 1 30 10 7 2200 5 -13 130 Pass 2 60 20 14 Pass 1 30 10 7 2300 15 -1 105 Pass 2 60 20 14 Pass 1 30 10 7 2400 16 -4 106 Pass 2 60 20 14 Pass 1 30 10 7 2500 195 -13 100 Pass 2 60 20 14 Pass 1 30 10 7 2600 195 -3 102 Pass 2 60 20 14 Pass 1 30 10 7 2700 15 -5 107 Pass 2 60 20 14 Pass 1 30 10 7 2800 10 -5 102 Pass 2 60 20 14 Pass 1 30 10 7 2900 15 -5 105 Pass 2 60 20 14 Pass 1 30 10 7 2950, 3000 15 -6 108 Pass 2 60 20 14 Pass 1 30 10 7 3100 5 -12 100 Pass 2 60 20 14 Pass 1 30 10 7 3200 3 -12 101 Pass 2 60 20 14 Pass 1 30 10 7 4000 350 -4 85 Pass 2 60 20 14 Pass 1 30 10 7 4100 355 -8 88 Pass 2 60 20 14 Pass 1 30 10 7 4200 350 -8 80 Pass 2 60 20 14 Pass 1 30 10 7 4300 350 -22 88 Pass 2 60 20 14

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Search Orientation Ranges Deposit Rock code Ellipse Az Dip Az X (m) Y (m) Z (m) Pass 1 30 10 7 4400 350 -18 87 Pass 2 60 20 14 Pass 1 30 10 7 4500 355 -18 87 Pass 2 60 20 14 Pass 1 30 10 7 4600 355 -10 85 Pass 2 60 20 14 Pass 1 30 10 7 5000 190 -1 99.5 Pass 2 60 20 14 Pass 1 30 10 7 5100,9400 10 -4 100 Pass 2 60 20 14 Pass 1 30 10 7 5200 10 -6 100.5 Pass 2 60 20 14 Pass 1 30 10 7 5300 15 -2 106 Pass 2 60 20 14 Pass 1 30 10 7 9100 6 -7 100 Pass 2 60 20 14 Pass 1 30 10 7 9200 352 -12 86 Pass 2 60 20 14 Pass 1 30 10 7 9300 181 -14 55 Pass 2 60 20 14

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Figure 14-12 – Longitudinal view of the zone wireframes and search ellipsoids (Pass 2) for the Colomac deposit

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Figure 14-13 – Longitudinal view of the zone wireframes and search ellipsoids (Pass 2) for the 24/27 deposits

Figure 14-14 – Longitudinal view of the zone wireframes and search ellipsoids (Pass 2) for the Goldcrest deposit

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Figure 14-15 – Longitudinal view of the zone wireframes and search ellipsoids (Pass 1) for the Grizzly Bear deposit

• Ellipsoids displayed for zones 100, 300, 1000, 2100, 2950, 4000 and 5200 only; Pass 1. • Each zone has an adjusted ellipsoid. Figure 14-16 – 3D view of the zone wireframes and search ellipsoids for the Damoti deposit

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14.10 Grade Interpolation The variography study provided the parameters used to interpolate the grade model using capped composites. The interpolation was run on point area workspaces extracted from the composite datasets (flagged by zone) in GEMS. A cumulative 2- or 3-pass search was used for the resource estimate. The interpolation profiles were applied to each mineralized zone using hard boundaries to prevent block grades from being estimated using sample points with different block codes other than the block being estimated. For every deposit, several models were produced using Nearest Neighbor (NN), ID2, OK and/or ID3 method to choose the method that best respect the raw assays and composites grade distribution of each of them. Models were compared visually (in section, plan and longitudinal), statistically and with swath plots. The focus was to limit the smoothing effect to preserve local grade variations while avoiding the smearing of high-grade values. The inverse distance cube (“ID3”) method was selected for the final resource estimate of the Colomac, Grizzly Bear and Goldcrest deposits. For the 24/27 and Damoti deposits, the inverse distance square (“ID2”) and ordinary kriging (“OK”) methods were chosen, respectively. The strategy and parameters used for the grade estimation are summarized in Table 14-14.

Table 14-14 – Interpolation strategy by deposit

Number of composites Deposit Pass Min Max Max per hole 1 10 24 4 Colomac 2 6 24 4 3 4 24 4 1 6 24 4 24/27 2 4 24 4 1 10 24 4 Goldcrest 2 6 24 4 3 4 24 4 1 10 24 4 Grizzly Bear 2 6 24 4 1 8 24 3 Damoti 2 5 24 3

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14.11 Block Model Validation The block models were validated visually and statistically. A visual comparison between block model grades, composite grades and gold assays was conducted on sections, plans and longitudinal views for both densely and sparsely drilled areas. No significant differences were observed during the comparison and it generally provided a good match in grade distribution without excessive smoothing in the block models. The visual validation confirmed that the block models honor the drill hole composite data (Figure 14-17). For each deposit, several models were produced using Nearest Neighbor (“NN”), ID2, OK and/or ID3 method to check the local bias of every method. Table 14-15 presents the statistical comparison results.

Table 14-15 – Statistical comparison of composite mean grades to block model mean grades for different interpolation methods All blocks ≥ 0.001 g/t, interpolated during first and second pass Composite Interpolation Deposits Mean (Au g/t) ID3 (Au g/t) ID2 (Au g/t) OK (Au g/t) NN (Au g/t) Colomac 0.8 0.78 0.78 0.79 0.8 24/27 1.09 1.09 1.10 1.21 1.10 Goldcrest 0.95 0.84 0.84 0.88 - Grizzly bear 1.31 1.10 - 1.10 1.02 Damoti 0.68 - 0.57 0.58 0.55

The trend and local variation of the estimated models were also compared to the composites in the three directions of the swath plots (North, East and Elevation) for blocks estimated during the first and second pass with grades above 0.001 g/t. The swath plots show an acceptable amount of smoothing in the grade distribution regarding each method (Figure 14-18 to Figure 14-22).

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Figure 14-17 – Validation of the Colomac deposit interpolation results, comparing drill hole assays and block model grade values

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Figure 14-18 – Swath plot for the Colomac deposit (looking west)

Figure 14-19 – Swath plot for the 24/27 deposits (looking north)

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Figure 14-20 – Swath plot for the Goldcrest deposit (looking west)

Figure 14-21 – Swath plot for the Grizzly Bear deposit (cross strike 135°)

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Figure 14-22 – Swath plot for the Damoti deposit (looking west)

14.12 Cut-off Parameters Specific extraction methods are used only to establish a reasonable cut-off grade (“CoG”) for various portions of the deposit. No PEA, PFS or FS studies have been completed to support economic viability and technical feasibility of exploiting any portion of the mineral resource by any particular mining method. The cut-off grade must be re-evaluated in light of prevailing market conditions and other factors, such as gold price, exchange rate, mining method, related costs, etc.

14.12.1 Colomac, 24/27, Goldcrest and Grizzly Bear deposits cut-off parameters Mineral resources for the Colomac, 24/27, Goldcrest and Grizzly Bear deposits were compiled using a minimum cut-off grade for two combined potential extraction scenarios: 0.6 g/t Au for open pit and 1.3 g/t Au for underground bulk. The parameters and assumptions used to determine the CoG are presented in Table 14-16.

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Table 14-16 – Input parameters used for the cut-off grade estimation (Colomac, 24/27, Goldcrest, Grizzly Bear deposits)

Parameter Unit Value for open pits Value for underground bulk Gold price US$/oz 1425 1425 Exchange rate USD:CAD 1.33 1.33 Royalty % 0 0 Refining cost C$/oz 5.00 5.00 Cost of selling C$/oz 5.00 5.00 Total processing cost C$/t treated 22.50 25.00 Metallurgical recovery % 97 97 Ore premium mining cost C$/t moved 4.79 35.00 Administration & General C$/t treated 8.00 10.00 Northern Logistics C$/t treated 4.00 5.00 Total Ore Based Cost C$/t treated 39.29 75.00 Cut-Off Grade g/t Au 0.60 1.30

Using the parameters shown in the table above, cut-off grades were calculated as follows: CoG = (Processing + A&G + Northern Logistics + Mining) / (Gold price * Exchange rate - Sell cost) * Metallurgical recovery

14.12.2 Damoti deposit cut-off parameters Mineral resources for the Damoti deposit were prepared for a selective underground scenario only, and results were compiled using a minimum CoG of 2.00 g/t Au. Cut-off parameters were defined based on the idea that the Damoti deposit ore would be processed with the Colomac ore. The parameters and assumptions used to determine the CoG are presented in Table 14-17.

Table 14-17 – Input parameters used for the cut-off grade estimation (Damoti deposit)

Parameter Unit Value for selective underground Gold price US$/oz 1,425 Exchange rate USD:CAD 1.33 Royalty % 0 Refining cost CA/oz 5.00 Cost of selling C$/oz 5.00 Total processing cost1 C$/t treated 25.00 Metallurgical recovery % 97

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Parameter Unit Value for selective underground Ore premium mining cost C$/t moved 65.00 Administration & General C$/t treated 18.00 Northern Logistics C$/t treated 8.00 Total Ore Based Cost C$/t treated 116.00 Cut-Off Grade g/t Au 2.00 12. Total processing cost if processed with Colomac ore or other.

14.13 Mineral Resource Classification By default, all interpolated blocks were assigned to the “exploration potential” during the creation of the grade block model. Subsequent reclassification to either indicated or inferred category was done according to the following criteria: Inferred category criteria: • Blocks showing geological and grade continuity; • Blocks from well-defined mineralized zones only; • Blocks interpolated by a minimum of two holes; and • Blocks in areas where drill spacing is no more than 75 m. Indicated category criteria: • Blocks showing geological and grade continuity; • Blocks from well-defined mineralized zones only; • Blocks interpolated by a minimum of tree holes; and • Blocks in areas where drill spacing is no more than 50 m. No measured resources were defined. Some blocks were locally upgraded to the inferred or indicated category, and some blocks were locally downgraded to inferred or exploration potential in order to homogenize (smooth out) the resource volumes in each category, and to avoid isolated blocks from being included in a category domain. Final block classification was done using a series of outline rings (clipping boundaries) built on longitudinal view. For the Colomac deposit, 3D solids were also created in cross- sections for the two largest zones, 1.5 and 2.0, in order to accurately design the thickness of the resource boundaries. For the Damoti and the 24/27 deposits, only inferred resources were calculated as the databases would need land surveys to confirm collar locations of historical holes and the exact location of the underground ramp access to meet the standards for indicated resources. Figure 14-23 shows an example of mineral resource classification.

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Figure 14-23 – Example of the Colomac deposit showing the clipping boundaries for inferred and indicated classification

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14.14 Mineral Resource Estimate InnovExplo is of the opinion that the current mineral resource estimate can be classified as Indicated and Inferred mineral resources based on data density, search ellipse criteria, drill hole spacing and interpolation parameters. InnovExplo considers the 2020 MRE to be reliable and based on quality data, reasonable assumptions and parameters that follow CIM Definition Standards. Table 14-18 displays the results of the 2020 MRE for each deposit combining potential open pit, underground bulk and underground selective mining scenarios at cut-off grades of 0.6 g/t Au (in pit), 1.30 g/t Au (underground bulk) and 2.0 g/t Au (selective underground), respectively.

Table 14-19 to

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Table 14-23 presents the sensitivity of the 2020 MRE at different cut-off grades for each deposit and mining method. The reader should be cautioned that the figures provided in this table should not be interpreted as a mineral resource statement. The reported quantities and grade estimates at different cut-off grades are presented for the sole purpose of demonstrating the sensitivity of the resource model to the selection of a reporting cut-off grade.

Table 14-18 – Indin Lake Project 2020 Mineral Resource Estimate by deposit and mining method

Indicated resource Inferred resource Area (mining Cut-off Deposit Tonnage Au Tonnage Au method) (g/t) Ounces Ounces (000s) (g/t) (000s) (g/t) Open pit 0.6 7,996 1.73 443,800 159 1.46 7,500 Colomac UG Bulk 1.3 14,922 2.21 1,058,800 4,740 2.08 316,500 Open pit 0.6 - - - 375 1.89 22,800 24/27 UG Bulk 1.3 - - - 171 1.92 10,600 Open pit 0.6 1,362 1.56 68,100 8 1.00 300 Goldcrest UG Bulk 1.3 780 2.08 52,200 217 1.79 12,500

Grizzly Open pit 0.6 628 1.62 32,800 12 1.52 600 Bear UG Bulk 1.3 202 1.89 12,300 30 1.80 1,700 Subtotal 25,893 2.01 1,668,000 5,712 2.03 372,500 Damoti UG selective 2.0 - - - 736 4.97 117,800 TOTAL 25,893 2.01 1,668,000 6,448 2.37 490,300 Notes to accompany the Mineral Resource Estimate: 1. The independent and qualified persons for the mineral resource estimate, as defined by NI 43-101, are Marina Iund P.Geo., and Carl Pelletier, P.Geo., both from InnovExplo Inc., and the effective date is July 28, 2020. 2. These mineral resources are not mineral reserves, as they do not have demonstrated economic viability. 3. The mineral resource estimate follows current CIM definitions and guidelines for mineral resources. 4. The results are presented undiluted and are considered to have reasonable prospects of economic viability. 5. The estimate encompasses six (6) gold deposits (Colomac, 24, 27, Goldcrest, Grizzly Bear and Damoti), subdivided into 52 zones (6 for Colomac, 2 for 24/27, 3 for Goldcrest, 3 for Grizzly Bear and 38 for Damoti), each defined by individual wireframes, with a minimum true thickness of 3.0 m for the Colomac, 24/27, Goldcrest and Grizzly Bear deposits and a minimum true thickness of 2.0 m for the Damoti deposit, using the grade of the material when assayed or a value of zero when not assayed. One (1) low-grade envelope was create using the quartz diorite geological solid for the Colomac deposit and four (4) low-grade envelopes were create using the BIF geological solid for the Damoti deposit. The resource was estimated using GEOVIA GEMS 6.8.2. 6. High-grade capping supported by statistical analysis was done on raw assay data before compositing and established on a per-zone basis. Colomac deposit: all zones were capped at 50 g/t, except for the low-grade Zone 1.0 and the low- grade envelope, which were capped at 15 g/t; 24/27 deposits: not capped; Goldcrest and Grizzly Bear deposits: all zones were capped at 30 g/t; Damoti deposit: all high-grade zones were capped at 100 g/t, except zones 2000, 2100 and 2200 which were capped at 45 g/t and Zone 4300, which was capped at 40 g/t. The low-grade envelopes were capped at 20 g/t. 7. Grade interpolation was performed with the ID3 method on 1.5 m composites for the Colomac, Goldcrest and Grizzly Bear deposits, with the ID2 method on 1.5-m composites for the 24/27 deposits, and with the OK method on 1.0-m composites for the Damoti deposit. The Colomac, 24/27, Goldcrest, Grizzly Bear block models have a block size of 5.0 m by 10.0 m by 10.0 m, and the Damoti block model has a block size of 3.0 m by 3.0 m by 3.0 m. 8. Bedrock was assigned a density value of 3.2 g/cm3 for the Damoti deposit and a value of 2.7 g/cm3 for the Colomac, 24/27, Goldcrest and Grizzly Bear deposits, corresponding to the mean of SG measurements. A fixed density value of 2.00 g/cm3 was assigned to the overburden. 9. The mineral resource estimate is classified as indicated and inferred. For the Colomac, 24/27, Goldcrest and Grizzly Bear deposits, the Inferred category is defined with a minimum of two (2) drill holes within the areas where the drill spacing is less than 75 m and shows reasonable geological and grade continuity. The Indicated mineral resource category is defined with a minimum of tree (3) drill holes within the areas where the drill spacing is less than 50 m. For

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the Damoti deposit, the Inferred category is defined with a minimum of two (2) drill holes within the areas where the drill spacing is less than 60 m and shows reasonable geological and grade continuity. Clipping boundaries were used for classification based on those criteria. 10. The mineral resource estimate is locally pit-constrained with a bedrock slope angle of 50° and an overburden slope angle of 30°. It is reported at a rounded cut-off grade of 0.6 g/t Au (in pit), 1.30 g/t Au (underground bulk) and 2.0 g/t Au (underground selective). The cut-off grades were calculated using the following parameters: mining cost = $4.79 to $65.00; processing cost = 22.50 to CA$ 25.00; G&A = 8.00 to CA$ 18.00; refining and selling costs = CA$ 5.00; gold price = US$ 1,425.00/oz; USD:CAD exchange rate = 1.33; and mill recovery = 97.0%. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.). 11. The number of metric tonnes was rounded to the nearest thousand, following the recommendations in NI 43-101 and any discrepancies in the totals are due to rounding effects. The metal contents are presented in troy ounces (tonnes x grade / 31.10348). 12. InnovExplo Inc. is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, or marketing issues, or any other relevant issue not reported in the Technical Report, that could materially affect the Mineral Resource Estimate.

Table 14-19 – Colomac Deposit 2020 Mineral Resource Estimate, cut-off sensitivity by area

Area Indicated resource Inferred resource (mining Cut-off (g/t) Tonnage Tonnage method) Au (g/t) Ounces Au (g/t) Ounces (000s) (000s) >3.0 815 4.52 118,515 1 4.15 180 >2.0 2,137 3.22 221,517 38 2.31 2,804 >1.5 3,492 2.64 296,755 69 2.09 4,636 >1.3 4,252 2.42 330,802 82 1.97 5,227 >1.2 4,675 2.31 347,752 92 1.90 5,606 Open pit >1.0 5,781 2.08 386,735 117 1.73 6,515 >0.8 6,861 1.89 417,907 130 1.65 6,856 >0.7 7,505 1.80 433,474 138 1.59 7,051 >0.6 7,996 1.73 443,755 159 1.46 7,500 >0.5 8,524 1.65 453,045 185 1.34 7,956 <0.5 13,353 1.13 483,195 328 0.89 9,342 >3.0 2,187 4.45 312,702 526 4.48 75,892 >2.0 5,982 3.15 605,217 1 619 3.04 158,321 >1.5 11,104 2.49 888,191 3 374 2.35 255,344 >1.3 14,922 2.21 1,058,833 4 740 2.08 316,528 >1.2 17,499 2.07 1,162,316 5 550 1.96 349,079 Underground >1.0 24,199 1.80 1,398,000 7 545 1.73 419,356 Bulk >0.8 33,164 1.55 1,656,418 10 577 1.49 506,092 >0.7 38,343 1.44 1,781,124 12,517 1.37 552,853 >0.6 43,961 1.34 1,898,359 14 661 1.27 597,732 >0.5 49,934 1.25 2,003,834 16 960 1.17 638,356 <0.5 108,753 0.68 2,360,345 60 687 0.43 844,671

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Table 14-20 – 24/27 Deposits Mineral Resource Estimate, cut-off sensitivity by area

Area Indicated resource Inferred resource (mining Cut-off (g/t) Tonnage Tonnage method) Au (g/t) Ounces Au (g/t) Ounces (000s) (000s) >3.0 - - - 46 3.69 5,443 >2.0 - - - 154 2.80 13,852 >1.5 - - - 220 2.49 17,630 >1.3 - - - 244 2.38 18,720 >1.2 - - - 266 2.29 19,586 Open pit >1.0 - - - 304 2.14 20,921 >0.8 - - - 333 2.03 21,772 >0.7 - - - 370 1.91 22,656 >0.6 - - - 375 1.89 22,769 >0.5 - - - 391 1.83 23,062 <0.5 - - - 444 1.65 23,535 >3.0 - - - 3 3.51 305 >2.0 - - - 70 2.43 5,484 >1.5 - - - 128 2.10 8,641 >1.3 - - - 171 1.92 10,595 >1.2 - - - 184 1.88 11,089 Underground >1.0 - - - 239 1.69 13,006 Bulk >0.8 - - - 342 1.45 15,915 >0.7 - - - 443 1.29 18,335 >0.6 - - - 502 1.21 19,582 >0.5 - - - 590 1.11 21,114 <0.5 - - - 1 069 0.74 25,323

Table 14-21 – Goldcrest Deposit Mineral Resource Estimate, cut-off sensitivity by area

Area Indicated resource Inferred resource (mining Cut-off (g/t) Tonnage Tonnage method) Au (g/t) Ounces Au (g/t) Ounces (T*1000) (T*1000) >3.0 117 4.10 15,489 0 0.00 0 >2.0 297 3.08 29,412 0 0.00 0 Open pit >1.5 486 2.55 39,892 0 0.00 0 >1.3 633 2.29 46,520 1 1.36 59 >1.2 725 2.15 50,202 1 1.36 59

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Area Indicated resource Inferred resource (mining Cut-off (g/t) Tonnage Tonnage method) Au (g/t) Ounces Au (g/t) Ounces (T*1000) (T*1000) >1.0 891 1.96 56,023 4 1.19 155 >0.8 1,107 1.75 62,279 5 1.13 196 >0.7 1,266 1.62 66,137 8 1.00 260 >0.6 1,362 1.56 68,133 8 1.00 260 >0.5 1,471 1.48 70,044 8 1.00 260 <0.5 2,159 1.09 75,985 8 1.00 260 >3.0 76 4.46 10,847 5.400 4.26 739.6 >2.0 283 2.96 26,980 58.050 2.44 4,555.4 >1.5 570 2.34 42,773 136.350 2.02 8,876.5 >1.3 780 2.08 52,240 217.350 1.79 12,518.7 >1.2 919 1.95 57,782 275.400 1.68 14,837.7 Underground >1.0 1,273 1.72 70,213 346.950 1.56 17,374.8 Bulk >0.8 1,770 1.48 84,496 437.400 1.42 19,974.0 >0.7 2,106 1.37 92,528 502.200 1.33 21,544.8 >0.6 2,484 1.26 100,419 642.600 1.18 24,421.0 >0.5 2,896 1.16 107,656 806 1.05 27,300 <0.5 5,500 0.73 129,719 1,741 0.61 33,997

Table 14-22 – Grizzly Bear Deposit Mineral Resource Estimate, cut-off sensitivity by area

Area Indicated resource Inferred resource (mining Cut-off (g/t) Tonnage Tonnage method) Au (g/t) Ounces Au (g/t) Ounces (T*1000) (T*1000) >3.0 50 4.41 7,084 0 0.00 0 >2.0 139 3.13 13,998 5 2.12 368 >1.5 250 2.51 20,193 7 2.02 439 >1.3 321 2.26 23,387 7 2.02 439 >1.2 354 2.17 24,704 7 2.02 439 Open pit >1.0 440 1.96 27,759 7 2.02 439 >0.8 552 1.75 31,053 11 1.63 564 >0.7 597 1.67 32,118 12 1.52 595 >0.6 628 1.62 32,774 12 1.52 595 >0.5 655 1.58 33,259 12 1.52 595

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Area Indicated resource Inferred resource (mining Cut-off (g/t) Tonnage Tonnage method) Au (g/t) Ounces Au (g/t) Ounces (T*1000) (T*1000) <0.5 752 1.42 34,212 13 1.41 612 >3.0 12 3.40 1,328 0 0.00 0 >2.0 61 2.61 5,100 11 2.29 794 >1.5 140 2.11 9,503 23 1.93 1,423 >1.3 202 1.89 12,294 30 1.80 1,722 >1.2 238 1.79 13,700 39 1.67 2,097 Underground >1.0 346 1.58 17,504 84 1.36 3,673 Bulk >0.8 526 1.34 22,693 232 1.06 7,929 >0.7 628 1.24 25,118 247 1.04 8,284 >0.6 736 1.16 27,364 283 0.99 9,038 >0.5 864 1.07 29,616 308 0.96 9,455 <0.5 1,127 0.88 32,007 333 0.91 9,777

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Table 14-23 – Damoti Deposit Mineral Resource Estimate, cut-off sensitivity by area

Area Indicated resource Inferred resource (mining Cut-off (g/t) Tonnage Tonnage method) Au (g/t) Ounces Au (g/t) Ounces (T*1000) (T*1000) >7.0 - - - 108 12.57 43,560 >5.0 - - - 216 9.20 63,988 >4.0 - - - 321 7.65 79,039

Underground >3.0 - - - 498 6.17 98,771 Selective >2.0 - - - 736 4.97 117,781 >1.0 - - - 1,097 3.82 134,581 >0.5 - - - 1,507 2.97 143,962 <0.5 - - - 8,838 0.59 166,889

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15. MINERAL RESERVE ESTIMATES