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Technical Report and Resource Estimate on the Groete Gold Copper Deposit, Groete Property, Guyana, South America

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Technical Report and Resource Estimate on the Groete Gold Copper Deposit, Groete Property, Guyana, South America TECHNICAL REPORT AND RESOURCE ESTIMATE ON THE GROETE GOLD COPPER DEPOSIT, GROETE PROPERTY, GUYANA, SOUTH AMERICA FOR GOLD PORT RESOURCES LTD. LATITUDE 6o 37’ 42” N, LONGITUDE 58o 43’ 07” W NI-43-101 & 43-101F1 TECHNICAL REPORT Eugene Puritch, P.Eng. Richard H. Sutcliffe, P.Geo. Wayne Ewert, P.Geo. Fred Brown, P.Geo. Tracy Armstrong, P.Geo. Alfred Hayden, P.Eng. Antoine Yassa, P.Geo. P&E Mining Consultants Inc., Report No. 261 Effective Date: January 24, 2013 Signing Date: March 6, 2013 TABLE OF CONTENTS 1.0 SUMMARY .........................................................................................................................1 1.1 MINERAL RESOURCE ESTIMATE .....................................................................1 1.2 CONCLUSIONS AND RECOMMENDATIONS ..................................................2 2.0 INTRODUCTION AND TERMS OF REFERENCE .........................................................3 2.1 TERMS OF REFERENCE ......................................................................................3 2.2 SOURCES OF INFORMATION ............................................................................3 2.3 UNITS AND CURRENCY .....................................................................................3 3.0 RELIANCE ON OTHER EXPERTS ..................................................................................5 4.0 PROPERTY DESCRIPTION AND LOCATION ...............................................................6 4.1 PROPERTY LOCATION ........................................................................................6 4.2 PROPERTY DESCRIPTION AND TENURE ........................................................7 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ...............................................................................................................9 5.1 ACCESS ..................................................................................................................9 5.2 CLIMATE ..............................................................................................................10 5.3 LOCAL RESOURCES ..........................................................................................10 5.4 INFRASTRUCTURE ............................................................................................10 5.5 PHYSIOGRAPHY .................................................................................................10 6.0 HISTORY ..........................................................................................................................11 6.1 HISTORICAL RESOURCE ESTIMATES ...........................................................13 7.0 GEOLOGICAL SETTING AND MINERALIZATION ...................................................15 7.1 REGIONAL GEOLOGY .......................................................................................15 7.2 LOCAL GEOLOGY ..............................................................................................16 7.3 DEPOSIT GEOLOGY ...........................................................................................17 7.4 MINERALIZATION .............................................................................................18 8.0 DEPOSIT TYPES ..............................................................................................................20 9.0 EXPLORATION................................................................................................................21 9.1 2008 - EXPLORATION PROGRAM ...................................................................21 9.2 2009 - EXPLORATION PROGRAM ...................................................................21 9.3 2010 - EXPLORATION PROGRAM ...................................................................21 9.4 2011–2012 - EXPLORATION PROGRAM .........................................................23 9.5 CURRENT ARTISANAL MINING AND PROSPECTING ACTIVITY ............24 10.0 DRILLING .........................................................................................................................25 10.1 RECONCILIATION OF HISTORICAL DRILL HOLE LOCATION DATA .....25 10.2 TWIN HOLE DRILLING PROGRAM .................................................................26 10.3 GOLD ASSAY VALUES .....................................................................................28 10.4 COPPER ASSAY VALUES..................................................................................29 10.5 INFILL DRILLING PROGRAM ..........................................................................30 10.6 2012 - GEOPROBE DEEP SOIL DRILLING PROGRAM..................................31 11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY ..........................................33 11.1 SAMPLE PREPARATION AND SECURITY .....................................................33 11.2 LAB PROTOCOL FOR SAMPLE ANALYSIS ...................................................33 12.0 DATA VERIFICATION ...................................................................................................34 12.1 SITE VISIT AND INDEPENDENT SAMPLING ................................................34 12.2 QUALITY ASSURANCE/QUALITY CONTROL PROGRAM .........................35 12.2.1 Performance of Certified Reference Materials ..........................................36 12.2.2 Performance of Blank Material ..................................................................36 12.2.3 Performance of Field Duplicates ...............................................................36 13.0 METALLURGICAL PROCESSING AND METALLURGICAL TESTING ..................37 14.0 MINERAL RESOURCE ESTIMATES ............................................................................38 14.1 INTRODUCTION .................................................................................................38 14.2 PREVIOUS RESOURCE ESTIMATE .................................................................38 14.3 DATA SUPPLIED .................................................................................................38 14.4 DATABASE VALIDATION ................................................................................40 14.5 SPECIFIC GRAVITY ...........................................................................................40 14.6 DOMAIN MODELING .........................................................................................40 14.7 COMPOSITING ....................................................................................................41 14.8 COMPOSITE SUMMARY STATISTICS ............................................................41 14.9 TREATMENT OF EXTREME VALUES.............................................................42 14.10 CONTINUITY ANALYSIS ..................................................................................42 14.11 BLOCK MODEL ...................................................................................................42 14.12 ESTIMATION & CLASSIFICATION .................................................................43 14.13 MINERAL RESOURCE ESTIMATE ...................................................................43 14.14 MINERAL RESOURCE SENSITIVITY ..............................................................45 14.15 VALIDATION .......................................................................................................45 15.0 MINERAL RESERVE ESTIMATES................................................................................49 16.0 MINING METHODS ........................................................................................................50 17.0 RECOVERY METHODS ..................................................................................................51 18.0 PROJECT INFRASTRUCTURE ......................................................................................52 19.0 MARKET STUDIES AND CONTRACTS .......................................................................53 20.0 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT ............................................................................................................................54 21.0 CAPITAL AND OPERATING COSTS ............................................................................55 22.0 ECONOMIC ANALYSIS .................................................................................................56 23.0 ADJACENT PROPERTIES ..............................................................................................57 24.0 OTHER RELEVANT DATA AND INFORMATION .....................................................58 25.0 INTERPRETATION AND CONCLUSIONS ...................................................................59 26.0 RECOMMENDATIONS ...................................................................................................60 26.1 RECOMMENDATIONS AND PROPOSED BUDGET.......................................60 27.0 REFERENCES ..................................................................................................................61 28.0 CERTIFICATES ................................................................................................................62 LIST OF TABLES Table 1.1 Summary of the Groete Deposit In-Pit Mineral Resources ..................................... 1 Table 1.2 Recommended Program and Budget ....................................................................... 2 Table 4.1 Mining Permit Boundaries ...................................................................................... 8 Table 6.1 Historical
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