Mike Project Technical Report 2017

TECHNICAL REPORT on the MIKE PROJECT (COPPER CLAIMS)

NTS: 92J/13E, 14W Latitude 50o55’N Longitude 123o25’W Lillooet Mining Division, British Columbia

For: Cresval Capital Corp. Suite 900, 570 Granville Street Vancouver, BC V6C 3P1

By: Jean Pautler, P.Geo. JP Exploration Services Inc. #103-108 Elliott Street Whitehorse, Yukon Y1A 6C4 December 18, 2017

1.0 Executive Summary

The 11,127 hectare Mike Project, NTS map sheets 92J/13E and 14W, is located in the Lillooet Mining Division, British Columbia, 40 km west-northwest of Goldbridge approximately 235 km by road from Vancouver, British Columbia at a latitude of 5055’N and longitude of 12325’W. The property comprises the Copper 1 to 27 Mineral Tenure Online claims, 100% owned by Cresval Capital Corp. (Cresval).

The Mike Project is primarily underlain by the probable Eocene aged, granitic, 5 by 14 km Bridge River pluton, which has intruded at the margins of the Late Cretaceous to Paleogene Lord River pluton, the Late Cretaceous Dickson – McClure Batholith of granodiorite composition and Late Cretaceous granodiorite and quartz diorite of the Hurley River pluton. The above intrusions lie along the eastern margin of the Coast Plutonic Complex. The intrusive rocks are locally overlain by flat lying Pleistocene aged plateau basaltic flows and intruded by related basalt to diorite feeder dykes and felsite, quartz porphyry and feldspar porphyry dykes. The Bridge River pluton is multi-phase and includes a number of hydrothermal breccia bodies, which are common within porphyry type deposits.

The deposit model for the property is the bulk-mineable plutonic hosted, calcalkaline porphyry coppermolybdenumgold model. Examples include Highland Valley Copper and Gibraltar in British Columbia and Chuquicamata, La Escondida and Quebrada Blanca in Chile. Commodities are copper, molybdenum and gold in varying quantities with minor silver in most deposits.

Numerous copper, gold, molybdenum porphyry occurrences are documented within a belt 10-15 km north of the Mike Project, including the IKE Project of Amarc Resources Ltd. (subject of a funding/partnership agreement with Hudbay Minerals Inc.). The Mike Project adjoins and displays a similar footprint, age and geological setting to the IKE discovery. A copper-molybdenum-silver mineralized system measuring at least 3.5 km by 2 km has been delineated at IKE through combined induced polarization surveys, talus geochemical sampling and 2014 to 2016 drilling of over 12,000m in 21 core holes. Drill intercepts include 0.39% Cu, 0.03% Mo, 2.8 g/t Ag over 148m in DDH 20; 0.30% Cu and 0.032% Mo, 2.1 g/t Ag over 591m in DDH 13. The author is not able to verify the above information and the information is not necessarily indicative of the mineralization on the Mike Project.

The Mike Project covers the historical Nichol, Russnor, Red Creek and BR porphyry copper Minfile showings (documented mineral occurrences on file with the British Columbia Geological Survey), and the Copper Plateau − NBR, and the Windy − Snowfield Copper Minfile showings discovered by Cresval. The porphyry copper showings, with associated gold, silver and molybdenum values, cover a 12 km extent within the granitic Bridge River pluton. Other showings include the Canyon zone (pyritic and altered granite discovered in 2007 that may represent a pyritic halo to the porphyry copper system), and the UBR (reported as minor fracture controlled and blebby chalcopyrite mineralization).

Historical exploration on the Mike Project undertaken between 1929 and 1987, prior to initial acquisition by Cresval Capital Corporation, has involved approximately 95m of underground development in two adits, 1790.4m of diamond drilling in 25 holes, hand trenching and chip sampling, all focused on the three known showings. Limited mapping, and preliminary rock and soil geochemistry were completed on the Nichol and Russnor showings with more complete mapping and a grid soil survey at the BR. A reconnaissance magnetic survey was completed in the Nichol area with grid magnetic and induced polarization surveys over the BR showing area.

Exploration by Cresval, conducted between 2005 and 2017, has included: prospecting, mapping and sampling; a 7.8 line km induced polarization geophysics/MMI soil survey over the Canyon zone; a 4.0 line km soil survey and 47.35m of hand trenching on the Copper Plateau (above the BR showing); construction of a 2.0 km access trail into, and a 13.5 line km soil survey on, the Russnor showing; a 3.5 line km soil survey over the Windy Copper showing; 2031.5m of diamond drilling in 9 holes testing the Copper Plateau with 5 holes and the Russnor Breccia with 4 holes; and an 1149 line km airborne magnetic and radiometric survey.

The Nichol showing, in the eastern project area, covers an open ended 600 by 400m zone carrying 4.73% Cu, 32.8 g/t Ag, 0.16 g/t Au, 0.015% Mo over 1m and 2.08% Cu over 4.5m from trenching and 3.50% Cu, 34.3 g/t Ag, 0.079% Mo over 8.5m from drilling. Previous work concentrated on the high grade “veins”, which may represent silica-sulphide mineralization in the core of the porphyry system. The eastern edge of the Nichol showing is associated with a northwest trending shear zone that defines the eastern margin of the Bridge River pluton; the shear zone hosts the Bornite occurrences on the adjoining MacKenzie Project of Carube Copper Corp.

The Russnor showing, in the central project area, covers an intrusive breccia (Russnor Breccia) with historical values of 1.38% Cu over 30.5m from an old adit, 0.57% Cu over 60m and 1.00% Cu over 16.2m from the canyon of Thunder Creek, and 0.30% Cu over 36.6m from drilling. The Red Creek (Copper 9) showing is a chalcopyrite and molybdenite bearing gossan at the north end of the Russnor showing. Despite technical and logistical difficulties, Cresval ‘s 2011 drill program on the Russnor showing returned 0.043% Cu over 189m (including 0.103% Cu over 18m) in DDH RS11-06 from the southern extension of the Russnor Breccia zone. A 13.5 line km soil survey over the Russnor showing in 2010 delineated a strong open ended, northerly trending, 1 km long by up to 600m wide copper-silver-gold anomaly; the Russnor Breccia is restricted to a <150m long zone along the eastern margin of the Russnor Anomaly. All of the drilling on the Russnor has been restricted to the more accessible Russnor Breccia at the eastern edge of the soil anomaly.

Windy Copper, found by Cresval in 2008 3 km to the north-northwest of the Russnor, covers Cominco’s #3 showing from 1931, reportedly carrying 3.26% Cu over 9.1m and 0.44% Cu across 24.5m, and the Contact zone, carrying peak values of 1.48% Cu. The Snowfield showing was discovered 1 km to the northwest, with a grab sample returning 0.69% Cu and 14.1 g/t Ag. A 3.5 line km soil survey over the Windy Copper showing delineated a 400 by 350m copper in soil anomaly and an open ended 550m by 125m

4 wide northeast trending gold in soil anomaly; prospecting exposed copper mineralization over a 1 km by 400m area.

At the BR showing, mineralization, consisting of chalcopyrite, malachite, azurite, bornite, chalcocite, magnetite and trace molybdenite in fractures, extends over a 1.7 km by 0.5 km area with a central higher grade zone 1.45 km by 150 to 300m wide, primarily exposed along south facing cliffs north of the North Fork of the Bridge River. Alteration primarily consists of widespread propyllitization with fracture controlled sericite and potassic alteration and local silicification. Intrusive breccia bodies, including some hydrothermal breccias are present. Historical results from the BR showing include 1.08% Cu, 0.05% Mo across 1m from quartz-sulphide veins, 0.14% Cu over 17m from 1960’s trenching and 0.134% Cu over 9m molybdenum from the bottom of DDH 71-1. Re- sampling of the above trench in 2009 returned 0.25% Cu over 10m.

In 2008 to 2009, Cresval traced the mineralization into the plateau area above the BR showing; the plateau is more amenable to open pit mining than the mineralized cliffs at the BR showing to the south. A 450 by 550m copper in soil anomaly was delineated on the Copper Plateau (open onto the copper bearing cliffs to the south and open to the east) with a maximum value of 4120 ppm Cu and 75 ppb Au, and 457 ppm Mo in soil obtained 1.5 km northeast of the grid. Significant 2009 hand trench results, limited by the length of the trench, include 0.49% Cu over 4.5m and 0.84% Cu over 2.8m. This showing was initially referred to as NBR in 2008, but renamed Copper Plateau in 2009. Anomalous copper was intersected in four of the five 2011 drill holes at Copper Plateau with 0.033% Cu over 206m (including 0.060 over 87.5m) from DDH CP11-04, 0.051% Cu over 99m from DDH CP11-01, 0.053% Cu over 85m from DDH CP11-03 (including 0.090 over 36.6m), and 0.043% Cu over 69m from DDH CP11-05. A post mineral latite dyke was intersected in DDH CP11-02.

A $210,000 Phase 1 exploration program to delineate drill targets is recommended on the Mike Project consisting of prospecting, mapping and select induced polarization surveys to follow up interpreted larger zones of potassic alteration coincident with the Russnor and Windy Copper soil anomalies and mineralization at the Copper Plateau. Detailed prospecting, mapping and chip sampling is recommended at the Nichol showing to evaluate the porphyry potential in this area. A $950,000 Phase 2 program of diamond drilling, contingent on the results from Phase 1, is recommended to follow up results from the Phase 1 program.

Table of Contents

Page Title Page ...... 1 1.0 Executive Summary ...... 2 Table of Contents ...... 5 List of Illustrations ...... 6 List of Tables ...... 6 6 2.0 Introduction and Terms of Reference ...... 7 2.1 Qualified Person, Participating Personnel and Scope ...... 7 2.2 Terms, Definitions and Units ...... 6 2.3 Source Documents ...... 8 2.4 Limitations, Restrictions and Assumptions ...... 8 3.0 Reliance on Other Experts ...... 9 4.0 Property Description and Location ...... 9 4.1 Location ...... 9 4.2 Land Tenure ...... 10 5.0 Accessibility, Climate, Local Resources, Infrastructure & Physiography ...... 12 5.1 Access, Local Resources and Infrastructure ...... 12 5.2 Physiography, Climate and Infrastructure ...... 13 6.0 History ...... 13 7.0 Geological Setting and Mineralization ...... 16 7.1 Regional Geology ...... 16 7.2 Property Geology ...... 19 7.3 Mineralization ...... 20 8.0 Deposit Type ...... 22 9.0 Exploration ...... 24 9.1 Soil Geochemistry ...... 24 9.2 Trenching ...... 28 9.3 Geophysics ...... 29 Drilling 18 10.0 Drilling ...... 34 10.1 Previous Drilling ...... 34 10.2 2011 Drilling ...... 38 11.0 Sample Preparation, Analyses and Security ...... 43 12.0 Data Verification ...... 44 13.0 Mineral Processing and Metallurgical Testing ...... 44 14.0 Mineral Resource Estimates ...... 45 23.0 Adjacent Properties ...... 45 24.0 Other Relevant Data and Information ...... 46 25.0 Interpretation and Conclusions ...... 46 26.0 Recommendations ...... 48 26.1 Budget ...... 49 Signature Page ...... 50 27.0 References ...... 51 Certificate of Qualified Person ...... 54

List of Illustrations Page Figure 1: Location Map ...... 9 Figure 2: Claim and Index Map ...... 11 Figure 3: Access Map ...... 12 Figure 4: Regional Geology Map ...... 17 Figure 5: Property Geology Map ...... 18 Figure 6: Canyon Zone - Cu in MMI Soils ...... 25 Figure 7: Russnor Anomaly ...... 26 Figure 8: Windy Copper - Cu in Soils ...... 30 Figure 9: Geology over TMI Magnetics ...... 31 Figure 10: CVG Magnetics with Structure and Compilation ...... 32 Figure 11: Airborne K/Th Radiometrics ...... 32 Figure 12: Nichol Showing – Drill & Trench Plan ...... 35 Figure 13: Copper Plateau - Drill, Trench & Soil Plan...... 40 Figure 14: Russnor Drill Plan ...... 41

List of Tables Table 1: Claim data summary ...... 10 Table 2: Adit specifications ...... 13 Table 3: Nichol trench specifications and results ...... 28 Table 4: BR trench results ...... 28 Table 5: Copper Plateau 2009 trench specifications and results ...... 29 Table 6: Summary of drill programs ...... 34 Table 7: Drill hole specifications - Nichol showing ...... 34 Table 8: Drill hole results – Nichol showing ...... 35 Table 9: Historical drill hole specifications– Russnor showing ...... 36 Table 10: 1961 drill results – Russnor showing ...... 36 Table 11: 1969 drill results – Russnor showing ...... 37 Table 12: Drill hole specifications – BR showing ...... 38 Table 13: 2011 drill hole specifications ...... 39 Table 14: Significant 2011 drill hole results ...... 42

2.0 INTRODUCTION AND TERMS OF REFERENCE

2.1 Qualified Person, Participating Personnel and Scope

Ms. Jean M. Pautler, P.Geo. of JP Exploration Services Inc. (JPEx) was commissioned by Cresval Capital Corp., Vancouver, British Columbia, a company duly incorporated under the laws of the Province of British Columbia, to examine and evaluate the geology and mineral potential of the Mike Project, consisting of 27 contiguous Copper claims, and to make recommendations for the next phase of exploration work in order to test the resource potential of the property. Based on the literature review, property examinations and work conducted by the author on the property, and review of all exploration programs by Cresval Capital Corp. recommendations are made for the next phase of exploration work. An estimate of costs has been made based on current rates for drilling, soil geochemical surveys, geophysical surveys and professional fees in British Columbia. Regional geological data and current exploration information have been reviewed to determine the geological setting of the mineralization and to obtain an indication of the level of industry activity in the area.

The report describes the property in accordance with the guidelines specified in National Instrument 43-101 and is based on historical information, a review of recent exploration in the area, and a site visit by the author on July 17, 2016 at which time select showings, trench and drill sites were examined. The author completed a previous site visit on August 30 to 31, 2011, and worked on the property from July 28 to August 8, 2010, September 1 to 4, 2009, September 13 to 17, 2008, October 25 to 28, 2007 and August 17 to 27, 2005, and reviewed all exploration programs by Cresval Capital Corp.

2.2 Terms, Definitions and Units

All costs contained in this report are denominated in Canadian dollars. Distances are primarily reported in metres (m) and kilometres (km) and in feet (ft) when reporting historical data. GPS refers to global positioning system, with UTM co-ordinates reported in Nad 83, Zone 10 projection. Minfile showing refers to documented mineral occurrences on file with the British Columbia Geological Survey. DDH refers to diamond drill hole. IP refers to induced polarization, a type of geophysical survey. TMI refers to Total Magnetic Intensity and CVG to Calculated Vertical Gradient in respect to magnetic geophysical surveys. MMI refers to a type of soil survey utilizing mobile metal ions, useful in detecting mineralization beneath glacial till and younger cover rocks.

The term ppm refers to parts per million, which is equivalent to grams per metric tonne (g/t) and ppb refers to parts per billion. The abbreviation oz/ton and oz/t refers to troy ounces per imperial short ton. The symbol % refers to weight percent unless otherwise stated.

Element abbreviations used in this report include: gold (Au), silver (Ag), copper (Cu), molybdenum (Mo), iron (Fe), arsenic (As), sulfide (S) and oxide (O). Minerals found on the Bridge River property include pyrite (iron sulfide), magnetite (iron oxide) chalcopyrite and bornite (both copper sulfides), molybdenite (molybdenum sulfide) and malachite and azurite (both hydrous copper carbonates).

2.3 Source Documents

Sources of information are detailed below and include available public domain information and personally acquired data.  Research of Minfile data at http://www.em.gov.bc.ca/Mining/Geolsurv/Minfile/default.htm on December 16, 2017.  Research of mineral titles at http://www.em.gov.bc.ca/Mining/Geolsurv/MapPlace and http://www.mtonline.gov.bc.ca on December 16, 2017.  Review of annual assessment and company reports filed with the Ministry of Energy and Mines.  Review of the company reports of Thunder Creek Mines Ltd. N.P.L.  Review of other proprietary company data.  Review of the news releases and website of Cresval Capital Corp. and of other companies in the regional area.  Review of geological maps and reports completed by the British Columbia Geological Survey or its predecessors and the Geological Survey of Canada.  Published scientific papers on the geology of the region, porphyry copper and copper-gold deposits, and mineral deposits.  Site visits by the author on July 17, 2016, and August 30 to 31, 2011, work conducted on the property by the author from July 28 to August 8, 2010, September 1 to 4, 2009, September 13 to 17, 2008, October 25 to 28, 2007 and August 17 to 27, 2005, and a review of all exploration programs by Cresval Capital Corp. by the author.

2.4 Limitations, Restrictions and Assumptions

The author has relied in part upon work and reports completed by others in previous years in the preparation of this report as identified under Section 2.3, “Source Documents” and Section 27.0, “References”. The author has assumed that the previous documented work on the properties and in the region is valid and has not encountered any information to discredit such work. Thorough checks to confirm the results of such work and reports have not been done. Unless otherwise stated the author has not independently confirmed the accuracy of the data. Exploration assessment reports, listed in Section 27.0, “References”, were completed by competent professionals and/or reputable prospectors and have been accepted by the Mining Recorder.

3.0 RELIANCE ON OTHER EXPERTS

While title documents were reviewed for this study as identified under Section 2.3, “Source Documents” and Section 27.0, “References”, this report does not constitute nor is it intended to represent a legal, or any other, opinion as to the validity of the title. The title information was relied upon to describe the ownership of the property and claim summary in Section 4.2, “Land Tenure”.

4.0 PROPERTY DESCRIPTION AND LOCATION

4.1 Location (Figures 1 to 3)

The Mike Project, NTS map sheets 92J/13E and 14W and BCGS map sheets 92J 083, 084, 093 and 094, is located 40 km west-northwest of Goldbridge, British Columbia, approximately 235 km north of Vancouver, British Columbia by road in summer, 345 km in winter (Figures 1 and 3). It encompasses the drainages of Thunder and Nichols Creeks, which flow southerly into the Bridge River drainage, and the southeasterly flowing North Fork of the Bridge River (Figure 2). The property is centred at a latitude of 5055’N and longitude of 12325’W, approximately 120 km from railhead at Shalalth.

BRITISH COLUMBIA

YUKON N B.C.

97 DEASE LAKE

37 97

STEWART

SMITHERS PRINCE RUPERT 16 16 PRINCE GEORGE KITIMAT (Al) 16 97 20 WILLIAMS LAKE

1 LEGEND LILLOOET routes 99 community 1 TRAIL(Zn) port VANCOUVER smelter VICTORIA

FIGURE 1: LOCATION British Columbia 0 400 JPEx December, 2017 Road Map km

4.2 Land Tenure (Figure 2)

The Mike Project comprises the Copper 1 to 27 Mineral Tenure Online (MTO) claims consisting of 27 contiguous claims covering an area of approximately 11,127 hectares in the Lillooet Mining Division, British Columbia (Figure 2). The area is approximate since claim boundaries have not been legally surveyed. The claims were acquired in accordance with Mineral Titles Online on NTS map sheets 92J/13E and 14W, available for viewing at http://www.mtonline.gov.bc.ca. The claims are registered in the name of Cresval Capital Corp., Client Number 205969. A table summarizing pertinent claim data follows. TABLE 1: Claim data summary Claim Name Tenure No. Area (ha) Issue Date Expiry Date Copper 1-10 509984, 509986-94 4,481.335 April 1, 2005 May 5, 2019 Copper 11 510159 489.321 April 4, 2005 May 5, 2019 Copper 12-16 522366-70 2,241.853 Nov. 17, 2005 May 5, 2019 Copper 17-22 563704,6,8-11 2,344.8207 July 27, 2007 May 5, 2019 Copper 23 666103 101.9865 Nov. 6, 2009 May 5, 2019 Copper 24-25 733902, 733922 610.8813 Mar. 24, 2010 May 5, 2019 Copper 26-27 929970-71 856.8293 Nov. 20, 2011 May 5, 2019 TOTAL 27 claims 11127.0268

The eastern boundary of Ts’yl-Os Provincial Park lies approximately 1 km northwest of the Mike Project boundary and the southwestern boundary of South Chilcotin Provincial Park lies about 0.5 km to the east of the northeastern property boundary. Due to the expanse of parks in the region it is not anticipated that additional parks will be created or that existing boundaries will change. The Esketemc First Nation has a Statement of Intent on land just to the north of the Mike Project and covering the northeastern portion of the Copper 3 claim on the Mike Project, approximately 2 km north of the Nichol showing (Figure 2). The mineral claims are situated on Crown Land and fall under the jurisdiction of the British Columbia Government.

A mineral claim holder is required to perform assessment work and is required to document this work to maintain the title as outlined in the regulations of the British Columbia Ministry of Energy and Mines. The amount of work required is $5.00 per hectare for the first two years, $10.00 per hectare for the third and fourth years, $15.00 per hectare for the fifth and sixth, and $20.00 per hectare thereafter. Alternatively, the claim holder may pay twice the equivalent amount to the British Columbia Government as “Cash in Lieu” to maintain title to the claims.

Preliminary exploration activities do not require permitting, but significant drilling, trenching, blasting, cut lines, excavating and induced polarization geophysical surveys may require a permit, obtained by filing a Notice of Work and Reclamation with the British Columbia Ministry of Energy and Mines. A permit is not currently in place for the Mike Project, but will be applied for as required. To the author’s knowledge, the Mike Project area is not subject to any environmental liability. The author does not foresee any significant factors and risks that may affect access, title, or the right or ability to perform work on the property.

553937553937 602343602343 550907550907

11 10288881028888 10288891028889 First Nation 1028889 IKE 1028888 PROJECT N BC 3 Esketemc 2 10288901028890 943349943349N 509987509987 South Chilcotin 943270943270 Mtns. Park VANCOUVER 25 24 733922733922 733902733902 Ts’yl-Os 733922 092JW 009 NICHOL 092JW 054 SNOWFIELD 509984 Park COPPER 509984509984 Nichols509988509988 2000m 509988 943350943350 943215 092JW 052 WINDY COPPER 943351943351 943350 943329943329 943216943216 943215943215 509990509990 4 943251943251

Thunder 6 943251 943252943252 943217 92J /1492J 92J /1392J 943217943217 5 13 522367522367 092JW 053 8 1 509989509989 RED CREEK 092JW 060 BORNITE NW 943250943250 509991509991 943315 943316943316 943249943249 943110943110 943151943151 14 522368522368 509992509992 943314943314 943315943315 943249 943109943109 943110 7 509993509993 522366522366 12 507075507075 092JW 050-51 NBR & MacKENZIE COPPER PLATEAU 9 706422706422 15 092JW 011 RUSSNOR 522369522369 20 092JW 045 BORNITE 092JW 010 BR 509994509994 563709563709 507040 522370522370 943272943272 507040507040 943150943150 North Creek 10 943310943310 943309943309 943272 706415706415 943089943089 943111943111 510159510159 21 Creek 706420 11 563710563710 943312 706420706420 UBR 17 563704563704 Fork 943312943312 COPPER 16 507080507080 19 092JW 049 BORNITE SE 507080 563706563706 563706 22 563711563711 18 CANYON 943271943271 706416706416 943311943311 943289943289 943271 706418706418 706417706417 706416 943070943070 666103666103 27 PROJECT 23 26 929971929971 706423706423 929970 1200m MINFILE OCCURENCE SHOWING 929970929970 road 1200m logging 943372943372 SCALE 2.5 km Fork 943389943389 943069943069 South BRIDGE RIVER 857106857106 943069 from: http://www.empr.gov.bc.ca/Mining/Geoscience/MapPlace 857105857105 943371943371 JPEx December, 2017 SALAL 632623632623 To Goldbridge FIGURE 2: CLAIM MAP 632364632364 PROJECT 632664 632665632665 632664632664

632605632605 632404632404 632383632383 632663632663 632464632464 632463632463 553680553680 553682553682 12

5.0 Accessibility, Climate, Local Resources, Infrastructure & Physiography

5.1 Access, Local Resources and Infrastructure (Figure 3)

The Mike Project is accessible via Highway 99 North from Vancouver through Squamish and Whistler to Pemberton (see Figure 3). 4 From May to November access can be 0 obtained by turning left through Pemberton, then right along the Pemberton Meadows 9 1 Road for 23 km to the Hurley River Road, 9 2 which passes the Outdoor School and is followed for 50 km to Highway 40, approximately 0.25 km west of Goldbridge. 9 In winter continue on Highway 99 past 9 Pemberton to Lillooet, then 110 km west railway Hwy along the Carpenter Lake Road (Highway 1 40) to Goldbridge.

From Goldbridge the project area is accessible by the Bridge River Forest Service Road westerly from the Hurley River Road, along the southern shore of the Downton FIGURE 3: ACCESS MAP JPEx Dec., 2005 Lake reservoir (used in the generation of hydro-electric power). The road crosses the Bridge River and continues westerly over Nichols Creek near its junction with the Bridge River, continuing onto the Copper claims to a point 1.6 km south of the Griswold (Russnor) Minfile showing (Figure 2). A 2 km long four wheel drive trail (Russnor Trail) connects the logging road to a suitable creek crossing across from the Russnor showing.

Camp locations in 2011 were situated at the old helicopter accessible camp at the BR showing, at Nad 83 Zone 10 UTM coordinates 5639413mN, 464618mE, and across from the Russnor showing, at 5639984mN, 470217mE. The old 1970’s camp location at 5639857mN, 470145mE, above the adit in the Russnor area was brushed out in 2005 to allow for helicopter access, and additional brushing is now necessary. Suitable helicopter accessible camp locations also occur 250m below the Nichol showing at 5643642mN, 474403mE and at Windy Copper at 5642597mN, 468240mE.

Goldbridge, the closest town, has a population of approximately 43 with main industries including ranching, guiding, tourism and mining. Facilities include a first aid station, motel and hotel, grocery store, post office, service station, and a restaurant. More complete services are available in Lillooet, less than two hours by road, east of Goldbridge (Figure 3). Both communities have a strong mining oriented labour force.

5.2 Physiography, Climate and Infrastructure (Figure 2)

The property lies within and adjacent to the Dickson Range of the Pacific ranges along the eastern margin of the Coast Mountains in southwestern British Columbia, characterized by rugged mountainous terrain broken by minor isolated plateaus (Figure 2). Valley glaciation is widespread as evident in the “U” shaped valley of Nichols Creek.

Elevations on the property range from 1150m to over 2400m above sea level with slopes timber covered below 1700 to 1800m and generally glacier covered above 2000m. Vegetation includes alpine meadows, ranging to scrub spruce and balsam with balsam and spruce at lower elevations, and open pine and spruce forest and local dense alder chutes further west. Water is available year round from the north and south forks of the Bridge River, Thunder and Nichols Creeks and other southerly flowing tributaries of the Bridge River drainage, near its headwaters (see Figure 2).

The area has hot, dry summers and cold winters with high snowfall. The exploration season extends from May through October, although the higher elevations can be snow covered into July.

Although there do not appear to be any topographic or physiographic impediments, and suitable lands appear to be available for a potential mine, including mill, tailings storage, heap leach and waste disposal sites, engineering studies have not been undertaken and there is no guarantee that such areas will be available within the subject property. The nearest source of power is just west of Goldbridge.

6.0 HISTORY

The exploration history on the property is generally poorly documented and has been conducted separately on three main copper showings covering a 12 km extent of mineralization; the Nichol (Minfile 092JW 009) to the east, with the Russnor (Griswold Minfile 092JW 011) in the centre and the BR (Minfile 092JW 010) to the west (see Figure 2). There appears to be some confusion between the first two showings in the early stages with the Nichol showing originally referred to as Griswold (Dolmage, 1929) and the Griswold as Monte Don and later as Russnor, never as the Griswold showing. Consequently, the documented Griswold Minfile showing (092JW 011) will be referred to as Russnor in this report.

Historical exploration on the Mike Project undertaken between 1929 and 1987, prior to initial acquisition by Cresval Capital Corporation, has involved approximately 95m of underground development in two adits (Table 2), 1790.4m of diamond drilling in 25 holes, hand trenching and chip sampling, all focused on the three known showings. Limited mapping, and preliminary rock and soil geochemistry were completed on the Nichol and Russnor showings with more complete mapping and a grid soil survey at the BR. A reconnaissance magnetic survey was completed in the Nichol area with grid magnetic and induced polarization surveys over the BR showing area. TABLE 2: Adit specifications Adit Northing Easting Elev. (m) Az. () Length (m) Nichol 5643691N 474668E 1865 080 32.9 Russnor 5639900 N 470128E 1500 350 62.5 TOTAL: 95.4

A summary of the historical work completed by various operators on the individual occurrences, as documented in British Columbia Minfile, reports on file with the government (e.g. Annual Reports of and assessment reports filed with the British Columbia Ministry of Energy and Mines and publications of the Geological Survey of Canada) and various private company data, is tabulated below separately for each showing:

Nichol (originally Griswold): 1928 Discovery of chalcopyrite bearing quartz, estimated to contain 10-15% Cu, by H. Griswold (Dolmage, 1929) and staked as B.R.C. claims. The location and style of mineralization corresponds to the Nichol showing but is under the heading “Griswold”.

1929-30 Trail construction, prospecting by Cominco under option from Griswold (Minister of Mines, 1929-30 - under the heading “Griswold”). 1930-1936 Explored by extensive hand trenching with results including 4.28% Cu over 2.2m, and a 33m long adit by Cominco, which did not reach its target (private data).

1963 Reconnaissance mapping, magnetic survey and soil grid (440 samples) (delineating copper anomalies in adit area and 900m to the north near a weak gossan) by Phelps Dodge Corp. (Meyer, 1963). 1979 Diamond drilling of 30.5m in 2 X-ray holes near adit with 3.5% Cu, 0.079% Mo over 8.5m from 79-S2 (Polischuk et al., 1981).

1981 Diamond drilling of 381m of BQ core in 8 holes in central showing area by Goldbridge Development Corp. with 1.32% Cu, 0.04% Mo over 1.5m from 81-1 and 0.97% Cu over 3.05m from 81-3 (Polischuk et al., 1981).

1987 Delineation of drill holes and old trenches, rock sampling and soil survey (200 samples) by G. Polischuk, which delineated a copper in soil anomaly 300m east of the weak gossan and two gold in soil anomalies west of Nichols Creek (Polischuk, 1987).

Russnor (originally Monte Don, marked as Griswold in Minfile):

1930 Discovery by H. Griswold for Cominco, with results of 3.08% Cu over 4.6m from main showing. Cominco held the property from 1930-42 (private data).

1930-36 Explored with prospecting, trenching and adit (62.5m) by Cominco delineating a 70m wide mineralized zone in the canyon of Thunder Creek, yielding 1.1% Cu over a 12.2m true width from the adit and 0.57% Cu over 60m from the canyon to the south (private data). Showing #3 was discovered approximately 2 km to the northeast with 3.26% Cu over 9.1m and 0.44% Cu across 24.5m (private data).

1955 Evaluation by Noranda on Russnor, held by Len J. Russell returning 1.11% Cu over the inner 26.2m of the adit and 4.27% Cu over 7m from the portal zone (private data).

1961 Rehabilitation and sampling of adit and diamond drilling of 613m in 5 AQ holes in showing area by Phelps Dodge Corp. of Canada Ltd. under option from Russell (Minister of Mines, 1961). The work is erroneously under the heading “B.R.” Significant mineralization was intersected in 4 of 5 holes, including 0.091% Cu over 48m and 0.30% Cu over 36.6m (Phelps Dodge, 1961).

1969 Diamond drilling of 51.2m in 2 X-ray holes near adit by Thunder Creek Mines Ltd. who bought the central Russnor claims covering the showing. The entire holes assayed 0.30% Cu over 26.5m and 0.14% Cu over 23.9m. Property examination and evaluation, including chip sampling of canyon and adit, was conducted by Allen Geological Engineering Ltd., with the portal returning 1.19% Cu over 12.2m and the cliffs 18.3m southeast of the portal returned 0.31% Cu over 9.1m (Allen, 1969).

1970-71 Sampling of the inner portion of the adit returned 1.38% Cu over 30.5m (Elwell, 1970). Limited mapping and preliminary soil sampling (37 samples) delineated an open 600m long soil anomaly with peak values of 915 ppm Cu and 47 ppm Mo, by Cerro Mining Co. of Canada Ltd. under option from Thunder Creek Mines Ltd. (BCDM, 1970-71).

1972 Possible diamond drilling totaling 124.7m in four holes by New Jersey Zinc Exploration Co. on Russnor 4 claim, (BCDM, 1972). The work is under the heading “Griswold.” Results could not be located.

BR:

1961 Discovery and trenching by Phelps Dodge Corp. of Canada Ltd. with results (no Mo, Au or Ag analyzed) ranging from 0.15% Cu over 15m to 0.57% Cu over 7.6m (Enns and Lebel, 1980). 1969 Blast trenching and hand sampling by Mr. Les Kiss with results ranging from 0.08 to 0.85% Cu (Borovic and Cannon, 1970). 1970 Induced polarization geophysical survey (2.5-3 line km), soil sampling and preliminary mapping by Canex Aerial Exploration Ltd., defined a 30-60m by 900m copper rich zone on cliffs with mineralization extending about 200m beneath basalt cap, suggested by the geophysics (Borovic and Cannon, 1970; Cannon, 1970).

1971 Diamond drilling of 590m in four holes by Canex with 0.134% Cu over 9m (no Mo analyzed) reported in bottom of DDH 1 (Enns and Lebel, 1980).

1979 Restaked by Esperanza Exploration Ltd. and optioned to Amax (Enns and Lebel, 1980).

1980 Property scale mapping, including delineation of old drill holes and trenches, mapping and sampling of select trenches, rock sampling, soil (275 samples) and stream sediment surveys and magnetic (8.5 line km) and induced polarization geophysical (7.5 line km) surveys were conducted by Amax of Canada Ltd. under option from Esperanza Exploration Ltd. (Enns and Lebel, 1980).

The magnetic survey produced a uniformly flat response except for an intense magnetic high associated with a basaltic neck and the induced polarization survey indicated only weakly anomalous frequency effects and was unable to penetrate the basalt cap (Enns and Lebel, 1980).

The Mike Project (referred to as the Bridge River Project until 2015) was acquired by Cresval Capital Corporation (Cresval) in 2005, with additional claims added in 2007, 2009, March, 2010 and November, 2011. Exploration by Cresval, conducted between 2005 and 2017, has included: prospecting, mapping and sampling; a 7.8 line km induced polarization geophysics/MMI soil survey over the Canyon zone; a 4.0 line km soil survey and 47.35m of hand trenching on the Copper Plateau (above the BR showing); construction of a 2.0 km access trail into, and a 13.5 line km soil survey on, the Russnor showing; a 3.5 line km soil survey over the Windy Copper showing; 2031.5m of diamond drilling in 9 holes testing the Copper Plateau with 5 holes and the Russnor Breccia with 4 holes; and an 1149 line km airborne magnetic and radiometric survey, with interpretation.

The work conducted over the Mike Project by Cresval will be discussed under section 9.0, “Exploration”. All drill programs are discussed under section 10.0, “Drilling”.

7.0 GEOLOGICAL SETTING

7.1 Regional Geology (Figure 4)

The Mike Project lies within the southeastern Coast Belt dominated by Cretaceous to Tertiary aged intrusive rocks of the Coast Plutonic Complex (shown in shades of pink and red on Figure 4). To the east, the Coast Plutonic Complex intrudes Triassic to Jurassic island arc related volcano-sedimentary rocks of the Cadwallader terrane, Mississippian to Jurassic marine volcano-sedimentary rocks of the Bridge River terrane, upper Cretaceous Powell Creek volcaniclastic rocks (dark green) and Jura-Cretaceous sedimentary rocks of the Tyaughton Basin, shown in yellow (refer to Figure 4).

The regional area of the Mike Project has not been recently mapped. The most recent regional mapping was by Roddick and Woodsworth (1977). The surrounding area was mapped by Schiarizza et al. (1997) and a digital compilation was completed by Cui et al. (2017), updating the ages of the lithological units. The Bridge River pluton was discovered and delineated as a separate, younger pluton by the Geological Survey of Canada in 1928 (Dolmage, 1929), with this boundary being shown in Figure 4.

Within the regional area, the Coast Plutonic Complex primarily consists of Late Cretaceous quartz diorite (LKqd) and granodiorite (LKgd) intrusions; the latter includes the Dickson – McClure Batholith along the eastern margin of the Complex. Locally younger Late Cretaceous to Paleogene granodiorite (LKPeBgd) to quartz monzonite (LKPqm) intrusions intrude the above; the former (LKPeBgd) includes the Lord River pluton, of the Bendor plutonic suite, primarily exposed to the north, west and southwest of the property. The “LKPqm” pluton which underlies the Mike Project will be informally referred to as the Bridge River pluton in this report. The Miocene aged Salal Creek pluton of quartz monzonite composition, which hosts the Salal porphyry molybdenum prospect just south of the Mike Project, represents one of the youngest intrusions within the Coast Plutonic Complex (see Figure 4).

The intrusive rocks are locally overlain by flat lying Pleistocene aged plateau basaltic lavas of the Garibaldi Group (Plev) (shown in light green on Figure 4).

Economically, the eastern margin of the Coast Plutonic Complex is known for calcalkaline porphyry coppermolybdenumgold mineralization with numerous Minfile occurrences within the Dickson-McClure Batholith, 10-15 km northeast of the Mike Project. The occurrences include the 2014 IKE porphyry copper-molybdenum-silver discovery of Amarc Resources Ltd. (affiliated with Hunter Dickinson Inc.), where a mineralized system measuring at least 3.5 km by 2 km has been delineated with initial drill results from 2014 to 2016 including 0.39% Cu, 0.03% Mo, 2.8 g/t Ag over 148m in DDH 20, and 0.30% Cu and 0.032% Mo, 2.1 g/t Ag over 591m in DDH 13 (Amarc, 2017). The above information has not been independently verified by the author and is not necessarily indicative of the mineralization on the Mike Project which is the subject of this report. The Mike Project adjoins and displays a similar footprint, age and geological setting to the IKE discovery. The Poison Mountain porphyry copper-gold-molybdenum- silver deposit is located 60 km to the northeast of the Mike Project, and is also associated with a Paleogene intrusion.

Minfile occurrences faults

LKTg N Upper Cretaceous Jura-Cretaceous Poison Mtn. Powell Creek Fm. Tyaughton Basin volaniclastics area of numerous Cu ±Mo ±Ag ±Au porphyry occurrences Tri-Jur IKE Cad- wallader 920 LKgd Terrane 92J

LORD PLUTON LKPeBgd Mississippian-Jurassic Nichol Bridge River Terrane Plev BRIDGE RIVER PLUTON Plev Plev Russnor Carpenter BR LKqd LKPqm Lk HURLEY RIVER LKTg PLUTON Pleistocene volcanic BRIDGE LKTg Downton rocks Plev RIVER Lk Miocene LKgd SALAL CK Cretaceous to Tertiary Bralorne PLUTON Coast Plutonic Complex Gold Camp Legend in text, after Cui et al., 2017 FIGURE 4: REGIONAL GEOLOGY on page 16 JPEx Dec., 2017 SCALE 10 km

465000E 475000E N m cgl

2000 5645000N South Chilcotin Thunder 35 LKPeBgd Mtns. Park LORD PLUTON Plev 092JW 009 NICHOL SNOWFIELD fault 092J.094 092J.092 092J.093 WINDY COPPER Nichols Creek Basalt BRIDGE RIVER LKqd PLUTON gossan Plev 25 gossan BORNITE 092JW 011 RUSSNOR TREND 5640000N LKPqm CU PLATEAU Plev 2200 m 20001980 Copper zone 092JW 010 BR m BRIDGE FORK LKPqm Plev NORTH UBR LKPqm Creek

RIVER Plev CANYON – pyrite halo 5635000N 35 LKPeBgd PLUTON RGS ANOMALY, ppm Cu 092J.084 092J.082 092J.083 mafic, felsic dykes LORD PLUTON 470000E

m Minfile showing LKgd 1200 Other showing BRIDGE RIVER Legend in text, on page 16 Plev after Cui et al., 2017 SALAL CREEK LKgd PLUTON Miqm SCALE 2 km JPEx December, 2017 FIGURE 5: PROPERTY GEOLOGY

7.2 Property Geology (Figure 5)

Less than 20% of the Mike Project has been mapped in detail; consequently the base used in Figure 6 is from Cui et al. (2017) with modifications based on property mapping programs. Historical mapping has included reconnaissance mapping by Phelps Dodge Corp. on the Nichol area in 1963 (Meyer, 1963), limited mapping by Cerro Mining Company on the Russnor in 1970 to 1971 and preliminary mapping by Canex Aerial Exploration Ltd. on the BR in 1970. Cresval Capital Corp. completed mapping on: the Russnor and Nichol areas in 2005; the Canyon zone in 2007; the BR and Windy Copper showings in 2008 and 2009; and the BR, Russnor and Windy Copper showings in 2010, with discovery of the Snowfield zone.

The Mike Project is primarily underlain by the probable Paleogene aged Bridge River pluton (LKPqm), which intrudes Late Cretaceous quartz diorite (LKqd) of the Hurley River pluton to the east, Late Cretaceous granodiorite to the south, and adjoins the Lord River pluton (LKPeBgd), a larger, similarly aged granodiorite body, to the north, west and southwest. The intrusive rocks are locally overlain by flat lying Pleistocene aged plateau basaltic flows (Plev) and intruded by related basalt to diorite feeder dykes (shown in green) and felsite, quartz porphyry and feldspar porphyry dykes (shown in yellow). The Miocene aged Salal Creek pluton (Miqm), of quartz monzonite composition, occurs southeast of the property. (Refer to Figure 5.)

The Bridge River pluton was first discovered by the Geological Survey of Canada in 1928 and described as a younger white granite with a soda granite composition, consisting of 40% quartz, 40% albite-oligoclase, 5% orthoclase and 15% biotite (Dolmage, 1929). The boundary of the pluton has been extended to the south in Figure 5 based on property scale mapping by the author for Cresval and mapping on the adjoining Mackenzie Project of Carube Copper Corp. (Garcia, 2012).

Those parts of the Bridge River pluton examined during the 2005 and 2007 to 2011 programs in the Canyon, Nichol, Russnor and Windy copper showing areas are consistent with a granite composition, but quartz monzonite predominates in the BR showing area and southeast of Russnor, with local alkali granite compositions at BR (Enns and Lebel, 1980). The contact between the Bridge River pluton and the older quartz diorite, where observed above (east of) the Nichol showing in the eastern property area, is exposed as a fault. The southeastern extension of this fault appears to be associated with mineralization along the Bornite Trend on the adjoining Mackenzie Project of Carube Copper Corp. (Garcia, 2012).

An age of 45.4 Ma was obtained from the southeastern portion of the Bridge River pluton (http://www.em.gov.bc.ca/Mining/Geolsurv/MapPlace). This age is the same as that for mineralized intrusive on the IKE Project of Amarc Resources Ltd. (Diane Nicolson, personal communication).

A mineralized intrusive breccia (Russnor Breccia) occurs within the Bridge River pluton at the Russnor showing and is exposed for 80m in the canyon walls of Thunder Creek, in the adit and in the core from the 1961 drill program by Phelps Dodge Corp. The

20 breccia consists of clast supported subangular fragments of granite with varying amounts of sulphide cement. Six small quartz monzonite breccia pipes have been identified in the vicinity of the BR showing but largely appear to be post mineral with the exception of the breccia bodies north of DDH 71-4, which appear weakly hydrothermal at surface (Enns and Lebel, 1980).

Flat lying Pleistocene basalts unconformably overlie the intrusive rocks with a discontinuous regolith, up to 10m wide, exposed at the base. The regolith (cgl), primarily observed northwest of the Nichol showing, consists of rounded pebbles to boulders of granite cemented by basalt. The regolith was also intersected in DDH 71-3 at the BR showing and in DDH RS11-08 at the Russnor showing. The basalt is generally brownish to black in colour, locally dark green near the base, porphyritic, highly vesicular and commonly exhibits columnar jointing. Interflow sedimentary rocks are intercalated with the basalts, at the base of the lavas northwest of the Russnor showing and southwest of the Nichol showing.

The extent of the basalt cover is greater than shown on the regional geology map in Figure 4, covering about 30% of the property. Unmapped Pleistocene basalts were encountered in the Canyon area in 2007 and the eastern basalt exposure in Figure 5 was found to locally extend further to the west, almost to Thunder Creek, and further south.

Basaltic and diorite dykes, probable feeders to the lavas, intrude the plutonic rocks. Andesite dykes also occur and may be related to the Pleistocene volcanic lavas or possibly earlier. Northwest to northerly trending felsite and quartz porphyry dykes, an easterly trending latite feldspar porphyry dyke at the BR showing area and latite dykes and volcanic rocks in the Slide Creek area south of the Russnor showing also intrude the granite and are probably associated with Pleistocene plutonism. Diorite dykes cut the feldspar porphyry at the BR showing (Borovic and Cannon, 1970). A 4m wide, 315º trending gabbro dyke was mapped in the Windy Copper area.

The 2009 trenches on the Copper Plateau consist entirely of quartz monzonite except for one basalt dyke at the south end of Trenches 09-9 and 09-11, possibly trending east-northeasterly, and a northerly trending basalt dyke at the east end of Trench 09-14.

7.3 Mineralization (Figure 5)

The Mike Project covers the historical Nichol (Raelode), Griswold (Russnor, Mel), Red Creek and BR (Bridge River, BR 4) Minfile copper porphyry showings (Figure 5) as documented by the British Columbia Geological Survey Branch as Minfile Numbers 092JW 011, 092JW 009, 092JW 053 and 092JW 010 (Minfile, 2017). The Nichol showing was the original Griswold showing staked as the B.R.C. claims (Bridge River Consolidated Mining Claims) and the Griswold Minfile showing was known as the Monte Don showing. Red Creek is a chalcopyrite and molybdenite bearing gossan in the northern Monte Don showing area. Due to confusion with the name Griswold, the

Griswold Minfile showing will be referred to by its alternate name, the Russnor, by which it was known in the 1950’s to 1960’s.

Work by Cresval Capital Corp. resulted in the discovery of significant additional showings, which have been identified as Minfile showings by the British Columbia Geological Survey Branch and include the Copper Plateau or NBR, and the Windy and Snowfield Copper Minfile showings. The porphyry copper Minfile showings, with associated gold, silver and molybdenum values, cover a 12 km extent within the granitic Bridge River pluton. Other showings include the Canyon zone (pyritic and altered granite discovered in 2007 that may represent a pyritic halo to the porphyry copper system), and the UBR (reported as minor fracture controlled and blebby chalcopyrite mineralization).

Mineralization at the Nichol showing appears to occur as quartz-sulphide and sulphide veins, pods and fracture fillings exposed over a 600m by 400m area, hosted by the Bridge River pluton. Sulphide minerals consist of chalcopyrite and pyrite. Individual veins trend 015 to 065, dipping moderate to steeply easterly, with an overall trend to the mineralized zone of approximately 010. Disseminated chalcopyrite is widespread between the veins within the granite host but is difficult to completely sample due to lack of exposure, interspersed with cliff outcrops. Alteration includes silica, pyrite, sericite, potassic alteration and local kaolinization.

Above (east of) the Nichol showing, disseminations and massive pods to 10 cm wide of chalcopyrite and molybdenum occur with kaolinite, potassium feldspar and silica alteration and quartz veins in tension gashes along the fault contact between the Bridge River pluton and the older quartz diorite. In addition a weak gossan with minor pyrite and chalcopyrite mineralization is associated with kaolinite and minor potassium feldspar altered fault and shear zones trending 330-350/40-60NE, approximately one km north of the showing in the Nichols Creek canyon.

Mineralization at the Russnor showing consists of disseminated, blebby and poddy chalcopyrite, bornite and pyrite with trace molybdenite hosted by an intrusive breccia that may trend 330/85W within the Bridge River pluton. Wallrock alteration consists of chlorite, sericite and potassium feldspar. The mineralization is incompletely exposed within an 80m long canyon along Thunder Creek, where malachite and azurite have locally resulted in distinct green and blue staining of the walls.

There is a lack of outcrop between the canyon on Thunder Creek and cliff exposures at elevations greater than 1700m. Stockwork type quartz-sulphide veins and fracture fillings mineralized with chalcopyrite and minor molybdenite are exposed at the higher elevations on the western side of Thunder Creek, with a distinct strong gossan exposed in the upper part of Red Creek. On the east side of Thunder Creek mineralization is not exposed due to the basalt cover and lack of outcrop. Another gossan, which has not been investigated lies above the bend in Thunder Creek across from (west of) the end of the logging road.

A gossan was found by Cominco about 900m southeast of the Russnor adit, but was reported to be poor in minerals on surface. The gossan was located in 2009 along Slide Creek, a slide area which fills a major tributary on the east side of Thunder Creek, above the trail into the Russnor showing. Chalcopyrite mineralization is associated with 025-030°/steep trending muscovite ±quartz ±magnetite and limonitic ±pyrite fractures in granite. Chalcopyrite commonly replaces magnetite.

The Windy Copper showing covers a 1 km by 400m copper mineralized area (limited by cover of the younger basalts), approximately 3 km to the northwest of the Russnor showing. The zone consists of west dipping, primarily northerly to northwesterly trending (025º to 340º) quartz ±sulphide (chalcopyrite, bornite ±tetrahedrite) stringer-stockwork veins and fracture fillings mineralized with chalcopyrite hosted by well fractured silica- sericite altered granite with disseminated chalcopyrite ±bornite.

In the Canyon area along the North Fork of the Bridge River, red coloured gossanous outcrops of the Bridge River pluton are exposed beneath the overlying Pleistocene aged basaltic rocks. The granite is pyritized and magnetite was observed replacing biotite. A red coloured bubbling odorous (possibly sulphurous) spring occurs further downstream. The pyrite and magnetite altered granite may represent the pyritic halo of a porphyry system. A 6m wide northerly trending quartz feldspar porphyry dyke, exposed in the Canyon area is also pyritized and highly oxidized resulting in a yellow colour for the dyke with red margins.

Copper mineralization at the BR showing extends over a 1.7 km by 0.5 km area with a central higher grade zone 1.45 km by 150 to 300m wide, exposed along south facing cliffs north of the North Fork of the Bridge River. The mineralization consists of chalcopyrite, cupriferous limonite, chrysocolla, malachite, azurite, tenorite, bornite, chalcocite, magnetite and trace molybdenite in fractures with sericite and quartz gangue (Borovic and Cannon, 1970). The mineralized fractures trend 340º, 010º and 035º, dipping 20º and 35ºE (Borovic and Cannon, 1970). The predominant mineralized fracture set identified in 1980 was 350-010º/50-70ºE (Enns and Lebel, 1980). The main mineralized fracture and vein trends noted in 2008 and 2009 were 345-020º/40-50º, 85°E and 055-100º/50-60º, 85°N trends, with a predominance on northerly and northeasterly trends (Pautler, 2010b).

Alteration primarily consists of widespread propyllitization with fracture controlled sericite and potassic alteration. Silicification is evident in the breccia body north of DDH 71-4 (Enns and Lebel, 1980). Deep oxidation occurs on the property but based on low pyrite content, minimal supergene transport was suspected (Enns and Lebel, 1980).

The best grade mineralization at the BR showing is best exposed in a 200m long by 100m wide zone centred in the upper part of West Gully at 5639215mN, 464640mE. The eastern end of this zone was explored by a series of trenches in 1961 and 1969. Re-sampling in 1980 returned significant results including 0.19% Cu across 6m and 0.14% Cu over 17m (Enns and Lebel, 1980).

In 2008 to 2009, mineralization was traced into the plateau area above the BR (more amenable to open pit mining than the mineralized cliffs to the south). A 450 by 550m copper in soil anomaly was delineated on the Copper Plateau (open onto the copper bearing cliffs to the south and open to the east) with a maximum value of 4120 ppm Cu and 75 ppb Au, and 457 ppm Mo in soil obtained 1.5 km northeast of the grid. Significant 2009 hand trench results, limited by the length of the trench, include 0.49% Cu over 4.5m and 0.84% Cu over 2.8m. Numerous quartz-sulphide veins (with chalcopyrite and molybdenite) occur throughout the Copper Plateau and BR showing areas.

Minor fracture controlled and blebby chalcopyrite mineralization occurs within small 0.5m quartz-potassium feldspar pods hosted by granodiorite at the Upper Bridge River (UBR) showing, south of the North Fork of the Bridge River (Enns and Lebel, 1980), but was not found in 2008, apparently located 500m further upstream at approximately 5637706mN, 463164mE, Nad 83 Zone 10 (Figure 5).

8.0 DEPOSIT TYPE

The deposit model for the Mike Project is the bulk-mineable plutonic hosted, calcalkaline porphyry coppermolybdenumgold model. Examples include Highland Valley Copper and Gibraltar in British Columbia and Chuquicamata, La Escondida and Quebrada Blanca in Chile. Commodities are copper, molybdenum and gold in varying quantities with minor silver in most deposits. The following characteristics of the calcalkaline porphyry coppermolybdenumgold deposit model are primarily summarized from Panteleyev (1995).

Mineralization typically occurs as sulfide-bearing veinlets, fracture fillings and lesser disseminations in large hydrothermally altered zones (up to 100 ha in size) with quartz veinlets and stockworks, commonly wholly or partially coincident with intrusion or hydrothermal breccias and dyke swarms, hosted by porphyritic intrusions and related breccia bodies. Sulfide mineralogy includes pyrite, chalcopyrite, with lesser molybdenite, bornite and magnetite. Two main ages of mineralization are evident in the Canadian Cordillera, Triassic to Jurassic (210-180 Ma) and Cretaceous to Paleogene (85-45 Ma).

Alteration generally consists of an early central potassic zone that can be variably overprinted by potassic (potassium feldspar and biotite), phyllic (quartz-sericite-pyrite), less commonly argillic and rarely, advanced argillic (kaolinite-pyrophyllite) in the uppermost zones.

Regional faults are important in localizing the porphyry stocks with fault and fracture sets (especially coincident and intersecting multiple sets), an important ore control. Other ore controls include internal and external igneous contacts, cupolas, dyke swarms and intrusive and hydrothermal breccias. Associated deposit types include skarn, porphyry gold, low and high sulphidation epithermal systems, polymetallic veins and sulphide mantos and replacements.

9.0 EXPLORATION (Figures 6 to 14)

Exploration by Cresval Capital Corp. from 2005 to 2017 has included: prospecting, mapping and sampling; a 7.8 line km induced polarization geophysics/MMI soil survey over the Canyon zone; a 4.0 line km soil survey and 47.35m of hand trenching on the Copper Plateau (above the BR showing); construction of a 2.0 km access trail into, and a 13.5 line km soil survey on, the Russnor showing; a 3.5 line km soil survey over the Windy Copper showing; 2031.5m of diamond drilling in 9 holes testing the Copper Plateau with 5 holes and the Russnor Breccia with 4 holes; and a high resolution airborne magnetic and radiometric geophysical survey with subsequent interpretation. At least $100,000 has been spent by Cresval on the Mike Project in the last three years, consisting of the airborne survey and interpretation.

Mapping and prospecting is discussed under sections 7.2, “Property Geology” and 7.3, “Mineralization”. The drill program is discussed in detail under section 10.0, “Drilling”. The remainder of the work is discussed under the respective sections below.

9.1 Soil Geochemistry (Figures 6 to 8 and 13)

A 7.7 line km, 170 sample MMI soil survey was completed by Geotronics Consulting Inc. for Cresval Capital Corp. in July, 2008 above the Canyon zone (Figure 6), a highly pyritic zone within the Bridge River pluton discovered in 2007 (Pautler, 2008). The survey outlined two open ended 400m long copper-zinc-silver soil anomalies, with associated gold and molybdenum values, with one 800m wide and the second 50 to 100m wide, trending north-northeast (Mark, 2009). The anomalies are limited in size and may be related to the margins of the porphyry system.

Cresval completed a 4 line km conventional soil survey on the Copper Plateau in 2009. A total of 169 grid soil samples were collected from the B horizon with a pelican pick at an average depth of 25 to 30 cm by Mr. Gary Polischuk and placed in waterproof Kraft bags to evaluate extensive copper mineralization noted on the plateau area north of the BR showing. Mr. Polischuk has extensive experience and good success as a prospector. The samples were collected generally at a 25m sample spacing (locally with a 12.5m sample spacing) along east-west trending lines 100m apart and along a north trending baseline.

The soil survey delineated a 450 by 550m greater than 100 ppm copper in soil anomaly with a peak value of 4120 ppm Cu, and is open onto the copper bearing cliffs to the south and open to the east (Figure 13). No significant molybdenum, silver or gold anomalies were obtained. An isolated soil sample collected over 200m north of the grid returned 1260 ppm Cu, 35 ppb Au and 5.4 ppm Ag. Another soil 1.5 km northeast of the Copper Plateau on the east side of the basalt cap contained an anomalous 457 ppm Mo. It is possible that mineralization may be present beneath the basalt cap in this area.

In 2010 a total of 693 grid soil samples were collected by Geotronics Consulting Inc. for Cresval, with 552 on the Russnor grid (Figure 7) and 141 on the Windy Copper grid (Figure 8). The samples were collected at a 25m sample spacing along east-west

25 trending lines 100m apart from the B horizon with a pelican pick usually within 10 cm of the surface and placed in waterproof Kraft bags.

A large, strong copper-silver-gold soil anomaly was delineated on the Russnor grid (Russnor Anomaly). The northerly trending Russnor Anomaly consists of an open ended 1 km long by up to 600m wide copper-silver-gold anomaly (peak values of 985 ppm Cu, 81 ppb Au and 71.1 ppm Mo) with associated molybdenum, antimony, and zinc along the west side of Thunder Creek (Figure 7). A cobalt anomaly is defined on the western edge, suggesting a pyrite halo, which commonly surrounds porphyry copper deposits. Previous work, including the adit and drilling on the Russnor showing, are restricted to a 150m long zone of lower intensity along the eastern edge of the Russnor Anomaly (Figure 7).

The soil survey on the Windy Copper showing delineated a 400 by 350m copper in soil anomaly, with associated lead, zinc, gold and arsenic, over the Contact and Showing #3 zones (Contact Anomaly). The anomaly contains peak values of 797 ppm Cu, 84.1 ppb Au and 3.3 ppm Mo, and is open to the southeast under basaltic cover rocks. An open ended 550m by 125m wide northeast trending gold, arsenic, and zinc anomaly with correlating values in copper, silver and lead (Windy Anomaly) lies northwest and peripheral to the Contact Anomaly (Figure 8).

FIGURE 6 N claim boundary CANYON ZONE Cu in MMI SOILS from Mark, 2009

grid location

N 13.5 line km 481 soil survey in 2010

Location of 2011

Russnor drilling 50

high 2

open ended

RUSSNOR 1 km long

Russnor

SOIL ANOMALY 600m wide Cu-Au-Ag

low +Mo, Sb, Zn Trail Peak values: RUSSNOR BRECCIA 985 ppm Cu FIGURE 7 81 ppb Au RUSSNOR ANOMALY 71.1 ppm Mo Location of 2011 Russnor drilling over 2010 Copper in Soils 200m after Mark, 2010 JPEx, 2011

Windy Anomaly N 3.5 line km open 550 by 125m soil survey in Au-As-Zn 2010 +Cu, Ag, Pb

315 Windy Anomaly Contact Anomaly 400 by 350m open to S & SE 40 Cu +Pb, Zn, Au, As Contact Anomaly Peak values: 797 ppm Cu Contact Zone 84.1 ppb Au 12 3.3 ppm Mo 100m

Showing #3 Figure 8 WINDY COPPER SHOWING Copper in Soils after Mark, 2010

9.2 Trenching (Figures 12 to 13)

Extensive historical hand trenches (14) were excavated by Cominco between 1929 and 1930 on the Nichol showing, which were partially documented in 1987 (Polischuk, 1987) and in more detail during Cresval’s 2005 program in which 20 samples were collected from the 13 trenches found. Highlights are shown in Table 3 below with trenches shown on Figure 12 on page 35. The trenches or open cuts explored five quartz-sulphide veins, generally 0.5 to 2m in width, over a 600m by 400m area and 140m vertical extent.

TABLE 3: Nichol trench specifications and results Trench UTM Nad 83, Zone 10 Elev. Azimuth Result Summary No. Northing Easting (m) () 2005, unless specified T-1 5643976 474737 1860 060 2.08% Cu/4.5m*; 11.7% Cu 1987 grab T-2 5643862 474777 1910 360 up to 0.16% Cu, 0.016% Mo N of T-2 5643890 474791 6.25% Cu in float, 25m north of T-2 T-3 5643843 474773 1910 360 0.15% Cu T-4 5643627 474736 1905 pit 7.65% Cu, 26.2 g/t Ag, 0.11% Mo grab T-5 5643702 474724 1885 075 1.94% Cu/4m*, incl. 4.73%/1m T-6 5643662 474662 1860 020 overburden T-7 5643649 474626 1845 020 1.7% Cu/3m*; 23.4% Cu, 0.54 g/t Au grab T-8 5643725 474760 1920 5.37% Cu, 64 g/t Ag grab; 0.49%Cu/ 3.5m* T-9 5643652 474740 1910 360 8.91% Cu, 33 g/t Ag, 0.043% Mo grab T-10 5643997 474767 1865 pit granite T-11 5644004 474797 1875 360 rusty soil, no exposure T-12 5643690 474863 2000 045 3.32% Cu grab; 0.84% Cu/4m* T-13 5643502 474697 1905 360 12.8% Cu in float from below (1987) * denotes weighted average

Cresval located and sampled many of the old 1960’s trenches at the BR showing in 2008 and 2009 (Pautler 2010a), which were mapped and sampled in 1980 (Enns and Lebel, 1980). Results from the programs are shown in Table 4, below. No significant molybdenum values were obtained. The trenches were found to transect a well fractured mineralized zone related to northerly trending fractures, primarily dipping 40- 50º east. TABLE 4: BR trench results 1980 2008-2009 Trench Width Cu Sample Width Cu Au No. (m) (%) No. (m) (%) (ppb) 2W 17 0.14 13882 10 0.25 15 2E 6 0.19 14587 grab 2.13 450 3 12 0.10 14589 1.5 0.77 35 3 14590 grab 0.98 80 4 7 0.12 14588 grab 0.67 20 5 9 0.08 14586 grab 0.28 60 6 3 0.03 7 2 0.09

Assay results from the original 1961 trenches are reported to range from 0.15 to 0.57% Cu over 7.6m (Enns and Lebel, 1980). Blast trenching and hand sampling by Mr. Les Kiss in 1969 reportedly returned 0.08 to 0.85% Cu (Borovic and Cannon, 1970).

Abundant copper mineralization was encountered by Cresval in the plateau area (Copper Plateau) north of the main BR showing in 2008 to 2009, prompting the excavation of 15 hand trenches to determine the extent and orientation of mineralized fracture sets. A total of 45 rock samples were collected from the 47.35m of trenching. Trench specifications and results are outlined in Table 5 and shown on Figure 13.

TABLE 5: Copper Plateau 2009 trench specifications and results Trench Nad 83 Zone 10 Elev. Azimuth Length Cu Interval No. of No. Northing Easting (m) (º) (m) % (m) Samples TR09-1 5639593 464486 1940 160 1.35 0.69* 1.35 4 TR09-2 5639583 464493 1943 350 4.7 0.06* 4.7 4 TR09-3 5639592 464508 1939 355 7.3 0.13* 7.3 6 TR09-4 5639594 464512 1939 330 1.8 0.45* 1.8 4 TR09-5 5639602 464519 1938 330 7.4 0.06* 7.4 5 TR09-6 5639543 464691 1947 160 5.5 0.10* 5.5 4 TR09-7 5639597 464511 1584 150 1.0 0.36 1.0 1 TR09-8 5639724 464708 1955 195 3.6 0.009* 3.6 3 TR09-9 5639717 464699 1952 185 2.8 0.84* 2.8 3 TR09-10 5639533 464537 1944 075 1.5 0.02 1.5 1 TR09-11 5639695 464593 1945 150 4.9 0.49* 4.9 5 TR09-12 5639500 464499 1938 340 0.5 0.14 0.5 1 TR09-13 5639399 464703 1934 255 1.0 0.19 1.0 1 TR09-14 5639375 464703 1935 270 3.0 0.49* 3.0 2 TR09-15 5639554 464678 1949 270 1.0 0.05 1.0 1 TOTAL: 15 trenches 47.35 45 * denotes weighted average

The 2009 trenches consist entirely of quartz monzonite except for possibly one east- northeasterly trending basalt dyke at the south end of Trenches 09-9 and 09-11 and a northerly trending basalt dyke at the east end of Trench 09-14. The trenches encountered abundant quartz-sulphide veins with trends of 055°/50°E-85°W to steep west, 080°/steep N, 340°/90° and 070°, and mineralized fractures trending 055°/85°E and 187°/85°W.

Significant results were obtained from the trenching program in the Trench 09-1 to 09-4 and 09-7; Trench 09-12; Trench 09-11; Trench 09-9; Trench 09-6; and Trench 09-13 to 09-14 areas with intervals limited by the length of the hand trenches. In addition copper mineralization continues 400m to the east of the trenches to the contact with the overlying basalts. Significant mineralization exposed in East Gully further suggests continuity of mineralization beneath the basalt cover rocks.

9.3 Geophysics

A 7.8 line km induced polarization geophysical survey was completed by Geotronics Consulting Inc. for Cresval Capital Corp. in July, 2008 above the Canyon zone. The survey outlined two anomalies 400m long, with one 800m wide and the second 50 to

100m wide, trending north-northeast (Mark, 2009). The anomalies are coincident with copper-zinc-silver MMI soil anomalies (Figure 6), with associated gold and molybdenum and may be related to a pyritic halo to the porphyry copper system.

An 1149 line km high resolution airborne magnetic and radiometric geophysical survey was completed over the Mike Project between October 27 and November 2, 2015 by Precision GeoSurveys Inc. of Vancouver, British Columbia. The survey, which covers most of the current Mike Project area, utilized a helicopter-mounted cesium vapour magnetometer and a gamma ray spectrometer along east-west lines with a 100m line spacing and 1 km spaced north-south tie lines at a nominal ground clearance of 40m (Walker, 2016). The base of operation for this survey was the Tyax Wilderness Lodge, 39.7 km east of the Mike Project.

The magnetic survey (Figure 9) identified the areas underlain by the younger basalts as magnetic low anomalies (due to reversed polarity) with adjoining dipolar magnetic highs, and is best observed in the Total Magnetic Intensity (TMI) map (Figure 9). The signature can readily be seen at the prominent basaltic neck on the Copper Plateau. The Bridge River pluton exhibits a variable but moderate magnetic response. The older quartz diorite- granodiorite exhibits a uniformly higher magnetic signature.

Structures are best illustrated on the Calculated Vertical Gradient (CVG) map of the magnetic field (Figure 10). Probable first order northwest trends are evident with more abundant second or third order northerly trends. A few northeast trends occur, one of which bisects the Russnor showing. Structural intersections are important in the localization of mineralization in porphyry deposits and occur just south of the Russnor, at Windy Copper and southeast of the Copper Plateau.

The Russnor, Copper Plateau and Windy Copper showings were found to correspond to the edges of larger zones of elevated potassium over thorium ratios (Figure 11). Elevated potassium over thorium ratios are interpreted as potassic alteration, which is generally coincident with porphyry copper style mineralization. The potassic zones (more evident in detailed maps) occur at the junction of regional northwest trending vertical gradient magnetic lineaments with northeast trends; such fault intersections are favourable sites for the development of significant mineralization.

In the central property area a 1.5 by 0.75 km wide airborne potassic anomaly (Figure 11) incorporates the Russnor open ended 1 km long by up to 600m wide copper-silver-gold ±molybdenum soil anomaly, with the Russnor showing along its eastern margin. The Russnor showing covers a copper bearing intrusion breccia with reported historical results including 1.38% Cu over 30.5m in an old adit, 0.57% Cu over 60m from a canyon exposure and 0.30% Cu over 36.6m in diamond drilling.

10.0 DRILLING (Figures 12 to 14)

A total of 3084.9m of diamond drilling in 34 holes has been completed on the Mike Project between 1961 and 2011 in seven programs, which includes 1790.4m of historical drilling between 1961 and 1981, and 2031.5m of drilling in 9 holes in 2011 by Cresval Capital Corp. The historical drilling includes 664.3m in 11 holes on the Russnor showing, 411.5m in 10 holes on the Nichol showing, and 589.9m in 4 holes on the BR showing. In the drill tables “Elev.” denotes elevation and “Az.” azimuth. The drill programs are summarized in Table 6 below.

Table 6: Summary of drill programs on Mike Project Year Showing Company Holes Size Depth (m) 1961 Russnor Phelps Dodge 5 AQ 613 1969 Russnor Thunder Creek 2 X-ray 51.3 1971 BR Canex 4 BQ 589.9 1972 Russnor New Jersey Zinc 4 ? 124.7 1979 Nichol Goldbridge? 2 X-ray 30.5 1981 Nichol Goldbridge 8 BQ 381 BR 5 770 2011 Cresval NQ Russnor 4 524.5 34 3084.9

10.1 Previous Drilling

10.1.1 Nichol (Figure 12)

A two hole, 30.5m winkie drill program was undertaken at the Nichol adit in 1979 possibly by Goldbridge Development Corporation. In 1981 an 8 hole, 381m drill program was carried out by Goldbridge Development Corporation on the Nichol occurrence utilizing a BBS-1 drill with BQ wireline tools. The core cannot be located from either program but the 1981 drill locations were examined and recorded by the author in the field in 2005 (Pautler, 2006) and were previously recorded (Polischuk et al., 1981). Drill hole specifications are outlined in Table 7.

TABLE 7: Drill hole specifications – Nichol showing DDH UTM Nad 83, Zone 10 Elev. Az. Dip Depth No. Northing Easting (m) () () (m) 81-1 5643627 474667 1885 350 -45 33.5 81-2 5643627 474667 1885 350 -65 34.4 81-3 5643627 474667 1885 - -90 61.3 81-4 5643663 474699 1860 350 -50 58.8 81-5 5643663 474699 1860 350 -75 88.7 81-6 5643634 474752 1925 345 -48 36.9 81-7 5643634 474752 1925 345 -70 30.5 81-8 5643634 474752 1925 - -90 36.9 TOTAL: 381

Available results for both the 1979 and 1981 programs are reported in Table 8 (Polischuk et al., 1981). The entire assay data is not reported and the core was probably not assayed

35 in its entirety with visually higher grade or vein intervals selected for assay. Summary logs are available for DDH 81–1 to –5, but sample intervals are not listed. Visible chalcopyrite was noted between 61-69 feet in DDH 81-1, from 61-85 feet in 81-2 and from 145-155 feet in 81-3 (Polischuk et al., 1981).

TABLE 8: Drill results – Nichol showing DDH No. From (ft) To (ft) Interval (m) Cu (%) Au (oz/t) Ag (oz/t) Mo (%) 79-S1 13 33 6.1 2.56 0.003 0.22 0.025 79-S2 22 50 8.5 3.50 0.003 1.00 0.079 81-1 65 69 1.2 1.32 0.001 0.26 0.04 81-3 145 155 3.05 0.97 0.12 81-6 70 80 3.05 0.48 81-7 78 94 4.9 0.71 81-8 99 111 3.65 0.58

The drilling targeted higher grade quartz-sulphide “veins”. It appears that the winkie holes and DDH 81-1 intersected Vein 2, which is exposed at the adit with significant values in copper. Vein 2 appears to steepen to the southwest, as observed in Trench 7, resulting in DDH 81–2 and –3 possibly missing the main part of the vein. DDH 81–4 and –5 would also miss the southwestern strike extent of Vein 2, exposed in Trench 7 for the same reason. Neither hole would be long enough to intersect a steeply dipping vein. DDH 81–3 to 81–5 also intersected a high proportion of post mineral dykes. DDH 81–6 to –8 targeted Vein 3 exposed in Trench 9 and may have encountered the vein or possibly the hanging wall stockwork zone. Summary logs could not be located.

(151) 475000mE N LEGEND Granite Slide adit

T11 5644000mN trench, open cut T10 11.7% Cu (920) 1981 drill site Vein 1 T1 geological contact (6.25%) quartz vein with dip T2 COPPER 3 mafic, felsic dykes T3 COPPER 4 1987 baseline mineralized float (103) float sample T8 T12 T5 Vein 3 rock sample (4.73%) Quartz Diorite Granite soil sample Adit 1,2,3 Vein 4 Vein 2 T9 X moss mat sample BL 0N0E (22.8%) T6 T7 6,7,8 Camp 4,5 T4 RESULTS (975) anomalous Cu values T13 Vein 5 12.8% Cu 1987 result 12.8% Cu LKqd (950 ppm Cu) 2005 sample (114) X LKPqm unless specified in % (3.55%)

1800 m 1900 m SCALE: 0.1 km (51) X FIGURE 12 NICHOL SHOWING JPEx December, 2005

The drilling on the Nichol showing was directed to intersect the higher grade “veins” and did not test the porphyry potential of the prospect due to incomplete sampling. The discontinuity of the veins suggests that they may in fact represent silica-sulphide alteration that can occur in the core of a porphyry system.

10.1.2 Russnor (Figure 13)

Two diamond drill programs, totalling 664.3 metres in 7 holes, were completed on the Russnor showing in 1961 and 1969, testing the original showing area. Drill hole specifications are outlined in Table 9, with drill hole locations shown on Figure 13 and partially in Figure 7. Most of the 1961 drill sites were located and recorded by GPS in the field by the author in 2005 and 2008. A sixth drill pad was located further to the southeast at UTM coordinates 5639851mN/470245mE, Nad 83, Zone 10, which does not appear to have been drilled.

TABLE 9: Historical drill hole specifications – Russnor showing DDH UTM Nad 83, Zone 10 Elev. Az. Dip Depth No. Northing Easting (m) () () (m) 61-1* 5640042 470218 1519 250 -45 151.5 61-2 5640150 470224 1524 250 -60 163.2 61-3 5639910 470208 1517 250 -45 142.5 61-4 5639845 470150 1506 - -90 82.3 61-5 5639958 470088 1530 070 -48 73.5 69-1 5639900 470128 1520 065 -40 27.4 69-2 5639937 470138 1530 220 -45 23.9 TOTAL: 664.3 * not located but lies along trail in approximate area shown in Phelps Dodge, 1961

The 1961 Phelps Dodge drill program tested a 150m extent of the Russnor Breccia. The program utilized AQ size core, with greater than 90% recovery (personal observation). The core was located at the old cabin across from the showing on the east side of Thunder Creek at UTM coordinates 5639902mN, 470226mE, Nad 83, Zone 10, by GPS. Original logs with assay results were uncovered and are summarized in Table 10 below (Phelps Dodge, 1961). TABLE 10: 1961 drill results – Russnor showing DDH No. From (ft) To (ft) Interval (m) Cu (%) Host 61-1 161.5 260.5 30.2 0.064* breccia incl. 161.5 191.5 9.14 0.107* breccia 61-2 results not reported granite 61-3 111 338.5 69.3 0.074* breccia incl. 181 338.5 48.0 0.091* breccia 61-4 255 265 3.05 0.10 granite 61-5 78 208 36.6 0.30* granite, breccia incl. 148 198 15.24 0.51* mostly breccia *denotes weighted average

The 1969 core has not been located by the author but results were reported by Allen (1969) and are summarized in Table 11, below. The 1969 program utilized an X-ray drill,

37 with only 20% core recovery reported, indicating the probability that “the soft sulphide mineralization was ground up and lost” (Elwell, 1970). Despite the recovery problems, significant copper values were obtained from the drill holes with DDH 69-1 returning 0.30% Cu over 26.5m from DDH 69-1 and 0.14% Cu over 23.9m from DDH 69-2.

TABLE 11: 1969 drill results – Russnor DDH No. From (ft) To (ft) Interval (ft) Cu (%) Au (oz/T) Mo (%) 69-1 0 16 16 0.59 0.015 trace 16 32 16 0.44 0.01 trace 32 49.5 17.5 0.14 0.005 trace 49.5 65 15.5 0.26 0.005 trace 65 73.5 8.5 0.21 0.005 trace 73.5 87 13.5 0.10 trace trace 0 87 26.5m 0.30 weighted average 69-2 0 28 28 0.25 trace 0.008 28 39.5 11.5 0.10 trace trace 39.5 55 15.5 0.06 trace trace 55 69 14 0.11 trace trace 69 78.5 9.5 0.07 trace trace 0 78.5 23.9m 0.14 weighted average

A four hole 124.7m drill program by New Jersey Zinc may have been conducted on the Russnor 4 claim (BCDM, 1972) but no records or core from this program could be located. The holes would have been short (30m) so may have been collared within the breccia outcrops within the canyon.

Results from the drill programs on the Russnor showing are encouraging with significant intersections, often the entire hole, with anomalous copper. No gold analyses were reported for the 1961 program. Although the breccia body narrows in hole 61-5 it contained the best intersection with 0.3% Cu over the entire 36.6m sampled. The best mineralization within this interval occurs in the breccia with 0.58% Cu across 12.2m. The zone is entirely open to the northwest towards the gossan in Red Gulch, approximately 600m to the northwest and grades may improve in this direction based on the presence of a significant copper-molybdenum soil anomaly.

10.1.3 BR

A total of 810m of diamond drilling in four holes was reported on the BR portion of the Bridge River Project by Canex in 1971 (BCDM, 1971 and Enns and Lebel, 1980), but the individual footages reported for the four holes only totals 590m (Enns and Lebel, 1980 - Figure 4). The reported footages for DDH 71-1 and 71-3 were confirmed by visual inspection of the core by the author in 2008. The core is stacked on site at UTM co-ordinates 5639382mN, 464671mE Nad 83, Zone 10 projection, in deteriorating condition. Drill sites DDH 71-1, 71-2 and 71-4 were located in the field by the author and recorded by GPS during the 2009 program using a Garmin Map 76. Drill hole specifications are outlined in Table 12, below, and collars are shown on Figure 13.

TABLE 12: Drill hole specifications – BR showing DDH UTM Nad 83, Zone 10 Elev. Az. Dip Depth No. Northing Easting (m) () () (m) 71-1* 5639430 464868 1948 - -90 152.5 71-2* 5639495 465050 1947 - -90 153.3 71-3 5639807 465042 1920 - -90 77.4 71-4* 5639343 465550 1930 - -90 206.7 TOTAL: 589.9 * denotes located in 2009

The original logs and results of the 1971 drill program could not be located but the bottom of DDH 71-1 is reported to carry 0.134% Cu over 9m from 143.5 to 152.5m, with molybdenum not analyzed (Enns and Lebel, 1980). A sample of split core collected from this interval in 1980 returned 0.13% Cu, 0.05% Mo (Enns and Lebel, 1980). DDH 71-3 is reported to have intersected approximately 80m of basalt and was abandoned due to difficulty encountered in penetrating the basal regolith (Enns and Lebel, 1980). This was confirmed in 2008 from examination of the core on site.

Minor re-sampling of core in 2008 and 2009 by the author for Cresval from near the bottom of DDH 71-1 combined with the 1980 re-sampling yielded 0.077% Cu over 31.5m as a weighted average from 121.0m to the bottom of the hole at 152.5m, including 0.115% Cu over 9.75m from above a 9.44m basalt dyke which was not sampled and assigned a value of zero, and 0.107% Cu over 12.3 m from below the dyke.

10.2 2011 Drilling (Figures 13 to 14)

A total of 2031.5m of diamond drilling in nine holes was completed on the Mike Project by Cresval Capital Corp. in 2011, with 1261m in five holes on the Copper Plateau zone (Figure 13), and 770m in four holes targeting the Russnor Breccia (Figure 14). The diamond drilling was carried out by Vancouver Island Exploration, British Columbia, utilizing NQ wireline tools, between August 28 and November 21, 2011.

The drill core from DDH CP11-01 to -03 is stored at the Copper Plateau camp location at approximately 5639413mN, 464618mE and the drill core from the Russnor and CP11-04 to -05 are stored at the Russnor camp location at approximately 5639990mN, 470215mE. The drilling on Copper Plateau and one drill hole on the Russnor showing (DDH RS11-07) were helicopter supported. The remaining drill holes on the Russnor showing were road accessible. Diamond drill recoveries were generally good, averaging 92%. Diamond drill hole specifications are summarized in Table 13.

TABLE 13: 2011 drill hole specifications Hole Nad 83 Zone 10 Elev. Az. Dip Depth Samples No. Northing Easting (m) () () (m) Numbers No. of QAQC CP 11-01 5639360 464774 1929 280 -50 205.74 12101-12173 64 9 CP 11-02 5639632 464460 1936 130 -50 304.50 12174-12283 97 13 CP 11-03 5639757 464666 1950 145 -52 349.91 12284-12434 133 18 CP 11-04 5639411 465081 1915 255 -52 252.38 12435-12536 90 12 CP 11-05 5639287 464698 1916 260 -50 148.74 12537-12594 51 7 12595-12600 RS 11-06 5639872 470275 1547 235 -50 280.40 78 11 93701-93783 RS 11-07 5640140 470086 1574 237 -51 188.67 93784-93849 58 8 RS 11-08 5639950 470286 1557 235 -50 63.70 lost in basalt 0 0 93850-93882 RS 11-09 5639984 470217 1530 235 -51 237.44 73 10 93951-94000 TOTAL: 2031.48 644 88

DDH CP11-01 to -03 targeted exposed copper mineralization on the Copper Plateau (Figure 13). DDH CP11-01 targeted the highest copper in soil anomaly and mineralization exposed in hand trenches TR09-13 and 09-14. DDH CP11-02 targeted mineralization exposed in hand trenches TR09-1 to 5, -7 and -12, and DDH CP11-03 targeted mineralization exposed in the TR09-9 area and unsampled copper occurrences to the south.

DDH CP11-04 and -05 targeted mineralization at the BR showing on the cliffs just south of the Copper Plateau. DDH CP11-04 targeted copper mineralization in Central Gully. Although DDH71-2 lies only 90m northwest of this site, DDH71-2 was vertical, targeting the breccia pipe at this location. DDH CP11-05 was collared north of historical Trenches 2W and 2E, (0.14% Cu over 17m and 0.19% Cu over 6m) and Trenches 4 and 3 (0.12% Cu over 7m and 0.10% Cu over 12m) to test the main part of the BR showing and lies almost 150m southeast of DDH71-4, the closest drill hole.

The 2011 drill program on the Russnor showing targeted the Russnor Breccia intrusive body, which lies along the eastern margin of the Russnor soil anomaly, an open ended 600m wide by 1 km long greater than 50 ppm copper soil anomaly (Figure 8). The Russnor Breccia consists of a 150 by 100m intrusion breccia body exposed along Thunder Creek with historical results of 1.38% Cu over 30.5m from an old adit, 0.57% Cu over 60m and 1.00% Cu over 16.2m from the canyon of Thunder Creek, and 0.30% Cu over 36.6m from limited drilling. The intrusive breccia is thought to trend 330/85W so easterly (070º) directed azimuths are more favourable, but helicopter access is necessary to drill from the west side of Thunder Creek. Consequently the majority (three out of four) of the holes were drilled from the east side of the creek.

DDH RS11-06 targeted the southern strike extension of the Russnor Breccia, 75m southeast of the intersection in DDH 61-3, which returned 0.09% Cu over 48.0m. DDH RS11-08 was designed to test the down dip extent of the Russnor Breccia intersected in diamond drill hole 61-3, but was lost in the basal regolith at the basalt/granite contact. Consequently the hole was moved up to near the collar of 61-1 and was erroneously drilled at a dip of -50 instead of -65 as DDH RS11-09.

DDH71-3

QUARTZ MONZONITE BASALT

FEL QUARTZ MONZONITE LATITE LT DDH71-2

DYKE QM Bx

QUARTZ MONZONITE DDH71-1 Bx QM ABBREVIATIONS

OVB overburden BAS basalt

BASALT DDH71-4 LT latite dyke/sill Gully FEL felsic dyke REG regolith QM quartz monzonite QM Bx quartz

QUARTZ MONZONITE Central monzonite breccia in ppm FIGURE 13 > BRIDGE RIVER PROPERTY > COPPER PLATEAU > DRILL, TRENCH & SOIL PLAN 0-99 West Gully JP Exploration Services Inc. April 28, 2012

-51 Creek Basalt Creek

N ’

470400mE 470000mE 5000 QM

(Munro)

4800 188.67 m ’

’

4900 4800 ’

’

4900 Thunder -60 ppm Cu QM

163.2 m 5640000mN LEGEND -51 -45 69-2: 0.14% Cu/23.9m OVB overburden 73.5 m -1 B basalt -45 61 ppm Cu AND andesite -48 LT latite dyke QM -50 FEL felsic dyke 151.5 m B

adit REG regolith l l AP aplite ADIT QM granite 237.4 m 63.7 m

v 1.38% Cu/30.5m QM Bx granite breccia l Elwell, 1970 -45 -1 69-1: 0.30% Cu/26.5m 69-40 QM AP -50 142.5 m

B -90 ppm Cu 82.3m 0.10% Cu/3.05m quartz vein near bottom QM 5639800mN

280.4m FIGURE 14 ’ BRIDGE RIVER PROPERTY 4700 RUSSNOR DRILL PLAN 100m JP Exploration Services Inc. July 17, 2012

DDH RS11-07 was designed to test the northern strike extent of the Russnor Breccia approximately 100m north of the previous northernmost intersection in DDH 61-5, which returned 0.3% Cu over 36.6m. Due to extensive boulder talus, the pad location was moved to a suitable site approximately 100m further north and 30m further west than planned.

The 2011 diamond drill program was successful in intersecting broad zones of copper mineralization. Significant 2011 drill results are summarized in Table 13 below as weighted averages. True widths of the zones cannot be calculated at this stage due to the uncertainty of the actual orientations of the mineralized zones, although results in DDH CP11-03 to -05 are thought to be close to true widths. Plan sections are shown in Figures 13 and 14).

TABLE 13: Significant 2011 drill hole results DDH No. From (m) To (m) Length (m) Cu (%) CP 11-1 5.0 104.1 99.1 0.051 incl. 65.5 77.7 12.2 0.149 CP 11-3 36.0 121.2 85.2 0.053 incl. 45.1 81.7 36.6 0.090 CP 11-4 15.25 221 205.75 0.033 incl. 27.1 32.15 5.05 0.104 and 133.5 221.0 87.5 0.060 incl. 160.95 211.0 6.35 0.221 CP 11-5 3.05 72.0 68.95 0.043 incl. 27.0 42.0 15.0 0.108 RS 11-6 79.0 268.0 189.0 0.043 incl. 79.0 103.0 24.0 0.082 and 238.0 256.0 18.0 0.103 RS 11-9 27.1 42.35 15.25 0.050 and 130.75 149.05 18.75 0.046 and 225.25 234.4 9.15 0.046

Results from the Copper Plateau include broad intervals of anomalous copper intersected in four of the five drill holes. DDH CP11-02 intersected a post mineral latite dyke from 121 to 232.5m, resulting in no significant copper values being encountered. The north- northwesterly trending dyke has been mapped on surface and the intersection in CP11-02 indicates a southerly dip (Figure 13). Significant results include 0.033% Cu over 206m (including 0.060 over 87.5m) from DDH CP11-04, 0.051% Cu over 99m from DDH CP11- 01, 0.053% Cu over 85m from DDH CP11-03 (including 0.090 over 36.6m), and 0.043% Cu over 69m from DDH CP11-05 (Table 13). The copper mineralization was intersected in the upper half of CP11-01 and CP11-05 and in the upper and lower portions of DDH CP11-03 to -04, with a strong intersection in the bottom of CP11-04 (Figure 13). Overall, the copper mineralization appears to trend northerly and dip moderately east, indicating that westerly directed holes are more favourable.

Results from the Russnor showing also include broad intervals of anomalous copper with 0.043% Cu over 189m, including 0.103% Cu over 18m, from DDH RS11-06 (Figure 14), targeting the southern extension of the breccia zone. It was difficult to find a suitable location to drill the northern extension of the Russnor Breccia, so that DDH RS11-07 was

situated 200m to the north of mineralization encountered in DDH 61-5, which returned 0.30% Cu over 36.6m, and appears to be collared at the hanging wall of the breccia zone. Minor breccia appears to have been encountered in the top of the hole.

DDH RS11-09 was drilled similar to DDH61-1, which returned 0.064% Cu over 30.2m, and produced similar results with 0.050% Cu over 15.25m and 0.046% Cu over 18.75m. Unfortunately DDH RS11-08 could not penetrate through the basal regolith at the basalt/granite contact. The entire hole consisted of basalt, so no samples were collected.

Drill sampling methods are discussed under Section 11.0, “Sample Preparation, Analyses And Security”, below.

11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY

The core was delivered to the core processing site, located at the core storage location for the Copper Plateau and Russnor zones at approximately 5639413mN, 464618mE and at 5639990mN, 470215mE, respectively, all in Nad 83, Zone 10 projection.

Core markers were converted from feet to metres. Core was then washed and brushed to remove drill additives and mud. Each core box was measured and marked with core box start and core box finish at the upper left (start) and lower right (finish) of each box. Core was then measured for recovery in percent and rock-quality designation (RQD). Geologists measured out sample intervals and then logged core. Normal sample intervals were 3m but were reduced across significant vein or mineralized intercepts and at significant lithological boundaries. Core was split in half with a mechanical core splitter and half sent to the laboratory for assay and the remaining half put back in the core box as a record. Quality control samples were inserted, with one standard, one blank and one field duplicate approximately every 25 samples. Most of the core drilled was sampled yielding 644 samples with an additional 88 quality assurance and quality control (QAQC) samples analyzed.

Field duplicates were obtained by quartering the remaining half of the core in the box for one sample interval, approximately every 25 samples. Blanks consisted of medium grained quartz diorite from the Bridge Main logging road. The standard used was CDN- CM-13 (0.786 ±0.036% Cu, 0.740 ±0.094 g/t Au and 0.044 ±0.004% Mo), granitic rock from CDN Resource Laboratories Ltd., Langley, British Columbia. A total of 29 field duplicates, 29 standards and 30 blanks were inserted by company personnel for QAQC.

Initially core samples were sent directly to Eco Tech Laboratory Ltd. (Stewart Group), Kamloops, British Columbia, an ISO 9001 accredited facility, registration number CDN 52172-07 for preparation and analysis. Eco Tech was acquired by ALS Minerals in September, 2011, resulting in all of the core samples being sent to ALS Minerals in Vancouver, an ISO 9001:2008 accredited facility, and ISO/IEC 17025:2005 accredited for precious and base metals.

The core samples were analyzed for Al, Sb, As, B, Ba, Be, Bi, Cd, Ca, Cr, Co, Cu, Fe, Ga, La, Pb, Mg, Mn, Mo, Hg, K, Na, Ni, P, Ag, Sc, Sr, Th, Ti, Tl, S, W, U, V, and Zn using a 35 element ICP package (ME-ICP41) which involves a nitric-aqua regia digestion. Sample preparation involved crushing a 1 kg split to 80% passing 10 mesh. A second 250g split was pulverized to 85% passing 200 mesh. Gold was assayed by fire assay with an atomic absorption finish using a 30g sample weight (Au-AA23). Initially gold was erroneously analyzed by metallic screen assay (used on previous project) involving screening 1 kg to 100 micron (Au-SCR21) and fire assaying both fractions with an atomic absorption finish (Au-AA25).

Quality control procedures were implemented at the laboratory, involving the regular insertion of blanks and standards and check repeat analyses and resplits (re-analyses on the original sample prior to splitting). An additional 88 company inserted quality assurance and quality control (QAQC) samples were analyzed. There is no evidence of any tampering with or contamination of the samples during collection, shipping, analytical preparation or analysis. All sample preparation was conducted by the laboratory. The laboratory is entirely independent from the issuer. Eco Tech Laboratory Ltd. (Stewart Group) and ALS Minerals were ISO 9001:2000 accredited facilities and certified for the procedures performed. In the author’s opinion, the sample preparation, analysis and analytical procedures are adequately reliable for the purposes of this technical report.

A sampling protocol should be implemented by Cresval Capital Corp., involving the routine and regular insertion of blanks, standards and duplicates sent to the primary laboratory, and re-assaying of selected mineralized pulps at a second independent laboratory in future trenching and drill programs on the project.

12.0 DATA VERIFICATION

The geochemical data was verified by sourcing original analytical certificates and digital data. Analytical data quality assurance and quality control was indicated by the favourable reproducibility obtained in company and laboratory inserted standards, blanks and duplicates (repeats). There is a good correlation between the field duplicates collected for quality control. There does not appear to have been any tampering with or contamination of the samples during collection, shipping, analytical preparation or analysis. Quality control procedures are outlined under Section 11.0, “Sample Preparation, Analyses And Security”. In the author’s opinion, the data provided in this technical report is adequately reliable for its purposes.

13.0 MINERAL PROCESSING AND METALLURGICAL TESTING

The Bridge River property is at an early exploration stage and no metallurgical testing has been carried out.

14.0 MINERAL RESOURCE ESTIMATES

There has not been sufficient drilling on the Bridge River property to undertake a resource calculation or to delineate the limits of mineralization in any direction.

23.0 ADJACENT PROPERTIES

The Mike Project is adjoined to the north by the 46,200 hectare IKE Project of Amarc Resources Ltd. (Amarc), which is the subject of a funding/partnership agreement with Hudbay Minerals Inc. The following discussion of the IKE Project is summarized from Amarc’s website (2017). A copper-molybdenum-silver mineralized system measuring at least 3.5 km by 2 km has been delineated at the IKE discovery through combined induced polarization surveys, talus geochemical sampling and 2014 to 2016 drilling of over 12,000m in 21 core holes. Drill intercepts include 0.39% Cu, 0.03% Mo, 2.8 g/t Ag over 148m in DDH 20, and 0.30% Cu and 0.032% Mo, 2.1 g/t Ag over 591m in DDH 13. Wide-spaced drilling throughout the mineralized system in order to delineate the overall geometry and grade distribution is anticipated for 2018. In addition, at least five significant porphyry copper deposit targets have been established within 10 km of the IKE discovery. Mineralized intrusive rock at IKE has been dated at about 46 Ma, which is thought to be the age of the Bridge River pluton, which hosts mineralization at the Mike Project.

The Mike Project is adjoined to the east by the Mackenzie Project and to the south by the Salal Creek Project of Carube Copper Limited of Toronto Ontario. The Mackenzie Project covers chalcopyrite mineralization with reported values up to 13.1% Cu along linear structures hosted by Late Cretaceous quartz diorite of the Hurley River pluton (British Columbia Minfile, 2017). The Bornite Trend, which lies along trend of the eastern Nichol showing area on the Mike Project, consists of scattered quartz veins hosting bornite, chalcocite, magnetite, and lesser chalcopyrite and tetrahedrite as veins and stringers up to 0.2m wide and over an open ended strike length of 7.5 km. The showings occur along, and are associated with, the eastern boundary of the Bridge River pluton.

The Salal Creek molybdenum prospect, 15 km to the south of the central Mike Project, covers a 6 by 5 km area of molybdenum mineralization hosted by the Miocene aged Salal Creek pluton. Drilling in 2012 returned 0.057% Mo, 0.46 g/t Ag and 0.035 ppm Re (rhenium) over 20.6m including 0.207% Mo, 1.02 g/t Ag and 0.109 g/t Re over 4.8, within a 145.5m interval grading 0.02% Mo from DDH MSA-003 (Garcia, 2012). Previous chip sampling returned 0.077% Mo over 85m, 0.191% Mo over 55m and 0.084% Mo over 30m (Garcia, 2012).

The author is not able to verify the above information and the information is not necessarily indicative of the mineralization on the Mike Project.

24.0 OTHER RELEVANT DATA AND INFORMATION

To the author’s knowledge, there is no additional information or explanation necessary to make this technical report understandable and not misleading.

24.0 INTERPRETATION AND CONCLUSIONS

There is excellent potential on the Mike (formerly the Bridge River) Project to discover a bulk-mineable plutonic hosted, calcalkaline porphyry coppermolybdenumgold deposit similar to Highland Valley, British Columbia. The Mike Project adjoins the IKE Project of Amarc Resources Ltd. (affiliated with Hunter Dickinson Inc.), and displays a similar footprint, age and geological setting to the IKE porphyry copper-molybdenum-silver discovery. The IKE discovery is a copper-molybdenum-silver mineralized system measuring at least 3.5 km by 2 km found through combined induced polarization surveys, talus geochemical sampling and 2014 to 2016 drilling of over 12,000m in 21 core holes. Drill intercepts include 0.39% Cu, 0.03% Mo, 2.8 g/t Ag over 148m in DDH 20, and 0.30% Cu and 0.032% Mo, 2.1 g/t Ag over 591m in DDH 13. At least five additional significant porphyry copper deposit targets occur on the IKE Project. The above information has not been independently verified by the author and is not necessarily indicative of the mineralization on the Mike Project which is the subject of this report.

The Mike Project is primarily underlain by the probable Eocene aged, granitic, 5 by 14 km Bridge River pluton, which has intruded at the margins of the Late Cretaceous to Paleogene Lord River pluton, the Late Cretaceous Dickson – McClure Batholith of granodiorite composition and Late Cretaceous quartz diorite of the Hurley River pluton. The above intrusions lie along the eastern margin of the Coast Plutonic Complex. The intrusive rocks are locally overlain by flat lying Pleistocene aged plateau basaltic flows and intruded by related basalt to diorite feeder dykes and felsite, quartz porphyry and feldspar porphyry dykes. The Bridge River pluton is multi-phase and includes a number of hydrothermal breccia bodies, which are common within porphyry type deposits.

The Copper Plateau showing, in the western project area, covers a 450 by 550m copper in soil anomaly (open onto the copper bearing cliffs of the BR showing to the south and open to the east) with maximum values of 4120 ppm Cu and 75 ppb Au in soil, with 0.14% Cu

over 17m from 1960’s trenching, and 0.49% Cu over 4.5m and 0.84% Cu over 2.8m from 2010 hand trenching (limited by the length of the trenches).

The Russnor showing covers a 150 by 100m intrusion breccia body exposed along Thunder Creek with historical results of 1.38% Cu over 30.5m from an old adit, 0.57% Cu over 60m and 1.00% Cu over 16.2m from the canyon of Thunder Creek, and 0.30% Cu over 36.6m from limited drilling. The Russnor Anomaly, an open ended 600m wide by 1 km long greater than 50 ppm soil anomaly, was outlined by Cresval in 2010 to the west of the breccia body with peak values of 985 ppm Cu, 81 ppb Au and 71.1 ppm Mo.

The 2011 diamond drill program on the Mike Project, which targeted only the Copper Plateau – BR and Russnor Breccia zones, was successful in intersecting broad zones of copper mineralization, with anomalous copper intersected in four of the five drill holes at Copper Plateau – BR and in DDH RS11-06 at the Russnor showing. The 2011 results from the Copper Plateau include 0.033% Cu over 206m (including 0.060 over 87.5m) from DDH CP11-04, 0.051% Cu over 99m from DDH CP11-01, 0.053% Cu over 85m from DDH CP11-03 (including 0.090 over 36.6m), and 0.043% Cu over 69m from DDH CP11-05. DDH CP11-02 intersected a post mineral latite dyke resulting in no significant copper values being encountered.

DDH RS11-06 at the Russnor showing returned 0.043% Cu over 189m, including 0.103% Cu over 18m, from the southern extension of the Russnor Breccia zone. DDH RS11-07 was collared too far to the west, DDH RS11-08 was lost at the basal basalt regolith above the granite host and DDH RS11-09 was drilled at the wrong dip. Exploration to date on the Russnor has been confined to the road accessible eastern edge of the Russnor soil anomaly.

The Windy Copper showing, located 3 km to the north-northwest of the Russnor, covers a 1 km by 400m zone of copper mineralization which includes: Cominco’s 1931 #3 showing, reportedly carrying 3.26% Cu over 9.1m and 0.44% Cu across 24.5m; the Contact zone, discovered in 2008 with maximum values of 1.48% Cu; the Snowfield Copper zone which returned 0.69% Cu, and 14.1 g/t Ag; and a 400 by 350m copper in soil anomaly with associated lead, zinc, gold and arsenic.

The Nichol showing, in the eastern project area, covers an open ended 600 by 400m zone carrying 4.73% Cu, 32.8 g/t Ag, 0.16 g/t Au, 0.015% Mo over 1m, 2.08% Cu over 4.5m from trenching and 3.50% Cu, 34.3 g/t Ag, 0.079% Mo over 8.5m from drilling. Previous work concentrated on the high grade “veins”, which may represent silica-sulphide mineralization in the core of the porphyry system.

Approximately 30% of the MIKE Project is covered by a relatively thin layer of Pleistocene aged basalt cover rocks. The basalts are younger than the Bridge River pluton, which hosts the porphyry style mineralization. Excellent potential exists for significant mineralization to occur beneath the cover rocks.

The high resolution airborne magnetic and radiometric geophysical survey, completed over the Mike Project in 2015, outlined larger zones of elevated potassium over thorium

ratios (interpreted as potassic alteration, which is generally coincident with porphyry copper style mineralization) extending beyond the known showings. The potassic zones occur at the junction of regional northwest trending vertical gradient magnetic lineaments with northeast trends; such fault intersections are favourable sites for the development of significant mineralization. In the central property area a 1.5 by 0.75 km wide potassic zone incorporates the Russnor soil anomaly, with the Russnor showing along its eastern margin. Similar geophysical signatures are also evident at the Copper Plateau and Windy Copper showings.

In conclusion the Mike Project has potential for the discovery of a bulk-mineable plutonic hosted, calcalkaline porphyry coppermolybdenumgold deposit. The project area encompasses four copper porphyry Minfile showings, the Nichol, Russnor – Red Creek, Copper Plateau - BR and Windy Copper- Snowfield Copper, all hosted by the 14 by 5 km granitic Bridge River pluton. The widespread copper mineralization within the Bridge River pluton; the occurrence of mineralized and hydrothermally altered intrusive breccia bodies; the presence of potassic and phyllic alteration; the presence of silica- sulphide stockwork mineralization; the indication of pyritic halo mineralization in the Canyon area of the North Fork of the Bridge River; the intersection of broad zones of copper mineralization in the 2011 drill program; the delineation of larger airborne radiometric anomalies partly coincident with known showings and anomalies; and the location within a known porphyry belt; are all favourable for the discovery of a deposit of this type.

The Mike Project is at an early stage of exploration, and as such considered a high risk. The above interpretations and the following recommendations for work are based on the results of geochemical and geophysical surveys, which are subject to a wide range of interpretation, with very minor hand trenching and drilling. There are no specific risks that the author foresees that would impact continued exploration and development of the property. Although the author believes the surveys on the property are scientifically valid, evaluating the geological controls on mineralization is hampered by a lack of outcrop exposure in critical areas.

26.0 RECOMMENDATIONS

Based on the widespread copper mineralization within the Bridge River pluton, and similarities and proximity to the IKE Project of Amarc, the Mike Project is a property of merit and warrants continued exploration. There is excellent potential on the Mike Project to discover a bulk-mineable plutonic hosted, calcalkaline porphyry coppermolybdenumgold deposit similar to Highland Valley, British Columbia.

Property scale mapping and sampling has not been undertaken and is recommended to evaluate the ground between the known showings, especially proximal to the younger basalt cover rocks for indications of mineralization. Particular emphasis should be to the northwest of the Copper Plateau showing and northeast towards Windy Copper, and to the south of the basalts which lie west of both the Nichol and Russnor showings.

The Russnor soil anomaly and anomalies in this area generated by the airborne survey require evaluation by mapping and sampling in order to delineate drill targets. Disseminated chalcopyrite has been noted in isolated outcrops through this area, but requires detailed prospecting and chip sampling. Exploration to date on the Russnor has been confined to the road accessible eastern edge of the soil anomaly. Induced polarization geophysical surveys are recommended over the Russnor Anomaly and the Windy Copper showing. Anomalies will require follow up by detailed mapping, prospecting, hand trenching and sampling.

The Nichol showing requires detailed chip sampling of historical trenches and exposures in the showing area to evaluate disseminated copper mineralization between veins. Mapping and sampling is required to the south of the Nichol showing to investigate stream sediment anomalies, a weak gossan, an old copper showing on the west side of the creek referred to in 1930’s memos, and along a gossanous structural trend (on trend of Carube Copper’s Bornite Trend). The Bornite Trend is a 7.5 km long zone of copper occurrences, adjoining the Mike Project to the east.

A contingent Phase 2 diamond drill program is recommended to follow up significant results from Phase 1.

26.1 Budget

Based on the above recommendations, the following contingent two phase exploration program with corresponding budget is proposed. Phase 2 is entirely contingent on results from Phase 1.

Phase 1

 property mapping and sampling (geologist, prospector) $35,000  select IP surveys (Russnor and Windy Copper areas) 55,000  helicopter 40,000  hand trenching and sampling 20,000  camp, food, supplies, transportation, communication 20,000  geochemistry (100 samples @ $40/ea., plus freight & QAQC) 5,000  preparation, report and drafting 15,000  contingency 20,000 TOTAL: $210,000

Phase 2 (contingent on results from Phase 1) diamond drilling

 diamond drilling (2500m in 9 holes) 500,000  geochemistry (500 samples @ $40/ea., incl. freight) 20,000  geologist, sampler 30,000  helicopter 65,000  camp, food, supplies, transportation, communication 30,000  preparation, report and drafting 30,000  contingency 75,000 TOTAL: $750,000

PHASE 1 & 2 TOTAL $960,000

SIGNATURE PAGE

Respectfully submitted, Effective Date: December 18, 2017

“Jean Pautler” Signing Date: December 18, 2017

Jean Pautler, P.Geo.

The signed and sealed copy of this Signature page has been delivered to Cresval Capital Corp.

27.0 REFERENCES

Allen, A.R., 1969. Report on the property of Thunder Creek Mines, Bridge River, British Columbia. Prospectus filed by Thunder Creek Mines Ltd., with British Columbia Securities Commission.

Amarc Resources Ltd., 2017. Website at http://www.amarcresources.com/.

BCDM, 1972. Geology, Exploration and Mining in British Columbia 1972. British Columbia Department of Mines and Petroleum Resources GEM 1972, p282.

1971. Geology, Exploration and Mining in British Columbia 1971. British Columbia Department of Mines and Petroleum Resources GEM 1971, p311.

1970. Geology, Exploration and Mining in British Columbia 1970. British Columbia Department of Mines and Petroleum Resources GEM 1970, p223.

Borovic, I. and Cannon, R.W., 1970. Geological report on the B. R. claims, Bridge River. British Columbia Ministry of Energy Mines and Petroleum Resources Assessment Report 2500.

British Columbia Minfile, 2017. British Columbia Ministry of Energy and Mines.

Buckle, John, 2017. Report on the 2015 airborne geophysical survey of the Bridge River Project (Copper Claims). BCMEMPR Assessment Report #36838.

Cairnes, C.E., 1925. Pemberton area, Lillooet District, BC; Geological Survey of Canada, Summary Report 1924, pp 76-99.

Campbell, C.B., Mustard, D.K. and Elwell, J.P., 1971. Geological report on the property of Thunder Creek Mines Ltd. N.P.L., Bridge River area, British Columbia. British Columbia Ministry of Energy Mines and Petroleum Resources Assessment Report 3320.

Cannon, R.W., 1970. Geophysical Induced Polarization survey – B. R. claims. Bridge River. British Columbia Ministry of Energy Mines and Petroleum Resources Assessment Report 2499.

Carube Copper Limited, 2017. Website at http://www.carubecopper.com/mackenzie.

Cui, Y., Miller, D., Schiarizza, P., and Diakow, L.J., 2017. British Columbia digital geology. British Columbia Ministry of Energy, Mines and Petroleum Resources, British Columbia Geological Survey Open File 2017-8, 9p.

Dolmage, V., 1929. Gun Creek map area, Lillooet District, BC; Geological Survey of Canada, Summary Report 1928, pp 78A-93A.

1925. Chilco Lake and vicinity, BC; Geological Survey of Canada, Summary Report 1924, pp 78A-93A.

Elwell, J.P., 1970. Report on the Russnor and Mel claim groups of Thunder Creek Mines Ltd. N.P.L., Bridge River area. British Columbia Ministry of Energy Mines and Petroleum Resources Paper File.

Enns, S.G. and Lebel, J.L., 1980. Bridge River property. British Columbia Ministry of Energy Mines and Petroleum Resources Assessment Report 8804.

Garcia, J.S., 2012. 2012 report on the MacKenzie and Salal properties, southern British Columbia. Prepared by Miocene Metals Limited. BCMEMPR Assessment Report #33341.

Mark, D.G., 2009. Exploration report on an IP/resistivity survey and an MMI soil sampling survey on the Mike Project. British Columbia Ministry of Energy Mines and Petroleum Resources (BCMEMPR) Assessment Report.

Meyer, W., 1963. Geological, geophysical and geochemical report Nichols Creek, British Columbia. BCMEMPR Assessment Report #534.

Minister of Mines, 1961. Annual Report of the Ministry of Mines, British Columbia - 1961, p.25.

1930. Annual Report of the Ministry of Mines, British Columbia - 1930, p.202.

1929. Annual Report of the Ministry of Mines, British Columbia - 1929, p.234.

Panteleyev, A., 1995. Porphyry CuMoAu, in Selected British Columbia Mineral Deposit Profiles, Volume 1 - Metallic and Coal, Lefebure, D.V. and Ray, G.E., editors, British Columbia Ministry of Employment and Investment, Open File 1995-20, pp 87-92.

Pautler, J.M., 2012. Report on the 2011 diamond drill program Bridge River Project. BCMEMPR Assessment Report #33319.

2011. Report on the 2010 geological and geochemical program, Bridge River Project. BCMEMPR Assessment Report #32065.

2010b. Geological, geochemical and trenching report on the Bridge River Project. Technical Report for Cresval Capital Corp.

2010a. Geological, geochemical and trenching assessment report on the Bridge River Project. BCMEMPR Assessment Report #31388.

2009. Geological and geochemical assessment report on the Bridge River Project. BCMEMPR Assessment Report #30991.

2008. Geological and geochemical assessment report on the Bridge River Project. BCMEMPR Assessment Report #29904.

2006. Geological and geochemical evaluation report of the Bridge River Project. Technical Report for Cresval Capital Corp.

2005. Geological and geochemical evaluation report of the Bridge River Project. BCMEMPR Assessment Report #28271.

Phelps Dodge, 1961. Diamond drill report on the Russnor property, Bridge River area, British Columbia. Report for Phelps Dodge Corporation of Canada Ltd.

Polischuk, G., 1987. Sketch map and soil geochemistry of Nichol area. Unpublished map.

Polischuk, R., Arik, A.H. and Elwell, J.P., 1981. Assessment work on 100 Copper claims in Lillooet Mining Division (drilling report). British Columbia Ministry of Energy Mines and Petroleum Resources Assessment Report 10246.

Roddick, J.A. and Woodsworth, G.J., 1977. Geology of Pemberton Map Area; Geological Survey of Canada, Open File 482.

Schiarizza, P., Gaba, R.G., Glover, J.K., Garver, J.I. and Umhoefer, P.J., 1997. Geology and mineral occurrences of the Taseko - Bridge River Area; British Columbia Ministry of Employment and Investment, Bulletin 100.

Tipper, H.W., 1963. Geology, Taseko Lakes, British Columbia; Geological Survey of Canada, Preliminary Map 29-1963.

Walker, S., 2015. Airborne Geophysical Survey Report - Bridge River Survey Block. Report by Precision Geosurveys Inc. for Cresval Capital Corp.

CERTIFICATE OF QUALIFIED PERSON

1) I, Jean Marie Pautler of 103-108 Elliott Street, Whitehorse, Yukon Territory am self- employed as a consultant geologist, authored and am responsible for all sections of this report entitled “Technical report on the Mike Project”, dated December 18, 2017.

2) I am a graduate of Laurentian University, Sudbury, Ontario with an Honours B.Sc. degree in geology (May, 1980) and over 35 years mineral exploration experience in the North American Cordillera. Pertinent experience includes the acquisition and delineation of the Tsacha epithermal gold deposit, British Columbia and the evaluation of various deposit types including porphyry for Teck Exploration Limited, and drilling the Brenda gold-copper porphyry property in the Kemess Camp for Northgate Exploration Limited.

3) I am a registered member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC Registration Number 19804).

4) I have visited the subject mining property of this report and am a “Qualified Person” in the context of and have read and understand National Instrument 43-101. This report was prepared in compliance with NI 43-101.

5) This report is based on a site visit by the author on July 17, 2016 after the latest exploration programs on the claims and on August 30-31, 2011. I conducted work on the property for Cresval Capital Corp. from July 28 to August 8, 2010, September 1 to 4, 2009, September 13 to 17, 2008, October 25 to 28, 2007 and August 17 to 27, 2005. I do not have any other prior involvement on the Mike Project.

6) As stated in this report, in my professional opinion the property is of potential merit and further exploration work is justified.

7) At the effective date of the technical report, to the best of my knowledge, information, and belief, the technical report contains all scientific and technical information required to be disclosed to make the technical report not misleading.

8) I am entirely independent, as defined in section 1.5 of National Instrument 43-101, of Cresval Capital Corp., any associated companies and the Mike Project. I do not have any agreement, arrangement or understanding with Cresval Capital Corp., or any affiliated company to be or become an insider, associate or employee. I do not own securities in Cresval Capital Corp., or any affiliated companies and my professional relationship is at arm's length as an independent consultant, and I have no expectation that the relationship will change.

Dated at Carcross, Yukon Territory this 18th day of December, 2017.

“Signed and Sealed”

____”Jean Pautler”______

Jean Pautler, P.Geo. (APEGBC Reg. No. 19804) JP Exploration Services Inc. #103-108 Elliott St Whitehorse, Yukon Y1A 6C4

The signed and sealed copy of this Certificate page has been delivered to Cresval Capital Corp.