AN INDEPENDENT TECHNICAL REPORT ON THE TARTOQ PROJECT, SOUTH GREENLAND

Prepared for NALUNAQ A/S

Report prepared by

SRK Exploration Services Ltd ES7680

Head Office UK: +44 2920 233 233 12 St Andrew’s Crescent Denmark: +45 272 088 71 Cardiff Russia: +7 4955 454 413 CF10 3DD Gabon: +241 173 0501 United Kingdom

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Tartoq 2016 ITR

An Independent Technical Report on the Tartoq Project, South Greenland

Nalunaq A/S c/o Nuna Advokater ApS, Qullilerfik 2, 6., 3900 Nuuk, Greenland e-mail: [email protected] website: www.arctic-resources.com Tel: +44 1778 570 141

SRK Exploration Services Ltd 12 St Andrew’s Crescent, Cardiff, UK CF10 3DD e-mail: [email protected] website: www.srkexploration.com Tel: + 44 29 20 233 233 Fax: + 44 29 20 233 211

SRK ES Project Number ES7680

Effective date: 30 January, 2017 Signature date: 20 March, 2017

Authored by:

James Gilbertson, CGeol Jon Russill, FGS

Peer Reviewed by:

Gareth O’Donovan, CEng

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IMPORTANT NOTICE

This report was prepared as a National Instrument 43-101 Standards of Disclosure for Mineral Projects Technical Report for Nalunaq A/S by SRK Exploration Services Ltd. (SRK ES). The quality of information, conclusions, and estimates contained herein are consistent with the quality of effort involved in SRK ES’ services. The information, conclusions, and estimates contained herein are based on: i) information available at the time of preparation, ii) data supplied by outside sources, and iii) the assumptions, conditions, and qualifications set forth in this report. This report is intended for use by Nalunaq A/S subject to the terms and conditions of its contract with SRK ES and relevant securities legislation. The contract permits Nalunaq A/S to file this report as a Technical Report with Canadian securities regulatory authorities pursuant to National Instrument 43-101. Except for the purposes legislated under provincial securities law, any other uses of this report by any third party is at that party’s sole risk. The responsibility for this disclosure remains with Nalunaq A/S. The user of this document should ensure that this is the most recent Technical Report for the property as it is not valid if a new Technical Report has been issued.

COPYRIGHT AND DISCLAIMER Copyright (and any other applicable intellectual property rights) in this document and any accompanying data or models is reserved by SRK Exploration Services Limited ("SRK ES") and is protected by international copyright and other laws. The use of this document is strictly subject to terms licensed by SRK ES to its client as the recipient of this Report and unless otherwise agreed by SRK ES, this does not grant rights to any third party. This document may not be reproduced or circulated in the public domain (in whole or in part) or in any edited, abridged or otherwise amended form unless expressly agreed by SRK ES. This document may not be utilised or relied upon for any purpose other than that for which it is stated within and SRK ES shall not be liable for any loss or damage caused by such use or reliance. SRK ES respects the general confidentiality of its clients’ confidential information whether formally agreed with clients or not. See the attached Terms and Conditions as included in the Commercial Appendices contain mutual confidentiality obligations upon SRK ES and the Client. The contents of this Report should be treated as confidential by the Client. The Client may not release the technical and pricing information contained in this Report or any other documents submitted by SRK ES to the Client, or otherwise make it available to any third party without the express written consent of SRK ES.

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© SRK Exploration Services Ltd 2017

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AN INDEPENDENT TECHNICAL REPORT ON THE TARTOQ PROJECT, GREENLAND EXECUTIVE SUMMARY

INTRODUCTION SRK Exploration Services Limited (“SRK ES”) is part of the global SRK Consulting Group and has been commissioned by Nalunaq A/S to produce an Independent Technical Report for the Tartoq Project located in Southwest Greenland. The Tartoq Project is an early stage gold exploration project that exhibits gold mineralisation at a number of prospects within the Archaean greenstone belts. SRK ES’ work has involved a review of historical exploration data, academic research and the results of Nalunaq A/S’ 2016 exploration programme. The outcomes of this, including recommendations for further exploration, are presented in this report which has been prepared following the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 and Form 43-101F1. SRK ES understands that this technical report will be used by Nalunaq A/S to support an application for listing on the TSX Venture Exchange.

PROPERTY DESCRIPTION AND OWNERSHIP The Tartoq Project is located in South Greenland at 61°30ʹ N latitude and 48°40ʹ W longitude in the municipality of Sermersooq. The property is situated on the headlands either side of the Sermiligaarsuk Fjord some 80 km southeast of the town of Paamuit. The project area lies within Exploration Licence number 2015/17, which covers an area of 83 km2. The licence was granted to Nanoq Resources Ltd. On 4th May 2015 and is valid until 31st December 2019. Nalunaq A/S purchased 100% ownership of the project from Nanoq in December 2016 following a sales agreement between the parties that was signed in July 2016. The exploration licence grants Nalunaq A/S the exclusive right to undertake mineral exploration within the licence area. The Tartoq Project is split into two sub areas named Nuuluk and Iterlak on the southern and northern sides of Sermiligaarsuk Fjord respectively. The Project can be accessed by boat and then on foot to reach the main target areas, or by helicopter. There is no infrastructure within the licence area.

GEOLOGY AND MINERALISATION The Tartoq Project lies on the northern edge of the North Atlantic Craton on the contact with the Ketilidan Mobile Belt that formed between 1,850 Ma to 1,725 Ma during the subduction of an oceanic plate under the southern margin of the North Atlantic Craton. The Archaean greenstone belts that represent the gold-bearing Tartoq Group are supracrustal rocks composed of metasedimentary units, submarine mafic metavolcanics and mafic to ultramafic intrusives. The units have all been metamorphosed varying from greenschist to amphibolite

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facies increasing from west to east with sharp tectonic or intrusive contacts with the surrounding Archaean tonalite–trondhjemite–granodiorite (“TTG”) basement rocks. The Tartoq Group has undergone two main phases of ductile deformation and one phase of brittle faulting. The ductile deformation has resulted in north- to northeast-trending kilometre- scale, multi-phase complex folding with brittle cataclasites. Unlike other greenstone belts in Greenland, much of the Tartoq Group has retained its primary fabric and has a more variable, generally lower metamorphic grade. Deformation and associated fluid flow has resulted in pervasive alteration including carbonatisation from late-stage structurally controlled hydrothermal infiltration, which has been linked to the orogenic gold mineralisation within the belt. Gold mineralisation within Nuuluk area is found with two carbonate alteration zones that are some 3 km long and 100 m wide named the Western and Eastern Carbonate Zones (“WCZ” and “ECZ”). Gold grades within these zones are high in some areas but are also typically erratic. There are three gold-bearing lithologies: 1. Quartz +/- carbonate veins contain the highest gold grades although these are generally thin, discontinuous and often boudinaged. Gold is thought to occur as inclusions and fracture fill in sulphide grains. The erratic grades suggest a high nugget effect and the possible presence of coarse gold; 2. Massive and semi-massive sulphide bodies, dominated by arsenopyrite, pyrite and pyrrhotite, consistently contain elevated gold grades; 3. Schists that have structurally controlled alteration with variable quantities of quartz veining and sulphides have moderate gold grades. SRK ES considers that the carbonate-altered schists, particularly where banded iron formations are present, may have the best potential to hold the tonnage required to represent an economic project. Further exploration will be needed to demonstrate that gold mineralisation shows continuity, is associated with hydrothermal alteration and sulphides, and is not restricted to thin quartz veining. Information on the gold mineralisation at the Iterlak prospect is more limited compared to Nuuluk, but historical information suggests similar mineralisation styles to those at Nuuluk are present.

EXPLORATION STATUS SRK ES considers exploration at the project to be at an early stage. Exploration for gold and base metals in the Tartoq area was carried out by several companies between the 1970s and 1990s. This work focused on the WCZ and ECZ at Nuuluk and the Western Valley Sulphide Showing (“WVSS”) at Iterlak. Work included geological mapping, surface rock sampling and two small drilling programmes totalling 1,824 m. Drilling, had mixed results, often failing to confirm the continuity of mineralisation encountered at surface. The best drill intersections were 6.60 g/t gold over 2.00 m at the WCZ at Nuuluk, and 8.28 g/t gold over 1.97 m at the WVSS at Iterlak.

CONCLUSIONS AND RECOMMENDATIONS Exploration at Tartoq has confirmed the presence of gold mineralisation in the Archaean greenstone belts, but has not yet provided definitive information with regards to how gold

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mineralisation is distributed within the lithologies of the main prospects. Previous owners of the licence have focused on high-grade quartz veins which SRK ES considers to be too thin and discontinuous to represent targets with economic potential. Larger zones of mineralisation in the form of gold-bearing alteration zones in schists, zones of veining or large massive sulphide bodies are required to provide tonnage and grade continuity. The datasets over both Nuuluk and Iterlak are, however, too small and spatially restricted to allow this interpretation and therefore the assessment of grade continuity across the prospective zones. Recent exploration has focussed on small, high-grade areas that had already been previously identified, and work has yet to identify a prospective package that shows significant continuity of mineralised lithologies or grade. There is an element of ‘under-exploration’, and further work is required to define the overall prospectivity of the Project. Future exploration for the Tartoq Project should aim to assess grade continuity across the known mineralised zones. This could be achieved via a closely spaced channel sampling programme, starting over the most prospective areas in the ECZ of Nuuluk. The entire carbonate package should be sampled continuously. This programme will define whether the package has the potential to form a sufficiently coherent exploration target that warrants diamond drilling, or if the gold mineralisation is restricted to small high-grade zones. Additional work should also include mineralogical and petrological studies, especially on samples from the sulphide bodies and schists. If the exploration programme is successful at defining a significant target, these methods can be applied elsewhere within the Project. Additional targeting may be possible with the use of high-resolution remote sensing data. The abundant rock exposure in the area should allow for quality data from which it may be possible to interpret geology, structure and alteration. Provisional costs for these first-phase exploration tasks are estimated to be in the order of US $200,000.

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Table of Contents 1 INTRODUCTION AND TERMS OF REFERENCE ...... 1 Scope of Work ...... 1 Basis of Technical Report ...... 1 Qualifications of SRK ES ...... 2 Site Visit ...... 2 Acknowledgement ...... 2 Declaration ...... 2 2 RELIANCE ON OTHER EXPERTS ...... 3 3 PROPERTY DESCRIPTION AND LOCATION ...... 4 Introduction ...... 4 Mineral Tenure ...... 4 Underlying Agreements ...... 6 Permits and Authorisation ...... 7 Environmental Considerations ...... 7 Mining Rights in Greenland ...... 7 3.6.1 Legal Foundation ...... 7 3.6.2 Types of Mineral Licences ...... 7 3.6.3 Administrative Authorities ...... 8 4 ACCESSIBILITY, LOCAL RESOURCES, INFRASTRUCTURE, CLIMATE, AND PHYSIOGRAPHY ...... 8 5 HISTORY ...... 11 Introduction ...... 11 Exploration History ...... 11 5.2.1 Greenland Geological Survey ...... 11 5.2.2 Renzy Mines Ltd...... 11 5.2.3 Greenex A/S ...... 11 5.2.4 NunaOil ...... 15 5.2.5 Nordic Mining Ltd...... 22 6 GEOLOGICAL SETTING AND MINERALISATION ...... 22 Regional Geology ...... 22 Project Geology ...... 24 Prospect Geology and Mineralisation ...... 28 6.3.1 Nuuluk Prospect ...... 28 6.3.2 Iterlak Prospect ...... 34 7 DEPOSIT TYPES ...... 34 Orogenic Quartz Vein Gold...... 34 Stratabound Gold in Banded Iron Formations ...... 36

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8 EXPLORATION ...... 37 Grab Sampling ...... 37 Channel Sampling ...... 39 SRK ES Interpretation ...... 41 8.3.1 Gold Grades in Carbonate Schists ...... 42 9 DRILLING ...... 42 10 SAMPLE PREPARATION, ANALYSES, AND SECURITY ...... 43 10.1 Sample Preparation and Analysis ...... 43 10.2 Quality Assurance and Quality Control Programmes ...... 44 Duplicates ...... 44 Blanks ...... 44 Certified Reference Materials ...... 44 10.3 SRK ES Comments ...... 44 11 DATA VERIFICATION ...... 45 11.1 SRK ES Comments ...... 45 12 MINERAL PROCESSING AND METALLURGICAL TESTING ...... 45 13 MINERAL RESOURCE ESTIMATES ...... 45 14 MINERAL RESERVE ESTIMATES ...... 45 15 MINING METHODS ...... 45 16 RECOVERY METHODS ...... 46 17 PROJECT INFRASTRUCTURE ...... 46 18 MARKET STUDIES AND CONTRACTS ...... 46 19 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT ...... 46 20 CAPITAL AND OPERATING COSTS ...... 46 21 ECONOMIC ANALYSIS ...... 46 22 ADJACENT PROPERTIES ...... 46 23 OTHER RELEVANT DATA AND INFORMATION ...... 46 24 INTERPRETATION AND CONCLUSIONS ...... 46 24.1 Interpretation ...... 46 24.2 Conclusions ...... 47 25 RECOMMENDATIONS ...... 48 25.1 Introduction ...... 48 25.2 Remote Sensing ...... 48 25.3 Nuuluk ...... 48 25.4 Iterlak ...... 49 25.5 Mineralogical and Petrological Studies ...... 49 25.6 Exploration Budget ...... 49

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26 REFERENCES ...... 50

List of Tables Table 2-1 Sources of information ...... 4 Table 3-1: Exploration licence number 2015/17 - the Tartoq Project (source: Nalunaq A/S) ...... 5 Table 3-2: Boundary coordinates for exploration licence number 2015/17 (source: Nalunaq A/S) 6 Table 5-1: NunaOil Summary Drilling Information (Petersen, 1992) ...... 20 Table 8-1: Summary Results of Grab Samples (SRK ES, 2016) ...... 39 Table 8-2: Nalunaq A/S Channel Sample Results 2016 ...... 41 Table 25-1: Estimated Cost for the Exploration Programme Proposed for the Tartoq Project ...... 49

List of Figures Figure 3-1: The location of the Tartoq Project, exploration licence number 2015/17 (SRK ES, 2016)...... 5 Figure 4-1: Aerial view of the part of the Nuuluk prospect, looking southwest towards Tartoq Fjord in the middle distance. Greenstone belt lithologies are represented by the brown coloured rocks with paler carbonate alteration between them (SRK ES, 2016) ...... 9 Figure 4-2: Typical terrain in the Nuuluk prospect, looking towards the northeast (SRK ES, 2016) ...... 10 Figure 4-3: View north-eastwards from the northern part of the Nuuluk prospect along Sermiligaarsuk Fjord. The general locations of other greenstone belts in the area are shown (Bikuben not visible in this photograph). For scale, Iterlak is about 15 km from the photograph location (SRK ES, 2016) ...... 10 Figure 5-1: Collar Map of Greenex A/S Winkie Drilling (map sourced from GEUS, modified by SRK ES, 2016) ...... 13 Figure 5-2: Cross-section showing N1 drill hole (Greenex, 1985) ...... 14 Figure 5-3: NunaOil Channel Sampling over ECZ (SRK ES, 2016) ...... 16 Figure 5-4: Geophysical cross-section over the WCZ (Petersen, 1992) ...... 17 Figure 5-5: Collar Map of NunaOil Drilling on Nuuluk and Iterlak (SRK ES, 2016) ...... 19 Figure 5-6: Drilling cross-sections. Left: WCZ drilling at Nuuluk looking north. Right: WVSS drilling at Iterlak looking north (Petersen, 1992) ...... 21 Figure 6-1: North Atlantic Craton and Paleoproterozoic Orogens. KO: Ketilidian Orogen. NO: Nagssugtoqidian Orogen (modified from Zhao et al, 2002) ...... 23 Figure 6-2: Geological map of the Ketilidian Orogen in Southern Greenland (after Garde et al., 2002) ...... 24 Figure 6-3: Isoclinal refolding of F1 within the Footwall Imbricated Zone, Nuuluk (Kisters et al, 2011) ...... 25 Figure 6-4: Geological map of the Tartoq Project clearly defining the six greenstone belts within the Archaean TTG basement and overlying Ketilidian Paleoproterozoic rocks to the east (SRK ES, 2016 modified from Kolb, 2011) ...... 27 Figure 6-5: Schematic cross section through the Nuuluk area (Kisters et al., 2011) ...... 28 Figure 6-6: Oblique aerial view looking southwest across the Nuuluk Prospect (SRK ES, 2016) 29 Figure 6-7: Nuuluk ECZ showing steep-dipping stratigraphy and distinctive oxidation of the sulphide-bearing, carbonate alteration zone with greenstone in the background (SRK ES, 2016) ...... 31 Figure 6-8: Boudinaged quartz vein within the ankerite schist with a low angle of shear (Petersen, 1992) ...... 31 Figure 6-9: Quartz boudin as above, showing accessory sulphide minerals in the quartz (SRK ES, 2016) ...... 32 Figure 6-10: Massive sulphide zone showing deformation (Barnes, 2007) ...... 32 Figure 6-11: Profile of ECZ showing contacts with ‘knobbly’ Greenstone. Red stars show quartz samples for gold analysis (Schlatter & Kolb, 2011) ...... 33 Figure 7-1: Schematic geologic cross section of a low-sulphide gold deposit (Goldfarb et al., 1995) ...... 36 Figure 8-1: 2016 Grab Sample Results (SRK ES, 2016) ...... 38 Figure 8-2: Schematic Sketch of Nalunaq A/S Channel Profile 2...... 40

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List of Technical Appendices 2016 SAMPLE ANALYSIS RESULTS ...... A-54 MINERAL LICENSING DOCUMENTS ...... B-55 SAMPLE STATISTICS ...... C-56

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AN INDEPENDENT TECHNICAL REPORT ON THE TARTOQ PROJECT, GREENLAND

1 INTRODUCTION AND TERMS OF REFERENCE The Tartoq Project is a gold exploration project, located in southwest Greenland, approximately 330 km southeast of the capital, Nuuk. Nalunaq A/S owns 100% of an exclusive exploration licence covering the Tartoq Project. SRK Exploration Limited (“SRK ES”) was commissioned by Nalunaq A/S to produce an Independent Technical Report for the Tartoq Project (the “Project”) located in Greenland. This report will be included in a prospectus in support of Nalunaq A/S’ listing on the TSX Venture Exchange (“TSX-V”). This report has been prepared under the guidelines of National Instrument 43-101 and accompanying documents 43-101.F1 and 43-101.CP (“NI43-101”). This technical report summarises the technical information available on the Tartoq Project and demonstrates that the Tartoq Project qualifies as an “early stage exploration property” as defined by NI 43-101 and in SRK ES’ opinion should be considered a property of merit. Scope of Work The scope of work, as defined in a letter of engagement executed on 13 August 2016 between Nalunaq A/S and SRK ES, includes the preparation of an independent technical report in compliance with National Instrument 43-101 and Form 43-101F1 guidelines. Basis of Technical Report This report is principally based on information provided by Nalunaq A/S and that sourced from the public domain by SRK ES. Notes taken during a site visit conducted by Mr William Kellaway (SRK ES) on 24 August 2016 included a review of the Nuuluk prospect’s geology in the Tartoq Project area, which was covered by the 2016 exploration programme. Further information was obtained from the public domain, particularly from the Geological Survey of Denmark and Greenland (“GEUS”). SRK ES has no reason to doubt the reliability of the information provided by Nalunaq A/S and all technical data received has been taken in good faith. This technical report is based on the following sources of information:  Discussions with Nalunaq A/S personnel;  Historic reports from previous holders of the Tartoq exploration licence;  Information provided from site investigations conducted at the Nuuluk prospect within the Tartoq Project area;  Review of exploration data collected by Nalunaq A/S in 2016; and,  Additional information from public domain sources. Where used, the data sources are cited in the text and are fully referenced in the References section. Unless indicated otherwise, all of the coordinates stated in this report are in Universal Transverse Mercator (“UTM”) projection (Zone 22N) and the 1984 World Geodetic System datum (“WGS84”).

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Qualifications of SRK ES SRK ES is part of the SRK Group which comprises more than 1,300 professionals, offering expertise in a wide range of resource engineering disciplines. The independence of the SRK Group is ensured by the fact that it holds no equity in any project it investigates and that its ownership rests solely with its staff. These facts permit SRK to provide its clients with conflict- free and objective recommendations. SRK has a proven track record in undertaking independent assessments of Mineral Resources and Mineral Reserves, project evaluations and audits, technical reports and independent feasibility evaluations to bankable standards on behalf of exploration and mining companies, and financial institutions worldwide. Through its work with a large number of major international mining companies, as well as junior and mid- tier exploration companies, the SRK Group has established a reputation for providing valuable consultancy services to the global mining industry. The principal author of this technical report is Mr James Gilbertson, CGeol (Chartered Geologist, Geological Society of London, 1013644). By virtue of his education, membership to a recognised professional association and relevant work experience, Mr Gilbertson is an independent Qualified Persons as this term is defined by National Instrument 43-101. Additional contributions were provided by: • Patrick Johnson, FGS; • Jon Russill, FGS. All contributors to this report are fulltime employees of the practices within the SRK Consulting Group. Site Visit The Qualified Person (QP) for this commission, Mr James Gilbertson, has not visited the Tartoq Project to perform a current personal inspection in accordance with National Instrument 43-101 guidelines. This is due to seasonal weather conditions (snowfall) that occurred between the time that licence no. 2015/17 was transferred to Nalunaq A/S and when this report was commissioned that has limited access to the project site. Mr Gilbertson, is scheduled to visit the site at the start of the 2017 field season, which is expected around June, 2017. Acknowledgement SRK ES would like to acknowledge the support and collaboration provided by Nalunaq A/S management and personnel for this assignment. Their collaboration was greatly appreciated and instrumental to the success of this project. Declaration SRK ES’ opinion contained herein and effective as of 30 January 2017, is based on information collected by SRK ES throughout the course of its investigations, which in turn reflect various technical and economic conditions at the time of writing. Given the nature of the mining business, these conditions can change significantly over relatively short periods of time. Consequently, actual results may be significantly more or less favourable. SRK ES has confirmed that the data reported herein are within the licence boundaries given below. SRK ES has not, however, conducted any legal due diligence on the ownership of the licences themselves. SRK ES has not undertaken any detailed investigations into the legal status of the project nor any potential environmental issues and liabilities the project may have at this stage. SRK ES is not aware of any other information that would materially impact on the findings and

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conclusions of the report. SRK ES was informed by Nalunaq A/S that there are no known litigations potentially affecting the Tartoq Project. This report may include technical information that requires subsequent calculations to derive sub-totals, totals and weighted averages. Such calculations inherently involve a degree of rounding and consequently introduce a margin of error. Where these occur, SRK ES does not consider them to be material. SRK ES is not an insider, associate or an affiliate of Nalunaq A/S, and neither SRK ES nor any affiliate has acted as advisor to Nalunaq A/S, its subsidiaries or its affiliates in connection with this project. The results of the technical review by SRK ES are not dependent on any prior agreements concerning the conclusions to be reached, nor are there any undisclosed understandings concerning any future business dealings.

2 RELIANCE ON OTHER EXPERTS The information reviewed in preparing this report has been provided directly by Nalunaq A/S, or has been sourced by SRK ES from the public domain (Table 2-1). The authors, in writing this report, used sources of information as listed in the references section. Some of the reports used by SRK ES in the creation of this technical report are authored by persons who are not recognised as independent Qualified Persons as this term is defined by National Instrument 43-101. In this case, SRK ES has relied upon the professional measures used by the companies who completed the work. The information in those reports is assumed to be accurate based on the data review conducted by the author, but is not NI43-101 compliant. SRK ES has not performed an independent verification of land title and tenure information as summarised in Section 3 of this report. SRK ES did not verify the legality of any underlying agreement(s) that may exist concerning the permits or other agreement(s) between third parties, but has relied on information provided by Anita Strauss Sørensen of Nuna Law Firm, Greenland, as expressed in a legal opinion provided to Nalunaq A/S on 2nd February 2017. A copy of the title opinions is provided in Appendix B. The reliance applies solely to the legal status of the rights disclosed in Sections 3.1 and 3.2 below. The majority of the information used by SRK ES to create the Exploration and Sample Preparation, Analysis and Security Sections (Sections 8 & 10) has been provided by Mr Joshua Hughes. Mr Hughes was previously a director of Nanoq Resources and was commissioned by Nalunaq A/S to design and lead the exploration programme during the 2016 field season. SRK ES was informed by Nalunaq A/S that there are no known litigations potentially affecting the Tartoq Project.

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Table 2-1 Sources of information Section Sources of Information 5. History Previous exploration reports sourced from the Geological Survey of Denmark and Greenland (“GEUS”) 6. Geological Setting and Various academic publications, previous company reports Mineralisation sourced from GEUS, personal communications with geologists that worked at Tartoq and corporate promotional material published by Nanoq Resources Ltd. 7. Deposit Types Academic publications and information sourced from GEUS 8. Exploration Information provided by Nalunaq A/S / Joshua Hughes and SRK ES’s non QP due diligence site visit 10. Sample Preparation, Information provided by Nalunaq A/S / Joshua Hughes and Analysis and Security SRK ES’s non QP due diligence site visit

3 PROPERTY DESCRIPTION AND LOCATION Introduction The Tartoq Project covers an “official area” (all parts of the licence excluding those covered by sea) of 78 km2 in south-western Greenland, some 330 km from the capital, Nuuk. The approximate centre of the project is 61°30ʹ N latitude and 48°40ʹ W longitude (Figure 3-1). The Tartoq Project flanks the Sermilgaarsuk Fjord and is split in to two licence sub-blocks; Nuuluk on the southern side of the fjord and Iterlak on the northern side to the east. Mineral Tenure Prior to Nalunaq A/S’ ownership, the exploration licence that covers the Tartoq Project was held by Nanoq Resources Ltd., a private company registered in the United Kingdom. On 6 July 2016, Nalunaq A/S entered into a sale and purchase agreement with Nanoq Resources Ltd. in order to acquire the exploration licence and all rights and titles that it conveys. The purchase also included the transfer of liabilities related to the exploration licence which, as far as SRK ES is aware, only extend to the non-fulfilment of DKK 553,120 (USD 79,417 as on 7 February 2017) of exploration obligations for the year 2015. The sale and purchase agreement is included in Appendix B. Following the acquisition of the licence, on 9 December 2016 the Mineral Licence and Safety Authority (“MLSA”) approved the transfer of exclusive mineral exploration licence number 2015/17 from Nanoq Resources Limited to Nalunaq A/S (Table 3-1 & Section 3.6.2). This transfer was signed by the Government of Greenland on 16 January 2017. The exploration licence is valid for the remainder of the original licence term granted to Nanoq in 2015, and expires on 31 December 2019. The licence conveys the exclusive right to explore for all mineral resources except hydrocarbons and radioactive elements. After their acquisition of the project, Nalunaq A/S reduced the size of the licence area from the previous 248 km2 to 78 km2, comprising two sub-areas over the Nuuluk and Iterlak prospects, as shown in Figure 3-1. This reduction was approved by the Government on 16 January 2017. The boundary coordinates of the exploration licence area are provided in Table 3-2.

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Figure 3-1: The location of the Tartoq Project, exploration licence number 2015/17 (SRK ES, 2016).

Table 3-1: Exploration licence number 2015/17 - the Tartoq Project (Source: Nalunaq A/S) Licence Licence Valid From Expiry Date Licence Size No. Name

2015/17 Tartoq 01/01/2015 31/12/2019 78 km2

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Table 3-2: Boundary coordinates for exploration licence number 2015/17 (Source: Nalunaq A/S)

Longitude Latitude Block Point Deg Deg Min Min W N Nuuluk 1 48 53 61 27 Nuuluk 2 48 51 61 27 Nuuluk 3 48 51 61 28 Nuuluk 4 48 45 61 28 Nuuluk 5 48 45 61 26 Nuuluk 6 48 46 61 26 Nuuluk 7 48 46 61 24 Nuuluk 8 48 50 61 24 Nuuluk 9 48 50 61 23 Nuuluk 10 48 53 61 23 Iterlak 1 48 37 61 36 Iterlak 2 48 32 61 36 Iterlak 3 48 32 61 31 Iterlak 4 48 38 61 31 Iterlak 5 48 38 61 35 Iterlak 6 48 37 61 35

Under the terms of the licence the Company is obligated to spend exploration expenses in each calendar year calculated on the years held and size of the licence as follows;

Years 1 and 2: DKK 161,500 + DKK 1,620/km 2 Years 3, 4 and 5: DKK 323,000 + DKK 8,080/km 2 Years 6 – 10: DKK 646,000 + DKK 16,150/km 2

Annual licence fees only apply to licences from year six and onwards, and shall be paid to the MLSA. As of January 2016, the annual fee for years six and onwards was DKK 40,400. The Company is under no obligation to relinquish any parts of the exploration licence. The licence may be renewed upon expiry at the end of year five as long as it has been kept in good standing and obligations met and on payment of a DKK 35,200 renewal fee. If the licensee has found and delineated commercially viable deposits which the licensee intends to exploit, and provided the terms of this licence have been complied with, the licensee is entitled to be granted an exploitation licence. This is subject to the Greenland Government’s approval of a Bankable Feasibility Study, which must be provided as part of this application. Underlying Agreements As far as SRK ES is aware, there are no underlying agreements in connection with the licence beyond the standard terms set out by the Government of Greenland. The terms of acquisition of the licence are set out in the sale and purchase agreement described in Section 3.2 and shown in Appendix B, but these are not considered material to the development of the project. A title opinion letter provided by Nuna Law Firm of Nuuk, Greenland, (shown in Appendix B) confirms that the licence is in good standing.

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Permits and Authorisation All exploration programmes in Greenland, including those at Tartoq, must be approved by the MLSA in Greenland before they can commence. Work programme application forms and a safety contingency plan must be submitted to the MLSA for approval no later than 1st May in the year that the exploration is planned. Environmental Considerations As far as SRK ES is aware, Nalunaq A/S is not subject to any current environmental liabilities in connection with the Tartoq Project. All work programmes are reviewed by the Environment Agency for Mineral Resource Activities (“EAMRA”) and their approval is required before work can commence. Furthermore, exploration activities must adhere to the “Rules for Fieldwork and Reporting Regarding Mineral Resources” as published by the Government in 2000, which includes measures to protect the environment and wildlife. Mining Rights in Greenland 3.6.1 Legal Foundation The Greenland Parliament Act No. 7 of 7 December 2009 on mineral resources and mineral resource activities (the Mineral Resources Act), came into force on 1 January 2010. Amendments were made to the Act in 2012 and 2014. The Act is intended as a framework that lays down the main principles for the administration of mineral resource activities and authorises the Greenland Government to lay down provisions in executive orders and standard licence terms as well as specific licence terms. The Act aims to ensure that activities under the Act are properly performed as regards safety, health, the environment, resource exploitation and social sustainability as well as being properly performed according to acknowledged best international practices under similar conditions. 3.6.2 Types of Mineral Licences

Prospecting Licences These are intended for early stage mineral prospecting activities (excluding drilling) and are granted for periods of up to five years at a time. They do not confer any exclusive rights to exploration and a similar licence or other types of licence may be granted to others for the same area.

Exploration Licences These provide exclusive rights for the licensee to undertake mineral exploration activities for all commodities (excluding hydrocarbons) within the licence area. They must have a minimum size of 5 km2 and may consist of up to five separated sub-areas with no more than 100 km distance between areas. Exploration licences are granted for an initial period of five years, after which the licensee is entitled to apply for a new period of five years for the same area. At expiry of the second licence period (years 6-10) the licensee may apply for further two year periods for the same area up to a maximum of 16 years (years 11-12, 13-14 and 15-16). A fixed fee per square kilometre must be paid to the Government annually and this increases with the age of the licence. Additionally, the licensee is committed to a minimum exploration expenditure per licence per year. This amount is defined by the Government and is the same for all exploration licences, and it also increases with the age of the licence.

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Exploitation Licences An Exploitation Licence may be granted to an Exploration Licence holder who has discovered and delineated commercially exploitable Mineral Resources and whose Bankable Feasibility Study (which must include a declaration of Mineral Reserves) has been approved by the Government. The licence conveys the owner exclusive rights to exploitation and exploration and is granted for a period of 30 years (unless a shorter period is stipulated as a condition) up to a maximum of 50 years. The licence is terminated when exploitation activities have ceased and a closure plan (agreed with the Government at the time of application for the Exploitation Licence) has been completed to the Government’s satisfaction. Suspension of exploitation activities with a view to their subsequent resumption is possible but subject to approval by the Government. Approval may be granted for up to two years at a time, and renewed approval may be granted on modified terms. If temporary suspension has lasted six years, the Government may order the licensee to implement the closure plan. 3.6.3 Administrative Authorities The administrative authorities within the Government of Greenland that have responsibility for all matters relating to mineral resources are:

The Mineral Licence and Safety Authority (“MLSA”) The MLSA is responsible for issuing mineral licences and for safety matters including supervision and inspections. Licensees and other parties covered by the Mineral Resources Act communicate with the MLSA and receive all notifications, documents and decisions from the MLSA.

The Ministry of Mineral Resources (“MMR”) The MMR is responsible for strategy-making, policy-making, legal issues and marketing of mineral resources in Greenland. The Ministry deals with geological issues through the Department of Geology.

The Ministry of Industry, Labour and Trade (“MILT”) The MILT is the authority for issues concerning industry and labour policy including Social Impact Assessments (“SIA”) and Impact Benefit Agreement (“IBA”) for mineral resources and similar related socio-economic issues.

The Environmental Agency for Mineral Resource Activities (“EAMRA”) EAMRA is the administrative authority for environmental matters relating to mineral resource activities, including protection of the environment and nature, environmental liability and EIAs.

4 ACCESSIBILITY, LOCAL RESOURCES, INFRASTRUCTURE, CLIMATE, AND PHYSIOGRAPHY Access to the Tartoq Project is by chartered helicopter or boat from Paamiut, some 80 km northwest of the Project. Paamiut is accessible by twice-weekly scheduled Air Greenland flights from both Nuuk (50 minutes) and Narsarsuaq (2.5 hours in the summer only). Nuuk is connected by a 45-minute schedule flight to Kangerlussuaq from where international flights depart for Denmark up to six times a week in summer and three per week in winter. International flights from Narsarsuaq to Copenhagen run three times per week only in the summer months. Paamiut is Greenland’s eighth largest settlement with approximately 1,430 inhabitants in 2016 (City Population, 2016). It is a sea port that is free from ice year-round making it a suitable port

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of call for the Arctic Umiaq passenger and freight shipping line that serves the communities of southwest Greenland. The nearest settlement to the project is Arsuk, 45 km to the south, which also hosts a heliport. The project area is characterised by deep fjords and exposed coastlines which are generally ice-free. The topography varies between sea level and 500 m elevation, and higher elevations typically form ridges separated by elongated valleys with occasional flat lying swampy areas. As is typical of Greenland, glacial erosion has scoured the landscape resulting in only a thinly developed regolith, supporting sparse scrubby bushes and grasses. The inland Greenland ice cap commences some 40 km east of the project at the head of the Sermiligaarsuk Glacier.Rock outcrop is abundant within the licence. According to the Danish Meteorological Institute (DMI, 2016), average daytime temperatures for Paamiut range from -3°C to 9°C (January and July) and average night-time temperatures from -7°C to 6°C (January and July). Precipitation averages a minimum of 58 mm in both April and May and a maximum of 92 mm in August, for an average annual total of 874 mm. There is no infrastructure within the licence area and access is on foot or by helicopter. Given the remote location of the project, any development of the site for mineral exploration and mining would require self-sufficiency in terms of utilities and infrastructure. Some staffing may be sourced from Paamiut or Arsuk, but a skilled workforce will likely need to come from Nuuk. Photographs that show the general terrain in the area are provided in Figure 4-1 to Figure 4-3.

Figure 4-1: Aerial view of the part of the Nuuluk prospect, looking southwest towards Tartoq Fjord in the middle distance (Source: SRK ES, 2016) Within Figure 4-1 the greenstone belt lithologies are represented by the brown coloured rocks with paler carbonate alteration between them.

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Figure 4-2: Typical terrain in the Nuuluk prospect, looking towards the northeast (Source: SRK ES, 2016)

Figure 4-3: View north-eastwards from the northern part of the Nuuluk prospect along Sermiligaarsuk Fjord. (Source: SRK ES, 2016) The general locations of other greenstone belts in the area are shown in Figure 4-3 (Bikuben not visible in this photograph). For scale, Iterlak is about 15 km from the photograph location.

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5 HISTORY Introduction Gold mineralisation was first discovered in the Tartoq Project area in the 1970s by Cominco and Renzy Mines Ltd. Subsequent work reportedly included prospecting, rock sampling, channel sampling and a limited amount of core drilling. The details of the exploration history for the project are described below in chronological order. Details of this work have been taken from a number of historical reports as obtained by SRK ES from GEUS. The majority of this information has been summarised from a 1993 exploration report by NunaOil A/S (Gowen, 1994) unless otherwise referenced. Exploration History 5.2.1 Greenland Geological Survey Regional geological mapping in the area was carried out over the Tartoq Project area during the period of 1954-60 by the Geological Survey of Greenland (“GGU”, later “GEUS”) as part of a systematic mapping and sampling programme along the western coast of Greenland. 5.2.2 Renzy Mines Ltd. Renzy Mines Ltd (with the assistance of Cominco Ltd in 1974) carried out reconnaissance prospecting over the Tartoq Project area in 1970-74. This work including the collection of a number of rock grab samples (SRK ES is not aware of exact quantities and methods of collection) resulting in the discovery of gold mineralisation in the Nuuluk and Iterlak prospects with five grab samples returning gold values of >10 g/t (King, 1983). The prospective units were identified as massive sulphides on the contacts of greenschists with carbonate alteration (Geisler, 1972) and Banded Iron Formations (“BIF”) with the latter limited to the Iterlak prospect. The project was relinquished by Renzy in 1974 due to the isolated nature of the anomalies discovered and the relatively low gold price at the time. 5.2.3 Greenex A/S Greenex A/S, a subsidiary of Cominco Ltd., was granted a prospecting licence over the Tartoq Project in 1982 and undertook exploration between 1982 and 1986. The majority of the work was undertaken in 1983 and was primarily focused on the Nuuluk area. This consisted of detailed geological mapping (1:10,000 and 1:1,000), rock sampling and stream sediment sampling. This culminated in 1984 with a shallow ‘Winkie’ drilling programme of 23 holes totalling 460 m of small diameter (35 mm) drill core. The drilling targeted down-dip extensions of three anomalous areas along the ankerite schists to the east which would later be known as the Eastern Carbonate Zone (“ECZ”) parallel to the Western Carbonate Zone (“WCZ”) shown in Figure 5-1. This phase of drilling also aimed to establish the grade of the known mineralisation in unweathered rock and to investigate the potential for the mineralised zones to thicken at depth. All holes were drilled with a southeast azimuth (108° to 120°) and a -45° to -50° inclination (Figure 5-1). The Winkie drilling achieved good penetration in the upper carbonate altered schists but struggled with the harder quartz material encountered at depth. The results from this drilling were generally poor with the only significant intersection being in drillhole N1 (Figure 5-2) which was graded 4.8 g/t gold over 2.5 m, and this intersection can be traced up to mineralisation at surface (Williams, 1985). An electromagnetic geophysical survey was carried out in 1985, targeting sulphide units identified by Greenex’s previous work. The survey was carried out over the Nuuluk prospect (exact location unknown) using Horizontal-Loop Electromagnetic (“HLEM”) and Very Low

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Frequency Electromagnetic (“VLF”) methods. The surveys identified two weak anomalies over the two gold-bearing horizons of the ECZ and WCZ, which were complex and did not appear to increase in magnitude with depth (Williams, 1985). Due to the poor drilling results and inconclusive geophysical surveys, Greenex relinquished the concession in 1986.

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Figure 5-1: Collar Map of Greenex A/S Winkie Drilling (map sourced from GEUS, modified by SRK ES, 2016)

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Figure 5-2: Cross-section looking south west showing N1 drill hole (Greenex, 1985)

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5.2.4 NunaOil NunaOil A/S held the concession covering the Tartoq project area from 1990-93 and undertook various exploration programmes over the Nuuluk and Iterlak prospects. These included detailed geological mapping down to a scale of 1:1,000 in the most prospective areas, rock and stream geochemical sampling, geophysical surveys (electromagnetics and magnetics), systematic channel sampling over Nuuluk and a small diamond drilling programme on the WCZ and at Iterlak. The geological mapping focused on the prospective units, namely the carbonate-altered ankerite schists of the WCZ and ECZ within the Nuuluk prospect and the BIF units and the West Valley banded Sulphide Showing (“WVSS”) in the Iterlak prospect. Mapping in the Nuuluk area showed that the highest gold grades are related to quartz-ankerite veins that have been sheared, forming boudin-like lenses. Gold mineralisation was also found in massive pyrite-arsenopyrite layers, sericite schists and sulphide-chert horizons in the WCZ. A programme of grab sampling was undertaken, in conjunction with geological mapping, targeting the prospective units for assay (gold and base metals) as well as a few for whole rock geochemistry. A ground-based geophysical survey was also undertaken by NunaOil which included electromagnetics (HLEM and VLF) and magnetics. These surveys were run in tandem over the WCZ and the WVSS. The HLEM proved ineffective due to the rugged topography introducing too many artefacts that could not be removed by processing. A wide spaced channel sampling programme (100 m between channels) was also undertaken predominantly over the ECZ, plus minor sampling on the WCZ. Channels were orientated perpendicular to strike and targeted the prospective quartz-ankerite and ‘rust’ zones in the ankerite-altered schists. This programme totalled 800 m of sampling (Figure 5-3) with mapping performed along each channel at a 1:100 scale. The channel samples were taken using a diamond saw to install two parallel cuts and the material between the cuts was then chipped out to produce the sample. Samples averaged 2.25 m in length (according to the historical database), with the starts and ends of samples controlled by lithological variations. This work showed that the gold mineralisation is strongly linked to the quartz-ankerite veins and pyrite- arsenopyrite bodies with very low to background-level gold values in the hosting ankerite carbonate schists. The most elevated gold grades were limited to the northern and southern end of the ECZ with a few high-grade outliers. The channel locations are shown in Figure 5-3 and are expressed as points with a grade. No digital lithological data or survey information for the channel sampling has been seen by SRK ES. It appears that in some areas the channels crossed most of the mineralised ECZ, and in other areas the channels were taken more sporadically within prospective lithologies. Based on the work detailed above, namely the geophysical results and the presence of interpreted felsic volcanics, NunaOil interpreted the mineralisation systems for the WCZ and the WVSS as an Archaean Volcanogenic Massive Sulphide (“VMS”) system. This was predominantly based on the massive sulphide mineralisation and electromagnetic anomalies. Exploration focus in these areas was therefore directed more towards the potential for copper- zinc potential.

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Figure 5-3: NunaOil Channel Sampling over ECZ (Source: SRK ES, 2016)

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Figure 5-4: Geophysical cross-section over the WCZ looking north (Petersen, 1992)

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In 1993 NunaOil re-analysed some of the core samples from the shallow Winkie drilling undertaken by Greenex in 1984. The original core sampling focused on the narrow quartz vein and massive sulphide lenses. NunaOil’s objective was to test the gold potential in the surrounding country rock. This involved re-logging the holes and re-analysing 180 samples from around 310 m of previously un-sampled core (Gowen, 1993). These samples were on the contact with the previously identified prospective lithologies. The results were poor, with the highest samples reporting grades of 165 ppb gold. This, together with the results from the channel sampling and geophysics, led to NunaOil ending exploration on the ECZ, deeming it non-economic for gold. They subsequently focused on the more continuous massive sulphides within the WCZ and the WVSS in Nuuluk and Iterlak respectively. A scout drilling programme was undertaken by NunaOil in the summer of 1993, targeting the anomalies identified in the WCZ of the Nuuluk prospect and the WVSS and BIF targets in Iterlak. The programme included 13 holes totalling 1,364 m of BQ core drilling with five holes at Nuuluk and eight holes at Iterlak. The targets in both areas were large lenses of massive sulphide mineralisation which were interpreted to be gold and/or zinc-bearing VMS-style mineralised zones based on the electromagnetic and magnetic surveys and the decimetre-scale mineralisation at surface. Drilling results in both prospects failed to identify significant base metal grades. The drilling on the WCZ at Nuuluk intersected thick graphite bearing schists which were interpreted as the cause of the VLF geophysical anomalies. Only one significant intersection of 6.6 g/t gold over 2 m relating to a discrete quartz vein included within some ankerite schist was reported. Drilling in the Iterlak prospect targeting the WVSS reported intersections of 30 m of folded and alternating massive sulphides and quartz that could be traced for 600 m along its strike. The gold results from this drilling showed that the mineralisation was fairly low grade within the massive sulphides (predominantly <1 g/t), with higher grades limited to the main fold hinges and upper sulphide zone. The best intersection from the drilling was from sericitic schist in the hanging wall which contained a pyrite-bearing quartz vein grading 8.28 g/t gold over 1.97 m. Two holes were also drilled to the east of the WVSS into iron-bearing graphite schists in the area of the Lower Hillside Anomaly (“LHA”). Results from these holes returned no high grade intersections for the target base metals although they did contain limited gold intersections. The gold results were not repeatable along strike and, although the sulphide unit can be traced at surface, the continuity is not yet fully understood. NunaOil considered the results from their prospecting and drilling to be sub-economic as a base metal and/or gold project and decided to relinquish the concession in 1994.

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Figure 5-5: Collar Map of NunaOil Drilling on Nuuluk and Iterlak (Source: SRK ES, 2016)

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Table 5-1: NunaOil Summary Drilling Information (Petersen, 1992)

Prospect Target Hole ID Azimuth Dip Depth Comments Best Intersections

Nuuluk WCZ NUL-DH-1 110 -45 133.89 No massive sulphides. Graphic schists between 33.9- 0.52 g/t Au, 42.5 - 44.5 m 52.2 m Nuuluk WCZ NUL-DH-2 110 -85 109.44 No massive sulphides. Graphic schists between 2.31 g/t Au, 84 - 90 m including 41-58.5 m. Qtz-pyrite veinlet at 89.1 m. 6.65 g/t Au, 88 - 90 m Nuuluk WCZ NUL-DH-3 110 -45 97.30 No massive sulphides. Occasional graphite 0.13 g/t Au, 36 - 38 m throughout hole Nuuluk WCZ NUL-DH-4 110 -85 109.50 No massive sulphides. Occasional graphite No assays over 0.1 g/t Au throughout hole Nuuluk WCZ NUL-DH-5 105 -45 124.74 No massive sulphides. Graphite schists between 0.73 g/t Au, 46 - 48 m 41-44 m Iterlak WVMS ITD-DH-01 050 -45 63.75 30 m section of massive pyrite/chert and sericitic 0.69 g/t Au, over 7.93 m, including schist. 1.22 g/t Au, 15.6-18 m Iterlak WVMS ITD-DH-02 050 -85 54.59 30 m section of massive pyrite/chert and sericitic 0.79 g/t Au over 6.3 m including schist. 1.23 g/t Au, 15.7-18 m Iterlak WVMS ITD-DH-03 088 -45 103.39 No massive sulphide intersected. No assays over 0.1 g/t Au

Iterlak WVMS ITD-DH-04 088 -85 78.99 Semi-massive sulphides intersected between 8.28 g/t Au, 41.1 - 43 m 59.54-60.8 m. Iterlak WVMS ITD-DH-05 095 -45 139.99 25 m section of sericite schist with 3-5% pyrite 0.33 g/t Au, 94 - 96 m

Iterlak WVMS ITD-DH-06 095 -75 121.69 20 m section of sericite schist with 3-5% pyrite No assays over 0.1 g/t Au

Iterlak LHA ITD-DH-07 120 -45 97.29 2 m section of silicified greenstone with semi-massive No assays over 0.1 g/t Au. Fe-sulphides and graphite, 46.8-48.6 m. Iterlak LHA ITD-DH-08 120 -85 115.59 2 m section of silicified greenstone with semi-massive 0.18 g/t Au, 45 - 48 m. Fe-sulphides and graphite, 77.6-78.8 m. Note: SRK ES does not have sufficient structural information to calculate true widths of mineralised intersections.

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Nuuluk Iterlak WCZ WVSS

EOH: 63.74 m EOH: 54.59 m

EOH: 133.89 m EOH: 109.44 m Figure 5-6: Drilling cross-sections. Left: WCZ drilling at Nuuluk looking north. Right: WVSS drilling at Iterlak looking north (Petersen, 1992)

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5.2.5 Nordic Mining Ltd. Nordic Mining Ltd. held a concession which covered the Nuuluk and Iterlak prospect areas of the Tartoq Project from 2006-11. Their work was primarily focused on verifying the previously identified prospective areas and re-sampling the gold-bearing units in the ECZ and WCZ at Nuuluk and the WVSS at Iterlak. Field exploration was relatively limited, with the main programme undertaken in 2011 by Zhongrun Mining Co. Ltd. on behalf of Nordic Mining. This work included geological mapping over the main Nuuluk and Iterlak prospects at 1:10,000 and a small grab and channel sampling programme including 14 and 30 samples respectively, predominantly targeting the ECZ of Nuuluk. Results from this work failed to repeat the high- grade gold mineralisation previously reported within these prospects (Nordic, 2012).

6 GEOLOGICAL SETTING AND MINERALISATION Regional Geology The geology of south-western Greenland is dominated by the North Atlantic Craton (“NAC”) (Figure 6-1). The NAC is composed of predominantly an Archaean tonalite-trodhjemite- granodiorite (“TTG” or basement gneisses) cratonic block. This craton also contains igneous and sedimentary rocks (Archaean in age) which have been subsequently metamorphosed into meta-sedimentary and meta-volcanic assemblages which occur as remnant parts of the cratonic areas. It is these assemblages that form the Tartoq greenstone belt. The subsequent Paleoproterozoic Era saw the growth of the NAC with two separate orogenies causing the accretion of two orogens (belts of rock) in a compressional environment. The Ketilidian Orogen was emplaced to the south and the Nagssugtoqidian Orogen to the north (Figure 6-1). This activity occurred at around 2.0-1.9 Ga (Garde, 2002) and was associated with the emplacement of major intrusive bodies and the formation of sedimentary basins with an overall north-south shortening. The Tartoq greenstone belt is located on the very southern edge of the NAC on the border with the Ketilidian Orogen. The Ketilidian rocks were accreted in a convergent setting with subduction from the south under the existing NAC. This created an arc system with the Archaean basement forming the foreland in the north, a border zone of the Ketilidian Orogen and the forearc basin. This basin accommodated the sediments eroded from the foreland generating the Psammite and Pelite Zones of southern Greenland. A large batholith (the Julianehåb Batholith) was emplaced between the border zone and forearc basin, driven by melting related to the tectonism. These terranes are shown in Figure 6-2.

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Tartoq Project Area

Figure 6-1: North Atlantic Craton and Paleoproterozoic Orogens. KO: Ketilidian Orogen. NO: Nagssugtoqidian Orogen (modified from Zhao et al, 2002)

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Figure 6-2: Geological map of the Ketilidian Orogen in Southern Greenland (after Garde et al., 2002) Inset map of Greenland shows the positions of the Ketilidian orogeny (Ket), the Archaean Basement of southwest Greenland (AB), and the Ammassalik (Am) and Nagssugtoqidian (Nag) orogenic belts.

Project Geology The Tartoq Group is a series of six, kilometre-scale greenstone belts around the Sermiligaarsuk Fjord composed of Archaean greenschist to amphibolite grade supracrustal rocks with sharp tectonic and intrusive contacts with the surrounding Archaean TTG gneissic basement. The exploration licence covers the westernmost two of these belts. The lithologies within the supracrustals include limited metasedimentary units (banded iron formations), submarine mafic metavolcanics (later greenstones) including pillows, shallow mafic sills/dykes and deeper grabbroic, and ultramafic intrusives derived from a mantle source. Felsic horizons are present in all supracrustal belts, but are generally restricted to isolated mylonitic horizons in amphibolite sequences (Kisters et al., 2012). Whole rock isotopic data shows that the units formed at around the same time at about 3,190 Ma (Szilas et al., 2013). Ketilidian (Paleoproterozoic) volcanics are found to the east of the Tartoq Project and granites of a similar age have intruded the TTG basement to the north and south. Gardar age (c. 1,300- 1,100 Ma) dolerite dykes cross-cut the region in a north-easterly direction. The Tartoq Group has undergone two main phases of ductile deformation (D1 and D2) prior to a phase of brittle faulting (Kisters et al., 2011). The initial ductile (D1a) phase is represented by variably-developed foliation (S1) sub-parallel to bedding/layering, mineral stretching, metre- to kilometre-scale recumbent folding that refolded bedding, and low-angled shear zones. Mineral assemblages in these zones are of amphibolite grade. Later deformation (D1b) fabrics are commonly brittle and retrograde, partly or completely overprinting earlier ductile fabrics. D1b

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fault zones are defined by narrow (<2 m) ultracataclasites (>90% matrix) and cataclasite zones that may be narrow (centimetre-scale) or up to several hundred metres wide. The subsequent D2 deformation resulted in the refolding of earlier D1 structures (folding (F1)) by north to northeast trending, both east and west verging, (mainly SW, but also NE), metre- to kilometre-scale multi-phase complex folds (Figure 6-3) with associated foliation (S2). D2 is again associated with the formation of brittle cataclasites and associated fluid flow and alteration.

Figure 6-3: Isoclinal refolding of F1 within the Footwall Imbricated Zone, Nuuluk (Kisters et al, 2011) Later normal faulting is recorded in all greenstone belts of the Tartoq Group, though has not significantly modified the area. The timing of the low-temperature brittle faulting is not clear, but it clearly overprints D1 and D2 related structures and fabrics. Mafic dyke swarms of variable orientation have intruded the TTG-greenstone terrane and are possibly associated with the late normal faulting. In the greenstones, deformation and associated fluid flow have resulted in the pervasive alteration of the supracrustals, creating vuggy or “knobbly” textures that destroy primary structures. Where greenstones have been altered to chlorite-carbonate schist the deformation is ductile, resulting in highly-foliated greenschist packages. This is particularly well developed in the central-eastern parts of the Nuuluk area, where deformation and associated fluid flow along D1b thrusts resulted in localised mineralisation, as well as in the strike-slip shear zones of the Akuliaruseq and Amitsuarsua greenstone belts. The D1b-related retrogression to greenschist facies is near-pervasive in the western belts, but much more localised in the Bikuben greenstone belt (Figure 6-4). Both D1a and D1b resulted in the imbrication of greenstone packages. The common association of basaltic flows, sediments and volcaniclastic ultramafic rocks suggest an oceanic origin of the Tartoq Group, although Kisters et al. (2011) interpret the differences between individual greenstone packages to indicate their variable evolution. The Tartoq Group is unique in the region due to its preserved primary fabrics and more variable

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metamorphic grades. It is the pervasive greenschist retrograde alteration (caused during uplift and cooling) and associated carbonatisation of the sequence that resulted from late-stage, largely structurally controlled hydrothermal fluid infiltration, that is thought to have led to orogenic gold mineralisation at the Tartoq Project. The metamorphic facies over the Tartoq belt generally increases in grade from greenschist in the west through amphibolite and into granulite in the east. The two western greenstone belts covered by the exploration licence show the lower metamorphic grade that is more prospective for gold mineralisation as a result of better preservation of primary fabrics and mineral assemblages.

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Figure 6-4: Geological map of the Tartoq Project clearly defining the six greenstone belts within the Archaean TTG basement and overlying Ketilidian Paleoproterozoic rocks to the east (Source: SRK ES, 2016 modified from Kolb, 2011)

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Prospect Geology and Mineralisation A number of gold occurrences have been identified and variably investigated across the Tartoq Group over the last 40 years. They are described here in terms of the prospect location which, in turn, represent the various greenstone belts within the licence area. 6.3.1 Nuuluk Prospect Nuuluk is the westernmost greenstone belt comprising a sequence of interlayered metavolcanic rocks thrust over TTG gneisses and metamorphosed to greenschist facies (Kisters et al., 2011). Based on lithological and structural characteristics, Kisters et al. (2011) describes the Nuuluk belt as six roughly parallel north-northeast trending domains covering an area of approximately 10 x 4 km (Figure 6-4, Figure 6-5 and Figure 6-6).

Figure 6-5: Schematic cross section through the Nuuluk area (Kisters et al., 2011)

Western Basement Gneisses - These comprise banded gneisses and leucogneisses that contain xenoliths of earlier generations of trondhjemitic gneisses and greenstones. Biotite and hornblende suggest an amphibolite metamorphic grade. Structural measurements indicate that this western part of the prospect forms the east-dipping, western limb of a broad north-plunging synform (Figure 6-5). Western Cataclasite Zone – Interlayered leucogneisses (dominant in the west) and greenstones (increasing eastwards) have been pervasively overprinted by a cataclastic texture over a 1-1.5 km wide zone. Quartz veining and epidote formation is common and sulphide mineralisation (pyrite + chalcopyrite) has been recorded in some quartz veins and cataclasite zones. Central Greenstone Terrane – This zone underlies much of the higher ground in the centre and west of the Nuuluk licence block. It is predominantly composed of basaltic flows and interlayered sediments that are pervasively altered to greenschist facies (chlorite, carbonate and epidote), forming a distinctive blocky or “knobbly” weathered texture. Quartz and quartz- carbonate veining is common throughout. Central Thrust Zone – Highly foliated greenschists enclosing small (hundreds of metres) lenses of low-strain felsic rocks. The eastern footwall of this zone is marked by a distinctive recrystallised marble horizon, up to a few metres wide. Layered Footwall Sequence – Forming the eastern part of the Nuuluk Belt, this zone

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comprises a thick succession of pervasively altered greenstones and interlayered sediments, gently dipping towards the west. The greenschist alteration has created a knobbly texture in weathered basalts and extensive carbonatisation, notably as brownish fuchsite. Boudinaged and folded quartz veins are common, but generally discontinuous. The ECZ and WCZ are located within the layered Footwall Sequence. Footwall Imbricate Zone – This basement of low-grade greenstones is separated from the overlying Nuuluk Belt by a c. 500 m sequence of cataclastic TTG gneisses. It forms the low- level valley in the east of the Nuuluk licence block.

Figure 6-6: Oblique aerial view looking southwest across the Nuuluk Prospect (Source: SRK ES, 2016)

Nuuluk Mineralisation Gold mineralisation is found in two distinct NNE-SSW trending, moderately (~60°) WNW- dipping, 50-100 m wide shear zones that can be traced in outcrop for approximately 5 km. These zones sit within the layered footwall sequence described by Kolb (2011) and have been named the western and eastern carbonate zones due to their distinctive brown-carbonate alteration assemblages. They lie approximately 500 m apart, separated by homogeneous “knobbly” greenstones. The WCZ comprises hydrothermally altered greenschist, magnetite greenschist and graphitic greenschist. The magnetite schists have been interpreted as being formed on an ancient seafloor where waters circulating through a pile of basaltic rocks led to leaching and then precipitation of exhalative deposits of Fe, As, Cu, S and precious metals (Appel and Secher, 1984). This explains the syngenetic sulphide lenses that are up to 0.5 m wide and extend up to

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100 m along strike at the contact between the magnetite and graphite schists in the WCZ (Gowen, 1994). Later diagenesis and metamorphism led to alteration of these schists, mobilisation of metals and re-precipitation into the surrounding strata proximal to the lenses. The schist alteration zone within the WCZ includes ankerite (a calcium iron, magnesium, manganese carbonate mineral), muscovite (fuchsite), chlorite, quartz, pyrite, arsenopyrite, pyrrhotite and tennantite. Gold is found within tennantite-quartz veins, formed in zones of weakness in close proximity to arsenopyrite-pyrite layers. Appel and Secher (1984) state that gold is present as 1-10 µm anhedral inclusions in arsenopyrite and as stringers lining cracks in pyrite. There is then a distal alteration zone comprising carbonate (calcite, dolomite or ankerite depending on rock type), chlorite, pyrite and tourmaline. Thermometry studies of minerals from both zones give temperatures of between 350 °C and 450 °C for the hydrothermal alteration (Kolb, 2011). The sulphide-rich horizons weather to form obvious gossanaous outcrops in the WCZ and ECZ (Figure 6-10). The ECZ hosts up to 20 cm wide chalcopyrite-bearing quartz veins within a series of anastomosing micaceous carbonate-altered greenschists (Figure 6-11), also termed ankerite schists by NunaOil (Petersen, 1992). The carbonate alteration minerals (mostly ankeritic) weather a deep brown rusty colour due to their iron content, as do the occasional sulphide- bearing horizons, and there can be appreciable amounts of fuchsite (muscovite mica). The numerous centimetre-, occasionally metre-wide, quartz-ankerite veins are frequently dislocated by dextral shearing, forming zones of parallel veinlets that can be strongly boudinaged (Figure 6-8 and Figure 6-9) or brecciated. Vein sets are up to 30 m wide and can be traced over tens to hundreds of metres (Appel and Secher, 1984). Gold is observed within these veins as tiny inclusions in chalcopyrite and tennantite, however, its distribution is not yet understood and many of the veins are barren. Observations made during the 2016 field programme indicate that although the carbonate- ankerite schists aren’t themselves mineralised, there are zones of alteration related to structures which contain elevated levels of sulphide mineralisation and gold. It is yet not known if these are syngenetic structures, or later stage cross-cutting features that focused hydrothermal fluids, possibly remobilising minerals (including gold), from primary mineralisation and re-precipitating them in the schists. Gold has not been identified in greenschists outside of the alteration zones, despite the presence of disseminated pyrite, sometimes with pyrrhotite inclusions. A later phase of quartz veining is also common across the area and this has a cleaner, whiter appearance and is devoid of gold mineralisation.

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Figure 6-7: Nuuluk ECZ showing steep-dipping stratigraphy and distinctive oxidation of the sulphide-bearing, carbonate alteration zone with greenstone in the background (Source: SRK ES, 2016)

Figure 6-8: Boudinaged quartz vein within the ankerite schist with a low angle of shear (Petersen, 1992)

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Figure 6-9: Quartz boudin as above, showing accessory sulphide minerals in the quartz (Source: SRK ES, 2016)

Figure 6-10: Massive sulphide zone showing deformation (Barnes, 2007)

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Figure 6-11: Profile of ECZ showing contacts with ‘knobbly’ Greenstone. Yellow circles represent rock samples, red stars show quartz samples for gold analysis (Schlatter & Kolb, 2011)

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6.3.2 Iterlak Prospect The Iterlak Prospect on the northern side of the Sermiligaarsuk Fjord hosts a NNE trending belt of massive to foliated greenstones, metagabbro, muscovite schist, serpentinite, BIF and pegmatites (Kolb, 2011). The greenstone lithologies outcrop over an area of about 3.5 km x 5.5 km. The greenstones are pervasively altered to greenschist facies in the west and amphibolite grade in the east, taking on the distinctive knobbly texture as seen at Nuuluk. Structural deformation appears to have been similar to that at Nuuluk. Later, cross-cutting Gardar age dykes have a northeast orientation. Gold mineralisation has been identified in two NNE-SSW trending zones, each approximately 100 m wide and 200-400 m long (Petersen, 1992). These are named the Western Valley Sulphide Showing (“WVSS”) and Eastern Valley Zone (“EVZ”). The WVSS comprises hydrothermally altered greenschist and BIF. The original magnetite- grunerite-quartz BIF has been completely altered to a finely banded quartz-pyrite composition. A proximal alteration zone includes muscovite (sericite), quartz, ankerite, pyrite and minor chlorite (Kolb, 2011). During their mapping of the WVSS, NunaOil reported that the deposit is banded and consists of four to six parallel sulphide-bearing horizons separated by strongly pyritic sericite schists (Petersen, 1992). Massive pyrite was recorded amongst very cherty horizons, but base metal sulphides in rock chips were generally viewed as not anomalous (Petersen, 1992), leading to SRK ES’ interpretation that the VMS model pursued by NunaOil was wrong. A stratabound banded iron formation deposit model would seem more appropriate based on the evidence (Section 7.2). Kolb (2011) states that pyrite grains contain inclusions of pyrrhotite and sphalerite and that gold mineralisation occurs in the proximal alteration zone and altered BIF, mostly within quartz- ankerite veins. He suggests that gold precipitation occurred as a result of hydrothermal fluids interacting with iron-rich lithologies. This is supported by NunaOil’s drilling results which identified elevated gold in pyrite-bearing quartz veins in the hanging wall of massive sulphides. The EVZ is represented by hydrothermally altered greenstones, talc schist and BIF, with the proximal alteration zone (talc-ankerite-sericite-chlorite-pyrite) confined to the talc schist. A number of other outcrops of pyrite-rich magnetite-BIF ± graphitic schists have previously been identified, extending over hundreds of metres. Both the EVZ and WVSS show complex folding and evidence of shearing.

7 DEPOSIT TYPES The gold mineralisation found in the Tartoq Project can be broadly ascribed to a greenstone belt orogenic deposit type, although it is possible that in some prospects gold was originally deposited in a sulphide-rich, banded iron formation setting that was subsequently altered by typical orogenic hydrothermal fluid movement and quartz vein formation. SRK ES is however aware of any studies that have confirmed gold mineralisation as part of the original mineral assemblages of these iron formations. Orogenic Quartz Vein Gold The following general description has been adapted from Ash et al. (1996) and Goldfarb et al. (1995). Dubé and Gosselin (2007) also provide a comprehensive account of greenstone-hosted quartz-carbonate vein style mineralisation. Low-sulphide quartz-gold vein deposits occur in allochthonous terranes that are dominated by greenstone (Archaean) and turbidite (Phanerozoic) sequences that have been metamorphosed to greenschist facies. These deposits are also known as mesothermal, orogenic, mother-lode,

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greenstone-hosted and turbidite-hosted gold deposits. Hydrothermal veins form within major shears, faults and joint systems produced by regional compression/crustal shortening and in their second and third-order structures offset from the major structures. Gold is deposited at crustal levels within and near the brittle-ductile transition zone at depths of 6-12 km, pressures from 1-3 kbar and temperatures from 200 °C to 400 °C. Deposits may have a vertical extent of up to 2 km, and lack pronounced zoning (Figure 7-1). Most deposits are found in preserved cratonic blocks. Gold-bearing quartz veins and veinlets with minor sulphides crosscut a wide variety of host rocks, forming tabular fissure veins in more competent host lithologies, and veinlets and stringers as stockworks in less competent lithologies. Veins typically occur as anastomosing systems of en-echelon veins on all scales. Individual veins can be up to 10 m wide, but are often discontinuous with strike lengths of less than 100 m. Vein swarms at larger deposits can however extend over a few kilometres in strike and 500 m in width (total swarm). Mineralisation is post-peak metamorphism (i.e. late syn-collisional) with gold-quartz veins particularly abundant in the Late Archaean and Phanerozoic. Textures are often modified or destroyed by subsequent deformation. Gold is generally present as free grains within quartz and in veinlets cutting sulphide grains. Mineralisation often has an appreciable “nugget effect” due to the coarse nature of gold, making economic assessment more difficult. Lower grade gold mineralisation may develop in areas marginal to veins, with gold associated with disseminated sulphides. Host and wall rocks are commonly subject to intense pervasive carbonate alteration along the mineralised structures. Alteration zones are poorly developed in metasedimentary host rocks, but are broad and distinct in both felsic and mafic igneous rocks. Silicification, pyritisation and potassium metasomatism are common within a metre or so of mineralised veins. These are often surrounded by a broader zone of carbonate alteration, with or without ankerite veinlets, extending for up to tens of metres from the veins. The type of carbonate alteration reflects the ferromagnesian content of the primary host lithology, whereby:  ultramafic rock host alters to talc and Fe-magnesite;  mafic volcanic rocks alter to ankerite and chlorite;  sediments alter to graphite and pyrite formation; and,  felsic to intermediate intrusions alter to fuchsite, sericite, tourmaline and scheelite. Disseminated pyrite and/or arsenopyrite are consistently present in these wider alteration haloes. These vein deposits weather to a distinctive (limonite) orange-brown colour due to the oxidation of Fe-Mg carbonates cut by white veins and veinlets of quartz and ankerite. Distinctive green fuchsite may also be present.

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Figure 7-1: Schematic geologic cross section of a low-sulphide gold deposit (Goldfarb et al., 1995)

Stratabound Gold in Banded Iron Formations The following has been adapted from DeWitt et al. (1995). SRK ES considers this type of mineralisation as a more likely explanation for semi-massive or massive sulphides seen at the Tartoq Project, rather than the VMS model proposed by previous workers (Gowen, 1993). Dominantly greenstone belts of Archaean and Proterozoic age contain gold hosted within the sulphide minerals (troilite, pyrrhotite, pyrite and arsenopyrite) of banded iron formations. Sulphide mineralisation is mainly bedding-controlled and is notable by the absence of base metal sulphides, though regional metamorphism can redistribute both sulphides and gold, particularly in quartz veins. Iron-rich beds were most commonly laid down in slowly subsiding, continually rifting basins within Archaean cratons, along with shales and greywackes. Mineralisation was probably syngenetic, formed by hot spring processes during iron deposition onto reducing sea floor environments. Typically, the iron formations are less than 30 m thick, but can be quite continuous along strike. Transitions within iron formations from one facies to another are known, and range from carbonate- to oxide-, silicate-, and sulphide-facies. Minor tuffaceous rocks are associated with some iron-formations, but this component does not appear to be a prerequisite for gold-bearing deposits. Clay-rich layers in the iron formation may have formed by submarine weathering of basaltic material or direct hydrothermal precipitation of iron-rich material. Mineralised beds often contain 1-15 volume percent sulphide minerals, the dominant types being dependent on the seafloor conditions at the time of deposition. Mineralisation may therefore be pyrrhotite-rich, pyrite-rich, or arsenopyrite-rich. Depending on the iron minerals deposited, these deposits may contain appreciable amounts of magnetite (oxide facies) or weakly magnetic pyrrhotite and troilite (carbonate-facies). In addition to sulphide minerals, bedded deposits contain layers comprising siderite, ankerite, quartz, chlorite, biotite, and stilpnomelane.

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These types of deposit are often regionally metamorphosed leading to remobilisation of sulphides (and gold) into quartz veins and alteration haloes surrounding the iron beds (e.g. forming orogenic style gold mineralisation).

8 EXPLORATION Following their acquisition of the licence on 6 July 2016, Nalunaq A/S’ undertook a short programme of fieldwork on the Nuuluk Prospect of the Tartoq Project. The programme took place over two weeks between 14 July and 2 August 2016 by two geologists. The field site was accessed by helicopter and the team was based at a central camp within the Nuuluk Linear Belt. After the sale and purchase agreement for the licence area had been signed, Joshua Hughes (a former director of Nanoq Resources Ltd.) was contracted by Nalunaq A/S to design and lead this work. The focus of the fieldwork was the ECZ and WCZ of the Nuuluk Belt. This fieldwork was designed to better understand the mineralisation system within the project area before planning future, more advanced exploration. The ECZ and WCZ were chosen due to the amount of previous historical exploration and resultant indications of prospectivity. The fieldwork included a grab and channel sampling programme and a review of the various styles of mineralisation within the project area. Grab Sampling 182 surface grab samples and 13 samples of transported float were collected across the Nuuluk Belt (Figure 8-1). The grab samples were taken from in situ material that represented the various styles of mineralisation found in the area. These samples were taken in order to link field observations to gold grades and aid in the understanding of grade distribution along the strike of both the ECZ and WCZ. Transported rock samples were taken where mineralised material was found as float. These samples are not deemed to be representative and are not significant in population or distribution.

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Figure 8-1: 2016 Grab Sample Results (Source: SRK ES, 2016)

The majority of the samples were taken from the ECZ, concentrating on the areas that appeared to be mineralised based on their mineralogy and alteration (Figure 8-1). All surface samples

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were sent to ALS Geochemistry in Loughrea, Ireland, for gold and multi-element geochemical analysis. SRK ES considers the grab samples to be representative of the mineralisation as sampled at that particular point,, but analytical results may not be representative of the wider area. The results can however be used to further understand the different types of mineralisation found at Nuuluk and their relative potential to host gold mineralisation.

Table 8-1: Summary Results of Grab Samples (Source: SRK ES, 2016) Statistics for gold grades (g/t) Sample Lithology Standard Mean Median Range Count Deviation Quartz Vein 1.27 0.03 4.44 27.10 39 Carbonate Schist 1.24 0.18 2.33 9.94 30 Greenstone Various* 0.44 0.01 0.97 2.17 5 Semi-Massive Sulphide 8.40 8.46 4.84 19.63 20 Quartz-Carbonate Vein 0.82 0.06 1.96 10.70 88 Total 1.81 0.13 3.84 27.10 182 *including one sample of quartz-fuchsite breccia The results in Table 8-1 show that four of the five sampled lithologies report elevated gold grades (sampling of the hosting greenstones is not sufficient). The most prospective unit appears to be the massive to semi-massive sulphide lithologies, agreeing with NunaOil’s observations (Petersen, 1992). It is also worth noting that the higher grades within the carbonate schist samples all appear to contain increased amounts of sulphides, according to Nalunaq A/S’ field descriptions. As expected within this type of mineralised system, the quartz veins contain a large range of gold grades relating to a high nugget effect. Channel Sampling Channel sampling was conducted on the main central prospective zone of the ECZ (Figure 8-2) in order to test grade continuity over the mineralised features (quartz veins and parallel massive sulphide horizons (Table 8-2)). In the highest grade sampling locations (according to historical data), several cuts of the same vein were sampled in order to test grade variability within individual quartz veins or massive sulphide. Channel samples were taken using a circular rock saw to make two parallel cuts about 5 cm apart and of consistent depth, perpendicular to the strike of the mineralisation. Material between the cuts was then chiselled out, ensuring no lithological bias and that an equal volume of rock was removed over the length of the profile. A total of 23 channel samples were collected within five areas (Figure 8-2 and Table 8-2) totalling 18.65 m of sample length. Due to the channels within the profiles being so closely spaced and the limited accuracy of the handheld GPS that were used to record their positions, the locations were measured relative to each other and added to a schematic sketch (Appendix D). The initial sample was surveyed in with the GPS to give geographical reference to the work. All channel samples were sent to ALS Geochemistry in Loughrea, Ireland, for gold and multi- element geochemical analysis. The total channel sampling results can be seen in Table 8-2, and an adapted sketch of Profile 2 is shown below in Figure 8-2. This profile reported the highest grade intersection of the programme: 106 g/t gold over 0.5 m on cut D over a boudinaged quartz vein.

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Figure 8-2: Schematic Sketch of Nalunaq A/S Channel Profile 2 (Source: SRK ES 2016)

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Table 8-2: Nalunaq A/S Channel Sample Results 2016 Easting Northing Profile Length Sample Lithology Au (g/t) 618288 6814455 N/A 0.40 Carbonate Schist 1.06 0.50 Carbonate Schist 0.82 0.50 Carbonate Schist 0.16 618290 6814458 Profile 1 0.50 Carbonate Schist 0.18 0.50 Carbonate Schist 0.64 0.50 Carbonate Schist 0.03 1.60 Quartz Vein 0.72 1.15 Quartz Vein 1.85 0.70 Quartz Vein 5.33 618337 6814439 Profile 2 0.50 Quartz Vein 106.00 0.85 Quartz Vein 2.35 0.75 Quartz Vein 1.36 1.00 Quartz Vein 0.03 1.00 Quartz Vein 0.05 1.00 Quartz Vein 0.02 618255 6814478 Profile 3 1.00 Quartz Vein 0.30 1.00 Quartz Vein 3.58 1.10 Quartz Vein 0.05 618232 6814418 Profile 4 1.05 Quartz Vein 0.10 Massive sulphide & 1.10 7.89 Carbonate schist 0.45 Massive Sulphides 8.80 618212 6814323 Profile 5 0.40 Massive Sulphides 11.75 Massive sulphide & 1.10 7.74 Carbonate schist

The results from the channel sampling programme correlate with the grab sampling and historical results. However, the amount of data is not sufficient as to increase the understanding of the ECZ’s prospectivity as a total nor as individual targets within it. SRK ES Interpretation SRK ES has undertaken a statistical review of the historic surface sampling data and the 2016 sampling data, comprising grab, chip, channel and float samples. The historic data has been taken from a database of results from previous explorers (listed in Section 5) that has been compiled by GEUS. It appears that this data set is incomplete and does not include all of the historical results for the project area (for example some of the surface sampling from Greenex A/S exploration) and supporting lithological or metadata for the included data. Logarithmic histograms of gold grades were plotted for the historical sample results (n = 661) and 2016 sample results (n = 218) in order to determine population statistics (Appendix C). Historical sample analyses used assay methods that provided trace level results (ppb) for gold, thus this dataset includes more data below the 0.01 g/t lower detection limit of the 2016 ore- grade fire assays. The 2016 samples returning gold grades below the detection limit have been assigned a grade of half the detection limit. Lithological descriptions for the historic samples have not been available to SRK ES. SRK ES has interpreted a number of sub-populations in both datasets with a broad correlation

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between the two:  A background population (A) can be seen in both datasets with a natural break in gold grade at approximately 0.07-0.1 g/t. This is thought to represent unmineralised greenstones, but also containing a proportion of the hetrogrenious (nuggerty) mineralised quartz vein;  A second population (B) extends to about 0.6 g/t in both datasets and is possibly composed predominantly of carbonate schists with minor or disseminated sulphide (plus gold) mineralisation although this cannot be proven by the 2016 sampling data;  Population C appears to then have a natural break at approximately 4 g/t gold in the historical dataset, but only approximately 2.4 g/t gold in the 2016 data. It is unclear why this difference is observed but maybe related to difference in sampling approach. Population C has been interpreted to comprise samples with a dominant quartz- sulphide vein composition;  Population D extends to around 20 g/t gold in both datasets and likely incorporates gold in semi-massive to massive sulphide mineralisation with/without quartz-sulphide veining. It is noted that the very highest gold grades, including 106 g/t in one sample from 2016, come from quartz-sulphide vein samples, indicating an appreciable nugget effect as is common in quartz vein gold deposits. SRK ES have also plotted the gold grades against iron, copper and arsenic, differentiated between the logged lithologies (Appendix C) for the 2016 sampling programme results (including grab, float and channel samples). These results show that the elevated gold grades are associated with elevated iron and arsenic values, often found within the massive sulphide lithologies. It is SRK ES’ opinion, based on historical and recent exploration results, that the massive sulphides represent one of the key lithologies for gold mineralisation. 8.3.1 Gold Grades in Carbonate Schists The plots shown in Appendix C indicate that gold is present, albeit at modest grades (mean average of 1.1 g/t gold), in the 2016 samples from carbonate schists that form the host rocks to the quartz veins and sulphide-rich bodies. This may seem to contradict conclusions by previous workers that the schists were barren of gold mineralisation (Gowen, 1994). On review of the field descriptions and discussions with the field team, it appears that there are structurally controlled alteration zones within the carbonate schists that have elevated levels of sulphide and gold mineralisation. These schists have a strongly gossanous appearance. The relationship and timing of the structural control for this alteration assemble and related mineralisation is not yet known. In SRK ES’ opinion, it is unlikely that the wider package of schists carries significant gold grades. Elevated grades appear to be restricted to structurally controlled zones of more intense alteration or zones of intense quartz +/- carbonate veining. Further work is required to establish the locations and extents of these alteration zones.

9 DRILLING No drilling has been undertaken by the Company on the Tartoq Project. All historic drilling completed by previous licence owners is summarised in Section 5.

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10 SAMPLE PREPARATION, ANALYSES, AND SECURITY 10.1 Sample Preparation and Analysis Each of the 218 grab or channel samples was placed in a single cotton sample bag which was labelled and sealed at the sample site. These samples were transported back to the field camp each day and then batched up in sequential order into larger plastic bags that were labelled with their contained sample ID range. These were then stacked into plastic sling bags ready to be transported from site via helicopter to Paamiut. The total samples generated during this programme filled two sling bags which, due to logistical reasons, were transported from site at different times. The first bag was transported to Paamiut upon the completion of the programme on 2 August 2016 with the second bag being transported during the SRK ES visit on 24 August 2016. There was a 22-day period during which the second sling bag was unaccompanied. The samples were however stored within the central area of Nuuluk, well out of sight of the shore, inaccessible and not visible to any boat traffic in the area. In Paamiut the samples were received by Royal Arctic Line. They were strapped to pallets and stored within a secure hanger before they were shipped via boat to ALS Geochemistry in Loughrea, Ireland. Apart from the details above, SRK ES is unaware of specific Chain of Custody (“CoC”) procedures. No sample preparation was undertaken by the Company once the samples had been collected in the field. All samples were sent to ALS Geochemistry in Loughrea, Ireland, for geochemical assay. ALS is independent of Nalunaq A/S and has no interest in the Tartoq Project. The laboratory is accredited to the ISO/IES 17025:2005 standard for laboratory testing and calibrations (INAB Registration No: 137T), applicable to methods Au-AA25, ME-MS61 and ME-OG62 that were used for these samples. Samples were received, crushed to 70% passing a 2 mm sieve, split with a riffle splitter and 1 kg was pulverised to 85 % passing a 75 µm sieve. All samples were assayed by the following methods (ALS method codes have been used):  Au-AA25 – gold fire assay for ore grade samples using a 30 g sample weight. The sample is fused with various reagents and cupelled to produce a fused precious metal bead. This bead is then digested in acid and diluted with water before analysis by atomic absorption spectroscopy (“AAS”). Lower and upper detection limits are 0.01 g/t and 100 g/t respectively;  ME-MS61 – 48 elements trace-level assay using a four-acid sample digestion and inductively coupled plasma mass spectrometry (“ICP-MS”) analysis. Additionally, samples that reported grades above the upper detection limit for the above methods were reanalysed using the following methods:  Cu-OG62 – for samples with high grade (>1 %) copper results from ME-MS61. A four acid sample digestion is followed by analysis by inductively coupled plasma atomic emission spectroscopy (“ICP-AES”). Only three Tartoq samples required this additional analysis.  Au-GRA21 – for samples with high grade (>100 g/t) gold results from Au-AA25. The sample is fused with various reagents and cupelled to produce a fused precious bead. Gold and silver are then parted in nitric acid, annealed and weighed. The lower and upper detection limits are 0.05 g/t and 1,000 g/t respectively. Only one sample from the 2016 Tartoq required this reanalysis.

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10.2 Quality Assurance and Quality Control Programmes Duplicates No duplicate samples were submitted by Nalunaq A/S as part of the 2016 sampling programme. Blanks Two blanks samples were included in the sample batch by Nalunaq A/S. These were reportedly composed of certified blank material from a commercial source, but SRK ES has no further information. Both blank samples returned gold grades of 0.02 g/t, above the detection limit of the assay method (0.01 g/t). This does not necessarily indicate a contamination problem, however the blank sample population is too small to reliably inform on this. Certified Reference Materials Certified Reference Materials (“CRMs”) were inserted twice into the sample batch and submitted to ALS for blind assay with the 218 field samples. Two types of CRM were used, both sourced from CDN Resource Laboratories Ltd. Of Langley, BC, Canada:  CDN-GS-3F was prepared from auriferous pyrite-bearing quartz-tourmaline veins mixed with blank granitic material. It has a certified grade of 3.10 ± 0.24 g/t gold (2SD);  CDN-GS-4B was prepared from gold-bearing, highly silicified semi-massive to massive specular hematite hosted in andesites, mixed with granitic blank material. It has a certified grade of 3.77 ± 0.35 g/t gold (2SD). CDN-GS-3F was analysed once during the 2016 programme and returned a grade of 3.43 g/t gold. This is outside of the two standard deviations error of the material certificate. CDN-GS- 4B was also analysed once and returned a grade of 4.17 g/t gold. The certified grade +2SD is 4.12 g/t gold, which is at the very upper limit of what would be acceptable for CRM performance. One result from each CRM is insufficient to assess laboratory performance, and it cannot be determined whether the high results reported may indicate a general over-estimation of gold grade in the 2016 samples. 10.3 SRK ES Comments The 2016 exploration programme should be considered as reconnaissance fieldwork and the shortcomings in the QAQC procedures applied are not considered material to the project. However, the following comments are made such that improvements can be made in future programmes:  Future programmes should instigate a robust Chain of Custody procedure, i.e. not splitting sample batches between different locations and different shipping routes. More effort should be made to ensure sample security, such as the use of locked sample boxes or secure cable ties with unique identification numbers;  The QAQC sample population is too small to statistically analyse the laboratory’s performance. Future sampling should include blanks and CRMs inserted at a rate of at least 5% of the total samples each. Field duplicates should also be considered, or at least the use of crush duplicates should be instigated;  The CRMs used in the 2016 programme were of similar grade to each other. Future programmes should make use of CRMs that better represent the expected spread of grades at the project;  The CRMs used in future should be matched by their matrix to the styles of mineralisation and lithologies expected within the project.

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11 DATA VERIFICATION The QP for this report has not visited the Tartoq Project site due to logistical reasons related to timings and seasonal weather conditions. Mr William Kellaway (An experienced, competent SRK ES Geologist who is not considered a QP under National Instrument 43-101) visited the Tartoq Project on 24 August 2016 to conduct a due diligence review after the sale had been agreed but the licence transfer had yet to be completed. He was accompanied by Mr Eldur Olafsson of Nalunaq A/S and other Nalunaq A/S geologists. The purpose of the site visit was to inspect the principal area of interest in the Nuuluk prospect that was covered by the 2016 Nuuluk exploration programme. Fieldwork had been completed by the time of the site visit, so it was not possible to observe sampling procedures first hand. During the visit, particular attention was paid to the area’s geology and the nature of the main prospective units. For logistical reasons, the visit lasted less than half a day and allowed only a brief review of geology and mineralisation. It was not possible to inspect historical sampling locations. SRK ES has not undertaken any independent check sampling of the 2016 field season samples or historic drill core. It is understood that some historical drill core may be stored in Kangerlussuaq, West Greenland, but it was not possible to inspect this core at the time of the site visit. The comparison of historic and 2016 surface sampling results through grade histograms appears to show similar grade populations in both historic and 2016 datasets (Appendix C), suggesting that both programmes may be representative of the various types of gold mineralisation present at the project. There is, however, no record of lithology or mineralisation type for each historic sample, nor a sufficient quantity of samples from the 2016 programme to calculate descriptive statistics and histograms for each lithology and therefore better define the interpreted grade sub-populations and mineralisation types. 11.1 SRK ES Comments It is the opinion of the QP that the available data is adequate for the purposes of this report and the early stage of exploration. The data is considered to reflect the types of mineralisation and gold grades present at the Tartoq Project. Although there are gaps in the recording of sampling procedures and incomplete descriptions of individual samples, the Tartoq Project is at an early stage of development and target generation. Future field programmes should adopt a more rigorous approach to data capture.

12 MINERAL PROCESSING AND METALLURGICAL TESTING This section is not applicable to this report.

13 MINERAL RESOURCE ESTIMATES This section is not applicable to this report.

14 MINERAL RESERVE ESTIMATES This section is not applicable to this report.

15 MINING METHODS This section is not applicable to this report.

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16 RECOVERY METHODS This section is not applicable to this report.

17 PROJECT INFRASTRUCTURE This section is not applicable to this report.

18 MARKET STUDIES AND CONTRACTS This section is not applicable to this report.

19 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT This section is not applicable to this report.

20 CAPITAL AND OPERATING COSTS This section is not applicable to this report.

21 ECONOMIC ANALYSIS This section is not applicable to this report.

22 ADJACENT PROPERTIES There are no properties adjacent to the Tartoq Project.

23 OTHER RELEVANT DATA AND INFORMATION There is no further relevant data or information to report relating to the Tartoq Project.

24 INTERPRETATION AND CONCLUSIONS 24.1 Interpretation Historic investigation of the Nuuluk prospect identified anomalous but intermittent gold grades at surface over a strike length in excess of 5 km. Drilling on part of the ECZ was restricted in depth by the methods used and therefore may not have tested the potential of the altered package to full thickness. Later drilling of the WCZ targeted possible base metal massive sulphides but was deemed unsuccessful because this mineralisation was not discovered. However, reasonable gold grades were found within a quartz-bearing carbonate (ankerite) schist (6.6 g/t gold over 2.0 m). The 2016 fieldwork completed on the Tartoq Project has confirmed the presence of high gold grades previously reported by historic surface sampling. The lithological descriptions of these new grab and channel samples indicate that gold mineralisation occurs in three main settings, as described below. Visual interpretation of log-normal gold grade histograms for the historic and new surface sampling suggests multiple sub-populations, thought to relate to different types of mineralisation. 1. Quartz +/- carbonate veins contain the highest gold grades although these appear to be thin, discontinuous and often boudinaged. Gold is thought to occur as inclusions and fracture fill in sulphide grains (Appel and Secher, 1984) although

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the erratic grades suggest a high nugget effect and the possible presence of coarse gold; 2. Massive and semi-massive sulphide bodies, dominated by arsenopyrite, pyrite and pyrrhotite, consistently contain significant gold grades; 3. Carbonate-altered schists with variable quantities of quartz veining and structurally controlled alteration with increased sulphides. SRK ES is of the opinion that gold grades in the schists are most likely derived from increased levels of fluid flow due to cross-cutting structures introducing sulphide and gold mineralisation to the proximal area. It is possible that this mineralisation was remobilised from earlier, primary sources. These zones can now be identified by their gossanous appearance. The nature or orientation of these controlling structures is not yet understood, but they are likely to be small (J. Hughes, pers. comm., 2017). Of the various styles of mineralisation found at Nuuluk, SRK ES considers that the altered schists may have the best potential to hold the tonnage required to represent an economic project. The main areas of interest are structurally controlled gold- and sulphide-bearing alteration zones within the carbonate schists, if it can be confirmed that they show significant continuity. Within the WCZ, exploration targeting can be further refined to BIF horizons and related stratabound gold. It is possible that some remobilisation and re-deposition due to orogenic hydrothermal processes has occurred which may have resulted in excessive dispersal and dilution of gold. No exploration has been undertaken by Nalunaq A/S on the Iterlak Prospect, and previous exploration has been limited to reconnaissance work with the exception of a short drilling programme. Gold related to sulphide-bearing BIF horizons may be particularly important at Iterlak. 24.2 Conclusions Gold mineralisation at the Tartoq Project occurs in the Archaean greenstone belts in orogenic quartz-gold veins and as earlier stratabound occurrences in banded iron formations that have been altered to form massive sulphide bodies. Historic exploration has generally consisted of reconnaissance work, with only specific targets at Nuuluk and Iterlak having been targeted with short drilling programmes and academic studies. Work to date has not proved conclusively how gold mineralisation is distributed within the various lithologies at Nuuluk, both in terms of distribution and grade. Quartz veins provide samples with tens of g/t gold, but in SRK ES’ opinion they are too thin, deformed, discontinuous and insufficient in number to hold reasonable potential for economic mining on their. Larger zones of mineralisation in the form of gold-bearing altered schists, zones of veining, large massive sulphide bodies or zones of massive sulphides are required to provide sufficient tonnage and grade continuity. The majority of recent surface samples containing significant amounts of sulphides, including those from schists, have returned grades above 2 g/t gold. The distribution of gold in carbonate-altered greenschist that have not been subject to sulphide alteration and quartz veining is not yet sufficiently understood. Therefore spatial limits of prospective lithologies within the Nuuluk Linear Belt cannot yet be applied, both in terms of thickness and strike length. At present, the Nuuluk sample database is too small and spatially restricted to allow interpretation of gold grade across the whole carbonate-altered package. There are indeed some high-grade results, but these are generally from grab samples and may not be representative of the overall mineralised package. The reliance on historic channel sampling

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results is limited due to missing data for channel orientation, sample lengths and sampling procedures. If further sampling shows that gold is present in sulphide-bearing carbonate-altered schist, as well as in quartz veins, and that the continuity of grade can be demonstrated along strike and across horizons in the ECZ and WCZ, then, in SRK ES’ opinion, there is the potential of defining zones of economic gold mineralisation at Nuuluk. There is currently insufficient data available at present to conclude on the potential of the Iterlak Prospect. It is possible that further exploration will find that gold mineralisation is restricted to zones of limited extent, albeit with high grades, which do not form a sufficiently coherent exploration target. SRK ES considers this to be the main risk to the project. In summary the Tartoq licence contains gold mineralisation that is worthy of further work which should be systematically designed to fill in the gaps in previous exploration and establish whether the site holds the potential to host an economic resource.

25 RECOMMENDATIONS 25.1 Introduction The exploration priority for the Tartoq Project should focus on assessing grade continuity across known mineralised zones, principally the ECZ and WCZ at Nuuluk, followed by extension into areas of lesser historic sampling and mapping to the south. A secondary line of work should be the reconnaissance of Iterlak, attempting to prove whether mineralisation is analogous to the Nuuluk prospects and similarly qualify the gold distribution across the various lithologies. SRK ES is unaware of any significant factors and risks that may affect access, title, or the right or ability to perform the exploration work recommended for the Tartoq project. 25.2 Remote Sensing It is recommended that multispectral satellite data is used to assist in mapping lithology, structure and alteration across all prospects ahead of commencing fieldwork in the summer field season. ASTER data has a 30 m spatial resolution and a proven track record for the identification of many alteration mineral assemblages, whereas the 20 m resolution Sentinel-2 data has a lesser spectral range, but can still be used to identify iron-rich minerals that may be related to gossans and sulphides. The low vegetation density and limited sedimentary cover lends this project area to such remote sensing analysis that will help to focus fieldwork during the short field season. 25.3 Nuuluk The principal activity recommended at Nuuluk is a systematic channel sampling programme to determine how gold is distributed across the full width of the carbonate alteration zones (ECZ and WCZ). This should aim to complete a number of long continuous channels that will sample greenstones on both footwall and hanging wall sides of the ECZ and all lithologies across the zone. Sample intervals should honour lithological contacts and discontinuities of mineralisation within the channel. Detailed lithological, alteration and mineralisation logs should be completed for the channels and for each sample collected. A total of 900 m of channel sampling has been proposed, comprising eight across-strike profiles across the ECZ, taking an estimated 5-6 weeks using three diamond blade circular cutting saws. Detailed (e.g. 1:2,000 or finer) geological mapping of the southern part of the Nuuluk Belt, not previously mapped by NunaOil (Petersen, 1992), should be completed with a focus again on identification and description of alteration, sulphide mineralisation and quartz veining.

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Should the results of this phase of work show potentially economic gold grades distributed over an extended area of the belt and showing continuity along- and across-strike, and not confined to quartz veins, then diamond drilling may be warranted in future field seasons. 25.4 Iterlak Verification of historic sampling results is needed at Iterlak. Systematic grab sampling of all lithologies, alteration assemblages and zones of quartz veining and sulphide mineralisation should be completed in a number of parallel traverses across geological strike of historic gold anomalies. The NunaOil drilling in the 1990s produced some promising gold results associated with anomalous arsenic grades in massive pyritic and quartz-veined sericite schist in the Western Valley Sulphide Showing (“WVSS”). For this reason, it is also recommended that a number of long channel sampling profiles are conducted across the sulphide-bearing WVSS package. The aim would be the same as at Nuuluk: to determine how gold is distributed through the package and how it relates to quartz veining, carbonate alteration and sulphides. 25.5 Mineralogical and Petrological Studies A collection of samples that represent the various lithologies and mineralisation styles in the project areas should be taken and submitted for mineralogical and petrological analysis. Whilst sufficient work may have already been done on the quartz-gold veins, further understanding is required on the nature of gold mineralisation in the sulphide bodies and altered schists. 25.6 Exploration Budget A preliminary budget for the exploration programme described above is provided in Table 25-1. This has been prepared by SRK ES and includes a number of assumptions regarding logistical requirements and costs that have been based on SRK ES’ experience in the area and logistical costs for previous programmes provided by Nalunaq A/S. It should be used only for guidance of likely costs and a more refined budget will be required at a later date.

Table 25-1: Estimated Cost for the Exploration Programme Proposed for the Tartoq Project

Description Total Cost (US$)

Remote sensing study 15,000 Field staff 72,500 Logistics 57,000 Equipment and subsistence 14,000 Sample preparation and analysis 26,000

Sub-Total 184,500 Contingency (10%) 18,500 Total 203,000

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26 REFERENCES Appel, P. W. U., and Secher, K., 1984, On a gold mineralization in the Precambrian Tartoq Group, SW Greenland, J. Geol. Soc. London, Vol 141, p. 273-278

Ash, C. and Alldrick, D., 1996, Au-quartz Veins, in; Selected British Columbia Mineral Deposit Profiles, Volume 2 - Metallic Deposits, Lefebure, D.V. and Hõy, T., Editors, British Columbia Ministry of Employment and Investment, Open File 1996-13, p. 53-56.

Barnes, G. B., & Associates., 2007, Tartoq Deposit Exploration Licence 2006/09 Nordic Mining Ltd, Unpublished internal report, Nordic Mining.

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DeWitt, E., Heran, W. D., and Kleinkopf, M. D., 1995, Stratabound Au in Iron-Formations, Chapter 35, in; Preliminary compilation of descriptive geoenvironmental mineral deposit models, 1995, Open-File Report 95-831, USGS, p. 268-272.

Dubé, B., and Gosselin, P., 2007, Greenstone-hosted quartz-carbonate vein deposits, in Goodfellow, W.D., ed., Mineral Deposits of Canada: A Synthesis of Major Deposit-Types, District Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p. 49- 73.

Garde, A. A., Hamilton, M. A., Chadwick, B., Grocott, J., and McCaffrey, K. J. W., 2002, The Ketilidian orogeny of South Greenland: geochronology, tectonics, magmatism, and fore-arc accretion during Palaeoproterozoic oblique convergence, Canadian journal of Earth Sciences, vol. 39, P. 765-793

Geisler. R.A., 1972, Investigations on the Renzy Mines Limited Freherikshaab Concession, Greenland, To June 15, 1972, Unpublished internal report, Renzy Mines

Goldfarb, R. J., Berger, B. R., Klein, T. L., Pickthorn, W. J. and Klein, D. P., 1995, Low Sulphide Au Quartz Veins, Chapter 34, in; Preliminary compilation of descriptive geoenvironmental mineral deposit models, 1995, Open-File Report 95-831, USGS, p. 261-267.

Gowen, J. P., 1993, Kujata 1992 Re-analysis of Nuuluk Drill Core, Taartoq Greenstone Belt, Sermiligaarsuk, SW Greenland, May 1992, Unpublished internal report, NunaOil

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King, A.R., 1983, Report on Sampling and Prospecting in the Sermiligarssuk Fjord Area, South- West Greenland, Unpublished internal report, Greenex

Kisters, A. F. M., Szilas, K., and van Hinsberg, V. J., 2011, Structural geology and emplacement of the Tartoq Group, SW Greenland, in; Controls of hydrothermal quartz vein mineralization and wall rock alteration in the Paamuit and Tartoq areas, South-West Greenland / Kolb, J. (Ed.), Seiten/Artikel-Nr: 148-158

Kisters, A. F. M., van Hisnberg, V. J., and Szilas, K., 2012, Geology of an Archaean complex – The structural record of burial and return flow in the Tartoq Group of South West Greenland,

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Kolb, J., 2011, Gold Occu