PRELIMINARY ECONOMIC ASSESSMENT UPDATE NI 43-101 TECHNICAL REPORT SILICON RIDGE, QC, CANADA Prepared for ROGUE RESOURCES INC. by: Henri Sangam, PhD., P. Eng., SNC Lavalin Inc. Philip Vicker, P.Geo., Independent Consultant Kerrine Azougarh, P.Eng., SNC Lavalin Inc. Dominic Tremblay, P.Eng., SNC Lavalin Inc. Marc Arpin, P.Geo., SNC Lavalin Inc. Effective Date: May 23, 2017 Issue Date: July 7, 2017 DATE AND SIGNATURE PAGE – CERTIFICATES Effective Date: May 23, 2017 Issue Date: July 7, 2017 TABLE OF CONTENT 1.0 EXECUTIVE SUMMARY ......................................................................................................................................... 1 1.1 Introduction ...................................................................................................................................... 1 1.2 Property Description and Location ................................................................................................... 1 1.3 History .............................................................................................................................................. 1 1.4 Geological Setting and Mineralization .............................................................................................. 2 1.5 Deposit Types .................................................................................................................................. 2 1.6 Exploration ....................................................................................................................................... 2 1.7 Drilling .............................................................................................................................................. 3 1.8 Sample Preparation, Analysis and Security ..................................................................................... 3 1.9 Data Verification ............................................................................................................................... 3 1.10 Mineral Processing and Metallurgical Testing ................................................................................. 4 1.11 Mineral Resource Estimates Statement ........................................................................................... 5 1.12 Mineral Reserve Estimate ................................................................................................................ 8 1.13 Mining Methods ................................................................................................................................ 8 1.14 Recovery Methods ........................................................................................................................... 9 1.15 Infrastructure .................................................................................................................................... 9 1.16 Market Studies and Contracts .......................................................................................................... 9 1.16.1 Supply ................................................................................................................................ 10 1.16.2 Demand ............................................................................................................................. 10 1.16.3 Price .................................................................................................................................. 11 1.17 Environmental Studies, Permitting and Social or Community Impact ........................................... 11 1.18 Capital and Operating Costs .......................................................................................................... 13 1.18.1 Capital Costs ..................................................................................................................... 13 1.18.2 Operating Costs ................................................................................................................. 15 1.19 Economic Analysis ......................................................................................................................... 15 1.19.1 Economic Results .............................................................................................................. 15 1.19.2 Important Caution Regarding the Economic Analysis ....................................................... 16 1.20 Interpretation and Conclusions ...................................................................................................... 16 1.20.1 Geology ............................................................................................................................. 16 1.20.2 Mine Planning .................................................................................................................... 17 1.20.3 Capital and Operating Costs ............................................................................................. 17 1.20.4 Economic Analysis ............................................................................................................ 17 1.21 Recommendations ......................................................................................................................... 18 1.21.1 Geology ............................................................................................................................. 18 1.21.2 Mining, Marketing and Infrastructures ............................................................................... 19 2.0 INTRODUCTION ....................................................................................................................................................... 20 2.1 Terms of Reference - Scope of Study ............................................................................................ 20 2.2 Source of Information ..................................................................................................................... 20 2.3 Site Visit ......................................................................................................................................... 21 2.4 Contributing Authors and Qualified Persons .................................................................................. 21 3.0 RELIANCE ON OTHER EXPERTS .................................................................................................................... 23 3.1 Surface Rights and Access ............................................................................................................ 23 3.2 Geophysical GPR Survey .............................................................................................................. 23 3.3 Mine Geotechnical ......................................................................................................................... 23 3.4 Marketing ....................................................................................................................................... 23 4.0 PROPERTY DESCRIPTION AND LOCATION .............................................................................................. 24 4.1 Property Location ........................................................................................................................... 24 4.2 Property Description and Ownership ............................................................................................. 24 4.3 Mineral Tenure in Quebec ............................................................................................................. 27 4.4 Underlying Agreements and Royalties, Encumbrances ................................................................ 27 4.5 Environmental Liabilities ................................................................................................................ 28 4.6 Permits that must be acquired ....................................................................................................... 28 4.7 Other Significant Factors and Risks ............................................................................................... 29 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE & PHYSIOGRAPHY30 5.1 Accessibility .................................................................................................................................... 30 5.2 Topography, Elevation and Vegetation .......................................................................................... 30 5.3 Population, Transportation ............................................................................................................. 30 5.4 Climate ........................................................................................................................................... 30 5.5 Surface Rights, Power, Water, Personnel ..................................................................................... 31 6.0 HISTORY ..................................................................................................................................................................... 33 6.1 Ownership ...................................................................................................................................... 33 6.2 Mineral Exploration Work ............................................................................................................... 33 6.3 Resources, Production ................................................................................................................... 33 7.0 GEOLOGICAL SETTING AND MINERALIZATION ....................................................................................