TECHNICAL REPORT ON THE SOUTH CARIBOO PROPERTY, BRITISH COLUMBIA, CANADA prepared for KORE Mining Ltd. and Karus Gold Corp. South Cariboo Property, British Columbia, Canada Effective Date: November 15, 2020 Report Date: December 16, 2020 Ron Voordouw, P.Geo. & Henry Awmack, P.Eng. Equity Exploration Consultants Ltd. This page intentionally left blank TABLE OF CONTENTS TABLE OF CONTENTS .......................................................................................................................................................... iii LIST OF TABLES..................................................................................................................................................................... v LIST OF FIGURES ................................................................................................................................................................... v 1.0 SUMMARY ............................................................................................................................................................... 6 1.1 Introduction ........................................................................................................................................................ 6 1.2 Property Description ........................................................................................................................................... 6 1.3 Location, Access and Ownership ......................................................................................................................... 7 1.4 History, Exploration and Drilling ......................................................................................................................... 7 1.5 Geology and Mineralization ................................................................................................................................ 8 1.6 Metallurgical Testing and Mineral Processing .................................................................................................... 9 1.7 Mineral Resource Estimate ................................................................................................................................. 9 1.8 Conclusions ......................................................................................................................................................... 9 1.9 Recommendations .............................................................................................................................................. 9 2.0 INTRODUCTION ..................................................................................................................................................... 10 2.1 Terms of Reference ........................................................................................................................................... 10 2.2 Units of Measure, Abbreviations and Acronyms .............................................................................................. 10 2.3 Qualified Persons .............................................................................................................................................. 10 2.4 Site Visits and Scope of Personal Inspection ..................................................................................................... 11 2.5 Effective Dates .................................................................................................................................................. 11 2.6 Information Sources and References ................................................................................................................ 11 2.7 Previous Technical Reports ............................................................................................................................... 12 3.0 RELIANCE ON OTHER EXPERTS .............................................................................................................................. 12 4.0 PROPERTY DESCRIPTION AND LOCATION ............................................................................................................. 12 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, PHYSIOGRAPHY ............................................. 19 5.1 Accessibility ....................................................................................................................................................... 19 5.2 Climate .............................................................................................................................................................. 19 5.3 Local Resources ................................................................................................................................................. 19 5.4 Infrastructure .................................................................................................................................................... 21 5.5 Physiography ..................................................................................................................................................... 21 6.0 HISTORY ................................................................................................................................................................. 22 6.1 FG Gold Area ..................................................................................................................................................... 22 6.2 Gold Creek Area ................................................................................................................................................ 24 6.3 Historical Mineral Resource Estimates ............................................................................................................. 26 6.4 Historical Production ......................................................................................................................................... 26 7.0 GEOLOGICAL SETTING AND MINERALIZATION ...................................................................................................... 26 7.1 Regional and Local Geology .............................................................................................................................. 26 7.2 Regional Metallogeny........................................................................................................................................ 28 iii 7.3 Property Geology .............................................................................................................................................. 30 7.4 Property Mineralization .................................................................................................................................... 33 8.0 DEPOSIT TYPES ...................................................................................................................................................... 37 8.1 Orogenic Gold Deposits ..................................................................................................................................... 37 8.2 Cu-Au Alkali Porphyry Deposits ......................................................................................................................... 38 9.0 EXPLORATION ........................................................................................................................................................ 39 9.1 2019 Surface Sampling ...................................................................................................................................... 39 9.2 2020 Surface Sampling ...................................................................................................................................... 39 10.0 DRILLING ................................................................................................................................................................ 40 10.1 2018 Nova Drilling ............................................................................................................................................. 40 10.2 2020 Frasergold Drilling .................................................................................................................................... 42 10.3 2020 Gold Creek Drilling.................................................................................................................................... 47 11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY ............................................................................................... 47 11.1 Sample Preparation and Security ...................................................................................................................... 47 11.2 Sample Analyses ................................................................................................................................................ 48 11.3 Quality Control Quality Assurance Program ..................................................................................................... 49 11.4 Analytical Adequacy .......................................................................................................................................... 51 12.0 DATA VERIFICATION .............................................................................................................................................. 52 12.1 Digital Data ........................................................................................................................................................ 52 12.2