COAL RESOURCES FOR THE The Tent Mountain Mine ALBERTA AND BRITISH COLUMBIA, CANADA Competent Person’s Report Prepared for Montem Resources Alberta Operations Ltd. Alberta Coal Leases: 013 1306080819, 013 1306080820, 013 1306080821, 013 1306080822, 013 1305090663, 013 1305090664, 013 1305090665, 013 1305090666, 013 1305090667, 013 1305090668, 013 1305100739; BC Coal Lease CL389283; Plus Freehold Tenements Issue Date: April 7, 2020 Effective Date: February 20, 2020 Prepared By: DAHROUGE GEOLOGICAL CONSULTING LTD. SUITE 103, 10183 112 STREET, EDMONTON, ALBERTA T5K 1M1 T 780-434-9808 | F 780-439-9789 | WWW.DAHROUGE.COM Prepared and Signed By: Bradley Ulry, P.Geo., Dahrouge Geological Consulting Ltd. John Gorham, P.Geol., Dahrouge Geological Consulting Ltd. Matthew Carter, P.Geo., Dahrouge Geological Consulting Ltd. JORC Report Montem Resources TABLE OF CONTENTS 1 Executive Summary ......................................................................................................................................... 9 1.1 Project Description .............................................................................................................................. 9 1.2 Land Tenure ........................................................................................................................................... 9 1.3 Geology and Mineralization ............................................................................................................. 9 1.4 Exploration .......................................................................................................................................... 10 1.5 Development and Operations ...................................................................................................... 10 1.6 Mineral Resource Estimate ........................................................................................................... 10 1.7 Conclusions and Recommendations ......................................................................................... 12 2 Introduction .................................................................................................................................................... 15 3 Reliance on Other Experts ......................................................................................................................... 17 4 Property Description and Location ....................................................................................................... 19 4.1 Location ................................................................................................................................................ 19 4.2 Mineral Tenure .................................................................................................................................. 19 4.3 Tent Mountain Mineral Tenures ................................................................................................. 20 4.4 The Tent Mountain Mine Purchase Agreement .................................................................... 23 4.5 Permits, Approvals & Agreements ............................................................................................. 23 4.6 Coal Development Policy For Alberta ....................................................................................... 24 4.7 Indigenous Peoples Consultation ............................................................................................... 25 4.8 Environmental Liabilities .............................................................................................................. 27 4.9 Other Significant Factors and Risks .......................................................................................... 27 5 Accessibility, Climate, Local Resources, Infrastructure, and Physiography ......................... 28 5.1 Topography, Elevation, and Vegetation ................................................................................... 28 5.2 Infrastructure and Local Resources .......................................................................................... 28 5.3 Climate ................................................................................................................................................... 28 6 History ............................................................................................................................................................... 29 6.1 Historical Mine Grid and Coordinate Systems ...................................................................... 30 6.2 Topography ......................................................................................................................................... 30 6.3 Historical Drilling .............................................................................................................................. 30 Page 2 JORC Report Montem Resources 6.4 Historical Trenching and Adits ................................................................................................... 33 6.5 Underground Mining ....................................................................................................................... 33 6.6 Open Pit Mining ................................................................................................................................. 33 6.7 Historical Mineral Resources....................................................................................................... 35 6.7.1 2005 Norwest Corp. Resource Estimate ............................................................................ 35 6.7.2 2017 Geoff Jordan Associates Corp. Resource Estimate .............................................. 35 6.7.3 2018 Tamplin Resources Pty Ltd. Resource Estimate.................................................. 35 7 Geological Setting and Mineralization ................................................................................................. 37 7.1 Regional Geology .............................................................................................................................. 37 7.2 Structural Geology............................................................................................................................ 38 7.2.1 Regional Fault Structures ......................................................................................................... 38 7.2.2 Regional Fold Structures .......................................................................................................... 39 7.3 Property Geology .............................................................................................................................. 41 8 Exploration ...................................................................................................................................................... 45 8.1 Geological and Structural Mapping ........................................................................................... 45 8.2 Roadcut and Drone Measured Sections................................................................................... 47 8.3 Topography ......................................................................................................................................... 48 8.4 Aerial Drone Survey ........................................................................................................................ 48 8.5 Lake Bathymetry Survey ............................................................................................................... 49 9 Drilling ............................................................................................................................................................... 50 9.1 Air Rotary Drilling (“RAB”) ........................................................................................................... 53 9.2 Reverse Circulation Drilling ......................................................................................................... 53 9.3 6” Large Diameter Core Drilling (‘LDC’) .................................................................................. 54 9.4 HQ Diamond Drilling ....................................................................................................................... 56 9.4.1 2018 HQ Geotechnical and Geochemical Sampling Program .................................... 56 9.4.2 2019 HQ Geotechnical, Hydrogeological and Geochemical Program .................... 57 9.5 Collar Surveys .................................................................................................................................... 58 9.6 Downhole Surveys ........................................................................................................................... 58 9.6.1 Fracture and Bedding Orientation Measurements – Dipmeter ................................ 58 Page 3 JORC Report Montem Resources 9.6.2 Acoustic Televiewer (“ATV”) Surveys ................................................................................. 59 9.6.3 Optical Televiewer (“OTV”) Surveys .................................................................................... 59 9.6.4 Full Wave Sonic (“Sonic”) Survey .......................................................................................... 59 9.7 Monitoring Well Installation & Vibrating Wire Piezometer Installation ................... 59 9.8 Surficial Soil Geotechnical Drilling and Test Pitting Program ........................................ 59 9.8.1 Surficial Soil Geotechnical Test Pits ....................................................................................