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Si vous avez besoin de formats accessibles ou d’aide à la communication, veuillez nous contacter. 1 Assessment Report On the RABBIT LAKE PROJECT Askin Township, Sudbury Mining Division, Ontario, Canada Located Within: NTS Sheet 31L/13 Centered at Approximately: Latitude 46°56′55.9097″ North by Longitude 79°40′28.8343″ West Report Prepared For: Quantum Cobalt Corp. 800-1199 West Hastings St. Vancouver, BC, Canada V6E 3T5 Report Prepared by: Longford Exploration Services Ltd. 1 460-688 West Hastings St Vancouver, BC, Canada V1B 1P1 Sarah Ryan, GIT Trent Potts, GIT 460-688 West Hastings St 460-688 West Hastings St Vancouver, BC, V1B 1P1 Vancouver, BC, V1B 1P1 EFFECTIVE DATE: November 14, 2018 Rabbit Lake Project Assessment Report 2 0 1 8 - 14- 11 Table of Contents List of Tables ................................................................................................................................................ iii List of Figures ............................................................................................................................................... iv 1 Summary ............................................................................................................................................... 1 2 Introduction and Terms of Reference ................................................................................................... 2 2.1 Issuer ............................................................................................................................................. 2 2.2 Terms of Reference ....................................................................................................................... 2 2.3 Sources of Information ................................................................................................................. 2 2.4 Abbreviations and Units of Measurement .................................................................................... 3 3 Reliance on Other Experts .................................................................................................................... 5 4 Property Description and Location ....................................................................................................... 6 4.1 Location ......................................................................................................................................... 6 4.2 Mineral Titles ................................................................................................................................ 6 4.3 Property Legal Status .................................................................................................................... 4 4.4 Mining Claims in Ontario .............................................................................................................. 4 4.5 Permitting ..................................................................................................................................... 4 5 Accessibility, Infrastructure and Climate .............................................................................................. 5 5.1 Accessibility ................................................................................................................................... 5 5.2 Climate .......................................................................................................................................... 5 5.3 Local Resources ............................................................................................................................. 5 5.4 Infrastructure ................................................................................................................................ 5 5.5 Topography and Vegetation ......................................................................................................... 5 6 History ................................................................................................................................................... 1 6.1 Historic Exploration ....................................................................................................................... 1 7 Geological Setting and Mineralization .................................................................................................. 1 7.1 Regional geology ........................................................................................................................... 1 7.2 Regional Structure ........................................................................................................................ 1 7.3 Property Geology .......................................................................................................................... 1 7.3.1 Lithology ................................................................................................................................ 2 7.4 Mineralization ............................................................................................................................... 7 8 Deposit Types ........................................................................................................................................ 9 9 Exploration .......................................................................................................................................... 10 9.1 2017 Exploration Program .......................................................................................................... 10 9.1.1 Prospecting and Geological Mapping Program................................................................... 10 9.1.2 Geological Mapping ............................................................................................................ 11 9.1.3 Rock and Soil Sampling ....................................................................................................... 11 9.2 Statement of Costs ...................................................................................................................... 15 10 Sample Preparation, Analysis, and Security ........................................................................................ 16 10.1 2017 Sampling Procedure ........................................................................................................... 16 10.2 Sampling Preparation and Analysis ............................................................................................. 16 Longford Exploration Services Ltd. i Rabbit Lake Project Assessment Report 2 0 1 8 - 14- 11 11 Data Verification ................................................................................................................................. 19 12 Other Relevant Data and Information ................................................................................................ 20 13 Interpretation and Conclusions .......................................................................................................... 21 14 Recommendations .............................................................................................................................. 24 14.1 Proposed Exploration Budget ..................................................................................................... 24 15 References .......................................................................................................................................... 25 APPENDIX A: 2017 Rock Sample Descriptions ...................................................................................... 26 APPENDIX B: 2017 Soil Sample Descriptions ........................................................................................ 27 APPENDIX C: 2017 Statement of Costs ................................................................................................. 37 APPENDIX D: 2017 Assay Certificates ................................................................................................... 38 Longford Exploration Services Ltd. ii Rabbit Lake Project Assessment Report 2 0 1 8 - 14- 11 List of Tables Table 2.1 MNDM Assessment report files concerning the Rabbit Lake Property. ....................................... 2 Table 2.2 Abbreviations and Units of Measurement .................................................................................... 3 Table 4.1 Mineral tenure summary. ............................................................................................................. 1 Table 5.1 Driving distances to the Property.................................................................................................. 5 Table 6.1 Historic exploration program summary. ....................................................................................... 1 Table 9.1: Structural measurements taken during the 2017 geological mapping program over the Rabbit Lake property. ............................................................................................................................................. 11 Table 9.2 Rock sample coordinates and assay results. ............................................................................... 11 Table 9.3: Soil sample coordinates and assay results. ................................................................................ 12 Table 9.4: Oct 2017 prospecting and sampling program expenditures. ....................................................