TECHNICAL REPORT AND RESOURCE ESTIMATE ON THE GROETE GOLD COPPER DEPOSIT, GROETE PROPERTY, GUYANA, SOUTH AMERICA FOR GOLD PORT RESOURCES LTD. LATITUDE 6o 37’ 42” N, LONGITUDE 58o 43’ 07” W NI-43-101 & 43-101F1 TECHNICAL REPORT Eugene Puritch, P.Eng. Richard H. Sutcliffe, P.Geo. Wayne Ewert, P.Geo. Fred Brown, P.Geo. Tracy Armstrong, P.Geo. Alfred Hayden, P.Eng. Antoine Yassa, P.Geo. P&E Mining Consultants Inc., Report No. 261 Effective Date: January 24, 2013 Signing Date: March 6, 2013 TABLE OF CONTENTS 1.0 SUMMARY .........................................................................................................................1 1.1 MINERAL RESOURCE ESTIMATE .....................................................................1 1.2 CONCLUSIONS AND RECOMMENDATIONS ..................................................2 2.0 INTRODUCTION AND TERMS OF REFERENCE .........................................................3 2.1 TERMS OF REFERENCE ......................................................................................3 2.2 SOURCES OF INFORMATION ............................................................................3 2.3 UNITS AND CURRENCY .....................................................................................3 3.0 RELIANCE ON OTHER EXPERTS ..................................................................................5 4.0 PROPERTY DESCRIPTION AND LOCATION ...............................................................6 4.1 PROPERTY LOCATION ........................................................................................6 4.2 PROPERTY DESCRIPTION AND TENURE ........................................................7 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ...............................................................................................................9 5.1 ACCESS ..................................................................................................................9 5.2 CLIMATE ..............................................................................................................10 5.3 LOCAL RESOURCES ..........................................................................................10 5.4 INFRASTRUCTURE ............................................................................................10 5.5 PHYSIOGRAPHY .................................................................................................10 6.0 HISTORY ..........................................................................................................................11 6.1 HISTORICAL RESOURCE ESTIMATES ...........................................................13 7.0 GEOLOGICAL SETTING AND MINERALIZATION ...................................................15 7.1 REGIONAL GEOLOGY .......................................................................................15 7.2 LOCAL GEOLOGY ..............................................................................................16 7.3 DEPOSIT GEOLOGY ...........................................................................................17 7.4 MINERALIZATION .............................................................................................18 8.0 DEPOSIT TYPES ..............................................................................................................20 9.0 EXPLORATION................................................................................................................21 9.1 2008 - EXPLORATION PROGRAM ...................................................................21 9.2 2009 - EXPLORATION PROGRAM ...................................................................21 9.3 2010 - EXPLORATION PROGRAM ...................................................................21 9.4 2011–2012 - EXPLORATION PROGRAM .........................................................23 9.5 CURRENT ARTISANAL MINING AND PROSPECTING ACTIVITY ............24 10.0 DRILLING .........................................................................................................................25 10.1 RECONCILIATION OF HISTORICAL DRILL HOLE LOCATION DATA .....25 10.2 TWIN HOLE DRILLING PROGRAM .................................................................26 10.3 GOLD ASSAY VALUES .....................................................................................28 10.4 COPPER ASSAY VALUES..................................................................................29 10.5 INFILL DRILLING PROGRAM ..........................................................................30 10.6 2012 - GEOPROBE DEEP SOIL DRILLING PROGRAM..................................31 11.0 SAMPLE PREPARATION, ANALYSES AND SECURITY ..........................................33 11.1 SAMPLE PREPARATION AND SECURITY .....................................................33 11.2 LAB PROTOCOL FOR SAMPLE ANALYSIS ...................................................33 12.0 DATA VERIFICATION ...................................................................................................34 12.1 SITE VISIT AND INDEPENDENT SAMPLING ................................................34 12.2 QUALITY ASSURANCE/QUALITY CONTROL PROGRAM .........................35 12.2.1 Performance of Certified Reference Materials ..........................................36 12.2.2 Performance of Blank Material ..................................................................36 12.2.3 Performance of Field Duplicates ...............................................................36 13.0 METALLURGICAL PROCESSING AND METALLURGICAL TESTING ..................37 14.0 MINERAL RESOURCE ESTIMATES ............................................................................38 14.1 INTRODUCTION .................................................................................................38 14.2 PREVIOUS RESOURCE ESTIMATE .................................................................38 14.3 DATA SUPPLIED .................................................................................................38 14.4 DATABASE VALIDATION ................................................................................40 14.5 SPECIFIC GRAVITY ...........................................................................................40 14.6 DOMAIN MODELING .........................................................................................40 14.7 COMPOSITING ....................................................................................................41 14.8 COMPOSITE SUMMARY STATISTICS ............................................................41 14.9 TREATMENT OF EXTREME VALUES.............................................................42 14.10 CONTINUITY ANALYSIS ..................................................................................42 14.11 BLOCK MODEL ...................................................................................................42 14.12 ESTIMATION & CLASSIFICATION .................................................................43 14.13 MINERAL RESOURCE ESTIMATE ...................................................................43 14.14 MINERAL RESOURCE SENSITIVITY ..............................................................45 14.15 VALIDATION .......................................................................................................45 15.0 MINERAL RESERVE ESTIMATES................................................................................49 16.0 MINING METHODS ........................................................................................................50 17.0 RECOVERY METHODS ..................................................................................................51 18.0 PROJECT INFRASTRUCTURE ......................................................................................52 19.0 MARKET STUDIES AND CONTRACTS .......................................................................53 20.0 ENVIRONMENTAL STUDIES, PERMITTING AND SOCIAL OR COMMUNITY IMPACT ............................................................................................................................54 21.0 CAPITAL AND OPERATING COSTS ............................................................................55 22.0 ECONOMIC ANALYSIS .................................................................................................56 23.0 ADJACENT PROPERTIES ..............................................................................................57 24.0 OTHER RELEVANT DATA AND INFORMATION .....................................................58 25.0 INTERPRETATION AND CONCLUSIONS ...................................................................59 26.0 RECOMMENDATIONS ...................................................................................................60 26.1 RECOMMENDATIONS AND PROPOSED BUDGET.......................................60 27.0 REFERENCES ..................................................................................................................61 28.0 CERTIFICATES ................................................................................................................62 LIST OF TABLES Table 1.1 Summary of the Groete Deposit In-Pit Mineral Resources ..................................... 1 Table 1.2 Recommended Program and Budget ....................................................................... 2 Table 4.1 Mining Permit Boundaries ...................................................................................... 8 Table 6.1 Historical