TECHNICAL REPORT ON THE FALAN PROPERTY Falan Municipality Tolima Department (Colombia) -Prepared for- Baroyeca Gold & Silver Inc. 2001-1177 West Hastings Street Vancouver, British Columbia, V6E 2K3 -Prepared by- T.N.J. Hughes, P. Geo. Antediluvial Consulting Inc. Vancouver, British Columbia, Canada Raul Sanabria, P. Geo., EurGeol Golden Hammer Exploration Ltd. Burnaby, British Columbia, Canada 8th August, 2020 Updated 3rd February, 2021 February, 2021 - Technical Report FALAN Property, Colombia SUMMARY REPORT ON THE FALAN PROPERTY Table of Contents 1. EXECUTIVE SUMMARY ........................................................................................................ 1 2. INTRODUCTION & TERMS OF REFERENCE ..................................................................... 1 3. RELIANCE ON OTHER EXPERTS ........................................................................................ 4 4. PROPERTY DESCRIPTION AND LOCATION ..................................................................... 5 4.1 HFL-151 Title ................................................................................................................................. 9 4.2 Legal Framework ..................................................................................................................... 12 4.3 Environmental Liabilities ......................................................................................................... 18 4.4 Surface rights............................................................................................................................ 21 4.5 HFL-151 Property Agreement .................................................................................................. 22 4.7 Surface Rights HFL-151 ................................................................................................................. 26 5. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ....................................................................................................................... 27 6. HISTORY ............................................................................................................................... 28 6.1 Relevance & Reliability of Historical Estimates & Recent Estimates Available to the Issuer. ......... 30 6.2 Property Production ....................................................................................................................... 30 7. GEOLOGICAL SETTING ..................................................................................................... 31 7.2 PROPERTY GEOLOGY ............................................................................................................... 58 Structural setting and controls on mineralisation ................................................................................. 66 Stratigraphic control on mineralization ................................................................................................ 70 Hydrothermal alteration ....................................................................................................................... 70 8. DEPOSIT TYPES ................................................................................................................... 75 9. EXPLORATION - TITLE HFL-151 ....................................................................................... 77 Exploration and Prospecting Results .................................................................................................... 77 10. DRILLING ............................................................................................................................ 86 11. SAMPLE PREPARATION, ANALYSES & SECURITY ..................................................... 86 12. DATA VERIFICATION ....................................................................................................... 86 13. MINERAL PROCESSING & METALLURGICAL TESTING ............................................ 87 14. MINERAL RESOURCE ESTIMATES ................................................................................. 87 15. MARKET STUDIES & CONTRACTS ................................................................................. 87 16. ENVIRONMENTAL STUDIES, PERMITTING, & SOCIAL/ COMMUNITY IMPACT ... 87 17. ADJACENT PROPERTIES .................................................................................................. 88 18. OTHER RELEVANT INFORMATION ............................................................................... 89 19. INTERPRETATIONS & CONCLUSIONS ........................................................................... 90 1 December 2020 - Technical Report Falan Property, Colombia 20. RECOMMENDATIONS ....................................................................................................... 91 21. REFERENCES ...................................................................................................................... 93 22. DATE AND SIGNATURE PAGE ......................................................................................... 98 CERTIFICATE OF QUALIFIED PERSON ............................................................................... 99 Table of Figures Figure 1 Property Location ...................................................................................................................... 5 Figure 2 Property Location Map with municipalities .............................................................................. 6 Figure 3 Property Location wrt municipalities ........................................................................................ 7 Figure 4 Property location, northern Tolima Province ............................................................................. 8 Figure 5 Mining Title Information ........................................................................................................... 9 Figure 6 Mining Title information II ................................................................................................. 1010 Figure 7 HFL-151 title outline map (UTM Coordinates). ................................................................. 1111 Figure 8 Title HFL-151 outline, areas A & B .................................................................................... 2323 Figure 9 Resolution ……………………………………………………………………………………24 Figure 10 Reporte de Anotaciones …………………………………………………….........................25 Figure 11 Falan Project Title area .......................................................................................................... 30 Figure 12 Historic Location Map of historic mines within the Mariquita-Falan-Frias and Libano areas. ......................................................................................................................................................... 29 Figure 13 Geodynamics of NW South America ................................................................................ 3131 Figure 14 Tectonic Realms, from Cediel et al., 2003 ........................................................................ 3434 Figure 15 Northern Andean Geology and Property Location, from Kennan & Pindell, 2009 .......... 3535 Figure 16 North Andes Geology ........................................................................................................ 3737 Figure 17 Regional geology of the Central Cordillera, showing the main lithostratigraphic domains. ..................................................................................................................................................... 3838 Figure 18 Generalised transect across Colombia, from Cediel et al., (2003). ....................................... 39 Figure 19 Tahamí terrane ................................................................................................................... 4141 Figure 20 Colombian terranes, from Restrepo, 2008, 2011. .............................................................. 4242 Figure 21 Extent of the Chibcha terrane - Cuadros et al., 2014 ......................................................... 4343 Figure 22 Geological terranes ............................................................................................................ 4444 Figure 23 Kinematic Reconstruction ................................................................................................. 4747 Figure 24 Main Faults in Colombia. ....................................................................................................... 49 Figure 25 Simplified geology of the Central Cordillera. ................................................................... 5151 Figure 26 Colombian Triassic-Jurassic magmatism ........................................................................... 5252 Figure 27 Jurassic arc extent, Colombia ............................................................................................ 5353 Figure 28 Regional Lineaments with DEM ....................................................................................... 5454 Figure 29 Regional Lineaments II ..................................................................................................... 5555 Figure 30 Modified Interp. of Fig. 29 ................................................................................................ 5656 Figure 31 Rose diagrams for regional faults ...................................................................................... 5757 Figure 32 Regional stress orientations ..............................................................................................