M3-PN150019 Issue Date: 22 November 2017 Moss Gold-Silver Project NI 43-101 Technical Report Preliminary Economic Analysis Phase III, Mine Life Extension Mohave County, Arizona Prepared For: Qualified Persons: David Stone, P.E. Thomas L. Drielick, P.E. Daniel K. Roth, P.E. Robert G. Cuffney, CPG Michael Grass, P.E. Thomas L. Dyer, P.E. MOSS GOLD-SILVER PROJECT FORM 43-101F1 TECHNICAL REPORT DATE AND SIGNATURES PAGE The issue date of this report is November 22, 2017. See Appendix A for certificates of qualified persons. (Signed) “David Stone” November 22, 2017 David Stone, P.E. Date (Signed) “Thomas L. Drielick” November 22, 2017 Thomas L. Drielick, P.E. Date (Signed) “Daniel K. Roth” November 22, 2017 Daniel K. Roth, P.E. Date (Signed) “Robert G. Cuffney” November 22, 2017 Robert G. Cuffney, CPG Date (Signed) “Michael Grass” November 22, 2017 Michael Grass, P.E. Date (Signed) “Thomas L. Dyer” November 22, 2017 Thomas L. Dyer, P.E. Date M3-PN150019 22 November 2017 i MOSS GOLD-SILVER PROJECT FORM 43-101F1 TECHNICAL REPORT MOSS GOLD-SILVER PROJECT FORM 43-101F1 TECHNICAL REPORT TABLE OF CONTENTS SECTION PAGE DATE AND SIGNATURES PAGE ............................................................................................................................................. I TABLE OF CONTENTS ............................................................................................................................................................ II LIST OF FIGURES AND ILLUSTRATIONS ............................................................................................................................ IX LIST OF TABLES .................................................................................................................................................................... XII 1 EXECUTIVE SUMMARY ............................................................................................................................................ 1 1.1 ISSUER .......................................................................................................................................................... 1 1.2 MOSS MINE PROJECT .................................................................................................................................... 1 1.3 THIS TECHNICAL REPORT .............................................................................................................................. 1 1.4 GEOLOGY ...................................................................................................................................................... 2 1.5 2014 MINERAL RESOURCES .......................................................................................................................... 2 1.6 MINERAL RESERVES ..................................................................................................................................... 2 1.7 METALLURGY ................................................................................................................................................ 3 1.8 MINING .......................................................................................................................................................... 3 1.9 PROCESSING ................................................................................................................................................. 3 1.10 INFRASTRUCTURE AND SERVICES ................................................................................................................. 4 1.11 CAPITAL COSTS ............................................................................................................................................ 4 1.12 OPERATING COSTS ....................................................................................................................................... 4 1.13 FINANCIAL ANALYSIS .................................................................................................................................... 5 1.14 QUALIFIED PERSONS OPINION ....................................................................................................................... 5 2 INTRODUCTION ......................................................................................................................................................... 6 2.1 SOURCES OF INFORMATION ........................................................................................................................... 6 2.2 QUALIFIED PERSONS ..................................................................................................................................... 7 2.3 TERMS AND DEFINITIONS ............................................................................................................................... 8 3 RELIANCE ON OTHER EXPERTS ......................................................................................................................... 10 4 PROPERTY DESCRIPTION AND LOCATION ...................................................................................................... 11 4.1 PROPERTY DESCRIPTION AND LOCATION ................................................................................................... 11 4.2 PROPERTY LOCATION ................................................................................................................................. 12 4.3 MINERAL TENURE ........................................................................................................................................ 12 Patented Claims .............................................................................................................. 12 Unpatented Lode Claims ................................................................................................ 13 M3-PN150019 22 November 2017 ii MOSS GOLD-SILVER PROJECT FORM 43-101F1 TECHNICAL REPORT Claim and Permit Overlaps ............................................................................................ 21 4.4 TAXES, MAINTENANCE FEES, AND RENT ..................................................................................................... 22 Patented Lode Claims .................................................................................................... 22 Unpatented Lode Claims ................................................................................................ 22 Arizona State Exploration Permit ................................................................................. 22 4.5 PRINCIPAL AGREEMENTS ............................................................................................................................ 22 MinQuest Agreement ...................................................................................................... 22 2011 Patriot Gold Agreement ........................................................................................ 23 2016 Patriot Gold Sale Agreement................................................................................ 24 La Cuesta Agreement ..................................................................................................... 24 4.6 ROYALTIES .................................................................................................................................................. 25 MinQuest, Inc. .................................................................................................................. 25 Greenwood Agreement .................................................................................................. 26 Finders Agreement ......................................................................................................... 26 La Cuesta International, Inc. .......................................................................................... 27 Patriot Gold ...................................................................................................................... 27 Property Access Agreement ......................................................................................... 27 4.7 ENVIRONMENTAL LIABILITIES ...................................................................................................................... 28 Historical Liabilities ........................................................................................................ 28 Phase I Liabilities ............................................................................................................ 28 4.8 PERMIT HISTORY/BACKGROUND ................................................................................................................. 28 Phase I .............................................................................................................................. 28 Phase II ............................................................................................................................. 29 Jurisdictional Washes .................................................................................................... 29 Property Access .............................................................................................................. 29 Aquifer Protection Permits (APP) – AZ DEQ ............................................................... 30 Air Quality Permit – AZ DEQ .......................................................................................... 30 4.9 FACTORS AND RISKS (QUALIFIED PERSON’S OPINION) .............................................................................. 30 5 ACCESSIBILITY,