InnovExplo Inc. WSP Canada Inc. Consultants–Mines–Exploration 1075, 3e Avenue 560, 3e Avenue, Val-d’Or (Québec) J9P 1S4 Val-d’Or (Québec) J9P 0J7 Telephone: 819.874-0447 Telephone: 819-8254711 Facsimile: 819.874-0379 Facsmile 819-825-4715 Toll-free: 866.749-8140 Web Site: www.wspgroup.com Email: [email protected] Web site: www.innovexplo.com Lamont Inc. 10, chemin des Conifères Lac-Beauport (Québec) G3B 2E7 Telephone: 418-928-9028 Web Site: www.lamont-expertconseil.com TECHNICAL REPORT AND PRELIMINARY ECONOMIC ASSESSMENT FOR THE O’BRIEN PROJECT, ABITIBI, QUÉBEC (according to National Instrument 43-101 and Form 43-101F1) Project Location Latitude: 48º 14’ 07’’ North; Longitude: 78º 22’ 54’’ West Cadillac Township Province of Québec, Canada Prepared for Radisson Mining Resources Inc. C.P. 307 Rouyn-Noranda, Québec Canada J9X 5C3 Prepared by: Sylvie Poirier, Eng. Annie Lavoie, Eng. Ann Lamontagne, Eng., Ph.D. Pierre-Luc Richard, M.Sc., P.Geo. Éric Poirier, Eng. Bruno Turcotte, P.Geo. Marie-Claude Dion St-Pierre, Eng. M.A.Sc. Laurent Roy, Eng. InnovExplo Inc. WSP Canada Inc. Lamont Inc. Effective Date: November 29, 2015 Signature Date: January 29, 2016 www.innovexplo.com TABLE OF CONTENTS SIGNATURE PAGE – INNOVEXPLO ........................................................................................................ 10 SIGNATURE PAGE – INNOVEXPLO ........................................................................................................ 11 SIGNATURE PAGE – WSP CANADA INC. ............................................................................................... 12 SIGNATURE PAGE – WSP CANADA INC. ............................................................................................... 13 SIGNATURE PAGE – WSP CANADA INC. ............................................................................................... 14 SIGNATURE PAGE – LAMONT INC. ........................................................................................................ 15 CERTIFICATE OF AUTHOR – SYLVIE POIRIER...................................................................................... 16 CERTIFICATE OF AUTHOR – PIERRE-LUC RICHARD .......................................................................... 17 CERTIFICATE OF AUTHOR – BRUNO TURCOTTE ................................................................................ 18 CERTIFICATE OF AUTHOR – LAURENT ROY ........................................................................................ 19 CERTIFICATE OF AUTHOR – ANNIE LAVOIE......................................................................................... 20 CERTIFICATE OF AUTHOR – ÉRIC POIRIER .......................................................................................... 21 CERTIFICATE OF AUTHOR – MARIE-CLAUDE DION ST-PIERRE ........................................................ 22 CERTIFICATE OF AUTHOR – ANN LAMONTAGNE ............................................................................... 23 1. SUMMARY .......................................................................................................................................... 24 Introduction ................................................................................................................................ 24 Property Description and Location ......................................................................................... 24 Geological Setting and Mineralization .................................................................................... 25 Data Verification ........................................................................................................................ 25 Mineral Resource Estimates..................................................................................................... 25 Metallurgy and Milling ............................................................................................................... 28 Environment ............................................................................................................................... 29 Mining Plan................................................................................................................................. 30 Capital and operating cost ....................................................................................................... 31 Financial analysis ...................................................................................................................... 33 Risks and Opportunities ........................................................................................................... 35 Recommendations .................................................................................................................... 37 2. INTRODUCTION ................................................................................................................................. 41 Principal sources of information ............................................................................................. 41 Qualified persons and inspection of the Project.................................................................... 42 Note regarding the 2015 Preliminary Economic Assessment .............................................. 43 Units and Currencies ................................................................................................................ 44 3. RELIANCE ON OTHER EXPERTS .................................................................................................... 45 4. PROPERTY DESCRIPTIONS AND LOCATIONS .............................................................................. 46 Location ...................................................................................................................................... 46 Mining Rights in the Province of Québec ............................................................................... 47 Current Property Description ................................................................................................... 47 Historical Property Description................................................................................................ 47 Urban Perimeter ......................................................................................................................... 50 Territory Akin to an Area for Vacationing ............................................................................... 50 Permits ........................................................................................................................................ 50 Environmental Liabilities .......................................................................................................... 51 Comments on Item 4 ................................................................................................................. 51 43-101 Technical Report – O’Brien Project 2 www.innovexplo.com 5. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND PHYSIOGRAPHY ........................................................................................................................................ 52 Accessibility ............................................................................................................................... 52 Climate ........................................................................................................................................ 54 Local Resources and Infrastructure ........................................................................................ 54 Physiography ............................................................................................................................. 54 6. HISTORY ............................................................................................................................................. 56 O’Brien Property ........................................................................................................................ 56 O’Brien Gold Mines Ltd ....................................................................................................... 56 Darius Gold Mines Inc. ........................................................................................................ 60 Sulpetro Minerals / Novamin Resources / Breakwater Resources ..................................... 62 Radisson Mining Resources ................................................................................................ 63 Kewagama Property .................................................................................................................. 69 Kewagama Gold Mines Ltd ................................................................................................. 69 Sulpetro Minerals / Novamin Resources / Breakwater Resources ..................................... 71 Radisson Mining Resources ................................................................................................ 71 7. GEOLOGICAL SETTING AND MINERALIZATION ........................................................................... 74 Abitibi Terrane (Abitibi Subprovince) ...................................................................................... 74 Cadillac Area .............................................................................................................................. 76 Property Geology ...................................................................................................................... 79 Cadillac Group ....................................................................................................................