South Korean Operation Update

14 September 2020

South Korean Drilling Operations Update

• Weolyu Project: Regulatory approvals received for diamond drill program, access track constructed and drilling has commenced

• Aphae Project: Assays received for final hole APDD002 with peak intersection of 0.94m @ 5.07g/t gold and 26g/t silver

• Dokcheon Project: Regulatory approvals for diamond drilling received

• Janghwal Project: Tenure applications lodged near Eunsan gold-silver mine

Weolyu Drilling

Regulatory approvals have been received for the deep drill program at Weolyu. Construction of a suitable access track for a small track rig is complete and drilling has commenced.

The drill plan involves 5 holes for a designed 1,610m program to test a 150m strike section (50m hole spacing) of the Surprise/Moonlight Vein trend and the projected Mystery Vein in its footwall. Four holes are targeting around the 200mRL level, 110m vertically below the lowest level of sampled and accessible historical workings on the Surprise/Moonlight vein trend. One additional hole is targeting a further 100m lower in elevation (100mRL) below the projected high-grade shoot observed in the historical UG workings.

The drill pad location will enable a series of fanned holes to test the Surprise-Moonlight and Mystery vein systems with a series of pierce points in each from approximately 100m to 200m vertically below surface.

The aims of the program are to:

1) determine whether the grade increases with depth, as expected based on the high-level epithermal textures observed on surface and

2) define the scale potential (strike length and elevation) of the known shoots in the underground workings, to establish an exploration target framework.

To read the complete announcement with the maps please download the pdf below:

South Korean Operation Update