Mineral Resource Estimate Update 2021

Indicated resource: 113.5M tonnes at 30.9% Magnetite

Inferred resource: 953.7 M tonnes at 32.8% Magnetite

Development Support and Offtake In Place

Glencore to provide Financing Assistance and 100% Production Offtake

Surrounded by Great Existing Public Infrastructure for Access to Global Markets

Situated along well maintained logging roads less than 25 km to under capacity rail with 200km to closest deep water port, Mont Sorcier has the infrastructure in place to access global markets

Management Experienced in Mine Development

Management experienced in developing mining projects. Currently working to advance metallurgy and engage in Preliminary Economic Assessment of Mont Sorcier to recognize the project’s value.
Located in Top Tier mining jurisdiction, Chibougamau, Quebec, the Mont Sorcier project hosts a large maiden high grade iron resource with excellent infrastructure, including rail, airports, seaports, and low cost hydro.

Advancing the Mont Sorcier Iron Ore and Vanadium project

Near rail infrastructure with actionable plan to ship to seaborne markets
High quality Iron ore concentrate (low TiO2) with significant Vanadium credits
PEA expected in Q1 2020 for potential conventional open pit mine production ~5M tpy

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