Major Precious Metals Completes Skaergaard Acquisition - Seite 2

For further information regarding the Acquisition, and the Skaergaard Project, readers are encouraged to review the Exchange Form 2A Listing Statement prepared by the Company in support of the Acquisition and fundamental change, a copy of which is available under the profile for the Company on SEDAR (www.sedar.com).

Early Warning Report

In connection with the Acquisition and following the release of the Consideration Shares from escrow, Platina has acquired ownership and control of 55,000,000 common shares of the Company representing approximately 31.1% of the issued and outstanding common shares of the Company. Prior to completion of the Acquisition, Platina did not hold any securities of the Company.

Platina has acquired the common shares of the Company for investment purposes, and in consideration for the Acquisition. Platina may, from time to time, acquire or dispose of additional securities of the Company in the market, privately or otherwise. A copy of the early earning report filed by Platina in connection with the Acquisition is available under the profile for the Company on SEDAR.

Skaergaard MRE Update and Palladium Outlook

RPA Inc. (“RPA”) continues to work on the Mineral Resource Estimate (MRE) for Skaergaard and will also be incorporating the results from a core resampling program, with MRE results expected by the end of this year. As previously disclosed by the Company, the Skaergaard Intrusion contains a significant deposit of gold and platinum group metals (PGMs) dominated by palladium, importantly, outside of the major PGM producing areas of South Africa and Russia. The Company and its consultants will be examining the impact of recent increases in palladium and gold prices on the key assumptions and parameters for the MRE.

Palladium, which reached a high of US$2,875.50 per ounce in February 2020 and recently up to US$2,500 per ounce, has been affected by significant supply shortages according to metal traders and analysts such as S&P Global (source: November 4, 2020 Consensus Price Forecast – S&P Global – Market Intelligence). Palladium is an important critical metal used in automobile catalytic converters (internal combustion engine or “ICE”) to reduce harmful emissions and is the key for countries to meet stricter global emissions standards on ICE vehicles. According to S&P Global, the consensus view is that the prospect of a slowdown in the European Union auto sales due to COVID-19 lockdown restrictions has weighed price forecasts for platinum, with a downgrade of 0.2% for 2020 and 2% average reductions for 2021-24. In contrast, consensus prices for palladium are bullish, reflecting a sharp rebound in Chinese ICE vehicle sales into 2021 and analyst forecasts playing catch up with the strong price rally seen in the second half of 2020. Palladium price forecasts have therefore been upgraded 1.8% for 2020 and 3%-9% for 2021-24 according to S&P Global.