EQS-News

North Peak's Upcoming Drill Program to Target Gold on Prospect Mountain North; Drilling Plans Close to Being Finalized and Weather Improving - Seite 2

• 0.15 oz/t over 25 ft including 0.29 oz/t over 5 ft plus another 0.29 oz/t over 5 ft (5.0 g/t Au over 7.6 m + 21.6 g/t Ag) starting at 570 ft;
• 0.05 oz/t over 55 ft including 0.13 oz/t over 5 ft plus 0.12 oz/t over 5 ft (1.6 g/t Au over 16.8 m + 75.7 g/t Ag) starting at 1175 ft; and
• 0.05 oz/t over 10 ft (1.6 g/t Au over 3.1 m + 140.0 g/t Ag) starting at 1310 ft.

NOTES: ounce per ton= oz/t ; grams per tonne=g/t; metres=m; using a 0.5 g/t Au minimum composite grade, and up to 25 feet internal dilution @ 0.01 g/t Au (1725 intersections are just anomalous zones identified for exploration); true thickness is unknown until orientations are proven; these drill hole results are pre-NI 43-101 and they do not meet the current standards of exploration quality assurance and quality control protocols-twinning of holes will be necessary. See the Technical Report (defined below) for full details of the historical drill results referenced above.

Prospect Mountain contains both patented and unpatented land claims and hosts some 15-20 former underground gold mines close to surface as well as around 11 miles of underground tunnels. The surface topography is such that the drill program's design will be configured to shorter holes, many of which should be able to be drilled inside of a shift. Discussions with permitting authorities are progressing and the Company is targeting receipt of the necessary approvals in Spring 2024, which should coincide with winter conditions at Prospect Mountain North giving way to warmer weather and more reliable and safe ground conditions, all of which are critical for the drill program to commence.

Figure 1: Map view showing Prospect Mountain North and eastern part of Property referenced in press release.

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Figure 2: North Area - Section view looking North.

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Figure 3: Section view showing historical Homestake Hole (1725). See the Technical Report (defined below) for full details of the historical drill results referenced in this Figure 3.