The land package associated with the project is relatively unexplored, presenting a compelling opportunity given its proximity to the significant Camino Rojo mineralized system. The Camino Rojo system boasts measured and indicated gold resources of 9.5 million ounces, contained within 353 million tonnes of mineralization with an average grade of 0.83 g/t [1]. This close proximity enhances the project's potential for successful exploration and mineral discovery.

However, exploration efforts on the project face challenges due to a thin alluvial soil and caliche cover, which affect the detectability of geochemical surface indicators. Despite these challenges, the project holds excellent potential for the identification and discovery of mineralized deposits.

[1] The Camino Rojo Mineral Resource estimate, as of June 7, 2019, was prepared in accordance with the CIM Definition. Further details can be found in the "Camino Rojo Project Feasibility Study NI 43-101 Technical Report" available on this website or on SEDAR, dated January 11, 2021.