Field Activity Update - Week of May 16

Drilling continued in the North Zone with two rigs, both deployed on the west slope.

Rig #1 located at the northern end of the old west slope road is in hole N019 and will continue drilling operation.

Rig #2, deployed at the southern end of the west slope road, concluded N018. Downhole surveys on N018 are currently being conducted by the team. The rig is being partially disassembled for transport to the next drill pad to drill N020. An approved collar an on old road south of N015 is the probable location of N020.

Across the river, drilling also continues on Brasiles, with Rig #3 continuing to drill B006 and currently stands at 420m. The team is already looking ahead to B007 and will begin road work and clearing of a pad over the next couple of days. Ahead of the rainy season the team has also been engaged in improving water run-off areas to direct water away from roadways and drill pads.

Marking existing fractures before being transported to the core warehouse

Machine H-5 Santo Tomas Project (Gyro-Gamma Measurement)

Machine H-7, Brasiles

Downloading Gyro measurement data (NO16)

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These historical resource estimate models are based upon historical resource estimates prepared by John Thornton in 2011. While, in the opinion of Dane A. Bridge, author of the revised NI 43-101 standard technical report, Geology, Mineralization and Exploration of the Santo Tomas Cu-(Mo-Au-Ag) Porphyry Deposit, Sinaloa, Mexico dated April 21, 2020 (the “Report”), reliable estimation practices were used, in order to upgrade or verify the historical estimations, resampling and assay of historical drill samples, twinning of historical drill holes, and a new program of regularly spaced drilling is required. No qualified person has undertaken sufficient work to classify the current mineral resources or mineral reserves upon which these models are based and the Company is not treating the estimates as current estimates of the mineral resources. The Company gives no assurance that either these models or the historical resource estimates upon which they are based are accurate, and does not undertake any obligation to update the models or to release publicly any update or revisions of the resource estimates except as required by applicable securities law. The reader is cautioned not to rely upon these models or the historical resource estimates upon which they are based.

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