The Converse Gold Project is the largest undeveloped gold deposit not owned by a major mining company in Nevada -America's premier mining state. ‍

The project is located within the prolific Battle Mountain trend and counts with 5.57Moz of M+I gold resources and a further 0.42Moz of Inferred gold resources. 

Mineralization

• Au-Cu skarn deposit associated with the Redline stock. Mineralization occurs within the adjacent Havallah sedimentary rocks and is associated with variable prograde and retrograde metamorphic assemblages
• Disseminated Au-Cu mineralization associated with liberated gold, Fe oxides, chalcopyrite and pyrrhotite widespread over a 1,280m by 640m area.
• Surface oxidation of the system occurs to variable depths

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The resource

The current mineral resource estimate for the Converse Gold Project is based on open-pit constrained modeling using a gold price assumption of US$2,000 per ounce. The estimate incorporates updated modern pit optimization parameters consistent with Nevada development-stage projects. Cutoff grades and pit shells were defined using cost assumptions that reflect current mining, processing, and sustaining capital trends, ensuring the model is both realistic and economically defensible. This conservative framework provides a solid foundation for future economic studies, which will evaluate upside scenarios at higher gold prices in line with today’s bullish market environment

The Property hosts two gold-rich skarn deposits known as North Redline and South Redline with total contained resources of:

• M&I Resources of 5.57 moz at 0.53 g/t Au and
• Inferred Resources of 0.42 moz at 0.53 g/t Au

The oxide zone has a variable vertical depth profile ranging from 35 to >500 ft

Metallurgy and Process

Metallurgical testing at Converse has demonstrated strong potential for gold recovery through conventional processing methods suited to large-scale Nevada operations. Extensive testwork has confirmed that the mineralization responds well to both heap leach and milling scenarios, with recoveries improving as optimization and grind size are refined. Ongoing studies are focused on balancing metallurgical performance with capital efficiency to support a scalable development plan. This work underpins the strategy to advance Converse as a premier North American gold project with robust economics and proven processing pathways.

Metallurgical work indicates recoveries of 77% for oxide, 62% for transition and 52% for sulphide material via heap leach processing. 

• Column test durations ranged from 60 to 180 days, with longer leach cycles yielding higher recoveries.
• Agglomeration was found to be effective for coarse crushed material.
• Cyanide and lime consumption were within expected ranges for Nevada skarn-hosted systems.

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Additional Metallurgical Observations:

• Permeability: Material generally showed adequate percolation rates for heap leaching.
• Grind Sensitivity: Not required for oxide material; deeper sulfide zones may benefit from finer crushing in future mill scenarios.
• Potential for SART circuit to improve recoveries and leach cycles

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Exploration upside

Converse offers significant exploration upside across multiple fronts. The current resource captures only a portion of the mineralized system, leaving large areas of untested potential both laterally and at depth. Drilling to date has confirmed strong continuity within the main deposit, but step-out holes and geophysical data suggest additional feeder zones and high-grade structures remain open along trend. Notably, recent drilling intersected 153 meters of continuous gold mineralization at depth within the Antler Peak Limestone—the first confirmation of this reactive host rock on the property and a key indicator for skarn-style mineralization in Nevada. This opens the door to a potential high-grade skarn system beneath the main deposit, offering a new growth vector that could materially enhance the scale, grade profile, and overall economics of the project. Ongoing work will prioritize expanding the known resource envelope and testing these deeper targets to fully define Converse’s multi-layered discovery potential.

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Permitting

• Permits in place for 50 acres of surface disturbance for exploration
• No known environmental impediments to advancing permitting of an open pit mine

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Infrastructure

• Allowance for incoming transmission line and tie-in to the National Grid, on-site substation and emergency generators, as well as for water well field and pumping systems
• Sufficient water rights in place for future mining operations