Parbec Gold Deposit

The Parbec Gold Deposit, 100% owned by Renforth, subject to a 3% GMR, contains a gold resource calculated in 2020, designed with an open pit (as Parbec’s mineralization starts at surface) based upon ~28,000 meters of drilling (in green) which occurred between 2007 and 2019, all of which Renforth has the witness core for in our core library.  The 2020 MRE is now considered by Renforth to not be up to date. Subsequent to the calculation of the MRE Renforth has drilled 15,000m of new holes in 2020 and 2021 (in red), which have not been included in the 2020 MRE but which did extend the mineralization within the MRE further down dip (deeper) and on an infill basis within the resource model (positive results – the presence of gold – obtained from holes drilled in gaps within the model with no prior drilling). In addition to this the 20/21 drilling is considered to have validated an additional 13,000m of historic drilling (the 1986-93 and in blue) which Renforth does not have the witness core for so it was excluded from the 2020 MRE. The validation of the historic results occurs as 10% of the historic holes were redrilled, with results comparable to the historic hole in terms of geology and gold values in the new holes compared to the old.  Any future MRE calculated at Parbec will benefit from the inclusion of the new and historic drilling.