Parbec

Wholly-Owned, Road Accessible NW Quebec Open Pit 43-101 Gold Deposit

Contiguous to Canadian Malartic, Canada’s Largest Gold Mine

9,644m Phase One Drill Program Complete

Phase 2 to commence in New Year, Phase 1 results pending

Completed Fall 2020 9644m Parbec Drill Program

Renforth completed the Fall 2020 Drill Program at Parbec. Initially this was planned as a 7000m program, however, through the efforts of our excellent team, our drill contractor, our geologists, our local field hands and all of the local contractors who support us in the field, we successfully drilled 9,644m in 27 drill holes at Parbec, largely infill holes with some down dip extension holes also completed.

Assays, as at December 16, have been received for 1,327m of the drilling completed, with the drill holes up to PAR-20-118 (the 19th) split and sent to the lab. The remaining core will be split in the New Year, prior to the resumption of drilling at Parbec. The target is to complete at least 15,000m of drilling at Parbec, including the Fall 2020 drilling, prior to updating our May 2020 Open Pit Constrained Resource Estimate for Parbec. Drilling in the New Year will include additional infill drilling, as well as twinning some of the ~50 1980’s drill holes, in order to include those assays in the resource estimate update. The May 2020 Resource Estimate only uses assay data from 2007 to the present, as that is the extent of the witness core in Renforth’s possession. It is hoped that with sufficient successful twinning the additional data can be included. It is also anticipated that the Winter 2021 program will include down dip extension holes as well.

The 3.5 drill holes which have reported assays for this program to date are anticipated to have a positive impact on the upcoming resource update, assay values above the average resource estimate grade were received, along with assays over significant widths, in areas where positive results were expected as well as in areas where the positive results were a surprise and add new data.

Parbec Gold - Open Pit Resource 3d

Parbec Gold Deposit May 2020 Resource Estimate

Parbec Constrained Open Pit (Blue) and Underground Mining Blocks (pink/green/red)

New Discovery at Parbec - Diorite Splay within Sediments Associated with Gold