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Private Placement Extended

the Company has received TSX Venture Exchange approval to extend the closing of the remaining $171,500 of a $537,500 non-brokered flow-through and non flow-through private placement announced on November 4, 2020 (the “Financing”) to January 21, 2021. A $366,000 first tranche of the Financing was closed on December 8, 2020.

AGM Update

…shareholder’s passed all resolutions put before the Company’s Annual General Meeting held November 27th, 2020, in Vancouver, including the election of new director Antonio Vespa, the Company’s current VP of Operations.

Updated Private Placement

The announced 1,500,000 non flow through units at $0.15 per unit will now be priced at $0.125 per unit, consisting of one common share and one warrant to purchase one additional common share at a price of $0.175 for a period of one year.

Trading Reinstatement

The Company has now filed its Annual Audited Financial Statements for the year ended December 31, 2019 and its Interim Financial Statements for the Period ended March 31, 2020.

Corporate Update

Due to complications arising from the Covid19 pandemic, the Company was unable to file its Annual Financial Statements as required by June 15th, 2020. As a result, the British Columbia Securities Commission issued a Cease Trade Order on June 19th, 2020 (the “CTO”) and the Company’s shares are temporarily suspended from trading.

Update on Annual Filings

Canadian Securities Administrators (“CSA”) issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filingsé

Wheaton Creek Property

Wheaton Creek… drill hole (DDH 86-1) that cut 4.9 gpt gold over 3.05 metres. Additional drilling is warranted over a 1.5 kilometre zone prospective for both high grade and low grade bulk tonnage gold mineralization.

Weaver Lake

…the first hole of a two-hole, 236 metre drill program at the Company’s 100% owned Weaver Lake gold property in the New Westminster Mining Division in southern BC returned assays of 2 g/t gold and 13.71 g/t silver over 4.61 metres.