The Melgurd Property consists of 11 mineral claims totaling 7422 hectares located 50 km north northeast of the city of Flin Flon, MB and the adjacent town of Creighton, SK in east central Saskatchewan. Boreal gold acquired the large property in 2022 based on its location near known mineralization and favorable geology. The property is very under explored which is why a new Airborne EM Survey was flown to develop targets. The first discovery in the area was the Schotts Lake VMS ore deposit discovered in 1953 2 km south of the property. The latest resource estimate (a non-compliant NI 43-101 Historic Resource) by Aur Resources is 1,983,850 tonnes grading 0.61% Cu and 1.35% Zn. This should be considered an historical (non-NI-43101) resource estimate and does not comply with resource categories defined in ‘NI-43101 Standards For Disclosure for Mineral Projects’ and is provided for information only.  The author has not done sufficient work to classify the historical estimate as current mineral resource, and the issuer is not treating the historical estimate as a current mineral resource.  The author has not been able to verify the information on the Schotts Lake and Manson Bay properties and also caution that the information from these properties is not necessarily indicative of any mineralization on the Melgurd Lake Property (J. Pearson, Sept. 4, 2024, National Instrument 43-101 Melgurd Lake technical report).

To the south of the Melgurd property is the Manson Lake Gold deposit located on Manson Bay, Wildnest Lake. Mingold Resources in 1987 after a further 43 drill holes outlined the Cu-Au zone estimated that the zone that contained 660,000 tons grading 0.10 oz/to Au (this estimate is a non-NI 43-101 compliant Historic Resource). This resource estimate does not comply with resource categories defined in ‘NI-43101 Standards For Disclosure for Mineral Projects’ and is provided for information only.  The author has not done sufficient work to classify the historical estimate as current mineral resource, and the issuer is not treating the historical estimate as a current mineral resource.  Mineralization on the Manson Lake Gold deposit is not necessarily indicative of any mineralization on the Melgurd Lake Property (J. Pearson, Sept. 4, 2024, National Instrument 43-101 Melgurd Lake technical report).