visible silver in the drill core from the Big Silver Vein (hole CS-20-39 with assays up to 89,853 g/t Ag (2,621 oz/ton) over a 0.3m within 60m

Castle East Project

Grassroots discovery

Massive native silver grades up to 89,853 g/t (2,621 oz/ton) intersected during surface drilling at the Castle East Robinson Zone less than 2 km east of the Castle Mine shafts.
The Company published the region’s first 43-101 resource estimate with a total of 7.56 million ounces of silver in inferred resources.

Resource Estimate

Most recently updated 43-101 from May, 2021.
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MILESTONES

Surface drilling
Completed 60,000m of surface exploration diamond drilling
Drill Results
8 new vein structures with grades up to 89,853 g/t silver and 2.24% cobalt
Environmental Study
Baseline study data collection completed
Ramp Permits
Permitting awaiting resource update and PFS
AI-based Drill targets
Engaged EarthLabs Inc. to assist our technical staff
Sample Tailings
Awaiting permits to access stamp mill tailings from Castle Mine

Meters Drilling

Structures

g/t Silver

% Cobalt
Graphical illustration of the planned ramp to access the high-grade silver discoveries

The Ramp

Full scope of the Discovery

The planned ramp will extend down to the 400m level to access the high-grade silver material for bulk samples and to carry out advanced exploration drilling from underground locations.
Currently, a resource update and PFS are underway to obtain permits needed to construct the ramp.
History shows that these richly mineralized shoots are never found in isolation. In this case, modern technology has opened a whole new domain of exploration.

Doug Robinson

P. Eng.
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Identified Silver

The Castle East high-grade discovery is just the beginning of what is possible at the Castle Property where there is 2 km of largely unexplored area between Castle East and the Castle Mine. While early prospectors walked the ground looking for veins visible at the surface, they didn't go deeper.
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History

The Castle East high-grade silver project is located in the Gowganda camp. In the 1900s, the Castle, Capitol and O’Brien mines were the most prolific in the area, accounting for about three-quarters of the total 80 million ounces silver mined.
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Geology

High-grade silver panels were discovered at the 400m level, just below the middle of the Nipissing diabase which dips down towards the East from the past-producing mines. More recently, a high-grade vein with more than 4,000 g/t silver over 0.5m was reported in drill core at the 50m level and this opens up potential for more discoveries at both shallow and deeper levels.
The latest drill results support our view that Castle East could progress into being a full-fledged mine, producing silver and other metal byproducts such as cobalt and nickel.

Matt Halliday

President, P. Geo.

Mineral Resource Estimate (Castle East)

Cut off grade of 258 AgEq g/t
Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate.
Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13, 2020.
Inferred Mineral ResourcesAg (g/t)Co (g/t)Cu (g/t)Ni (g/t)AgEq (g/t)TonnesAg (oz.)AgEq (oz.)
Zone 1A7,9609463497908,0428,1002,073,0002,094,000
Zone 1B8,8432,3083253368,99819,3005,487,2005,583,200
Zone 2A385,6732,1014531185,5006,80075,300
Total Inferred Mineral Resources7,1492,5376284677,32532,9007,567,0007,752,000
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Drill core

High-grade silver vein at Castle East initially discovered at a depth of 400m during diamond drilling from the surface. Additional discoveries in first of drill core for CS-19-08-W01 (50,583 g/t Ag over 0.6m at 427m vertical depth) and then CW19-08-W-02 (70,380 g/t Ag over 0.3m at 418m vertical depth)
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Drill core

Very high-grade drill core included in the initial resource grade estimate of 8,582 g/t Ag in 27,500 tonnes of material starting from vertical depth of approximately 400 meters. Several new high-grade veins have been discovered in the vicinity from an ongoing 60,000m drill program expected to be completed in Q2 2022.
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