Harpoon

Property Description

The Harpoon discovery is located 4.7 km northeast of Arrow along the PattersonCorridor. Mineralization extends over 340 m along strike.

The Harpoon Discovery is subject to a 2% net smelter return (“NSR”) royalty held byAdvanced Royalty Corp., of which 1% can be repurchased by the Company for $1million. In addition, a 10% production carried interest is held by Terra Ventures Inc.,which provides Terra Ventures with a 10% carried, non-participating, and non-assessable undivided interest until the commencement of commercial production.Following this, the carried interest will convert to a working interest, with theCompany having the right to recoup from 75% of Terra Ventures’ proportionate share of production, 10% of all costs incurred since June 30, 2005 for exploration and development, and in preparing for commercial production. As part of the working interest, Terra Ventures will have the right to receive 10% of production and will be responsible for its portion of all costs associated with ongoing operations.

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Geological Characteristics

The Harpoon discovery is defined by strong visible uranium and dense accumulations of massive to semi-massive pitchblende. The best intersections to date include:

HP-16-08 – 17.5 m at 3.89% U₃O₈ (219.5 to 237.0 m)
HP-16-20 – 13.5 m at 3.94% U₃O₈ (182.5 to 196.0 m)
- 2.5 m at 20.90% U₃O₈ (187.0 to 189.5 m)

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Feasibility Study (FS)

Summary of Completed Geophysical Surveys

Current Exploration

Disclaimer

Other

Rook I

PCE

Discovery Date

August 2016

Stage

Greenfield

Project Description

The Harpoon discovery is located 4.7 km northeast of Arrow along the Patterson Corridor. Mineralization extends over 340 m along strike. The Harpoon Discovery is subject to a 2% net smelter return (“NSR”) royalty held by Advanced Royalty Corp., of which 1% can be repurchased by the Company for $1 million. In addition, a 10% production carried interest is held by Terra Ventures Inc., which provides Terra Ventures with a 10% carried, non-participating, and non assessable undivided interest until the commencement of commercial production. Following this, the carried interest will convert to a working interest, with the Company having the right to recoup from 75% of Terra Ventures’ proportionate share of production, 10% of all costs incurred since June 30, 2005 for exploration and development, and in preparing for commercial production. As part of the working interest, Terra Ventures will have the right to receive 10% of production and will be responsible for its portion of all costs associated with ongoing operations.

Location