R E F I N I N G T H E A R T O F M I N E R A L E X P L O R A T I O N

EcruProject

Location Ecru Project in Cortez area

(~50 Moz Au), Battle Mtn –Eureka Trend

Adjacent to Barrick’s Robertson deposits

Along projection of Cortez Hills fault at intersection with Crescent Valley –Independence Lineament

Regional Bouguer gravity suggests major structural intersection

Carlin-type deposits align along gravity gradients

Gravity

World Class Carlin-type district ~50M oz Au endowment Projection of Cortez Fault aligns

with Ov/Tv contact N of Ecru CVIL forms range front to S of

Ecru Upper plate rocks beneath

shallow alluvial cover Lower plate targets

(after Creel et. al, 2004)

Geology

World Class Carlin-type district ~50M oz Au endowment Projection of Cortez Fault aligns

with Ov/Tv contact N of Ecru CVIL forms range front to S of

Ecru Upper plate rocks beneath

shallow alluvial cover Lower plate targets

(after Creel et. al, 2004)

Geology Detailed Gravity Survey

0 1000 2000 3000 4000 5000

meters

N

CBG 2.50 g/cc Residual Gravity

Project-scale Gravity high suggests uplifted lower plate carbonatesGravity

km

Gravity highs represent lower plate carbonates beneath exposed upper plate rocks and alluvium

Geology and Gravity

km

Gravity highs represent lower plate carbonates beneath exposed upper plate rocks and alluvium

Geology and Gravity

km

Gravity highs represent lower plate carbonates beneath exposed upper plate rocks and alluvium

Geology and Gravity

Leonardson Mapping

Leonardson (2010)

Geology

Geology

Leonardson (2010)

Leonardson (2010)

Projection of Cortez fault coincides with gravity break

High grade drill intercepts (as high as 1 oz Au/t) to W along same gravity high

Leonardson (2010) Pipeline bedrock geology map shows major thrust (Abyss thrust) well out into pediment

Geology and Gravity

Geology and Gravity

Projection of Cortez fault coincides with gravity break

High grade drill intercepts (as high as 1 oz Au/t) to W along same gravity high

Leonardson (2010) Pipeline bedrock geology map shows major thrust (Abyss thrust) well out into pediment

Is the gravity high to the north of Pipeline representative of the Abyss Thrust in the pediment?

Geology and Gravity

Projection of Cortez fault coincides with gravity break

High grade drill intercepts (as high as 1 oz Au/t) to W along same gravity high

Leonardson (2010) Pipeline bedrock geology map shows major thrust (Abyss thrust) well out into pediment

Is the gravity high to the north of Pipeline representative of the Abyss Thrust in the pediment?

Carbonate?

Cross section looking NNW based on projected geology and gravity data Gravity suggests 2000 - 3000 ft to major Carlin-type target However, if carbonate wedge thins to the east, depth to RMT may be less High grade intersected in at least 3 holes to W: USGS, Coral Gold, Barrick Gold

Not shown is: Barrick DH w/ 1 oz/t Au intercept in upper plate near contact w/ lower plate, exact location unknown

Geology

EL soil geochemistry shows elevated Au and pathfinders along projection of Cortez fault and haloing NE gravity dome

Geochemistry and Gravity

EL soil REE ratio shows strong truncation along projection of Cortez fault

Halo around NE gravity dome, suggesting buried intrusion? Or carbonate bank?

Geochemistry and Gravity

EL soil Carlin-suite Z-scores highlight projection of Cortez fault

Geochemistry and Gravity

Deep - High quality classical Carlin-type target in Cortez Trend (50M+ oz Au)

Along projection of Cortez Hills Fault

Adjacent to Robertson deposit(2M oz Au)

High grade Au drilled immediately west of property

Lower plate target is similar depth as Goldrush deposit

ECRU

Gold Acres

Cortez

Goldrush

Buckhorn

Cortez Hills

Pipeline

Robertson

Intercepts up to 1 oz/t Au

Summary