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CDM Smith Technical Report

November 20, 2019

On July 1, 2019, the Company entered into an agreement with CDM Smith for the preparation of an updated Technical Report pertaining to the Garnet Properties. CDM Smith previously prepared a Technical Report in 2011 pertaining to the same mineral properties for a prior operator, using the then-current Canadian Securities Administrators NI 43-101 Standards of Disclosure For Mineral Projects as a guide, and the 2019 Technical Report, completed and delivered to the Company on November 11, 2019, constitutes an update of the prior Technical Report, amending the current resources, providing improved mine plan costs and describing future exploration recommendations. It has provided the Company with confirmation of the commercial validity of the Garnet project. CDM Smith is a global, privately-owned engineering and construction firm, founded in 1947. It is headquartered in Boston, Massachusetts and has 5,000 employees working from offices worldwide. It is well-respected and highly qualified to perform the services for which the Company contracted.