Cherry Mountain Mine

Cherry Mountain Mine, located in White Pine County, Nevada, United States of America, covers 8.36 hectares of federal lands managed by the Bureau of Land Management (“BLM”), with the possibility of extension, if the Company sees fit, to an additional 100 hectares.

The concession covers a former gold and silver producing mine in the Granite Mining District. There are two adits on the property, multiple shafts, a 900-foot-long trench along the vein, dumps, and tailings. The adits are in competent rock and are accessible.

The project is south of Telegraph Peak and Telegraph Canyon, which was the site of one of Nevada's first mining booms, during the Civil War. Historical records from the Granite Mining District mention that graded ore from the gold veins was as high as 124 grams per ton of gold. The nearby Steptoe Mine had average grades of 21.77 grams per ton gold and 870 grams per ton silver.

Nevada is one of the top mining jurisdictions in the world for being mining friendly and continuing to produce important discoveries. If Nevada was a country, it would be the fifth largest gold producer in the world (after Australia, Canada, China, and Russia). In addition to gold, Nevada also has significant mines that produce silver, copper, lithium, iron ore, magnesium, gems, and many other materials.

White Pine County was the site of two spectacular historic mining booms: the Ruth-Ely boom and the Treasure Hill boom. The Robinson mine near Ely is one of the largest copper mines in the United States, having produced more than 4.5 billion pounds of copper. In 1865, Treasure Hill (up to 2,488 grams per ton of silver chloride ores) generated much interest in the surrounding areas. Treasure Hill caused one of the most famous mining rushes of the 19th century due to extremely high-grade silver chloride ores near the surface. The northern part of White Pine County has some very large gold deposits, including Bald Mountain and Alligator Ridge, operated by major mining companies.