Ann: FURTHER HIGHLY ENCOURAGING RESULTS FROM PEARL, page-13

Q: How does the Pearl Project’s location in Arizona, a Tier-1 mining jurisdiction, benefit your operations?


A: That cannot actually be understated - was very evident when we were on site and travelling around conducting the DD back in July.

First of all …we’ll start with the roads. You've got amazing road networks for transportation of bulk goods and everything else. You've got a major railway. Major roads run within a few kilometres of our mining claim. Runs right through the town of Mammoth, which is just to the east (another fascinating historical mining area).

But that’s just the start. Then you bring on power. Really big grid power system over there.

Then you step back, and you've got concentrators and you've got refineries, and everything else.

And all of that infrastructure for processing copper ore is there within a 100k radius.

So what that opens up when you start - again, I'll bring it back to that mineability perspective - what that opens up just from an infrastructure position is you can start to look at things with two lenses:

One is, okay, a mine processing facility type approach;

But then you have the potential of the second approach, which is a mine only and a take-off agreement or third-party toll treatment site set-up - to manage capital position.

So again, I bring it right back to mineability. Even when we look at things in greenfields, having all these bullets in the chamber so to speak on how to have success just become so important to driving a project and seeing pending exploration success being able to keep building into something that has the potential to be mined