With a bit more drilling at Bell and Krista over next 6 months...

With a bit more drilling at Bell and Krista over next 6 months we should be able to upgrade the Hog Ranch Resource to 2m ounces by mid 2021.

Current Bell resource of 420,000 ounces still expanding from scoping study . Recent drilling has shown potential shallow gold expansion and high grade Lode gold ore at depth. With more drilling this should up the Resource towards 600,000 ounces and with silver ounces at 3,000,000 ounces the all in costs should imo drop the all in costs to around US$800 per ounce for life of project. The feasibility study should be looking at 60,000 ounces gold and 300,000 ounces silver per year for 10 year project.Very compelling margins and payback around 2 years with Gold at US$1500

Krista Resource expansion from current 800,000 ounces to 1.4m ounces by mid 2021 should be sufficient to commence feasibility studies for a 10 year project. With higher shallow grades and a larger project , perhaps 120,000 ounces per year gold the all in costs would come in under $US800 . Once again payback on capital would be around 2 years with gold at US$1500 .