Ann: Binding Term Sheet Executed for Lorena Project Acquisition, page-31

Neshehk, mate I hear you. I think your comments are warranted. I do like the announcement of the purchase of Lorena Gold Mine. Why? because CIP gives instant cash flow unlike heap leach. You ask, “ has the MD had any experience in the mining industry?”my own investigation reveals NO, but if surrounded by experienced personnel he just needs to take their advice.Overall and bring candid, from talking to brokers it seems the negativity on TBA is the lack of real experience and management quality with the on site management. it seems the money just doesn’t know what to do with this stock. To the money it seems no kne on site knows how or what to do next to progress the project. The heap leach pads began construction under a big fanfare in September 2021. 8 months later ( shelve that plan) millions $$ spent. The photos revealed on recent social media of the massive width of the open cut at Comstock and Falcon released by the LinkedIn guy Dan Mundy purporting to be the mine manager on HC. He is totally unknown in the mining industry and has analysts scratching their heads, asking why is he not mining the ore in lieu of a massive 20:1 ( waste/ore) strip back. Ore is more of an urgency than waste. Why build the heapLeach pads over 8 months and walk away. Most mi ing companies after 8 months would be on their tenth gold pour. Being the devils advocate I think to be brutally honest the market has come to the conclusion that the market had no confidence in the mine managers or engineering consultants ability at Mt Freda or Golden Mile to progress the project to production. Still no photos of the process plant. Seems sitting on the outside and reading between the lines “someone or all are clueless and inexperienced at this level. My personal guess is the board has also come to this conclusion and bypassed the clueless to achieve certainties of producing the little yellow brick we all patiently wait for. I think this move is a winning move. Instant cash flow from CIP, bite the bullet, remove the obstacle of fools in consequential decision making process and pull the tooth. TBA looks today like a ten bagger.