Exodus Gold Project.

Exodus Gold Project Option:

  • Privately held and actively explored since first staked in 2017. Exploration to-date has identified a potential district wide high-grade gold system encompassing an extensive orogenic quartz vein field hosted by deformed and metamorphosed volcanic and sedimentary rocks. Carbonate alteration is widespread around quartz veins.
  • Widespread gold and associated arsenic and antimony geochemical anomalism displayed by quartz vein and soil samples. Recent trenching (Trench 1) yielded 14 rock samples grading greater than 5.0 g/t Au, including 9.01 g/t Au (35,600 ppm As, 609 ppm Sb), 13.70 g/t Au (26,000 ppm As, 295 ppm Sb) and 23.2 g/t Au (74,600 ppm As, 1,540 ppm Sb). Gold mineralization occurs with arsenopyrite and antimony minerals, suggesting a possible epizonal orogenic setting.
  • Significant land position consisting of 11,241 hectares (112.41 sq. km), with multiple gold showings identified through mapping, prospecting, soil sampling, thin section analysis, channel sampling, and trenching.
  • New extensions of logging roads completed in winter of 2019 provide approximately 15 km of year-round access throughout the mineral claims. Of note, similar mineralization was recently identified approximately 700 meters from Trench 1 in a new bedrock exposure along the new logging road extension.
  • Preliminary discussions have been initiated with Lheidli T’enneh First Nation with a goal of establishing a working relationship or MOU. The logging access road to the Exodus Gold Project was recently named “Mine Road” by LTN Contracting in June 2020.
  • Mineral claims are in good standing through December 31, 2021, with trenching and exploration permits also in place until 2021, and drilling permits are being finalized.
  • Extensive infrastructure exists nearby with rail and power within 10 km, and the city of Prince George, BC within 40 km.
  • Eligible for 30% Mountain Pine Beetle Mineral Exploration Tax Credit (“METC”) to assist in offsetting project expenses.
  • Eligible for British Columbia Super-Flow-Through future equity financings.
  • COVID-19 Operation Plan in place for safe, but active summer exploration program.
  • 2020 exploration plan encompasses detailed mapping, soil sampling, structural modeling, project wide geophysics, structural modeling with the aim of developing a fall diamond drilling campaign to test priority targets. Summer work will also include environmental and cultural studies.

About Exodus Gold Project

  • Located approximately 40km north of Prince George, BC.
  • Since 2007, Geoscience BC has implemented the QUEST project, consisting of regional geophysical and geochemical surveys that identified favourable potential for gold mineralization on the Exodus Gold Project. This included a large-scale 15km long magnetic low thought to be associated with hydrothermal alteration.
  • Structural interpretation of regional geology and geophysics has identified a significant north-south trending structure break transecting centrally through the property. This is inclusive of an interpreted deep-seated dilatational jog entirely confined within the claim block.
  • Gold occurs in zones of stockwork quartz veinlets and in quartz veins up to 1.5 meters wide. Various types of surface rock chip samples have yielded assays ranging from anomalous up to 23.2 g/t Au.
  • The prospective mineralized corridor is interpreted to be approximately 5 km wide and extend approximately 15 km along strike. This corridor is highlighted by a regional trend of low magnetism in which new gold showings have been discovered.

Project Location Map:

Exodus Gold Project Claims:

Exodus Gold Project Trench 1: Example of exposed quartz veins up to 1.5m wide:

Channel rock chip samples of high-grade gold quartz veins has been the initial focus of exploration work at the Exodus Gold Project. Based on limited sampling, significant mineralization is believed to occur within altered and deformed host rocks surrounding these veins. Gold mineralization is strongly associated with pathfinder elements arsenic and antimony, a possible indication of an epizonal orogenic setting for this system. 

Discovery Rock Sample 2017 (7.2 g/t Au):

Terms of the Proposed Transaction 

Under the terms of the Option Agreement, NV Gold may acquire a 51% interest in the Exodus Gold Project by paying Exodus Mineral Exploration Ltd. (“Exodus”) CDN$30,000 in cash, issuing 4.9 million shares of NV Gold and shares of NV Gold with a value of $85,000, and completing CDN$1.6 Million in exploration work commitments on the Exodus Gold Project by the third anniversary of the date (the “Approval Date”) the TSX Venture Exchange accepts the Option Agreement. After acquiring a 51% interest, NV Gold holds a further option acquire an additional 34% interest (total 85%) in the Exodus Gold Project by issuing an additional 4.5 million shares of NV Gold and shares of NV Gold with a value of $115,000, and completing an additional CDN$1.4 Million in exploration work commitments on the Exodus Gold Project by the fifth anniversary of the Approval Date. These payments are payable in stages over the term of the option as set forth in the table below.

Date

Cash

Shares

Work Program

 

CDN$

Incremental No. of Shares

Cumulative

Cash Value

Cumulative

Incremental Expenditure

Cumulative

Signing

 $ 5,000

 

 

 

TSX Approval

$ 25,000

250,000

250,000

6 months from TSX Approval

 

750,000

1,000,000

 

 

 $ 150,000

 

Year 1 from TSX Approval

1,250,000

2,250,000

 $ 25,000

$ 25,000

 $ 250,000

$ 400,000

 Year 2 from TSX Approval

 1,300,000

 3,550,000

$ 30,000

$ 55,000

 $ 600,000

$ 1,000,000

 Year 3 from TSX Approval

 1,350,000

 4,900,000

$ 30,000

$ 85,000

  $ 600,000

$ 1,600,000

Total to Earn 51%

$30,000

4,900,000

 

$ 85,000

 

$ 1,600,000

 

 

 

 

 

 

 

 

 Year 4 from TSX Approval

 2,250,000

 7,150,000

$ 50,000

$ 135,000

  $ 650,000

$ 2,250,000

Year 5 from TSX Approval

 2,850,000

 10,000,000

$ 65,000

$ 200,000

  $ 750,000

$ 3,000,000

Total to Earn 85%

$30,000 

10,000,000 

 

$ 200,000 

  

$ 3,000,000 

  

In addition, if NV Gold’s market capitalization exceeds $100 million for 10 consecutive trading days, NV Gold must pay Exodus shares of NV Gold having a value of $200,000.

After NVX has exercised its first option and either exercised its second option or the second option has terminated, a joint venture will be formed with Exodus, with their respective interest either 51% NV Gold:49% Exodus or 85% NV Gold:15% Exodus depending on whether NV Gold exercises its second option.  Under the agreed terms of the joint venture, if a person’s interest in the joint venture is diluted below 10%, its interest will be converted to a 1% NSR Royalty with the non-diluting party then holding 100% of the Property. Exodus has retained a 2% NSR Royalty on the Exodus Gold Project, with NV Gold holding an option to purchase 1.0% for CDN$1.0 million. Exodus has agreed to hold over 70% of all shares it receives for a minimum of one (1) year, instead of just the statutory four months plus a day.

Included in the above stated terms, NV Gold is required to pay only CDN$30,000, issue 250,000 shares, and commit to a minimum of CDN$150,000 in exploration expenses within the first six months of the option. The Company’s goal is to ensure we minimize initial share dilution and cash from our treasury prior to gaining additional valuable information on the Exodus Gold Project.

2019 Channel Samples - Analytical Values

 EXODUS ID   Au
ppm 
 As
ppm 
 Sb
ppm 
Sample
Length
(m)
 Sample
Type 
 Sample
Media 
Trench
Location 
T1-C-7-1 4.70 11,200        180.00 0.50 Channel Quartz Veins  T1
T4-C-01 3.95 15,500        129.00 1.50 Channel/Chip Quartz Veins + Red Soil  T4
T4-C-02 2.53 13,900        107.00 1.30 Channel/Chip Quartz Veins + Red Soil  T4
T1-C-10 1.67 5,020          65.40 1.10 Channel Quartz Veins  T1
T1-C-2 1.43 3,150          36.00 0.80 Channel Quartz Veins  T1
T4-C-03 1.25 8,220          89.90 1.30 Channel Quartz Veins + Host Rock  T4
T1-C-1 1.16 3,320          32.10 0.60 Channel Quartz Veins  T1
T1-C-16 1.09 10,400 61.20 0.60 Channel Quartz Veins + Host Rock  T1
T1-C-9 0.963 4,350 38.70 0.90 Channel Quartz Veins  T1
T2-C-12 0.939 5,280 29.50 0.50 Channel Quartz Veins  T2
T2-C-14 0.761 4,630 28.70 0.60 Channel Quartz Veins  T2
T1-C-3 0.715 2,350 26.50 0.90 Channel Quartz Veins  T1
T2-C-01 0.693 6,250 33.60 0.70 Channel Quartz Veins + Host Rock  T2
T3-C-5-1 0.634 815 16.30 0.70 Channel Quartz Veins + Host Rock  T3
T1-C-12 0.597 4,420 35.90 1.30 Channel Quartz Veins + Host Rock  T1
T1-C-6 0.592 2,290 32.50 1.10 Channel Quartz Veins  T1
T2-C-02 0.589 4,310 24.60 0.70 Channel Quartz Veins + Host Rock  T2
T1-C-4 0.583 1,990 30.50 1.00 Channel Quartz Veins  T1
T2-C-05 0.567 1,890 23.80 0.70 Channel Quartz Breccia Veins + Host Rock  T2
T2-C-11 0.561 4,000 51.60 0.50 Channel Quartz Veins + Host Rock  T2
T1-C-11 0.547 4,690 30.50 1.20 Channel Quartz Veins + Host Rock  T1
T1-C-7-2 0.528 5,280 46.00 0.60 Channel Quartz Veins + Host Rock  T1
T1-C-14 0.514 3,960 30.70 1.20 Channel Quartz Veins + Host Rock  T1
T1-C-18 0.467 4,310 29.90 0.80 Channel Quartz Veins + Host Rock  T1
T1-C-17 0.417 3,220 30.50 0.90 Channel Quartz Veins + Host Rock  T1
T2-C-06 0.402 2,090 25.50 0.70 Channel Quartz Breccia Veins + Host Rock  T2
T1-C-15 0.35 1,980 27.40 1.00 Channel Quartz Veins + Host Rock  T1
T3-C-6-2 0.348 714 17.60 0.70 Channel Quartz Veins + Host Rock  T3
T3-C-4-2 0.319 4,180 29.20 0.70 Channel Quartz Veins + Host Rock  T3
T1-C-8 0.281 1,830 22.40 1.10 Channel Quartz Veins + Host Rock  T1
T3-C-6-1 0.241 556 14.00 0.70 Channel Quartz Veins + Host Rock  T3
T3-C-5-3 0.220 3,790 24.40 0.70 Channel Quartz Veins + Host Rock  T3
T2-C-07 0.215 2,140 26.00 0.70 Channel Host Rock  T2
T3-C-5-2 0.215 2,060 12.30 0.70 Channel Quartz Veins + Host Rock  T3
T2-C-03 0.189 1,500  12.80 1.10 Channel Quartz Veins + Host Rock  T2
T3-C-9 0.180 1,320 15.40 1.10 Channel Quartz Veins + Host Rock  T3
T2-C-04 0.144 577 11.20 0.60 Channel Quartz Breccia Veins + Host Rock  T2
T1-C-5 0.137 774 13.90 0.70 Channel Quartz Veins + Host Rock  T1
T3-C-7 0.126 611 10.10 1.10 Channel Quartz Veins + Host Rock  T3
T3-C-2 0.123 527 16.90 1.20 Channel Quartz Veins + Host Rock  T3
T2-C-10 0.106 448 7.50 0.50 Channel Quartz Veins + Host Rock  T2
T3-C-1-1 0.104 240 8.90 0.70 Channel Quartz Veins + Host Rock  T3
T3-C-4-1 0.103 502 9.50 0.70 Channel Quartz Veins + Host Rock  T3
T2-C-08 0.101 1,360 19.60 0.70 Channel Host Rock  T2
T3-C-11 0.079 324 11.50 1.00 Channel Quartz Veins + Host Rock  T3
T2-C-09 0.071 441 17.10 0.60 Channel Quartz Veins + Host Rock  T2
T3-C-1-2 0.060 244 9.40 0.80 Channel Quartz Veins + Host Rock  T3
T3-C-3 0.060 138 8.60 0.80 Channel Quartz Veins + Host Rock  T3
T3-C-8 0.060 146 7.60 0.60 Channel Quartz Veins + Host Rock  T3
T2-C-13 0.047 256 7.10 0.70 Channel Quartz Veins  T2
T3-C-10 0.047 208 10.80 1.00 Channel Quartz Veins + Host Rock  T3
T1-C-13 0.041 358 9.80 1.30 Channel Host Rock  T1
 

2019 ROCK SAMPLES

Sample #  EXODUS ID  Au
ppm 
Au
ppm  
As
ppm 
Sb
ppm 
Sample
Media 
Trench Location  
1 T1-V3-07 >10 23.20 74,600 1540 Quartz Veins T1
2 T1-V4-04 >10 13.70 26,000 295 Quartz Veins + Red Soil  T1
3 T1-V3-22 9.31 9.31 31,700 665 Quartz Veins T1
4 T1-V1-05 9.01 9.01 35,600 609 Quartz Veins T1
5 T1-V3-02 8.64 8.64 29,300 818 Quartz Veins T1
6 T1-V4-07 7.23 7.23 22,100 427 Quartz Veins T1
7 T1-V2-05 6.85 6.85 23,000 512 Quartz Veins T1
8 T1-V2-08 6.60 6.60 24,500 373 Quartz Veins T1
9 T4-S-01 6.47 6.47 18,800 185 Red Soil + Small Rock Fragments T4
10 T1-V3-05 6.26 6.26 21,600 373 Quartz Veins T1
11 T1-V4-01 5.99 5.99 18,500 276 Quartz Veins + Host Rock T1
12 T1-V3-06 5.92 5.92 21,400 508 Quartz Veins T1
13 T1-V4-08 5.51 5.51 11,100 100 Quartz Veins + Red Soil  T1
14 T1-V3-21 5.15 5.15 15,900 219 Quartz Veins T1
15 T4-S-02 4.51 4.51 14,600 99.8 Red Soil + Small Rock Fragments T4
16 T4-G-04 4.34 4.34 19,900 167 Host Rock + Red Soil  T4
17 T4-G-01 4.22 4.22 16,400 128 Quartz Veins + Red Soil  T4
18 T1-V1-07 3.99 3.99 8,550 55.7 Quartz Veins + Host Rock  T1
19 T1-V1-06 3.88 3.88 16,200 228 Quartz Veins + Red Soil  T1
20 T1-V3-10 3.77 3.77 13,300 257 Quartz Veins T1
21 T1-V2-07 3.74 3.74 10,200 280 Quartz Veins T1
22 T4-G-02 3.62 3.62 14,200 97.3 Quartz Veins + Red Soil  T4
23 T4-G-03 3.51 3.51 30,100 267 Host Rock + Red Soil  T4
24 T1-V3-01 2.94 2.94 24,600 333 Quartz Veins + Host Rock T1
25 T1-V2-03 2.82 2.82 10,300 156 Quartz Veins T1
26 T1-V3-04 2.80 2.80 10,500 183 Quartz Veins T1
27 T1-S-06 2.52 2.52 9,670 27.3 Red Soil + Host Rock  T1
28 T1-V3-20 2.49 2.49 8,040 113 Quartz Veins T1
29 T1-V3-17 2.48 2.48 8,230 142 Quartz Veins T1
30 T1-V1-02 2.43 2.43 7,590 69.2 Quartz Veins + Host Rock  T1
31 T1-S-03 2.27 2.27 7,360 98.7 Soil + Host Rock + Quartz T1
32 T1-V2-04 2.12 2.12 8,180 121 Quartz Veins T1
33 T1-V3-12 2.11 2.11 7,110 136 Quartz Veins T1
34 T1-V2-06 2.10 2.10 7,860 122 Quartz Veins T1
35 T1-V4-05 2.04 2.04 5,590 114 Quartz Veins T1
36 T1-S-04 1.86 1.86 1,420 51.8 Blue-Grey Vein Clay  T1
37 T1-V3-15 1.80 1.80 7,940 110 Quartz Veins T1
38 T1-V1-03 1.68 1.68 5,410 62.6 Quartz Veins T1
39 T1-V3-08 1.66 1.66 7,700 96.6 Quartz Veins T1
40 T1-V3-14 1.49 1.49 5,480 99.6 Quartz Veins T1
41 T1-V3-13 1.46 1.46 7,510 104 Quartz Veins T1
42 T1-S-01 1.46 1.46 10,000 80.1 Black Soil + Host Rock + Quartz T1
43 T1-V5-04 1.36 1.36 10,400 60.5 Quartz Veins + Host Rock T1
44 T1-V3-18 1.33 1.33 4,410 71.5 Quartz Veins T1
45 T1-V4-02 1.29 1.29 3,670 59.9 Quartz Veins T1
46 T1-V3-16 1.28 1.28 7,950 92.9 Quartz Veins T1
47 T1-V3-19 1.27 1.27 5,440 70 Quartz Veins T1
48 T1-V4-06 1.24 1.24 4,070 56.8 Quartz Veins T1
49 T1-V2-02 1.02 1.02 10,400 55.1 Quartz Veins + Host Rock  T1
50 T1-V5-05 0.940 0.940 6,210 39.5 Quartz Veins + Host Rock T1
51 T1-V5-01 0.877 0.877 8,270 56.7 Quartz Veins T1
52 T4-V1-03 0.780 0.780 3,850 47.1 Quartz Veins T4
53 T1-S-02 0.741 0.741 5,490 35.7 Red Soil + Host Rock + Quartz  T1
54 T1-V3-11 0.718 0.718 3,760 45 Quartz Veins T1
55 T2-V1-01 0.709 0.709 3,120 31.5 Quartz Veins T2
56 T4-V1-02 0.653 0.653 2,050 32 Quartz Veins T4
57 T1-V5-03 0.642 0.642 4,490 26.2 Quartz Veins T1
58 T1-V1-01 0.607 0.607 2,980 33.8 Quartz Veins + Host Rock  T1
59 T2-V2-03 0.573 0.573 3,350 21.3 Quartz Veins T2
60 T1-V4-09 0.543 0.543 1,310 28.2 Quartz Veins T1
61 T2-V4-03 0.513 0.513 2,770 23.8 Quartz Breccia Veins  T2
62 T1-WR-03 0.428 0.428 6,720 88.5 Host Rock + Black Soil  T1
63 T2-V4-04 0.415 0.415 2,770 27.3 Quartz Breccia Veins  T2
64 T2-V2-02 0.400 0.400 2,600 17.3 Quartz Veins T2
65 T2-V2-04 0.380 0.380 2,140 17.5 Quartz Veins T2
66 T2-V5-03 0.379 0.379 2,160 20.2 Quartz Veins T2
67 T2-V4-02 0.375 0.375 2,340 21.2 Quartz Breccia Veins  T2
68 T1-S-05 0.288 0.288 1,870 26.7 Red Soil + Host Rock  T1
69 T1-S-07 0.269 0.269 1,340 17.9 Red Soil + Host Rock  T1
70 T2-WR-03 0.240 0.240 2,060 41.6 Host Rock + Red Soil  T3
71 T4-V1-01 0.219 0.219 928 23.4 Quartz Veins T4
72 T2-V5-02 0.195 0.195 999 12.5 Quartz Veins T2
73 T2-V1-02 0.190 0.190 623 11.2 Quartz Veins T2
74 T1-V5-02 0.173 0.173 926 8.2 Quartz Veins + Host Rock  T1
75 T2-V4-01 0.162 0.162 204 11.4 Quartz Breccia Veins  T2
76 T2-V3-03 0.156 0.156 1,070 11.1 Quartz Veins T2
77 T3-V2-03 0.126 0.126 258 7.7 Quartz Veins + Host Rock T3
78 T2-V1-03 0.107 0.107 708 12.2 Quartz Veins T2
79 T3-V2-02 0.100 0.100 151 4.2 Quartz Veins T3
80 T1-V1-04 0.099 0.099 1,460 14.3 Quartz Veins + Host Rock  T1
81 T3-V1-05 0.092 0.092 209 10.4 Quartz Veins T3
82 T3-V3-03 0.089 0.089 83 4.3 Quartz Veins T3
83 T2-V5-01 0.084 0.084 563 7.3 Quartz Veins T2
84 T3-V1-04 0.078 0.078 218 10.5 Quartz Veins + Host Rock T3
85 T2-V2-01 0.077 0.077 303 12.1 Quartz Veins T2
86 T3-V2-01 0.073 0.073 105 4.6 Quartz Veins T3
87 T5-V2-03 0.073 0.073 435 8.8 Quartz Veins T5
88 T3-V4-05 0.072 0.072 430 6 Quartz Veins T3
89 T3-V1-07 0.068 0.068 186 8.9 Quartz Veins + Host Rock T3
90 T3-V4-02 0.068 0.068 183 13.1 Quartz Veins T3
91 T4-V1-04 0.065 0.065 198 16.3 Quartz Veins T4
92 T3-V1-06 0.064 0.064 107 6.8 Quartz Veins T3
93 T3-V3-01 0.064 0.064 246 4.9 Quartz Veins T3
94 T3-V1-02 0.059 0.059 278 6.1 Quartz Veins T3
95 T3-V2-06 0.057 0.057 43 4.2 Quartz Veins T3
96 T3-V3-04 0.052 0.052 233 5.8 Quartz Veins T3
97 T3-V1-01 0.051 0.051 146 9.3 Quartz Veins T3
98 T3-V3-02 0.051 0.051 124 6.2 Quartz Veins T3
99 T5-WR-01 0.048 0.048 264 8.5 Host Rock + Quartz Veins T5
100 T3-V2-04 0.047 0.047 208 4.8 Quartz Veins T3
101 T3-R-01 0.046 0.046 291 7.4 Quartz Veins T3
102 T3-R-03 0.046 0.046 459 9.9 Quartz Veins T3
103 T5-V1-02 0.046 0.046 263 9.2 Quartz Veins T5
104 T2-V3-01 0.045 0.045 234 5.9 Quartz Veins T2
105 T5-WR-02 0.042 0.042 401 12.2 Host Rock + Quartz Breccia Veins T5
106 T1-WR-01 0.038 0.038 243 9.5 Host Rock  T1
107 T2-V3-04 0.038 0.038 312 8.1 Quartz Veins T2
108 T3-R-02 0.038 0.038 424 11.1 Quartz Veins T3
109 T5-V2-01 0.036 0.036 183 7.5 Quartz Veins T5
110 T2-V3-02 0.032 0.032 192 5.9 Quartz Veins T2
111 T3-V4-04 0.031 0.031 115 9.4 Quartz Veins T3
112 T2-WR-01 0.027 0.027 136 18.6 Host Rock + Red Soil  T3
113 T5-V1-01 0.025 0.025 133 6.3 Quartz Veins T5
114 T5-V2-02 0.021 0.021 116 6.9 Quartz Veins T5
115 T5-V3-02 0.021 0.021 181 11.2 Quartz Veins T5
116 T3-V2-05 0.020 0.020 65 6.4 Quartz Veins T3
117 T5-V3-01 0.020 0.020 244 9.3 Quartz Veins + Host Rock T5
118 T5-V3-03 0.017 0.017 125 7.3 Quartz Veins T5
119 T1-WR-02 0.015 0.015 64 11.3 Host Rock T1
120 T3-V4-01 0.015 0.015 69 7.2 Quartz Breccia Veins  T3
121 T4-WR-01 0.015 0.015 63 8.6 Host Rock  T4
122 T5-WR-04 0.015 0.015 198 10.9 Host Rock  T5
123 T3-V1-03 0.014 0.014 72 3.1 Quartz Veins T3
124 T3-V4-03 0.009 0.009 92 5.3 Quartz Veins T3
125 T5-WR-03 0.008 0.008 225 11.9 Host Rock  T5
126 T3-V5-02 0.007 0.007 162 10.6 Host Rock + Quartz Veins T3
127 T3-EXT-01 0.007 0.007 25 3.2 Host Rock T3
128 T3-EXT-04 0.007 0.007 31 3.3 Host Rock T3
129 T2-WR-02 0.005 0.005 35 5.2 Host Rock T3
130 T3-EXT-02 0.005 0.005 24 2.7 Host Rock T3
131 T3-EXT-03 0.002 0.002 6 1 Host Rock  T3
132 T3-V5-01 <0.002 <0.002 22 4.4 Quartz Veins T3
133 T3-V5-03 <0.002 <0.002 15 4.3 Quartz Veins T3
134 T3-V5-04 <0.002 <0.002 27 5 Host Rock + Quartz Veins T3
135 T3-R-04 <0.002 <0.002 31 2.5 Host Rock T3