Sotkamo Silver Mo i Rana and Tampere areas. Erkki Kuronen Chief Geologist, M.Sc., MAusIMM Sotkamo Silver Oy

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1 Mo i Rana and Tampere areas Erkki Kuronen Chief Geologist, M.Sc., MAusIMM Oy

2 Mo i Rana and Tampere areas Erkki Kuronen Chief Geologist, M.Sc., MAusIMM Oy Silver 2

3 Deposits and Projects develops silver, gold and zinc deposits in the Nordic region: Silver Mine Project Including exploration targets at the Tipasjärvi Greenstone Belt Gold prospects at the Tampere area Hopeavuori as the most advanced Mo I Rana project in Norway VMS type Zn-Cu-Pb-Ag-Aumineralizations Historically, the Mofjellet mine produced 4.35 Mt of ore at average grade of 3.6 % Zn, 0.7 % Pb and 0.3 % Cu Mo I Rana Silver Mine Tampere 3

4 Mo i Rana Highly prospective base metal deposit province in Mo i Rana; a mining friendly community with active mining (Rana Gruber iron ore mine). Sotkamo holds 5 mining concessions (MC) and 20 exploration license (EL) areas: Mofjell mine 5 MCs Remaining resource % Zn, 0.4% Pb and 0.3% Cu. VMS Zn-CU-Pb with Au and Ag 14 ELs Extensive database from Gexco/NGU Fe-oxide Au +/- sulphides 4 ELs Iron formations with Au potential PGM- and Ni-potential 2 ELs Unexplored target in ultramafic rocks 5 km 4

5 High potential of the Mo i Rana tenements Intensive and pervasive deposition of sulphides in the area, a total of 200 individual mineralizations, prospects and deposits. Sotkamo tenements cover 90 of these. Existing datasets Joint project of Norway s Geological Survey (NGU), local county and GEXCO conducted high resolution helicopter TEM survey over ca. 500 km2, line kilometers in Drilling of 147 drill holes totalling to meters, most of that in the Mofjell mine area Insufficient testing of the TEM anomalies due to stopping of the joint project (2008 crisis); preliminary data processing and target generation have been done. Sotkamo will apply novel techniques to analyse available data and generate targets for further testing. Collaboration with NGU, Universities, Research Organizations and other partners. Structural modelling and generation of the exploration model Norwegian government is supportive to mining which is seen as a facilitator for the Green Shift 5

6 Over 10% of Cu+Zn+Pb in the best NGU hand samples NGU collected and analysed hand samples from the outcrops, trenches and old pits. Highest base metal concentrations (Cu+Zn+Pb) are from Hammaren (E of Mofjell), Hesjelia, Småvatnan and Hellerfjellet which are the most potential targets. 02/09/2018 Silver 6

7 Drill core intervals Map shows the mineralized zones and and locations of best drill core intersections. Meters and grades are examples of the drill core intervals of the historic drilling excluding Mofjell mine area. Zn 2.0% Pb 0.1% Cu 0.3% Zn 2.2% Pb 0.1% Cu 0.2% Zn 1.7% Pb 0.1% Cu 0.4% Zn 0.9% Pb 0.1% Cu 1.5% Zn 3.3% Pb 1.1% Cu 0.3% Zn 1.6% Pb 0.1% Cu 0.7% Zn 1.2% Pb 0.4% Cu 0.4% 02/09/2018 Silver 7

8 TEM anomalies and survey areas TEM survey covers ca. 500 km2, line kilometers Blue areas in the map indicate surveyed areas TEM anomalies are shown with red-yellow color and indicate mineralized zones 02/09/2018 Silver 8

9 Cross sections from Mofjell (left) and Heramb (right) 02/09/2018 Silver 9

10 Hellerfjellet The outcrops of the Hellerfjellet deposit consist of a number of small, very rich sulfide lenses (> 10 % Cu+Zn+Pb, > 100 g/t Ag) surrounded by weak sulfide disseminations The only drillhole by GEXCO (DDH 4508) intersected 5 m with c. 2 % base metals and 27 g/t Ag 250 m downdip from the outcrops. TEM data indicates that the mineralization may extend for at least 1.5 km along strike Silver 10

11 Gold potential of Mofjell High Au concentrations were detected in the drill cores during the last years of the mining in Mofjell Best drill core intervals yielded ppm Au and 2, ppm Au Au is associated with low grade base metal mineralization beside the main ore zone NGU have investigated some old drill core and concluded that: Au occurs as native gold and in electrum as alloy with Ag Au and Ag have strong correlation Au and Ag have positive correlation with Cu and Pb Au mineralization seems to be structurally controlled and is enriched in fold closures 11

12 Rocks in Mo i Rana Galena-bearing quartz veins at Solvberget (Silver Mountain); possible carriers of Ag (and Au) Blocks of massive sulphides; old exploration trenches from early 1900 s 12

13 POTENTIAL IN MO I RANA, NORWAY Sotkamo holds very attractive tenements in Mo i Rana, highly prospective and underexplored in recent times. Mo I Rana area hosts numerous potential VMS hosted base and precious metal targets to be developed. Potential for both small to medium size rich base metal deposits and gigantic low grade deposits Mine

14 Tampere area Au deposits highlights Au deposits in Tampere area yellow dots refer to know deposits Dragon Mining operates two gold mines, Orivesi and Jokisivu and has a concentrating plant in Vammala producing 30 koz/a. Sotkamo holds the following deposits: Hopeavuori the most advanced Inferred resource g/t Drilling commencing in Nov 2017 Kalliojärvi 1, best diamond core interval: g/t Metsäkylä 1, best diamond core interval: g/t, native Järvenpää 1, best diamond core interval: Up to 2 g/t Au in drill core samples Lavajärvi 1, best diamond core interval: 4 1 g/t Isovesi 1, best diamond core interval: g/t Au 40 km 14

15 Tampere area deposit geology Paleoproterozoic Tampere schist and Vammala migmatite belts; the latter being more intensively deformed and metamorphosed. Hosts tens of indivial deposits, both Orogenic and Epithermal in origin. Gold occurs typically with arsenopyrite in quartz veins, as native or associated with bismuth and antimone GTK and mining companies have conducted exploration works; all previous data available for Sotkamo. Ca meters of historic drill holes in the tenement areas. Au-bearing quartz veins in Metsäkylä 15

16 Hopeavuori drill hole locations and geology Hopeavuori Amphibolite c lsi e k dy Granodiorite Fe GTK investigations in the 1990 s: diamond drilling (29 holes, 1 905,40 meters) geophysical surveys (Mag, EM, Gravity) geochemical soil sampling Sotkamo conducted re-assaying of historic drill core in 2014, over 900 samples Lab-scale concentrating tests of drill core sample at GTK/Mintek Bulk sulphide flotation yielded 93% Au recovery Gold is associated with thin quartz veins and shear zones both in the granodiorite and amphibolite. Arsenopyrite and pyrrhotite are dominant sulphide minerals. Drilling is concentrated to Hopeavuori and Hopeavuori W; distance ca. 500 meters Deposit is open along the strike and down-dip and can increase significantly in tonnage 100 m Hopeavuori W Hopeavuori 16

17 Kalliojärvi another interesting target in Tampere GTK investigated the area in the 1990 s and early 2000 s: diamond drilling (46 holes totalling meters) geophysical surveys (Mag, IP) geochemical soil sampling Gold is associated with quartz veins in a set of subparallel, E-W trending mineralized zones along strike of minor shear zones in a shallow west-plunging synform of the host mica gneiss. Au-anomaly in soil was the first indication but drilling has concentrated to W-end of the anomaly. Soil anomaly has length of ca. 400 m in surface and the deposit is open along the strike The best intersections include 4.8 m at 6.5 ppm, 4.3 m at 7.2 ppm, 3 m at 5.6 ppm and 1 m at 15.7 ppm Au Silver 17

18 Available data Mo I Rana in Norway Representive drill core intersections are stored in the National Core Depot in Løkken Helicopter TEM survey data and historic drill hole logs and analysis results in electronic format Reports in electronic format (dominantly in English) Tampere in Finland Representive drill core intersections are stored in the National Core Depot in Loppi Historic exploration data is available in hard copies and also in electronic form at GTK, including: Ground geophysical survey results Geochemical sampling results Drill holes logs and analysis Reports in electronic format (dominantly in Finnish) Most of the data is available in electronic format or can be easily obtained in electronic format Drill core depots can be visited and drill core inspected as per rules of the GTK/NGU Field visits can be conducted earliest in May (Tampere) and late-june/early-july (Mo i Rana) 18

19 Conclusions Sotkamo holds very attractive tenements both in Mo i Rana and Tampere; both highly prospective and underexplored in recent times. Mo I Rana in Norway Mo I Rana area hosts numerous potential VMS hosted base and precious metal targets to be developed. Potential for both small to medium size rich base metal deposits and gigantic low grade deposits Norway is mining friendly and stable country with good infrastructure and government support. Tampere in Finland Potential gold occurrences in area with operating gold mines. Proven geological potential. Good infrastructure. 19