K2 Gold Corp. - Mojave

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Summary

Location: Inyo County, California
Land Package:
- >50 km2 land position
- 5,830 ha
- Covers more than 12 exploration targets with only 2 drilled by the Company to date
Minerlization consists of:
- Sediment-hosted, oxide gold
- Structurally controlled silver – base metal +/- gold
- Gold-silver +/- base metal skarn
- Potential for Cu-Au porphyry mineralization

Project Description

Mojave was BHP’s last remaining gold property in N. America before exiting gold exploration and mining worldwide
Historical drilling by Newmont BHP, & Asamera - ore grade economic intersections from surface - ~ 145 holes total (25 holes drilled by Newmont and 10 by BHP, every hole intersected mineralization)
Internal resource estimates (historic and non 43-101 compliant)) by Newmont and Great Bear Resources on only 2 of 8 currently identified gold targets. BHP internal report very ‘optimistic’

Exploration History of the Mojave Property

Gold mineralization was first discovered at Soda Ridge on the Northwest corner of the Mojave Property by Mobil in 1984. Prior to K2’s recently completed work at least eight other gold rich areas on the property had been recorded and partially investigated by exploration and mining companies, most notably Newmont and BHP. To date 145 drill holes have been completed by three companies: Newmont in 1985 (22 RC holes), Asamera in 1986 (113 RC and diamond drill holes), and BHP in 1997 (10 RC holes) on three of the nine gold targets. Other companies that have explored on the Mojave property include Great Bear Resources and SSR Mining but the recent work by K2 is the most extensive and comprehensive since 1997. There are now 12 gold and base metal exploration targets on the Mojave property.

The historical drill programs focused on three different target areas on the property, Newmont, Empire Zone and Dragonfly. Highlights of historical drill results include 1.05 g/t over 99.06m, 2.1 g/t Au over 16.8m, and 1.54 g/t Au over 24.4m.

Since acquiring the property, the Company has completed geochemical and geophysical surveys, geologic mapping LiDAR, a World-View 3 alteration survey, and completed a 17 hole – 2540m RC drilling program focused on the Dragonfly and Newmont Zones.

Highlights of the drilling include:

DF20-002: 6.68 g/t Au over 45.72m from surface
DF20-004: 7.18 g/t Au over 30.48m from surface
NM20-011: 1.69 g/t Au over 41.15 from 44.20m depth
NM20-016: 1.00 g/t Au over 22.86m from 42.67m depth

Highlights of K2 Gold’s drilling results from Dragonfly and Newmont

Target	Site ID	Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)
Dragonfly	DF-1	DF20-001	0.00	18.29	18.29	3.10
		And	42.67	51.82	9.14	0.70
		And	102.11	108.20	6.10	1.11
		Envelope of Alt.	0.00	51.82	51.82	1.23
		DF20-002	0.00	45.72	45.72	6.68
		Including	9.14	33.53	24.38	10.93
		And	67.06	86.87	19.81	2.18
		And	161.54	164.59	3.05	1.02
		Envelope of Alt.	0.00	86.87	86.87	4.02
		DF20-003	3.05	21.34	18.29	3.21
		And	53.34	65.53	12.19	2.29
		And	109.73	120.40	10.67	0.86
		And	134.11	146.30	12.19	1.24
		Envelope of Alt.	3.05	65.53	62.48	1.40
		DF20-004	0	30.48	30.48	7.18
		Including	7.62	22.86	15.24	11.12
		And	59.44	76.20	16.72	1.86
		And	108.20	117.35	9.12	1.23
		Envelope of Alt.	0.00	76.20	76.20	3.27
	DF-2	DF20-005	13.72	22.86	9.12	0.65
		DF20-006	1.52	25.91	24.32	0.21
		And	71.63	82.3	10.64	0.58
		DF20-007	21.34	35.05	13.72	0.49
		DF20-008	NSV
Newmont	NM-1	NM20-009	53.34	73.15	19.81	0.66
		Including	68.58	73.15	4.57	1.99
		NM20-010	65.53	89.92	24.38	0.64
		NM20-011	44.20	85.34	41.15	1.64
		Including	48.77	65.53	16.76	2.03
		And	71.63	82.30	10.67	2.36
		NM20-012	54.86	82.30	27.43	0.56
		NM20-013	53.34	56.39	3.05	1.38
	NM-2	NM20-014	35.05	41.15	6.10	1.58
		And	79.25	86.87	7.62	2.35
		NM20-015	39.62	60.96	21.34	0.68
		Including	42.67	51.82	9.14	1.43
		NM20-016	42.67	65.53	22.86	1.00
		Including	44.20	54.86	10.67	2.01
		NM20-017	42.67	62.48	19.81	0.82
		Including	51.82	59.44	7.62	1.87

Highlights of historical drilling results from Newmont, East Zone and Dragonfly

Target	Hole ID	From (m)	To (m)	Int (m)	Au (g/t)
Newmont	CGL-1	8.23	11.28	1.52	8.23
	CGL-3	38.40	55.17	16.76	2.08
	CGL-12	208.79	225.55	16.76	1.09
	CGL-19	74.68	99.06	24.38	0.91
	Incl.	74.68	80.78	6.10	3.07
	CM97-9	120.40	135.64	15.24	1.00
East	CGL-8	51.816	56.388	4.572	1.82
Dragonfly	CM97-3	47.24	53.34	6.10	2.00
	And	163.07	172.20	9.13	1.17
	CM97-4	0.00	24.38	24.38	1.54
	Incl.	16.76	22.86	4.95	6.10
	And	42.67	54.86	12.19	3.84
	And	88.59	97.54	9.14	1.55
	CM97-5	146.30	158.50	12.20	1.48

Geology of the Mojave Project

The Mojave property is underlain by a Paleozoic, carbonate-dominated stratigraphic sequence of siltstone, shale, limestone, and conglomeratic units that have been subjected to multiple deformational events. The units are commonly folded and thrusted and are cut by late, steeply dipping, normal to strike-slip faults. Jurassic intrusive plug, dikes, and sills also locally disrupted the units.

Gold mineralization at Mojave is typically oxide, sediment hosted, and structurally controlled by steeply dipping faults and lithologic contacts. The alteration, mineralization, and geochemistry have similarities to both Carlin and epithermal type gold systems. Polymetallic Au-Ag, Cu, and/or base-metal occurrences are also recognized on the property and typically form proximal to Jurassic intrusive units indicating the potential for porphyry and other intrusion-related mineralization.

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