Battle Mountain Portfolio

The Battle Mountain Portfolio

The Battle Mountain Portfolio is comprised of 15 separate projects that total over 44,478 acres across 2,203 unpatented claims in five counties: Elko County, Eureka County, Humboldt County, Lander County, and Nye County.

The majority of the Battle Mountain Portfolio is located within the Battle Mountain Trend, with several projects in close proximity to globally reputable gold deposits including Nevada Gold's Cortez Mine, the third largest gold mine in North America(1) and the sixth largest in the world, which reported 2020 gold production at 799,000 ounces.(2) The same belt of deposits also contains the recently discovered Goldrush complex that, as of 2016, carries measured and indicated resources of 25.2 million tonnes grading 10.6 g/t, representing 8.6 million ounces of gold in the ground.(3)

The northernmost projects in the Battle Mountain Portfolio, the Golconda and Clover Projects, lie just south of the Getchell Gold Belt, which bridges the northwestern ends of the Carlin and Battle Mountain Trends, and contains Nevada Gold's Turquoise Ridge Mine, the third largest gold mine in the US with 537,000 oz of gold production reported in 2020.(2) The Brock and Stargo Projects are situated on the southern end of the Austin-Lovelock Trend, southwest of Eureka and northeast from Kinross Gold Corporation's Round Mountain Mine, which placed as the fourth largest gold mine in the US(2) and, in November of 2018, poured its 15 millionth ounce of gold since beginning operations in 1978.(4)

Below is a complete list of projects that comprise the Battle Mountain Portfolio:

  • The Brock Project: 220 unpatented claims in Eureka County
  • The Clipper Project: 69 unpatented claims in Lander County
  • The Clover Project: 169 unpatented claims in Elko County
  • The Elder Creek Project: 6 unpatented claims in Lander County
  • The Elephant Project: 197 unpatented claims in Lander County
  • The Golconda Project: 108 unpatented claims in Humboldt County
  • The Horseshoe Basin Project: 50 unpatented claims in Lander County
  • The Long Peak Project: 34 unpatented claims in Lander County
  • The North Battle Mountain Project: 67 unpatented claims in Lander County
  • The North Mill Creek Project: 23 unpatented claims in Lander County
  • The Pipeline South Project: 144 unpatented claims in Lander County
  • The Stargo Project: 337 unpatented claims in Nye County
  • The Walti Project: 402 unpatented claims in Eureka County and Lander County
  • The West Cortez Project: 274 unpatented claims in Lander County
  • The West Whistler Project: 103 unpatented claims in Eureka County

The Battle Mountain Portfolio is comprised of primarily early-stage projects. While drilling has been completed at some projects, such as Elder Creek (155 holes) and Clover (104 holes), many have only surface sampling and geophysical surveys completed. Notable drill intersects include 25.3 g/t Au over 9.75 meters at Clover(4) and, according to documentation provided by Waterton Global Resource Management, Inc., 3.19 g/t Au over 38.96 meters at Elder Creek, and 8.02 g/t Au and 174 g/t Ag over 9.14 meters at Long Peak. Of particular note are the Long Peak, Elephant, Elder Creek, North Mill Creek, Clipper, Pipeline South, and West Cortez, and Walti Projects which are interpreted to lie along the northwest trending fault that hosts the high-grade Pipeline deposit, which is included in Nevada Gold's Cortez Mine.

(1) https://www.kitco.com/news/2021-04-05/Top-10-biggest-gold-mines-in-the-United-States-report.html

(2) Kinross Bald Mountain Mine 2020 Mineral Reserves and Resources https://www.kinross.com/operations/default.aspx#reserves

(3) Technical Report Maverick Springs Project Nevada, USA prepared for Vista Gold Corp. and Silver Standard Resources, April 13, 2004, available on SEDAR

(4) Evidence for a magmatic origin for Carlin-type gold deposits: isotopic composition of sulfur in the Betze-Post-Screamer Deposit, Nevada, USA - Stephen E. Kesler, Lee C. Riciputi, Zaojun Ye, May 28, 2005 https://deepblue.lib.umich.edu/bitstream/handle/2027.42/46046/126_2005_Article_477.pdf;jsessionid=34000A663A86E4DA526E84CEB03811AD?sequence=1

(5) Vista Gold Corp. News Release 2004 https://www.vistagold.com/news/archive/news-2004/578-vista-gold-corp-announces-updated-resource-estimate-for-the-maverick-springs-project-in-nevada

(6) Vista Gold Corp., December 16, 2002, Resource Estimate Report for the Maverick Springs Project Nevada, USA, available on SEDAR

(7) Special Publication MI-2019: The Nevada Mineral Industry 2019 - Nevada Bureau of Mines and Geology, p. 3 https://pdacnv.com/wp-content/uploads/2021/03/2019_MI_Report_Draft_21621.pdf

(8) Barrick Gold Corporation, March 22, 2019, NI 43-101 Technical Report on the Goldstrike Mine, Eureka and Elko Counties, State of Nevada, USA, available on SEDAR

(9) https://education.kitco.com/precious-metals/largest-gold-mines-north-america-q1-2020

(10) Barrick Gold Corporation, 2015 Year-End Report and Fourth Quarter Results https://s25.q4cdn.com/322814910/files/doc_financial/quarterly_results/2015/q4/Barrick-2015-Q4-Year-End-Report.pdf

(11) SSR Mining Inc., June 18, 2018, Updated Marigold Life of Mine Plan Confirms Near-Term Production Growth and Robust Economics http://s22.q4cdn.com/546540291/files/doc_news/2018/2018-06-18-Updated-Marigold-Life-of-Mine-Plan-FINAL.PDF

(12) https://kinrossworld.kinross.com/en/round-mountain-celebrates-15-million-ounces-poured/

(13) Atna Resources Ltd., News Release, September 4, 2003, available on SEDAR

(14) https://www.barrick.com/English/news/news-details/2019/Barrick-and-Newmont-Forge-Nevada-Joint-Venture-Agreement/default.aspx

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