The Property

The McKenzie Gold Project

Advancing the 100%-owned McKenzie Gold Project — 1,398 hectares with nearly 500 m of drilled strike in the Red Lake gold camp.

Property Overview

A Well-Mineralized Gold System in a World Class Camp

100% owned
Red Lake, Ontario
1,398 ha
Road & power access
QP · Warren Robb, P.Geo.

In the Heart of Red Lake

1,398 hectares in a single block along the southern part of Red Lake, near producing mines and past producers.

Shallow and Open

The first 30 holes established nearly 500 m of mineralized strike, from surface to 300 m depth. The zone is trending north and northwest across Perch Lake.

Two Mineralization Styles

High-grade quartz veins carrying visible gold occur within broad 1 g/t Au intercepts through the intrusives.

Access and Neighbours

~4 km west of Hasaga, near ground held by Evolution, Equinox and West Red Lake Gold. Paved roads and an existing power line serve the district.

1,398 ha
Land package: ~500 m
Mineralized strike: 0–300 m
Depth of mineralization: 27 of 30
Holes with ≥1 g/t Au intercept

Explore the District

Hover or tap any mine on the map to see its owner, production and years here.

McKenzie Gold ProjectActive MinePast Producer

Perch Zone 2020-21 Discovery

The Perch Zone Discovery

Maiden drilling in 2020-21 resulted in a significant Red Lake discovery

The Perch Zone discovery combines narrow, high-grade gold assays with lengthy intercepts averaging around 1 g/t Au extending into the intrusives.

27 of 30

90% success rate

Of the first 30 holes drilled in the Perch Zone in 2020-2021, 27 returned at least one reported intercept at or above 1 g/t Au.

Perch Zone intercepts by reported length
Reported length	Intercepts ≥1 g/t Au	Qualifying holes
Any length	142	27
≥1 m	137	25
≥5 m	30	10
≥10 m	17	7
≥25 m	7	3
≥50 m	3	3

Counts include separately reported overlapping intercepts and higher-grade intercepts; they are not additive or independent zones. Length thresholds are cumulative. Reported lengths are downhole, not true widths. Historical 2020–2021 results; no current mineral resource estimate. Hasaga Property Mineral Resource Statement, effective 30 June 2024: indicated 1,470 kt @ 8.64 g/t Au for 408 koz; inferred 2,059 kt @ 7.31 g/t Au for 484 koz, at a 4.0 g/t Au cut-off. Reviewed and approved by Scott Heffernan, M.Sc., P.Geo., EVP Exploration, Equinox Gold. Not verified by Autumn Gold Corp. Nearby mineralization is not necessarily indicative of McKenzie.

Perch Zone Discovery · 2020–2021

Drill Highlights

Geologist examining drill core at the McKenzie drill site

MK-21-018

12.14 g/t Au over 8 m

within broader intercept of 24.7 m @ 4.05 g/t Au

MK-21-019

1.25 g/t Au over 136.5 m

including 44.9 m @ 3.00 g/t Au, 15.5 m @ 5.25 g/t Au and 1 m @ 59.80 g/t Au

MK-21-018 · Upper Zone

1.01 g/t Au over 56 m

including 21.5 m @ 1.84 g/t Au, 10 m @ 3.30 g/t Au and 1 m @ 23.10 g/t Au

MK-20-006 · High Grade

13.25 g/t Au over 2.75 m

including 36.2 g/t Au over 1 m

0.99 g/t Au / 198 m
MK-21-018 whole-hole average: 0.74 g/t Au / 283.4 m
MK-21-019 whole-hole average: 94.20 g/t Au
Peak one-metre assay

Reported lengths are downhole intercepts and are not true widths. Grades are uncapped.

Red Lake 100m+ Gold Intercepts

Rare and World Class

Red Lake 100 m+ gold intercepts ranked by grade
Rank	Year	Project	Hole	Length (m)	Grade (g/t Au)	Company
1	2020	Great Bear / Dixie	BR-118	104.15	2.67	Great Bear Resources
2	2015	Hasaga	HLD004	122.5	1.61	Premier Gold
3	2021	McKenzie	MK-21-019	136.5	1.25	Autumn Gold Corp.
4	2017	Hasaga	HMP161	181.0	1.21	Premier Gold
5	2015	Hasaga	HMP024	107.0	1.19	Premier Gold
6	2016	Hasaga	HMP106	117.0	1.18	Premier Gold
7	2016	Hasaga	HLD052	177.0	1.09	Premier Gold
8	2021	Great Bear / Dixie	BR-306	106.7	1.08	Great Bear Resources
9	2016	Hasaga	HLD060	193.0	1.04	Premier Gold

Only nine identified in ~40 years of reported drilling. Seven of the nine occur at McKenzie and nearby Hasaga.

Client-supplied satellite map showing the McKenzie Gold Project boundary, 2020–21 discovery drilling beside Perch Lake, and nearby Equinox Gold mines: Hasaga Mine, 218 koz Au; Howey Mine, 422 koz Au; Red Lake Gold Shore Mine, 21 koz Au. Includes north arrow, coordinates and 0–2 km scale.

9: Only 9 qualifying intercepts identifiedin our review of approximately 40 years of reported Red Lake drilling.
2015–21: All 9 occurred between 2015 and 2021.
7 of 9: Seven of the nine occur at McKenzie and nearby Hasaga.
#3: McKenzie ranks #3 by average gradeamong the identified 100m+ intercepts (136.5 m @ 1.25 g/t Au).

Source: Review of publicly available historical and modern drill results in the Red Lake Gold District. Reported intervals are generally core/downhole lengths and may not represent true widths. The review is not an exhaustive audit of every historical drill assay in the district. Third-party results have not been verified by the Company's QP. Mineralization on nearby properties is not necessarily indicative of mineralization at McKenzie.

Perch Zone Discovery 2020-2021

High-Grade Gold

13 reported intercepts of 10 g/t Au and better, over a minimum of 1 metre

8 intercepts greater than 20 g/t Au in the first 30 drill holes in the Perch Zone

Intercepts of 10 g/t Au and better
Drill hole	From (m)	To (m)	Length (m)	Grade (g/t Au)
MK-20-06	68.75	71.50	2.75	13.25
MK-20-06	69.50	70.50	1.00	36.20
MK-21-18	22.00	23.00	1.00	23.10
MK-21-18	86.30	94.30	8.00	12.14
MK-21-18	86.30	92.30	6.00	16.09
MK-21-18	88.30	89.30	1.00	94.20
MK-21-19	149.50	150.50	1.00	59.80
MK-21-19	150.50	151.50	1.00	15.50
MK-21-19	180.40	181.40	1.00	26.70
MK-21-24	65.00	66.00	1.00	21.00
MK-21-24	70.50	72.00	1.50	24.50
MK-21-25	66.00	68.00	2.00	10.21
MK-21-25	66.00	67.00	1.00	23.70

Intercepts include overlapping higher-grade intercepts and are not additive. Reported lengths are downhole lengths, not true widths.

Source: supplied drill-results summary, citing NI 43-101 Technical Report, McKenzie Project (Kenwood, April 25, 2022). Historical drilling results.

Perch Zone Discovery 2020-2021

Gold Intercepts of 29 m or More

14 reported intercepts across 9 holes, grading ≥0.50 g/t Au, including overlapping intercepts

7 intercepts at 1 g/t Au and higher over 29m or more in the first 30 drill holes in the Perch Zone

Gold intercepts of 29 m or more
Drill hole		From (m)	To (m)	Length (m)	Grade (g/t Au)
MK-20-008		5.5	123.0	117.5	0.62
MK-20-008	including	67.5	123.0	55.5	1.00
MK-21-017		287.2	327.5	40.3	0.58
MK-21-018		13.0	69.0	56.0	1.01
MK-21-018		77.9	115.5	37.6	2.78
MK-21-018	including	86.3	115.5	29.2	3.43
MK-21-019		148.5	285.0	136.5	1.25
MK-21-019	including	149.5	194.4	44.9	3.00
MK-21-019	including	165.0	194.4	29.4	1.82
MK-21-020		48.0	84.0	36.0	0.55
MK-21-022		43.2	86.0	42.8	0.54
MK-21-028		203.0	276.0	74.0*	0.65
MK-21-029		132.0	265.0	133.0	0.52
MK-21-030		75.0	100.0	25.0	0.52

Source: McKenzie NI 43-101 Technical Report (July 28, 2026), Tables 7-9. Reported intercepts are downhole lengths, not true widths.

Overlapping intercepts are not additive. Whole-hole averages are excluded. *MK-21-028: source reports 74 m, but depths 203-276 m span 73 m.

Historical 2020-2021 drilling results. No current mineral resource estimate.

McKenzie · Perch Zone

2020–2021 Drill Results

REPORTED INTERVALS BY LENGTH AND GRADE THRESHOLD

Red Lake, Ontario

First 30 holes drilled in the Perch Zone

27 of 30 holes (90%)returned at least one interval of ≥1 g/t Au

TOTAL≥1 g/t Au(any length): 142reported intervals
≥1 METRE≥1 g/t Au: 137reported intervals
≥5 METRES≥1 g/t Au: 30reported intervals
≥10 METRES≥1 g/t Au: 17reported intervals
≥25 METRES≥1 g/t Au: 7reported intervals
≥50 METRES≥1 g/t Au: 3reported intervals
≥25 METRES0.50 – 1.00 g/t Au: 7reported intervals

REPORTED INTERVALS BY LENGTH AND GRADE THRESHOLD (≥1 g/t Au)

Length threshold (at ≥1 g/t Au)	Number of reported intervals (includes higher-grade sub-intervals)	% of total (142 intervals)	Number of holes with at least one interval at this threshold (30 holes total)
All lengths (≥1 g/t Au)	142	100%	27
≥1 metre	137	96%	25
≥5 metres	30	21%	10
≥10 metres	17	12%	7
≥25 metres	7	5%	3
≥50 metres	3	2%	3
≥25 metres (0.50 – 1.00 g/t Au)	7	5%	5

HIGH-GRADE INTERCEPTS OF 10 g/t Au & BETTER (min 1m)

Drill hole	From (m)	To (m)	Length (m)	Grade (g/t Au)
MK-20-06	68.75	71.50	2.75	13.25
MK-20-06	69.50	70.50	1.00	36.20
MK-21-18	22.00	23.00	1.00	23.10
MK-21-18	86.30	94.30	8.00	12.14
MK-21-18	86.30	92.30	6.00	16.09
MK-21-18	88.30	89.30	1.00	94.20
MK-21-19	149.50	150.50	1.00	59.80
MK-21-19	150.50	151.50	1.00	15.50
MK-21-19	180.40	181.40	1.00	26.70
MK-21-24	65.00	66.00	1.00	21.00
MK-21-24	70.50	72.00	1.50	24.50
MK-21-25	66.00	68.00	2.00	10.21
MK-21-25	66.00	67.00	1.00	23.70

SELECTED EXAMPLES OF LARGEST REPORTED INTERVALS (≥1 g/t Au)

Drill hole	From (m)	To (m)	Length (m)	Grade (g/t Au)	Notes
MK-21-019	148.5	285.0	136.5	1.25	Longest interval; Includes higher-grade runs
MK-21-018	13.0	69.0	56.0	1.01	Includes higher-grade runs
MK-20-008	67.5	123.0	55.5	1.00	Includes higher-grade run
MK-21-019	149.5	194.4	44.9	3.00	High-grade interval
MK-21-018	77.9	115.5	37.6	2.78	Includes 29.2 m @ 3.43 g/t Au
MK-21-019	165.0	194.4	29.4	1.82	including
MK-21-018	86.3	115.5	29.2	3.43	Within 37.6 m interval above

Note: Counts include all separately reported assay intervals from drill holes MK-20-001 to MK-21-030, including higher-grade sub-intervals listed as “Includes” within broader intervals. Intervals are downhole lengths, not true widths.

Source: NI 43-101 Technical Report, McKenzie Project (Kenwood, April 25, 2022). Results are from historical drilling and should not be relied upon to be precise. For information purposes only.

Drill Core

Visible Gold

Free gold and coarse pyrite logged through the 2021 program — the same veins that returned single metres of 23.10, 59.80 and 94.20 g/t Au.

Circled Visible GoldFree gold specks marked during logging of 2021 drill core

Quartz Vein, MarkedA milky white quartz vein carrying visible gold, flagged in the core box

Coarse Sulphide in QuartzAbundant coarse pyrite through a white quartz vein in the mineralized zone

Core photographs illustrate mineralization styles and do not establish grade.

Perch Zone Strike Extension

Extending the Perch Zone

Establishing consistent mineralization north, northwest and west of Perch Lake offers significant upside.

Limited drilling and sampling in 2021 confirmed mineralization is trending towards untested areas of interest.

MK-21-24

2.19 g/t Au over 22 m

including 1.5 m @ 24.5 g/t Au

MK-21-25

10.21 g/t Au over 2 m

Grab samples, g/t Au
Grab Samples (g/t Au)
13.4	7.70
6.83	3.54
3.51	1.13
1.08	1.08

2021 drill holes and grab samples north and west of Perch Lake, with the interpreted strike extension

Source: McKenzie NI 43-101 Technical Report (July 28, 2026).

Grab samples are selective by nature and are not necessarily representative of the true distribution, thickness, or average grade of the mineralization across the property

Additional Zone of Interest · Historical Results

McKenzie Island — Additional Mineralized Zone

In addition to the Perch Zone, McKenzie Island offers a compelling second exploration opportunity with demonstrated high-grade gold, multiple targets and limited modern follow-up.

Historical grab samples up to

331.14 g/t Au

and multiple additional high-grade occurrences.

Quartz grab sample from McKenzie Island with visible sulphides — 2017 McKenzie Island grab sample grading 331.14 g/t Au

McKenzie Island best historical results
Year	Area / Operator	Result	Type
2017	Southwest McKenzie Island (Cypress)	331.14 g/t Au	Grab sample
Historical	Southwest McKenzie Island	212.8 g/t Au	Surface showing
2017	Northern shoreline	18.02 g/t Au	Grab sample
1937	MacAndrew vein	12.92 g/t Au over 0.6 m	Drilling
1962	Western McKenzie Island (Juma)	3.40 g/t Au over 0.7 m	Drilling
1986 – 1988	Dome Stock (Pure Gold – Noramco)	Up to 2.696 g/t Au	Sampling

Sources: Ontario assessment files 52N04SW0020, 52N04SW0026 and 52N04SW2068. Historical grab samples are selective and may not represent average grades. Historical drill intercepts are reported downhole lengths; true widths have not been established. The property has no current mineral resource estimate.

What Comes Next

Exploration & Development Agenda

Post-IPO plan: 2000 metres of Perch Zone definition drilling scheduled for spring/summer 2027

01
Continue Drilling Known Zones
Infill and extend the nearly 500 m of established strike, including below MK-21-019, where the hole was terminated while still in gold mineralization.
Define the known system
02
Chase the Perch Lake Trend
Explore and identify new zones across and beyond Perch Lake, along the trend interpreted from the 2021 drilling, where the system is untested.
Grow the footprint
03
Bank Data Toward a Resource
Compile drilling, assay and structural data to support a preliminary resource estimate on the St. Paul's Bay area. Two campaigns of assay and collar data are already in hand.
Toward a maiden estimate

These are planned objectives, subject to financing, permits and approvals. No mineral resource or mineral reserve has been estimated at McKenzie.