• Multiple quartz tourmaline breccia bodies with up to 800m vertical extent
• Primary Cu-Ag-Mo with Zn, Pb and W
• Initial open pit resource estimate:

• 2 year plan to drill 6,000m targeting high-grade resource expansion at depth

Location

Located southeastern Sonora State in northern Mexico, 180km southeast of Hermosillo city. Accessible by public roads.  The project area has excellent infrastructure with road access from several directions, two options for 3-phase power within 2 km and access to water 4 km away

Geology

The Yecora project located in the Laramide copper belt that extends from Arizona into northwestern Mexico, consists of multiple tourmaline breccia bodies carrying copper-silver-molybdenum mineralization, and high-grade copper-silver veins. Yecora deposit is at the intersection of two breccia body trends. These breccia bodies are exposed in a window within a post-mineral rhyolite package, which is correlated with a calc-alkaline volcanic sequence of the Upper Volcanic Supergroup. Normal faults with a strike of N35W are associated with tectonic extension and are reflected in the current topography.

Mineralization is considered to be intrusive associated silver with base metal zones and minor gold along the edges and tops of the system. Most drilling has focused on the best metals-rich targets and not the gold rich part of the system.

The Yecora mineralization is similar to the Los Pilares mine of Nacozari, Sonora mined over a 700-800 meter vertical extent and other smaller known breccia bodies in this region of Mexico. The mineralization is also similar to the large Toquepala mine in Peru. Quartz and tourmaline cemented breccia bodies have been identified within an area of ten square kilometers. Single breccia bodies can be traced over one kilometer long and up to 200 meters wide.

Work Program

Four identified targets:

• Extend high grade at depth up to 1km vertical
• Resource expansion testing 2 other breccia bodies
• Resource expansion of narrow high-grade veins
• Metal rich skarn at depth on edge with Cu porphyry

Based on the August 2023 NI 43-101 Recommendations

Phase 1:

• Up to 6,000 meters of drilling focusing on extending high grade conversion and expansion at depth
• Geophysics (IP and Resistivity) to define breccia body and identify fault offsets
• Update resource model