GoldUSD 1,255.40
SilverUSD 16.69
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Mirado Royalty

Summary:

The Mirado gold project is located 35 km southeast of the gold mining Town of Kirkland Lake in northeastern Ontario. The entire Mirado property encompasses 5,800 acres. The focus of the Mirado Gold Project consists of 12 contiguous patented claims, with surface and mining rights, owned 100% by Orefinders. Gold on the Mirado Gold Property was first discovered in the early 1920’s and later mined by underground methods to a depth of 500′ in the 1940’s. Since then several exploration programs, diamond drilling campaigns, (Over 40,000m) and underground and open pit mining activities have taken place. There currently is a 442k inferred resource.

Agreement:

  • 2% NSR capped at $1M CAD
  • Right to buy additional 1% NSR for life of mine for $2M CAD up till commercial production is declared
  • ROFR on stream financing

Location: Kirkland Lake, Canada

Project Status: Pre-feasibility

Counterparty: Orefinders Resources (ORX:TSXV)

Resource: 442,000 ounces Au Inferred

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Royalties

Hoyle Pond
West Timmins
DeSantis
Mirado

The Mineral Resource Statement for the open pit, underground, and three stockpiles is presented in Table 1.

Table 1: Mineral Resource Statement*, Mirado Gold Project, Ontario, SRK Consulting (Canada) Inc., November 18, 2013

 Quantity  Grade  Contained Metal  Cut-off Grade
 Classification/ Zone Inferred  (000 tonnes)  Gold (gpt)  Gold (000ounces)  (gpt Gold)
 Open pit  9,927 1.18  376.6  0.45
 Underground  669  2.90  62.4  2.00
 Northern Pile **  12  4.71  1.8  2.00
 Central Pile **  4  5.38  0.7  2.00
 Southern Pile **  5  2.74  0.4  2.00
 Total Inferred  10,618  1.29  442.0