26 unchanged sentences
The Project lies within the Tolovana Mining District in the northern part of the Tintina Gold Belt.
−Removed: The Company owns a 100% interest in the Livengood Gold Project and the Company’s primary focus is to develop the Project with the objective of achieving commercial production.
−Removed: The Company’s book value of its investment in the Livengood Gold Project is $55,375,124 as of December 31, 2024.
Property Description and Location
Location of the Livengood Gold Project
+Added: The Company owns a 100% interest in the Livengood Gold Project and the Company’s primary focus is to develop the Project with the objective of achieving commercial production.
+Added: The Company’s book value of its investment in the Livengood Gold Project is $55,375,124 as of December 31, 2025.
Accessibility, Climate, Local Resources, Infrastructure and Physiography
12 unchanged sentences
Annual precipitation is approximately 40 cm (16 inches).
−Removed: Average low temperatures in winter are -21° to -28° Celsius (-6° to -18° Fahrenheit), with records reaching as low as -55° Celsius (-67° Fahrenheit).
+Added: Average low temperatures in winter are -21° to -28° Celsius
+Added: (-6° to -18° Fahrenheit), with records reaching as low as -55° Celsius (-67° Fahrenheit).
Exploration work on the Livengood Gold Project can be limited due to excessive snow cover and cold temperatures.
50 unchanged sentences
A net smelter return (“NSR”) production royalty of between 2.5% and 5.0% (depending upon the price of gold) is payable to the lessor with respect to the lands subject to this lease.
−Removed: In addition, an NSR production royalty of l% is payable to the lessor with respect to the unpatented federal mining claims subject to the lease described in the Hudson/Geraghty Lease below and an NSR production royalty of between 0.5% and 1.0% (depending upon the price of gold) is payable to the lessor with respect to the lands acquired by the Company as a result of the purchase of Livengood Placers, Inc.
+Added: In addition, an NSR production royalty of 1% is payable to the lessor with respect to the unpatented federal mining claims subject to the lease described in the Hudson/Geraghty Lease below and an NSR production royalty of between 0.5% and 1.0% (depending upon the price of gold) is payable to the lessor with respect to the lands acquired by the Company as a result of the purchase of Livengood Placers, Inc.
in December 2011.
103 unchanged sentences
In addition, a number of larger (+10 m thick) steeply dipping North-North-West-trending dikes were observed, suggesting that East-North-East extension may have occurred at about the time of dike magmatism.
−Removed: The RC holes were primarily targeted at grid infill drilling to improve resource estimation of the Core Zone and a step-out program that led to discovery and delineation of the Sunshine and Tower Zones.
+Added: The RC holes were primarily targeted at grid
+Added: infill drilling to improve resource estimation of the Core Zone and a step-out program that led to discovery and delineation of the Sunshine and Tower Zones.
In 2010, the Company completed 40 diamond drill holes totaling 13,631 m and 198 RC holes totaling 56,550 m.
103 unchanged sentences
Technical Report Summary (“TRS”)
−Removed: The Company has a 100% interest in the Livengood Gold Project, which as of December 31, 2024, has proven and probable reserves of 430.1 million tonnes at an average grade of 0.65 g/tonne (9.0 million ounces) based on a gold price of $1,680 per ounce and measured and indicated mineral resources, exclusive of mineral reserves, of 274.51 million tonnes at an average grade of 0.52 g/tonne (4.62 million ounces), based on a gold price of $1,650 per ounce, both as reported in the TRS attached as Exhibit 96.1 to the 2022 Annual Report on Form 10-K/A filed with the SEC on October 17, 2023.
+Added: The Company has a 100% interest in the Livengood Gold Project.
+Added: As of December 31, 2025, the Livengood Gold Project has (i) proven and probable reserves of 430.1 million tonnes at an average grade of 0.65 g/tonne (9.0 million ounces) based on a gold price of $1,680 per ounce and (ii) measured and indicated mineral resources, exclusive of mineral reserves, of 274.51 million tonnes at an average grade of 0.52 g/tonne (4.62 million ounces), based on a gold price of $1,650 per ounce, in each case as reported in the TRS attached as Exhibit 96.1 to the 2022 Annual Report on Form 10-K/A filed with the SEC on October 17, 2023.
The TRS details a project that would process 65,000 tons per day and produce 6.4 million ounces of gold over 21 years from a gold reserve estimated at 9.0 million ounces at 0.65 g/tonne.
−Removed: The study utilized a third-party review by Whittle Consulting and BBA Inc.
+Added: The TRS utilized a third-party review by Whittle Consulting and BBA Inc.
to integrate new interpretations based on an expanded geological database, improved geological modelling, new resource estimation methodology, an optimized mine plan and production schedule, additional detailed metallurgical work at various gold grades and grind sizes, changes in the target grind for the mill, new engineering estimates, and updated cost inputs, all of which significantly de-risk the Project.
13 unchanged sentences
The Qualified Person for the mineral resource estimate is Resource Development Associates Inc.
−Removed: The effective date of the estimate is August 20, 2021 and the estimate remains current as of December 31, 2024.
+Added: The effective date of the mineral resource estimate is August 20, 2021 and the estimate remains current as of December 31, 2025.
Mineral resources for the Project are enumerated as per §229.1302(d)(1)(iii)(A) (Item 1302(d)(1)(iii)(A) of Regulation S-K).
21 unchanged sentences
Eng., of BBA USA Inc.
−Removed: The effective date of the estimate is October 22, 2021 and the estimate remains current as of December 31, 2024.
+Added: The effective date of the mineral reserve estimate is October 22, 2021 and the estimate remains current as of December 31, 2025.
Mineral reserves for the Project are enumerated as per added §229.1302(e)(2) (Item 1302(e)(2) of Regulation S-K).
10 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.