WORK HISTORY

Staked as Jack, Marg, etc. cl (84070) by Canadian Superior Exploration Ltd in Apr/65 on a Geological Survey of Canada stream sediment anomaly (Gleeson, 1965), and explored with soil sampling, mapping and hand trenching in 1965 and 1966 in a joint venture with United Keno Hill Mines Ltd. Canadian Superior performed additional trenching and detailed geochemistry in 1967. United Keno Hill tied on W cl 17-40 (84154) to the west in Mar/65 and performed geochemical sampling in 1965.

Restaked as Flash cl 1-36 (YA15282) in Jul/77 by Mountaineer Mines Ltd and Welcome North Mines Ltd and as Tudl cl 1-32 (YA76787) in Sep/82 by ZX-Sentinel Joint Venture (Chevron Canada Ltd, Saskatchewan Mining Development Corporation and Enterprise Exploration Ltd), which explored with mapping, geochemical sampling and trenching in 1982 and 1984. In 1986, All North Resources Ltd optioned a 66-2/3% interest in the property and performed soil sampling, hand trenching and VLF, magnetic, Max-Min and IP surveys. The remaining 33-1/3% interest is held by Saskatchewan Mining Development which changed its name to Cameco Corporation in 1989.

The All-North interest was sold to NDU Resources Ltd in 1987, which staked Marg cl 1-190 (YB02385) between July and Nov/88. During 1988 the company carried out prospecting, geological mapping, Max-Min and pulse-EM surveys, airstrip construction, road building and drilled 33 diamond drill holes (6 037.5 m) on the property. In 1989 NDU carried out geological mapping, VLF, mag and pulse-EM geophysical surveys, geochemical surveys and drilled another 5 diamond drill holes (1 819 m). In Jul/89 the company staked Marg cl 191-290 (YB03107) and in Jul/90 added Marg cl 291-370 (YB03606). NDU also drilled 10 diamond drill holes totaling 4 119.4 m on the property in 1990.

In Jan/96 NDU negotiated an option agreement to purchase Cameco's interest in the property. The agreement called for NDU to make a series of staged payments, totaling $750,000.00 over four years to Cameco. Upon completing the payments, NDU would own a 100% interest in the property. During 1996, NDU drilled 29 diamond drill holes (8 518 m), established a new grid on the property, and re-started a baseline water sampling survey originally begun in 1988.

In Jan/97 NDU released a new drill-indicated reserve estimate for the property and drilled 4 diamond drill holes (2 540 m) later in the year. The company also completed further soil sampling, water sampling, acid-base accounting tests and preliminary metallurgical tests on the property. In November and Dec/97 a winter bulldozer road was constructed from Keno City to the claim boundary.

In Mar/98 NDU merged with United Keno Hill Mines Ltd. United Keno envisioned placing the property into production using the Keno Hill mine site to process the ore. United Keno issued convertible debentures to Norvista Development Ltd (Norvista) and withdrew cash through a promissory note using their interest in the Marg property as collateral. United Keno encountered financial problems which caused it to default on the promissory note and ultimately forced the company into bankruptcy.

In Feb/2000 Atna Resources Ltd purchased United Keno's interest (66.7%) in the property following a court ordered sale of the property. Cameco retained its 33.3% interest in the property on account of United Keno’s default of NDU’s original option agreement. Shortly thereafter Cameco and Atna formed a joint venture to advance exploration on the property.
Exploration work during the 2000 field season consisted of geological mapping, soil sampling, prospecting, plus geochemical analysis and re-logging of previously drilled core.

In Sep/2004 Atna purchased Cameco's interest in the property, consolidating a 100% interest under Atna's sole ownership. Subsequently, in Mar/2005 Atna announced the sale of the Marg deposit to Yukon Gold Corporation Inc. Yukon Gold commissioned the preparation of an independent National Instrument 43-101 compliant report on the deposit which was released in Jun/2005.
 
In the fall of 2005 Yukon Gold drill 4 diamond drill holes (1 184.6 m) to test various portion of the deposit. During the 2006 exploration season the company drilled 9 additional diamond drill holes (2 987.9 m) and flew an airborne Versatile Time Domain Electromagnetic (VTEM) geophysical survey over the entire property.
 
On July 9, 2007 Yukon Gold released an updated mineral resource estimate for the Marg deposit. Following the release of the report the company soil sampled 7 separate grids located throughout the property and drilled 11 diamond drill holes (1 300.97 m).
 
In Jul/2008 Yukon Gold released an updated mineral resource estimate for the Marg deposit. During the 2008 field season the company collared 10 diamond drill holes (3 673.8 m) and carried out various metallurgical tests. 

In May/2009 Yukon Gold acquired a 100% interest in the Marg property. In mid-2010 the company experienced financial problems and on August 31 2010 obtained financing from Lance Capital Ltd in the form of a promissory note using the Marg property as collateral. On November 15, 2010 the company’s wholly owned subsidiary Yukon Gold Corp declared bankruptcy and went into receivership. Lance Capital subsequently acquired ownership of the Marg property.

On April 18, 2011 Copper Ridge Explorations Inc purchased a 100 % interest in the Marg property from Lance Capital subject to a series of staged payments. On May 31, 2011 Copper Ridge refinanced and changed its name to Redtail Metals Corp and released an updated mineral resource estimate for the Marg deposit. On November 5, 2012 Redtail Metals announced that they had made the final payment to Lance Capital to acquire a 100 % unencumbered interest in the Marg deposit.
 
On October 28, 2013 Redtail Metals and Northern Tiger Resources Inc announced their intention to merge, with Northern Tiger becoming the successor company. On November 30, 2013, as part of the merger, the companies released an updated mineral resource estimate for the Marg property. On December 17, 2013, Northern Tiger and Redtail Metals announced that the combined companies would purchase the Brewery Creek project (Minfile Occurrence #116B 160) and other assets from American Bullion Royalty Corp and change the combined companies name to Golden Predator Mining Corp. The merger between Northern Tiger and Redtail Metals was approved on February 24, 2014 and the name change to Golden Predator Mining was approved on April 17, 2014.
 
On March 16, 2015 Golden Predator optioned the Marg property to MinQuest Ltd (an Australian company) in return for cash, shares and certain work commitments. On October 6, 2015 MinQuest released a JORC compliant (Australasian Code for Reporting Results, Mineral Resources and Ore Reserves) updated mineral resource estimate for the Marg deposit. On November 25, 2015 the company released a scoping study based on the updated mineral resource estimate.
 
During the first quarter of 2016 MinQuest paid Golden Predator shares required to maintain the option agreement. On April 21, 2016 MinQuest terminated the option agreement and returned the Marg property to Golden Predator.
 
On July 21, 2016 Golden Predator sold the Marg property to Revere Development Corp for cash, shares and a 1 % Net Smelter Return (NSR) interest (date based on Yukon Government records). On August 31, 2016 Revere Development released a NI 43-101 compliant Preliminary Economic Assessment Technical Report and updated mineral resource estimate for the Marg deposit. 

CAPSULE GEOLOGY

The area lies near the north-central boundary of the Selwyn Basin, a predominantly off-shelf metasedimentary and metavolcanic sequence deposited west of ancestral North America. Regionally the area consists of three major tectonostratigraphic elements. These elements are, from north to south: Middle-Proterozoic shelf sequence carbonate rocks of the Wernecke Supergroup (that are unconformably overlain by Lower to Middle Paleozoic carbonate shelf sedimentary rocks); Late Proterozoic to Lower Cambrian off-shelf rocks of the Hyland Group and Devonian to Mississippian rocks of the Earn Group and Keno Hill Quartzite.

Three major fault structures control the geometry of the major stratigraphic units. The northern-most fault, the Dawson Thrust, separates off-shelf rocks of the Selwyn Basin (Keno Hill Quartzite, Earn Group and Hyland Group) from shelf rocks of the Wernecke Supergroup. The central Tombstone Thrust imbricates rocks of the Keno Hill Quartzite and the Earn Group, host of the Marg deposit (occurrence). The southern-most fault, the Robert Service Thrust carries rocks of the Hyland Group onto the Earn Group and Keno Hill Quartzite. Only the latter two structures are present in the vicinity of the occurrence.

Rocks in the area have been deformed by at least two and locally three, phases of deformation. The structures are generally composed of varying degrees of ductile and brittle deformation, compatible with the lower-to middle greenschist facies metamorphic grade of the region and vary depending upon proximity to the thrust faults. Deformation, metamorphism and imbrication of the varying stratigraphic units occurred during Jurassic to Early Cretaceous (190 to 120 million years ago).

The area around the occurrence has seen a fair bit of mapping activity in the past decade or so. Abbott (1990) mapped rocks surrounding the occurrence while Roots (1997a) carried out detailed mapping to the south, on map sheet 105M. During the 2000 field season, majority owner Atna Resources Ltd, re-mapped the property using information obtained from traverses, prospecting and re-logging of drill core. Atna tried to maintain consistency with maps used on existing geology maps.

The Marg property (occurrence) is primarily underlain by a thrust panel situated between the Robert Service and Tombstone thrust faults. This thrust panel consists of four stratigraphic/lithologic groups within the property boundaries. Although precise stratigraphic progression is difficult to determine due to extensive folding and faulting, the following description is based on the most recent data available. The oldest rocks are probably Late Precambrian to Early Cambrian Hyland Group siliciclastic metasedimentary rocks. In the Marg area, lithologies consist of dirty sandstones or greywackes, quartzo-felspathic grits, phyllite and minor carbonate and mafic volcanic rocks. The minor units, a thin relatively pure marble and a thin sequence of mafic volcanic rocks are distinctive in appearance and may be useful as marker horizons. The Hyland Group rocks on the property are typified by the presence of blue quartz grains, not observed in any overlying rocks and closely match the description of the Hyland Group provided by Gordey (1990) for the map area immediately south of the Marg property.

The next oldest group of rocks present on the property are three distinct sequences of metasedimentary and metavolcanic rocks, one of which is a 300 m thick, folded, succession that surrounds and hosts the Marg deposit. Most authors believe that these rocks are correlated with the Devonian to Mississippian age Earn Group, although lack of clear diagnostic features such as fossils or the chert-pebble conglomerate unit makes this correlation tentative. The three rock units are structurally, and probably stratigraphically interlayered with the Keno Hill Quartzite. The upper package (DMvs) of metasedimentary rocks consists of graphitic, argillaceous material with abundant intercalations of fine-grained volcaniclastic rocks and locally, thin carbonate lenses. The middle unit (DMps) is composed of black argillaceous rocks (graphitic schist). The lower unit (DMv) is a volcanic sequence composed of quartz- and feldspar-phyric tuffs and possible flows, fine-grained ash tuffs and related volcanic sedimentary rocks and massive sulphide mineralization.

The Mississippian age Keno Hill Quartzite is the next major stratigraphic unit reported on the property. The unit consists of black to dark-grey weathering (but light grey on fracture surfaces), homogeneous, fine- to medium-grained, "clean", quartz-rich (>90% quartz) rock, commonly containing 2 to 30 m thick intercalations of graphitic argillite and rare interbeds of metatuffaceous rocks. The quartzite is anomalously thick and laterally extensive within the Marg area commonly forming extensive lenses in excess of 100 m thick. A Mississippian age of the unit is indicated from fossil evidence at a number of localities in the Dawson area. Contacts between the quartzite in probable Earn Group rocks are commonly fractured due to rheological differences, however, unfractured (both gradational and sharp) contacts with argillite and tuffaceous rocks are observed within drill core, suggesting conformable relations with adjacent rocks on the Marg property.

Metasedimentary and metavolcanic rocks of the Keno Hill Quartzite and the Earn Group in the Marg map area are intruded by Triassic (?) diorite to gabbro dykes and/or sills. These rocks have an indicated Triassic age and within the Marg area, consist of mafic intrusive rocks typified by medium-grained, equigranular, euhedral shaped hornblende-plagioclase diorite to gabbro that locally contains porphyritic K-feldspar. In isolated locations, the gabbros have differentiated K-feldspar to plagioclase-rich margins that may indicate tops.

The Marg deposit is made up of a series of continuous to discontinuous sheets of massive and semi-massive sulphide mineralization. Up to eight sulphide sheets can occur on a single section although most of the mineralization occurs within four sheets. The deposit is considered a volcanic-associated massive sulphide deposit.

Sulphide mineralization occurs at or near, the contact between footwall volcaniclastic rocks and hanging wall argillaceous sediments. It is believed that the mineralized stratigraphy occurs within a refolded sheath fold that appears as an approximate "M" shape in cross-section. Minor folds, irregular stratigraphy, attenuation along isoclinal fold limbs, and foliation parallel to faults with minor displacement, further complicate the geometry. It is possible that the main sulphide sheets represent a single refolded sulphide lens, a theory supported by the metal ratios, which, although variable within a single sheet, do not display any statistical differences between the mineralized sheets, which might be expected if the sheets were separate stratiform deposits. The lower contacts of the sulphide host rocks are locally truncated by the quartzite unit and the contacts are marked by fracturing or narrow intervals of gouge, which has been previously interpreted as a local thrust fault, unrelated to regional thrust faulting.

Sulphide mineralization consists of pyrite, sphalerite, chalcopyrite, galena, tetrahedrite and arsenopyrite in a gangue of quartz, ferroan carbonate, muscovite and rare barite. Magnetite is notably absent. It is probable that sulphide textures have been modified by strain but composition layering on the millimetre to centimetre scale may be primary. Sulphide sheets are massive to semi-massive, with sharp, or less commonly, gradational, interlayered contacts. Alteration haloes of pervasive muscovite and carbonate are moderately developed and most conspicuous within the volcanic rocks. Black chlorite occurs locally, most notably near the up-dip footwall of the upper sheet. Because of the close proximity of the sulphide sheets, it is difficult to discern where the footwall alteration of one sheet ends relative to the hanging wall alteration of the adjacent sheet, or vice versa. Alteration is accompanied by enrichment in base metals as well as mercury, molybdenum, arsenic, silver, nickel, barium and manganese
 
A historical resource estimate was calculated by independent consultant J.P. Fransen in January 1997 (reported in assessment report #093832), using the polygonal method and a minimum 3 m true thickness from 135 drill intercepts in 76 holes. Fransen estimated a historical resource of 5 270 000 tonnes containing an average grade of 1.76 % copper, 2.46 % lead, 4.60 % zinc, 62.7 g/t silver and 0.98 g/t gold. Cut-off grade was based on (Can$) Net Smelter Return of $40.00/tonne. The resource is contained in parallel sheets within an area 700 m along strike and 450 m down-dip. The average thickness of the > 3 intersections is 6.0 m. The upper two sulphide horizons accounted for 82% of the resource.

In Mar/2005 Holbek (2005) calculated an updated mineral resource estimate to meet the new NI 43-101 regulations. It appears Holbek employed the same (Can$) Net Smelter Return of $40.00/tonne for the deposit’s cut-off grade. Holbek reported an Indicated Resource of 4 646 200 tonnes grading 1.8 % copper, 2.57 % lead, 4.77 % zinc, 65.08 g/t silver, and 0.99 g/t gold and Inferred Resource of 880 800 tonnes grading 1.55 % copper, 1.9 % lead, 3.75 %  zinc, 50.42 g/t silver and 0.95 g/t gold.

Yukon Gold’s 2005-06 drill programs were designed to test the limits of the deposit and verify earlier results. Yukon Gold used the results of their drilling program to calculate an updated mineral resource estimate. Unlike previous estimates which employed Nat Smelter Return values for the deposit’s cut-off, the July/2007 estimate employed a 1 % copper cut-off. Based on the 1 % copper cut-off, Indicated resources were reported at 1 720 000 tonnes grading 1.97 % copper, 2.4 % lead, 4.59 % zinc, 59.72 g/t silver and 0.95 g/t gold. Inferred resources were reported at 4 800 000 tonnes grading 1.81 % copper, 2.28 % lead, 4.64 % zinc, 54.47 g/t silver and 0.77 g/t gold (R. Carne and G. Giroux, 2007).
 
The 2007 VTEM helicopter survey outlined 16 ranked anomalies within areas underlain by prospective Earn Group rocks. Soil sampling tested the highest ranked anomalies. Diamond drilling carried out in 2007 tested the limits of the existing deposit and the 4 best geophysical/geochemical anomalies.
 
The July 2008 update mineral resource estimate incorporated the results of 4 diamond drill holes collared in 2007, which intersected mineralization. Yukon Gold incorporated a Net Smelter Return price of (CAN$) $70.00/tonne cut-off for the Indicated and Inferred resources. Indicated mineral resources increased to 4 710 000 tonnes grading 1.61 % copper, 2.05 % lead, 3.92 % zinc, 51 g/t silver and 0.85 g/t gold. Inferred resources decreased to 1 380 000 tonnes grading 1.28 % copper, 1.79 % lead, 3.78 % zinc, 42 g/t silver and 0.77 g/t gold.  Yukon Gold declared that the new resource estimate was not a material change from the 2007 resource estimate thus did not require the completion of a supporting NI 43-101 technical report.
 
The 2008 diamond drill program consisted of 6 holes collared to collect drill core for metallurgical testing and 4 holes collared to test the down-dip potential of the deposit and possible extensions of mineralization to the west. The four holes collared to test for mineralization did not intersect any significant mineralization.
 
Copper Ridge Exploration’s 2011 updated mineral resource calculation was released as part of a larger technical report prepared by the company for the purchase of the Marg deposit from Lance Capital. The technical reported summarized all known exploration and metallurgical results completed to date. The company employed a 0.50 % copper cut-off for their reserve calculations. Indicated resources totaled 3 960 000 tonnes grading 1.57 % copper, 1.92 % lead, 3.90 % zinc, 49.40 g/t silver and 0.79 g/t gold. Inferred resources totaled 7 780 000 tonnes grading 1.12 % copper, 1.36 % lead, 2.89 % zinc, 34.88 g/t silver and 0.52 g/t gold. Copper Ridge also published other resource calculations employing a range of copper and zinc cut-offs.

The merger of Redtail Metals (successor company to Copper Ridge) and Northern Tiger Resources triggered the preparation of a new NI 43-101 compliant technical report and updated mineral resource calculation. As no substantial work had been completed in the intervening years the report was similar to the 2011 report. The mineral resource calculation included in the 2013 technical report was the same one used in the 2011 technical report. The change in company name to Golden Predator Mining Corp did not trigger a new technical report on the property.

On October 6, 2015 MinQuest Ltd released a JORC compliant (Australasian Code for Reporting Results, Mineral Resources and Ore Reserves) updated mineral resource for the Marg deposit. JORC Code is derived from the Joint Ore Reporting Committee, an independent mineral industry body from Australian based industry professional associates while NI 43-101 code is derived from Canadian Securities Authorities. Although JORC Code mineral resource estimates are similar to NI 43-101 estimates and are routinely reported for Canadian exploration properties they are not NI 43-101 compliant.
 
MinQuest employed tighter sample selection criteria, a minimum of 2.0 % copper equivalent (CuEq) and a minimum of 2.0 m down hole widths to outline a high-grade domain. In addition the company outlined a low-grade domain which contained additional resources. Within the high-grade domain and using a 0.5 % copper cut-off, MinQuest calculated an Indicated mineral resource estimate of 3 700 000 tonnes grading 1.47 % copper, 1.98 % lead, 3.76 % zinc, 48 g/t silver, 0.76 g/t gold and a copper equivalent of 3.79 %. Inferred mineral resources were estimated at 5 500 000 tonnes grading 1.3 % copper, 1.81 % lead, 3.59 % zinc, 46 g/t silver, 0.79 g/t gold and a copper equivalent of 5.5 % . In the low-grade domain, and employing the same 0.5 % copper cut-off, the company identified an Inferred resource totaling 600 000 tonnes grading 0.63 % copper, 0.82 % lead, 1.54 % zinc, 22 g/t silver, 0.29 g/t gold and a copper equivalent of 1.59 %.
 
This estimate was calculated without conducting any new diamond drilling or other surface exploration. Readers need to refer to public documents MinQuest filed with the Australian Stock Exchange to understand the various methods used to calculate the mineral resource estimate (available on listcorp.com – Australian Stock Exchange).

MinQuest released their scoping study results on November 25, 2015. The company described it as a low-level technical and economic assessment and cautioned that “it was insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or provide certainty that the conclusions of the study would be realized”. The study was based on the previous month’s mineral resource estimate. The study identified a Base Case project Net Present Value of US$ 113 million dollars, an internal Rate of return of 29 % (per annum) and a Payback Period of 3.75 years assuming; copper = US$ 2.75/lb, lead = US$ 0.90/lb, zinc = US$ 1.00/lb, silver = US$ 17.00/ounce and gold = US$ 1,200/ounce (details available on listcorp.com – Australian Stock Exchange).
 
It appears that MinQuest had every intention of carrying out a substantial exploration program in 2016 (i.e. diamond drilling and surface exploration) as the company paid the 2016 option payment. In early 2016 the company suddenly changed corporate direct and decided to change to a smartphone app based company, leading to the cancellation of its option agreement with Golden Predator.

Revere Development Corp is led by several former employees of MinQuest Ltd. The technical report appears to repeat much of the work completed by MinQuest, with various revisions undertaken to meet NI 43-101 Standards.