The Last Hope Property is located approximately 23 km south-east of the town of Lynn Lake in northern Manitoba, Canada. The Property is approximately centered at latitude 387,000 E and longitude 6,283,000 N and is located approximately 810 km northwest of Manitoba’s capital and largest city, Winnipeg. The Last Hope Property is adjacent to Alamos Gold’s Burnt Timber Property.
The Last Hope Property comprises 15 claims covering an area of 3,513 ha. The Company has an option agreement in place to acquire 100% of the Last Hope Property, subject to a 2% NSR royalty. The fifteen Last Hope claims (3,513 ha) have an annual total of $87,825 ($25/ha) due at various anniversary dates throughout the year. All claims are in good standing.