Resources

Group Ten announced the inaugural NI 43-101 mineral resource estimate for the Stillwater West critical minerals project in a news release dated October 21, 2021. The full report is available on the Company’s profile on www.sedar.com.

  GRADE - Sensitivity at Various Cut-Off Grades
CUT-OFF GRADE Base & Battery MetalsPlatinum Group & Precious MetalsTOTALTOTAL
NiEqPdEqTONNAGENiCuCoNiEqPtPdAuRh4ENiEqPdEq
%g/tMT%%%%g/tg/tg/tg/tg/t%g/t
0.15 %0.40168.70.190.100.020.300.150.250.060.0120.470.441.17
0.20 %0.53157.30.200.100.020.310.150.260.060.0120.480.451.20
0.25 %0.67140.60.220.110.020.330.160.280.060.0130.510.481.28
0.30 %0.80120.50.230.120.020.350.170.300.070.0130.550.511.36
0.35 %0.9397.10.250.130.020.370.170.320.080.0130.580.551.47
0.40 %1.0774.30.270.150.020.400.180.340.090.0130.620.601.60
0.50 %1.3342.00.340.190.020.490.190.380.100.0130.680.711.89

 

CUT-OFF GRADE CONTAINED METAL - Sensitivity at Various Cut-Off Grades
   Base & Battery MetalsPlatinum Group & Precious MetalsTotalTotal
NiEqPdEqTONNAGENiCuCoTotalPtPdAuRh4ENiEqPdEq
%g/tMTMlbsMlbsMlbsMlbsKozKozKozKozKozMlbsKoz
0.15 %0.40168.7707372741,1538131,356325652,5591,6376,364
0.20 %0.53157.3694347691,1107581,314303612,4361,5616,068
0.25 %0.67140.6682341621,0857231,265271552,3141,4885,786
0.30 %0.80120.5611319539836581,162271482,1391,3555,268
0.35 %0.9397.153527843857530999249401,8181,1784,580
0.40 %1.0774.344224633720429811214311,4859823,819
0.50 %1.3342.031517619510256513135179216582,558

CIM (2014) definitions were followed for Mineral Resources Reporting. The constrained Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Cut-off grades and metal equivalents are based on metal prices of $7.00/lb Ni, $3.50/lb Cu, $20.00/lb Co, $900/oz Pt, $1,800/oz Pd and $1,600/oz Au, with assumed metal recoveries of 80% for Ni, 85% for copper, 80% for Co, Pt, Pd and Au, a mining cost of US$2.20/t rock, and processing and G&A cost of US$12.75/t mineralized material. Rhodium modeled but not included in equivalency calculations. All figures are rounded to reflect the relative accuracy of the estimate.

The current Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, based on the current knowledge of the deposits, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

Constrained Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Values in the table reported above and below the cut-off grades should not be misconstrued with a Mineral Resource Statement. The values are only presented to show the sensitivity of the block model estimates to the selection of cut-off grade. All figures are rounded to reflect the relative accuracy of the estimate. Composites have been capped where appropriate.

 

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