T ECHNICAL R EPORT ON THE C ERRO H ERMOSO G OLD -P OLYMETALLIC P - PDF document

N ATIONAL I NSTRUMENT 43-101 T ECHNICAL R EPORT ON THE C ERRO H ERMOSO G OLD -P OLYMETALLIC P ROPERTY Department of Puno, Peru Prepared for: Miramont Resources Corporation 1026 Belmont Avenue North Vancouver, B.C. V7R 1K2 Prepared by Qualified Person: Steven L. Park, C.P.G. Effective Date: May 31, 2017

TABLE OF CONTENTS 1.0 SUMMARY .............................................................................................................................. 7 1.1 Introduction ............................................................................................................................... 7 1.2 Definition and Tenure of Cerro Hermoso Property .................................................................. 8 1.3 Regional and Property Geology ................................................................................................ 9 1.4 Property Mineralization .......................................................................................................... 10 1.5 Exploration History ................................................................................................................. 12 1.6 Conclusions ............................................................................................................................. 12 1.6.1 Exploration Targets .......................................................................................................... 13 1.6.2 Property Merits and Risks ................................................................................................ 13 1.7 Recommendations ................................................................................................................... 14 1.7.1 Disseminated Au-Ag, Cerro Hermoso Target .................................................................. 14 1.7.2 Vein Systems Target ......................................................................................................... 14 1.7.3 Carbonate Replacement Deposit Target ........................................................................... 15 1.7.4 Proposed Budget for Continued Exploration.................................................................... 15 2.0 INTRODUCTION ...................................................................................................................... 16 2.1 Purpose of Report ................................................................................................................... 16 2.2 Definition of Property ............................................................................................................. 16 2.3 Sources of Information ........................................................................................................... 17 2.4 Terms of Reference ................................................................................................................. 17 3.0 RELIANCE ON OTHER EXPERTS .......................................................................................... 18 4.0 PROPERTY DESCRIPTION AND LOCATION ....................................................................... 18 4.1 Location .................................................................................................................................. 18 4.2 Mining Concessions ................................................................................................................ 19 4.3 Puno Gold Option Contract .................................................................................................... 21 4.4 Exploration Permits and Surface Rights ................................................................................. 21 4.4.2 Puno Gold Exploration Permits ........................................................................................ 22 4.4.3 Surface Rights Agreements .............................................................................................. 22 4.5 Environmental Liabilities ........................................................................................................ 23 5.0 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPY ................................................................................................................................ 25 5.1 Property Access ....................................................................................................................... 25 Miramont Resources Corporation Technical Report on the Cerro Hermoso Gold-Polymetallic Property, Peru Page ii

5.2 Climate and Physiography ...................................................................................................... 25 5.3 Local Resources and Infrastructure ........................................................................................ 26 6.0 HISTORY ................................................................................................................................... 27 6.1 Santa Lucia District ................................................................................................................. 27 6.2 Santa Barbara Mine ................................................................................................................. 28 6.3 Property-wide Exploration and Investigations ........................................................................ 29 7.0 GEOLOGIC SETTING AND MINERALIZATION .................................................................. 31 7.1 Regional Structural Setting ..................................................................................................... 31 7.2 Regional Geologic History ..................................................................................................... 32 7.3 Project Area Geology .............................................................................................................. 33 7.3.1 Cretaceous Sediments ....................................................................................................... 33 7.3.2 Tertiary Sediments and Volcanics .................................................................................... 34 7.4 Project Area Structural Setting ................................................................................................ 41 7.5 Project Area Mineralization .................................................................................................... 43 7.5.1 Carbonate – Base Metal Veins ......................................................................................... 43 7.5.2 Diatreme-hosted Au-Ag ................................................................................................... 44 7.5.3 Carbonate Replacement Deposit ...................................................................................... 46 8.0 DEPOSIT TYPES ....................................................................................................................... 47 8.1 ISE Carbonate-Sulfide-(Quartz) Veins .................................................................................... 47 8.2 Polymetallic Mineralization Associated with Breccia Pipes .................................................. 48 8.3 Carbonate Replacement Deposits ........................................................................................... 50 8.4 Deposit Models as Guide to Property Exploration ................................................................. 51 9.0 EXPLORATION ......................................................................................................................... 53 9.1 Puno Gold’s Current Exploration Program ............................................................................. 53 9.2 Summary of Previous Investigations ...................................................................................... 53 9.2.1 Minsur S.A. (1967-1990).................................................................................................. 53 9.2.2 Teck Resources Ltd. (2012).............................................................................................. 54 9.2.3 Sears, Barry, & Associates (2012).................................................................................... 54 9.2.4 Silver Standard (2015) ...................................................................................................... 54 9.2.5 Empresa Minera Kcoriwasi S.A.C. (2011-2016) ............................................................. 55 10.0 DRILLING ................................................................................................................................ 59 11.0 SAMPLE PREPARATION, ANALYSIS AND SECURITY .................................................... 59 12.0 DATA VERIFICATION ............................................................................................................ 60 Miramont Resources Corporation Technical Report on the Cerro Hermoso Gold-Polymetallic Property, Peru Page iii