The JT Deposit hosts an Indicated Resource of 3.489 Mt grading 9.39 g/t gold equivalent (“AuEq”) comprised of 5.33 g/t Au, 6.0 g/t Ag, 0.56% Cu, 0.67% Pb and 5.21% Zn. The Inferred Resource of 0.706 Mt grading 4.76 g/t AuEq is comprised of 1.36 g/t Au, 9.1 g/t Ag, 0.59% Cu, 0.30% Pb, and 4.18% Zn.

The high-grade Indicated Resource forms an average 40-m thick sub-vertical, tabular structure highly amenable to low-cost, bottom-up, bulk underground mining techniques. This exceptional width is 10x that of high-grade (>5 gpt AuEq) peers.

Locked cycle flotation tests yielded very high-quality copper, zinc, lead and gold concentrates produced at a coarse primary grind with very good metal recoveries, low impurities, and negligible penalty elements. Highlights include:

• Gold recovery of 97.2% combined total of payable gold to concentrates and leaching of tails.
• Zinc recovery of 92.3% to a concentrate grading 52.6% zinc.
• Copper recovery of 84.5% to a concentrate grading 30.6% copper.
• Lead recovery of 72.4% to a concentrate grading 62.1% lead.
• Gold pyrite concentrate grading 64.3 g/t gold.
• Coarse primary grind size of 125 microns.

The JT Deposit is interpreted as an intermediate sulfidation epithermal deposit with volcanogenic massive sulfide (VMS) characteristics. Mineralization at the main JT Deposit forms a tabular silicified body that contains a stockwork of quartz-sulphide veins and breccia surrounded by a widespread zone of anhydrite-chlorite alteration, outboard to a widespread zone of pyrite-sericite alteration. Drilling has defined silicification and mineralization from surface to a vertical depth of approximately 350 meters, over a total strike length of over 600 meters, and to a maximum true width of 60 meters.

The JT Deposit is truncated to the southeast by the northeast striking, 5–10 m Dacite Fault. The hanging wall to the Dacite Fault is relatively unaltered quartz-feldspar porphyry, suggesting that part of the deposit has been offset. This offset remains a priority exploration target.

HighGold continues to grow and build value at the JT Deposit, which is open in multiple directions, while also advancing engineering, technical studies, and permitting in support of advanced exploration and evaluation. These include designs and permitting for an expanded airstrip to accommodate aircraft that can carry large equipment, underground access to the base of the current JT deposit to both expand and upgrade the resource, and a road to a barge landing site at the coast.

Resource Estimate