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Dill River Property


In September 2016, the Company entered into an option agreement (the “Agreement”) to acquire a 100% interest, subject to a 2% Net Smelter Royalty, in the 39 claim unit Dill River gold property (the “Property”) located 7 kilometers east of the town of Wawa, Ontario. The Company may earn its interest in the Property by paying an initial consideration of $3,000 and 200,000 common shares of the Company upon receipt of TSX Venture Exchange (“TSXV”) approval of the agreement (the “Acceptance Date”); and making additional optional payments of $10,000 and 100,000 common shares on the first anniversary of the Acceptance Date; $17,000 and 100,000 common shares on the second anniversary of the Acceptance Date; and $20,000 and 100,000 common shares on the third anniversary of the Acceptance Date.

The Dill River gold property is contiguous to the eastern boundary of Red Pine’s Surluga property and generally covers the same local geology as the Company’s Norwalk property and Red Pine Exploration Inc.’s Surluga property.