$PGLC / $T.PGLC This PFS has calculated Proven and Probable reserves for the deposit based on the estimated resources that have an effective date of November 1, 2016 . A designed PFS three-phase pit contains the Measured and Indicated material shown in Table 3, which constitute the reserves for the property using a gold price of $1,250 per ounce, a cutoff grade of 0.005 ounces per ton ("opt" Au, and the detailed mine economics outlined in the PFS. In addition, a silver reserve grade can be reported for a portion of the deposit shown in Table 4 below.

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