TSX-V: MUR

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Reserves and Resources

Brabant-McKenzie Deposit NI 43-101 Resource Estimate

The resource for the Brabant-McKenzie Deposit was estimated on the basis of:

  • Drilling results to March 24, 2018 from 19 drill holes and include historical diamond drilling used in the previous NI-43-101 resource estimates completed in 2008 and 2017
  • US$ metal prices of $1.20/lb Zn, $2.50/lb Cu, $1.00/lb Pb, $16.00/oz Ag and $1200/oz Au
  • CDN$:US$ exchange rate of $1.20
  • An NSR cut-off of $90/tonne or 3.5% Zn equivalent based on above metal prices
  • Average metallurgical and payable recovery of 75% was used for all metals underground mining and milling
  • Indicated Resources were calculated using a two-hole minimum and a maximum distance of 60 m from a diamond drill hole
  • Inferred Resources were calculated using a no hole minimum and a maximum distance of 200 m from a diamond drill hole
  • The Resources were also manually reviewed and adjusted to take into consideration drill intercepts from previous operators’ drill programs in the areas of drilling carried out by the Company
  • As much as possible a 2-meter intercept minimum was used but was not strictly adhered to
  • 138 drill holes used in the calculation and which were used to model two mineral lens

The September 4, 2018 NI 43-101 Mineral Resource Estimate for the Brabant-McKenzie Deposit has been prepared by independent qualified person (“QP”) Finley Bakker, P.Geo., and has an effective date of September 4, 2018.

The September 4, 2018 Mineral Resource Estimate tonnage has been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding.

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves.

The September 4, 2018 Mineral Resource Estimate was classified into Indicated or Inferred categories in accordance with the CIM Definition Standards on Mineral Resources and Reserves (CIM Definition Standards) adopted by CIM Council on May 10, 2014.

The September 4, 2018 NI 43-101 Mineral Resource Estimate for the Brabant-McKenzie Deposit is filed on Sedar.

Qualified Persons

  • Finley Bakker P. Geo.
  • Martin St. Pierre P. Geo.

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