Copper Mining Rights in Bom Jardim de Goiás

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The Bom Jardim de Goiás (GO) Copper Project is located in an area of 1,000 hectares south of the city of Bom Jardim de Goiás, in the extreme west of the state of Goiás, and corresponds to mining process nº 812.488/1974. The mineral research, carried out by CPRM in the 1970s, comprised 29 diamond drilling holes, totaling 6,725.40 meters drilled. On July 18, 1979, CPRM presented a positive final research report to the extinct National Department of Mineral Production – DNPM (succeeded by the current National Mining Agency). The report was approved by decision published in the Official Gazette of the Union on July 24, 1980. In 2017, CPRM hired specialized external consultancy (GE21 Consultoria Mineral) to carry out the economic evaluation of the asset and propose economic modeling for its negotiation. Inferred mineral resources are estimated to be in the order of 12.3 million tons, with an average content of 0.21% copper, 0.025 ppm cobalt and 122.26 ppm gold. According to the review, the mineable ore corresponds to approximately 3Mt at 0.57% Cu Eq, totaling 52kt of concentrate at 27% Cu Eq (approximately 21.6 million pounds of copper and 1.75 million pounds of cobalt), with an average waste-ore ratio (REM) greater than 4:1. Based on this geological data, the economic assessment report concluded that the project: a) presents positive economic indicators, although not very attractive; b) is not mature enough to be implemented, due to its current resource framework and technical and economic conditions, requiring additional research to be carried out to expand geological knowledge and enable a qualitative and quantitative increase in resources (exploration prospect ); c) its potential is still open and could become an exploration target of interest; It is d) presents ore-shoot occurrences (anomalies of high mineral content), which can increase the economic potential of the deposit as a whole. The Cobre Bom Jardim de Goiás project was qualified in the PPI by Decree No. 8,893, of November 1, 2016. The notice, its annexes and more information are available on the CPRM website. The CPRM asset auction was held on June 10, 2021, and the Bom Jardim de Goiás copper deposit received no proposals. On September 21, 2022, CPRM published a notice for a new tender for the asset. The auction was held on December 7, 2022 at the CPRM headquarters, with the company Axia Mineração as the winner, which offered a bid of R$2 million. The mining asset covers 1,000 hectares and presents detailed studies of mineralization and mineral resources. More information at: http://www.cprm.gov.br/publique/Noticias/Servico-Geologico-do-Brasil-assina-contrato-para-viabilizacao-do-deposito-de-cobre-em-Bom-Jardim- de-Goias-%28GO%29-7783.html