Maturi Deposit - Updated Mineral Resource Estimate

"INTRODUCTION Twin Metals Minnesota (TMM) (operating as a joint venture between Duluth Metals and Antofagasta PLC) assumed control of the property in 2010. Amec became involved with the project in 2011 and in 2012 incorporated additional drilling in order to update historic resource estimates. The Maturi geological model and resource estimate was updated in 2014 to incorporate additional information obtained during 2013 and 2014 drill campaigns. In 2017, Amec was purchased by the Wood Group and is now known as Wood. Geology The Twin Metals Minnesota (TMM) Maturi, Maturi Southwest, Birch Lake, and Spruce Road properties are located in northeastern Minnesota (Figure 1). This talk discussed the Maturi deposit only, although all four deposits share similarities. The following geology is summarized from Peterson and Severson (2002).Maturi lies within the Superior Province of the Canadian Shield which is exposed in central and northeastern Minnesota and extends northward into Ontario. In eastern Minnesota, the Midcontinent Rift System developed during crustal scale extension in the Mesoproterozoic Era. The rift system is traceable, as exposures of mantle-derived tholeiitic to subalkaline mafic lava flows, intrusives, and rift-filling fluvial sedimentary rocks, and in the subsurface as a gravity anomaly (high), from the eastern end of Lake Superior, arcing west across the lake basin, and extending south-southwest to northeastern Kansas. Intrusion of the Duluth Complex, circa 1,108 - 1,099 Ma, was related to rifting and is co-genetic with the North Shore Volcanic Group mafic volcanic rocks that form the hanging wall of the Duluth Complex to the east. Cu-Ni-precious metals (PM) mineralization including Pt, Pd, Au and Ag within the Duluth Complex is hosted by mafic to ultramafic intrusive rocks that are part of the overall intrusive complex. The Duluth Complex is defined as a more or less continuous mass of mafic to felsic plutonic rocks that extends northeastward for more than 170 miles (275 km) in an arcuate fashion from Duluth nearly to Grand Portage in Minnesota. It is bounded by a footwall of Paleoproterozoic sedimentary rocks and Archean granite-greenstone terranes (Peterson and Severson, 2002), and a hanging wall largely of comagmatic anorthosite, rift related flood basalts, and hypabyssal intrusions of the Beaver Bay Complex. Mineralization is hosted in the basal mineralized zone (BMZ) of the South Kawishiwi Intrusion (SKI). The SKI magmas intruded sub-horizontally between hangingwall Anorthositic Series (AN) rocks and footwall granitic rocks of the Neoarchean Giants Range batholith (GRB). The Maturi local geology and the deposit footprint (shaded orange) is shown in Figure 2."