Bateman Gold

Operator: Evolution Mining Limited

Location: Ontario, Canada

Royalty: 1.0% NSR (all metals)

Term of Royalty: Life of Mine

The Bateman Gold Project (formerly Phoenix Gold) is an underground development project owned and operated by Evolution Mining Limited. The Bateman Gold Project is located in the southwestern part of Bateman Township within the Red Lake mining district of northwestern Ontario, Canada, approximately 150 km northwest of Dryden, Ontario, and 265 km northeast of Winnipeg, Manitoba.

The stratigraphy in the East Bay area, where the Bateman Gold Project is located, comprises rocks constituting the Balmer Assemblage: submarine tholeiitic basalt; komatiite and komatiitic basalt with minor felsic intrusive volcanic rock; iron formation; and fine‐grained clastic metasedimentary rocks. The local geology comprises a series of mine grid north-south trending, steeply dipping to sub‐vertical alternating panels of talc-altered komatiitic ultramafic flows (ultramafic) and biotite and silica altered basaltic mafic volcanic flows or titanium enriched flows (High‐Ti Basalt) that have been boudinaged to form elongated lenses. The ultramafic and High‐Ti Basalt units were intruded by dykes and sills of the felsic intrusive unit pre- to syn-mineralization.

The Bateman Gold Project consists of the high-grade F2 Gold Deposit.  Completed infrastructure includes a commissioned shaft and significant underground development, a 1,250 tonne per day mill facility, a tailings management facility, electric power supply and substation and 200-person camp.

On December 3, 2020, Battle North filed a National Instrument 43-101 Technical Report for the Bateman Gold Project Feasibility Study and reported a reserve of 3.563 million tonnes grading 5.54 g/t gold, containing 635,000 ounces of gold, associated with the F2 Gold Deposit. On January 28, 2021 Battle North filed an Updated National Instrument 43-101 Technical Report for the Bateman Gold Project.