Properties

Highlights

• Target: Copper/Gold porphyry mineralization
• JV between Cornerstone (15%) and SolGold (85%) - subject to SolGold funding 100% through BFS
• Cornerstone also owns ~9.22% of SolGold, or ~23% interest (direct & indirect) in Cascabel
• Alpala deposit updated Mineral Resource Estimate (MRE)² reports 2.05 Bt @ 0.60% copper equivalent ("CuEq") (8.4 Mt Cu, 19.4 Moz Au) Indicated, plus 900 Mt @ 0.35% CuEq (2.5 Mt Cu, 3.8 Moz Au) Inferred, including:
• High grade core of 400 Mt @1.49% CuEq (3.6 Mt Cu, 11.9 Moz Au) Indicated plus 20 Mt @ 1.05% CuEq (0.2 Mt Cu, 0.4 Moz Au) Inferred
• MRE reported using a cut-off grade of 0.2% CuEq, reflecting the reasonable potential for economic extraction by high production rate mass mining methods such as block caving.
• Potential for further growth with the 2019 drilling campaign to continue to expand the deposit at Alpala SE, Alpala NW, Trivinio and Alpala Western Limb.
• The Alpala MRE update was estimated from 68,173 assays, with 66,739 assays representing diamond drill core samples, and 1434 assays representing rock-saw channel samples cut from surface rock exposures. Drill core samples were obtained from total of 133,576m of drilling comprising 128 diamond drill holes, including 75 drill holes (Holes 1-75), 34 daughter holes, 8 redrills, and 11 over-runs, and represents full assay data from holes 1-67 and partial assay data received from holes 68 to 75. Rock-saw samples were obtained from 2743m of rock-saw cuts from 262 surface rock exposure trenches. In contrast, the Dec 2017 Maiden MRE was estimated from 26,814 assays obtained from 53,616m of drilling comprising 45 drill holes (Holes 1-33) including 10 daughter holes and 5 redrills.

• Table 1: Overall Mineral Resource Statement for the Alpala Copper-Gold Deposit, effective November 7, 2018
• The MRE update is reported using a cut-off grade of 0.2% copper-equivalent (CuEq) which joint venture partner and project operator SolGold and SRK Consulting (which audited the MRE update) consider to be reasonable, reflecting the potential for economic extraction by high production rate mass mining methods such as block caving. The central portions of the deposit present an opportunity for early extraction of higher-grade material.
• See News Releases:
• 18-30 - Alpala Mineral Resource Estimate Update - Indicated Resource of 2.1 Bt @ 0.6% CuEq (8.4 Mt Cu, 19.4 Moz Au) including 400 Mt @1.49% CuEq (3.6 Mt Cu, 11.9 Moz Au)

Details
Funded by joint-venture partner SolGold Plc and targeting porphyry copper-gold deposits, the Cascabel property in northern Ecuador has been the focus of a drilling campaign that produced results indicating the discovery of a large gold-enriched copper porphyry system.

Exploraciones Novomining S.A. ("ENSA"), an Ecuadorean company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold's fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.

The Cascabel property is underlain by Upper Cretaceous sedimentary rocks which are overlain by Oligocene to Miocene andesitic flows and breccias. These units are intruded by Miocene age granodiorite and diorite batholiths and stocks. Major regional tectonic structures in the area strike northeast. One such structure, the Apuela regional fault, transects the southeast part of the Cascabel property. Several mineral prospects which are hosted in the same geological belt, have been identified in the Cascabel district including the Chical (Au-Ag) and Rio Amarillo (Au-Ag-Cu) epithermal prospects located 12 km to the northwest and 12 km to the south of the property respectively. Cascabel is located upstream from an extensive alluvial gold district, Playa de Oro, located 50 km to the west. Alpala MRE Technical Report Update

Maps

Regional Map	Infrastructure Map	Development Proposal
Cascabel Targets	Cascabel Drilling	Cascabel CSD-16-016 Core Images
Cascabel CSD-16-017 Core Images	Cascabel CSD-16-15R2 Core Images	Cascabel CSD-16-016 Core Images
Cascabel CSD-16-016 Core Images	Cascabel CSD-16-017 Core Images	Cascabel Drill Intercept Table

Photos

General Topography	Gold Panning	Cross-cutting quartz-chalcopyrite-pyrite veinlets	Malachite along fractures

^{* Mr. Martin Pittuck, MSc, CEng, MIMMM, is responsible for the Mineral Resource Estimate and is an "independent qualified person" as such term is defined in NI 43-101.}