Maun Lake Area - Kowkash/Tashota Belt – 40km north of Nakina

Over the last six years, Field Exploration Geologist Rand Hodgson and his crews have identified a
broad regional-scale mineralized deformation zone characterized by surface-exposed fault breccias. This
discovery was previously unidentified and remains virtually unexplored. Notably, gold occurrences are concentrated
in an area of approximately 200m x 200m.

• Background sulfide mineralization is approximately 3-5%
• 15+ separate new gold occurrences up to 32 gpt in grab sample
• 2019 channel sample of 8.8 gpt across 3 meters in sericitized rhyolite
• Three new 9 g/t samples in a new oblique n/s structure 4-6 m wide
• Steady >5% sulphides in mineralized fault breccia showing 1-2 g/t
• 1-2 g/t Au from several lithologies including felsic porphyry
• It took only ten days to find ten separate and distinct gold showings

The mineralized zone has confirmed dimensions of 500 m x 4000 m and is open in both strike dimensions.
Gold mineralization of more than 1 g/t has been found in a wide variety of lithologies throughout the Maun
deformation zone (“DZ”) including chemical sediments (chert), quartz feldspar porphyry (“QFP”), rhyolite,
massive sulphides and mafic and felsic breccias. 2019 fieldwork extended observed mineralization up to
800m across strike.

The Osulak Peninsula north of O’Sullivan Lake was incompletely mapped. During the past five years, WFE
crews identified and mapped - for the first time – a very wide surface occurrence (at least 500m x 4000m)
featuring fault breccia with steady 5-10% sulphides and numerous gold occurrences up to 32 g/t. High grade
gold occurs primarily in multiple schistose sericite gossans showing approximately 1-2m of width and open
along strike. There is also evidence of previously unknown iron formations collected in surface “float”. Gold-bearing
quartz veins, the most common historical source of mill rock and localized high-grade gold in NW
Ontario, are less common.

Historical work: In 1955, New Athona dug five 100m trenches and drilled approximately 1000 feet in 5 tightly spaced
locations south of Hurd Lake. Hole #S-1 reported 0.428% Cu. across 51 feet including a higher-grade interval
of 0.769% across 16 feet. Hand-written records identify “300,000 tons of [copper] reserves”. No record of
gold assays. In 2017 Hodgson picked a 55 g/t gold grab sample from one of these trenches. Follow up work
produced steady results of about 0.4 g/t Au, 0.7% Cu and 20 g/t Ag. These rocks are tentatively identified as
a gold, copper and silver-enriched VMS  surface showing, about 75m x 75m in area.

In 1968, Lacana reported a 14 g/t Au surface grab 2km NE of New Athona, about halfway to the Warren
nickel and copper occurrence, an AMIS site located near the regional Hurd Lake fault. Fieldwork has been
unable to physically locate the Megan, which is very well documented in Ministry files. The search itself
facilitated the discovery of mineralized “fault breccia” all along the trend. If this breccia is associated with the
Hurd Lake regional fault to the north, major structural control could help better understand patterns of gold deposition along the SW/NE corridor.

 

The mineralized breccia hosts high-grade gold up to 32 g/t in seriticized rhyolite gossans.  Documented Au showings occur in at least five rock formations; mafic and felsic breccia, porphyry, rhyolite, chert, and VMS.  In 2019, WFE crews exposed a rich channel outcrop:  8.9 g/t Au across 3 meters.  Later in the season, a new cross-cutting structure with steady 9 g/t gold readings extended the mineralized zone another 200m across strike south of the discovery zone, and provided possible early evidence of near-surface “D-series” crustal structures.

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Older drills concentrated on the shore and islands of O’Sullivan Lake, near the old Louanna Mine (16k ounces Au at an average of about 10 g/t). Locally, the “mother-lode” was thought to be under the lake. There is evidence in the files that an application to drain the lake was filed – and granted - in 1963. The rugged interior was left virtually untouched.

Maun is located thirty kilometers from the main CN line and loading spurs, mostly via good logging roads
north of the Aroland Anisinaabe First Nation Reserve 30km from Nakina. Co-founder Fred Strong owns a
serviced lot in nearby Nakina suitable for a field office and core shack. Older drills concentrated on the shore
and islands of O’Sullivan Lake, near the old Louanna Mine.  Locally, the “mother-lode” was thought to be under the lake. There is evidence in the files that an application to drain the lake was filed – and granted! – in 1963. The rugged interior was left virtually untouched.

Rand Hodgson advised Whitefish to make Maun Road its flagship project for one simple reason: These are
the best rocks he has seen in a four-decade career rock hammer prospecting all over Ontario and Quebec.
Host rocks occur in outcrop in remarkable quantity.It takes very little field time to harvest rich sample sets from surface exposures that cover approximately 30% of the area.

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Maun ticks all the boxes: It is described as a rare new NW Ontario discovery – shallow, rich and relatively close to infrastructure. The summer of 2019 started off quickly. Here is an excerpt of the first field report from Rand Hodgson:

“As suspected, there is mineralization practically throughout the breccia which has minimum
thickness of 300 meters possibly more to the northwest. We have taken samples at 6 or 7 new
showings including 2 semi-massive pyrite gossans with rhyolite-sericite samples which look “exactly”
like high-grade samples from last year. The gossans are at least exposed for 1 or 2 meters, open
under sand cover…”

In 2016-2019, Whitefish consolidated the Maun claims, a top priority that slowed exploration and corporate
development. In 2019, WFE added the Warren nickel/copper occurrence to inventory after relinquishment by
a third party. In addition, the Company recently added several key claims with gold showings near Lacana’s 14 g/t Megan showing, right in the middle of the main trend.

2020 recommended work program:

Maun is a major prospect, potentially district scale, with a major data deficit. 2020 work is devoted to
helping resolve this deficit. The first priority is a short 2km bush trail. This will double field time for
prospecting and provide access for light equipment suitable for trenching and scraping. The trail is covered
by the exploration permit.  It was cut in spring, 2020.

WFE personnel used high resolution satellite imagery and several field visits to map this “bush road” from the shore
of O’Sullivan Lake along high ground toward New Athona and Hurd Lake. No stream crossings mean this
can be done without special approvals (quote pending).  Mainly chain saw work. Sept 2019 consultation meetings with Aroland heard no objections and received an inquiry as to a job contract. A four person camp on the shore of O’Sullivan has was also as part of the Exploration License.

New VTEM or even standard ground IP, which requires line cutting, are going to be used at Maun. Ground IP is
relatively expensive. At this time, the property needs further prospecting to identify more priority areas.
In order to help resolve this problem, Whitefish has engaged a structural geologist to prepare a preliminary
memo to help sort out priority areas. For example, the Hurd Lake pluton may well have provided
heat and stress sufficient to create a high-grade “halo” with related gold deposition.