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1250 hectares, 12.5 km2, Permit #PR 19-000199

The Grace Lake Deformation Zone ("GLDZ") has been the focus of a large amount of previous third-party work, notably Asarco (ground IP - 1966) and Fronteer/Newmont - high density ground magnetics (2003). In 2001, half interest in a large set of claims that include the current Swain property were optioned out by Fronteer for cash, shares and $750,000 in work commitments. Mainly due to equipment failure, prime targets were never drilled or even properly prospected. Nevertheless, the Fronteer technical report is definitive:

"The best potential for the discovery of economic mineralization of the Swain East, Sol d'Or and Grace properties lies within the GLDZ." Fronteer Technical Report, HM Klatt, 2003 Page 38





















In late 2019, WFE found itself in the vortex of a local staking rush. Luckily, several days before this took place, Rand Hodgson had staked the eastern portion of the GLDZ. Whitefish now controls nearly all the GLDZ within the expanded Swain Lake property. In April 2020, Pacton Gold acquired claims that surround the Whitefish claims. These were staked during the claim rush by a group whose successes include Great Bear Resources' Dixie project, a world-class new gold discovery located about 60 km to the west of Swain.

Swain is located in the Birch-Uchi greenstone belt within the Uchi geological Subprovince. It Is comprised of volcanic and metasedimentary successions similar to those in the contiguous Red Lake greenstone belt, which hosts classic world-class gold deposits like Campbell-Red Lake, as well as newly discovered gold deposits such as Great Bear Resources’ Dixie Project. First Mining Gold’s Springpole Mine (4.7mm oz Au) is under development just 28 km to the NW. The winter road to Springpole passes through the western end of the property.

The Swain property contains three gold-bearing trenches - Hodgson, Bobarris and Cliff - as well as dozens of Au-in-rock samples up to 59 g/t Au and soil sample geochemical analyses up to 2.7 g/t Au mostly collected by previous operators. Several of these showings coincide with observed geophysical anomalies forming strong drill targets. Here is a sampling:



















WFE considers three locations to be drill-ready. The age of the Asarco ground IP data (1966) makes otherwise good data difficult to work with, especially with respect to detailed correlation and drill collaring. The Company has chosen to acquire new Gradient Survey Induced Polarity ("GS-IP" or simply "IP") data covering the northern contact of the GLDZ and the anomalous soils to the south. This work is the subject of a firm quote and can be carried out immediately, assuming funding is in place. It is designed to allow WFE to properly target up to 12 drill holes, 8 in an ESE-WNW fence along the north margin of the GLDZ and 4 holes drilled N-S toward Swain Lake. Exploration Permit #PR-19-000199 was issued to Whitefish In Oct 2019.

WFE is working with Robert Thivierge (P. Geo) a structural geologist to prepare a preliminary tectonic analysis. A review of geological literature and available field data strongly suggests that the GLDZ represents an important NW-trending dextral D2 shear zone hosting anomalous gold occurrences, whose structural framework is comparable with other gold deposits in the Red Lake district that are controlled by similar D2 structures.

The GLDZ developed within a mainly tuffaceous intermediate metavolcanic sequence that apparently succeeds a mafic metavolcanic sequence containing minor chert-ironstone units (to the SW) and lies adjacent to a younger sequence of clastic metasedimentary rocks (to the NE) across a tectonized, presumably unconformable, contact. Preliminary analysis suggests that the GLDZ is a dextral transtensional shear zone (with a component of southward thrusting) that evolved in regional interplay with other D2 structures, which control the overall configuration and anatomy of the greenstone belt and gold mineralisation within it. If these structures are confirmed by geophysics and drilling, it would be highly favourable to ore deposition.

The Swain property shares many similarities to Great Bear Resources' Dixie Project. One of these is light glacial overburden, about 1-2 metres. To overcome this minor obstacle, Great Bear uses a geophysical technique called Spaciotemporal Geophysical Hydrocarbon survey ("SGH"), an extremely sensitive sample-based technique that does not require line cutting. The basic cost per standard sample is $48. In 2018, Great Bear Resources tried a 140 sample SGH test program that "successfully located bedrock gold mineralization below glacial till cover in the Hinge and Dixie Limb areas.” They followed up with a 2100 sample survey encompassing 4 km x 1 km along the LP Fault. A 150 station SGH test program at Swain would cost about $12k. A pronounced magnetic low south of Bobarris Lake represents one possible target.

As part of the original claim option agreement, Rand Hodgson reserved a 2% NSR executable on acceptance of a Preliminary Economic Assessment ("PEA"). At that time, 1.5% can be repurchased by WFE for $200k. A 0.5% royalty owned by the Ontario Exploration Corporation
("OEC") also applies to most of the property. Unlike Maun, which is not currently for sale, WFE will consider separate option or outright sale with continuing participation.

Geological evidence supports recognition of the Swain property and the GLDZ as an important "D2" shear zone hosting numerous gold occurrences.  Coupled with property action in the immediate area eg. Pacton Gold acquiring land on three sides:  WFE's Swain property is objectively one of this hottest prospects in this high-profile volcanic belt. The Company has a relevant bibliography and a great deal of additional information on Swain and its other two projects, which are available on request.





















                                                                          Hi-density false-colour isomagnetic map (2003).