Tripura’s best kept secret: three lion cubs born in June

Tripura’s best kept secret: three lion cubs born in June

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Zoo director Naresh Jamatia says the zoo has got lion cubs after a gap of over three years when two male cubs were born in 2015.

This could well be Tripura’s best kept secret, certainly for 2018. The Sepahijala Zoo and Wildlife Sanctuary has announced the arrival of three new big cats. But the cubs were actually born this June to adult lions Dushmanta and Chinmoyee. The two males and one female were, however, kept under close observation for almost half a year before being shown to the world.

Zoo director Naresh Jamatia says the zoo has got lion cubs after a gap of over three years when two male cubs were born in 2015. “The new cubs were separated from their mother after birth and are being kept in intensive care in a separate enclosure,” says the director.

With this the zoo now has eight big cats, all lions, including five adults. Sepahijala has lost its last Royal Bengal Tiger five months back. Dipu had been suffering from illness for long.

With this the zoo now has eight big cats, all lions, including five adults. Sepahijala has lost its last Royal Bengal Tiger five months back. Dipu had been suffering from illness for long. With this the zoo now has eight big cats, all lions, including five adults. Sepahijala has lost its last Royal Bengal Tiger five months back. Dipu had been suffering from illness for long.

The cubs were seen running into their enclosures as soon as a keeper approached with two bucketloads of meat. “These are little cubs. We keep them out of human sight. They might get afraid and become sick,” says their keeper.

Zoo biologist Chiranjib Debnath says they usually exchange animals with other zoos to prevent genetic diseases from repeated breeding within the same family. “As many as 39 clouded leopards were bred here and sent to Mizoram, Arunachal Pradesh and other states. We are now hoping to get some tigers,” he says.

In fact, the sanctuary carries the coveted ‘Clouded Leopard National Park’ tag since 2011 thanks to its successful breeding of the near-extinct animal. This is the only place where the endangered clouded leopard is bred and conserved — 39 of these leopards has been bred here in the last seven years.

Sepahijala also houses 23 spectacled monkeys, one of the most endangered species of primates and Tripura’s state animal. Sepahijala also houses 23 spectacled monkeys, one of the most endangered species of primates and Tripura’s state animal.

If the legends are to be believed, Sepahijala gets its name from a sepoy camp of a Tripura king along the marshy area in the present sanctuary — ‘Jala’ in Bengali means marshy land. Rich in flora and fauna, Sepahijala Bio-Complex was set up in 1972 with a small Botanical Garden and Deer Park. The Deer Park gradually became a full-fledged zoo and the Sepahijala Wildlife Sanctuary was set up in February 1987.

Zoo curator Vannunsanga Darlong says the sanctuary now has 543 animals including ten clouded leopards, the eight lions and 14 species of birds.

Sepahijala also houses 23 spectacled monkeys, one of the most endangered species of primates and Tripura’s state animal.

Curation Assistant Pintu Debbarma says there is usually a huge queue of visitors all around the year. However, the numbers go up during winters, he adds.

Tripura has three other sanctuaries, Trishna in South Tripura, Rowa in North Tripura and Gomati wildlife sanctuary in Gomati district. Among these, Trishna was declared as a bison reserve.

List of public holidays in May 2017 to plan out your vacations

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It’s summer, which means that most people are slowly cooking inside the hot oven that is India. Everyone wants a respite from the heat, even for a day. Thankfully, the month has plenty of public holidays that you can enjoy at your leisure. Here is a list of public holidays in May 2017, and how you can use them well. ALSO READ: List of holidays in 2017 to plan your vacations right away!

Also Read - Karnataka Lockdown News Today: Will Govt Impose Total Shutdown in Bengaluru After August 15? Read Minister’s Latest Statement Here

Maharashtra Day and May Day – Monday, 1 May 2017

May starts with a nice long weekend, with Maharashtra Day and May Day recognized in most parts of the country. Maharashtra Day, obviously, is celebrated only in that state, while May Day is recognized as a public holiday in the states of West Bengal, Tamil Nadu, Punjab, Manipur, Kerala, Karnataka, Jharkhand, Goa, Bihar and Assam. Folks in Maharashtra can spend their weekend at any of the state’s numerous weekend getaways. Hurry though, because everyone will be flocking to the crowd favorites. You can use this to explore some off-beat locations, and all the states mentioned above have plenty of them. Maharashtra has places like Bhandardara, Tadoba and Chikhaldara, Assam has Majuli and Manas National Park, and Karnataka has Halebid and Maravanthe. Also Read - London Weather Forecast, August 14, Saturday, India vs England 2nd Test Day 3: Partly Cloudy, Chances of Rain Minimal

Rabindra Jayanti – Tuesday, 9 May 2017

Recognized in West Bengal, Rabindra Jayanti marks the birth anniversary of iconic poet and writer Rabindranath Tagore. Typically celebrated on the 25th day of the first month of the Bengali calendar, Rabindra Jayanti this year falls on a Tuesday. You can stitch with the prior weekend for a nice four-day holiday, or you could just simply enjoy and participate in the cultural revelries that take place this day. Rabindra Jayanti is marked by numerous cultural programs and events that revolve around the works and cultural impact of Tagore. The best place to witness the festival is at the Jorasanko Thakurbari, which is the Tagore family’s ancestral home north of Kolkata. ALSO READ: 6 beautiful places to visit in the pristine city of West Bengal, Siliguri!

Also Read - Horoscope Today, August 14, Saturday: These 3 Zodiac Signs Will Have to Be More Careful

Buddha Purnima – Wednesday, 10 May 2017

The pan-Indian festival of Buddha Purnima falls on a Wednesday this year, so most people in the country will have to make do with a one-day celebration. However, if you are in West Bengal, the day falls right after Rabindra Jayanti. Take the Monday off, and you can go for a nice five-day vacation. Darjeeling, Jalpaiguri and Bankura are a few popular places. If you would rather not go on a long vacation or live elsewhere in India, you can spend the day observing or witnessing the celebrations of Buddha Purnima. The festival is celebrated in most parts of India, particularly in South India and places with significant Buddhist populations, like Sikkim, Arunachal Pradesh and Ladakh. This is a good time to visit Buddhist monasteries and pilgrimage sites in India.

Sikkim State Day – Tuesday, 16 May 2017

Falling clean in the middle of the month, Sikkim State Day marks the date when it officially became a state of the Indian Union in 1975. You can spend the day at any of Sikkim’s many destinations, depending on what is closest to you. This is the second-smallest state in the country, though, so you would find a lot of places within your reach. The capital city of Gangtok offers lush forests, pristine rivers and a serene atmosphere, while the rustim hamlet of Yuksom offers trails into the Himalayas. You can also spend the day at Tsomgo or Changu Lake, or visit the historic Nathula Pass. And for the best view of the Himalayas, visit Pelling.

Nazrul Jayanti – Friday, 26 May 2017

Tripura will be celebrating Nazrul Jayanti on 26 May, which means that folks in the state will get to enjoy a long weekend. The day marks the birth anniversary of famous Bengali poet, musician, writer and revolutionary Kazi Nazrul Islam, known as the “Rebel Poet” by many. Although the day is celebrated in a more grand fashion in the neighboring country of Bangladesh, many folks in West Bengal and Tripura celebrate it in their own way. Since it is a long weekend, you can take the opportunity to lose yourself in the state’s lush valleys and mountains. Nature lovers can go out and explore the Gumti wildlife Sanctuary at the southeastern end of the state or the smaller Rowa Wildlife Sanctuary up north. Jampui Hills, Sepahijala Wildlife Sanctuary, Unakoti, Pilak and Kumarghat are other great long weekend destinations you can consider.

Maharana Pratap Jayanti – Sunday, 28 May 2017

Maharana Pratap Jayanti, the birth anniversary of famed Mewar king Maharana Pratap, is celebrated on the third day of Jyestha Shukla, a month in the Hindu calendar. This year, the anniversary falls on the last Sunday of May. It is recognized as a public holiday only in Haryana and Himachal, so people in these states can spend their Sunday attending special poojas and processions held to commemorate the king. Since it falls on a Sunday, others who are interested in witnessing the Maharana Pratap Jayanti celebrations can also travel to Haryana or Himachal Pradesh on that day. For those who are planning a summer trip to Himachal around the same time, you can spend half a day experiencing this rare festival and attending a few of the cultural programs. ALSO READ: 10 pictures show backpacking in Himachal Pradesh is the best thing to do in May!

Guru Arjan Dev Martyr Day – Monday, 29 May 2017

Recognized only in Punjab, Guru Arjan Dev Martyr Day pays tribute to the first martyr of the Sikh faith: Guru Arjan. He was fifth among the ten Sikh Gurus, and the tale of his torture and execution by the orders of Mughal Emperor Jehangir is an important part of the Sikh narrative. His martyrdom marks an important moment in Sikh history. As such, the day sees special services at Gurudwaras in Punjab. Prayers are made to the guru, and many people meditate on his message of peace. You can spend the day at your nearest Gurudwara that is observing the day. Here, you can listen to the kirtans recited from the Sri Guru Granth Sahib and the kathas that are discussed by the head. Given that it is a long weekend, you could also use the chance to explore places around Punjab, like the Harmandir Sahib or Jallianwala Bagh in Amritsar, the Garden of Silence by Sukhna Lake, or the Virasat-e-Khalsa museum dedicated to Sikhism in Anandpur Sahib. NOW SEE: Festivals in India in May 2017 that you should not miss

Have interesting travel photos you’d like to share with us? Send photos from your travels to travel@corp.india.com, don’t forget to mention where you’ve shot the picture and get a chance to be featured on our website! So what are you waiting for? Hurry!

Have something to add to this story? Post your comments in the discussion board below; we will be thrilled to hear from you!

Form 6-K AURYN RESOURCES INC. For: Jul 21

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July 2020

Commission File No. 001-38145

Auryn Resources Inc.

(Translation of registrant’s name into English)

Suite 600, 1199 West Hastings Street

Vancouver, British Columbia, V6E 3T5 Canada

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

Form 20-F [ ] Form 40-F [X]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) [ ]

SUBMITTED HEREWITH

Exhibits

99.1

Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project amended and restated June 24, 2020

99.2

Consent of Qualified Person - David Stone, P.Eng. amended and restated June 24, 2020

99.3

Consent of Qualified Person – Philip A Geusebroek, M.Sc., P.Geo amended and restated June 24, 2020

99.4

Consent of Qualified Person – Paul Chamois, M.Sc.(A), P.Geo amended and restated June 24, 2020

99.5

Consent of Qualified Person - Mary Mioska, P.Eng. amended and restated June 24, 2020

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

AURYN RESOURCES INC.

Date: July 21, 2020

By: /s/ Stacy Rowa Stacy Rowa

Chief Financial Officer

Exhibit 99.1

Technical Report,

Updated Mineral Resource Estimate and

Preliminary Economic Assessment

on the

HOMESTAKE RIDGE GOLD PROJECT

SKEENA MINING DIVISION

BRITISH COLUMBIA

Latitude 55° 45’ 12.6" N and Longitude 129° 34’ 39.8" W

Qualified Persons:

Paul Chamois, P.Geo.

Philip Geusebroek, P.Geo.

Mary Mioska, P.Eng.

David M.R. Stone, P.Eng.

Prepared by:

MINEFILL SERVICES, INC.

PO BOX 725

BOTHELL, WASHINGTON

Effective Date: May 29, 2020

Amended and Restated: June 24, 2020

IMPORTANT NOTICE

This report was prepared as a National Instrument 43-101 Technical Report for the exclusive use of Auryn Resources Ltd. (Auryn ) by MineFill Services, Inc., (MineFill) . The quality of information, conclusions, and estimates contained herein is consistent with industry standards based on i) information available at the time of preparation, ii) data supplied by outside sources, and iii) the assumptions, conditions, and qualifications as set forth in this report. This report is intended for use by Auryn subject to the terms and conditions of its contract with MineFill. Except for the purposes legislated under Canadian provincial and territorial securities law, any other use of this report by any third party is at that party’s sole risk.

Homestake Ridge Project NI43-101F1 Technical Report

Table of Contents

Page 1 SUMMARY 1-1 1.1 Overview 1-1 1.2 Geology 1-1 1.3 Mineralization 1-2 1.4 Exploration Highlights 1-3 1.5 Mineral Resources 1-3 1.6 Mineral Reserves 1-4 1.7 Mining Operations 1-4 1.8 Processing 1-4 1.9 Site Infrastructure 1-5 1.1 Capital Costs 1-6 1.11 Operating Costs 1-6 1.12 Financial Model 1-6 1.13 Qualified Persons Opinion 1-7 2 INTRODUCTION 2-1 2.1 The Issuer 2-1 2.2 Terms of Reference 2-1 2.3 Sources of Information 2-1 2.4 Qualified Persons 2-3 2.5 Personal Inspection

2-3 2.6 Terms and Definitions 2-4 3 RELIANCE ON OTHER EXPERTS 3-1 4 PROPERTY DESCRIPTION AND LOCATION 4-1 4.1 Location 4-1 4.2 Project Ownership 4-2 4.3 Mineral Tenure 4-2 4.4 Royalties and Encumbrances 4-2 4.5 Property Agreements 4-2 4.6 Permitting Considerations 4-2 4.7 Environmental Considerations 4-4 4.8 Social License Considerations 4-4 4.9 Comments on Section 4 4-4 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND PHYSIOGRAPHY 5-1 5.1 Site Access 5-1 5.2 Climate 5-1 5.3 Local Resources and Infrastructure 5-3 5.4 Physiography 5-4 5.4.1 Terrain 5-4 5.4.2 Vegetation 5-4

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Page i Homestake Ridge Project NI43-101F1 Technical Report

5.5 Seismicity 5-5 5.6 Comments on Section 5 5-6 6 HISTORY 6-1 6.1 Prior Ownership 6-1 6.2 Exploration History 6-1 6.3 Production 6-3 7 GEOLOGICAL SETTING AND MINERALIZATION 7-1 7.1 Regional Geology 7-1 7.2 Local Geology 7-4 7.3 Property Geology 7-6 7.4 Mineralization 7-10 7.4.1 Homestake Main Deposit 7-12 7.4.2 Homestake Silver Deposit 7-12 7.4.3 South Reef Zone 7-13 7.5 Prospects/Exploration Targets 7-13 7.5.1 Vanguard Cu and Au Zones 7-15 7.5.2 Sericite Zone (Gold Reef, Fox Reef) 7-15 7.5.3 Dilly and Dilly West Zones 7-15 7.5.4 North Homestake Zone (North Dome) 7-16 7.5.5 KNHSR1 7-16 7.5.6 Kombi 7-17 7.5.7 Bria 7-17 8 DEPOSIT TYPES 8-1 9 EXPLORATION 9-1 9.1 Rock Sampling 9-1 9.1.1 Rock Sampling Methodology 9-1 9.1.2 Rock Sampling Results 9-1 9.2 Soil Sampling 9-1 9.2.1 2017 Ah Horizon Soil Sampling Methodology 9-1 9.2.2 2017 Talus Fines Sampling Methodology

9-1 9.2.3 B-Horizon Soil Sampling Methodology

9-1 9.2.4 Soil Sample Results

9-1 9.3 Induced Polarization Survey 9-2 9.4 Re-log of Historic Drill Core 9-2 9.5 Geochronological Study 9-2 9.6 Airborne Geophysics 9-3 10 DRILLING 10-1 10.1 Historical Drilling 10-1 10.2 Auryn Resources Inc. Drilling 10-1 11 SAMPLE PREPARATION, ANALYSES, AND SECURITY 11-5 11.1 Historic Sampling 11-5 11.2 Homestake Resources Corporation Sampling 11-5 11.3 Assaying of Drill Core 11-6 11.3.1 2003 to 2006 Procedure 11-6 11.3.2 2007 to 2008 Procedure 11-7 11.3.3 2009 to 2012 Procedure 11-7 11.4 Agnico Eagle Mines Limited Sampling 11-8

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11.5 Auryn Sampling 11-9 11.6 Laboratory Methods 11-11 11.7 QC Sampling 11-13 11.8 2017 to 2019 QC Programs 11-13 12 DATA VERIFICATION 12-1 12.1 Site Visit 12-1 12.2 Historical Verification 12-1 12.3 2017 to 2019 Verification Work 12-1 12.4 Assay Verification 12-2 13 MINERAL PROCESSING AND METALLURGICAL TESTING 13-1 13.1 Overview 13-1 13.2 Base Metal Laboratories 2016 13-1 13.3 Ore Sorting 13-2 13.4 Gravity Concentration 13-3 13.5 Main Composite Rougher Flotation Testing 13-3 13.6 Silver Composite Rougher Flotation Testing 13-4 13.7 Main Composite Cleaner Flotation Testing 13-4 13.8 Silver Composite Cleaner Flotation Testing 13-5 13.9 Cyanide Leaching of Flotation Products 13-6 13.1 Concentrate Quality Estimates 13-6 13.11 Comment on Metallurgical Sampling 13-7 13.12 Qualified Persons Opinion 13-7 14 MINERAL RESOURCE ESTIMATES 14-1 14.1 Resource Database 14-1 14.2 Geological Interpretation 14-3 14.3 True Thickness 14-5 14.4 Treatment of High-Grade Assays 14-6 14.4.1 Capping Levels 14-6 14.5 High-Grade Restriction 14-8 14.6 Compositing 14-8 14.7 Variography 14-9 14.8 Search Strategy and Grade Interpolation Parameters 14-11 14.9 Bulk Density 14-12 14.1 Block Models 14-14 14.11 Cut-off Grade 14-18 14.12 Classification 14-19 14.13 Block Model Validation 14-20 14.14 Mineral Resource Reporting 14-24 14.15 Comparison to Previous Estimates 14-26 14.16 Comments on Section 14 14-28 15 MINERAL RESERVE ESTIMATES 15-1

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16 MINING METHODS 16-1 16.1 Overview 16-1 16.2 Geotechnical Considerations 16-1 16.3 Cut-Off Grade 16-1 16.4 Mining Method 16-2 16.5 Production Schedule 16-3 16.6 Dilution 16-5 16.7 Mine Development 16-6 16.7.1 Equipment Utilization 16-7 16.8 Mine Backfill 16-7 16.9 Mine Services 16-8 16.9.1 Ventilation 16-8 16.9.2 Compressed Air 16-8 16.9.3 Water 16-8 16.9.4 Mine Dewatering 16-8 16.9.5 Electrical Power 16-8 16.9.6 Emergency Egress and Refuge 16-8 17 RECOVERY METHODS 17-1 17.1 Flowsheet Development 17-1 17.2 Deleterious Elements 17-4 18 PROJECT INFRASTRUCTURE 18-1 18.1 Site Access 18-1 18.2 Barge Landing 18-3 18.3 Power 18-3 18.3.1 Transmission Line Alternative 18-3 18.3.2 Hydropower Alternatives 18-4 18.3.3 Diesel Power Alternative 18-4 18.4 Water Supply 18-4 18.5 Waste Rock Storage 18-5 18.6 Tailings Storage Facility 18-5 18.6.1 Slurried Tailings Options – Sites A and B 18-6 18.6.2 Filtered Tailings Options – Site C and Site D 18-7 18.6.3 Site Selection 18-9 18.7 Process Plant 18-9 18.8 Ancillary Facilities 18-9 18.8.1 Person-Camp 18-9 18.8.2 Core Shack 18-9 18.8.3 Assay Laboratory 18-9 18.8.4 Maintenance Shop and Warehouse 18-10 18.8.5 Mine Administration/Technical Offices 18-10 18.8.6 Underground Dry 18-10 18.9 Storage 18-10 18.9.1 Diesel Fuel 18-10 18.9.2 Potable Water 18-10 18.9.3 Fire Water 18-10 18.9.4 Explosives 18-10 18.9.5 Reagents 18-11

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19 MARKET STUDIES AND CONTRACTS 19-1 19.1 Commodity Pricing 19-1 19.2 Material Contracts 19-4 20 ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT 20-1 20.1 Environmental Studies Overview 20-1 20.2 Pre-Existing Conditions 20-2 20.3 Waste Rock Characterization 20-2 20.4 Tailings Geochemistry 20-3 20.5 Metals Leaching 20-4 20.6 Environmental Considerations/Monitoring Programs 20-4 20.6.1 Waste Rock Monitoring 20-4 20.6.2 Tailings Surface Water Management 20-4 20.6.3 Groundwater Monitoring 20-4 20.6.4 Surface Water Monitoring 20-5 20.6.5 Surface Runoff Water Management 20-5 20.7 Closure Plan 20-6 20.8 Permitting 20-7 20.8.1 Land Use Plans 20-7 20.8.2 Federal Permits, Approvals, Licences and Authorizations 20-11 20.8.3 Provincial Permits, Approvals and Licences 20-12 20.8.4 Access Road Permitting 20-15 20.9 Considerations of Social and Community Impacts 20-15 20.1 Comments on Section 20 20-18 21 CAPITAL AND OPERATING COSTS 21-1 21.1 Capital Cost Estimates 21-1 21.1.1 Basis of Estimate 21-1 21.1.2 Direct Costs 21-1 21.1.3 Indirect Costs 21-3 21.1.4 Sustaining Capital 21-4 21.2 Operating Cost Estimates 21-6 21.2.1 Mining Operating Costs 21-6 21.2.2 Process Operating Costs 21-6 21.2.3 General and Administrative Operating Costs 21-6 21.2.4 Environmental Costs 21-7 21.2.5 Community and Social 21-7

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22 ECONOMIC ANALYSIS 22-1 22.1 Introduction 22-1 22.2 Mine Production Schedule 22-1 22.3 Metal Production 22-2 22.4 Concentrate Freight and Insurance 22-2 22.5 Smelting and Refining Terms 22-2 22.6 Concentrate Marketing Terms 22-3 22.7 Capital Costs 22-3 22.7.1 Sustaining Capital 22-4 22.7.2 Working Capital 22-4 22.7.3 Salvage Value 22-4 22.8 Net of Smelter Revenues 22-4 22.9 Royalties 22-5 22.1 Operating Costs 22-5 22.11 Other Cash Costs 22-5 22.12 Taxes 22-6 22.13 Financial Indicators 22-6 22.14 Sensitivity Analysis 22-7 22.15 Financial Model 22-8 23 ADJACENT PROPERTIES 23-1 23.1 Kinskuch (Extracted from the Hecla website) 23-2 23.2 Dolly Varden 23-3 23.3 Kitsault 23-4 24 OTHER RELEVANT DATA AND INFORMATION 24-1 25 INTERPRETATION AND CONCLUSIONS 25-1 25.1 Mineral Resource Conclusions 25-2 25.2 Risk 25-3 25.3 Opportunities 25-4 26 RECOMMENDATIONS 26-1 26.1 Future Studies 26-1 26.1.1 Geology and Mineral Resources 26-1 26.1.2 Resource Drilling 26-2 26.1.3 Geotechnical Studies 26-2 26.1.4 Environmental Testing 26-2 26.1.5 Environmental Monitoring 26-2 26.1.6 Surface Hydrology and Water Balance 26-3 26.1.7 Metallurgical Testing 26-3 26.1.8 Power Source 26-3 26.2 Proposed Budget 26-4 27 REFERENCES 27-1 28 QUALIFIED PERSONS CERTIFICATES 28-1

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List of Tables

Table 1-1 Mineral Resources – Effective Date: December 31, 2019 Auryn Resources Inc. – Homestake Ridge Project 1-3 Table 1-2 Financial Indicators (US$ M) 1-6 Table 2-1 Qualified Persons 2-3 Table 4-1 Homestake Mineral Claims 4-3 Table 4-2 Crown Grants 4-4 Table 5-1 Climatic Data 5-3 Table 9-1 Summary of Geochronology Results 9-3 Table 9-2 VTEM Survey Summary 9-3 Table 10-1 Historical Drilling 10-1 Table 11-1 Certified Reference Material 11-13 Table 14-1 Mineral Resource Assay Statistics 14-2 Table 14-2 Capping: Au and Ag 14-6 Table 14-3 Capping: Cu, Pb, As, Sb 14-7 Table 14-4 Composite Statistics 14-9 Table 14-5 Variography Results 14-10 Table 14-6 Bulk Density by Zone 14-14 Table 14-7 Bulk Density by Domain 14-14 Table 14-8 Block Model Geometry: HM and HS 14-15 Table 14-9 Block Model Geometry: SR 14-16 Table 14-10 Key Block Model Variables 14-16 Table 14-11 Statistical Comparison of Block Model Grades 14-21 Table 14-12 Mineral Resources – December 31, 2019 Auryn Resources Inc. – Homestake Ridge Project 14-24 Table 14-13 Mineral Resources – Sensitivity by Cut-Off Grade Auryn Resources Inc. – Homestake Ridge Project 14-25 Table 14-14 Deleterious Element Content of Mineral Resources 14-26 Table 14-15 Comparison of 2017 and 2019 Mineral Resource Estimates 14-27 Table 16-1 Cutoff Grade Calculation 16-2 Table 16-2 Life of Mine Production Schedule 16-4 Table 16-3 Stope Tonnage Dilution 16-5 Table 16-4 Life of Mine Development Lengths 16-6 Table 16-5 Lateral Development Summary 16-6 Table 16-6 Major Equipment Utilization (hours x 1000) by Project Year 16-7 Table 16-7 Backfill Demand by Project Year (m3) 16-7 Table 17-1 Metals Distribution at Homestake Ridge 17-1 Table 17-2 Metallurgical Recoveries 17-3 Table 17-3 Concentrate Grades 17-3 Table 17-4 Concentrate Production – Life of Mine 17-3 Table 17-5 Deleterious Elements in the Concentrates 17-4 Table 19-1 Historical Metal Prices effective March 26, 2020 – US Dollars 19-1 Table 20-1 Federal Permits and Approvals Potentially Applicable to the Project 20-11 Table 20-2 Provincial Permits and Approvals Potentially Applicable to the Project 20-13 Table 21-1 Capital Cost Summary 21-2 Table 21-2 Environmental Monitoring Costs (C$) 21-4 Table 21-3 Sustaining Capital Costs – Life of Mine 21-5 Table 21-4 Operating Cost Summary (US$) 21-6 Table 21-5 Unit Mining Costs (US$) 21-6 Table 22-1 Production by Year (kt) 22-1 Table 22-2 Life of Mine Metal Production 22-2 Table 22-3 Concentrate Freight and Insurance (US$) 22-2 Table 22-4 Treatment and Refining Costs (US$) 22-3 Table 22-5 Concentrate Marketing Terms 22-3 Table 22-6 Sustaining Capital Expenditures over the Life of Mine(US$ Millions) 22-4 Table 22-7 Base Case Metal Prices (US$) 22-4 Table 22-8 Life of Mine Metal Revenues – (US$) 22-5 Table 22-9 Financial Indicators 22-7 Table 22-10 Metal Price Sensitivity – After-Tax 22-7 Table 22-11 Operating Cost Sensitivity – After-Tax 22-8 Table 22-12 Capital Cost Sensitivity – After-Tax 22-8 Table 22-13 Base Case Financial Model (US$ Millions) 22-9 Table 26-1 Future Work Tasks and Budget (US$) 26-4

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List of Figures

Figure 4.2: Mineral Claims 4-1 Figure 4.3: Claims Subject to Royalty 4-3 Figure 5.1: Site Access 5-2 Figure 5.2: Earthquake Epicenter Map for Events in the Past 50 Years 5-5 Figure 7.1: Regional Geology 7-3 Figure 7.2: Local Geology 7-5 Figure 7.3: Property Geology 7-7 Figure 7.4: Deposit Locations 7-11 Figure 7.5: Longitudinal Section Through the Homestake Ridge Deposit Looking North-East 7-11 Figure 7.6: Prospects/Exploration Targets 7-14 Figure 9.1: Homestake Merged Magnetics 9-4 Figure 9.2: Homestake Merged Conductivity 9-5 Figure 10.1: Drilling Collar Locations 10-3 Figure 10.2: Typical Drill Section Views 10-4 Figure 11.1: Core Handling Flow Chart 11-10 Figure 11.2: Sampling Flow Chart 11-12 Figure 13.1: Metallurgical Sample Locations 13-8 Figure 14.1: Oblique View of HM (Left Side) And HS (Right Side) Veins 14-4 Figure 14.2: Histogram of TT Where GTT > 4.0 14-5 Figure 14.3: Plan View of Bulk Density Sample Distribution 14-13 Figure 14.4: Plan View of Block Models 14-17 Figure 14.5: Visual Validation Example 14-22 Figure 14.6: Swath Plot Example (HM Y and Z, Width 30 m) 14-23 Figure 16.1: Longhole Open Stoping at Homestake Ridge 16-3 Figure 16.2: Life of Mine Production Schedule 16-5 Figure 17.1: Proposed Flowsheets for Homestake Main (Copper Circuit) and Homestake Silver (Lead/Zinc Circuit) 17-2 Figure 18.1: Site Development Plan 18-1 Figure 18.2: Site Access 18-2 Figure 18.3: Potential Tailings Storage Options 18-6 Figure 19.1: 3-Year Historical Price Trends for Gold (top) and Silver (bottom) 19-2 Figure 19.2: 3-Year Historical Price Trends for Copper (top) and Lead (bottom) 19-3 Figure 20.1: Great Bear Rainforest Land Use Zones 20-8 Figure 20.2: Nass South Sustainable Resource Management Plan Areas 20-10 Figure 23.1: Mineral Properties in the Vicinity of Homestake Ridge 23-1

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1. SUMMARY

1.1 Overview

The subject of this document is the Homestake Ridge gold project located in the so-called Golden Triangle of north-central British Columbia. The Project is owned and operated by Auryn Resources Inc. (the “Company” or “Auryn”) of Vancouver, B.C. Auryn is listed on the Toronto stock exchange and the New York Stock Exchange.

The Homestake Ridge Project comprises 7,484.37 hectares (ha) of mineral claims and crown grants and is located approximately 32 km north-northwest of the tidewater communities of Alice Arm and Kitsault, BC.

1.2 Geology

The Project is located within the prolific Iskut-Stewart-Kitsault Belt which hosts several precious and base metal mineral deposits. Diverse mineralization styles include stratabound sulphide and silica-rich zones, sulphide veins, and disseminated or stockwork sulphides. Mineralization is related to Early Jurassic feldspar-hornblende-phyric sub-volcanic intrusions and felsic volcanism, which commonly occurs with zones of pyrite-sericite alteration. Numerous genetic models can be proposed for the area and local deposits present a broad range of characteristics.

The Project lies within the metallogenic region known as the Stewart Complex. Described as the contact of the eastern Coast Plutonic Complex with the west-central margin of the successor Bowser Basin, the Stewart Complex ranges from Middle Triassic to Quaternary in age and is comprised of sedimentary, volcanic, and metamorphic rocks.

The Project covers the transition between the sedimentary and volcanic rocks of the Upper Triassic to Lower Jurassic Stuhini Group, a complex sequence of Lower to Middle Jurassic sedimentary, volcanic, and intrusive rocks of the Hazelton Group and sedimentary rocks of the Upper to Middle Jurassic Bowser Lake Group.

In the northern portion of the Project, at the headwaters of Homestake Creek, rhyolitic volcanic rocks occur at the base of the Salmon River sediments.

The eastern portion of the Project is dominated by the Middle to Upper Jurassic Bowser Basin Group which conformably overlies the thin bedded graphitic argillites of the Salmon River formation.

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Structure on the Project largely reflects northeast-southwest compression that has continued from the Jurassic to present day. Recent drilling and mapping suggest that the local stratigraphy has undergone several deformation events including uplift and local extension of the Stuhini and lower Hazelton stratigraphy. Large northeast trending ankerite bearing faults have been mapped and related to Tertiary east-west extension.

1.3 Mineralization

The main zones of the Homestake Ridge deposit are the Homestake Main (HM), Homestake Silver (HS), and South Reef (SR).

The Homestake Main zone is the more copper-rich of the zones, with both gold-rich and silver-rich variants and an apparent trend of increasing copper grade with depth. Grades for gold typically range from 0.1 g/t Au to 2 g/t Au with some intercepts measuring into the hundreds of grams per tonne and averaged at 7.75 g/t Au. Silver grades are generally in the 1.0 g/t Ag to 100 g/t Ag range but can be as high as hundreds and even thousands of grams per tonne. The average silver grade in the Homestake Main zone is 68.6 g/t Ag. Copper grades vary from parts per million to several percent, with mean grades observed to increase significantly with depth.

The Homestake Silver zone, located approximately 0.5 km southeast of Homestake Main, contains very little copper, and is relatively higher in silver content. Silver grades at Homestake Silver average 154 g/t Ag, approximately double that of the Homestake Main zone (68.6 g/t Ag) and 26 times that of South Reef (5.8 g/t Ag). Gold grades at Homestake Silver typically range up to several g/t Au and averaged 3.5 g/t Au in the samples contained within the interpreted zone boundaries. Copper content is comparatively low, however, geochemically significant, and generally measures between 10 ppm Cu and 500 ppm Cu.

The South Reef zone is comprised of two narrow sub-parallel tabular bodies which strike at approximately 120° to 130° and dip 70°NE to 80°NE. To date, only twelve holes have intersected significant mineralization, as such characterization of the structure and grades is preliminary. The zones measure one metre to three metres in thickness and have been traced for approximately 300 m vertically and 400 m along strike. Silver grades at SR average 5.8 g/t Ag in the vein samples. This is offset by high gold values, which average 5.9 g/t Au.

The Homestake deposits are commonly vertically zoned from a base metal poor Au-Ag-rich top to an Ag-rich base metal zone over a vertical range of 250 m to 350 m. The silver-galena-sphalerite veins of the Homestake Silver Zone exhibit many of these features.

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1.4 Exploration Highlights

Since acquiring the Homestake Ridge Project in late 2016, Auryn has completed extensive exploration across the Property to advance additional targets to the drill ready stage. This work has included geological mapping, rock and soil geochemical sampling, portable X-ray fluorescence and shortwave infrared surveys, geophysical (IP) surveying, the re-logging of historical drill core, geochronological studies and airborne VTEM geophysical surveys along with reprocessing of historic geophysical survey data.

The Homestake Ridge property hosts a number of other mineral occurrences, however, none of these targets have NI43-101 complaint Mineral Resources.

1.5 Mineral Resources

Mineral Resources were estimated considering a potential underground mining scenario. At a cut-off grade of 2.0 g/t gold equivalent (AuEq), Indicated Mineral Resources were estimated to total 0.736 million tonnes (Mt) at average grades of 7.02 g/t Au, 74.8 g/t Ag, and 0.18 percent Cu. At the same cut-off grade, Inferred Mineral Resources were estimated to total 5.545 Mt at average grades of 4.58 g/t Au, 100.0 g/t Ag, and 0.13 percent Cu as shown in Table 1-1.

Table 1-1

Mineral Resources – Effective Date: December 31, 2019

Auryn Resources Inc. – Homestake Ridge Project

Classification And Zone Tonnes (Mt) Average Grade Contained Metal Gold (g/t Au) Silver (g/t Ag) Copper (% Cu) Lead(% Pb) Gold (oz Au) Silver (Moz Ag) Copper (Mlb Cu) Lead (Mlb Pb) Indicated HM 0.736 7.02 74.8 0.18 0.077 165,993 1.8 2.87 1.25 Total Indicated 0.736 7.02 74.8 0.18 0.077 165,993 1.8 2.87 1.25 Inferred HM 1.747 6.33 35.9 0.35 0.107 355,553 2.0 13.32 4.14 HS 3.354 3.13 146.0 0.03 0.178 337,013 15.7 2.19 13.20 SR 0.445 8.68 4.9 0.04 0.001 124,153 0.1 0.36 0.00 Total Inferred 5.545 4.58 100.0 0.13 0.142 816,719 17.8 15.87 17.34

Notes:

1. Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves dated May 10, 2014 (CIM (2014) definitions), as incorporated by reference in NI43-101, were followed for Mineral Resource estimation.

2. Mineral Resources are estimated at a cut-off grade of 2.0 g/t AuEq.

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3. AuEq values were calculated using a long-term gold price of US$1,300 per ounce, silver price at US$20 per ounce, and copper price at US$2.50 per pound and a US$/C$ exchange rate of 1.2. The AuEq calculation included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation.

4. Bulk density ranges from 2.69 t/m 3 to 3.03 t/m 3 depending on the domain.

5. Differences may occur in totals due to rounding.

6. The Qualified Person responsible for this Mineral Resource Estimate is Philip A. Geusebroek of Roscoe Postle Associates Inc. (RPA), now part of SLR Consulting Ltd (SLR).

7. The reader is cautioned that Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

8. HM=Homestake Main Zone, HS= Homestake Silver Zone, and SR= South Reef Zone.

The Qualified Person is of the opinion that the practices and methods used by Auryn to estimate Mineral Resources at the Project are in accordance with the CIM (2014) definitions, and that the December 31, 2019 Mineral Resource estimate is reasonable and acceptable for use in the Preliminary Economic Assessment (PEA).

1.6 Mineral Reserves

There are no Mineral Reserves on the Homestake Ridge Project.

1.7 Mining Operations

The PEA mine plan and production schedule were generated with Deswik Stope Optimizer software on the basis of the undated block model and resource wireframes supplied by Auryn. The principal mining method was longhole open stoping in a longitudinal direction, with a minimum mining width of 2.5 m. A mining cutoff grade of 3.5 gpt gold-equivalent was used to define the stope outlines.

The resulting mine production schedule consists of 2.87 M stope tonnes and 0.55 M mineralized development tonnes for a total of 3.42 Mt grading 5.41 gpt Au, 84.31 gpt Ag, 0.13 percent Cu and 0.12 percent Pb. The nominal mining rate is 900 tpd for an overall mine life of 13 years.

1.8 Processing

Processing of Homestake Ridge mineralization will be complicated by the difference in metal contents across the 3 principal deposits. The Homestake Main mineralization is high in copper, low in lead, and moderate in zinc. The Homestake Silver and South Reef mineralization has low copper grades. Homestake Silver has relatively low gold grades but high lead, zinc, and silver grades. South Reef is essentially just gold with a minor amount of copper.

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The PEA focuses on an optimal process strategy consisting of crushing and grinding, followed by gravity recovery of a gold concentrate, then selective flotation to produce base metal concentrates (one for copper and one for lead/zinc) and finally regrinding and flotation to produce a pyrite concentrate. Cyanide leaching of the pyrite concentrate would be used to produce doré bars.

1.9 Site Infrastructure

The Homestake Ridge Project is a remote greenfields site with no existing roads, power, water or camp infrastructure. Development of the project will require:

■ Upgrading and extending the current access road to allow the movement of freight, consumable supplies and manpower

■ Installing local hydro or diesel power, or connecting to the nearby BC Hydro grid

■ Construction of a person-camp to allow drive-in, drive-out (DIDO) manpower rosters

■ Construction of a 900 tpd metallurgical plant

■ Construction of a tailings dam and tailings storage facilities.

The ancillary mine facilities include:

■ A 130 person camp

■ Core storage and exploration offices

■ An assay laboratory

■ Equipment maintenance shops

■ Warehouse

■ Mine administration and technical offices

■ Underground dry

■ Storage for diesel fuel and lubricants

■ Explosives magazine

■ Potable and fire water.

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1.10 Capital Costs

The pre-production capital cost has been estimated at US$88.4 million (C$126.3 million) including all direct and indirect costs. The PEA is based on contractor owned and operated equipment and manpower. A contingency of 15 percent has been applied to all direct facility costs.

Sustaining costs have been estimated at US$85.8 million after a US$3.5 million credit for the end-of-mine salvage.

1.11 Operating Costs

Operating costs were developed from unit rate costs and benchmark costs for projects of a similar size and scope. The all-in operating costs have been estimated at US$89.40 per tonne milled.

1.12 Financial Model

The economic analysis was carried out using standard discounted cashflow modelling techniques. The production and capital estimates were estimated on an annual basis for the life of mine.

Applicable royalties were applied along with current Federal and Provincial taxes and incorporated into the cashflow model. The economic analysis was carried out on a 100 percent project basis. Given the location and relatively uncomplicated nature of the project, the Base Case uses a 5 percent discount factor in arriving at the project Net Present Value (NPV). Standard payback calculation methodology was also utilized.

The project generates a Before-Tax cashflow of US$277 million (US$184 million After-Tax) over 13 years or roughly US$21 million in free cashflow per year as shown in Table 1-2 below.

Table 1-2

Financial Indicators

Qualified Person Pre-Tax After Tax NPV @ 0% (US$ M) 277.82 183.99 NPV @ 5% (US$ M) 170.18 108.09 NPV @ 7% (US$ M) 140.04 86.73 IRR % 30.1% 23.6% Payback (mo) 34 36

As required by NI43-101, the author cautions the reader that the PEA is preliminary in nature, that it includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

1.13 Qualified Persons Opinion

Based on the analyses herein, it is the opinion of the Qualified Person that the Homestake Ridge Project requires further study. MineFill recommends the project be advanced to a Feasibility level of evaluation.

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2. INTRODUCTION

2.1 The Issuer

This Technical Report has been prepared for Auryn which is incorporated in British Columbia, Canada. The Company has offices in Vancouver, B.C., and is listed on the Toronto Stock Exchange and the NYSE-American, with its common shares trading under the symbols AUG.TO and AUG, respectively.

The subject of this document is the Homestake Ridge Gold Project located in the so-called Golden Triangle of north-central British Columbia. The Company is the 100 percent owner and operator of the Homestake Ridge Project which comprises 7,484.37 ha of mineral claims and crown grants.

2.2 Terms of Reference

This document presents the results of an updated Mineral Resource Estimate and Preliminary Economic Assessment (PEA) of the Homestake Ridge Project. The PEA was prepared in accordance with standard industry practices and in accordance with CIM Definition Standards on Mineral Resources and Reserves (dated May 10, 2014), and Canadian Securities Administrators National Instrument 43-101 (Standards of Disclosure for Mineral Projects) dated June 30, 2011. The effective date of this Technical Report is May 29, 2020.

2.3 Sources of Information

The Homestake Ridge Project has been the subject of several prior NI43-101 compliant Technical Reports. The most recent was completed by Roscoe Postle Associates Inc. (RPA) dated September 29, 2017 (later amended on October 23, 2017). This document included an updated mineral resource estimate.

Prior Technical Reports on Homestake Ridge include:

■ A 2013 Technical Report dated June 7, 2013 by Macdonald and Rennie for Homestake Resource Corporation.

■ A 2011 Technical Report dated May 20, 2011 by RPA for Bravo Gold Corp.

■ A 2010 Technical Report dated June 28, 2010 by Scott Wilson RPA for Bravo Gold Corp.

■ A 2007 Technical Report dated April 11, 2007 and amended on June 3, 2008 by Folk and Makepeace for Bravo Venture Group.

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Bravo Gold also completed a number of engineering studies on the site including:

■ A January 24, 2012 geotechnical assessment of the proposed new road extension for the Homestake Ridge Access Road by Golder Associates.

■ A February 27, 2012 preliminary geotechnical assessment of the proposed mine infrastructure sites for the Homestake Ridge Project by Golder Associates.

■ A Road Design Package for the Homestake Ridge access road by AllNorth Consultants dated March 20, 2009.

■ A Kitsault River Road Review Inspection report by AllNorth Consultants dated August 26, 2010.

■ A Homestake Ridge Mainline Access Road Feasibility Study by AllNorth Consultants dated March 3, 2012.

■ Conceptual mine site layouts and run of river hydropower assessments by Knight Piesold dated June 1, 2011.

■ A preliminary power study supply assessment by Knight Piesold dated April 23, 2011.

■ A report on integration of Hydroelectric power within the mine development concepts by Knight Piesold dated June 1, 2011.

■ A plant site and tailings storage facility alternatives assessment by Knight Piesold dated May 19, 2011.

■ A conceptual cost estimate for tailings disposal by Knight Piesold dated May 13, 2011.

■ An October 11, 2011 site inspection report by Knight Piesold.

■ A preliminary ore sorting investigation and benchtop amenability test by Commodas Ultrasort/Tomra Sorting Solutions dated June 14, 2012.

The project library includes a number of other supporting documents, drawings and historical data related to hydroelectric power in the Kitsault region, at the adjacent Kitsault Lake, and at Anyox.

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2.4 Qualified Persons

The Qualified Persons for this Technical Report are as listed in Table 2-1 below.

Table 2-1

Qualified Persons

Qualified Person Company Responsible Sections Site Visit Dates Dr. David Stone, P.E. MineFill Services, Inc. All report sections except: Sections 5-12, Section 14 Section 20 None Philip Geusebroek, P.Geo. RPA Sections 10-12 Section 14 None Paul Chamois, P.Geo. RPA Sections 5 – 9 Aug. 26-28, 2017 Mary Mioska, P.Eng. OneEighty Consulting Section 5.4 Section 20 None

2.5 Personal Inspection

Paul Chamois, M.Sc. (A), P.Geo., Principal Geologist with RPA and an independent QP, visited the Project from August 26 to 28, 2017. During the visit, Mr. Chamois examined core from the on-going drilling program, confirmed the local geological setting, reviewed the core handling and data collection methodologies, and investigated factors that may affect the Project. Due to the advanced nature of the Project, no independent samples were taken during the visit.

In the QP’s opinion, the limited work carried out during 2018 and 2019 is not material to the project. None of the post-2017 exploration work was utilized in the resource estimation outlined in Section 14, nor in the Preliminary Economic Assessment. The QP’s have reviewed Auryn’s regulatory filings, assessment reports, news releases and databases to verify that no material work was completed on the property post 2017.

None of the other Qualified Persons have visited the project site.

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2.6

Terms and Definitions Units of measurement used in this report conform to the metric system. a annum L litre A ampere lb pound bbl barrels L/s litres per second btu British thermal units m metre °C degree Celsius M mega (million); molar C$ Canadian dollars m 2 square metre cal calorie m 3 cubic metre cfm cubic feet per minute micron cm centimetre MASL metres above sea level cm 2 square centimetre g microgram d day m 3 /h cubic metres per hour dia diameter mi mile dmt dry metric tonne min minute dwt dead-weight ton m micrometre ° F degree Fahrenheit mm millimetre ft foot mo month ft 2 square foot mph miles per hour ft 3 cubic foot Mtpa Million tonnes per annum ft/s foot per second Mtpd Million tonnes per day g gram MVA megavolt-amperes G giga (billion) MW megawatt Gal Imperial gallon MWh megawatt-hour g/L gram per litre oz Troy ounce (31.1035g) Gpm Imperial gallons per minute oz/st, opt ounce per short ton

gpt gram per tonne ppb part per billion gr/ft 3 grain per cubic foot ppm part per million gr/m 3 grain per cubic metre psia pound per square inch absolute ha hectare psig pound per square inch gauge hp horsepower RL relative elevation hr hour s second Hz hertz t tonne in 2 square inch tpa tonnes per year J joule tpd tonnes per day k kilo (thousand) US$ United States dollar kcal kilocalorie USg United States gallon kg kilogram USgpm US gallon per minute km kilometre V volt km 2 square kilometre W watt km/h kilometre per hour wmt wet metric tonne kPa kilopascal wt% weight percent kVA kilovolt-amperes yd 3 cubic yard kW kilowatt yr year kWh kilowatt-hour

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3. RELIANCE ON OTHER EXPERTS

The authors are not qualified to provide an opinion or comment on issues related to legal agreements, royalties, permitting matters, and taxes.

The authors of this Technical Report have relied on non-QPs for Section 4.3, Mineral Tenure.

For the purpose of this report, the Qualified Person’s have relied on ownership information provided by Auryn and Broughton Law Corporation (Broughton Law), regarding title to the Homestake Ridge Project. Broughton Law provided a legal review and opinion dated September 7, 2016. This information was used in Sections 1 and 4 of this report. The Qualified Persons have not researched property title or mineral rights for the Homestake Ridge Project and expresses no opinion as to the ownership status of the property.

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4. PROPERTY DESCRIPTION AND LOCATION

4.1 Location

The Homestake Ridge Project covers 7,484.37 hectares and is located 32 km southeast of Stewart, BC, and approximately 32 km north-northwest of the tidewater communities of Alice Arm and Kitsault, BC (Figure 4.1). The property is located on 1:50,000 scale NTS map 102/P13.

The four claim blocks comprising the Project are located within a rectangular area extending for a distance of approximately 23 km in a north-south direction and approximately 13 km in an east-west direction. The claim block hosting the known Mineral Resources is centered on approximately 55° 45’ 12.6" N latitude and 129° 34’ 39.8" W longitude on Terrain Resource Integrated Management (TRIM) maps 103P072 and 103P073 and lies within Zone 9 of the UTM projection using the NAD’83 datum.

Figure 4.1: Homestake Ridge Project Location Map

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4.2 Project Ownership

On June 14, 2016, Auryn announced that it had entered into a binding letter agreement with Homestake Resource Corporation (Homestake) whereby it would acquire Homestake under a plan of arrangement (the Arrangement). In consideration for 100 percent of Homestake’s issued and outstanding shares, Auryn would issue approximately 3.3 million shares to Homestake shareholders. During the Arrangement process, Auryn also agreed to provide Homestake with a demand loan of up to C$150,000 on an interest free, unsecured basis. On September 8, 2016, Auryn announced that it had completed the Arrangement and that Homestake had become a wholly owned subsidiary of Auryn.

4.3 Mineral Tenure

The Project comprises four non-contiguous blocks consisting of seven crown granted claims covering 96.712 ha and 37 mineral claims covering 7,484.37 ha (Figure 4.2). Table 4-1 lists the mineral claims along with the relevant individual tenure information including tenure number and name, issue and expiry dates, title type, and area. Table 4-2 lists the crown granted claims.

The crown grants include surface rights whereas the mineral claims do not.

There are no holding costs or work expenditure requirements for the crown grants other than roughly C$300 per year in property taxes.

The mineral claims are subject to minimum work requirements of:

■ C$5 per hectare for anniversary years 1 and 2;

■ C$10 per hectare for anniversary years 3 and 4;

■ C$15 per hectare for anniversary years 5 and 6; and

■ C$20 per hectare for subsequent anniversary years.

Expenditures in 2019, on the mineral claims shown in Table 4-1, amounted to C$860,000.

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Table 4-1

Homestake Mineral Claims

Title Number Claim Name Owner Name Client # Issue Date Good to Date Area (ha) Protected Tenure Sub Type Description Title Type Description Title Type Code Tenure Type Code 950714 BRAVO N1 HOMESTAKE RESOURCE CORPORATION 202433 February 19, 2012 June 13, 2029 327.49 N CLAIM Mineral Cell Title Submission MCX M 950719 BRAVO N2 HOMESTAKE RESOURCE CORPORATION 202433 February 19, 2012 June 13, 2029 436.51 N CLAIM Mineral Cell Title Submission MCX M 950722 BRAVO N3 HOMESTAKE RESOURCE CORPORATION 202433 February 19, 2012 June 13, 2029 436.50 N CLAIM Mineral Cell Title Submission MCX M 950724 BRAVO N4 HOMESTAKE RESOURCE CORPORATION 202433 February 19, 2012 June 13, 2029 272.81 N CLAIM Mineral Cell Title Submission MCX M 950725 BRAVO N5 HOMESTAKE RESOURCE CORPORATION 202433 February 19, 2012 June 13, 2029 381.82 N CLAIM Mineral Cell Title Submission MCX M 950726 BRAVO N6 HOMESTAKE RESOURCE CORPORATION 202433 February 19, 2012 June 13, 2029 418.04 N CLAIM Mineral Cell Title Submission MCX M 950727 BRAVO N7 HOMESTAKE RESOURCE CORPORATION 202433 February 19, 2012 June 13, 2029 417.96 N CLAIM Mineral Cell Title Submission MCX M 1011645 KN HSR 1 HOMESTAKE RESOURCE CORPORATION 202433 August 1, 2012 March 9, 2023 273.86 N CLAIM Mineral Cell Title Submission MCX M 1061421 NR HOMESTAKE RESOURCE CORPORATION 202433 August 25, 2006 August 30, 2029 18.20 N CLAIM Mineral Cell Title Submission MCX M 251427 CAMBRIA 1 HOMESTAKE RESOURCE CORPORATION 202433 May 6, 1986 December 17, 2029 100.00 N CLAIM Four Post Claim MC4 M 251428 CAMBRIA 2 HOMESTAKE RESOURCE CORPORATION 202433 May 6, 1986 December 17, 2029 75.00 N CLAIM Four Post Claim MC4 M 377241 WK 1 HOMESTAKE RESOURCE CORPORATION 202433 May 23, 2000 December 17, 2029 250.00 N CLAIM Four Post Claim MC4 M 377242 WK 2 HOMESTAKE RESOURCE CORPORATION 202433 May 23, 2000 December 17, 2029 500.00 N CLAIM Four Post Claim MC4 M 377243 WK 3 HOMESTAKE RESOURCE CORPORATION 202433 May 23, 2000 December 17, 2029 400.00 N CLAIM Four Post Claim MC4 M 380949 WK 4 HOMESTAKE RESOURCE CORPORATION 202433 September 20, 2000 December 17, 2029 450.00 N CLAIM Four Post Claim MC4 M 380950 WK 5 HOMESTAKE RESOURCE CORPORATION 202433 September 20, 2000 December 17, 2029 450.00 N CLAIM Four Post Claim MC4 M 380951 KW 1 HOMESTAKE RESOURCE CORPORATION 202433 September 20, 2000 December 17, 2029 25.00 N CLAIM Two Post Claim MC2 M 380952 KW 2 HOMESTAKE RESOURCE CORPORATION 202433 September 20, 2000 December 17, 2029 25.00 N CLAIM Two Post Claim MC2 M 380953 KW 3 HOMESTAKE RESOURCE CORPORATION 202433 September 20, 2000 December 17, 2029 25.00 N CLAIM Two Post Claim MC2 M 383016 KW 5 HOMESTAKE RESOURCE CORPORATION 202433 November 28, 2000 December 17, 2029 25.00 N CLAIM Two Post Claim MC2 M 383017 KW4 HOMESTAKE RESOURCE CORPORATION 202433 November 28, 2000 December 17, 2029 25.00 N CLAIM Two Post Claim MC2 M 383037 WK 6 HOMESTAKE RESOURCE CORPORATION 202433 November 28, 2000 December 17, 2029 150.00 N CLAIM Four Post Claim MC4 M 383038 WK 7 HOMESTAKE RESOURCE CORPORATION 202433 November 28, 2000 December 17, 2029 400.00 N CLAIM Four Post Claim MC4 M 537435 HR HOMESTAKE RESOURCE CORPORATION 202433 July 20, 2006 December 17, 2029 127.45 N CLAIM Mineral Cell Title Submission MCX M 537436 HRMARGIN 1 HOMESTAKE RESOURCE CORPORATION 202433 July 20, 2006 December 17, 2029 109.25 N CLAIM Mineral Cell Title Submission MCX M 537437 HRMARGIN2 HOMESTAKE RESOURCE CORPORATION 202433 July 20, 2006 December 17, 2029 54.60 N CLAIM Mineral Cell Title Submission MCX M 538791 HOMESTAKE RIDGE 1 HOMESTAKE RESOURCE CORPORATION 202433 August 5, 2006 December 17, 2029 18.21 N CLAIM Mineral Cell Title Submission MCX M 540533 HOMESTAKE RIDGE 2 HOMESTAKE RESOURCE CORPORATION 202433 September 6, 2006 December 17, 2029 18.20 N CLAIM Mineral Cell Title Submission MCX M 540540 HOMESTAKE RIDGE 3 HOMESTAKE RESOURCE CORPORATION 202433 September 6, 2006 December 17, 2029 18.21 N CLAIM Mineral Cell Title Submission MCX M 545945 HOMESTAKE RIDGE 4 HOMESTAKE RESOURCE CORPORATION 202433 November 27, 2006 December 17, 2029 18.20 N CLAIM Mineral Cell Title Submission MCX M 565708 HOMESTAKE RIDGE 5 HOMESTAKE RESOURCE CORPORATION 202433 September 7, 2007 December 17, 2029 36.42 N CLAIM Mineral Cell Title Submission MCX M 565709 HOMESTAKE RIDGE 6 HOMESTAKE RESOURCE CORPORATION 202433 September 7, 2007 December 17, 2029 18.21 N CLAIM Mineral Cell Title Submission MCX M 565710 HOME STAKE 7 HOMESTAKE RESOURCE CORPORATION 202433 September 7, 2007 December 17, 2029 18.20 N CLAIM Mineral Cell Title Submission MCX M 598667 VANGUARD GOLD HOMESTAKE RESOURCE CORPORATION 202433 February 3, 2009 December 17, 2029 18.21 N CLAIM Mineral Cell Title Submission MCX M 598668 VANGUARD EXTENSION HOMESTAKE RESOURCE CORPORATION 202433 February 3, 2009 December 17, 2029 54.66 N CLAIM Mineral Cell Title Submission MCX M 1015450 KINSKUCH NW2 HOMESTAKE RESOURCE CORPORATION 202433 December 22, 2012 December 17, 2029 1039.18 N CLAIM Mineral Cell Title Submission MCX M 1015588 HS SOUTH 1 HOMESTAKE RESOURCE CORPORATION 202433 December 31, 2012 December 17, 2029 36.44 N CLAIM Mineral Cell Title Submission MCX M Number of Claims: 37 Total Area (ha): 7468.64

Source: Auryn, 2019

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Table 4-2

Crown Grants

District Lot Claim Name CTGVRNNGPR PRCLTP SRVRGNRLPL STTFPRCLSR Area (ha) CRWNGRNTNO Mining Division Lot Status 3975 HOMESTAKE Mineral Tenure Act Primary 37TR7 CASSIAR Active 20.902 4004/511 SKEENA CROWN GRANTED 3978 HOMESTAKE NO. 3 Mineral Tenure Act Primary 37TR7 CASSIAR Active 13.962 4007/311 SKEENA CROWN GRANTED 3977 HOMESTAKE NO. 2 Mineral Tenure Act Primary 37TR7 CASSIAR Active 15.042 4006/511 SKEENA CROWN GRANTED 3976 HOMESTAKE NO. 1 Mineral Tenure Act Primary 37TR7 CASSIAR Active 20.283 4005/511 SKEENA CROWN GRANTED 3980 HOMESTAKE NO. 1 FRACTION Mineral Tenure Act Primary 37TR7 CASSIAR Active 4.702 5622/527 SKEENA CROWN GRANTED 3979 HOMESTAKE FRACTION Mineral Tenure Act Primary 37TR7 CASSIAR Active 0.919 5621/527 SKEENA CROWN GRANTED 6322 MILLSITE Land Act Primary 1TR8 CASSIAR Active 20.902 8826/859 SKEENA CROWN GRANTED Total Crown Grant: 7 Total Area (ha): 96.712

Source: Auryn, 2019

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Source: Auryn

Figure 4.2: Mineral Claims

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4.4 Royalties and Encumbrances

Homestake earned a 100 percent interest in 14 Homestake Ridge mineral claims through its option with Teck Cominco Limited, now Teck Resources (Teck). Teck failed to exercise its back-in rights in 2008 but retained a 2 percent net smelter return (NSR) royalty, 1 percent of which could be purchased at a future date for C$1.0 million. On May 16, 2016 Homestake announced that it had closed an agreement with Teck to purchase the 2 percent royalty and ancillary rights for C$100,000, effectively extinguishing this royalty.

The Coombes Claims (including Cambria 1, Cambria 2, KW1, KW2, KW3, KW4, KW5, WK1, WK3, WK4, WK6 and WK7) are subject to a 2 percent NSR royalty by virtue of an option agreement dated July 5, 2000. The royalty includes a purchase right in favour of Homestake for C$1,000,000.

The crown grants (including DL 3975, DL 3976, DL 3977, DL 3978, DL 3979, DL 3980, and DL 6322) are subject to a 2 percent NSR royalty which includes an annual advanced minimum royalty of C$50,000 in favour of Alice Sullivan and Mildred Keller.

A map of the claims subject to royalty is attached in Figure 4.3.

4.5 Property Agreements

The authors are not aware of any other underlying agreements, obligations or back-in rights related to the Property other than those disclosed herein.

4.6 Permitting Considerations

Auryn Resources currently holds a Mineral and Coal Activities and Reclamation Permit (Permit No. MX-1-603) that includes the following approved work:

■ Camp with 1.0 ha of disturbance

■ Geophysical surveys of 50 line km

■ Surface drilling at 500 drill sites

■ 6 helipads and

■ 2 km of exploration trails.

The above permit is secured with a C$68,000 reclamation bond and all work must be complete by March 23, 2023.

The Company has also been granted a Free Use Permit (No. MX-1-603:2018-2023) for the harvesting of Crown timber on the Crown granted lands.

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Source: Auryn

Figure 4.3: Claims Subject to Royalty

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4.7 Environmental Considerations

The Homestake Ridge Property is a greenfield site with no known pre-existing development or environmental liabilities.

4.8 Social License Considerations

Auryn does not have any Community or Social Agreements in place.

4.9 Comments on Section 4

The authors are not aware of any significant factors or risks that may affect access to the project site, or the right and ability to perform work on the property.

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5. ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE, AND PHYSIOGRAPHY

5.1 Site Access

The Homestake Ridge Project is located 32 km southeast of Stewart, BC, at the southern extent of the Cambria ice field. Access to the Project from the town of Kitsault is by boat/barge to the community of Alice Arm. From there, an upgraded tractor trail follows an old railway bed for a distance of 32 km into the area of the past producing Dolly Varden silver mine, approximately four kilometres from the southern boundary of the Project. From there, overgrown mule trails lead to the historic workings of the Vanguard and Homestake areas of the Project (Figure 5.1).

In the absence of upgraded road access, the site is only accessible by helicopter as shown in Figure 5.1 . Helicopters are available for charter from either Prince Rupert, Terrace, or Stewart.

5.2 Climate

Climate in the area is transitional, with moderately wet to dry, warm summers, and cool, wet winters (Ministry of Forests, 1993) driven by moist Pacific air that brings intense precipitation to the windward slopes and adjacent mountains, and by the cold Arctic air to pass down the Portland Canal through onto the Dixon Entrance (Demarchi, 2011). The area is classified as Oceanic or Marine West Coast and is characterized by moderately cool summers and mild winters with a narrower annual range of temperatures compared to sites of similar latitude. Climate data derived from historic monitoring stations at Alice Arm, and more recent long-ranging monitoring at Stewart and Nass Camp Table 5-1 ) indicates that temperatures range from an average low of - 6°C in January to an average high of 15°C in July. The mean temperature for the year is 5°C.

The area receives between 984 – 1,838 mm of precipitation each year (expressed in mm of water Table 5-1). Rainfall peaks in October with 150 mm. Snowfall is highest in December and January when accumulations are 287 cm and 86 cm, respectively, at Nass Camp (Government of Canada, 2019). Precipitation and heavy fog often impact on airborne access to the Project (RPA, 2017).

The property is reported to be covered in snow from late September to late June (Bryson, 2007). The ground is generally frozen throughout the winter and breakup occurs between early March and late May (Ministry of Forests, 1993). Rainfall / snowfall distribution ranges from 45 – 55 percent (Knight Piesold, 2011).

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Homestake Ridge Project NI43-101F1 Technical Report

Source: MineFill Services, Inc.

Figure 5.1: Site Access

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Table 5-1

Climatic Data

Alice Arm Stewart Nass Camp Meteorological Location ID 1060330 & 1060331 1067742 1075384 Latitude 55°28'00" N 55°56'10" N 55°14'15" N Longitude 129°28'00" W 129°59'06" W 129°01'47" W Elevation 1.50 m 7.3 191 Distance from Project 31 km 34 km 65.5 Period of Record 1948-1964 & 1973-1978 1974-2016 1971-2017 Mean January Temperature -5.7 -3.0 -5.4 Mean July Temperature 14.5 15.1 15.8 Extreme Maximum Temperature 33.9 33.4 36.0 Extreme Minimum Temperature -25.0 -25.6 -32.5 Average Annual Precipitation 1792.0 1837.8 984.2 Average Annual Rainfall 1192.3 1317.3 725.1 Average Annual Snowfall 530.6 548.5 259.2

5.3 Local Resources and Infrastructure

The nearest communities to the Homestake project site include the towns of Kitsault and Alice Arm, roughly 35 km distant. Both of these towns are essentially ghost towns with few residents and no services.

Labour and supplies for the project can be brought in from the community of Terrace, which lies 185 km to the south, along Highway 113. Terrace has a population of 11,643 (2016 census) and hosts a wide range of supplies, services, and trained labour. Terrace is serviced by three air carriers with daily scheduled flights.

Stewart with a population of 400 (2016 census) is located 240 km, by road, from Kitsault. Stewart is well serviced, has trained labour with mining expertise, and hosts a deep-sea port that has been used for shipping ore and concentrate from other mines. Concentrates and bulk supplies, such fuel, could be barged between Alice Arm and Stewart, an ocean distance of some 225 km.

Kitwanga, 180 km by road from Kitsault, lies on the Canadian National Railway mainline and Trans-Canada Highway 16. Like Stewart, Kitwanga has served as a shipping centre for mineral ores and concentrates. Mining is supported in the local communities and, historically, companies have been able to form productive joint venture partnerships with local First Nations.

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5.4 Physiography

5.4.1 Terrain

The project area is situated in steep terrain on the geologic boundary between the Coastal Belt and the Intermontane Belt, within an elevation range of 500 to 1100 masl (Knight Piesold, 2011). The project area lies at the transition from the Southern Boundary Ranges to the Meziadin Mountains ecosections (iMapBC, 2020). The Southern Boundary Ranges ecosection is an area of wet rugged mountains that are capped with glaciers, small icefields and exposed granitic and metamorphic bedrock. This area was heavily impacted by large sheets of ice that originated along the crest of the mountains and the area south of the Homestake Ridge Project is bisected by the Portland Canal (Demarchi, 2011). The Meziadin Mountains comprise the leeward side of the main Boundary Ranges and extend west of the low Nass Basin. Ice that formed in the Boundary Ranges moved east into the Nass Basin, coalescing with ice moving south from the adjacent Skeena Mountains, then the entire ice mass moved down out the Nass Valley to the Dixon Entrance or south through Cranberry Upland Ecosection to the Skeena River valley. The mountain summits still have small icefields or glaciers (Demarchi, 2011).

The area is characterized by steep headwater streams and gullies that drain the mountainsides, carrying water, sediment and organic materials to the fans and floodplains that line valley bottoms. Lakes head some valleys. Small wetlands are common on floodplains, but extensive wetlands are uncommon (Price and McLennan, 2001).

5.4.2 Vegetation

The Project overlays a south-southeast trending ridge at the headwaters of the Kitsault River and the lower portions of the Kitsault and Little Kitsault Glaciers. The eastern and southern portions of the property at lower elevations is subalpine forest, comprised of subalpine fir, western hemlock, Roche spruce, and mountain hemlock. East of this ridge, the subalpine forest is broken up by a large slide area that is covered by slide alder, grass, and lichen. Alpine areas are extensive at higher elevations, but are mainly barren rock or ice covered. Many large remnant icefields and glaciers remain on the summits north-west of the project area (Demarchi, 2011). The upper slopes are populated by alpine grass, moss, and lichen with intermittent patches of dwarf alpine spruce (Knight and Macdonald, 2010).

Regionally, the vegetation in the area is driven by the transitional nature of the climate on the leeward side of the Coast Mountains, and consequently combines elements of both coastal and interior flora (BC Ministry of Forests, 1993). In the valley bottoms, in the subalpine area, the understory vegetation includes a wide variety of shrub and herbaceous species, including salmonberry, bunchberry, various currants, five-leaf bramble, common snowberry, vine maple, sword fern, twinflower, deer fern, western trillium and others (Wright and Ebnet, nd). In the lower slopes of Portland Canal, the forests are either very wet, such as coastal western hemlock or, cold and wet, such as the subalpine mountain hemlock forests that occur on all the middle elevation slopes (Demarchi, 2011).

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There are no federally or provincially identified plant species at risk in the project area (BC Conservation Data Centre, 2020). The nearest observed plant species at risk is Polystichum setigerum (Alaska holly fern), observed in 1975 in lower Kitsault River approximately 2.5 km upstream from Alice Arm, classified as being of “special concern” (BC Conservation Data Centre, 2020).

5.5 Seismicity

The town of Stewart is located in a zone of low to moderate seismicity with a peak ground acceleration of 0.031g for events with a 10 percent exceedance in 50 years (e.g. one in 1000-year event). As can be seen in Figure 5.2 earthquake frequency map, the main source of seismic risk is from the Cascadia subduction zone, located 200 km from the Project site, off the coast of British Columbia.

Source: Natural Resources Canada

Figure 5.2: Earthquake Epicenter Map for Events in the Past 50 Years

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5.6 Comments on Section 5

The Homestake Ridge Project is a remote greenfields site with no existing roads, power, water or camp infrastructure. Development of the project will require:

■ Upgrading and extending the current access road to allow the movement of freight, consumable supplies and manpower

■ Installing local hydro or diesel power, or connecting to the nearby BC Hydro grid

■ Construction of a person-camp to allow drive-in, drive-out (DIDO) manpower rosters

■ Development of local water resources for potable and non-potable water consumption.

In the opinion of the Qualified Persons, the Homestake Ridge Project site offers adequate surface rights and land suitable for the construction of a processing plant, tailings facility, waste rock dumps, and a person-camp. The project site has several suitable sources of water pending the necessary approvals.

The required infrastructure for project development is discussed in Section 18 of this Technical Report, and the capital required is included in the Financial models.

Winter conditions are expected to prevail from October through to the following May, and this may impair year-round operations if the property were to be placed in production.

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6. HISTORY

The following Property History is taken from RPA (2017).

6.1 Prior Ownership

Claims were first staked at the Homestake group between 1914 and 1917 and, in 1918, the claims were bonded to the Mineral Claims Development Company (MCDC). MCDC was reorganized into the Homestake Mining and Development Company (Homestake Development) in 1921.

6.2 Exploration History

The following is taken from Macdonald and Rennie (2016).

The Homestake Ridge property comprises two areas of historic exploration. The Homestake and the Vanguard groups have been tested by past explorers starting in the early 1900s after the discoveries at Anyox and in the Stewart region. Claims were first staked at the Homestake group between 1914 and 1917 and, in 1918, the claims were bonded to the MCDC. MCDC was reorganized into Homestake Development in 1921. Limited surface and underground work was done on the property. In 1925, the claims were given “Crown Grant” status. In 1926,

Homestake Development and three other groups bonded to the interests of C. Spencer. The option was abandoned, with no further work being done on the property (Knight and Macdonald, 2010).Arm staked the area and conducted surface trenching, limited underground work and drilled seven holes to an aggregate depth of 58.2 m, on the Lucky Strike and Cascade claims which comprise part of the Homestake group (Knight and Macdonald, 2010).

In 1966, Canex Aerial Exploration Ltd. (Canex) undertook a program of prospecting, geochemical sampling, electromagnetic (EM) surveying, and chip sampling in the Vanguard area. In 1967, Amax Exploration conducted and extended examination of the Vanguard group but did not return (Folk and Makepeace, 2007). Dwight Collison died in 1979.

In 1979, Newmont Exploration of Canada Ltd. (Newmont) optioned part the property, known as the Wilberforce group, from Collison’s widow, Ruby Collison. The Wilberforce group excluded the original Homestake and Vanguard claims. Newmont explored for near surface, massive sulphides conducting magnetometer and Max-Min geophysical surveys, geological mapping, and trenching. A total of 595 soil samples and 82 rock samples were assayed.

Newmont terminated the option in late 1980 (Folk and Makepeace, 2007).

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Caulfield Resources Ltd. explored over the Vanguard group in 1981 taking 102 soil samples and conducting 5.25 line km of ground magnetic surveys, but no subsequent work was done (Folk and Makepeace, 2007).

Homeridge Resources Ltd. optioned the property from Ruby Collison in 1984, but no work was done (Bryson, 2007). The claims were allowed to lapse in 1986, were re-staked and optioned to Cambria Resources Ltd. (Cambria), which completed geological mapping, lithogeochemical sampling, trenching, and 4.3 line km of IP and resistivity surveying. Weather deferred drilling for that year and the ground was eventually optioned to Noranda Exploration Company Limited (Noranda) (Folk and Makepeace, 2007).

Between 1989 and 1991, Noranda consolidated ground by optioning more area including the Cambria (formerly Collison), Homestake, and Vanguard claims. A 44.3 km grid was cut along which magnetometer and IP surveys were performed in addition to geological mapping. A total of 1,930 rock samples and 1,943 silt and soil samples were taken. Twelve diamond drill holes were cored (diameter unknown) for an aggregate depth of 1,450.05 m (Folk and Makepeace, 2007).

Teck acquired the current Homestake Ridge property in 2000 via option agreements and staking. From 2000 to 2002, Teck conducted geochemical and geological surveys, trenching, and diamond drilling, exploring for volcanogenic massive sulphide (VMS) deposits. A total of 21 NQ (47.6 mm dia.) holes were drilled to an aggregate depth of 4,374.6 m yielding 618 core samples. In addition, 778 rock samples were analyzed by Inductively Coupled Plasma (ICP) multi-element geochemistry plus Au and another 31 samples were subjected to “whole rock” X-Ray Fluorescence (XRF) analysis (Folk and Makepeace, 2007).

From 2010 to 2012, Homestake completed additional surface exploration including further mapping, soil and rock sampling and 13.54 line km of IP geophysical surveys, and diamond drilling.

In 2011 a new discovery was made 800 m to the southwest of, and parallel to, the previously discovered Main Homestake and Homestake Silver deposits. This area, known as the South Reef target was tested by three holes with all three intersecting +30 g/t gold mineralization.

During 2012, Homestake completed two phases of drilling focussed on the delineation and extension of the South Reef target. The second phase of drilling was funded by Agnico Eagle Mines Limited (Agnico Eagle) as part of an option agreement (see below). The 2012 drilling was successful in identifying an approximate 250 m strike by 250 m down dip before ending in, or being offset by, a major fault structure. Mineralization is open along strike to the northwest. Other targets on the property remain to be explored.

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Agnico Eagle optioned the property from Homestake in 2012. In 2013, Agnico Eagle completed an exploration program consisting of geological mapping, soil sampling (785 samples), approximately 21 line km of ground geophysical surveying including IP/resistivity and magnetics and a 10-hole drilling program totalling 3,947.24 m. The drilling was meant to test various exploration targets outside of the Homestake Main and Homestake Silver deposits (Swanton et al., 2013). In 2014, Agnico Eagle completed a limited amount of prospecting, reconnaissance geological mapping and rock sampling (57 samples) as well as a 6-hole drilling program totalling 2,578 m designed to test the Slide Zone. The drilling suggested that the Slide Zone is concordant with the Homestake Main and Homestake Silver Zones and trends north northwesterly and dips steeply to the northeast.

6.3 Production

There has been no historic production at the Homestake Ridge property.

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7. GEOLOGICAL SETTING AND MINERALIZATION

7.1 Regional Geology

Section 7 of this report is taken from Macdonald and Rennie (2016).

Four major building blocks constitute the terrane superstructure of northwestern British Columbia (Colpron and Nelson (2011): a western block of poly-deformed, metamorphosed Proterozoic to middle Paleozoic peri-continental rocks (Nisling Assemblage); an eastern block of exotic oceanic crustal and low-latitude marine strata (Cache Creek Terrane); central blocks including Paleozoic Stikine Assemblage and Triassic arcvolcanic and flanking sedimentary rocks of Stikine Terrane; and overlying Late Triassic to Middle Jurassic arc-derived strata of the Whitehorse Trough (including the Inklin overlap assemblage).

The following description of the Regional Geology is derived from Kasper and Metcalfe (2004), Knight and Macdonald (2010).

The Homestake Ridge property is located within a lobe of Upper Triassic to Middle Jurassic strata exposed along the western edge of the Bowser Basin within the Stikinia Terrane of the Intermontane Belt. Stikinia formed in the Pacific Ocean during Carboniferous to Early Jurassic (320 Ma to 190 Ma) and collided with North America during the Middle Jurassic (Folk and Makepeace, 2007).

The Project occurs within the metallogenic region known as the Stewart Complex (Grove 1986, Aldrick, 1993). Described as the contact of the eastern Coast Plutonic Complex with the west-central margin of the successor Bowser Basin, the Stewart Complex ranges from Middle Triassic to Quaternary in age and is comprised of sedimentary, volcanic, and metamorphic rocks (Grove, 1986). The Stewart Complex is one of the largest volcanic arc terranes in the Canadian Cordilleran. It forms a northwest-trending belt extending from the Iskut River in the north and Alice Arm in the south. The Coast Plutonic Complex forms the western boundary of the prospective stratigraphy; continental derived sediments of the Bowser Lake Group form the eastern border. The Stewart Complex is host to more than 200 mineral occurrences including the historic gold mines Eskay Creek, Silbak-Premier and SNIP, as well as the Granduc, Anyox, and Dolly Varden-Torbrit base-metal and silver mines. The dominant mineral occurrences are precious metal vein type, with related skarn, porphyry, and massive sulphide occurrences (Knight and Macdonald, 2010).

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Stikinia, which contains both the Stewart Complex and the Homestake Ridge property, is comprised of at least four Paleozoic to Cenozoic tectonostratigraphic packages (Kasper and Metcalfe, 2004) including: Paleozoic Stikine Assemblage consisting of quartz-rich rocks, carbonate slope deposits, and minor mafic to felsic volcanic rocks; Early Mesozoic volcanic and inter-arc and back-arc basin sedimentary rocks; Middle to Upper Jurassic Bowser Basin turbiditic sedimentary rocks; and Tertiary post-kinematic granitoid intrusions of the Coast Plutonic Complex.

Magmatic episodes of Stikinia alternated with the development of sedimentary basins. These basins formed during the Late Triassic to Early Jurassic, the Toarcian to Bajocian (183 to 168 Ma) and the Bathonian to Oxfordian (168 Ma to157 Ma) ages. The basin which formed during the Toarcian-Bajocian is of considerable importance because this west-facing, north-trending back arc basin contains the Eskay Creek “contact zone” rocks (Hazelton Group), which are overlain by Middle and Upper Jurassic marine basin sediments (Bowser Lake Group).

At least two periods of deformation occurred in the region, a contractional deformation during the post-Norian-pre-Hettangian (204 Ma to 197 Ma) and an Early Jurassic hiatus. These periods of deformation are represented by unconformities one of which also separates two metalliferous events that took place in the Early Jurassic (e.g., Silbak-Premier and SNIP) and Middle Jurassic (e.g., Eskay Creek). Regional geology is shown in Figure 7.1.

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Figure 7.1: Regional Geology

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7.2 Local Geology

This section is derived from Kasper and Metcalfe (2004) and Knight and Macdonald (2010).

The Stuhini Group rocks are found in the cores of anticlines and represent the oldest known rocks in the area. These rocks are composed of a thick sequence of volcanic and sedimentary rocks of Upper Triassic (Norian) age, interpreted as the products of a volcanic arc. The volcanic Stuhini Group rocks are generally pyroxene-bearing, a contrast to the well-defined early crystallized hornblende phenocrysts commonly found in the Lower Jurassic Hazelton Group volcanic rocks. Kasper and Metcalfe noted that the re-evaluation of bedrock mapping in the Homestake Ridge area in 2002 resulted in the assignation of some lithologies on the property to the Stuhini Group.

The Hazelton Group overlies the Stuhini Group. The Lower Jurassic Hazelton Group is represented by a lower unit comprising massive, hornblende+feldspar-phyric andesitic to latitic ignimbrites, flows, and associated volcanic sedimentary rocks. Overlying these intermediate volcanic rocks is the Lower-Middle Jurassic Eskay Creek stratigraphy composed of marine felsic volcanic rocks and associated epiclastic sedimentary rocks and fossiliferous clastic sedimentary rocks. Kasper and Metcalfe noted that rocks of similar lithology and stratigraphic relationship have been identified in the Homestake Ridge area.

The dominant local intrusive rocks are of Cretaceous to Eocene age associated with the Coast Plutonic Complex. However, intrusive rocks identified in the Homestake Ridge area are hornblende+feldspar phyric and resemble Early Jurassic Texas Creek Suite rocks, which are related to important mineralization elsewhere in the Stewart Complex.

Important local deposits include the Dolly Varden-Torbrit Silver camp located ten kilometres south of the Homestake Ridge property, which produced 19.9 million oz Ag and 11 million lb Pb, and various properties in the Stewart area such as Red Mountain, Granduc, Silbak- Premier, and Brucejack Lake. Some of the mineralization on the Homestake Ridge property is thought to be similar in age and genesis to the VMS deposit at Eskay Creek, located about 115 km to the north-northwest. Figure 7.2 illustrates the Local Geology.

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Source: BC Energy and Mines Petroleum Resources, 2005

Figure 7.2: Local Geology

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7.3 Property Geology

This section is derived from Kasper and Metcalfe (2004), Knight and Macdonald (2010), and the results of mapping on the property by Auryn over the last several years (Figure 7.3).

The Property covers the transition between the sedimentary and volcanic rocks of the Upper Triassic to Lower Jurassic Stuhini Group, a complex sequence of Lower to Middle Jurassic sedimentary, volcanic, and intrusive rocks of the Hazelton Group and sedimentary rocks of the Upper to Middle Jurassic Bowser Lake Group. The Hazelton Group rocks on the Homestake property mark a transition from a high-energy volcanic dominated lower stratigraphy through a hiatus and into a fining sequence of volcanic tuffs and sediments punctuated by bi-modal mafic and felsic volcanism and finally into fine clastic sedimentation of the Salmon River Formation (Upper Hazelton Stratigraphy) and the Bowser Lake Group (Evans and Lehtinen, 2001). This sequence hosts many sulphide occurrences and extensive areas of alteration on the property which are associated with the Lower to Middle Jurassic stratigraphy.

Interpretation of the geophysical data paired with field mapping define the boundaries and internal stratigraphy of 4 northwest-trending domains numbered from SW to NE.

Domain 1 comprises Triassic sedimentary and volcaniclastic Stuhini Group rocks, underlie the southwest portion of the property. Intruded and silicified by sills and dikes of rhyolite/porphyritic monzonite. Posses a low relative magnetic signature. A second unit of relatively low magnetic signature which occupies the footwall of the Vanguard fault and a second fault panel in Domain 1 are pervasively altered Early Jurassic andesitic volcanic and volcaniclastic Hazelton Group rocks (V2UN) these are intruded along strike by similar sills and plugs of hornblende monzonite.

Early Jurassic Hazelton Group Betty Creek andesite, dacite and Brucejack Lake member (192 Ma) rhyolite/monzonite, comprise Domain 2. The western margin of Domain 2 is overthrust by the Triassic/Jurassic package of Domain 1 and is unconformably overlain by Middle Jurassic Salmon River sediments northwest of the Vanquard showing.

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Source: Auryn

Figure 7.3: Property Geology

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Early to earliest Mid-Jurassic Hazelton Group volcanic and volcaniclastic rocks of Betty Creek and Salmon River Bruce Glacier member (~174 Ma) comprise the central Domain 3, a northwest-trending package of varied- and strong magnetic signatures which locally depict south trending fabrics related to south-plunging folds and faults and younger southeasterly trending thrusting. The Lower Hazelton rocks comprise fine-grained to feldspar-hornblende phyric volcanic and volcaniclastic rocks of andesite to latite/trachyte composition and may include some phases of hypabyssal monzonite. This lower stratigraphy of the Hazelton extends along the length of the Homestake Ridge from the Main Homestake to the Vanguard Copper showings and is the host rock and footwall sequences to the three known mineral deposits, the Main Homestake, Homestake Silver and South Reef zones, as well as numerous other showings. Porphyritic monzonite dykes and hypabyssal domes intrude the Stuhini sediments and are believed to be coeval with the Lower Hazelton volcanic rocks. Greig et al. (1994) has related the Lower Hazelton Group feldspar-hornblende porphyry volcanic package to the Goldslide Intrusions at Red Mountain.

Thin, locally discontinuous units of matrix supported, feldspar-phyric volcanic breccias and heterolithic debris flow with tuffaceous and mudstone to sandstone interbeds cap the lower volcanic stratigraphy and are in turn unconformably overlain by maroon to green andesitic and dacitic volcaniclastic rocks and tuffs which form much of the central part of the Homestake Ridge property. These polylithic andesitic and dacitic pyroclastic to epiclastic rocks contain discrete mafic flows, tuffaceous beds, and debris flows. This andesitic volcanic package has been equated to the Betty Creek Formation (Evans and Macdonald, 2003).

The southwestern bounding structure to domain 3 is a southwest-verging thrust fault that occupies the north side of the Homestake glacier with hornblende monzonite (I2F) either in the immediate hanging wall or footwall of the fault.

Middle Jurassic Salmon River/Quock Formation and overlying Bowser Lake Group sedimentary rocks comprise Domain 4, covering the northeastern portion of the Property. Pyritic horizons within the Salmon River Formation define strong chargeability anomalies which parallel stratigraphy. These fine grained carbonaceous and sulphidic horizons are economic targets and are prone to localize slip and shear zones. North-northwest and northeast- trending dikes crosscut the Bowser Lake sediments.

The Salmon River sediments form a band of rock which unconformably overlie the volcanic flows and conglomerates of the underlying stratigraphy from the toe of the Kitsault Glacier southeast along the margins of Homestake Creek on the eastern side of the property. A tongue of these sediments infills a basin which formed to the southeast of the Homestake Silver Deposit. The fining-up nature of this unit reflects the general fining up nature of the Salmon River Formation as it progresses into the Bowser basin, and reflects the development of a large-scale basin at the end of Hazelton volcanism (Evans and Lehtinen, 2001).

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In the northern part of the property at the headwaters of Homestake Creek, rhyolitic volcanic rocks occur at the base of the Salmon River sediments. Greig et al. (1994) mapped this unit and suggested a correlation with the Mount Dilworth Formation of the Eskay Creek area. The rhyolites are light to dark grey, massive and vary from aphanitic to fine grained feldspar porphyritic banded flows to tuffs and breccias. Pyrite is ubiquitous throughout, occurring either as fine dissemination or infilling fractures and joints. A series of Mafic Dykes with chilled margins and an elevated Niobium signature were encountered intruding the Hazelton Group Rocks in the Homestake Silver Zone. Similar dykes have been mapped at surface intruding the Lower Hazelton Stratigraphy. These dykes are of unknown age.

The eastern part of the property is dominated by grey, interbedded siltstones and sandstones thought to be part of the Middle to Upper Jurassic Bowser Basin Group which conformably overlie the thin bedded graphitic argillites of the Salmon River formation.

Structure on the property largely reflects NE-SW compression that has continued from the Jurassic to present day (Folk and Makepeace, 2007), recent drilling and mapping suggest that the local stratigraphy has undergone several deformation events including uplift and local extension of the Stuhini and lower Hazelton stratigraphy resulting in a marked unconformity between the lower and upper Hazelton rocks.

In general, the structural development is reflected by the magnetic signature of strata in Domain 3 (andesites, +/- pyroxene basalts, rhyolite, dacite). The NW-SE fabric (lithology/folds) results from primarily north-trending folding and thrusting. This fabric is crosscut by North and North-east striking faults and dykes.

These compressional tectonics have resulted in an antiformal (or horsted) block of Triassic and lower Jurassic stratigraphy in the western side of the property and a synformal (graben like) block of middle to upper Jurassic rocks on the eastern side of the property. In the southeastern part of the property, these two regimes are separated by a northwest-striking, westerly dipping structure known as the Vanguard fault. The Vanguard fault is a northwest-trending, ~60o southwest dipping northeast verging structure characterized by up to 50 m of variably sheared QSP altered rock.

Uplift and local extension of the lower stratigraphy may have occurred during the same Early Jurassic compressional event. The earliest period of movement along the Vanguard fault may have occurred at this time.

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Northwest-southeast oriented normal faults occur along the northeastern slopes of Homestake Ridge and locally represent the southwestern wall of the “Hazelton Basin”. These faults would have been active from the Early to Middle Jurassic as pyroclastic and volcanic flows of the PC unit infilled the basin. Mineralizing fluids which lead to the deposition of the gold and silver deposits on the Project are thought to have been channelled along these faults. Northeast-southwest faults offset the Hazelton Group volcanic and older sedimentary rocks throughout the property. Younger Tertiary extensional faults may have been superimposed on these faults.

Large northeast trending ankerite bearing faults have been mapped and related to Tertiary east-west extension (Evans and Lehtinen, 2001).

7.4 Mineralization

The main zones of the Homestake Ridge deposit are the Homestake Main (HM), Homestake Silver (HS), and Silver Reef (SR). The HM is the more copper-rich of the zones, with both gold-rich and silver-rich variants and an apparent trend of increasing copper grade with depth. The Homestake Silver zone is primarily silver with elevated lead values, and South Reef is essentially high-grade gold, with minor copper and lead. Their locations are shown on Figure 7.4 below and a long section is shown on Figure 7.5.

The Homestake deposits are commonly vertically zoned from a base metal poor Au-Ag-rich top to an Ag-rich base metal zone over a vertical range of 250 m to 350 m. The silver-galena-sphalerite veins of the Homestake Silver Zone exhibit many of these features.

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Source: Auryn

Figure 7.4: Deposit Locations

Source: Auryn

Figure 7.5: Longitudinal Section Through the Homestake Ridge Deposit Looking North-East

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7.4.1 Homestake Main Deposit

The Homestake Main deposit consists of a series of silica to silica-carbonate-chlorite altered lenses and hydrothermal breccias, which have a northwest strike and dip moderately northeast at slightly steeper than the topographic dip-slope. Gold and silver mineralization occurs with pyrite, chalcopyrite, and lesser galena and sphalerite in stronger areas of silica alteration or hydrothermal brecciation within zones of sericite-pyrite altered feldspar-hornblende phyric volcanic rocks. Only along the southwestern flank of the Homestake Main deposit does lower grade gold mineralization penetrate up into the overlying package of basinal filling volcano-sedimentary and andesitic rocks which comprise the “hanging wall” sequence. Native gold along with pyrargyrite and acanthite have been observed hosted within quartz veins and quartz-carbonate hydrothermal breccias in drill core.

The Homestake Main deposit as currently known is about 700 m long and has been traced down-dip by drilling for a distance of approximately 500 m. At the surface, the northwestern extent of the mineralization is obscured by a glacier; while to the southeast surface geochemistry indicates that the zone continues towards the Homestake Silver deposit 700 m to the southeast. Widths of the Homestake Main Zone vary up to about 60 m (approximate true width) and are defined by assay grades due to the diffuse nature of the mineralization.

Grades for gold typically range from 0.1 g/t Au to 2 g/t Au with some intercepts measuring into the hundreds of grams per tonne and averaged at 7.75 g/t Au. Silver grades are generally in the 1.0 g/t Ag to 100 g/t Ag range but can be as high as hundreds and even thousands of grams per tonne. The average silver grade in the HM is 68.6 g/t Ag. Copper grades vary from parts per million to several percent, with mean grades observed to increase significantly with depth.

Gold distribution appears to be inhomogeneous and grades display a great deal of local variability. The zone has a complex form which may consist of a faulted series of lenses and related steeply dipping feeders.

7.4.2 Homestake Silver Deposit

Located 300 m to the southeast of the Homestake Main zone, the Homestake Silver deposit is comprised of a series of northwest trending, vertically to sub-vertically dipping hydrothermal breccias. Mineralization occurs as galena, sphalerite and silver in contrast to the gold enriched chalcopyrite seen the Homestake Main deposit. Modelling indicates that the Homestake Silver deposit can be traced over 700 m strike and 550 m down dip.

The Homestake Silver zone comprises a cluster of parallel structurally controlled zones, striking approximately 140° with near-vertical dips. The individual sub-zones in the Homestake Silver zone are narrower than the Homestake Main zones on average, with true thickness rarely exciding three metres. The Homestake Silver zone has been traced by drilling for a total vertical extent of approximately 600 m, along a strike length measuring just under 800 m.

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Silver grades at Homestake Silver average 154 g/t Ag, approximately double that of the HM (68.6 g/t Ag) and 26 times that of SR (5.8 g/t Ag). Gold grades at Homestake Silver typically range up to several g/t Au and averaged 3.5 g/t Au in the samples contained within the interpreted zone boundaries. Copper content is comparatively low, however, geochemically significant, and generally measures between 10 ppm Cu and 500 ppm Cu. There are elevated levels of lead and zinc, typically measuring in the 10 ppm to 1,000 ppm range, with some intercepts assaying as high as several percent lead and/or zinc. The lead and zinc grades at Homestake Silver are not expected to be consistently high to contribute significantly to the Project economics, although lead grades were estimated in the block model to facilitate metallurgical classification.

7.4.3 South Reef Zone

The South Reef deposit is located approximately 800 m to the south-southwest of the Homestake Silver deposit. Gold mineralization is variably associated with strong quartz-chlorite alteration, pyrite and minor base metal sulphides interspersed with intervals of sericite and pyrite alteration in two en-echelon, northwest-trending sub-vertical mineral zones that can be traced with drilling for over 250 m strike-length and 250 m dip. Several base-metal enriched intercepts are identified up-section from the gold-enriched zone but have yet to be fully defined by drilling.

The South Reef zone is comprised of two narrow sub-parallel tabular bodies which strike at approximately 120° to 130° and dip 70°NE to 80°NE. To date, only twelve holes have intersected significant mineralization, as such characterization of the structure and grades is preliminary. The zones measure one metre to three metres in thickness and have been traced for approximately 300 m vertically and 400 m along strike. Silver grades at South Reef average 5.8 g/t Ag in the vein samples. This is offset by high gold values, which average 5.9 g/t Au.

All three zones have elevated arsenic and antimony contents, typically averaging in the tens to low hundreds of parts per million.

7.5 Prospects/Exploration Targets

Numerous other mineral occurrences of interest are present on the project site. The significant mineral occurrences are described in the following sections. Locations are shown on Figure 7.6 None of the exploration targets have NI43-101 complaint Mineral Resources.

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Source: Auryn

Figure 7.6: Prospects/Exploration Targets

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7.5.1 Vanguard Cu and Au Zones

Located approximately 2.5 km southeast of the Homestake Zone, the Vanguard is an 1,800 m long, 150 m wide structural zone hosted in various pyroclastic and volcanic rocks. This area has undergone extensive exploration including 36 trenches and short adits. Most showings are located within a northwest striking, sub-vertically dipping zone containing diffuse sulphide veins, stockworks, sulphide breccia zones, and calcite-barite veins related to pervasive chlorite alteration. Gold-enriched mineralization occurs in the northern part of this belt and adjacent to and up-section from the South Reef gold zone. To the south, the mineralization is characterized by high grade copper with gold and silver (Folk and Makepeace, 2007).

Homestake drilled 13 holes in this area for a total 3,286 m aggregate depth.

7.5.2 Sericite Zone (Gold Reef, Fox Reef)

Located in a large area southwest of the Homestake Zone, the Sericite Zone comprises over 50 mineral occurrences hosted within pervasively sericite-pyrite altered FHP intrusives and volcanic rocks. These occurrences bear the historic names of Tip Top, Foxreef, Goldreef, Matilda, Silver Tip, among others. Gold is found in quartz-calcite-barite veins up to six metres wide with pyrite+chalcopyrite+galena+sphalerite mineralization. Geochemical surveys show an anomalous north-south trend along the volcanic-FHP contact (Folk and Makepeace, 2007).

Homestake drilled 15 holes along the Goldreef – Foxreef trend for a total of 3,630 m aggregate depth.

7.5.3 Dilly and Dilly West Zones

Historic zones named Cascade Falls, Lucky Strike, Silver Crown, and Camp Zone are collectively known as Dilly and Dilly West and occur southwest of the Homestake zones.

Exploration has been active in this area with over 40 pits, trenches, and adits excavated. The zones are hosted by silicified mudstones and siltstones overlying rhyolites. Mineralization consists of syngenetic sulphide bands anomalous in Au, Ag, As, Bi, Pb, Zn, Hg, and Sb. The zones are stratiform and display a linear trend with strike lengths of 1,500 m for the Dilly Zone and 600 m for the Dilly West Zone. The underlying rhyolite is cross-cut by veins with similar mineralization to the sulphide bands and these veins are interpreted to be “feeders”. Stratigraphically above the sediments is a thin, silicified and mineralized rhyolite pyroclastic. Silica decrease on the north end of the Dilly Zone, and base metals and barite occur within the sediments. Also present is semi-massive to massive arsenopyrite within sulphide stockwork and FHP sills (Folk and Makepeace, 2007).

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7.5.4 North Homestake Zone (North Dome)

The North Homestake Zone is described as a large sericite-pyrite-silica altered felsic dome approximately 3.2 km north of the Homestake Silver deposit and occupies a 125 ha area. The geology is massive feldspar-phyric, fine grained felsic volcanic rock of dacite to latite composition that occurs in the upper part of the volcano-sedimentary stratigraphy. Sheeted northeast trending pyritic fractures occur in the strongly silicified southern and western margins. These fractures are strongly anomalous in pathfinder elements such as As, Sb, and Hg.

The upper contact of the rhyolite is projected to be in contact with sediments that are thought to be analogous to those at Eskay Creek. The Kitsault Glacier, however, partially obscures the projected two-kilometre contact. Previous drilling of this horizon by Homestake in 2009 to 2010 intersected thick intervals of altered felsic rocks and strong silver enrichment over tens of metres in two holes. An attempt was made in 2002 by Teck to drill test this geological target, but the hole was abandoned.

7.5.5 KNHSR1

The KNHSR1 target lies directly south of the Dolly Varden silver deposit. Historic sampling from the Silver King Min File occurrence has returned up to 34.28 g/t Au and 576 g/t Ag as well as 2.9 percent lead.

Work by Auryn at the KNHSR1 target confirmed the presence of significant base and precious metal mineralization with peak assays of 1.35 g/t Au, 62.1 g/t Ag, 1.66 percent Cu and 20.3 percent Zn from boulders and outcrop at the Silver King occurrence. The VTEM airborne geophysical survey highlighted a major NW-SE trending structure that coincided with the anomalous drainage basin identified in 2018. Follow up of the magnetics and stream sediment anomaly with soils and rock sampling identified a coherent gold + silver soil anomaly centered around the Silver King occurrence. The highly anomalous base and precious metals assays paired with strong quartz sericite alteration throughout the claim indicate that additional exploration is warranted at KNHSR1.

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7.5.6 Kombi

The Kombi target lies along a north – south oriented shear zone evidenced from field mapping of silicified shears as well as linear breaks in the magnetics picture. Stream sediment samples collected from the area returned up to 910 ppb Au as well as anomalous silver, lead and copper.

Recent work by Auryn at Kombi has resulted in soil sampling up to 1.050 g/t Au paired with rock samples from quartz carbonate veining returning 6.3 g/t Au and 1.37 g/t Ag. The 2019 interpretation of historic airborne geophysics in the area outlined a NW trending block of fault bounded volcanics associated with the highly anomalous geochemical results.

7.5.7 Bria

The Bria target includes the Banded Mountain Min File occurrence and represents a potential Eocene Porphyry target. Stream sediment sampling in the target area has returned anomalous silver, lead, zinc and copper. Rock samples from the area have returned up to 11.05 g/t Au and 448 g/t Ag all from quartz veins hosted within intrusive rocks.

The 2019 VTEM survey over Bria highlighted a 3,000 x 500 m steeply dipping intrusive body within sedimentary rocks.

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8. DEPOSIT TYPES

The following section is derived from Folk and Makepeace (2007) and Bryson (2007) and is taken from Macdonald and Rennie (2016).

The Project lies within the highly prolific Iskut-Stewart-Kitsault Belt that is host to several precious and base metal mineral deposits. Homestake Ridge has over 80 mineral occurrences on the Property related in the emplacement of intrusive stocks and felsic domes into the volcanic-sedimentary host rocks.

Diverse mineralization styles on the property include stratabound sulphide zones, stratabound silica-rich zones, sulphide veins, and disseminated or stockwork sulphides. Mineralization is related to Early Jurassic feldspar-hornblende-phyric sub-volcanic intrusions and felsic volcanism and commonly occurs with zones of pyrite-sericite alteration. A later, less significant, mineralizing event occurred in the Tertiary and is characterized by ankerite-calcitepyrite veins. Numerous models can be proposed for the area and local deposits present a broad range of characteristics.

Mineralization displays characteristics of both epithermal gold and VMS deposition. Stratabound and vein (or replacement) mineralization is present that contains values in Ag, As, Au, Cu, Hg, Pb, Sb and Zn (Folk and Makepeace, 2007). The property geology is considered to be favourable for the discovery of “Subaqueous Hot Spring Au-Ag” or “Low Sulphidation Epithermal Au-Ag” type deposits.

The “Subaqueous Hot Spring Au-Ag” deposits, of which Eskay Creek is an example, are formed by “hot spring” fluids venting into a shallow water environment. These deposits may contain large, textureless massive sulphide pods, finely laminated, stratiform sulphide layers and lenses, reworked clastic sulphide sedimentary beds, and epithermal style vuggy breccia veins with coarse sulphides and chalcedonic silica. As such, they share characteristics of both VMS and epithermal deposits.

“Low Sulphidation Epithermal Au-Ag” deposits, of which Silbak-Premier is an example, are typically emplaced within a restricted stratigraphic interval with one kilometre of the paleosurface. Mineralization near surface takes place in hot spring systems with deeper, underlying hydrothermal conduits. Typically, mineralized zones are localized in structures but may occur in permeable lithologies. Veins may exhibit open-space filling, symmetrical and other layering, crustification, comb structure, colloform banding, and multiple brecciations.

Deposits are commonly vertically zoned from a base metal poor Au-Ag-rich top to an Ag-rich base metal zone over a vertical range of 250 m to 350 m. The silver-galena-sphalerite veins of the Homestake Silver Zone exhibit many of these features.

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9. EXPLORATION

Since acquiring the Homestake Ridge Project in late 2016 Auryn has completed extensive exploration across the property to advance additional targets to the drill ready stage. This work has included geological mapping, rock and soil geochemical sampling, portable X-Ray fluorescence and shortwave infrared surveys, geophysical (IP) surveying, the re-logging of historical drill core, geochronological studies and airborne VTEM geophysical surveys along with reprocessing of historic geophysical survey data.

During the rock and soil sampling programs, Auryn obtained representative samples of mineralization on the property. There are no known factors that may have resulted in sample bias.

9.1 Rock Sampling

A total of 274 rock samples (channel, chip and grab) were collected from the central Homestake claim block during the 2017 and 2019 programs.

A large proportion of the 2017 rock samples collected were located along ridges with gossanous outcrop, targeting a potential northern extension of the Homestake Main deposit. Additional samples were collected around historic mineral occurrences near the Homestake Main and South Reef Zones.

The majority of the 2019 rock samples were collected in a grid fashion at the Kombi target where recent recession of glaciers exposed large tracts of rock without soil developed or deposited on top.

9.1.1. Rock Sampling Methodology

Rock samples were generally selected based on favorable lithology and mineralization. Samples were collected using a hammer and placed in a poly ore bag with the sample number written on both sides in permanent marker. A sample tag marked with the unique sample number was placed inside each sample bag and sealed with a cable tie. The geological information and location were entered into an ArcGIS based application via Apple iPad devices.

All the rock sample bags are packaged in double bagged 20” x 40” polywoven rice bags (for added protection), labelled with the laboratory address, shipment number, bag number and shipper details. Prior to sealing the rice bags, a sample submittal form is be placed within the first bag of the sample shipment. The rice bags are sealed with security tags, which are scanned for the corresponding bag.

Completed sample shipments were slung