Global Resource

Deposits NI 43-101 Updated and Historical Resources

The Tower deposit updated resource report completed by P&E effective on March 28, 2020 and press released March 2, 2020. CIM definitions were followed, 1.5%% copper cut-off was used with US$3.00 copper, US$1,350 gold, US$ 1.10 zinc and US$ 16.50 silver. Metal recovery for copper was 95%, gold at 80%, zinc at 80% and silver at 80%. Mineral Resources are not Mineral Reserves and do not have demonstrated economic value.

The Rail deposit update resource completed by P&E effective on March 27, 2020 and press released on March 30, 2020. CIM definitions were followed, 1.5%% copper cut-off was used with US$3.00 copper, US$1,350 gold, US$ 1.10 zinc and US$ 16.50 silver. Metal recovery for copper was 95%, gold at 80%, zinc at 80% and silver at 80%. Mineral Resources are not Mineral Reserves and do not demonstrate economic viability.

The Talbot update resource report completed by P&E effective on February 28, 2020 and press released February 27, 2020. CIM definitions were followed, 1.5%% copper cut-off was used with US$3.00 copper, US$1,350 gold, US$ 1.10 zinc and US$ 16.50 silver. Metal recovery for copper was 95%, gold at 80%, zinc at 80% and silver at 80%. Mineral Resources are not Mineral Reserves and do not have demonstrated economic value.

The Lon, Bur, Morgan, Copperman and MacBride deposits are historical deposits. The reader may refer to the Lon deposit press released October 31, 2007 and the Bur deposit press released September 29, 2016 and the Morgan deposit press released November 22, 2016 and the MacBride deposit press released December 1, 2016. An internal report was completed by Granges Inc. in 1993 for the Lon deposit, Manitoba Government reports in the 1990s for the Morgan and Copperman deposits and an internal report by Knobby Lake Mines in 1977 for the MacBride deposit, however not all of the parameters used, assumptions made and methods used to prepare the historic estimates are known at this time. A public report was completed by Hudbay in 2007 and filed on SEDAR for the Bur deposit. Its parameters are known. Additional drilling would be required to upgrade all historical resources to a current Mineral Resource as the historic information does not satisfy the requirements set out by NI 43-101. Neither Rockcliff Metals nor its Qualified Persons have done sufficient work to classify the historic estimates as current Mineral Resources and are not treating the historical estimates as a current Mineral Resource. The reader is cautioned that the Lon, Bur, Morgan, Copperman and MacBride historical resources should not be relied upon as they do not satisfy current Mineral Resource or Mineral Reserve terminology.

Copper and zinc equivalent grades were estimated for historical resources using US$2.35 copper, US$1300 gold, US$1.15 zinc and US$20 silver for the Bur deposit and US$3.00 copper, US$1300 gold, US$1.15 zinc and US$20 silver for the Lon, Morgan, Copperman and MacBride deposits. Copper equivalent grades were estimated for NI 43-101 Resource estimates based on the metal values used for each specific deposit and outlined in the Ni 43-101 reports.