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N <br /> X O <br /> C <br /> A <br /> 1. SUMMARY <br /> • Thorin proposes to process existing surface development workings, referenced in Picture <br /> (3)Area of Surface Material Camp Bird, (the"Material') located within the project boundaries <br /> of the Revenue Mine and Camp Bird Mine near Ouray, Colorado. <br /> • Thorin proposes utilizing a clean, acid chemical free, system to process the Material. <br /> • Containment of spillage of unanticipated liquid, specifically the process water and waste <br /> material, shall be captured and retained within a dedicated containment area. <br /> • The proposed TR plan is to develop a daily production target rate of seventy-five(75)tons <br /> per day ("TPD") of Material; starting at 5-10 tons / day. The scaling-up of production to the <br /> target TPD will occur as the process is analyzed and refined for efficiencies. <br /> • Water quality monitoring shall be performed within the current permit(s)guidelines. <br /> • The proposed TR requires no drilling or sub-surface excavation outside of the current <br /> permit(s). <br /> 2. INTRODUCTION <br /> FAFO acquired clear title and ownership of the Revenue Mine (Permit No. M-2012-032) <br /> near Ouray, Colorado, in August 2023 through a court-sanctioned receivership auction of assets <br /> with Successor of Operator approved on December 13, 2023. <br /> In preparation for this TR application, Thorin has conducted extensive inhouse-laboratory <br /> testing in its Ouray, Colorado laboratory and in off-site locations that provided information in the <br /> design of the proposed pilot plant at the Revenue Mine (the "Pilot Plant"). The laboratory testing <br /> utilized equipment consistent with the Pilot Plant including use of a jaw crusher, discharging to an <br /> impact mill, then feeding a wet shaker table to investigate the feasibility of segregating various <br /> minerals and metals and then capturing said materials individually as either marketable <br /> commercial product, such as Si02, lead, cadmium, et al. and precious metals.All samples were <br /> tested in-house using XRF or ICP methodology and then sent to three independent test <br /> laboratories for quantification and certification. <br /> Thorin believes it has developed an economically viable system to process Material <br /> without the need for harmful chemicals, acids, or reagents. <br /> 3 <br /> 1900 MAIN ST, UNIT 1 1P0 BOX 1030 1 OURAY CO 81427 <br />