South Cariboo Gold District — Karus Mining Inc.

The District

A dominant position in a proven gold district

The South Cariboo property spans 995 km² along the Eureka thrust within the prolific Cariboo Gold District. It holds two structurally-controlled orogenic gold systems — the flagship FG Gold deposit and the Gold Creek discovery — both extensively de-risked by decades of historical work and open for expansion.

Located in British Columbia — a stable, mining-friendly Tier-1 jurisdiction
Road access, powerlines and proximity to the service centre of Williams Lake
Multi-year drilling permits valid through 2028 for cost-effective exploration
Supportive relationship with the Northern Shuswap Tribal Council

Cariboo Gold District property map, 1:500,000 — The South Cariboo property (yellow) along the Cariboo Gold District trend, showing the FG Gold and Gold Creek projects alongside neighbouring operators. Click to enlarge.

FG Gold — Flagship Deposit

A large, de-risked gold system

A sediment-hosted orogenic gold system where mineralization is focused into predictable, structurally-controlled corridors that fold around the NW-trending Eureka Syncline.

FG Gold — projected knotted-phyllite horizon folding around the Eureka Syncline — The gold-bearing knotted-phyllite horizon (brown) projected onto topography, folding around the Eureka Syncline. This large-scale structure focuses mineralization into repeating corridors along 20+ km of strike. Click to enlarge.

FG Gold Section B-B′ — 2021 drill program with assay intervals — Section B-B′ through the FG Gold system, showing 2021 drill holes, mineralized envelopes (yellow) and higher-grade vein zones (brown). Click to enlarge.

2021 Drill Program — Highlights

FG-21-40127.1 g/t Au / 1.6 m

highest-grade 2021 intercept

FG-21-4011.3 g/t Au / 95.5 m

incl. 9.6 g/t over 6.5 m & 3.3 g/t over 8.2 m

FG-21-3981.8 g/t Au / 16.2 m

incl. 3.0 g/t over 8.0 m

FG-21-3940.6 g/t Au / 63.3 m

incl. 1.0 g/t over 28.4 m

Intervals are drilled widths and may not represent true width. Results from the 2021 drill program, FG Gold Property.

01

A Known Deposit Type

Typical of sediment-hosted orogenic gold, high-grade mineralization localizes in zones of increased quartz veining related to deformation of the host rocks.

02

Predictable Controls

Favourable host stratigraphy folds around the large-scale Eureka Syncline; parasitic fold hinges thicken gold-bearing veins into regularly-spaced corridors.

03

Predictable Orientation

These corridors run parallel to the syncline's axial plane, forming elongate NW–SE trends that can be traced and targeted along strike.

Notable FG Gold intercepts (2020–2022)Au g/t

FG-87-054 · 12.3 m18.89

FG-90-140 · 16.5 m11.1

FG-87-050 · 25.5 m5.67

FG-20-385 · 17.7 m3.34

FG-20-373 · 41.0 m2.97

FG-21-401 · 35.4 m2.94

FG-20-382 · 46.7 m1.83

FG-20-378 · 62.3 m1.67

Intervals are drilled widths and may not represent true width. Bars scaled to 20 g/t. Historical results are per the NI 43-101 Technical Report on the South Cariboo Property (Equity Exploration Consultants Ltd., effective June 1, 2022).

View NI 43-101 Technical Report (2022)

Gold Creek location within the South Cariboo Gold District — Gold Creek sits along the Cariboo Gold District trend on the same Eureka-thrust structure as FG Gold, within the 100%-owned land package. Click to enlarge.

Gold Creek — Strategic Discovery

A second growth engine

A strategically-located gold system with a Spanish Mountain-style signature, adding a second growth engine within the district land package.

GC-17-34

incl. 1.5 m @ 18.0 g/t

5.5 g/t Au

over 9.0 m

GC-17-35

broad near-surface zone

1.0 g/t Au

over 84.65 m

GC-21-049

open at depth

0.74 g/t Au

over 46.4 m

Regional Targets

A district-scale pipeline of new discoveries

Beyond the FG Gold deposit, the 2021 regional program tested a pipeline of targets across the FG and Gold Creek areas — each carrying the same structural and geochemical signature that makes the district prospective, and each open for follow-up.

2021 Regional Exploration map of the FG and Gold Creek areas showing regional targets — 2021 regional geological map of the FG and Gold Creek areas, showing prospects and targets (TEP, Forks, HEN, ZED) along the Eureka thrust and syncline. Click to enlarge.

TEP

3.8 g/t Au over 13 m

Drill-confirmed gold mineralization in a new corridor east of the Eureka syncline.

Forks

Up to 3.4 g/t Au

High-grade surface samples along the Eureka thrust, coincident with clinopyroxenite.

Offset Lake

Large arsenic anomaly

District-scale soil geochemical target — a strong pathfinder signature, still undrilled.

Lo / Hen

0.39 g/t Au over 33.8 m

Broad zone including 0.5 m of 15.7 g/t Au — a high-grade core within a wide envelope.

2026 Exploration Plan

A fully-funded program to expand the high-grade corridors

7,500 m

core drilling planned for 2026, with option to expand

650 m

strike length of two high-grade corridors, open to the NW

20+ km

untested trend hosting repetitive corridors

Expand and further define the two high-grade, structurally-controlled vein corridors discovered in 2020/21

Drill-test the highest-priority targets to discover new corridors along a 20+ km trend to the northwest

Evaluate additional vein corridors defined by gold-in-soil geochemistry and historical drill intercepts

Be Early

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