Newsletter: Royal Road Advances at Santo Domingo, Argentina

Dear Shareholder,

We thank you for your continued interest. As you are aware, the Company has responded purposefully to the political dynamics of its operating environments and set out on a new and very deliberate strategy of securing world class copper and gold assets across different jurisdictions and with most effort applied to those jurisdictions which provide evidence of long-term support to the mining sector. The objective is clear, and the process is very much underway. We are confident, focussed, and excited; step by step we are getting there.

If you follow our news, you will have seen that we recently effected what amounts to an equitable swap of our Nicaraguan gold assets for 100% of our Guintär copper-gold porphyry project in Colombia. This reflects the new strategy of one key, potentially world class, copper and gold asset per jurisdiction. As an operating environment, it will come as no surprise to you that Colombia is currently difficult. We are one of many Colombian mining and exploration companies currently in effective suspension due to the lack of process and ongoing ambiguity in relation to the Petro governments proposed regulatory reforms.

Meanwhile however, our focus has shifted, and we are very active and particularly excited about the potential at our Santo Domingo copper and gold porphyry project in San Juan Province, Argentina. Permits are in and we will be drilling this project in late July, 2023. There has been no previous drilling at Santo Domingo: To be clear, our drilling will be the first subsurface test of an exposed porphyry copper and gold system in this project area. In total, there are three porphyries exposed at Santo Domingo; El Arriero, Divisoria and Alunita. Our drilling will focus initially on the El Arriero porphyry which is slightly more deeply eroded and thus higher in surface copper geochemistry than the other two.

Images from the El Arriero porphyry copper and gold project in San Juan Province, Argentina. Bottom right shows "roof zone" contact with host rocks.

Assay labs in Argentina have been slow, due to the usual glut of samples from summer exploration in the high cordillera, but results from our saw-cut channels and grid-based soil samples are now being returned. Detailed mapping has clearly revealed at-least two copper and gold mineralised porphyry bodies at El Arriero, both of-which have been emplaced into a breccia body showing classic concentric porphyry zoning over a diameter of approximately 1km. It is also obvious that we are in the top or “roof” of the porphyry system as we can physically stand on the roof contact in the surrounding hill sides (see bottom right photo above). In summary, we have all we need to support a potential concealed porphyry copper and gold system at El Arriero and evidence for two more similar, yet slightly less-eroded systems in the immediate vicinity.

The project is located just three hours’ drive from the provincial capital of San Juan City, 25km from a railway that ceased operations in the mid 90’s (but still connects to operating lines into Buenos Aires) and situated at an altitude of approximately 1500m ASL. The project is accessible and workable all year round.

Expect to hear more on Santo Domingo pre-drilling as our surface sample results come in and our geological mapping advances.

Respectfully Yours

Dr Tim Coughlin, President and CEO