Iron Ore, Ontario Canada 280 Million Tons

- Resource-proven property in the Onaman Iron Range of Ontario, Canada
- Consists of an area of c. 1,155 hectares (11.5 km2) comprised of 6 block claims totaling 71 mining claim units
- Contains estimated 280 million tons at about 28% Fe1

• Iron formation occurrences in the area are Algoma-type and are known as the Onaman Iron Range
• The Suni Iron Project contains two iron deposits of Banded Iron Formation (BIF) deposits
• The BIF of sedimentary origin consists of magnetic rich bands inter-bedded with jasper and greywacke
• The magnetite bands are commonly from 0.55 to 0.18 cm thick, occasionally reaching as much as 6.5 cm thick
Metallurgy
• In 1961, extensive metallurgical bulk testing was conducted on mineralization from a test pit in the Jeffries Lake
Deposit, on about 250 tons
• Average magnetite grade was 20% to 25%
• Magnetite concentration of the mineralization demonstrated a potential to produce 66% or better concentrate
grade with silica contents of 7% or less at recoveries of 90% to 94%
Mineral

Resources

With an estimated dilution of 20%, the Suni Property consists of about 280.2 million tons at about 28% Fe of which
about 95.1 million tons at about 28.5% are in the indicated category and about 185.1 million tons at about 27.8%
are in the inferred category. The resource is not NI 43-101 qualified but the company has an offer from reputable consultancy to upgrade it.

Full independent valuation report is available from 2022 from at signing NDA.

The asset is owned by a Canadian listed investment company Greenbank Capital inc.