LAPON CANYON GOLD PROJECT

PROJECT LOCATION

The Lapon Canyon Gold project, consists of 19 leased claims (the “Sleeper Claims”) and 17 lode claims (the “Lapon Canyon Claims”), for a total of 36 claims (720 acres-292 hectares), situated some 60 km south of Yerington, Nevada and is easily accessible via state maintained secondary roads from the main highway (25 km). It is located in a deeply incised valley (Lapon canyon) which is the site of historic gold placer mining in the 1900’s. The road up the canyon to the old mine site is accessible by 4WD. A power transmission lines passes within 3 km of the property. The Lapon Canyon Project is located within the Walker Lane Shear Zone, a 100 km wide structural corridor extending in a SE direction from Reno. The past producing historic Comstock Lode silver/gold mine is located within this trend, as is the past producing Esmeralda/Aurora gold mine, which is located 30 km SW of the project. as well as Gryphon Gold’s currently producing Borealis Mine located only 25 km south west of Lapon Canyon.

LAPON CANYON PROJECT HIGHLIGHTS

Initial 2015 & 2016 Drill Programs Returned Significant Gold Mineralization

Minimal Modern Exploration

Historical High Grade gold mining in 2000 feet of underground workings

Located in Mining friendly Nevada

Discovery of an previously unknown potential porphyry system

Permits are in place

Significant exploration opportunities and expansion potential

Proven Management

GEOLOGY

  • The Sleeper-Lapon Canyon Project is located on the west flank of the Wassuk Range within the Walker Lane Shear Zone. Walker Lane is a linear north-northwest-trending depression extending 800 km north from the Garlock Fault Las Vegas area to south-central Oregon. This trough is part of the Walker Lane Fault Zone, a major tectonic system that includes Owens and Death Valleys and several prominent faults. Located at the juncture of two contrasting tectonic styles, the Sierra Nevada and the Basin and Range, the Walker Lane region is deforming in a complex way by both extensional and transcurrent (sliding) fault movements.
  • The Walker Lane shear zone straddles the border between Nevada and California and has a long history of exploration and mining
  • The majority of gold deposits occur in the Walker Lane shear zone, which is a 100-km wide, NW trending structural corridor extending southeast from Reno towards Las Vegas
  • The Walker Trend has hosted historical gold producers such as the famous Comstock Lode silver/gold mine which is located to the north of Lapon Canyon. The Comstock Lode is one of the richest silver/gold mines ever found
  • The Esmeralda/Aurora mine, also on the Walker Trend and 25 km to the south-west of Lapon Canyon, produced from one bonanza vein one million ounces of gold from only one hundred thousand tonnes of rock

ALTERATION ZONES LAPON CANYON

There is the potential for defining more high-grade gold mineralization on the property. Three steeply dipping, strongly altered and silicified fault/shear zones can be traced for about 4 km on the property. Each of these zones measures 60-to-300 metres wide and two can be traced up to 700 metres vertical extent – from the ridge top to the bottom of the canyon. Only one of these extensive alteration zones was partially mined. All of the alterations zones need to be properly explored and drill tested. These steep, cross fault structures within the NW striking Walker Lane structural trend could represent mineralized tension gaps that could tap into deeper feeder structures fed by underlying Cretaceous-aged intrusive rocks.

HISTORY AND MINERALIZATION

  • Placer gold was discovered at the mouth of the Lapon Canyon around 1904
  • Placer mining up the creek resulted in the discovery of gold in the mine area in 1907
  • Small-scale high-grade gold mining occured from 1914 onwards. The mine area was at the top of the canyon and at that time it was extremely difficult to access. This indicates mineralization was rich enough to drag equipment and supplies up a steep canyon.
  • Two adits were developed (B and C) with a sublevel and raise between them.  About 600 metres of underground adits and drifts were developed and a two-stamp mill was built.
  • Cut-off grades in the stopes were reported to be 1 ounce gold per ton.
  • In 1936 Newell sampled the adits and published values assaying as high as 5 ounces gold per ton.
  • In 1960, Nylene drove an adit 250 feet into the mountain and 275 ft below adit B.
  • Nylene was targeting the down dip extension of the high-grade mineralization above.
  • A sample taken at the end of this adit reportedly assayed 20.6 ounces gold per ton.
  • In the 1960’s a small mill was built and a tailings pond was constructed. A second larger ball mill (500 tons per day) was to be installed but the company ran out of money and abandoned the project. The 500 tpd mill still remains at the base of the canyon, uninstalled.
  • No further mining work was reported.
  • In the 1990’s some minor trenching and a few shallow RC drill holes were drilled above the the uppermost adit.
  • No one has tested the down-dip extension of the high-grade gold ore shoots that were being mined in the 1960’s.
  • The Nylene Adit potentially hit this mineralization which warranted the expansion of the mill (to 500 tpd). But it seems company apparently ran out of money before it could profit from the discovery.

Newell Adit Plan Map & Samples

SAMPLE CUT oz/ton g/pt Au
1 8’ 0.23 7.86
2 8’ 0.23 7.86
3 6’ 0.23 7.86
4 3’ 1.4 47.82
5 6’ 1.5 51.24
6 6’ 0.39 13.32
7 4’ 0.39 13.32
8 9’ 0.77 26.3
9 6’ 0.29 9.91
10 ½’ 1.74 59.44
11 7’ 0.48 16.4
12 3’ 0.29 9.91
13 6’ 0.24 8.2
14 4’ 0.77 26.3
15 5’ 1.06 36.21
16 5’ 0.68 23.23
17 5’ 1.64 56.02
18 6’ 0.87 29.72
19 3’ 5.13 175.24
20 3’ 2.1 74.47
21 3’ 0.29 9.91
22 4’ 0.3 10.25
23 4’ 0.2 6.83
24 4’ 0.1 3.42
25 6’ 0.45 15.37
26 ??? 0.33 11.27
27 4’ 0.39 13.32
28 4’ 0.68 23.22

Surface Samples Adrian & Barr

SURFACE SAMPLES         BARR (1994)

SAMPLE TYPE GOLD(ppb)
10 3’chip 10
11 25’chip 10
12 12’chip 100
13 40’chip 1795
14 22’chip 810
15 20’chip 15
16 16’chip 85
17 24’chip 10
18 15’chip 1365
19 12’chip 1845
20 12’chip 145
21 30’chip 25
22 20’chip 140

SURFACE SAMPLES ADRIAN (1994)

SAMPLE TYPE GOLD(opt)
1 60’chip 0.0015
2 30’chip 0.0018
3 30’chip 0.0172
4 40’chip 0.0035
5 40’chip 0.0046
6 30’chip 0.0035
7 20’chip 0.0472
10 50’chip 0.0056
11 50’chip 0.0032
12 50’chip 0.0019
13 50’chip 0.0373
14 50’chip 0.0082
15 50’chip 0.0079
16 50’chip 0.0155
20 25’chip 0.022
21 25’chip 0.0145
22 35’chip 0.0056
23 40’chip 0.0102
24 50’chip 0.0488
25 50’chip 0.0089
26 40’chip 0.0106
27 30’chip 0.0287
28 25’chip 0.0296
29 35’chip 0.0285

DISCLAIMER

Certain statements herein may contain forward-looking information within the meaning of applicable securities laws. Forward-looking information appears in a number of places and can be identified by the use of words such as “intends” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information includes statements regarding the Company’s exploration plans with respect to the Property and the estimation of mineral resources and are subject to such forward-looking risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such risks include gold price volatility, change in equity markets, the uncertainties involved in interpreting geological data, increase in costs and exchange rate fluctuations and other risks involved in the gold exploration and development industry as well as those risk factors discussed under “Risk Factors” in the Company’s MD&A available at www.sedar.com. There can be no assurance that a forward-looking information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of Walker River Resources. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein are qualified by this cautionary statement. The Company does not undertake to update such forward-looking information except in accordance with applicable securities laws. “All scientific and technical information concerning Walker River’s mineral projects contained in this website has been prepared by or under the supervision of, or approved by, Eugene Gauthier, P. Eng, (OIQ), a director of the Company, Vice President of Exploration Manager and a qualified person as defined in National Instrument 43-101 of the Canadian Securities Administrators.”