{"url_path":"/sec/srgz/10-k/2026/item-2","section_key":"item-2","section_title":"Item 2 **","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-07-22","source_url":"https://www.sec.gov/Archives/edgar/data/1401835/0001437749-26-024054-index.html","accession_number":"0001437749-26-024054","cik":"0001401835","ticker":"SRGZ","issuer_name":"Star Gold Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1401835/0001437749-26-024054-index.html","primary_entity_key":"0001401835","primary_entity_name":"Star Gold Corp."},"word_count":7355,"has_tables":true,"body_markdown":"**ITEM 2.**\n\n**PROPERTIES.**\n\n \n\nThe Company headquarters are located at 174 E. Neider Ave., Suite 222, Coeur d’Alene, ID 83815. The Company believes this office space and facilities are sufficient to meet the Company’s present needs, and do not anticipate any difficulty securing alternative or additional space, as needed, on terms acceptable to the Company.\n\n \n\nThe Company currently does not own any real property.\n\n \n\nThe Company is an exploration stage company with no proven or probable mineral reserves. There is no assurance that a commercially viable mineral deposit exists at the Longstreet Property. Further exploration will be required before any final determination as to the economic or legal feasibility may be made as to the Company’s property.\n\n \n\n**THE LONGSTREET PROPERTY**\n\n \n\nIn January of 2010 Star Gold signed an agreement (the “Longstreet Agreement”) to lease with an option to acquire from MinQuest, Inc. (“MinQuest”), 60 unpatented mining claims totaling approximately 490 hectares. The Company completed its first phase of drilling in 2011. On July 9, 2010, the Company and MinQuest entered into an amended agreement to add an additional 10 claims and expanded the total to 70 unpatented claims. In addition, Star Gold agreed to reimburse MinQuest for 5 claims leased from a third party, Roy Clifford. The Longstreet Property comprises 142 mineral claims (75 original optioned claims, of which 70 are unpatented staked claims and five claims acquired from local ranchers (Roy Clifford et al)), as well as 50 claims subsequently staked by Star Gold, covering a total area of approximately 2,500 acres (1,012 ha) (Figure 6-1). The claims are located within Sections 9-17, 20, and 21 of T6N, R47E, MDB&M (Mount Diablo Base Line & Meridian), Nye County. The geographic coordinates of the central part of the property are approximately 38 degrees 22’0” N. Latitude and 116 degrees 40’00” W Longitude. The entire 142 claims (the 5 claims covered by the Clifford Lease are not subject to the Longstreet Agreement) comprise the Longstreet Property.\n\n \n\nPage 10\n\n[Table of Contents](#toc)\n\n \n\nOn July 25, 2017, MinQuest assigned, conveyed and transferred to Great Basin Resources, Inc. (“Great Basin”) all of the rights, title and interest of Minquest in and to the Longstreet Property and the Longstreet Agreement.\n\n \n\nOn September 10, 2020, Great Basin Resources, Inc. recorded a quit claim deed transferring title to the Longstreet Property claims to Star Gold Corp.\n\n \n\nOn March 18, 2022, Great Basin Resources, Inc. recorded an amended quitclaim deed and assignment correcting the mineral claims previously transferred and memorializing the assignment of the Clifford leases.\n\n \n\nOf the 50 claims staked by Star Gold, 38 are adjacent to the eastern boundary of the property and were staked with the objective of providing a site for potential leach pads planned for future development of the Main Zone (the “Leach Pad Claims”). The remaining 12 claims staked by Star Gold lie along a corridor leading from the main Longstreet property to the Leach Pad Claims.\n\n \n\nA list of claims, ownership and Bureau of Land Management (BLM) serial numbers is shown below:\n\n \n\n \n\n**BLM Listed**\n\n**NMC**\n\n**Area**\n\n \n \n\n**Claim Name**\n\n**Owner**\n\n**Number**\n\n**(Acres)**\n\n**Date Located**\n\n**Renewal date**\n\nMorning Star\n\nRoy Clifford et al\n\n96719\n\n20\n\n7/1/1957\n\n9/1/2026\n\nLongstreet 11\n\nRoy Clifford et al\n\n164002\n\n20\n\n6/14/1980\n\n9/1/2026\n\nLongstreet 12\n\nRoy Clifford et al\n\n164003\n\n20\n\n6/14/1980\n\n9/1/2026\n\nLongstreet 14\n\nRoy Clifford et al\n\n164005\n\n20\n\n6/14/1980\n\n9/1/2026\n\nLongstreet 15\n\nRoy Clifford et al\n\n164006\n\n20\n\n6/14/1980\n\n9/1/2026\n\nLongstreet 1A\n\nStar Gold Corp.\n\n799562\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 2A\n\nStar Gold Corp.\n\n799563\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 3A\n\nStar Gold Corp.\n\n799564\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 6A\n\nStar Gold Corp.\n\n799565\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 7A\n\nStar Gold Corp.\n\n799566\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 8A\n\nStar Gold Corp.\n\n799567\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 9A\n\nStar Gold Corp.\n\n799568\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 16A\n\nStar Gold Corp.\n\n799569\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 13\n\nStar Gold Corp.\n\n799570\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 32\n\nStar Gold Corp.\n\n799571\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 34\n\nStar Gold Corp.\n\n799572\n\n20\n\n1/22/1999\n\n9/1/2026\n\nLongstreet 4A\n\nStar Gold Corp.\n\n836168\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 5A\n\nStar Gold Corp.\n\n836169\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 8\n\nStar Gold Corp.\n\n836170\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 10\n\nStar Gold Corp.\n\n836171\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 10A\n\nStar Gold Corp.\n\n836172\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 28\n\nStar Gold Corp.\n\n836173\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 30\n\nStar Gold Corp.\n\n836174\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 36\n\nStar Gold Corp.\n\n836175\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 37\n\nStar Gold Corp.\n\n836176\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 39\n\nStar Gold Corp.\n\n836177\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 41\n\nStar Gold Corp.\n\n836178\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 43\n\nStar Gold Corp.\n\n836179\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 45\n\nStar Gold Corp.\n\n836180\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 47\n\nStar Gold Corp.\n\n836181\n\n20\n\n2/2/2002\n\n9/1/2026\n\n \n\nPage 11\n\n[Table of Contents](#toc)\n\n \n\n \n\n**BLM Listed**\n\n**NMC**\n\n**Area**\n\n \n \n\n**Claim Name**\n\n**Owner**\n\n**Number**\n\n**(Acres)**\n\n**Date Located**\n\n**Renewal date**\n\nLongstreet 49\n\nStar Gold Corp.\n\n836182\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 101\n\nStar Gold Corp.\n\n836183\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 102\n\nStar Gold Corp.\n\n836184\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 103\n\nStar Gold Corp.\n\n836185\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 104\n\nStar Gold Corp.\n\n836186\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 105\n\nStar Gold Corp.\n\n836187\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 106\n\nStar Gold Corp.\n\n836188\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 107\n\nStar Gold Corp.\n\n836189\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 108\n\nStar Gold Corp.\n\n836190\n\n20\n\n2/2/2002\n\n9/1/2026\n\nLongstreet 12\n\nStar Gold Corp.\n\n843867\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 14\n\nStar Gold Corp.\n\n843868\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 16\n\nStar Gold Corp.\n\n843869\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 18\n\nStar Gold Corp.\n\n843870\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 20\n\nStar Gold Corp.\n\n843871\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 26\n\nStar Gold Corp.\n\n843872\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 42\n\nStar Gold Corp.\n\n843873\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 44\n\nStar Gold Corp.\n\n843874\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 46\n\nStar Gold Corp.\n\n843875\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 48\n\nStar Gold Corp.\n\n843876\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 50\n\nStar Gold Corp.\n\n843877\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 40\n\nStar Gold Corp.\n\n851568\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 118\n\nStar Gold Corp.\n\n851569\n\n20\n\n9/29/2003\n\n9/1/2026\n\nLongstreet 119\n\nStar Gold Corp.\n\n851570\n\n20\n\n9/29/2003\n\n9/1/2026\n\nLongstreet 120\n\nStar Gold Corp.\n\n851571\n\n20\n\n9/29/2003\n\n9/1/2026\n\nLongstreet 121\n\nStar Gold Corp.\n\n851572\n\n20\n\n9/29/2003\n\n9/1/2026\n\nLongstreet 122\n\nStar Gold Corp.\n\n851573\n\n20\n\n9/29/2003\n\n9/1/2026\n\nLongstreet 123\n\nStar Gold Corp.\n\n851574\n\n20\n\n9/29/2003\n\n9/1/2026\n\nLongstreet 124\n\nStar Gold Corp.\n\n851575\n\n20\n\n9/29/2003\n\n9/1/2026\n\nLongstreet 109\n\nStar Gold Corp.\n\n855021\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 110\n\nStar Gold Corp.\n\n855022\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 111\n\nStar Gold Corp.\n\n855023\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 112\n\nStar Gold Corp.\n\n855024\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 113\n\nStar Gold Corp.\n\n855025\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 114\n\nStar Gold Corp.\n\n855026\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 115\n\nStar Gold Corp.\n\n855027\n\n20\n\n2/25/2003\n\n9/1/2026\n\nLongstreet 56\n\nStar Gold Corp.\n\n1025831\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 57\n\nStar Gold Corp.\n\n1025832\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 58\n\nStar Gold Corp.\n\n1025833\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 59\n\nStar Gold Corp.\n\n1025834\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 60\n\nStar Gold Corp.\n\n1025835\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 61\n\nStar Gold Corp.\n\n1025836\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 62\n\nStar Gold Corp.\n\n1025837\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 63\n\nStar Gold Corp.\n\n1025838\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 64\n\nStar Gold Corp.\n\n1025839\n\n20\n\n7/9/2010\n\n9/1/2026\n\n \n\nPage 12\n\n[Table of Contents](#toc)\n\n \n\n \n\n**BLM Listed**\n\n**NMC**\n\n**Area**\n\n \n \n\n**Claim Name**\n\n**Owner**\n\n**Number**\n\n**(Acres)**\n\n**Date Located**\n\n**Renewal date**\n\nLongstreet 65\n\nStar Gold Corp.\n\n1025840\n\n20\n\n7/9/2010\n\n9/1/2026\n\nLongstreet 200\n\nStar Gold Corp.\n\n1073640\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 201\n\nStar Gold Corp.\n\n1073641\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 202\n\nStar Gold Corp.\n\n1073642\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 203\n\nStar Gold Corp.\n\n1073643\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 204\n\nStar Gold Corp.\n\n1073644\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 205\n\nStar Gold Corp.\n\n1073645\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 206\n\nStar Gold Corp.\n\n1073646\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 207\n\nStar Gold Corp.\n\n1073647\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 208\n\nStar Gold Corp.\n\n1073648\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 209\n\nStar Gold Corp.\n\n1073649\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 210\n\nStar Gold Corp.\n\n1073650\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 211\n\nStar Gold Corp.\n\n1073651\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 212\n\nStar Gold Corp.\n\n1073652\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 213\n\nStar Gold Corp.\n\n1073653\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 214\n\nStar Gold Corp.\n\n1073654\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 215\n\nStar Gold Corp.\n\n1073655\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 216\n\nStar Gold Corp.\n\n1073656\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 217\n\nStar Gold Corp.\n\n1073657\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 218\n\nStar Gold Corp.\n\n1073658\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 219\n\nStar Gold Corp.\n\n1073659\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 220\n\nStar Gold Corp.\n\n1073660\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 210\n\nStar Gold Corp.\n\n1073661\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 220\n\nStar Gold Corp.\n\n1073662\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 223\n\nStar Gold Corp.\n\n1073663\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 224\n\nStar Gold Corp.\n\n1073664\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 225\n\nStar Gold Corp.\n\n1073665\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 226\n\nStar Gold Corp.\n\n1073666\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 227\n\nStar Gold Corp.\n\n1073667\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 228\n\nStar Gold Corp.\n\n1073668\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 229\n\nStar Gold Corp.\n\n1073669\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 230\n\nStar Gold Corp.\n\n1073670\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 231\n\nStar Gold Corp.\n\n1073671\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 232\n\nStar Gold Corp.\n\n1073672\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 233\n\nStar Gold Corp.\n\n1073673\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 234\n\nStar Gold Corp.\n\n1073674\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 235\n\nStar Gold Corp.\n\n1073675\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 236\n\nStar Gold Corp.\n\n1073676\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 237\n\nStar Gold Corp.\n\n1073677\n\n20\n\n6/22/2012\n\n9/1/2026\n\nLongstreet 66\n\nStar Gold Corp.\n\n1080730\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 238\n\nStar Gold Corp.\n\n1080731\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 239\n\nStar Gold Corp.\n\n1080732\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 240\n\nStar Gold Corp.\n\n1080733\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 241\n\nStar Gold Corp.\n\n1080734\n\n20\n\n9/5/2012\n\n9/1/2026\n\n \n\nPage 13\n\n[Table of Contents](#toc)\n\n \n\n \n\n**BLM Listed**\n\n**NMC**\n\n**Area**\n\n \n \n\n**Claim Name**\n\n**Owner**\n\n**Number**\n\n**(Acres)**\n\n**Date Located**\n\n**Renewal date**\n\nLongstreet 242\n\nStar Gold Corp.\n\n1080735\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 243\n\nStar Gold Corp.\n\n1080736\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 244\n\nStar Gold Corp.\n\n1080737\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 245\n\nStar Gold Corp.\n\n1080738\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 246\n\nStar Gold Corp.\n\n1080739\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 247\n\nStar Gold Corp.\n\n1080740\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 248\n\nStar Gold Corp.\n\n1080741\n\n20\n\n9/5/2012\n\n9/1/2026\n\nLongstreet 301\n\nStar Gold Corp.\n\n1116062\n\n20\n\n10/21/2015\n\n9/1/2026\n\nLongstreet 302\n\nStar Gold Corp.\n\n1116063\n\n20\n\n10/21/2015\n\n9/1/2026\n\nLongstreet 303\n\nStar Gold Corp.\n\n1116064\n\n20\n\n10/21/2015\n\n9/1/2026\n\nLongstreet 304\n\nStar Gold Corp.\n\n1116065\n\n20\n\n10/22/2015\n\n9/1/2026\n\nLongstreet 305\n\nStar Gold Corp.\n\n1116066\n\n20\n\n10/23/2015\n\n9/1/2026\n\nLongstreet 306\n\nStar Gold Corp.\n\n1116067\n\n20\n\n10/23/2015\n\n9/1/2026\n\nLongstreet 307\n\nStar Gold Corp.\n\n1116068\n\n20\n\n10/24/2015\n\n9/1/2026\n\nLongstreet 308\n\nStar Gold Corp.\n\n1116069\n\n20\n\n10/25/2015\n\n9/1/2026\n\nLongstreet 309\n\nStar Gold Corp.\n\n1116070\n\n20\n\n10/26/2015\n\n9/1/2026\n\nLongstreet 310\n\nStar Gold Corp.\n\n1116071\n\n20\n\n10/26/2015\n\n9/1/2026\n\nLongstreet 311\n\nStar Gold Corp.\n\n1116072\n\n20\n\n10/26/2015\n\n9/1/2026\n\nLongstreet 312\n\nStar Gold Corp.\n\n1116073\n\n20\n\n10/27/2015\n\n9/1/2026\n\nLongstreet 313\n\nStar Gold Corp.\n\n1116074\n\n20\n\n10/20/2015\n\n9/1/2026\n\nLongstreet 314\n\nStar Gold Corp.\n\n1116075\n\n20\n\n10/20/2015\n\n9/1/2026\n\nLongstreet 315\n\nStar Gold Corp.\n\n1116076\n\n20\n\n10/20/2015\n\n9/1/2026\n\nLongstreet 316\n\nStar Gold Corp.\n\n1116077\n\n20\n\n10/20/2015\n\n9/1/2026\n\nLongstreet 317\n\nStar Gold Corp.\n\n1116078\n\n20\n\n10/20/2015\n\n9/1/2026\n\n \n \n \n\n2,840\n\n \n \n\n \n\nStar Gold must make annual claim filing fees ($200.00 per claim in 2026) with the Bureau of Land Management (BLM), and Nevada/Nye County claim filing fees of $12.00 per claim plus $12.00 for filing with the Nye County office at Tonopah, NV. The fiscal year ended April 30, 2026 annual claim payments totaled $30,866.\n\n \n\nPursuant to the Longstreet Property Option Agreement with Great Basin Resources, Inc. (“Great Basin”), as amended, which was originally entered into by the Company on or about January 15, 2010 (the “Longstreet Agreement”), the Company leased, with an option to acquire, unpatented mining claims located in the State of Nevada known as the Longstreet Property. Through August 12, 2019, the Company was required to make minimal lease payments in the form of cash and options to purchase shares of the Company’s common stock.\n\n \n\nOn September 1, 2019, the Company executed a consulting agreement with Great Basin for a term of 18 months (the “Consulting Agreement”). Under the Consulting Agreement, the Company agreed to pay Great Basin $7,500 per month for the term of the Consulting Agreement.\n\n \n\nOn August 24, 2020, the Company executed an amendment to the Consulting Agreement which accelerated the payments to Great Basin to include a $22,500 lump sum payment and three subsequent monthly payments of $7,500 in consideration of the execution and recording of a quit claim deed on the Longstreet claims for benefit of the Company.\n\n \n\nThe August 24, 2020 Amendment also grants the Company the option, to be exercised no later than six (6) months following the first receipt of proceeds from the sale of ore from the Longstreet Property, to purchase one-half of Great Basin’s 3.0% Net Smelter Royalty on the Longstreet Project for a payment of $1,750,000.\n\n \n\nIn addition, the Company is obligated, pursuant to the Longstreet Agreement, as amended, to pay an annual advance royalty payment of $12,000 related to the Clifford claims.\n\n \n\nPage 14\n\n[Table of Contents](#toc)\n\n \n\nThe first vein mapping program ever done at Longstreet was completed in October 2002. This work disclosed that gold-bearing veins at Main, as well as 6 other targets in the project area are steeply dipping. Most of the previous drilling was vertical. This indicates high potential to increase continuity, tonnage and grade of the resource. Surface geochemical sampling of veins from all the currently defined targets found gold values up to 18.1 g/t. The property contains strong potential for both open pit heap-leachable and high-grade millable ore.. Comparison to this and other historic or producing mines is strictly informational relative to location and similar geologic characteristics.\n\n \n\n**History:**The Longstreet Property was discovered in the early 1900’s but had limited development work until 1929. A 1929 report and maps show development of the “Golden Lion Mine” on two levels spaced 75 meters apart vertically. The report indicates development of 300,000 tons of “vein material” averaging 0.20 oz/ton (6.8 g/t) gold and 8 oz/ton (274 g/t) silver. A mill was constructed, the remnants of which are still on the property. However, the small stopes underground indicate very little mining was done and the operation was abandoned.\n\n \n\nThe property lay idle until 1980 when Keradamex Inc. and E & B Exploration formed a joint venture to explore the property. The venture conducted soil and rock chip geochemical surveys, limited underground sampling and drilled seven angle core holes (one was abandoned) into the Main mine workings area. This drilling revealed the presence of fracture related gold mineralization up to 36 meters thick extending into the hanging wall of the vein structure. In 1982 Minerva Exploration optioned the property and initiated an underground sampling program. In 1983 a joint venture was formed with Geomex Canada Resources Ltd. and Derry, Michener, and Booth were commissioned to assess the property and conducted underground sampling, bulk sampling and metallurgical testing.\n\n \n\n**Historic Drilling**\n\n**Summary**\n\n \n \n \n\n**Date**\n\n**Company**\n\n**Number of Holes**\n\n**Total Footage**\n\n**1980**\n\n**Keradamex**\n\n**7**\n\n**NA**\n\n**1982-1983**\n\n**Minerva**\n\n**-**\n\n**UG Sampling, no drilling**\n\n**1984-1997**\n\n**Naneco**\n\n**Approx. 500**\n\n**NA, RC and air track**\n\n**1987**\n\n**Cyprus**\n\n**7**\n\n**3,000**\n\n**2002-2005**\n\n**R.E.M.**\n\n**30**\n\n**11,000**\n\n \n\nPage 15\n\n[Table of Contents](#toc)\n\n \n\n \n\nPage 16\n\n[Table of Contents](#toc)\n\n \n\nIn 1982 Minerva Exploration optioned the property and initiated an underground sampling program. In 1983 a joint venture was formed with Geomex Canada Resources Ltd. Derry, Michener, and Booth were commissioned to assess the property and conducted underground sampling, bulk sampling and metallurgical testing.\n\n \n\nIn early 1984 Naneco Resources Ltd., an Alberta company, acquired all of the assets of Minerva and an additional 10 percent interest in the property from Geomex. As operator, Naneco immediately initiated drilling. In 1985, with over 200 RC holes drilled the venture announced encouraging results with anomalous grades of gold and silver throughout its drilling samples.\n\n \n\nDuring the next few years Naneco increased its interest from 53 percent to 100 percent, conducted additional metallurgy, economic evaluation and drilling. At least 492 RC holes were drilled, most within the Main resource area. Unable to raise money because of falling gold prices and strapped with high land payments to the claim owners, Naneco relinquished the property in 1998. MinQuest acquired it shortly thereafter. The Cyprus target, which was evaluated by Cyprus Minerals Company in 1987 was acquired by MinQuest in early 2002.\n\n \n\nThe property was optioned to Rare Earth Metals Corp. (REM) in May of 2002. REM later changed its name to Harvest Gold. Mapping and geochemical sampling of the 7 targets shown on the attached map was completed in October 2002. From 2003 through 2005 REM drilled 30 holes into Main totaling 3,350 meters. The drill holes were angled toward the intersection of the two primary sheeted vein sets. Results showed a 20% improvement in average grade over vertical drilling.\n\n \n\nFollowing the split of REM into Harvest Gold and VMS Ventures, Inc. Harvest performed no further work at Longstreet after late 2005. The property was finally returned to MinQuest in August 2009. By agreement with Minquest, on January 15, 2010 Star Gold Corp. received an option to acquire the portions of the property covered by the option.\n\n \n\nStar Gold began drilling in the fall of 2011. A 16-hole program at Main showed new intercepts at depth in the central portion of the deposit. Intercept thicknesses of +0.01 oz./ton gold equivalent values are 65 to 120 feet. Of the 16 holes drilled 8 have +100 feet thicknesses of +0.01 oz./ton gold equivalent and 4 have +200 feet thicknesses of +0.01 oz./ton gold equivalent. Drill hole LS-1101 has 305 feet of +0.01 oz./ton gold equivalent. Gold equivalent values were derived from the following formula: *AuEq oz./ton = Au oz./ton + (Ag oz./ton)/60.*Drilling results are shown in the table below.\n\n \n\nDrill samples were sent through a rotating, wet sample splitter attached to the drill to reduce the sample volume and maintain a representative sample. Drill helpers, under the supervision of the project geologist, collected and bagged an ‘A’ and ‘B’ sample on 5-foot intervals. Procedurally, an ‘A’ sample is collected and held by the project geologist for security purposes until it can be delivered to an assay facility. The ‘B’ sample then remains on site as a duplicate or backup sample if needed at a later date. A blank and two known ’standard’ pulps are then submitted randomly spaced with each drill hole. Once assays are available, they are examined for unexpected high or low values. If unexpected high or low values are encountered, the ‘B’ splits may be collected and submitted, or the lab may be requested to re-assay the pulp or reject in question. The ‘check’ samples and ’standard’ are examined to insure they agree with the original or know within accepted limits, usually +/- 10%.\n\n \n\nALS Chemex of Reno, Nevada did all sample preparation, including crushing, grinding and preparation of the assay pulps. The samples were never left unattended or unsecured by project geologist, drilling or laboratory staff nor are they handled by officers, directors or associates of Star Gold.\n\n \n\nSample preparation involves crushing the entire sample to -10 mesh, splitting, then pulverizing 1,000 grams to 75% passing 75-micron mesh. These pulps are then transferred within the ALS Chemex facility for assay. Both gold and silver assays are done by fire assay with an AA finish. The standard Star Gold-Longstreet submittal to ALS Chemex requests a 30-gram charge for gold fire assay. Assays which exceed 10 g/ton are automatically subjected to a gravimetric finish. Select sample intervals, usually those near intervals assaying significant gold, are chosen by the project geologist for re-assay also.\n\n \n\nThe Longstreet Project is affiliated with a paleo-hot springs system in a caldera associated volcanic setting. Star Gold hopes to develop an open pit, bulk minable, heap leachable gold/silver mine at Longstreet.\n\n \n\nNo party reading this report should conclude the Longstreet property has economic mineralization due to Longstreet’s proximity to any historic or producing mines and any information regarding any such historic or producing mines is strictly informational relative to location and similar geologic characteristics.\n\n \n\nPage 17\n\n[Table of Contents](#toc)\n\n \n\nRegional Geology and Mineralization: The Longstreet Property is located in the Nevada portion of the Basin and Range Province. This geological province is characterized by repeated episodes of compressional deformation in Paleozoic and Mesozoic time followed by extensional deformation and extensive magmatism and volcanism in Cenozoic time. Gold deposits are most often described as being associated with ‘mineralization trends’ that reflect deep crustal structures and magmatism, such as the ‘Walker Lane’ and the ‘Carlin Trend’. The Longstreet Project is in the Monitor Range, adjacent to the northwest trending Walker Lane volcanic-hosted gold trend that includes such world-class deposits as the Comstock and Goldfields mining camps.\n\n \n\n**2013 Drill Results Longstreet (**≥ **5 feet @**≥ **0.01 oz./ton gold equivalent) 08/26/13**\n\n \n\n**From**\n\n**To**\n\n**Interval**\n\n**TRUE**\n\n**Gold**\n\n**Silver**\n\n**TRUE**\n\n**Gold**\n\n**Silver**\n\n**Au Equiv.**\n\n**Hole No.**\n\n**(feet)**\n\n**(feet)**\n\n**(feet)**\n\n**Width**\n\n**(oz./ton)**\n\n**(oz./ton)**\n\n**Width (m)**\n\n**(g/t)**\n\n**(g/t)**\n\n**(oz./ton)**\n\nLS-1301\n\n45\n\n50\n\n5\n\n5\n\n0.008\n\n0.274\n\n1.5\n\n0.263\n\n9.4\n\n0.012\n\n \n\n150\n\n160\n\n10\n\n10\n\n0.016\n\n0.058\n\n3.0\n\n0.535\n\n2.0\n\n0.017\n\n \n\n190\n\n215\n\n25\n\n25\n\n0.009\n\n0.141\n\n7.6\n\n0.300\n\n4.8\n\n0.011\n\nLS-1302\n\n0\n\n40\n\n40\n\n36\n\n0.015\n\n0.894\n\n11.0\n\n0.516\n\n30.6\n\n0.030\n\n \n\n70\n\n165\n\n95\n\n85.5\n\n0.009\n\n0.482\n\n26.1\n\n0.307\n\n16.5\n\n0.017\n\n \n\n205\n\n270\n\n65\n\n58.5\n\n0.012\n\n0.444\n\n17.8\n\n0.396\n\n15.2\n\n0.019\n\nLS-1303\n\n85\n\n110\n\n25\n\n25\n\n0.003\n\n0.935\n\n7.6\n\n0.098\n\n32.0\n\n0.018\n\n \n\n145\n\n150\n\n5\n\n5\n\n0.009\n\n0.105\n\n1.5\n\n0.292\n\n3.6\n\n0.010\n\n \n\n165\n\n170\n\n5\n\n5\n\n0.007\n\n0.201\n\n1.5\n\n0.238\n\n6.9\n\n0.010\n\n \n\n185\n\n230\n\n45\n\n45\n\n0.006\n\n0.374\n\n13.7\n\n0.191\n\n12.8\n\n0.012\n\n \n\n255\n\n300\n\n45\n\n45\n\n0.004\n\n0.326\n\n13.7\n\n0.148\n\n11.2\n\n0.010\n\nLS-1304\n\n35\n\n50\n\n15\n\n15\n\n0.004\n\n0.388\n\n4.6\n\n0.130\n\n13.3\n\n0.010\n\n \n\n60\n\n85\n\n25\n\n25\n\n0.008\n\n0.384\n\n7.6\n\n0.258\n\n13.1\n\n0.014\n\n \n\n130\n\n155\n\n25\n\n25\n\n0.065\n\n0.467\n\n7.6\n\n2.218\n\n16.0\n\n0.073\n\nLS-1305\n\n15\n\n30\n\n15\n\n15\n\n0.007\n\n0.184\n\n4.6\n\n0.226\n\n6.3\n\n0.010\n\n \n\n45\n\n145\n\n100\n\n100\n\n0.009\n\n0.306\n\n30.5\n\n0.305\n\n10.5\n\n0.014\n\n \n\n210\n\n220\n\n10\n\n10\n\n0.006\n\n0.291\n\n3.0\n\n0.220\n\n10.0\n\n0.011\n\nLS-1306\n\n45\n\n50\n\n5\n\n5\n\n0.004\n\n0.523\n\n1.5\n\n0.120\n\n17.9\n\n0.012\n\n \n\n205\n\n295\n\n90\n\n90\n\n0.003\n\n0.521\n\n27.4\n\n0.095\n\n17.9\n\n0.011\n\nLS-1307\n\n120\n\n145\n\n25\n\n25\n\n0.007\n\n0.783\n\n7.6\n\n0.236\n\n26.8\n\n0.020\n\nLS-1308\n\n85\n\n90\n\n5\n\n5\n\n0.009\n\n0.146\n\n1.5\n\n0.314\n\n5.0\n\n0.012\n\n \n\n180\n\n190\n\n10\n\n10\n\n0.003\n\n0.444\n\n3.0\n\n0.101\n\n15.2\n\n0.010\n\n \n\n280\n\n340\n\n60\n\n60\n\n0.003\n\n0.833\n\n18.3\n\n0.104\n\n28.5\n\n0.017\n\nLS-1309\n\n0\n\n10\n\n10\n\n10\n\n0.015\n\n0.304\n\n3.0\n\n0.509\n\n10.4\n\n0.020\n\n \n\n40\n\n265\n\n225\n\n225\n\n0.022\n\n0.678\n\n68.6\n\n0.750\n\n23.2\n\n0.033\n\n \n\n330\n\n340\n\n10\n\n10\n\n0.005\n\n0.492\n\n3.0\n\n0.169\n\n16.9\n\n0.013\n\nLS-1310\n\n0\n\n20\n\n20\n\n20\n\n0.010\n\n0.349\n\n6.1\n\n0.342\n\n12.0\n\n0.016\n\nLS-1311\n\n0\n\n30\n\n30\n\n30\n\n0.004\n\n0.471\n\n9.1\n\n0.140\n\n16.1\n\n0.012\n\n \n\n50\n\n115\n\n65\n\n65\n\n0.010\n\n0.798\n\n19.8\n\n0.351\n\n27.3\n\n0.024\n\n \n\n350\n\n360\n\n10\n\n10\n\n0.002\n\n0.581\n\n3.0\n\n0.070\n\n19.9\n\n0.012\n\nLS-1312\n\n45\n\n60\n\n15\n\n15\n\n0.010\n\n0.091\n\n4.6\n\n0.343\n\n3.1\n\n0.012\n\n \n\n120\n\n125\n\n5\n\n5\n\n0.005\n\n0.321\n\n1.5\n\n0.172\n\n11.0\n\n0.010\n\n \n\n150\n\n255\n\n105\n\n105\n\n0.012\n\n1.056\n\n32.0\n\n0.423\n\n36.2\n\n0.030\n\n \n\n290\n\n380\n\n90\n\n90\n\n0.006\n\n0.494\n\n27.4\n\n0.191\n\n16.9\n\n0.014\n\nLS-1313\n\n0\n\n15\n\n15\n\n15\n\n0.009\n\n0.288\n\n4.6\n\n0.308\n\n9.9\n\n0.014\n\n \n\n50\n\n105\n\n55\n\n55\n\n0.019\n\n0.735\n\n16.8\n\n0.641\n\n25.2\n\n0.031\n\n \n\n120\n\n130\n\n10\n\n10\n\n0.004\n\n0.720\n\n3.0\n\n0.138\n\n24.7\n\n0.016\n\n \n\n160\n\n200\n\n40\n\n40\n\n0.038\n\n0.810\n\n12.2\n\n1.300\n\n27.7\n\n0.051\n\n \n\n245\n\n250\n\n5\n\n5\n\n0.013\n\n0.277\n\n1.5\n\n0.439\n\n9.5\n\n0.017\n\nLS-1314\n\n0\n\n65\n\n65\n\n65\n\n0.017\n\n0.787\n\n19.8\n\n0.572\n\n27.0\n\n0.030\n\n \n\n245\n\n340\n\n95\n\n95\n\n0.004\n\n1.424\n\n29.0\n\n0.134\n\n48.8\n\n0.028\n\n \n\n355\n\n380\n\n25\n\n25\n\n0.003\n\n0.423\n\n7.6\n\n0.102\n\n14.5\n\n0.010\n\nLS-1315\n\n0\n\n15\n\n15\n\n15\n\n0.005\n\n0.318\n\n4.6\n\n0.176\n\n10.9\n\n0.010\n\n \n\n50\n\n55\n\n5\n\n5\n\n0.012\n\n0.520\n\n1.5\n\n0.406\n\n17.8\n\n0.021\n\n \n\n95\n\n100\n\n5\n\n5\n\n0.003\n\n0.742\n\n1.5\n\n0.093\n\n25.4\n\n0.015\n\n \n\n145\n\n150\n\n5\n\n5\n\n0.002\n\n1.323\n\n1.5\n\n0.056\n\n45.3\n\n0.024\n\n \n\n205\n\n210\n\n5\n\n5\n\n0.003\n\n0.689\n\n1.5\n\n0.092\n\n23.6\n\n0.014\n\nLS-1316\n\n0\n\n30\n\n30\n\n30\n\n0.014\n\n0.215\n\n9.1\n\n0.482\n\n7.4\n\n0.018\n\n \n\n175\n\n185\n\n10\n\n10\n\n0.010\n\n0.254\n\n3.0\n\n0.334\n\n8.7\n\n0.014\n\n \n\n220\n\n225\n\n5\n\n5\n\n0.012\n\n0.239\n\n1.5\n\n0.408\n\n8.2\n\n0.016\n\n \n\n240\n\n280\n\n40\n\n40\n\n0.019\n\n0.596\n\n12.2\n\n0.651\n\n20.4\n\n0.029\n\nLS-1317\n\n50\n\n55\n\n5\n\n5\n\n0.004\n\n0.493\n\n1.5\n\n0.153\n\n16.9\n\n0.013\n\n \n\n95\n\n100\n\n5\n\n5\n\n0.003\n\n0.432\n\n1.5\n\n0.096\n\n14.8\n\n0.010\n\nLS-1318\n\n0\n\n15\n\n15\n\n15\n\n0.009\n\n0.450\n\n4.6\n\n0.323\n\n15.4\n\n0.017\n\n \n\n25\n\n75\n\n50\n\n50\n\n0.005\n\n0.281\n\n15.2\n\n0.186\n\n9.6\n\n0.010\n\nLS-1319\n\n0\n\n20\n\n20\n\n20\n\n0.015\n\n0.190\n\n6.1\n\n0.503\n\n6.5\n\n0.018\n\n \n\n175\n\n205\n\n30\n\n30\n\n0.032\n\n10.340\n\n9.1\n\n1.087\n\n354.1\n\n0.204\n\nincluding\n\n180\n\n185\n\n5\n\n5\n\n0.166\n\n54.312\n\n1.5\n\n5.690\n\n1,860.0\n\n1.071\n\nLS-1320\n\n \n \n \n\nHole abandoned at 100 feet. No +0.01 Au Equiv. results\n\n \n\n \n\nNote: Au Equiv. calculation uses Au/Ag ratio of 60/1\n\n \n\nPage 18\n\n[Table of Contents](#toc)\n\n \n\nThe Monitor Range is a westward-tilted fault block that has been elevated by normal faults along its eastern front and is typical of the uplifted mountains of the Basin and Range Province. The ranges are topographic highs rising above alluvium-filled valleys generated by Tertiary extensional tectonics. Central Nevada was an area of intense Oligocene – Miocene ash-flow volcanism that created numerous calderas and their outflow products. At least 13 calderas that range in age between 32 and 22 Ma have been mapped or interpreted in the area extending from the Shoshone Mountains eastward to the Monitor Range. The southern Monitor Range consists Mainly of Tertiary age volcanic and hypabyssal rocks related to the eruption of the Big Ten Peak volcano and a nearby unnamed 29 Ma caldera (Kleinhampl and Ziony, 1985) intruding and overlying Paleozoic sedimentary and metamorphic rocks.\n\n \n\nThe Paleozoic rocks are thrust-faulted marine sedimentary rocks comprised of quartzite, argillite and limestone of Cambrian, Ordovician and Silurian age. Minor amounts of Permian marine sediments are also present in the Georges Canyon area.\n\n \n\nIn the southern Monitor Range Tertiary age volcanic rocks comprise more than 90% of the exposed bedrock. These rocks are more than 1 km thick and are predominantly flat lying. Early Oligocene to early Miocene rhyolitic to dacitic ash-flow tuffs, with rhyolitic welded tuff are the thickest and most extensive units. Most of the Tertiary intrusions in the region are rhyolitic, but several small dacitic to andesitic dikes are present in the Georges Canyon area.\n\n \n\nMineral deposits in this part of the Basin and Range Province are varied and widespread and some of them have had substantial metal production..\n\n \n\nThe oxidized ore is described as a closely spaced set of steeply dipping veins and veinlets following northwest-trending faults and associated joints over broad areas. Significant gold mineralization is not found in northeast-trending faults and fractures. The vein/veinlet system contains quartz, adularia, limonite (oxidized from pyrite), manganese oxide and associated native free gold. Flat veins are similar to the steep veins in character and mineral content, but with more brecciation of the wall rocks. Gold contents also appear to be higher in the flat veins. The adularia in the ore related veins is dated at 25.9 to 26.6 Ma. (Henry, Castor and Elson, 1996).\n\n \n\nNo party reading this report should conclude the Longstreet Property has economic mineralization due to Longstreet’s proximity to any historic or producing mines and any information regarding any such historic or producing mines is strictly informational relative to location and similar geologic characteristics.\n\n \n\nHydrothermal alteration associated with the bulk mineable ore is evidenced by silicification and the replacement of magmatic feldspar by hydrothermal feldspar engendered by a potassium-rich hydrothermal fluid (Sander, 1988).\n\n \n\nPage 19\n\n[Table of Contents](#toc)\n\n \n\n**Metallurgy: 2013 Metallurgical Test Program**\n\n \n\nThe 2013 metallurgical test work program was conducted by McLelland Laboratories under the direction of a QP metallurgical engineer contracted by Star Gold. The program included bottle roll tests, column tests and comminution tests and mineralogical examination.\n\n \n\n**Section Sample Assays**\n\n \n\nA total of 65 underground adit samples weighing 816 pounds (370kg) and three surface samples weighing 904 pounds (410kg) were collected for metallurgical testing. Each of these samples were crushed to 100% -2 inches (50mm) and assayed for gold and silver in duplicate. Samples were combined to generate surface and underground composites, as well as a blended master composite. Triplicate direct assays were conducted on each composite. Standard deviations between triplicate head assays were high, particularly for the surface master composite. The agreement between the triplicate splits was not good, however the average of the triplicate assays is close to what was expected, based on the section assays. It was noted that the quality control samples all checked out as well, which indicates that the assays are good and the gold occurrence in the potentially economic mineralization is just a little “spotty”.\n\n \n\n**.1 Gold Head Assays and Head Grade Comparisons**\n\n \n\n**Longstreet Composites**\n\n \n\n**SMC, g/mt**\n\n**UMC, g/mt**\n\n**BMC, g/mt**\n\nDetermination\n\n**Au**\n\n**Ag**\n\n**Au**\n\n**Ag**\n\n**Au**\n\n**Ag**\n\nDirect Assay, Init.\n\n0.21\n\n17\n\n0.7\n\n67\n\n0.57\n\n40\n\nDirect Assay, Dup.\n\n0.67\n\n34\n\n0.82\n\n63\n\n0.66\n\n41\n\nDirect Assay, Trip.\n\n0.37\n\n21\n\n1.09\n\n53\n\n0.77\n\n50\n\nAverage\n\n0.42\n\n24\n\n0.87\n\n61\n\n0.67\n\n44\n\nStd. Deviation\n\n0.23\n\n9\n\n0.2\n\n7\n\n0.1\n\n6\n\n \n\nA total of twenty pieces of rock from both underground and surface were selected for comminution testing. The remainder of the samples were separately stage crushed to 100% -2-inches (-50mm). Each of the underground and surface samples were then blended to form a master composite representing both the underground and surface samples. The blended sample was then split to generate a third master composite. Samples were collected for bottle roll tests. All composites were then further crushed to 80% -3/4 inch (19mm), blended, then split into 75kg lots for column testing.\n\n \n\nPage 20\n\n[Table of Contents](#toc)\n\n \n\n**Bottle Roll Testing**\n\n \n\nA bottle roll test was conducted on each of the three composites at an 80% -10 Mesh (1.7mm) feed size to determine lime requirements for column leach testing. Gold and silver recoveries were similar for all three composites. Gold recoveries ranged from 80.6% to 81.9% and silver recoveries ranged from 17.5% to 20.0%.\n\n \n\nAdditional bottle roll tests, at a cyanide concentration of 1.0g NaCN/L were conducted on the blended master composite at feed sizes of 100% -2 inches (50mm), 80% -3/4 inches (19mm) and 80% -1/4 inch (6.3mm) to determine sensitivity to feed size. The blended master composite showed a moderate sensitivity to feed size with respect to gold and silver recovery. Recovery was 18.4% higher for gold, and 13.9% higher for silver, at a feed size of 80% -1/16 inches (1.7mm) than at a feed size of 100% -2 inches (50mm).\n\n \n\nSilver recovery, for each bottle roll test conducted, was low. In order to investigate the cause of the low silver recovery, three additional bottle roll tests were conducted on the blended master composite to determine response to increased cyanide concentration (5.0g NaCN/L) at typical heap leach (80% -3/4 inches, 80% -1/4 inches) and milled (80% -200 Mesh (75µm)) feed sizes.\n\n \n\nResults showed that increasing the cyanide concentration did not significantly increase silver recovery at heap leach feed sizes, however, silver recovery increased substantially when feed was finely ground. Silver recovery was 60.6% from the bottle roll test conducted on 80% -200 mesh material. Gold recovery was also moderately higher when fine grinding was employed. Mineralogical analysis of head and tail samples of the blended master composite confirm that the primary reason for low silver recovery is due to the very fine-grained nature of the silver sulfide, which when exposed, is readily leachable. The silver leach rate at 200 mesh was extremely fast. Silver recovery was complete within the first two hours, which suggests that the silver mineralization is very fast leaching once liberated. In contrast, silver-bearing jarosites tend to be refractory and are usually unaffected by leaching regardless of the grind size.\n\n \n\nSummary results from bottle roll testing are as follows:\n\n \n\n**2 Bottle Roll Test Results, 2013**\n\n \n\n**Table 1. - Summary Metallurgical Results, Bottle Roll Tests, Longstreet Mine Composites**\n\n \n \n\nNaCN\n\nAu\n\ngAu/mt ore\n\nAg\n\ngAg/mt ore\n\nReagent\n\nRequirements\n\n \n\nFeed\n\nConc.\n\nRecovery,\n\n \n \n\nCalculated\n\nHead\n\nRecovery,\n\n \n \n\nCalculated\n\nHead\n\nkg/mt ore\n\nComposite\n\nSize\n\ng/L\n\n%\n\nExtracted\n\nTail\n\nHead\n\nAssay\n\n%\n\nExtracted\n\nTail\n\nHead\n\nAssay\n\nNaCN Cons.\n\nLime Added\n\nSMC\n\n80%-1.7mm\n\n1\n\n80.6\n\n0.25\n\n0.06\n\n0.31\n\n0.42\n\n20\n\n5\n\n20\n\n25\n\n24\n\n0.08\n\n2.1\n\nUMC\n\n80%-1.7mm\n\n1\n\n81.9\n\n0.68\n\n0.15\n\n0.83\n\n0.87\n\n18.9\n\n10\n\n43\n\n53\n\n61\n\n0.13\n\n3.4\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nBMC\n\n100%-50mm\n\n1\n\n62.9\n\n0.44\n\n0.26\n\n0.7\n\n0.67\n\n3.6\n\n2\n\n54\n\n56\n\n44\n\n0.07\n\n1.3\n\nBMC\n\n80%-19mm\n\n1\n\n67.1\n\n0.51\n\n0.25\n\n0.76\n\n0.67\n\n12.8\n\n5\n\n34\n\n39\n\n44\n\n0.07\n\n2.1\n\nBMC\n\n80%-6.3mm\n\n1\n\n77.9\n\n0.53\n\n0.15\n\n0.68\n\n0.67\n\n13.6\n\n6\n\n38\n\n44\n\n44\n\n<0.07\n\n3.0\n\nBMC\n\n80%-1.7mm\n\n1\n\n81.3\n\n0.52\n\n0.12\n\n0.64\n\n0.67\n\n17.5\n\n7\n\n33\n\n40\n\n44\n\n0.13\n\n2.5\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nBMC\n\n80%-19mm\n\n5\n\n76.4\n\n0.55\n\n0.17\n\n0.72\n\n0.67\n\n14.6\n\n6\n\n35\n\n41\n\n44\n\n0.48\n\n1.0\n\nBMC\n\n80%-6.3mm\n\n5\n\n77.6\n\n0.45\n\n0.13\n\n0.58\n\n0.67\n\n14\n\n6\n\n37\n\n43\n\n44\n\n0.67\n\n1.0\n\nBMC\n\n80%-75µm\n\n5\n\n88.7\n\n0.47\n\n0.06\n\n0.53\n\n0.67\n\n60.6\n\n20\n\n13\n\n33\n\n44\n\n0.91\n\n1.3\n\n \n\nBoth gold and silver recoveries are slightly improved with increased crush size, the increase in recovery is more pronounced in the silver as compared to gold when a fine grind is applied. It is important to keep in mind that in order to reduce the particle size to 80% passing 75 microns a conventional comminution circuit employing crushing and grinding would be required.\n\n \n\nPage 21\n\n[Table of Contents](#toc)\n\n \n\n \n\n**Column Leach Testing**\n\n \n\nColumn leach test were conducted on each of the master composites, utilizing a feed size of 80% -3/4 inch (19 mm) in order to determine gold and silver recoveries, recovery rates and reagent requirements under simulated heap leach conditions. Lime additions were based on bottle roll tests. Test columns were sized at 15 cm diameter by 3 meters high using PVC piping with material stacked in the leaching columns in a manner in which to minimize particle segregation and compaction. Leaching was conducted by applying a cyanide solution of 1.0g NACN/L over the charge at a feed rate of 12 Lph/m2 of column cross sectional area. After leaching, freshwater rinsing was conducted to remove residual cyanide and to recover dissolved gold and silver values.\n\n \n\nDetail column leach tests data, including screen analysis of the feed and tails and drain down rates can be found in the Appendix, identified as McLelland Report No. *3829 titled Heap Leach Cyanidation Testing Longstreet Project*, dated April 6, 2014.\n\n \n\nAll three composites were leached for 190 days. Gold and silver extractions for the surface master composite (SMC) reached 88.9 % and 20.0 %, respectively. Gold and silver extraction for the underground master composites (UMC) was 84.6 % for gold and 15.4 % for silver. The master blend composite (MBC) achieved gold and silver recoveries of 86.3% and 16.7% respectively.\n\n \n\n**3 Summary Metallurgical Test Results**\n\n \n\n**Summary Metallurgical Results, Column Percolation Leach Tests, Longstreet Mine Composites,**\n\n**80%-19mm Feed Size**\n\n \n \n \n \n \n \n \n \n\n**NaCN**\n\n \n\n**Sample**\n\n**Test**\n\n**Leach/rinse**\n\n**mt/mt ore**\n\n**g Au/mt ore**\n\n**Average**\n\n**g Ag/mt ore**\n\n**Average**\n\n**consumed**\n\n**Lime added**\n\n**I.D.**\n\n**No.**\n\n**Time, days**\n\n \n\n**Extracted**\n\n**Head**\n\n**Extracted**\n\n**Head**\n\n**kg/mt ore**\n\n**kg/mt ore**\n\nSMC\n\nP-1\n\n153\n\n4.8\n\n0.32\n\n0.38\n\n5\n\n24\n\n1.45\n\n1.7\n\nUMC\n\nP-2\n\n158\n\n5.3\n\n0.59\n\n0.85\n\n7\n\n60\n\n1.90\n\n2.7\n\nBMC\n\nP-3\n\n158\n\n5.2\n\n0.63\n\n0.68\n\n8\n\n45\n\n1.78\n\n2.0\n\n \n\nRecovery results by size fraction for all three master composites indicates that finer crushing would not substantially improve gold recovery. Gold recovery was similar throughout the various size fractions with only a slightly elevated recovery in the finest size fraction (-75 microns). Silver recovery on the other hand would benefit from a finer particle size and would require fine grinding in order to maximize recovery.\n\n \n\nPage 22\n\n[Table of Contents](#toc)\n\n \n\nOverall metallurgical results indicate that the Longstreet master composites are readily amenable to simulated heap leach treatment at 80 % -19 mm feed size. Gold recoveries for all three composites were similar and ranged from 84.6 % to 88.9 % in 190 days of leaching and rinsing. Silver recoveries were similar for all three samples, with recoveries ranging from 15.4 % to 20.0%.\n\n \n\nIt is important to note that although the column tests were conducted over a period of 190 days, gold extraction was essentially completed in the first 30 days of leaching. Silver leach rates, on the other hand, were very slow and it is not expected that they would improve beyond the 190-day cycle.\n\n \n\nCyanide consumption rates were high and ranged from 1.56 to 1.93 kg NaCN/t of ore. This was due in part to the long leach times. Cyanide consumption rates in a commercial operation are typically much lower.\n\n \n\nFigures 8.4, 8.5 and 8.6 diagrammatically illustrate the leach rates and results for gold and silver.\n\n \n\n \n\n**Figure 8.4 Surface Master composite leach kinetics**\n\n \n\nPage 23\n\n[Table of Contents](#toc)\n\n \n\n \n\n**Figure 8.5 Underground master composite leach kinetics**\n\n \n\n \n\n**Figure 8.6 Master blend composite leach kinetics**\n\n \n\n**Property Geology**: Geologic mapping by MinQuest since 2002 indicates that the majority of the Longstreet Project is underlain by moderately to poorly welded rhyolite ash-flow tuff (‘Tat’) containing conspicuous exotic lithic fragments and pumice. The ash-flow tuff unit is buff to gray, and contains <10% quartz phenocrysts, 15% feldspar phenocrysts, 5-15% pumice and 5-20% other exotic fragments in an aphanitic groundmass (Liedtke, 1984). Hydrothermal alteration is prevalent and consists of argillic (bleaching and clay mineral development), silicic (pervasive silica flooding, or extremely high veinlet density) and potassic (adularia in quartz veinlets). Limonite and geothite development are considered to be weathering phenomena. \n\n \n\nPage 24\n\n[Table of Contents](#toc)\n\n \n\nThe Tat tuff unit displays horizontal bedding and may be in the order of 3,000 feet thick. The ash-flow tuff is intruded by rhyolite porphyry dykes (‘Trp’) exhibiting various orientations and may represent feeder conduits to now-eroded rhyolitic lithologies higher in the stratigraphy.\n\n \n\nA thin discontinuous unit of volcaniclastic and siliceous sediments (‘Ts’), including sinter is deposited upon the ash-flow tuff unit. The unit is white, yellowish and light gray, bedded in part and probably represents a hiatus in volcanism. Siliceous alteration resulting in the development of sheeted quartz vein systems affects the Tat, Ts and Trp rock units.\n\n \n\nOverlying the Tat tuff and the Ts sediments is a black to brown strongly welded ash-flow tuff (‘Trt’) that forms bluffs and caps ridges. This unit has a distinctive thin (about 10 feet) vitrophyre zone near its base. This unit is estimated to be 300 to 450 feet thick and possibly a correlative of the Saulsbury Wash Formation (21.6 +/- 0.6 Ma).\n\n \n\nThe tectonic fabric on the Longstreet Project includes two Main directions of faulting/fracturing that have an influence on the mineralization. An east-trending steeply north-dipping system of fractures and faults has been noted at five of the seven gold / silver zones on the Property (see Figure 6). Quartz –adularia – limonite veins / veinlets and ‘rusty fractures’ following this trend contain gold mineralization. The other important gold / silver-bearing fault/fracture direction is 300-330° with steep north dips and is characterized by sheeted quartz veins / veinlets and ‘rusty fractures’. The vein / veinlets also contain adularia and iron oxide minerals derived from the oxidation of sulfide minerals. This mineralized trend occurs at all seven of the gold / silver zones known on the Longstreet Project. Major displacement is not a feature of these structures.\n\n \n\nThe Longstreet project is an example of gold / silver mineralization related to east-trending structures. An east-tending fault dipping 40-55° is associated with the highest-grade gold / silver mineralization known to date. The bulk of the gold / silver mineralization in the Longstreet Mine is contained in steeply dipping multiple vein sets in the hanging wall of the fault.\n\n \n\nLiedtke (1984) indicates that similar fault directions are known 4,600 feet south and 2,800 feet north of the Longstreet Project, which may host similar high-grade gold / silver mineralization.\n\n \n\n**Targets:**A short description of the 7 currently identified drilling targets at Longstreet follows:\n\n \n\n**Main**- The target consists of intersecting high-angle NW and E-W sheeted vein systems. Completion of an angle drilling program to the southwest perpendicular to the intersection of the two vein sets will continue to produce improved continuity and higher tonnage and grade. Un-drilled extensions of this mineralization are indicated to the southeast and west.\n\n \n\n**NE Main**: Approximately 450m N-NE of the Main resource there is a poorly exposed, un-drilled target that looks identical to Main. Sampling of surface veins at NE Main reveal anomalous gold values.\n\n \n\n**Opal Ridge:**This is an erosional remnant of a sinter apron that once covered a much larger area. Extensions of the Main resource are down-dropped approximately 60m with an apparent displacement to the north of less than 10m. E-W and NW high level opal-rich veins are exposed in the lower portion of the apron with anomalous gold values. Although there may be a higher stripping ratio here, more of the deposit may be preserved.\n\n \n\n**North:**This is a sheeted vein system with identical vein attitudes to Main. The western end of the target has the strongest exposed mineralization.\n\n \n\n**Cyprus Ridge Zone:** Quartz veins up to 5 m thick occur in this 1.1 km long northwest trending sheeted vein system. Cyprus Minerals Company completed a 920 m drill program in 1987. All of the Cyprus holes were vertical or high angle and none tested the large primary vein set. No high-grade gold was intersected in their drilling. MinQuest mapped the intricate vein system in 2002 and collected 41 surface samples that contained anomalous to highly anomalous (several times background to hundreds of times background) veins. Due to the abundance of low temperature silica, MinQuest concluded that the gold values are leakage anomalies from a deeper boiling zone. The boiling zone is a high priority drill target.\n\n \n\n**Red Knob Zone**: Mineralization outcrops as northwest trending sheeted quartz-adularia veins over an area 150m wide by 300m long. Surface sampling found anomalous gold values. In addition, a boulder field on the north side of the target contains quartz-adularia veins up to 1m in thickness in an area of no outcrop. Drill intercepts from two holes testing a small portion of the target revealed anomalous gold values.\n\n \n\n**Spire**: This is an E-W vertical to steeply north dipping sheeted vein system. Intersecting NW trending veins are present but are much less abundant than at Main. Surface sampling at Spire had detected anomalous gold values.\n\n \n\nPage 25\n\n[Table of Contents](#toc)\n\n \n\nThe Company has not engaged in any exploration activities since 2015.  Our activities since that time have been primarily related to wildlife studies, economic feasibility studies, archaeological studies and other related activities intended to moving toward developing a Plan of Operations and obtaining a permit to construct a mine.  Star Gold’s geologists believe sampling and drilling results to date warrant optimism of one or more economic, near surface, bulk-mineable, heap leach-recoverable gold-silver deposits at the Longstreet Project targets described above. In addition, sampling at surface near the Cyprus target suggests the presence of higher-grade veins, which may be suitable to underground mining methods. Situated on a high ridge-top, it could be easily mined from a canyon elevation adit.\n\n \n\nMinQuest personnel have done all data verification regarding the Company’s sampling and drilling results, including comparing the list of samples sent to the laboratory and sampling results from the laboratory.  In particular, the MinQuest quality assurance and quality control (QA/QC) program includes:\n\n \n\n \n\n●\n\nInsertion of a blank and two standards (pulp) of known gold and silver concentration at the at the frequency of approximately one in every 20 samples\n\n \n\n●\n\nInsertion of a B sample, if unexpected high or low values are encountered, at the frequency of 1 in every 30 samples, and sent to the laboratory together with the A samples.\n\n \n\n●\n\nDuplicate assays, i.e., re-assay of values higher than 1 g/t Au.\n\n \n\n●\n\nAnalysis of assay results of the standards.\n\n \n\nA-Z Mining has also verified the data presented.\n\n \n\n**Environmental, plan of operation and reclamation:** To the Company’s knowledge, there is no known surface disturbance or groundwater contamination from previous mining activities. Remediation activities are performed immediately after completion of exploratory drilling. With respect to historical mining activities, there is no indication of reclamation at this time and, therefore, the Company has no plans to remediate. The Longstreet Property is within Forest Service lands and Star Gold has applied for and received a Plan of Operation from the Forest Service allowing exploration drilling. A surface disturbance bond of $89,400 has been paid and is held by the Forest Service until reclamation is completed. There are no other significant environmental requirements."}