18 WWWNEW G O L D C O M TSXNGD NY SE Am er ic an NG D DEVELOPMENT AND EX PLORAT ION REVIEW Blackwater Project Bri t ish Columbia Canada Blackwate r i s a bul kton nag e goldsil v e r proje c t lo ca te d app ro ximat e ly 1 60 kilom e tres so uthwest of Prin ce George a city of appro x im ately 8000 0 peopl e in cent ral British Columbia Ca n ada The proj ect pro pert y positio n co ve rs o v e r 1000 squ a re kilom e tres a nd is l o cate d nea r infrast r u c ture Environme n tal and pe rmitting acti vities Followi ng su cce ssful compl e tion of the environm ental asse ssm ent pha se EA and the re cei p t of an EA certification in 2019 the Co mpan y ha s b een prepa rin g submi s sion s to reg u latory autho rities t o compl y with con d ition s of its EA appro v als This follo ws the 20 19 a nnou ncement that the federal Ministe r of Environme n t and Clim ate Chan ge issue d a posi t ive de cisi on st atement rega rdi ng Blackw ater s e n vironm ental asse ssm ent unde r the Canadia n Enviro nmental Asse ss ment Act Engage ment and negotiati ons with First Nation s re ga rding pa rticip a t ion agre e me nts PA s co ntinue The Company will continue to assess alternative proj ec t scenarios at Blackwater that would i n vol v e l o wer initial capital requi rem ents and highe rg r ade pit In addi tion the Compan y is co nsid erin g oth e r strategi c alternati v e s with resp ect to the Blackwat er proje c t P r oje c t co st s For the three months end ed March 31 2020 capital expen ditures totaled 81 million comp ared to 1 9 million in the prio ryea r pe riod Expen diture s in 20 20 related to en vi ronm ental an d engin eeri n g studie s and work to comp ly with the co ndition s of its EA appro v al as well as di scu ssi on s with First Natio n s on PAs