Page 26 Page 26 Page 26 Moneta Por cupine Mines Golden Highway Pr oject moving ahead By Kevin V incent It s not called the Golden Highway for no apparent reason and Moneta Porcupine Mines MPM continues to carve out its part of that famous landscape The junior miner is aggressively moving forward following the completion in late 2018 of a new geological interpretation model of highgrade structures 1 10km east of T immins At any moment the company expects to release an updated resource estimate on its Golden Highway Project MPM says it has increased the number of structures to 58 scattered among six deposit areas The company says 44 of the mineralized structures are part of the region known as the Branded Iron Foundation while the remaining 14 are located along the worldfamous Destor Porcupine Fault Zone DPFZ The Moneta geological team has completed a thorough and detailed reinterpretation of the highgrade controlling structures on six 6 deposit areas within the Golden Highway Project Detailed alteration and mineralization logging as well as structural interpreta tion has confrmed the contin uity of the structures which form the basis of the wireframes currently being used in the pending resource estimate update Gary OConnor CEO Chief Geologist commented A total of 58 mineralized structures have now been modelled signifcantly expanding the scope of the resource which is due to be completed in early 2019 Interpretation has also identifed additional mineralized zones on the project outside the current resource update highlighting additional exploration upside he added The new estimate is going to be well defned Moneta has more than 350000 metres of drill data The estimate will be based on 1108 holes for 35205550m of drilling including 74 new drill holes for 4288050m com pleted between September 2017 and August 2018 The updated resource will also include the results of 25 drill holes for 1 178122m drilled in early 2017 1 1 drill holes completed in 2016 for 60520 m and 1 12 drill holes completed during 20132014 for 497190 m not previously included in a resource According to a company news release a total of 1300 mineralized intercepts were identifed relogged and assayed if not historically sampled with structures confrmed and used in the development of the new resource model On average each sediment hosted mineralized structure has been defned by over 59 drill intercepts The Company holds a 100 interest in fve core gold projects strategically located along the Destor Porcupine Fault Zone in the T immins Gold Camp with over 75 million ounces of past gold production The projects consist of the Gold en Highway North T isdale Nighthawk Lake Kayorum and Denton projects The Golden Highway Project covers 12 kilometres of prospective ultramafcmafc volcanicsedimentary rocks along the DPFZ hosting a NI 43101 indicated resource estimate of 1091000 ounces 311 Mt at 109 gt Au and 3204000 ounces inferred 833 Mt at 120 gt Au clustered within four kilometres On December 24 2018 Moneta Porcupine Mines Inc announced the closing of a nonbrokered private placement The Company issued 3333334 common shares on a fowthrough basis at a price of 015 per share for gross proceeds of 500000 Gross Proceeds Ian C Peres President and CFO commented This fowthrough fnancing was fully subscribed by a long term strategic investor This in tandem with our other strong shareholders will be instrumental as we release what we believe could be a transformational updated NI 43101 resource estimate on our Golden Highway Project in January 2019 The Gross Proceeds of the Placement will be used to incur Canadian exploration expenditures that are fowthrough mining expenditures as such terms are defned in the Income T ax Act Canada on the Company s Golden Highway project which will be renounced to the subscribers with an efective date no later than December 31 2018 There were no purchase warrants or fnder s fees associated with this Placement and the subscriber agreed to a common share resale restriction that expires in one year in Decemb er 2019 The Placement is subject to a standard four month hold period and fnal regulatory approval