LOCATIONS

Copper Prince

Copper Prince is a block of 16 contiguous patented mining claims (260 hectares) in the Sudbury Basin, an area renowned for its world-class polymetallic sulphide ore deposits, owned 100% by Green Swan. Since the initial acquisition in June, 2016, Green Swan has staked other contiguous and non-contiguous claims in the area, including into Dryden Township. They all lie within the Huronian Gold Belt, a prolific zone of past gold producers that extends a distance of roughly 120 kilometers. Mining infrastructure, labour and knowledge are easily accessible in this mining-friendly jurisdiction.

Permitting is much simpler on patented lands.

Green Swan carried out a successful drill program in November, 2016, proving continuity of gold and cobalt mineralization at the south end of the property near “Ed’s Watering Hole”, and showing elevated cobalt values above the Sudbury average. The team is eager to return to the field for further work. See the January 11, 2017 press release for details.

“Our team actively searched for a Canadian cobalt property for almost a year, as we wanted to benefit from the looming global cobalt shortage and be in a stable mining jurisdiction,” said Peter M. Clausi, Green Swan’s CEO.

“Cobalt is needed to create lithium ion batteries for handheld devices, power tools, laptops, and electric vehicles. It is estimated that each Model 3 to be sold by Tesla Motors will consume 15 kg to 22 kg of cobalt per car. Tesla intends to sell 500,000 Model 3’s by 2018. The world’s largest producer of cobalt, the Congo, has seen production fall 9% in 2016, leading to a significant supply gap. We see value in Sudbury.”

Prior to Green Swan acquiring it, exploration work on Copper Prince had been carried out by various parties since the late 1880’s. Some historic data cannot be found. Green Swan has found two prior NI 43-101 reports on this property prepared for third parties and filed at SEDAR, which reports summarize the historic work carried out and some of the recent results obtained. Markings and saw cuts from prior work by third parties can be found on some outcroppings, largely in the middle of the property. These results have not been verified by Green Swan’s Qualified Person.

This work report was prepared for and on behalf of third parties, and not under the supervision of Green Swan or its Qualified Persons. It was prepared prior to Green Swan owning the underlying asset. The data may not be relevant to the reader's use and may be out of date. Additional work may be needed to verify the results or opinions set out in this report.

A notable cobaltite-in-quartz zone is described in the September, 2008 technical report as being found in the southeast claims comprising a 30-40cm wide quartz vein on the contact of the Nipissing Diabase with coarse grained cobaltite. Green Swan removed overburden from this area in the summer of 2016, and revealed broader quartz veining on that contact. It was in this area that Green Swan drilled in November, 2016.

One historic sample from Copper Prince, number A195883, assay by Bell White Laboratories in Haileybury, ON (October 1991), returned 3.26% Cobalt, with 14 g/t Gold. A second sample, number A195885 assayed 2.62% Cobalt (Co) and 0.88% Nickel (Ni). Both samples had traces of copper, silver and PGE.

There are three samples shown in the pictures to the left, each taken from the surface of the target property in May, 2016 by Green Swan’s field team as part of its technical due diligence.

The first picture shows two slices from the same grab sample taken from a historic blasted pit.

In situ the rock appears like a skarn with carbonate (white) and tremolite- actinolite thin blades (light greenish in colour).

The samples on the left in Picture 1 shows one large (> 4cm) cobaltite crystal, compared to typical mm to micron -sized cobaltite grains in the Sudbury Ni-Cu-PGE ores. This sample was cut with a rock saw and for presentation purposes one side was sprayed with a clear-coat lacquer to darken it.

The samples on the left in Picture 1 is another slice from that same rock, showing large cm-sized cobaltite crystals. This slice is back from analysis and the results are out. Read about the results here.

Picture 2 shows smaller cobaltite crystals along the rusty rim and the distinctive pinkish erythrite coating, a secondary alteration cobalt containing mineral. Green Swan management also has this sample at head office.

“Our team actively searched for a Canadian cobalt property for almost a year, as we see the looming global cobalt shortage,” said Peter M. Clausi, Green Swan’s CEO. “Cobalt is needed to create lithium ion batteries for handheld devices, power tools, laptops, and electric vehicles. It is estimated that each Model 3 to be sold by Tesla Motors will consume 15 kg to 22 kg of cobalt per car. Tesla intends to sell 500,000 Model 3’s by 2018. The world’s largest producer of cobalt, the Congo, has seen production fall 9% in 2016, leading to a significant supply gap. We see value there.”

Dryden Cobalt

The Dryden Cobalt property is located roughly one kilometre southwest of Green Swan's main Sudbury cobalt-gold asset, also in the highly productive Sudbury basin. This property was acquired by staking, based on Green Swan's interpretation of the Nipissing Diabase and the Huronian sediments (Hough Lake Group -- Mississsagi formation) which cross this property. Green Swan intends to conduct surface exploration at this location in the summer of 2017.

CHILTON COBALT

Green Swan purchased Chilton Cobalt, Quebec in February, 2017 based on its four historic distinct cobalt / copper / nickel showings. Green Swan is currently compiling all historic data with an intention to explore in the summer of 2017.

Otto Lake

Green Swan owns 100% of the Otto Lake property, consisting of 33 mining units over 4 claim blocks. Otto Lake is roughly eight kilometres southwest of Kirkland Lake, close to the former producing Swastika Mine, Ontario's first producing gold mine (1907). Infrastructure is readily available and the property can be directly accessed off the TransCanada Highway through Swastika.

Historic work has included prospecting, line cutting, limited diamond drilling, VLF and magnetic surveys, mapping, trenching and soil sampling. Some of the third party results are available , but Green Swan cannot speak to the accuracy or thoroughness of historic work without further research and analysis.

The claims are on “Special Status” with Ontario’s Ministry of Northern Development and Mines pending the resolution of an exploration permit application, submitted by a prior owner. Green Swan is confident that its team will be able to move the claims to exploration.

The latest work on Otto Lake is the 2012 soil chemistry report found here, which shows interesting anomalies which are in Green Swan’s opinion highly prospective for gold, palladium, copper, zinc, nickel and lead.

RYLIEJACK

The Ryliejack tenure is one mining claim covering 108 hectares. Ryliejack is entirely contained within the Brucejack Property (Pretium Resources Inc.), close to a regional access road. Ryliejack’s northwestly corner is 6 km from the Brucejack “Valley of the Kings” zone.

As of July, 2016, Measured and Indicated Mineral Resources in the Valley of the Kings totalled 9.1 million ounces of gold (16.4 million tonnes grading 17.2 grams per tonne gold). Ryliejack sits in an enviable location.

MIKAYLA

Mikayla is a higly prospective property in southeastern BC covering 1144 hectares. It is located in the Okanagan Valley in southeast British Columbia, roughly 15 km south of Xstrata Canada’s Brenda Mine, and close to the Crowrea and Empress properties (Nevada Clean Magnesium Inc. / Goldrea Resources Corp. joint venture). Phase 1 of exploration of Mikayla included an airborne magnetic survey over approximately 209 kilometres, flown at 100 metre line spacing.

The results from that survey are here.

Geneva Lake

Geneva Lake, north of Sudbury, Ontario, consists of four road-accessible claims in the Benny Greenstone Belt in Hess Township. The former Geneva Lake Mine (Pb-Zn-Ag) is located on these claims, which mine produced 80,588 tons of ore with a grade of 3.34% lead and 9.21% zinc from 1941 to 1944 (see OGS report 206, Geology of the Benny Area). Historic data from that period (which data is not NI 43-101 compliant and cannot be relied upon) suggests that high grade base metal mineralization (approximately 44% combined Pb + Zn) may be found there.

A later report on the Geneva Lake Polymetallic Deposit by Constable (1989) describes Geneva Lake’s mineralization as a stratabound massive sulfide deposit that, “… strikes southeasterly, dips south at 45º to 50º and rakes to the southeast at 45º. The sulfide zone is conformable to the stratigraphy and on surface has been traced along a 700 foot strike length. Sulfide widths vary from 2 to 20 feet with an average width of 5 feet”. Sulphide mineralization, having an average combined grade of 13%, was reported to be generally massive with distinct banding parallel to bedding planes in the host strata.

Green Swan has completed Phase 1 of its exploration here, the two main goals of which were to make an initial assessment of the claims, and in particular, of volcanogenic massive sulphide-style, base metal mineralization remaining underground in proximity to the historic underground workings, and to help locate such workings relative to surface. Phase 1 achieved these goals.

LOCATIONS

Copper Prince

Copper Prince is a block of 16 contiguous patented mining claims (260 hectares) in the Sudbury Basin, an area renowned for its world-class polymetallic sulphide ore deposits, owned 100% by Green Swan. Since the initial acquisition in June, 2016, Green Swan has staked other contiguous and non-contiguous claims in the area, including into Dryden Township. They all lie within the Huronian Gold Belt, a prolific zone of past gold producers that extends a distance of roughly 120 kilometers. Mining infrastructure, labour and knowledge are easily accessible in this mining-friendly jurisdiction.

Permitting is much simpler on patented lands.

Green Swan carried out a successful drill program in November, 2016, proving continuity of gold and cobalt mineralization at the south end of the property near “Ed’s Watering Hole”, and showing elevated cobalt values above the Sudbury average. The team is eager to return to the field for further work. See the January 11, 2017 press release for details.

“Our team actively searched for a Canadian cobalt property for almost a year, as we wanted to benefit from the looming global cobalt shortage and be in a stable mining jurisdiction,” said Peter M. Clausi, Green Swan’s CEO.

“Cobalt is needed to create lithium ion batteries for handheld devices, power tools, laptops, and electric vehicles. It is estimated that each Model 3 to be sold by Tesla Motors will consume 15 kg to 22 kg of cobalt per car. Tesla intends to sell 500,000 Model 3’s by 2018. The world’s largest producer of cobalt, the Congo, has seen production fall 9% in 2016, leading to a significant supply gap. We see value in Sudbury.”

Prior to Green Swan acquiring it, exploration work on Copper Prince had been carried out by various parties since the late 1880’s. Some historic data cannot be found. Green Swan has found two prior NI 43-101 reports on this property prepared for third parties and filed at SEDAR, which reports summarize the historic work carried out and some of the recent results obtained. Markings and saw cuts from prior work by third parties can be found on some outcroppings, largely in the middle of the property. These results have not been verified by Green Swan’s Qualified Person.

This work report was prepared for and on behalf of third parties, and not under the supervision of Green Swan or its Qualified Persons. It was prepared prior to Green Swan owning the underlying asset. The data may not be relevant to the reader's use and may be out of date. Additional work may be needed to verify the results or opinions set out in this report.

A notable cobaltite-in-quartz zone is described in the September, 2008 technical report as being found in the southeast claims comprising a 30-40cm wide quartz vein on the contact of the Nipissing Diabase with coarse grained cobaltite. Green Swan removed overburden from this area in the summer of 2016, and revealed broader quartz veining on that contact. It was in this area that Green Swan drilled in November, 2016.

One historic sample from Copper Prince, number A195883, assay by Bell White Laboratories in Haileybury, ON (October 1991), returned 3.26% Cobalt, with 14 g/t Gold. A second sample, number A195885 assayed 2.62% Cobalt (Co) and 0.88% Nickel (Ni). Both samples had traces of copper, silver and PGE.

There are three samples shown in the pictures to the left, each taken from the surface of the target property in May, 2016 by Green Swan’s field team as part of its technical due diligence.

The first picture shows two slices from the same grab sample taken from a historic blasted pit.

In situ the rock appears like a skarn with carbonate (white) and tremolite- actinolite thin blades (light greenish in colour).

The samples on the left in Picture 1 shows one large (> 4cm) cobaltite crystal, compared to typical mm to micron -sized cobaltite grains in the Sudbury Ni-Cu-PGE ores. This sample was cut with a rock saw and for presentation purposes one side was sprayed with a clear-coat lacquer to darken it.

The samples on the left in Picture 1 is another slice from that same rock, showing large cm-sized cobaltite crystals. This slice is back from analysis and the results are out. Read about the results here.

Picture 2 shows smaller cobaltite crystals along the rusty rim and the distinctive pinkish erythrite coating, a secondary alteration cobalt containing mineral. Green Swan management also has this sample at head office.

“Our team actively searched for a Canadian cobalt property for almost a year, as we see the looming global cobalt shortage,” said Peter M. Clausi, Green Swan’s CEO. “Cobalt is needed to create lithium ion batteries for handheld devices, power tools, laptops, and electric vehicles. It is estimated that each Model 3 to be sold by Tesla Motors will consume 15 kg to 22 kg of cobalt per car. Tesla intends to sell 500,000 Model 3’s by 2018. The world’s largest producer of cobalt, the Congo, has seen production fall 9% in 2016, leading to a significant supply gap. We see value there.”

Dryden Cobalt

The Dryden Cobalt property is located roughly one kilometre southwest of Green Swan's main Sudbury cobalt-gold asset, also in the highly productive Sudbury basin. This property was acquired by staking, based on Green Swan's interpretation of the Nipissing Diabase and the Huronian sediments (Hough Lake Group -- Mississauga formation) which cross this property. Green Swan intends to conduct surface exploration at this location in the summer of 2017.

CHILTON COBALT

Green Swan purchased Chilton Cobalt, Quebec in February, 2017 based on its four historic distinct cobalt / copper / nickel showings. Green Swan is currently compiling all historic data with an intention to explore in the summer of 2017.

Otto Lake

Green Swan owns 100% of the Otto Lake property, consisting of 33 mining units over 4 claim blocks. Otto Lake is roughly eight kilometres southwest of Kirkland Lake, close to the former producing Swastika Mine, Ontario's first producing gold mine (1907). Infrastructure is readily available and the property can be directly accessed off the TransCanada Highway through Swastika.

Historic work has included prospecting, line cutting, limited diamond drilling, VLF and magnetic surveys, mapping, trenching and soil sampling. Some of the third party results are available , but Green Swan cannot speak to the accuracy or thoroughness of historic work without further research and analysis.

The claims are on “Special Status” with Ontario’s Ministry of Northern Development and Mines pending the resolution of an exploration permit application, submitted by a prior owner. Green Swan is confident that its team will be able to move the claims to exploration.

The latest work on Otto Lake is the 2012 soil chemistry report found here, which shows interesting anomalies which are in Green Swan’s opinion highly prospective for gold, palladium, copper, zinc, nickel and lead.

RYLIEJACK

The Ryliejack tenure is one mining claim covering 108 hectares. Ryliejack is entirely contained within the Brucejack Property (Pretium Resources Inc.), close to a regional access road. Ryliejack’s northwestly corner is 6 km from the Brucejack “Valley of the Kings” zone.

As of July, 2016, Measured and Indicated Mineral Resources in the Valley of the Kings totalled 9.1 million ounces of gold (16.4 million tonnes grading 17.2 grams per tonne gold). Ryliejack sits in an enviable location.

MIKAYLA

Mikayla is a higly prospective property in southeastern BC covering 1144 hectares. It is located in the Okanagan Valley in southeast British Columbia, roughly 15 km south of Xstrata Canada’s Brenda Mine, and close to the Crowrea and Empress properties (Nevada Clean Magnesium Inc. / Goldrea Resources Corp. joint venture). Phase 1 of exploration of Mikayla included an airborne magnetic survey over approximately 209 kilometres, flown at 100 metre line spacing.

The results from that survey are here.

GENEVA LAKE

Geneva Lake, north of Sudbury, Ontario, consists of four road-accessible claims in the Benny Greenstone Belt in Hess Township. The former Geneva Lake Mine (Pb-Zn-Ag) is located on these claims, which mine produced 80,588 tons of ore with a grade of 3.34% lead and 9.21% zinc from 1941 to 1944 (see OGS report 206, Geology of the Benny Area). Historic data from that period (which data is not NI 43-101 compliant and cannot be relied upon) suggests that high grade base metal mineralization (approximately 44% combined Pb + Zn) may be found there.

A later report on the Geneva Lake Polymetallic Deposit by Constable (1989) describes Geneva Lake’s mineralization as a stratabound massive sulfide deposit that, “… strikes southeasterly, dips south at 45º to 50º and rakes to the southeast at 45º. The sulfide zone is conformable to the stratigraphy and on surface has been traced along a 700 foot strike length. Sulfide widths vary from 2 to 20 feet with an average width of 5 feet”. Sulphide mineralization, having an average combined grade of 13%, was reported to be generally massive with distinct banding parallel to bedding planes in the host strata.

Green Swan has completed Phase 1 of its exploration here, the two main goals of which were to make an initial assessment of the claims, and in particular, of volcanogenic massive sulphide-style, base metal mineralization remaining underground in proximity to the historic underground workings, and to help locate such workings relative to surface. Phase 1 achieved these goals.