The Company received its Environmental Clearance Certificate (“ECC”) for EPL 7071 in January 2020 (see news release 7 January 2020) and has recently completed the re-logging of historical RC drill hole sample chips, and the re-sampling of historical diamond drill core, both stored in the government’s warehouse. In addition to the RC drilling program (3 000 m planned), a reconnaissance geological mapping and sampling program is planned over the Property. The primary objective of the 2021 exploration program is to update the historical mineral resources in the Okohongo deposit and complete a mineral resource estimate and technical report compliant with National Instrument 43-101 (“NI 43-101”).

The Taranis Property, covering about 19 850 ha, includes the historical Okohongo Cu-Ag Deposit which has been outlined by historical drilling (see INV Metals news release dated August 3, 2011), showing it extends over 600 metres in strike length, 400 metres down-dip, and is interpreted to be open in all directions. The Okohongo, situated within the Kaoko Belt of northwest Namibia about 700 km northwest of Windhoek, is hosted by metasedimentary stratigraphy and is considered to be analogous with the stratiform sediment-hosted Central African Copperbelt deposits of Zambia and the Democratic Republic of the Congo. This deposit contains historical Inferred Mineral Resources of 10.2 million tonnes grading 1.12% Cu and 17.75 g/t Ag, using a 0.3% Cu cut-off (Table 1; INV Metals Inc. NI 43-101 Technical Report, Effective Date March 31, 2011).