Briefing
Table 1-4 LOM Operating Cost Summary US$/Tonne Mined US$/Tonne Processed Mining (OPEX) $3.57 $5.88 Mining (Equipment Finance) $0.53 $0.87 Processing & Support $5.60 $9.24 G&A $0.40 $0.66 Total $10.10 $16.64 Note: Variables may not sum due to rounding. Key points: Table 1-4 LOM Operating Cost Summary US$/Tonne Mined US$/Tonne Processed Mining (OPEX) $3.57 $5.88 Mining (Equipment Finance) $0.53 $0.87 Processing & Support $5.60 $9.24 G&A $0.40 $0.66 Total $10.10 $16.64 Note: Variabl; Over the life of mine (LOM), the project is expected to produce 1.9 million ounces of gold and 1.6 million ounces of silver from 168 million tonnes of material at an average grade of 0.73 g/t Au and 0.86 g/t Ag; Approximately 32.9 million tonnes of oxide heap leach material and 69.0 million tonnes of sulphide mill material will be extracted from two open pits, Crone Hill and Quartz Butte, over an approximate mine life of 14 year; Mining Methods Conventional open pit mining methods will be used to extract 32.9 million tonnes of oxide heap leach material, 69.0 million tonnes of sulphide mill material, and 66.0 million tonnes of waste material, from; Gold Price, Capital Cost & Operating Cost (Source KCA 2026) $3,000,000 Gold Price Var $2,500,000 Operating Costs Arter-Tax NPV @ 5% ($,000) $2,000,000 Capital Costs $1,500,000 $1,000,000 $500,000 $0 75% 80% 85% 90% 95% 1; The average annual production profile over the LOM is estimated at 135,400 ounces of gold and 117,500 ounces of silver, generating a net present value (NPV) of US$1.7 billion at a 5% discount rate, with payback of initia. This brief is based on the cited source artifact and is intended as a research entry point, not a replacement for the original source or EGM canonical data tables.
Source Notes
Table 1-4 LOM Operating Cost Summary US$/Tonne Mined US$/Tonne Processed Mining (OPEX) $3.57 $5.88 Mining (Equipment Finance) $0.53 $0.87 Processing & Support...
Extractive summary evidence · source
Over the life of mine (LOM), the project is expected to produce 1.9 million ounces of gold and 1.6 million ounces of...
Extractive summary evidence 2 · source
Approximately 32.9 million tonnes of oxide heap leach material and 69.0 million tonnes of sulphide mill material will be extracted from two...
Extractive summary evidence 3 · source
Mining Methods Conventional open pit mining methods will be used to extract 32.9 million tonnes of oxide heap leach material, 69.0 million...
Extractive summary evidence 4 · source
Extracted Document Text
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# Quartz Mountain Gold Preliminary Economic Assessment NI 43-101 Technical Report Source: https://qgoldresources.com/Quartz_Mountain_Report_PEA_05_2026.pdf Published: 2026-05-25T00:00:00+00:00 Fetched: 2026-08-02T23:10:03.092+00:00 Source artifact: f827f57f-f04e-4091-88fb-f673baf39880 Normalizer input: text ## Content # Quartz Mountain Gold Preliminary Economic Assessment NI 43-101 Technical Report Source: https://qgoldresources.com/Quartz_Mountain_Report_PEA_05_2026.pdf Published: 2026-05-25 NI 43-101 Technical Report Preliminary Economic Assessment Quartz Mountain Gold Project Lake County, Oregon, USA Prepared for: Prepared by: Report Effective Date: 03 April 2026 Report Signed Date: May 22, 2026 Mineral Resource Effective Date: 28 February 2026 Authors: Brian Arthur, Kappes Cassiday & Associates, RM, SME Joanne Robinson, AGP Consultants Inc., P.Eng. Fred H. Brown, FHB Consulting Services, PGeo Jeremy Scott Collyard, SLR International Corporation, PMP, MMSA QP IMPORTANT NOTICE This report was prepared as National Instrument 43-101 Technical Report for Q-Gold Resources (QGold) by Kappes, Cassiday & Associates, AGP Mining Consultants Inc., SLR International Corporation, and Fred Brown Consulting Services LLC. (collectively the Report Authors). The quality of information, conclusions, and estimates contained herein is consistent with the level of effort involved in the Report Author’s services, based on i) information available at the time of preparation, ii) data supplied by outside sources, and iii) the assumptions, conditions, and qualifications set forth in this report. This report is intended for use by QGold, subject to terms and conditions of its contracts with each of the Report Authors. Except for the purposes legislated under Canadian provincial and territorial securities law, any other uses of this report by any third party is at that party’s sole risk. Quartz Mountain Gold Preliminary Economic Assessment NI 43-101 Technical Report CONTENTS Introduction and Overview ........................................................................................ 1-1 Property Description and Ownership ......................................................................... 1-1 Geology and Mineralization....................................................................................... 1-2 Exploration and Drilling ............................................................................................. 1-2 Mineral Processing and Metallurgical Test Work ....................................................... 1-3 Mineral Resource Estimate ....................................................................................... 1-3 Mineral Reserve Estimate ......................................................................................... 1-5 Mining Methods ........................................................................................................ 1-5 Recovery Methods .................................................................................................... 1-6 Infrastructure............................................................................................................. 1-6 Environmental Studies, Permitting and Social or Community Impact ........................ 1-7 Capital and Operating Costs ..................................................................................... 1-8 Economic Analysis .................................................................................................... 1-9 1.13.1 Forward Looking Information ........................................................................... 1-12 1.13.2 Non-IFRS Measures ........................................................................................ 1-13 Interpretations and Recommendations.................................................................... 1-13 1.14.1 Recommendations ........................................................................................... 1-14 1.14.2 Risks and Opportunities ................................................................................... 1-16 Introduction and Overview ........................................................................................ 2-1 Project Scope and Terms of Reference .................................................................... 2-1 2.2.1 Scope of Work ................................................................................................... 2-1 2.2.2 Terms of Reference ........................................................................................... 2-2 Sources of Information .............................................................................................. 2-2 Qualified Persons and Site Visits .............................................................................. 2-3 Frequently Used Acronyms, Abbreviations, Definitions and Units of Measure........... 2-3 Property Location ...................................................................................................... 4-1 Property Description and Mineral Concession Status................................................ 4-2 Royalties ................................................................................................................... 4-3 4.3.1 1989 Royalty ...................................................................................................... 4-4 4.3.2 Wavecrest Royalty ............................................................................................. 4-4 4.3.3 Sheriff Royalty ................................................................................................... 4-5 4.3.4 Seabridge Royalty ............................................................................................. 4-6 Kappes, Cassiday & Associates Contents May, 2026 Page 1 Quartz Mountain Gold Preliminary Economic Assessment NI 43-101 Technical Report 4.3.5 Predator Royalty ................................................................................................ 4-6 Other Liabilities ......................................................................................................... 4-6 Current Ownership History ........................................................................................ 4-7 Accessibility .............................................................................................................. 5-1 Local Resources and Infrastructure .......................................................................... 5-1 Physiography ............................................................................................................ 5-1 Climate ..................................................................................................................... 5-2 Ownership History of the Quartz Mountain Gold Property ......................................... 6-1 Quartz Mountain Exploration and Drilling History ...................................................... 6-4 Historical Resource Estimate .................................................................................... 6-7 Production History..................................................................................................... 6-7 Historical Metallurgy.................................................................................................. 6-7 Resource Model History ............................................................................................ 6-8 Regional and Local Geology ..................................................................................... 7-1 Property Geology ...................................................................................................... 7-1 Mineralization............................................................................................................ 7-3 Deposit Types ........................................................................................................... 8-1 Exploration ................................................................................................................ 9-1 Drill Program ........................................................................................................... 10-1 Summary ................................................................................................................ 11-1 Anaconda 1983 – 1985 ........................................................................................... 11-1 Wavecrest Resources 1986 - 1988 ......................................................................... 11-1 Quartz Mountain Gold Company 1986 – 1987 ........................................................ 11-1 Quincy Energy Corporation 2004 – 2005 ................................................................ 11-2 Golden Predator 2008............................................................................................. 11-2 Alamos Gold Incorporated 2014 - 2015................................................................... 11-2 Kappes, Cassiday & Associates Contents May, 2026 Page 2 Quartz Mountain Gold Preliminary Economic Assessment NI 43-101 Technical Report Background............................................................................................................. 12-1 Assay Verification ................................................................................................... 12-1 Drill Hole Data Validation ........................................................................................ 12-2 Site Visit and Independent Sampling ...................................................................... 12-2 Metallurgy QA/QC ................................................................................................... 12-3 Mineral Processing and Testing Summary .............................................................. 13-1 Anaconda (1985) – Anaconda Minerals Company - Metallurgical Tests on Drill Hole Samples ............................................................................................................................ 13-4 13.2.1 Anaconda (1985) – Agitated Cyanidation Amenability...................................... 13-5 13.2.2 Anaconda (1985) - Gravity Separation ............................................................. 13-5 13.2.3 Anaconda (1985) - Flotation Test Results ........................................................ 13-6 Exploration Ventures, Co. (1985) – Heinen-Lidstrom Consultants – Direct Cyanidation of Drill Cuttings Sample QM 19-45-95 ............................................................................... 13-7 13.3.1 EVC (1985) - Bottle Roll Cyanidation Test Results .......................................... 13-7 Anaconda (1985) – Kappes, Cassiday & Assoc. – Quartz Mountain Drillhole Cuttings Cyanide Bottle Roll Tests .................................................................................................. 13-8 13.4.1 Exploration Ventures (1985) - Bottle Roll Cyanidation Test Results ................. 13-8 Quartz Mountain Gold Corp. (1986) – Heinen-Lidstrom Consultants – Preliminary Cyanidation Tests on Quartz Hill Samples ........................................................................ 13-9 13.5.1 QMGC (1986) - Bottle Roll Cyanidation ........................................................... 13-9 Quartz Mountain Gold Corp. (1987) – Bateman Metallurgical Lab – Bottle Roll Cyanidation ..................................................................................................................... 13-11 13.6.1 QMGC (1987) - Bottle Roll Cyanidation at P80 of ¼-Inch ................................ 13-11 Wavecrest Resources Inc. (1987) – Bateman Metallurgical Lab – Preliminary Cyanidation Test Quartz Mountain #182784 Sample ...................................................... 13-12 13.7.1 WRI (1987) - Bottle Roll Cyanidation at P80 of 200 mesh ............................... 13-12 Wavecrest Resources Inc. (1987) – Bateman Metallurgical Lab – Preliminary Agitated Cyanidat [Excerpt trimmed for readability. Open the original source for the complete filing or document.]