The DeSantis Gold Project is located approximately 4.5 km southwest of Timmins, Ontario, within the world-class Timmins-Porcupine Gold Camp. The property encompasses approximately 850 hectares and covers nearly 5 km of strike length along the northern side of the Destor-Porcupine Deformation Zone (DPDZ)—one of Canada's most significant gold-bearing structural corridors. The project is contiguous with Galleon Gold's West Cache Gold Project and is surrounded by several producing and past-producing gold mines.
The property is underlain by Archean volcanic and sedimentary rocks of the Abitibi Greenstone Belt, including mafic volcanic flows, intermediate pillowed volcanic rocks, quartz-feldspar porphyry dikes, and sedimentary rocks of the Porcupine Group comprising greywacke and slate.
Gold mineralization is associated with broad hydrothermal alteration zones reaching widths of up to 46 metres, characterized by silicification, pyritization, tourmalinization, chlorite, sericite, carbonate, albite, and iron-oxide alteration. Mesothermal gold and silver mineralization occurs within quartz veins containing pyrite, galena, sphalerite, chalcopyrite, and scheelite.
Notable historical drill intersections include:
In April 2026 the Company completed a preliminary review of a historical database comprising 488 drill holes totaling 101,945.4 m and 21,158 gold assays, together with wireframes of the historical underground workings and of the Hydrothermal and Albitite Zones. Six priority targets were identified in and around the historical DeSantis Mine workings, plus an additional target on the McEnaney claims to the east. Priority targets include the shallow up-dip extension of the Albitite Zone from surface to the 800-foot level, the depth extension of the Albitite Zone, a possible parallel zone above the Albitite Zone, and the western extension of the Hydrothermal Zone. Full target descriptions, supporting historical drill intercepts and collar information are set out in the Company's news release dated April 23, 2026.
The DeSantis Mine operated intermittently between 1926 and 1943, producing 35,784 ounces of gold, 3,142 ounces of silver, and 193 pounds of scheelite from 196,928 tons of ore grading an average 0.19 oz/t Au (6.2 g/t Au).
Mining was conducted at approximately 160 tons per day, with reported gold recoveries exceeding 90%, highlighting the robust metallurgy of the deposit.
Following a 44-hole drilling program completed in 1986, Stan West Mining Corp. prepared historical resource estimates for the principal mineralized zones:
| Zone | Historical Estimate |
|---|---|
| Albitite Zone | 65,505 tonnes @ 7.85 g/t Au |
| Hydrothermal Alteration Zone | 117,000 tonnes @ 9.09 g/t Au |
| Combined | 182,505 tonnes @ 8.64 g/t Au |
A separate historical estimate reports 735,500 tonnes, including 600,000 tonnes grading 6.25 g/t Au.
A Qualified Person has not completed sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Accordingly, Loyalist Exploration Limited is not treating the historical estimate as current mineral resources or mineral reserves. The historical estimate is provided solely to illustrate the exploration potential of the property. It remains uncertain whether further exploration and evaluation will confirm or upgrade these estimates to current mineral resources in accordance with NI 43-101.
The historical Mineral Resource Estimate ("MRE") on the DeSantis Property is unclassified and does not comply with CIM Definition Standards on Mineral Resources and Mineral Reserves as required by NI 43-101. The MRE was taken from a report titled "Technical Report on the DeSantis Property, Porcupine Mining Division, Ogden Township, Ontario, Canada," authored by Minorex Consulting Ltd. and dated May 30, 2011. Investors are cautioned not to treat the estimate as current or rely on the estimate in making an investment decision. The MRE is included here to provide shareholders with background on the rationale for acquiring the asset. A qualified person has not done sufficient work to classify this historical MRE as current mineral resources, and the Company is not treating this historical MRE as a current estimate. It is uncertain whether, following evaluation and/or further exploration, the historical MRE will ever be reportable in accordance with NI 43-101. The Company has no current plans to undertake the work needed to bring the MRE up to CIM reporting standards.
Readers are cautioned that Loyalist does not have an interest in the West Cache gold project. Mineralization on adjacent or nearby properties is not indicative of mineralization on the Company's properties, and there is no guarantee that the DeSantis Property will yield comparable results.
Curtis Ferron, P.Geo. (ON), principal geology consultant for Loyalist, who is a "Qualified Person" as defined by NI 43-101, has reviewed and approved the technical content of this page.