An exceptional gold development opportunity

No. There is currently no NI 43-101 compliant mineral resource estimate on the San Juan Gold Project. The historical estimate of 239,091 oz gold (Rogers, 2013) has not been verified under current standards and does not comply with NI 43-101. Shasta Gold does not rely on this estimate as a current resource. The recommended first step is digitizing all drill data and producing a computer block model at an estimated cost of $40,000–$60,000, which would enable preparation of a compliant current estimate.

The data quality is considered good. The strongest validation is operational: when Siskon Gold mined the deposit in 1995–97, actual gold recovery was 110% of drill-predicted grades. Additionally, Pincock Allen & Holt conducted thorough statistical validation of the data for their 1991 feasibility study. The Qualified Person considers the historical drill data adequate for the purposes of the 2026 NI 43-101 report, though original drill logs and assay certificates are no longer available.

The 2026 NI 43-101 report identifies three expansion vectors — lower cutoff grade, stope height, and strike-length extension — with a combined exploration target of 2,060,000 – 6,740,000 bank cubic yards at 0.051 – 0.086 oz/bcy, representing 105,000 – 577,000 additional ounces. Combined with the historical resource of 239,091 oz, this suggests a total deposit potential of approximately 344,000 – 816,000 oz gold. These are conceptual exploration targets, not mineral resources. Sufficient exploration has not been conducted to define a mineral resource, and it is uncertain if further exploration would result in these targets being delineated as a mineral resource.

A full operating underground gold mine would require federal permits from the BLM, EPA, and Army Corps of Engineers; state permits from multiple California agencies including the Mining Authority, Water Quality Authority, and Air Pollution Control Authority; and local permits from Nevada County. The Qualified Person notes that permitting a mining operation in California has become increasingly difficult and should be considered a key risk. The project does have a positive permitting track record — all required permits were successfully obtained for the 1987–1997 operations.

The first recommended step is drill data digitization and computer block modeling, estimated at USD $40,000 – $60,000. This would produce a current NI 43-101 compliant resource estimate and allow full evaluation of grade, tonnage, and cutoff grade sensitivity. This is an unusually low cost for a project with this level of prior work. A full feasibility study update and permitting program would require additional capital. Please contact us to discuss investment structure and terms.

Yes. Site visits can be arranged for qualified parties following execution of a mutual NDA. The site is accessible year-round via a well-maintained road network from Nevada City. The former mine headquarters building, surface infrastructure, and stockpiles of mineralized blue gravel are all accessible on-site. Please indicate your interest in a site visit in your enquiry form.