The report pertains to the project at Vasterbottens Lan, northern Sweden.
The basis for the 10 million to 15 million tonnage and the 2.5 grams per tonne (g/t) to 3.0 g/t gold grade range for the target includes the following comments from the report.
"Three mineralized zones have been identified on the property and are the subject of the mineral resource estimate in the NI 43-101 technical report. Collectively, these three zones are open vertically and have a sufficient footprint to potentially host additional mineralization.
"It is assumed that these mineralized zones will have similar width and continuity in their vertical extensions. This is supported by the fact that the bulk of the current mineral resource estimate is found within the first 600 metres and some drill holes encountered mineralization down to 850 metres. Drilling the gaps between some of the zones is also considered in this assumption.
"The grade range is considered reasonable based on the current mineral resource estimate."