RE:From MD&A -just releasedThe Lauriston Gold Project is located in the central part of the State of Victoria, Australia, situated approximately 100 km northwest from the capital of Melbourne. The Lauriston Gold Project is south of and adjoining Kirkland Lake’s Fosterville Gold Project which has reported reserves of 1.79 million ounces (proven 1,050,000 tonnes at 24.4 g/t gold for 822,000 ounces of gold and 2,570,000 tonnes probable reserves at 11.1 g/t for 973,000 ounces of gold), with an additional 1.28 million inferred ounces (6,144,000 tonnes at 6.5 g/t gold). Mineralization at Kirkland Lake’s Fosterville Gold Project is not necessarily indicative of mineralization at the Lauriston Gold Project. Minimum expenditures: In order to retain the license, the Company will be required to incur certain exploration expenditures on Lauriston Gold Project on a going forward basis. Under Victorian mining laws, a person is required to incur AUD$15,000 plus AUD $150 per km2 in Year 1, AUD $200 per km2 for each of Year 2, 3, and 4 and AUD $300 per km2 for each year thereafter. Based on the Lauriston project being 287km2 and the age of the license, the Company will be required to incur exploration expenditures of AUD $58,050 in 2020 and although the expenditure commitment per km2 increases over time this is offset by forced tenement area reductions in the 2nd and 4th years of 25% and 40% respectively, which results in the expenditure commitment remaining much the same annually. Exploration plans: The Company has compiled a two-phase budget of AUD$2,355,177 (Year 1 - AUD$938,435; Year 2 - AUD$1,416,742) aimed at exploring a number of prospects held within the property. The focus of the Company is to search within the property for gold deposits analogous in style and type to the Fosterville gold mine further north of Lauriston. These epizonal deposits are associated with the Tabberabberan orogeny of the Mid-Devonian and have a characteristic metallogenic signature of Au-As-Sb mineralisation. The epizonal deposits of Central Victoria are distinctly different to the Early Devonian Bindian orogenic mesozonal gold mineralisation of the Ballarat and Bendigo goldfields found further west and northwest. The Bendigo goldfield is also on strike to the Lauriston goldfield and the mineralisation present at Lauriston has characteristics in common with both the Bendigo and Fosterville goldfield due to overprinting of the mineralisation styles. At Lauriston, an exploration budget has been designed with a large contingent of this expenditure aimed at drilling as many of the most prospective targets within the tenement as possible.