Vanguard Overview

Strategically Located

The Vanguard are is strategically located approximately 360km north of the US boarder. One of the largest potash markets in the world.

• Over 80,000 acres (~324 square kilometers) of Crown Mineral rights available for potash mining
• With the above acreage under the Company’s control, together with the detailed knowledge and understanding of the resource region, Gensource sees the potential for up to twelve (12) production facilities.
• Comprises two subsurface mineral leases, KL 244 and KL 245 and a potash permit area (SMP200), surrounding the villages of Tugaske (RM of Huron No.223) and Eyebrow (RM of Eyebrow No.193)
• Gensource exploration activity includes six (6) cored exploration wells, as of December 2019, and a 3D seismic program covering over 34 km² within KL 245
• No complex geology or chemistry
• Close proximity to essential utilities and services (rail, road, gas, power, aggregate, etc.)
• Key infrastructure required for construction and operations is in place and very accessible
• Mostly agricultural land with few environmentally sensitive areas
• Strong local community and provincial support
• Multi-generational mine life opportunities with massive Proven and Probable Reserve and Measured and Indicated Resource

Gensource is excited to execute the 2023 Vanguard North 3D Seismic Program. The program design began in September 2023, with permitting in October and field activities beginning and completing in November.

Goal:

1. Begin exploration of Sub-surface Mineral Permit SMP200

• SMP200 is contiguous with and to the North of KL245
• SMP200 is also contiguous with the mining area defined for the Tugaske Project

2. Add to the existing resource currently defined in KL245 for the Tugaske Project.

• The 2017 Vanguard 3D Seismic program (outlined in the figures below) and Gensource drilling (wells identified in the figure below) define the existing resource in KL245
• Adding the 2023 Vanguard North 3D Seismic program will increase the contiguous coverage of the resource and bring that additional area into the defined Resource. Resource believes there will be additions to the Measured and Indicated Resource and potentially expand existing Reserve, but we won’t know for sure until a new NI 43-101 Technical Report is completed.

Design:

The 2023 Vanguard North 3D Seismic program is specifically designed to be accretive to the existing knowledge of the regional resource. It:

• Covers an area of a little less than 5 mi2 in the Southern part of SMP200
• Coordinates with and adds to the 2017 Vanguard 3D Seismic coverage.

Partners:

Gensource takes partnership seriously and works collaboratively with experts in the field who are key to ultimate success. With us on the 2023 Vanguard North 3D Seismic program are:

• Terra Modelling Services – Geological consulting and program design.
• Respec Saskatoon – program management and coordination.
• RPS Energy – 3D Seismic detailed design, data analysis and interpretation.
• Surveying by Raymac Surveys Ltd.
• Field Medics by Black Gold Medical Ltd.
• Recording by Echo Seismic Ltd.

Program Status:

• Permitting –  Completed October 2023
• Surveying –  Completed November 2023
• Recording – Completed November 2023
• Data Processing – Completed November 2023
• Initial Report – Completed December 2023
• Schedule/Budget – On schedule and under budget!