The Company is committed to a significant exploration program that will seek to identify additional Mineral Reserves and Mineral Resources, which can be processed using the existing mill capacity and to extend the mine life. In particular, the Company is committed to doing the work necessary to convert a greater portion of the current Measured and Indicated Mineral Resources and Inferred Mineral Resources into Mineral Reserves with additional drilling.
The Plutonic Gold operations exploration program is targeting areas from both underground and from the surface.
An annual exploration budget of approximately US$6.5 million is planned for 2020. This amount could increase with positive exploration results.