Center Star Mine, Idaho

CENTER STAR GOLD MINE NEAR ELK CITY, IDAHO

• The Center Star Mine is believed to host high-grade gold mineralization that was discovered in the early 1900s, with periodic historic production and development work done under different ownership through the 1980s.
• With the presence of high-grade gold mineralization, Magellan will be evaluating the historic mine data to assess the resource potential present at Center Star Mine.
• The property is located 45 miles from Grangeville, Idaho and near the town of Elk City, Idaho.
• Gold mineralization at Center Star Mine is hosted in multiple parallel quartz veins in a banded gneiss.
• The gold at the Center Star Mine occurs in high-grade veins that trend northeasterly and dip steeply to the southeast and are present in a 75’ to 100’ wide sheer zone hosting quartz veins and breccia.
• The gold-bearing veins were reported to vary from a few inches to 20 feet in width and contain gold from 0.35 ounce per ton gold to multi-ounce per ton gold based on historic mine data.
• The Center Star Mine has not had any exploration or development work conducted in the last 35 years.

ELK CITY

• Historically, the mines in the Elk City area of Idaho have produced over one and a half million ounces of gold.
• There are currently several significant exploration projects by active junior mining companies and one operational gold mining project (Endo Mines-Friday Mine) in the Elk City Area.
• Idaho is a mine-friendly jurisdiction and has become one of the most active gold exploration areas in the US.
• Magellan Gold is presently evaluating the opportunities in the Elk City area and other mining districts in the Western US.