Overview:

The Munro Lake gold property (“Munro Lake”) is located 7km from the Seabee gold mine in North eastern Saskatchewan. The Company holds a 100% interest in the Munro Lake. The Company’s initial 51% interest in the property was acquired from Star Diamond Corporation (formerly Shore Gold Inc.) in 2004 at the company's formation in exchange for shares of the Company. Wescan’s ownership interest increased to 100% based on non-participation of the former joint venture partner in past exploration programs. Munro Lake is an early stage gold exploration property which encompasses the northeast projection of the Laonil Lake Shear Zone which is the main ore control structure for the Seabee Mine gold mineralization.  

The project area covers 2,480 ha situated about 130 kilometers northeast of La Ronge, Saskatchewan and approximately 7 kilometers northeast of the Seabee Mine/Mill complex. The property lies within the Glennie Lake area of the Churchill Structural Province. All rocks in the area are of Precambrian age and comprise mixed metavolcanics and metasedimentary belts within dominantly granitic gneisses and younger granitic bodies. Emplaced within this complex are younger basic and ultramafic bodies and more massive and homogeneous tonalites, granodiorites and granites.

The area is accessible from La Ronge and Otter Lake by float or ski equipped aircraft. It is also possible that SSR Mining would permit access from their Seabee mine site, which has an all weather airstrip. The property can be accessed from Seabee Mine via winter drill roads. The Seabee Mine is connected to a 115 KV hydro electric power line from Island Falls.

The Munro Lake property is one that has seen limited work to date, but Wescan believes it has great potential given that is situated on trend with the SSR Mining’s Santoy 2,3 and CRJ100 zones which are adjacent to the Munro Lake property.

Geology, Background and Historical Exploration:

The Munro Lake property exhibits less than 15% outcrop. Several known copper-gold occurrences are reported in the area. The property has been explored since the mid 1950s, when minor copper and pyrite mineralization was noted on the west side of the Lake. Limited trenching and drilling was conducted at the time, but with only low grade mineralization reported, the claims were allowed to lapse in 1960.

In 1984, the property was registered to Claude Resources Inc. (“Claude Resources”), though ownership was recorded as 30% Claude and 70% by Rapparee Resources. By 1986, Claude Resources (the former owner and operator of the Seabee Mine) was the 100% owner and had acquired additional claims.

From 1985 to 1988, Claude Resources carried out regional prospecting to trace the pyrite--chalcopyrite mineralization. Geophysical surveys were conducted which outlined the geological contacts. The early holes had been drilled in the south end of a magnetic high at the southern end of the property. The mineralization and quartz veining intersected occurred within metavolcanics and granodiorite.

By 1990, the claims had been amalgamated into a single mineral disposition which was registered to Shore Gold Inc (“Shore”) 51% and Shane Resources Ltd - 49% Subsequently, Shore conducted prospecting work in the vicinity of the early trenching on the west shore of Munro Lake and geochemical soil surveying, prospecting, trenching and sampling of other mineralized showings and has identified several areas that contain anomalous gold values. The highest gold values coincide with the trenched mineralization, though a discrete area of elevated gold values up to 70 ppb occurs in the north of the survey area; this trend cross-cuts the geological strike at shallow angle and appears to extend for a further 3-400 meters. The zone is open to the northwest. A second anomalous area some 50 meters wide, 200 meters west of this zone, trends north-north-easterly and is open to the north and south. Prospecting of the area located the trenches excavated between 1956 and 1958. Mineralization exposed in these trenches included pyrite, chalcopyrite, bornite and malachite staining within sheared mafic volcanics flanked by foliated granodiorite. A grab sample from one of the excavations returned a value of 0.414 oz Au/ton. The prospecting program also discovered three additional showings that host anomalous gold, copper and nickel values.

The following discoveries were also made (as per rock descriptions and hand-drawn plots in the reports):

• A sheared mafic volcanic, approximately 4 meters in width containing up to 3% pyrite and minor chalcopyrite was discovered approximately 55metres west of the earlier trenches.
• A rusty, sheared pyroxenite was located on the west side of the surveyed area, 300 meters northwest of the early trenches. Mineralization included pyrrhotite, pyrite, traces of disseminated chalcopyrite and traces of disseminated pentlandite. A rusty quartz vein, containing disseminated pyrite, was identified 150 meters farther north along strike at the contact between moderately sheared intermediate volcanics and amphibole-feldspar- biotite- quartz gneiss.

All of the mineralized areas were stripped, trenched, mapped and sampled by Shore's contracted exploration field team. The trenching located several zones with elevated gold values. Visits to the trenched area and confirmed the presence of sulphide mineralization, including chalcopyrite and secondary copper minerals in both gneiss and sheared volcanics.

Available satellite imagery indicates that the known gold mineralization lies on the continuation of the shear which hosts the Seabee gold mine.

A review of the Munro Lake property by an outside consultant resulted in a recommendation for phased exploration of the property:

• Compiling of all available data into a geographical information system (GIS) package.
• Completing a satellite interpretation of the area to be used as the base map for the GIS compilation. This enables structural controls to be interpreted and determine whether any major shearing is present on the property.
• Carrying out a reconnaissance geological and prospecting survey to permit ground truthing of the GIS data and preliminary investigation of targets identified during the interpretation.
• Conduct a field exploration program consisting primarily of geochemical sampling and geological mapping on areas of known and potential interest. An airborne geophysical survey maybe be conducted to provide further assistance with proposing our exploration program. The Munro Lake property is situated on trend with the Claude Resources Santoy Zone which makes for even greater potential with future exploration on this property.

An airborne (EM) geophysical survey was conducted in 2011 to assist with the interpretation of historic soil sampling anomalous gold targets throughout the property (see Wescan news release dated June 22, 2011). Wescan also completed a prospecting program following detailed analysis of the results of the geophysical survey combined with all historic exploration data. Results of the program were combined with historical data to aid with the 2013 winter drill program.

In the winter of 2013, four NQ diamond drill holes totaling 1052 m were drilled and two holes intercepted high grade gold mineralization (5.6 g/t over 1m in EXML-01 & 67.1 g/t over 1.02m in EXML-02) and the remaining two anomalous gold intervals (see Wescan news release dated June 17, 2013).

In 2018, the Company performed a field exploration program at Munro Lake. Work performed included reconnaissance prospecting and mapping and geochemical survey.

Maps