The deposit is located in the East-Kazakhstan Region of Kazakhstan, near lake Markakol, and at the foot of Kurchum Ridge. The area where deposit is located is mostly mountainous, moderately hilly, with rather low population density. The nearest settlements Maraldy and Kystau-Kurchum are to north in 23 kilometers. The closest railroad station having cargo loading facilities is in town Zyryanovsk which is about 210 kilometers from the license area. The license area is split into 31 exploration blocks and covers around 70 kilometers.

The region is well known for the reach alluvial gold deposits. The area has been developing for alluvial gold since 1888. The whole region is occupied by actively working alluvial gold prospectors. At the bordering area in so called Kurchum-Kaldjir blocks are several relatively large primary deposits with quartz-vein type of mineralization of ore bodies. However, the region is explored for minerals far less than substantially.

The riverside of the area in the gold maps in many instances determined as promising for production of gold area. There are few alluvial deposits with gold content from 4557 мg/м3 up to 68290 мg/м3 (mass concentration). Further up to the river the gold reserves estimation is for around 500 kilograms in total.

The license area includes the old copper production deposit, discovered and developed for exploration purposes in 70’s of 20th century. The selected samples at that area exhibited the following content of various metals in oxidized ores:

Copper – 0,8%, zinc – 0,25%, nickel – 0, 002%; tracks of led, vanadium, molybdenum, silver and bismuth are found too. The exploration works and analysis made in past were not sufficient to report a formal discovery of a copper deposit, but information on average content in ores largely hints that this area may hide copper deposits feasible for commercial development.

Subsoil Rights

The license is granted for exploration of any minerals at the license area. The license is issued in June 2021 and effective until June 2027. This exploration term can be extended once for up to 5 consecutive years. The license holder is a company owned by one Kazakhstan individual. The company has exclusive right to apply and obtain a production license at selected areas subject to discovery of minerals and confirmed evaluation of resources. Term of production license is up to 25 consecutive years.

The license holder is in compliance with all license and exploration requirements, including performing in timely manner of working programs, payment terms and reporting obligations.

Assets and workers:

The company does not own any substantial assets. All equipment and vehicles for exploration works are temporarily rented. All workers are seasonal workers from closest settlement and employed under temporary contracts. Necessary review, analysis and reports outsourced to relevant Kazakhstan expert agencies.

The owner offers to sell 100% shares of a Kazakhstan company which holds exploration license.