Newfoundland Gold Explorer Following a Plan to Discovery

• Jeff Swinoga became CEO in September to find a gold discovery in Newfoundland. He has 25 years of mining experience.
• The company spent several months creating an "Exploitation 2.0" playbook to systematically explore its large land package.
• They are focused on the interpreted Appleton Fault which hosts some of their best targets like Titan.
• The recent $1.5M financing provides funding as they start drilling at Titan and continue field exploration.
• The CEO believes they have an experienced team executing well and following a plan to make a discovery.

Exploits Discovery Corp is a junior gold exploration company focused on the province of Newfoundland and Labrador in Canada. With a large, strategic land package and an experienced leadership team, the company aims to make a significant high-grade gold discovery in the region.

After a period of immense interest and speculation in Newfoundland exploration plays, Exploits Discovery wants to take a measured, systematic approach to exploration. The company brought on a new CEO in September 2022 to spearhead these efforts. Jeff Swinoga has over 25 years of experience in the mining sector, including executive roles with major miners like Barrick and Hudbay Minerals.

When Swinoga joined Exploits Discovery, he took several months to work closely with the team to create an "Exploitation 2.0" strategic playbook. This details how the company plans to explore their extensive land package in the most effective way.

"We stepped back and created a founding document I call it - it's 200 pages of how to explore for gold in Newfoundland," Swinoga explained. "We look at a bunch of criteria that is aligned with the research."

The playbook incorporates input from renowned experts like Dr. David Groves, an Australian geologist who has discovered major gold deposits globally. Local Newfoundland prospectors and government geologists also provided input. The goal was to take advantage of all the experience in the region following New Found Gold's major discovery.

Focusing Efforts on the Appleton Fault

After developing the detailed playbook, Exploits Discovery has been able to prioritize and rank the company's exploration prospects.

"It kind of brought us back to the interpreted Appleton fault and some of the splays that kind of came off it," says Swinoga. "Those are the the targets that we're focused on."

The Appleton Fault Zone is becoming one of the most sought-after regional structures in Newfoundland. Major players like New Found Gold, Labrador Gold and Marathon Gold have projects along the fault. Exploits Discovery has a commanding land position along the Appleton Fault with targets spanning 200km in the northern region.

The company currently has three priority targets along the northern portion of the Appleton Fault - True Grit, Little Joanna and the Titan area. Each of these were identified and ranked highly based on the systematic exploration approach outlined in the Exploitation 2.0 playbook.

While the market appetite for Newfoundland explorers has declined significantly from the euphoric highs of 2020/21, Exploits Discovery has taken advantage of the period to lay the groundwork for discovery. Equipped with a revamped playbook and robust treasury, the company is now focused on execution at its top targets.

Drilling Underway at Top-Ranked Titan Target

The Titan area has emerged as the foremost priority for Exploits Discovery. The project lies within the Goldenville-York Harbour corridor, an area known to host gold mineralization. Historic drilling done by previous operators at Titan in the early 2000s generated intriguing gold intercepts, but the area has never seen modern, systematic exploration.

Given the site's prospectivity, Exploits Discovery initiated an extensive geophysical and geochemical program at Titan this year. The work generated several new drill targets that the company believes have strong discovery potential. An induced polarization (IP) survey uncovered an extensive chargeability high anomaly. This demonstrates significant sulfide mineralization in the bedrock below, which is important for hosting gold.

"It did have historic drilling there already and some not bad intercepts. So what we did is we said okay well it's got some nice rock surface samples, it's got historic drilling so we know gold is there, we've got the new IP study," said Swinoga.

In September 2022, Exploits Discovery commenced a phase one diamond drilling program at Titan to test these high-quality targets. The focus is testing down-dip and along strike from historic intercepts that only went to shallow depths. The drilling aims to validate whether the IP chargeability anomaly connects with the gold mineralization hit previously.

The company has the cash on hand to fully fund this initial 3,000-metre drill program thanks to a recent $1.5 million financing. The non-brokered private placement was led by large institutional investor Sprott Asset Management, which now owns 6% of the company. The raise replenished Exploits Discovery's flow-through reserves allowing exploration work to continue unhindered.

Whilst early days, the Titan target exemplifies the disciplined, systematic exploration approach Exploits Discovery has implemented. Additional fieldwork across its massive land package aims to uncover more high-quality targets like Titan.

An Efficient Exploration Strategy

With a vast land package spanning over 2,000 square kilometers, Exploits Discovery cannot aggressively drill test every target. Instead, the ranking system and exploration playbook allow for the efficient allocation of resources.

"When you have a large land package you have to - that's why we employed this scorecard technology or the scorecard for each prospect," Swinoga explained. "The key thing is about planning to be successful."

The CEO believes the company's exploration strategy will ultimately shorten the timeframe to make a discovery. He points to New Found Gold as an example, which took around two years to drill off its Keats discovery.

Beyond the flagship Titan project, continued soil sampling, prospecting, and geophysics across its land package aim to refine and identify new targets. This includes following up on historic drill intercepts that have not seen modern exploration techniques. The company can then systematically advance the most prospective projects up the pipeline. According to Swinoga, "It's a constant process - and uh, we kind of have a leadership model that we seek alignment so everyone has a voice." This collaborative approach takes advantage of the deep local knowledge while incorporating modern techniques.

The recent raise provides Exploits Discovery with a robust treasury and room to manoeuvre. Smith aims to maintain prudent financial positioning, extending the runway while still aggressively exploring. Further capital can be raised as needed if the drilling validates a significant discovery at Titan or elsewhere.

Newfoundland Offers Tremendous Upside Potential

Exploits Discovery's large land package, technical team, and systematic exploration strategy offer investors tremendous optionality. The upside potential of new gold discoveries in Newfoundland has been demonstrated with New Found Gold's success. The company estimates it is still early days for the region, with known deposits representing just 5% of the 110 million inferred gold ounces. Exploits Discovery's commanding presence along the crucial Appleton Fault provides the chance to be part of the next big discovery.

With a renewed focus and plan in place, the company is now moving aggressively to drill test its priority targets. Upcoming assay results from Titan and ongoing fieldwork across its land package could quickly yield new discoveries. Wise positioning by the Exploits Discovery team during a depressed market increases this opportunity for investors willing to take the risk.

The Investment Thesis for Exploits Discovery

• Strategic land package of over 2,000 sq km focused on the key Appleton Fault trend in Newfoundland's Gold Belt
• Recently formalized systematic exploration playbook to effectively prioritize targets
• Currently drilling top-ranked Titan project with strong discovery potential
• Robust treasury of ~$11M and institutional support to fund ongoing exploration
• Collaborative team with extensive local knowledge and global expertise
• Massive exploration upside if drilling intersects significant gold mineralization