Sawmill Canyon (Frisco) Annual 2021 Report

2021 Summary of Activities

Kennecott Exploration began 2021 with preparations for a 3-4 drillhole program; however, internal limitations led to the decision to postpone this work. The team refocused on reviewing and prioritizing targets across the property. In lieu of additional drilling, tightly spaced (~25m) UAV (un-crewed aerial vehicle) based magnetic and orthophoto surveys were completed covering areas including the Cactus Breccia, Accrington Skarn, and Reciprocity targets.

As a result of desktop review and the UAV magnetics survey, additional targets or areas of interest were identified and minor follow up field work was completed for some. A total of seven additional drill sites and associated trails were surveyed by Tetra Tech (archaeology) and added to KEX’s permit.

In late 2021, brief consideration was given to drilling 1-2 holes but was further postponed namely due to the situation regarding COVID-19. A 3-5 drill hole program was proposed for 2022, but only one of the targets has been approved for 2022 at this time.