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Corcoran Canyon

Corcoran Canyon is the highest-grade bulk tonnage open-pittable silver deposit in North America, and hosts a historical silver-gold resource ready for economic studies. The project offers the potential for near-term cash flow from a drilled silver-gold resource.

Located in Nevada, USA, the project lies in a prolific belt of gold and silver deposits that have produced in excess of 175M ounces of silver and hosted over 20M ounces of gold. The project is located 75 km northeast of the historic Tonopah silver-gold district (>175M ounces silver produced), and 15 km east of and on the same caldera margin structure related to Kinross’ Round Mountain Mine (>15M ounces gold total endowment). The project consists of 253 unpatented mineral claims covering approximately 1,959 ha.

A historical resource estimate on the Corcoran Canyon project includes Measured + Indicated resources of 1,54M tonnes grading 195.6 g/t Ag and 0.37 g/t Au; and Inferred resources of 2.16M tonnes grading 300.0 g/t Ag and 0.27 g/t Au. 1

Silver-gold mineralization on the project consists of zones of low-sulfidation veining, stockwork, breccias, and disseminations in a northeast-trending belt accompanied by widespread hydrothermal alteration. Veining consists of as many as 15 different mineral assemblages with drusy quartz-adularia and dark gray siliceous microbreccia veins dominating, and including pyrite and Ag-Cu-Sb-As sulfides and sulfosalts and their oxidized equivalents in gangue of quartz, calcite, adularia, siderite, and barite. Fracture surfaces coated with adularia are similar to those characteristic of Au mineralization at Round Mountain.

The historical resource on the project occurs in the Silver Reef zone, a northeast-trending body of mineralization that crops out on surface in a resistant hill, providing excellent access for mining and potentially low strip ratio during mining. The Silver Reef zone is open along strike to the northeast and southwest, and the project has multiple high-quality expansion targets. The Silver Reef zone shows excellent expansion potential for high-grade mineralization at depth, where bonanza-grade silver of up to 2,616 g/t Ag has already been drilled.

Resource Capital Gold plans to move the project on a fast track to development, beginning with a 2,000-meter resource-verification drill program in order to calculate a current mineral resource on the project. The Company plans to follow this with a complete feasibility study including metallurgical test work and environmental studies, leading to construction and commissioning. The project is initially envisioned as an open-pit mine with heap-leach processing, but the feasibility study will also evaluate a milling scenario, which may bring enhanced economic returns to this advanced, high-grade silver project.

1 This historical resource is based on historical drill data that has not been upgraded to NI 43-101 standards. A qualified person has not done sufficient work to classify this historical estimate as a current mineral resource, and Resource Capital Gold Corp. is not treating it as a current mineral resource.

The scientific and technical information in this disclosure was reviewed and approved by David S. Smith, MS, MBA, CPG, who is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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