Key Highlights

Matmown Corp is focused on acquiring and developing projects rich in minerals and precious metals allowing the Company to strive for maximum returns on investment.
Our project in Peru has had multiple Geological studies performed. We intend to update our NI 43-101 Report with further exploration work.

Before undertaking the exploration of a concession, a mining company must receive authorization from the owners or municipal authorities by way of a minerals lease agreement. Under Peruvian law, the right to explore for and exploit minerals is granted by way of concessions. A Peruvian mining concession is a property-related right; distinct and independent from the ownership of land on which it is located, even when both belong to the same person. The rights granted by a mining concession are defensible against third parties, transferable, chargeable and, in general, may be the subject of any transaction or contract. Participating interests in mining concessions can be optioned or transferred. Buildings and other permanent structures used in a mining operation are considered real property accessory to the concession on which they are situated. The term of a mining concession is indefinite if it is properly maintained by payment of annual rental duties.

OVERVIEW

The Property is located in the District of Huaura, Province of Huaura, Department of Lima in the Republic of Peru, approximately 125 km North-Northwest of Lima. The Concessions are centered on UTM coordinate system, WGS84, zone 18L, 231,300 meters East and 8,783,000 meters North; or geographic coordinate system 77o 27’ 11” of west Longitude and 11o 00’ 16” of south Latitude.

The Property comprises three separate but nearby metallic mineral Concessions that cover a total area of 1,700 hectares. The Concessions are named: BARACK, GOLDROCK 1 and MELAHIM 5.

The Concessions are 100%-owned by MATMOWN CORPORATION S.A.C., a Peruvian Corporation with Tax Identification Number (RUC) 20511029598.

Currently one significant mineralized zone has been identified on the Property. The mineralization occurs within a fault structure that brecciated the country rock producing a conduit for the mineralizing fluids. The fault strikes 100+-10 degrees and dips approximately 42 degrees to the south. The brecciated mafic rock locally displays intense iron oxide and argillic alteration with the formation a dark brown quartz iron oxide vein structure. Goethite, hematite, limonite, jarosite and quartz are common within the vein. Gold occurs in both the vein structure and altered breccia rock within the fault system. The mineralized structure has a thickness that varies from 10 cm to 50 cm and is continuous along strike for more than 50 m and with a down-dip continuity of more than 40 m.

Underground sampling (58 samples) of the mineralized structure indicates that the mineralization is characterized by anomalous mineral contents which assay on average 10.18 g/t gold. The mineralization also contains significant copper contents averaging 0.150% copper. The mineralized rock locally contains elevated lead and zinc concentrations that reach up to 0.330% Pb and 0.366% Zn; however, the average contents are lower with 0.019% Pb and 0.063% Zn.

Systematic sampling within the underground galleries identified a north south trending high grade zone within the mineralized structure where the average gold

content reaches 20.8 g/t (n=22). The south plunging hour-glass shaped zone has an average thickness of 33 cm and a width from of 5 to 15 m. The known down-dip continuity is 35 m.
A 28.69 metric tonne bulk oxide mineralization sample returned a head grade of 12.07 g/t Au which is consistent with the average Au concentration reported in this study (i.e., 10.18 g/t Au n=58). The slightly higher head concentration could result from small scale ore sorting before loading the truck.

The Property is at an early exploration and there is currently no exploration work being carried out.

There is not enough exploration data in order to make a production decision. Exploration investments at this stage are speculative and there are no guarantees that the current mineralized structure or Property holds enough ore of sufficient quality to be a profitable mine. Technical studies such as diamond drilling and underground exploration are needed in order to estimate a reliable mineral resource.

The goals of this report were to compile the Property’s exploration information in the form of a NI 43-101 report and propose an exploration program in light of the new information. These goals have been met. It is concluded that the mineralization contains elevated gold concentrations of economic interest that warrants further exploration in order to confirm its continuity.

A two-phase exploration program is recommended. Phase II is contingent on positive results of Phase I.

The Phase I program is aimed at acquiring the necessary information required to plan and execute the more advanced Phase II exploration program on the Property which includes underground development and diamond drilling.

Three geodesic benchmarks should be installed on high ground and measured to less than 1 mm accuracy. These benchmarks will serve as satellite imagery targets and for high precision surface and underground surveying.

Once the benchmarks are measured a current set of stereoscopic satellite images with 30-60 cm per pixel resolution should be purchased. A reliable precise 30 cm XYZ-error digital elevation model should be generated from these images. It is also recommended to carry out remote sensing mineral exploration using the 16 band WorldView-3 satellite to identify prospective iron oxide zones within the Property.

A 1:1000 geological mapping project should be initiated within the area of interest. The project should focus on the structural geology south of the artisan mine.
The location of underground development and drill hole collars will be selected once phase I is completed.

Approximately 200 m of exploration galleries should be constructed down dip near the high-grade zone. The new mineralization exposure should be precisely located and sampled every 2 m. Geological mapping is also needed within the new development.

A 1000-1500 m diamond drilling project should be carried out. The drilling will confirm the along strike and down dip continuity of the mineralized structure. Some deeper exploration holes should also be drilled to possibly find other gold bearing structures.

The Phase I project is expected to cost about USD42,000 whereas the Phase II exploration project should cost approximately USD500,000.

PROPERTY DESCRIPTION & LOCATION

Location
The Property is located in the District of Huaura, Province of Huaura, Department of Lima in the Republic of Peru on the continent of South America, approximately 125 km North-Northwest of Lima (Figure 4.1). It is located within the 1:100,000 map sheets 22-i AMBAR and 23-i HUARAL. The Concessions are centered on UTM coordinate system, WGS84, zone 18L, 231,300 meters East and 8,783,000 meters North; or geographic coordinate system 77o 27’ 11” of west Longitude and 11o 00’ 16” of south Latitude.

Property Description and Ownership
The Property comprises three separate metallic mineral Concessions that cover a total area of 1,700 hectares. The Concessions are named: BARACK, GOLDROCK 1 and MELAHIM 5. Figure 4.2 shows the Concessions’ location and shape whereas Table 4.1 summarizes the details of each Concession forming the Property.

The Concessions are 100%-owned by MATMOWN CORPORATION S.A.C., a Peruvian Corporation with Tax Identification Number (RUC) 20511029598.
To date, the Concession fees applicable to the Property have been paid and the Concessions are in good standing until June 30th 2020. Table 4.2 summarizes the yearly payments required to maintain each Concession.

The Property’s surface Rights have not yet been acquired by the Concession Owner.

Law No. 27651: The Artisan and Small Mining Promotion Law was created in 2002 to facilitate the incorporation of artisan and small miners into the formal economy and to help preserve the environment. This law and its modifications such as D.L.

No. 1105, D.L. No. 1336, D.L. No. 1293 and Ley No. 31007 give an easier legal pathway to artisan or small-scale mining. D.L. 1293 establishes a public registry of person or entities that are using this formalization process. This special process was available until 2017 when the Registry officially closed. A search of this registry reveals that Arnaldo Yvan Castillo Mendoza with RUC number 10092755075 is in the process of formalizing his artisan mining activity located within the BARACK Concession. To date, his process is active. However, in order to obtain the 5 year-long Artisan Miner status, Mr. Castillo Mendoza needs to lease or purchase the surface Rights and mining Concession Rights from their lawful owners before August 2020. Matmown has indicated that it wishes to collaborate with Mr. Castillo Mendoza.

To the Author’s knowledge there are no other back-in rights, payments, or other agreements and encumbrances to which the property is subject.

Generally, a semi-detailed Environmental Study and a Category II Exploration permit are required to conduct the proposed exploration work. However, a partnership with the Artisan Miner may allow Matmown to indirectly carry-out the underground exploration. To date, Matmown has not acquired the permits required to conduct the Phase II work proposed for the Property.

To the extent known, there are no other significant factors and risks that may affect access, title, or the right or ability to perform work on the property.

Geological Setting and Mineralization

Regional Geology
The Property is located within the pre-Andean plains morphologic unit and at the foothills of the Coastal mountain range tectonic setting of Peru (Lecaros et al., 2000).
The oldest recognized rocks of the region are members of the volcano- sedimentary Puente Piedra Group that erupted at the end of the Jurassic and early Lower Cretaceous periods. Overlying the Puente Piedra Group are the continental siliciclastic sedimentary rocks of the Morro Solar Group and the limestone sequences of the Pamplona and Atocongo Formations. These rocks are overlain by the Casma Group which comprises marine volcanic rocks inter-stratified with marine sedimentary sequences that were deposited during Albian-Cenomaniano ages. Figure 7.1 shows the regional stratigraphic column.

Plutonic rocks are widespread along the coast and are mostly member of the Coastal batholith. The Coastal Batholith is a bimodal intrusive complex of calc- alkaline affinity emplaced between 102 to 37 Ma. It is formed of intrusions that vary in composition from gabbro to K-rich granites. It outcrops along a corridor parallel to, and at a distance of 5 to 20 km from the coast.

The structures affecting the volcanic and sedimentary cover have been displaced and truncated by the intrusion of the Coastal Batholith. This deformation was most intense during the Lower Cretaceous. The Coastal Batholith was later sheared and faulted during the Inca deformation phase.

Local and Property Geology

The principal rock units identified on the Property are the volcanic and volcano- sedimentary rocks of the Casma Group and the intermediate to felsic intrusive rocks of the Coastal Batholith (Santa Rosa complex and Rio Supe-Rio Huaura complex (Figure 7.2). Five rock units outcrop: (i) Santa Rosa tonalite, (ii) Santa Rosa diorite, (iii) Santa Rosa quartz-monzonite, (iv) Rio Supe-Rio Huaura complex quartz-monzonite and (v) Casma Group andesite (Cobbing, 1973). The Santa Rosa tonalite is a heterogeneous unit that mostly comprises leucocratic tonalite with varying ferromagnesian mineral modes. Euhedral hornblende and biotite phenocrysts are common. Potassium feldspar is locally present.

The Santa Rosa diorite is a heterogeneous unit that mostly comprises massive medium-grained diorite. A gradation from normal diorite to melanocratic diorite near the contact with the eastern gabbro exists. Hornblende and biotite are common.

The Santa Rosa quartz-monzonite is white to light gray and contains plagioclase (An40), orthoclase, biotite and quartz. Hornblende, titanite and apatite are common accessory minerals. Biotite booklets reaching 1 cm are common.

The Rio Supe-Rio Huaura complex is composed of medium- to coarse-grained light gray hornblende-bearing quartz monzonite. Biotite, titanite and ilmenite are common accessory minerals.

The Casma Group is a well stratified unit mostly composed of thin (3 to 5 m) massive andesitic flows interbedded with thinner pyroclastic beds of similar composition. The Casma Group rocks are cross-cut by the intrusive rocks of the Coastal Batholith.

Three preferred structural orientations were identified (strongest to weakest): (i) 010, (ii) 100 and (iii) 350. The gold mineralization occurs along the east-west structural system and is most likely genetically related to the Coastal Batholith intrusion.

Mineralization

At present one significant mineralized zone has been identified on the Property. The mineralization occurs within a fault structure that brecciated the country rock producing a conduit for the mineralizing fluids. The fault strikes 100+-10 degrees and dips approximately 42 degrees to the south. The brecciated mafic rock locally displays intense iron oxide and argillic alteration with the formation a dark brown quartz iron oxide vein structure near the contact between the footwall and hanging walls. Goethite, hematite, limonite, jarosite and quartz are common within the vein.

Gold occurs in both the vein structure and altered breccia rock within the fault system. No sulphides were identified. The mineralized structure has a thickness that varies from 10 cm to 50 cm and is continuous along strike for more than 50 m and with a down-dip continuity of more than 40 m.

Underground sampling (58 samples) of the mineralized fault system indicates that the mineralization is characterized by anomalous mineral contents which assay on average 10.18 g/t gold. The mineralization also contains significant copper contents averaging 0.150% copper. The mineralized rock locally contains elevated lead and zinc concentrations that reach up to 0.330% Pb and 0.366% Zn; however, the average contents are lower with 0.019% Pb and 0.063% Zn.

Systematic sampling within the underground galleries identified a north south trending high grade zone within the mineralized structure where the average gold content reaches 20.8 g/t (n=22). The south plunging hour-glass shaped zone has an average thickness of 33 cm and a width from of 5 to 15 m. The known down-dip continuity is 35 m.

Figure 7.3 shows the typical mineralization as seen underground whereas Table 7.1 gives the mineralization sampling assay results from Pigeon (2009) and Astorga (2016).

Figure 7.4 shows the sample locations and Au results as well as the location of the high-grade Au zone.

Deposit Types

Mesothermal vein style gold mineralization

The deposit model guiding exploration targeting is mesothermal vein style gold mineralization.

The mesothermal gold deposits were formed during compressional to transpressional deformation processes at convergent plate margins in accretionary and collisional orogens. In both types of orogen, hydrated marine sedimentary and volcanic rocks have been added to continental margins during tens to some 100 million years of collision. Subduction-related thermal events, episodically raising geothermal gradients within the hydrated accretionary sequences, initiate and drive long-distance hydrothermal fluid migration. The resulting gold-bearing quartz veins are emplaced over a unique depth range for hydrothermal ore deposits, with gold deposition from 15–20 km to the near surface environment (Groves et al., 1998).

Exploration

Astorga 2016 Rock Sampling

In 2016 Matmown contracted geologist Carlos Astorga to carry-out the first comprehensive sampling project within the underground workings located on the Property. Forty seven samples were collected from the artisan mine mineralization and 3 samples where collected from an exploration addit. The samples were collected by chipping the rock within well-marked mineralized areas using a hammer and chisel. The sample widths were measured and photos were taken at each sampling site. The samples are of good quality and are representative of the rock located within the sampling areas. On average one sample was collected per 10 m of underground working.

The sample locations were measured using a hanging compass, clinometer and measuring tape from a gps-measured point located at the portal. The location data was collected every 2 m. The sample location error is estimated at 2-3 m.

Underground sampling by Astorga (47 samples) of the mineralized fault system indicates that the mineralization is characterized by anomalous mineral contents which assay on average 11.7 g/t gold. The mineralization also contains significant copper contents averaging 0.140% Cu. The mineralized rock locally contains elevated lead and zinc concentrations that reach up to 0.330% Pb and 0.366% Zn; however, the average contents are lower with 0.021% Pb and 0.042% Zn. The arsenic content varies from undetectable to 1851 ppm and averages 560 ppm.

Four composite samples were collected to study the gold distribution within the mineralized structure. The gold occurs in both the dark iron oxide vein structures and within the lighter-colored, brecciated and argillic-altered country rock with iron oxide-stained fractures. Table 9.1 gives the weighted average Au concentration and total thickness for each of the composite sample sites.

Table 7.1 gives the Astorga (2016) assay results from the artisan mine workings and Figure 7.4 shows the underground sample locations and results.

Only three samples were collected in the 7 m deep exploration addit located 170 meters southeast of the artisan mine portal. One sample taken at the addit portal within a strongly oxidized vein structure returned 2.5 g/t Au over 15 cm; however, the other two samples collected underground were gold barren.

Adjacent Properties

Capacho de Oro

The Property is located 5 km south of the Capacho de Oro gold mine owned by Minera Vicus S.A.C. The mine targets five mesothermal veins similar to the one located on the Property. At depth the veins are composed of quartz, sericite, pyrite chalcopyrite whereas on surface these minerals were oxidized to magnetite, hematite and jarosite (Huillca Paniura 2017). The vein thicknesses vary between 10 to 60 cm and have a NE-SW orientation. The gold is disseminated into the quartz and also occurs as inclusions within pyrite and sphalerite. High grade mineralization occurs as 30-50 m ore shoots irregularly distributed within the vein but usually 10 to 30 m apart. The veins are displaced by a fault system striking NW-SE.

Newmont

Two Newmont projects are located east northeast of the Property: (i) Mirador (40km) and (ii) Illari (60km). Both are copper and gold projects that are at the drilling exploration stage with the Illari project being more advanced. An internet search of both projects did not return any geological information.
The Author has been unable to verify this information and it is not necessarily indicative of the mineralization on the Property.
Figure 23.1 gives the location of the adjacent properties.

Interpretations and Conclusions

The project is at an early exploration stage where one gold-mineralized structure has been identified but its continuity has not yet been tested. A 300 m network of underground workings built by an artisan miner exposes the mineralized structure. The total exposure is approximately 50 m along strike and 35 m down dip. The average mineralization thickness is approximately 0.27 m.

To date, 58 rock samples from the structure have been collected in order to evaluate the mineralization’s chemical characteristics and gold distribution. The mineralization is characterized by anomalous mineral contents which assay on average 10.18 g/t gold (n=58). The mineralization also contains copper contents averaging 0.150% Cu (n=58). The mineralized rock locally contains elevated lead and zinc concentrations that reach up to 0.330% Pb and 0.366% Zn; however, the average contents are lower with 0.019% Pb (n=58) and 0.063% Zn (n=58). The arsenic content varies from undetectable to 1851 ppm and averages 558 ppm (n=58).

At least one north-south plunging high grade zone within the mineralized structure was identified (Zone A; Figure 7.4). The hourglass-shaped zone has an average gold concentration of 20.8 g/t Au (n=22). The zone is continuous along strike from 5 to 15 m and has a 35 m down-dip continuity and remains open at depth. A second zone possibly exist to the west (Zone B); however, further westward underground exploration is required to confirm.

A 28.69 metric tonne bulk oxide mineralization sample returned a head grade of 12.07 g/t Au which is consistent with the average Au concentration reported in this study (i.e., 10.18 g/t Au n=58).

There is currently not enough exploration data in order to make a production decision. Exploration investments at this stage are speculative and there are no guarantees that the current mineralized structure or Property holds enough ore to be a profitable mine. Technical studies such as diamond drilling and underground exploration development are needed in order to estimate a reliable mineral resource.

The goals of this report were to compile the Matmown exploration information in the form of a NI 43-101 report and propose an exploration program in light of the new information. These goals have been met. It is concluded that the mineralization contains elevated gold concentrations of economic interest that warrants further exploration in order to confirm its continuity.

Recommendations

A two-phase exploration program is recommended. Phase II is contingent on positive results of Phase I.

Phase I

The Phase I program is aimed at acquiring the necessary information required to plan and execute the more advanced Phase II program on the Property which includes underground development and diamond drilling.

Topography
Three geodesic benchmarks should be installed on high ground and measured to 1 mm or better accuracy. These benchmarks will serve as satellite imagery targets and for high precision surface and underground surveying.

Satellite Imagery

Once the benchmarks are measured a current set of stereoscopic satellite images with 30-60 cm per pixel resolution should be purchased. A reliable precise 30 cm XYZ-error digital elevation model should be generated from these images. It is also recommended to carry out remote sensing mineral exploration using the 16 band WorldView-3 satellite to identify prospective iron oxide zones within the Property.

Underground Safety

The artisan mine needs to be inspected by a qualified engineer to asses its safety. Corrective measures should be carried out accordingly. The mine portal is informal and without any security barrier. A steel gate with lock should be installed.

Geological mapping

A 1:1000 geological mapping project should be initiated within the area of interest. The project should focus on the structural geology south of the artisan mine.

Phase II

There is currently not enough technical information on the Property to fully plan the phase II work. The location of the underground development and drill hole collars will be selected once phase I is completed. The following is a brief description of the recommended phase II work.

Underground Exploration

Approximately 150 to 200 m of exploration galleries should be constructed down dip near the high-grade zones A and B. The new mineralization exposure should be precisely located and sampled every 2 m. Geological mapping is also needed within the new galleries.

Diamond drilling

A 1000-1500 m diamond drilling project should be carried out to confirm the along strike and down dip continuities of the mineralized structure. Some exploration drilling should also be included to possibly identify other gold bearing structures.

Table 26.1 gives the cost estimate of the Phase I and Phase II exploration programs

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