Cautionary statements

Qualified Person

The technical content of this website has been reviewed and approved by Dean Besserer, P.Geol., who is a Qualified Person as defined by SK1300 and National Instrument 43-101.

1. Historical estimates

Historical resource estimates from the 1980s and 1990s were completed before the implementation of SK1300 and NI 43-101 and the construction of the CIM Estimation of Mineral Resource & Mineral Reserve Best Practice Guidelines, updated November 29, 2019, and the CIM Definition Standards on Mineral Resources & Mineral Reserves dated May 10, 2014. These historical estimates use resource categories different from those defined by the CIM Definition Standards. Even the most recent estimates, completed on behalf of Basin Gulch Co LLC, were informal estimates that were not properly documented in any NI 43-101 technical report and were completed before the most recent CIM guidelines.

A qualified person has not done sufficient work to classify any of these estimates as current mineral resources or mineral reserves under the CIM Definition Standards (2014) and the CIM Best Practice Guidelines. Lannister is not treating the historical estimates as current mineral resources or reserves.

2. Exploration targets

The potential quantity and grade at the Basin Gulch Property is conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain whether further exploration will result in the target being delineated as a mineral resource.

3. Processing

In 1998, cyanide processing of ore from new open-pit mines in Montana was narrowly banned statewide. Processing pathways remain to be defined. Alternative processing and extraction methods will need to be investigated in future work programmes, and Lannister will examine opportunities to process material within the jurisdiction.

Risk factors

• All of Lannister’s business activities are at the exploration stage, and there is no assurance that exploration will result in the commercial development of gold, silver or other minerals. Volatile metal prices and external factors may affect profitability and the marketability of minerals.
• Lannister has no history of mineral production, and there is no assurance that it will establish mining operations or profitably produce mineral products.
• Mineral exploration and development are subject to extraordinary operating risks. Lannister does not currently insure against these risks.
• Lannister cannot guarantee undisputed title to its mineral properties.
• Future issuances of common shares or convertible securities, or the expiry of lock-up agreements, could cause the share price to decline and dilute holdings.
• Lannister may not satisfy or maintain the listing requirements of the NYSE American.
• As a foreign private issuer, Lannister may rely on exemptions from certain NYSE American corporate governance standards that apply to domestic U.S. issuers.

Related disclosures

Read our forward-looking statements and privacy policy.

No offer

Nothing on this website constitutes an offer to sell, or the solicitation of an offer to buy, securities in any jurisdiction. Investors should read Lannister’s filings with the U.S. Securities and Exchange Commission, including the risk factors described in them, available free of charge on EDGAR at sec.gov.