GOLD PROJECTS

Opawica and Philibert-1 Projects

Sold 2018 for 7,200,000 shares of Mosaic Minerals Corp

OPAWICA Project (Quebec, Canada)

In 2018, as part of Stellar’s review of non-core assets and consistent with Stellar strategic plan to focus on its core African project, Stellar sold the Opawica and Philibert-1 Projects to Mosaic Minerals Corp. for 7,200,000 shares of Mosaic valued at $360,000 recovering all of Stellar’s historical costs of acquisition and exploration.

The OPAWICA property consists of three blocks totalling 80 mining cells recently acquired by Stellar AfricaGold in the area of the new Liam gold discovery, on Vanstar’s Nelligan project. The property is located approximately 45 kilometres south of the town of Chapais, Quebec, and is accessible year-round through several forestry roads. A power line crosses the south block of the OPAWICA property.
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The OPAWICA property is located within the Tomagold-Iamgold-Vanstar-Soquem working area, currently the most active exploration camp in Quebec. The most important gold occurrences reported in the area include the Soquem Meston Lake deposit (1.2 million tonnes at 6.25 grams per tonne (g/t) gold (Au)), the Soquem Philbert deposit (1.3 million tonnes at 5.32 g/t Au), numerous high-grade drills and channel samplings reported by Tomagold, Vanstar, Murgor and Soquem, as well as the former Joe Man gold mine that produced over one million ounces of gold.

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PHILIBERT-1 Project (Quebec, Canada)

Stellar AfricaGold Inc. recently acquired a 100-per-cent interest in the PHILIBERT-I property from Vanstar Mining.
The property consists of four mining cells covering 224 hectares in the Gamache Township, 45 kilometres south of the town of Chapais, This property is located in the same environment as the Company’s OPAWICA property, 6.5 kilometres north-northeast of Vanstar’s Liam discovery.
The PHILIBERT-I showing, which was discovered in 1983 by prospection, consists of a gold mineralization associated with quartz-tourmaline-sulphides veins. Historical exploration reported grades of 31.6 grams per tonne gold and 2.54 grams per tonne silver in channel sampling across exposed quartz veins, and of 18.66 grams per tonne gold over 0.6-metre cuts in a drill hole.
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