MRZ.V · 2019-03-04

Mirasol Announces Assay Results from the Second Drill Program and Results from Initial Gold Leach Recovery Tests from the La Curva OceanaGold JV

Drill Results Exploration Programs Metallurgy & Processing

NEWS RELEASE

Mirasol Announces Assay Results from the Second Drill Program and Results from Initial Gold Leach Recovery Tests from the La Curva OceanaGold JV

VANCOUVER, BC – March 4, 2019 -- Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF, “Mirasol”) is pleased to announce assay results from the second program of drilling and initial cyanide extractable gold tests of the mineralization from the La Curva OceanaGold (OGC) JV in Santa Cruz province, Argentina.

The CEO of Mirasol, Norm Pitcher, stated “We are encouraged by the drill results received from this program and the initial indication of metallurgically favourable characteristics of the Au mineralization at the SouthWest prospect. Based on the results of this program high priority drill targets have been generated for future drilling”.

Highlights from the Second Drill Program and Cyanide Leach Analysis

The second program of diamond core and reverse circulation drilling was completed at the project, totalled 3,227.8m in 17 holes, testing targets at the Curva West prospect and the Castora Trend’s Cerro Chato, SouthWest and Pison prospects (Figure 1).
Encouraging anomalous Au+Ag intersections were returned at the 3 Castora Trend Prospects, with best results received from SouthWest drill holes SW-DDH-08,09 and SW-RC-01, and Cerro Chato drill hole CC- DDH-010 (Table 1):
- SW-DDH-08 20.0 m at 0.97 g/t Au and 1.9 g/t Ag,

Including, 5.50 m at 2.11 g/t Au and 4.3 g/t Ag

SW-DDH-09 135.6 m at 0.54 g/t Au and 3.8 g/t Ag,

Including, 0.60 m at 12.95 g/t Au and 220.0 g/t Ag,

5.40 m at 1.55 g/t Au and 10.4 g/t Ag, and

1.05 m at 10.72 g/t Au and 60.0 g/t Ag

SW-RC-01 60.0m at 0.43 g/t Au and 6.6 g/t Ag,

Including, 3.0m at 3.62 g/t Au and 54.3 g/t Ag

CC-DDH-010 26.3m at 0.56 g/t Au and 10.7 g/t Ag

Including, 0.45 m at 24.1 g/t Au and 87.3 g/t Ag.

Results from all drilling to date and surface geology at SouthWest, outline a NW oriented 1,100 m long and up to 300 m wide target zone for Au+Ag mineralization. Cross sections through this target, show Au+Ag grades vectors to depth and the north, toward a large NW striking normal fault that may have acted as a “feeder structure” to mineralization. This structure represents a compelling drill target for higher grade Au+Ag mineralization (Figure 2 and Figure 3).
Nine samples weighing up to 1 kg, composited from mineralized drill assay pulps from the SouthWest and Cerro Chato prospects, were assayed via the LeachWELL^TM process, as an initial test of cyanide recoverable gold characteristics of the main styles of mineralization recognized to date (Table 2). Encouraging gold recoveries were received from the SouthWest prospect with 93.9 % gold recovery achieved from banded epithermal vein style mineralization and an average 69.5% from Mineralization Style 2, breccia matrix mineralization (with an average of 73.6% recovery from all samples for the prospect). The banded epithermal vein style mineralization at Cerro Chato returned a gold recovery of

98.58%, however recoveries for Style 1 sulfide veinlet and breccia matrix mineralization were much lower at the Cerro Chato prospect, averaging 26.2%.

Petrographic analysis of the different styles of mineralization confirm free gold and ruby silver (proustite
- pyrargyrite) are consistently present in the banded vein mineralization at Cerro Chato and SouthWest,

and also present in the Style 2 breccia matrix mineralization at SouthWest, correlating with the samples showing better cyanide leachable gold recovery. Further exploration at La Curva will be directed toward drill targets where these metallurgically more favourable styles of mineralization are dominant.

Integrated analysis of results and drill hole targeting are in progress ahead of an OGC and Mirasol JV meeting, planned for the end of March 2019, where future exploration priorities for the project will be decided.

Additional Geological Information and Analysis of La Curva Drill Results are detailed on Appendix A in this news release.

Stephen Nano, a Director of Mirasol Resources, has approved the technical content of this news release. Mr Nano is a Chartered Professional geologist and Fellow of the Australasian Institute of Mining and Metallurgy (CP and FAusIMM) and is a Qualified Person under NI 43 -101.

For further information, contact:

Norm Pitcher, President and CEO, or Jonathan Rosset, Vice President of Corporate Development Tel: +1 (604) 602-9989 Email: [email protected] Website: www.mirasolresources.com

Additional Explanatory Notes: * AuEq60 is the sum of the value of gold and silver in a given interval represented as a gold equivalent g/t value calculated via the formula: Au assay in g/t + (silver assay in g/t ÷ 60)

Quality Assurance/Quality Control of the La Curva exploration program:

All exploration on the project was supervised by Mirasol Stephen C. Nano, who is the Qualified Person under NI 43-101. Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Argentina for analysis. Assay results from surface rock, channel, trench, and drill core or reverse circulation samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

La Curva JV: Castora Trend Phase 1 and 2 Down Hole Drill Intersections with a Gold Equivalent Gram x Metre Product ≥ 5 Gram Metres Down Hole Intersection at Down Hole Intersection at Down Hole Intersection at 0.1 AuEq60 g/t cut off 0.3 AuEq60 g/t cut off 1.0 AuEq60 g/t cut off

Hole From To Interval Au Ag AuEq AuEq x Number (m) (m) (m) (g/t) (g/t) (g/t) Interval CC-DDH-008 22.00 123.00 101.00 0.33 2.3 0.37 37.4 1.00 44.00 43.00 0.46 6.6 0.57 24.5 CC-DDH-009 153.00 200.74 47.74 0.18 1.6 0.21 10.0 51.15 77.45 26.30 0.56 10.7 0.74 19.5 CC-DDH-010 147.00 202.00 55.00 0.12 1.1 0.14 7.7 CC-RC-001* 22.00 95.00 73.00 0.43 3.7 0.50 36.5 16.10 64.00 47.90 0.48 2.1 0.52 24.9 CC-DDH-001 93.25 119.20 25.95 0.47 1.1 0.49 12.7 40.75 65.10 24.35 0.55 2.3 0.58 14.1 CC-DDH-002 111.35 141.20 29.85 0.34 2.6 0.38 11.3 16.90 23.00 6.10 2.24 0.9 2.26 13.8 CC-DDH-003 26.00 84.00 58.00 0.21 8.4 0.35 20.3 CC-DDH-004 17.00 35.70 18.70 0.30 1.0 0.31 5.8 35.50 63.90 28.40 0.51 1.8 0.54 15.3 CC-DDH-005 94.50 129.00 34.50 0.33 1.7 0.36 12.4 CC-DDH-006 25.30 52.00 26.70 0.20 0.8 0.21 5.6 CC-DDH-007 133.00 161.00 28.00 0.31 1.7 0.34 9.5									Reported This News Release 28/02/2018
LA-DDH-001	14.00	49.20	35.20	0.25	1.3	0.27		9.5
LA-DDH-003 22.00 45.00 23.00 0.58 1.7 0.61 14.0
LA-DDH-004	25.50	41.50	16.00	1.02	0.9	1.04	1	6.6
PSN-DDH-001	59.00	83.50	24.50	0.13	4.4	0.21		5.1	This News Release
	151.00	233.00	82.00	0.22	2.2	0.26	2	1.3
SW-DDH-007	79.00	114.60	35.60	0.13	1.6	0.16		5.7
SW-DDH-008	99.50 196.00	149.00 216.00	49.50 20.00	0.19 0.97	1.6 1.9	0.21 1.00	1	0.4 0.0
							2
SW-DDH-009	24.90	53.80	28.90	0.27	4.2	0.34		9.8
	70.40	206.00	135.60	0.54	3.8	0.60	81.4
SW-DDH-010	86.00	105.00	19.00	0.24	4.3	0.31		5.9
SW-DDH-011 20.50 175.13 154.63 0.22 2.2 0.26 40.2 SW-DDH-012 120.45 126.60 6.15 0.94 3.4 0.99 6.1							40.2
SW-RC-001*	44.00	104.00	60.00	0.43	6.6	0.54	32.4
SW-DDH-002	28.00	43.10	15.10	1.03	14.0	1.26	1	9.0	28/02/2018
	74.20	180.40	106.20	0.61	2.7	0.65	69.0
SW-DDH-005	88.00	140.00	52.00	0.41	3.0	0.46	2	3.9

Hole Number	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	AuEq (g/t)		Reported
CC-DDH-008	45.40	50.00	4.60	1.22	5.6	1.31	6.0	This News Release
	70.30	76.00	5.70	0.93	4.6	1.00	5.7
	82.00	99.20	17.20	0.54	1.9	0.57	9.8
CC-DDH-009	1.00	10.00	9.00	0.77	2.6	0.81	7.3
	17.00	26.00		1.06	3.4	1.12	10.1
CC-DDH-010	66.25	67.20	0.95	11.57	42.4	12.28	11.7
CC-RC-001*	52.00	60.00	8.00	2.37	16.6	2.65	21.2
CC-DDH-001	38.60	58.25	19.65	0.72	2.6	0.77	15.1	28/02/2018
	109.25	115.00	5.75	1.24	2.0	1.27	7.3
CC-DDH-002	45.60	59.50	13.90	0.81	2.6	0.85	11.8
	120.00	132.60	12.60	0.59	3.9	0.65	8.2
CC-DDH-003	17.80	20.00	2.20	6.02	1.0	6.04	13.3
	50.20	56.50	6.30	0.60	31.8	1.13	7.1
CC-DDH-005	39.00	45.15	6.15	0.83	3.7	0.89	5.5
	96.00	106.00	10.00	0.52	1.8	0.55	5.5
LA-DDH-003	31.50	41.70	10.20	0.91	3.4	0.97	9.9
LA-DDH-004	25.50	38.50	13.00	1.22	0.7	1.23	16.0
PSN-DDH-001	167.00	180.50	13.50	0.37	3.5	0.43	5.8	This News Release 28/02/2018
SW-DDH-008	196.00	207.70	11.70	1.39	2.8	1.43	16.7
SW-DDH-009	38.50	39.50	1.00	3.81	71.8	5.01	5.0
	74.90	75.50	0.60	12.95	220.0	16.62	10.0
	94.50	107.00	12.50	0.70	4.2	0.77	9.6
	116.60	122.00	5.40	1.55	10.4	1.73	9.3
	150.80	165.60	14.80	1.29	7.3	1.42	21.0
SW-RC-001*	96.00	104.00	8.00	1.82	23.0	2.20	17.6
28.00 34.20 6.20 2.33 31.1 2.85 17.7 101.90 111.00 9.10 1.00 4.2 1.07 9.7 SW-DDH-002 120.35 123.60 3.25 2.04 10.3 2.21 7.2 129.65 135.00 5.35 2.00 7.3 2.12 11.3 140.50 167.20 26.70 0.82 2.2 0.86 23.0
SW-DDH-005	116.00	135.00	19.00	0.53	2.0	0.56	10.6


129.65	133.00	3.35	2.83	10.9	3.01	10.1
140.50	143.70	3.20	2.04	3.6	2.10	6.7
155.00	156.45	1.45	3.50	11.3	3.69	5.4

NOTES

1) Gold Equivalent grade (AuEq60) is calculated using following formula: Gold + (Silver / 60)

101.90	111.00	9.10	1.00	4.2	1.07	9.7
120.35	123.60	3.25	2.04	10.3	2.21	7.2
129.65	135.00	5.35	2.00	7.3	2.12	11.3

2) AuEq60 Gram Metre interval is calculated using:

AuEq60 (g/t) x down hole intersection length (m)

3) Intervals are calculated at the stated AuEq60 (g/t) cut off but may include up to a maximum individual intersection below the stated cutoff grade of:

a) 0.1 g/t AuEq60 Cutoff up to 3.6m

b) 0.3 and 1.0 g/t AuEq60 Cutoff up to 2.0m

4) Hole Number refers to prospect then drilling type then number.

Prospects are ”CC” Cerro Chaco, “LA” Loma Arthur, “PSN” Pison and “SW” SouthWest.
Drilling types are “DDH” diamond drilling and “RC” reverse circulation.

5) Samples from deeper parts of RC holes (denominated by *) were wet, therefore may have lower recoveries and be a less representative gold grade.

Table 1: La Curva JV, Length Weighted Average Assay Composites at 0.1/0.3/1.0 g/t AuEq Cutoff. March 2019

	Hole Number	From (m)	To (m)	Interval (m)	Sub-Sample Weights LeachWellTM (g)	LeachWELLTM Sample Number	Total Weight LeachWELLTM Sample (g)	Mineralisation Style	LeachWELLTM Gold (g/t)	LeachWELLTM Residue (g/t/)	LeachWELLTM Total Gold (g/t)	LeachWELLTM Gold Ext'n (%)
SouthWest	SW-DDH-002 SW-DDH-002 SW-DDH-002 SW-DDH-002 SW-DDH-002	105.50 120.35 140.50 141.60 155.00	107.00 121.85 141.60 142.90 156.45	1.50 1.50 1.10 1.30 1.45	200 200 200 200 200	LMLW0001	1,000	Style 2: Breccia Matrix Fill	1.900	0.824	2.724	69.75 %
	SW-DDH-002 SW-DDH-002 SW-DDH-002 SW-DDH-002 SW-DDH-002	101.90 129.65 131.10 133.00 142.90	103.00 131.10 133.00 135.00 143.70	1.10 1.45 1.90 2.00 0.80	200 200 200 200 200	LMLW0002	1,000	Style 2: Breccia Matrix Fill	1.633	0.201	1.834	89.04 %
	SW-DDH-009 SW-DDH-009 SW-DDH-009 SW-DDH-009 SW-DDH-009	74.90 116.60 118.00 158.80 159.35	75.50 117.15 118.55 159.35 159.85	0.60 0.55 0.55 0.55 0.50	200 200 200 200 200	LMLW0003	1,000	Style 3: Colloform Banded Veins	8.660	0.565	9.225	93.88 %
	SW-DDH-009 SW-DDH-009 SW-DDH-009	45.00 95.00 102.50	46.00 95.60 103.25	1.00 0.60 0.75	300 300 300	LMLW0004	900	Style 2: Breccia Matrix Fill	0.865	0.396	1.261	68.60 %
	SW-DDH-009 SW-DDH-009 SW-DDH-009	105.00 143.50 171.50	107.00 145.50 172.70	2.00 2.00 1.20	300 300 300	LMLW0005	900	Style 2: Breccia Matrix Fill	0.393	0.235	0.628	62.58 %
	SW-DDH-009 SW-DDH-009 SW-DDH-009 SW-DDH-009	150.80 155.18 158.20 160.35	151.30 156.10 158.80 161.05	0.50 0.92 0.60 0.70	250 250 250 250	LMLW0006	1,000	Style 2: Breccia Matrix Fill	0.516	0.382	0.898	57.46 %
Cerro Chato	CC-DDH-010 CC-DDH-010 CC-DDH-010 CC-DDH-010 CC-DDH-010	113.00 120.00 127.00 157.10 158.00	114.50 121.90 128.00 158.00 159.70	1.50 1.90 1.00 0.90 1.70	200 200 200 200 200	LMLW0007	1,000	Style1: Vein Breccia Matrix Fill	0.100	0.235	0.335	29.85 %
	CC-DDH-010 CC-DDH-010	61.20 66.25	61.90 66.70	0.70 0.45	500 500	LMLW0008	1,000	Style 3: Colloform Banded Veins	14.745	0.212	14.957	98.58 %
	CC-DDH-010 CC-DDH-010	74.80 114.50	76.00 115.50	1.20 1.00	500 500	LMLW0009	1,000	Style1: Vein Breccia Matrix Fill	0.060	0.206	0.266	22.56 %

LeachWELL^TM gold analysis: Mirasol Sample preparation :

ALS Laboratory proprietary 4 hour accelerated cyanide leach process using LeachWELL^TM Assay Tabs^TM • Each 1kg LeachWELL^TMsample was composited from 200-500g pulverised samples of the pulp with an AAS gold analysis finish of the pregnant cyanide solution. rejects from diamond drill core assay samples
Table column “LeachWELL^TM Gold Ext'n (%)” represent the percentage of gold recovered from each • Each LeachWELL^TM sample was selected for inclusion in the composite samples using fire assay 1kg sample via the 4 hour duration cyanide leach process. gold, multielement analysis and geological descriptions of the drill core to represent the range of mineralisation styles recognised to date and the SouthWest and Cerro Chato prospects.
LeachWELL^TM Residue Gold (g/t) is determined via 30g fire assay of the tails post cyanide leach.
Source: ALS: Schedule of Services & Fees. Geochemistry 2018 USD.

Table 2: La Curva JV, Metallurgical Testwork. March 2019

Pison Gravel Cover

Program 2 Drilling: One hole Chile

Gravel Cover

Totalling 251m Argentina La Curva Project

Santa Cruz Province

Castora

Cerro Chato

Trend Curva Program 2 Drilling: Four Holes; 937m West Program 1 Drilling: Eight Holes; 1,601m

Totalling Twelve Holes; 2,538m Legend Drill Hole Collar and Trace

Gravel Cover New holes this campaign Gravel Cover Holes reported February 2018 Short drill hole Label format: CC-01 / CC-01R Actual Label format: CC-DDH-001 / CC-RC-001

Rock chip geochemistry

Gold Equivalent g/t (Au+(Ag/60))

SouthWest

1 to 67.1

0.5 to 1

Program 2 Drilling: Seven Holes; 1,347m

0.25 to 0.5 0.1 to 0.25 Program 1 Drilling: Six Holes; 907m

Totalling Thirteen Holes; 2,254m Structure

Interpreted structure

Mapped Geology Interpreted stratigraphy

Gravel Cover

Loma Arthur Program 1 Drilling: Five holes Totalling 512m

Gravel Cover

Figure 1: La Curva Project, La Castora Second Drill Program Overview OGC Joint Venture La Curva JV. March 2019

La Curva Project

19.00m @ 0.53 g/t Au & 2.0 g/t Ag SW-05

SW-10 A1.2m at 1.13 g/t Au and 3.9 g/t Ag SW-12 11.70m @ 1.39 g/t Au & 2.8 g/t Ag Inc. 5.50m @ 2.11 g/t Au & 4.3 g/t Ag ?

SouthWest SW-08 Principal target area 1,100 x 300m, from drill ?

intersections and surface SW-07 Drill Hole Collar and Trace

New holes this campaign rock chip assays Holes reported February 2018

AuEq¹ Composites g/t ?

Labelled in figure > 1.0 where intersection is > 0.3 above 5gm AuEq60* > 0.1 (From Table 1)

gm = AuEq60 (g/t) x intersection length (m)

14.80m @ 1.29 g/t Au & 7.3 g/t Ag Using 1.0 and 0.3 g/t cut off AuEq60

Inc. 1.05m @ 10.72 g/t Au & 60.5 g/t Ag

Bolded intercepts are from this drilling round SW-01R A – Additional intersections not in Table 1 Short drill hole Label format: CC-01 / CC-01R 8.00m @ 1.82 g/t Au & 23.0 g/t Ag Actual Label format: CC-DDH-001 / CC-RC-001

5.40m @ 1.55 g/t Au & 10.4 g/t Ag Inc. 3.00m @ 3.62 g/t Au & 54.3 g/t Ag Rock chip geochemistry Gold Equivalent g/t (AuEq¹) SW-01 1 to 6.3 SW-02 26.70m @ 0.82 g/t Au & 2.2 g/t Ag 0.5 to 1 12.50m @ 0.70 g/t Au & 4.2 g/t Ag Inc. 3.20m @ 2.04 g/t Au & 3.6 g/t Ag 0.25 to 0.5 also Inc. 1.45m @ 3.50 g/t Au & 11.3 g/t Ag 0.1 to 0.25 0.60m @ 12.95 g/t Au & 220.0 g/t Ag SW-03 5.35m @ 2.00 g/t Au & 7.3 g/t Ag 0.05 to 0.1 0.0 to 0.05 Inc. 3.35m @ 2.83 g/t Au & 10.9 g/t Ag

SW-09

BLD 3.25m @ 2.04 g/t Au & 10.3 g/t Ag 1 AuEq = Au g/t + Ag g/t / 60

1.00m @ 3.81 g/t Au & 71.8 g/t Ag Mapped Geology – Jurassic Age Units 9.10m @ 1.00 g/t Au & 4.2 g/t Ag

SW-11

Laminated / massive Inc. 1.50m @ 3.35 g/t Au & 6.2 g/t Ag and fine ash tuffs 6.20m @ 2.33 g/t Au & 31.1 g/t Ag Hydrothermal breccia Inc. 1.80m @ 6.88 g/t Au & 84.9 g/t Ag Rhyolite dyke/Flows Epiclastic Polymict Breccia Graded Units SW-06 SW-04 Conglomerates to sandstone Crystal- Lithic tuffs Permian Quartz Sandstone Interpreted structure

Figure 2: La Curva JV, SouthWest Prospect Length Weighted Average Down Hole Intersections. March 2019 SW-03

SW-11 Cross SW-01R Section

6.20m @ 2.33 g/t Au & 31.1 g/t Ag 9.10 @ 1.00 g/t Au & 4.2 g/t Ag Inc. 1.80m @ 6.88 g/t Au & 84.9 g/t Ag Inc. 1.50 @ 3.35 g/t Au & 6.2 g/t Ag

SW-11 SW-09 SW-02

3.25 @ 2.04 g/t Au & 10.3 g/t Ag SW-01R

8.00m @ 1.82 g/t Au & 23.0 g/t Ag Inc. 3.00m @ 3.62 g/t Au & 54.3 g/t Ag 1.00m @ 3.81 g/t Au & 71.8 g/t Ag

Target

0.60m @ 12.95 g/t Au & 220.0 g/t Ag

12.50m @ 0.70 g/t Au & 4.2 g/t Ag

5.40m @ 1.55 g/t Au & 10.4 g/t Ag

5.35 @ 2.00 g/t Au & 7.3 g/t Ag Inc. 3.35 @ 2.83 g/t Au & 10.9 g/t Ag

14.80m @ 1.29 g/t Au & 7.3 g/t Ag 26.70m @ 0.82 g/t Au & 2.2 g/t Ag Inc. 3.20m @ 2.04 g/t Au & 3.6 g/t Ag

Inc. 1.05m @ 10.72 g/t Au & 60.5 g/t Ag

also Inc. 1.45m @ 3.50 g/t Au & 11.3 g/t Ag

Rock chip geochemistry Drill Hole Collar and Trace AuEq¹ Composites g/t Interpreted Lithology

Gold Equivalent g/t (AuEq¹) Labelled in figure Fine lacustrine sediments New holes this campaign > 1.0 1 to 6.3 where intersection is Epithermal veining 0.5 to 1 Holes reported February 2018 > 0.3 above 5gm AuEq60* Dome related breccias 0.25 to 0.5 Short drill hole Label format: CC-01 / CC-01R (From Table 1) > 0.1 0.1 to 0.25 Epiclastic sediments Actual Label format: CC-DDH-001 / CC-RC-001 0.05 to 0.1

gm = AuEq60 (g/t) x intersection length (m)

Pyroclastic units 0.0 to 0.05 Using 1.0 and 0.3 g/t cut off AuEq60 BLD Bolded intercepts are from this drilling round Basal epiclastic breccia 1 AuEq = Au g/t + Ag g/t / 60 Figure 3: La Curva JV, SouthWest Prospect - Interpreted Cross Section. March 2019

Appendix 1: Additional Geological Information and Analysis of Drill Results From the Second Program of La Curva Drilling

The second drill program at the La Curva OGC JV was completed in the December quarter of 2018 testing targets at the Curva West prospect and Castora Trend, Cerro Chato, SouthWest and Pison prospects. The program encompassed a total of 3,227.8 m drilled in 17 holes. This included 375m of reverse circulation (RC) drilling in 4 holes and 2,852.8 m of diamond core drilling in 13 holes (Figure 1).

Five holes totalling 692 m were drilled at the Curva West prospect to test conceptual targets exploring for the source of Au+Ag mineralized vein and breccia blocks, that occurred as clasts in a sequence of Jurassic age sedimentary breccias, deposited along the edge of a regional scale horst block (see news release September 19, 2018). Drilling did not intersect an in situ source for the blocks of Au+Ag mineralization. Mirasol is evaluating the geological information gleaned from this drilling to determine if further exploration is warranted at this prospect.

Twelve holes totalling 2,160.8 m were drilled at the Castora Trend, Cerro Chato, SouthWest and Pison prospects, as follow-up test of epithermal Au+Ag mineralization intersected in the previous round of drilling at Cerro Chato and SouthWest (see news release February 28, 2018), and providing a first drill test of a Au+Ag anomalous, 50 m diameter breccia pipe that outcrops at Pison. All drill holes intersected Au+Ag mineralization, further expanding the footprint of the large Castora Trend Au+Ag system. Length weighted average Au+Ag intersections at 0.1, 0.3 and 1.0 g/t AuEq60^* cut offs are presented in this news release, where the assay grade multiplied by length of intersection is greater than 5 gram/metres (Table 1).

On the basis of observations from drill core and initial petrographic studies, the Castora Trend mineralization and alteration can be differentiated into 4 styles described below in paragenetic sequence from earliest to more recent.

Style 1: Veinlet and breccia matrix fill of chalcedonic silica + pyrite + arsenopyrite mineralization that hosts lower grade gold mineralization (typically <0.5 g/t Au) and has an Au:Ag content of approximately 1:1. No free gold has been seen in this phase of mineralization. Gold is thought to occur as small inclusions in the pyrite and arsenopyrite.
Style 2: Breccia matrix fill of quartz + adularia + pyrite with gold inclusions + free gold + ruby silver minerals.
Style 3: Colloform banded veins quartz + adularia + pyrite with gold inclusions + common free gold + ruby silver minerals and minor siderite / rhodochrosite?
Style 4: Late stage veins and breccia matrix fill of dickite + kaolinite and illite / sericite + carbonate, probably representing retrograde collapse in the waning stages of the mineral system. This stage carries no visible Au or Ag mineralization.

Mineralization Styles 2 and 3 are the higher-grade Au+Ag mineralizing styles recognized to date at the project and may be the product of the same pulses of mineralizing fluids, deposited to form banded fissure veins in brittle tuff units and matrix fill in brecciated rhyolite flow domes. These styles of mineralization carry free gold and ruby silver minerals. Initial cyanide leach tests indicate they have favourable metallurgical characteristics (Table 2).

Mineralization Style 2 breccia matrix fill is best developed with brecciated rhyolite domes. Mineralization Style 3, colloform banded veins is developed as individual veinlets from a few centimetres up to 30 cm in width. These veins may form dispersed vein zones that range up to +10m wide downhole and may overprint Mineralization Style 2 breccia matrix fill, significantly increasing the grade through these sections of the drill hole.

Mineralization Styles 2 and 3 are volumetrically more significant and spatially more widely developed at the SouthWest and Lomo Arthur prospect (not drilled during this second program). Drilling at these prospects will be prioritized in subsequent drill programs.

A combination of surface mapping and sampling, with assay and drill hole geology from the two drill programs has been used to define a 1,100 m long and up to 300 m wide target zone at the SouthWest prospect (Figure 2). Cross sections were constructed parallel to drill holes:

1) SW-DDH-07 and 08, and

2) SW-DDH-2,09,11 and SW-RC-001 (Figure 3).

The cross sections confirm the presence of a large NW trending, NE block down, normal fault along the edge of the prospect that is interpreted to have acted as a syn to post mineral growth fault, with a sequence of epiclastic sediments developed on the downthrown block.

Au+Ag mineralization on both sections, is developed in the upthrown horst block where it is preferentially hosted in an up to 150 m thick interdigitated hyaloclastite brecciated rhyolite dome / flow package. Au+Ag grades and width of mineralization vector to depth and toward the NW oriented normal fault, suggesting that the fault has also acted as a conduit for hydrothermal fluids and may host higher grade Au+Ag mineralization.

Broad intersections of lower grade Au+Ag mineralization were returned from drilling at Cerro Chato. Hole CC- DDH-010 returned a best intersection of 26.3 m at 0.56 g/t Au and 10.7 g/t Ag including 0.45 m at 24.1 g/t Au and 87.3 g/t Ag. The narrow higher-grade intersection corelates to a zone of colloform and bladed textured quartz veinlets with the broader zone of mineralization related to chalcedonic silica + pyrite + arsenopyrite Mineralization Style 1 veinlets and brecciated dome matrix fill that has unfavourable metallurgical characteristics.

At the Pison prospect, diamond core hole PSN-DDH-001 intersected a total Au+Ag mineralized interval over 100 m downhole with a best intersection of 82.0 m at 0.22 g/t Au and 2.2 g/t Ag. While the intersection has returned low grade Au+Ag assays, drill core observation shows mineralization correlates to large zone of strongly silicified and hydrothermally brecciated epiclastic sediments with what is interpreted to be Mineralization Style 2 breccia matrix fill. Mirasol is re-evaluating the geological and geophysical information at this prospect to determine if further drilling is warranted to test for potential higher grade Au+Ag mineralization.

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