Radius Gold Inc. | Amalia Project- Mexico

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Amalia Project

The Amalia Project is located 25 km SW of the historic Guadalupe y Calvo mining district in Chihuahua (Figure 1). Radius geologists discovered high grade epithermal silver-gold mineralization in several veins, vein breccias, and disseminated zones over 3.5 km of strike length and a 750 m vertical interval following the trace of a large regional fault zone. Radius initially acquired the 380 hectare core license and subsequently staked an additional regional license covering multiple target areas (Figure 2) that totals 10,250 hectares. In July 2018 Radius entered into an agreement with Pan American Silver Corp. ("Pan American") to drill and explore the project.

Mining Property

The 10,250 hectare property includes the Amalia, California and El Cuervo major vein systems (Figure 2). Within these major vein systems are multiple targets, outlined in Figure 3, all of which are included in Radius's consolidated concessions that extend for more than 10 km of strike length of the regional fault.

Structures:

Amalia Vein, 3 km length with high grade Au-Ag, includes drill defined San Pedro high grade zone (Figure 4, 5, 6)
California Vein, 2 km length with high grade Au-Ag on surface and in drilling (Figure 7)
El Cuervo Vein, 1 km length with anomalous Ag-Au, pending drill results (Figure 8).

Geology and Mineralization:

The main targets at Amalia are located along a large regional scale NW trending fault system, which separates the upper rhyolite volcanics from the lower andesite volcanics. Radius has identified outcropping mineralization over 3.5 km along this structural break. The principal target at San Pedro, outcrops as a 500m x 70m zone of intense epithermal multiphase silicification, and brecciation with stockwork veining occurring at the contact between the upper rhyolite and lower andesite volcanic sequence. Figure 9 showcases multiphase silicification events in drill core from San Pedro. See Figures 10 and 11 for 1m core samples with electrum mineralization within the quartz sulphide stockwork zone.

Summary of Drilling

45 drill holes totalling 14,402m has been completed at the Amalia project. 10,588m in 31 drillholes has been completed on the Amalia vein system, and 3,814m in 14 drillholes completed in the California vein system. The drilling initially focused on the San Pedro target and has identified a coherent shoot of high grade gold-silver mineralization commencing at surface and continuously defined 450m down dip.

Table of Intercepts – Amalia Vein System

DRILLHOLE	FROM (m)	TO (m)	INTERVAL (m)	EST. TRUE WIDTH	Ag (g/t)	Au (g/t)
AMDD18-001	44.35	56.35	12.00	9.5	44	0.10
AMDD18-002	no significant mineralized intercepts
AMDD18-003	107.44	137.44	30.00	24	65	0.30
AMDD18-004	no significant mineralized intercepts
AMDD18-005	no significant mineralized intercepts
AMDD18-006	no significant mineralized intercepts
AMDD18-007	129.10	133.10	4.00	3	229	0.29
AMDD18-008	98.65	99.65	1.00	0.8	521	2.28
And	126.65	131.65	5.00	4	571	1.14
AMDD18-009	140.35	174.35	34.00	29.44	406	6.13
Including	144.35	170.35	26.00	22	517	7.80
Including	165.35	170.35	5.00	4	1378	14.71
AMDD19-010	210.70	254.70	44.00	34	309	12.39
AMDD19-011	170.50	176.50	6.00	4	24	1.05
Including	173.50	175.00	1.50	1.06	31	2.52
AMDD19-012	176.90	181.90	5.00	4	647	0.09
AMDD19-013	no significant mineralized intercepts
AMDD19-014	235.70	263.70	28.00	24	126	2.30
Including	256.70	259.70	3.00	2.6	761	9.85
AMDD19-015	213.70	317.70	104.00	74.8	55	3.10
Including	216.70	297.70	81.00	65	61	3.75
Including	234.70	255.70	21.00	17	65	7.91
AMDD19-016	251.20	371.20	120.00	78	21	1.53
Including	252.45	318.25	65.80	43	23	2.36
Including	293.20	316.40	23.20	15	41	4.61
AMDD19-017	316.55	322.10	5.55	4.19	-	0.88
AMDD19-018	268.15	269.45	1.30	0.75	2320	12.50
And	332.45	346.10	13.65	7.83	22	1.39
AMDD19-019	336.70	344.10	7.40	6.34	22	0.49
AMDD20-020	no significant mineralized intercepts
AMDD20-021	no significant mineralized intercepts
AMDD20-022	313.05	336.15	23.10	14.50	321	6.80
Including	319.40	325.65	6.25	4.18	813	18.34
AMDD21-023	520.85	530.40	9.55	6.50	151	0.59
AMDD21-024	no significant mineralized intercepts
AMDD21-025	150.85	151.70	0.85	0.60	475	1.48
And	170.85	178.45	7.60	5.00	70	1.73
And	239.75	249.40	9.65	7.28	57	0.36
And	274.25	277.85	3.60	2.72	55	0.32
And	285.85	293.90	8.05	5.50	99	0.93
AMDD21-026	165.50	166.65	1.15	0.80	151	3.32
And	239.75	243.40	3.65	2.37	70	1.81
And	283.40	284.45	1.05	0.70	53	4.59
And	320.70	323.70	3.00	2.00	8	3.17
And	347.00	347.95	0.95	0.62	65	0.57
And	352.90	353.40	0.50	0.33	115	0.25
AMDD21-027	no significant mineralized intercepts
AMDD21-028	no significant mineralized intercepts
AMDD21-029	no significant mineralized intercepts
AMDD21-030	no significant mineralized intercepts
AMDD21-031	133.75	147.00	13.25	13.25	117	0.90

The most recent program targeted the California vein system defining wide Au-Ag mineralization across 1km of strike length. The initial shallow drilling has intersected multiphase breccias and stockwork veins with significant widths up to 50m and high grades with individual samples up to 4210 g/t Ag and 33.1 g/t Au. See Figure 12 for a drill core photo of Ag-Au mineralization from the California vein. Some results from drilling at California are still pending. See Figures 15 to 20 for cross sections of the drilling at California vein system with results.

Table of Intercepts – California Vein System

DRILLHOLE	FROM (m)	TO (m)	INTERVAL (m)	EST. TRUE WIDTH	Ag (g/t)	Au (g/t)
AMDD21-032	38.10	44.30	6.20	5.62	93	0.43
And	62.70	90.00	27.30	24.74	90	0.26
Including	78.00	80.35	2.35	2.13	220	0.61
Including	86.00	88.60	2.60	2.36	263	1.37
AMDD21-033	148.60	199.00	50.40	23.66	50	0.05
Including	178.80	194.25	15.45	7.25	68	0.07
Including	188.20	192.40	4.20	1.97	113	0.12
AMDD21-034	145.70	149.65	3.95	3.58	487	2.15
Including	146.80	149.65	2.85	2.58	658	2.96
Including	148.00	148.50	0.50	0.45	2810	15.15
AMDD21-035	212.65	229.80	17.15	10.32	35	0.07
And	243.10	243.50	0.40	0.24	482	3.36
AMDD21-036	108.60	110.35	1.75	1.59	578	0.27
Including	109.90	110.35	0.45	0.41	1930	0.71
AMDD21-037	177.95	180.40	2.45	1.30	37	0.18
Including	177.95	178.55	0.60	0.32	54	0.53
AMDD21-038	151.00	162.20	11.20	9.06	379	1.26
Including	156.20	157.00	0.80	0.65	4244	16.96
Including	156.20	156.55	0.35	0.28	4210	33.10
AMDD21-039	308.20	335.10	26.90	20.30	353	2.59
Including	308.20	331.90	23.70	17.89	394	2.93
Including	314.45	321.95	7.50	5.66	976	7.38
Including	317.85	321.95	4.10	3.09	1520	12.61
AMDD21-040	385.35	396.50	11.15	6.55	99	0.64
Including	385.35	393.55	8.20	4.82	120	0.78
Including	388.45	391.10	2.65	1.56	210	1.12
Including	389.60	391.10	1.50	0.88	249	1.28
AMDD21-041	144.00	145.25	1.25	1.13	36	0.03
AMDD21-042	216.95	218.50	1.55	0.89	24	0.003
AMDD21-043	102.25	115.00	12.75	9.48	259	0.54
Including	108.05	114.05	6.00	4.46	483	1.06
Including	108.05	111.25	3.20	2.38	705	1.92
AMDD21-044	273.00	312.65	39.65	29.47	204	0.35
Including	283.00	312.65	29.65	22.03	256	0.44
Including	287.50	306.55	19.05	14.16	346	0.63
Including	301.00	306.55	5.55	4.12	770	1.69
Including	304.00	305.65	1.65	1.23	1446	5.11
Including	305.00	305.65	0.65	0.48	2470	11.90
AMDD21-045	333.75	421.00	87.25	50.04	60	0.05
Including	339.50	350.45	10.95	6.28	104	0.09
Including	359.50	362.60	3.10	1.78	165	0.08
Including	413.90	417.20	3.30	1.89	187	0.29

The current drill program is focused on the sub-parallel El Cuervo structure where stockwork veining and breccias up to 40m wide have been defined semi-continuously for 1.5km and surface rock chip samples returned up to 637 g/t Ag and 2.24 g/t Au. (Figure 13).

Exploration Targets

Palmillas Target

The Palmillas target is a small historic working 1.5km along the Amalia Fault from the San Pedro zone. At Palmillas, Radius took a 4m section that assayed 9.5 g/t Au and 73 g/t Ag, and a 10.5m section that assayed 1.54 g/t Au and 58 g/t Ag. Mineralization is hosted within fault-controlled quartz vein breccias similar in style to San Pedro (Figure 14).

Within the 10,250 hectare Amalia Property are multiple prospects including Palmillas, Dulces, Guadalupe and Durazno, which have been prospected and are developing as future drilling targets.

Oro Viejo, La Caverna, California SE, El Pando

Untested vein breccia targets along the California vein system, with gold grades from below detection to 27 g/t

Quality Assurance and Quality Control

Pan American Silver has been the operator on Amalia since Q3 of 2019; all their surface samples and drill core have been analyzed at an ISO/IEC accredited ALS Geochemistry laboratory.

Previous rock samples are acquired by Radius Gold's geologists and trained sampling teams under the supervision of the geologists. Majority of the rock samples consist of chip channels ranging from 0.5 to 3m. These samples are forwarded to an ALS Geochemistry laboratory for analysis of Au, Ag and other elements using ALS codes Au-ICP21 and ME-ICP61. Au-ICP21 is a fire assay method with an ICP-AES finish for Au. ME-ICP21 is a 33 multi-element (includes Ag) analysis that uses a four acid-digestion with an ICP-AES finish. For over-limits of Au or Ag, analysis using a fire assay method with gravimetric finish is automatically conducted. Quality control samples (blankets, standards etc.) are included with the field samples at regular intervals. The QA samples' results are monitored to ensure the returned results are within the acceptable range.